Smart Trade Group is an online trading brokerage from an offshore country established earlier this year. Like many others, it doesn’t have financial regulation, which makes it a potential fraud.

Let’s dive into the Smart Trade Group review and check everything about the company.

Smart Trade Group Regulations and Security

As mentioned, the Smart Trade Group broker has been established offshore in Saint Vincent and the Grenadines. The company belongs to Lencher ExPro LLC and claims to have an FSA regulation. However, FSA clearly listed that they do not provide regulations, only registration. For legally providing financial services, a company should opt for the regulation in the country of service. After careful examination of FCA, ASIC, BaFin, and a couple of other Tier1 regulators, we determined that this brokerage company is not regulated.

Beware of this since you have no guarantees for your money!

Fund Withdrawal Issues With Smart Trade Group

According to Smart Trade Group reviews on Trustpilot and other reputable websites, this broker doesn’t allow clients to withdraw their funds. Once you want to invest, you will be more than welcome to start with the minimum deposit of $250, and broker’s employees will assist you via phone, chat, email, anything you want. However, if you wish for a payout and want your profit to be in your bank, this is where the issue occurs. Suddenly, employees will become unavailable, your account manager will be too busy, and your withdrawal request will never be processed.

If you experience something similar, please let us know.

Traders About Smart Trade Group Scam

Besides withdrawals, clients are experiencing issues during their trading process as well. The broker is sending links to clients to download AnyDesk, access to their bank accounts, wallets, PayPal, and any place where you might hold your funds. Of course, none of them are pleased with such treatment.

Stay away from the Smart Trade Group scam and avoid similar brokers such as CFreserve, Global GT and AceTradeOptions.

How To Know If You Have Been Scammed Online?

If you cannot withdraw your funds, your account access is suspended, or your broker wants to access your device via AnyDesk or a similar app, you’re being scammed. Also, if you notice that you get no answer to your questions, that your account manager is not calling as often, or nobody is responding to you, it could be a sign of a scam. Nowadays, scammers are technically advanced, but you can still prevent them from accessing your computer and your trading account.

If you notice any irregularities, let us know immediately.

Scammed by Smart Trade Group?

If you were scammed by Smart Trade Group or a similar broker, let us know. Our support department will book a free consultation with your chargeback specialist. 

But What Is A Chargeback?

A chargeback is a way for your bank to reverse the funds from the merchant if you can prove that you have been scammed. Let us know what happens and our experts will find a tailor-made solution for you. Get your money back before it’s too late!

What is a Smart Trade Group?

According to our research, this is an online trading brokerage without financial regulation.

Is Smart Trade Group a scam broker?

Yes, this is an online trading brokerage reportedly conducting a scam and not allowing withdrawals.

Is Smart Trade Group regulated?

No, this is not regulated brokerage firm and provides financial services illegally. You will not be able to withdraw funds!

AreaTrading is an entirely anonymous online trading brokerage. The firm hasn’t listed the owner, and the Terms and Conditions have no relevant information about legal jurisdiction. The platform itself is a basic WebTrader, pretty much unimpressive. In fact, there’s nothing good about this investment firm.

Read our AreaTrading review and find out how the broker ended up banned in Russia.

What About AreaTrading Regulation?

AreaTrading has never mentioned a company owner or the governing law. We’re given a UK phone number for support and an email address. Thus, we’ve checked the FCA and several other Tier1 registers, looking for the broker’s regulation.

Regulated firms have no problems listing the license number on the main page of the website, along with the owner and other relevant details. If you notice a broker like AreaTrading, without any data, it usually means one thing – the firm is unlicensed and either offshore or operates as an Easter European boiler room.

In similarly to the foregoing, we highly recommend you to avoid fake brokers Crypto Lloyds, 24Trades, and FiboTraders.

Why Is It Important For A Broker To Be Licensed?

Suppose you’re dealing with financial institutions – banks, insurance companies, pension funds. You want to be sure that your funds are safe and that the institution won’t just disappear. 

The same stands for investment firms. There are strict rules to comply with if someone wants to run a legitimate brokerage. Since AreaTrading has no license, it can quickly vanish and steal all of your money. And there will be no authority that could help you recover it.

AreaTrading Warnings From Financial Regulators

After it had been reported numerous times, AreaTrading was finally banned by the Russian Central Bank. This authority body added two of AreaTrading domains to the list of fraudulent websites and warned citizens not to deal with a scheme.

Traders Reviews About AreaTrading

AreaTrading reviews are quite positive. However, you’ll notice a downtrend. It’s not uncommon for fraudsters to write their own reviews at the start. As time goes by, real customers start posting, and the truth comes out. That’s precisely what happened to AreaTrading.

Here’s an example of the latest reviews.

“they are really scammers, do not fall into this trap they will never return your money” –

Trustpilot Customer

Is AreaTrading a Legitimate Broker Or A Fraud?

AreaTrading is a scam investment company. It’s not regulated, and there is no information about the owner. The broker provides bonuses strictly defying regulatory rules.

What Platforms Does AreaTrading Offer? – Available Trade Software   

AreaTrading advertises its WebTrader as “an intuitive, user-friendly interface trading platform.” The truth is that it’s the same software we’ve seen hundreds of times with many other bogus brokers. 

The platform itself has no special features such as EAs or social trading and has fewer charts and indicators than MT4 or MT5, for example.

AnyDesk and TeamViewer – Access To Your Bank Account

We’ve noticed that the company has links to download AnyDesk and TeamViewer, and account managers usually use it as an excuse to show you the platform. In fact, they’re all about checking how much money you have in your online banking and transferring it to themselves without approval. 

All About AreaTrading Accounts

There are 3 the broker account types:

• Beginner – $250
• Intermediate – $2,500
• Advanced – $25,000

Besides the initial deposit, no other perks were listed, so we have nothing to say here.

AreaTrading Broker – Countries Of Service

The AreaTrading scheme is mainly active in:

• UK
• Canada
• Australia
• Ireland
• Sweden
• Singapore

AreaTrading Range of Trading Instruments & Markets

The firm clients can access 5 major markets, including:

• Forex
• Commodities
• Indices
• Shares
• Cryptocurrencies

The most significant accent is on crypto, as the firm presents itself as an exchange and advises clients to transfer all their crypto to AreaTrading wallet, allegedly for bigger commissions. This is another tactic to lure you into the scheme and steal your funds.

Definitely avoid VitaCapitals, Citadelex, and IndexEvolve trading scams as well! Additionally, always research the history of online trading organizations before investing!

AreaTrading Minimum Deposit

The company asks for a pretty standard minimum deposit of $250. Yet, there’s no reason to risk as much with an unregulated scheme. Regulated firms have Micro accounts starting with as low as $10. You can test the system and not worry if the company will vanish with your money.

Scam Bonus Policy – As A Way To Keep Your Money

The broker offers bonuses up to 75%. However, they won’t bother to tell you to read the Deposit and Withdrawal Policy and learn the conditions for such incentives. 

If you accept any AreaTrading bonuses, you need to roll over 25 times the bonus plus the deposit amount before being eligible for withdrawal. And that’s just a way for the broker to keep your funds and not allow you to submit a payout request.

AreaTrading Unfavorable Trading Conditions

Hiding trading conditions is worse than having bad ones. And that’s precisely what the broker does.

Leverage and Spread

There’s absolutely no information about leverage and spread, so the risks of your investment, as well as the costs, are well hidden. And you surely don’t want your funds to be exposed to these conditions.

AreaTrading Deposit, Withdrawal Methods, and Fees

The broker accepts deposits and withdrawals via debit/credit card and wire transfers.

The minimum withdrawal amount is $250 for wires and $100 for card withdrawals. Besides, there are fees of 50 units for bank transfers and 25 units for credit card withdrawals.

Scammed by AreaTrading Broker? – Let Us Hear Your Story

If you or someone close to you has been scammed by an AreaTrading broker, let us know. Our chargeback specialists are here to hear your story and assist.

But What Is A Chargeback?

This is one of the options you have to recover your funds from the merchant. Contact us via online chat to book a free consultation, and let’s get your money back before it’s too late.

What Is AreaTrading?

AreaTrading is an online Forex and CFD trading provider without a license.

Is AreaTrading a Scam Broker?

The broker has been blacklisted by the Russian Central Bank for scam activities.

Is AreaTrading Available in the United States or the UK?

The trading compnay provides unregulated trading services in both countries.

Does AreaTrading Offer a Demo Account?

AreaTrading doesn’t offer a Demo account, only Live types.

Since there is no information about the ownership, we can’t define for sure where they operate from. Allegedly they are from the UK but we don’t see an FCA license on their website. Everything looks shady.

In addition, we recommend reading our reviews about brokers EGMarkets, StellarFX and EvoCapitals.

Above all, you can only contact the company through e-mail. Which is very disappointing if you are looking to invest your money somewhere.

That’s why regulations are very important in the trading business.

Is UberChains a Scam Brokerage Company Without a License?

Certainly, when the company doesn’t have a license, the potential for a scam rises percentwise. With UberChains broker that number is maxed out. Of course, their license is missing.

This is a freshly designed website, without any integrity and its goal is to lure clients into fake investments. Be careful when handing money over to strangers.

Summary: If you were looking for safety and integrity you won’t find it with UberChains. They don’t even provide ownership or licensing information. If they are hiding themselves, they are hiding many other things.

Arguments For Trading With a Licensed Broker

Licensed brokers have everything in black and white. There is no grey zone and they even give you protection. From negative balance protection, limits on leverages, funds recovery in case of bankruptcy and many more.

That’s why we always suggest you look for regulators like FCA, BaFin or ASIC. Those are Tier 1 types and the most trusted ones.

Looking for UberChains trading in their register didn’t give us any results.

Analysis of Customer Reviews Related to UberChains

Analyzing UberChains reviews didn’t surprise us. There are a lot of people complaining about their services. More than 30% of comments, out of 16 on Trustpilot were rated 1-star.  

On some other forums as well, we found negative reviews about this broker. Stay safe and don’t invest money here!

They are scamming traders from Norway, Belgium, France, Australia and Sweden.

UberChains Software – Platform Tools

Even if you were not convinced with this UberChains review so far why not trade with them, you will be now. They only offer a web-based trading platform with an insane number of financial instruments. But there is a catch.

If you want to get access to the platform and check the availability of trading tools and features, you need to make a deposit first.

Besides that, the functionality of the platform is questionable for mobile devices. Since the company doesn’t have an app, you will need to get access to the platform through the browser.

At this stage, we would only suggest you go with a licensed company and try a demo or micro account first.

What Financial Instruments Does UberChains Include?

We managed to get information about the assets that they are offering. It’s quite impressive for scamming company. You can trade on 5 different instrument classes:

• Forex                      USD/JPY, AUD/NZD, USD/MXN
• Commodities           gold, natural gas, platinum
• Indices                    DowJones, FTSE100, Nikkei 225
• Stocks                     AMD, Facebook, Alphabet
• Cryptocurrencies    Dogecoin, BTC, ETH

On the other hand, the reliability of data about the assets is questionable since the company doesn’t have regulations.

Areas Of UberChains Scam

This company is obviously reaching out to rich countries. They are not wasting any of their time. UberChains broker is mostly scamming traders from:

• Belgium
• Norway
• Sweden
• France
• Australia

The company is allegedly based in the UK but not trading with UK clients. There is something strange.

UberChains List of Account Types

As we mentioned they are targeting rich countries. That’s why their minimum requirement starts from 10.000 USD.

Available account types are:

• Bronze         10.000$
• Silver           25.000$
• Gold            50.000$
• Platinum      100.000$

For a company without regulations, these amounts are quite unreasonable. This would be logical for some licensed companies since they have some integrity.

UberChains Deposit and Withdrawal Policies

One of the worst things investment companies could do is not disclose a deposit and withdrawal policy. They don’t provide any information about payment providers or ways to make a transfer.

Above all, withdrawals that are even more important are not mentioned anywhere on their website. From the UberChains reviews, we could only find complaints that they are asking for extra fees before allowing your withdrawal.

But withdrawals never happen with these scammers. Once they get the last penny from you, they have vanished.

UberChains Terms and Conditions

After all, if you even decided to put money here, you still don’t know what you are into. They don’t disclose anywhere basic conditions. Not to mention trading conditions, which are as well important.

Once you get to the platform, expect the unexpected. The higher account you open, the higher leverage you get. To lure you for bigger profits, but in the end, you get a higher risk.

The lack of clarity and important information here is crucial. Nobody wants to deal with ghosts. This is exactly the proof of why you should always be looking for regulated companies.

UberChains Broker Scammed You? – Please Tell Us Your Story

We have done our best to show you how not to fall for these scams. In the case that you already did, don’t lose faith.

If you just knew ways how to get money back, you would do it so far. That’s why you can contact our experts to get started with the first steps.

What Is the Chargeback Procedure?

Companies like these are often charging by a Debit or Credit card. If that’s the case, you can file for a chargeback. We can assist you with the procedure.

However, if the transaction was crypto, there is a program that can trace the route of that transaction.  It’s called CipherTrace and our experts can give you more details about it.

Get back to us now!

What Is UberChains?

This is a mysterious and non-licensed trading company based allegedly in the UK.

Is UberChains a Scam Broker?

Absolutely, without any doubt. They don’t provide any ownership information, registration or license number.

Is UberChains Available in the United States or the UK?

From our knowledge, they don’t trade with US or UK clients.

Does UberChains Offer a Demo Account?

The company doesn’t offer a demo account. Only live accounts with insane minimum requirements.

If you visit the bogus website of the dubious GalaxyEx investment scheme, you’ll notice that there are no links or pages. It raises concern about the platform and all that it encompasses.

Therefore, it’s crucial that you read our honest GalaxyEx Review and learn more about this fraudulent platform. Find out which steps you need to take in order to recover your money from cyber scams.

Legal Info: Is GalaxyEx Regulated?

GalaxyEx is virtually anonymous. The shady website we found offers absolutely no information about the legal background of the business, company name or ID number, address, phone number, email, etc. 

Do you really want to trust such a non-transparent platform with your hard-earned funds? Anonymous platforms are the worst; just take RightFX for instance. Instead of taking the cunning bait, reject everything that these fraudsters offer and turn to proper, licensed brokers and firms.

We recommend you find a reliable provider licensed by a reputable financial market regulatory authority. The best regulators that you can rely on to supervise your platform include the FCA (UK), ASIC (Australia), CFTC & NFA (US), CySEC (Cyprus), BaFin (Germany), FINMA (Switzerland), etc.   

If you need help finding the best platform for your needs, we offer our professional assistance.

Why a Trading License Matters

Top financial market jurisdictions such as the European Economic Area, the United States, and Australia boast heavy regulations and impose formidable requirements for companies that apply for a trading license.

Companies are required to maintain a substantial minimum operating capital (e.g. 730,000 EUR or 1,000,000 AUD), provide clients with negative balance protection, segregate their funds in a top-tier bank (e.g. Barclays), and even a compensation scheme (e.g. up to 20,000 EUR).

Even if you have issues with a regulated broker, you can file a complaint with the respective regulator, as some traders did with Brokereo. Unlicensed providers such as GalaxyEx are not obliged to offer any security and safety benefits, which is why these platforms should be avoided.

Who Are GalaxyEx’s Targets

According to godaddy.com/whois, the galaxyex.net website domain was created on May 31, 2023, just three months ago. Since then, the anonymous financial swindler has mainly been targeting unsuspecting traders who reside in the following countries:

• United States;
• India;
• Myanmar (Burma);
• Thailand.

GalaxyEx has no authorization to operate in any of these jurisdictions, especially the United States where the laws are strict and unforgiving. Furthermore, the webparanoid.com gave GalaxyEx a pretty low trust score.

Do not trust GalaxyEx! We can help you recover the funds you deposited in your GalaxyEx account. 

GalaxyEx Trading Features

GalaxyEx offers a platform that can be used to trade cryptocurrencies. The website promotes certain trading strategies such as the K-Line Quick Trading strategy, Split & Merge, etc. The mysterious platform allegedly offers and the possibility of setting up to 50 take-profit and stop-loss orders for the positions.

There is no demo account so we couldn’t check out and try the platform. Nevertheless, GalaxyEx’s platform may be rigged and manipulated so please avoid it.

Available Trading Assets

GalaxyEx supports a wide range of cryptocurrencies that can be traded against US Tether. Here are a few examples:

• BTC/USDT;
• XPR/USDT;
• BNB/USDT;
• LTC/USDT;
• ETH/USDT;
• TRX/USDT; etc.

Cryptocurrencies are extremely volatile assets with markets fluctuating to extreme degrees at times. In other words, the crypto environment is unpredictable and risky per se. If you truly want to trade these assets, be sure to pick a legitimate platform.

The maximum leverage that GalaxyEx offers is 1:125, which is extremely high and, in the case of crypto trading, can be hazardous. Most proper regulators have limited the maximum leverage for digital assets to 1:5.

Mobile Trading App

GalaxyEx offers a mobile trading app. This app can be downloaded on both Android and iOS mobile devices. The website offers a QR code instead of a download link, which is shady.

In general, mobile trading offers numerous advantages such as the ability to trade on the go and quickly adjust to swift market movements. However, you will not benefit from it if you’re using a platform provided by an unlicensed entity.

We can help you retrieve your funds from GalaxyEx.

GalaxyEx Withdrawal Issues

Since GalaxyEx did not include any legal documentation whatsoever, the company’s deposit and withdrawal process is uncertain. Users have been left in the dark regarding the fees and the minimum deposit and withdrawal requirements.

Nevertheless, the most frequent payment methods used online are credit/debit cards, wire transfers, e-wallets, and cryptocurrencies.

If you want to reverse a credit/debit card transaction or a wire transfer, you should request a chargeback, i.e. recall at your issuing bank within 540 days. For crypto payments, you’ll need professional assistance and we happen to offer just that so please book a consultation with us and tell us more about your case. 

Key Information To Consider About GalaxyEx

To sum up our review, GalaxyEx is an anonymous website, offering a crypto trading platform. GalaxyEx is not licensed and the website did not provide any legal documentation whatsoever, which is why GalaxyEx cannot be trusted.

Avoid GalaxyEx. If you have fallen victim to this unscrupulous scheme, do not despair. We can help you recover your funds. Our experts will gladly guide you through the chargeback process or trace your crypto transaction using CipherTrace. Book a free consultation with us as soon as possible.

Let us know if GalaxyEx scammed you.

FAQ Section

What is GalaxyEx?

GalaxyEx, a relatively new website, is an anonymous crypto trading platform with no legal license.

Is GalaxyEx A Scam Or Legit?

GalaxyEx is most likely a scam. Apart from being unlicensed, GalaxyEx offers no info about the company’s legal background.

How To Get My Money From GalaxyEx?

Chargeback. The easiest way to get your money back is to book a free consultation with us and allow our experts to help you.

Abshire Smith is a company that offers access to the FX markets. Founded in 2011, the broker claims to provide a high-quality trading environment with a mixture of venues and instruments. 

However, there have been reports of Abshire Smith scamming traders from the United Kingdom, the US, South Africa, and Turkey. In this Abshire Smith review, we will examine the broker’s status, supported platforms, minimum deposit, trading assets, maximum leverage, and more. Stay tuned!

Also, we recommend you not to invest in the fraudulent brokers CertaInvest, WaveSolutions, and AppleTrade.

Is Abshire Smith a Regulated Broker or Not?

We checked the FCA, ASIC, and BaFin databases to see if Abshire Smith was regulated there, but we couldn’t find the broker on the lists. Abshire Smith doesn’t have FCA, ASIC, or BaFin licenses, and the broker doesn’t have Tier 1 regulation. Therefore, it is an unregulated broker.

The FCA license they apparently had is no longer valid. Remember this! 

Reviews From Traders

At the time of writing, there is only one review on Trustpilot for this company, with a rating of 3.0 out of 5. Some users complain about the broker’s customer service, while others praise the broker’s trading platforms and products. 

It’s critical to note that having just one review on Trustpilot may not be representative of Abshire Smith’s overall reputation or the experiences of all its clients. It’s always a good idea to do further research and gather feedback from multiple sources before making any decisions about which broker to use.

Abshire Smith – Trading Software

Abshire Smith offers three trading platforms: MetaTrader 4, Straticator, and VertexFX 10. 

MetaTrader 4

MetaTrader 4 is a popular trading platform that provides advanced charting, technical analysis tools, and automated trading strategies. It is widely used by traders of all levels, due to its user-friendly interface and customizable features. It is also supported by many brokers, making it a convenient choice for those who want to trade multiple markets. Additionally, MetaTrader 4 offers a wide range of indicators and scripts.

Straticator 

Straticator is a web-based trading platform that offers a wide range of trading tools and features. Also, Straticator is easy to navigate and user-friendly, making it a popular choice for both novice and experienced traders. Its advanced charting tools, technical analysis indicators, and real-time market news updates provide valuable information. Additionally, Straticator offers a mobile app, which allows people to monitor markets on the go.

VertexFX 10 

VertexFX 10 is a trading platform that provides access to many trading instruments and analytical tools. Also, VertexFX 10 trading platform is highly user-friendly. The platform also supports algorithmic trading and provides various APIs for traders to develop their own automated trading strategies. Additionally, the VertexFX 10 platform offers a comprehensive back-office management system. 

Abshire Smith’s Trading Assets and Instruments

This company offers a variety of trading assets, including forex, commodities, indices, and shares. Forex trading is available for 44 currency pairs, while commodities trading includes gold, silver, oil, and natural gas. 

Indices trading includes the FTSE 100, DAX 30, NASDAQ 100, and more. Shares trading is available for over 100 global companies.

Abshire Smith’s Countries of Service

Abshire Smith offers its services to traders from all over the world. They mainly target residents of:

• UK,
• US,
• South Africa,
• Turkey.

The firm is illicit and shouldn’t be trusted.

Account Types 

According to available information, Abshire Smith offers three different types of trading accounts to its clients. 

The first one is the Live Trading Account which is designed for real-time trading with actual funds. The second account type is the Risk-Free Demo Account, which allows traders to practice trading in a simulated environment using virtual funds without the risk of losing real money. 

Lastly, the Corporate Account provides access to custom-tailored solutions. Other than this information, no further details on account features, requirements, or fees are available on Abshire Smith’s website or other reliable sources.

Can a Trader Use a Demo Account?

Yes, Abshire Smith apparently offers a free demo account for you to test their strategies. The demo account provides real-time market data and allows you to practice trading with virtual funds without risking your own capital. 

Notably, the demo account is an excellent tool. However, this broker is suspicious and should be avoided. 

Partnerships

Abshire Smith offers partnership programs for Introducing Brokers (IBs), Companies, and White Label partners. 

These programs provide partners with a range of benefits such as competitive commission rates, access to a range of trading platforms, and personalized support. However, don’t forget that this broker is unregulated. Your funds won’t be safe with them! 

Terms of Service for Abshire Smith 

Abshire Smith’s terms of service cover account opening procedures, trading rules, and fees. Traders should carefully read and understand these terms before opening an account with Abshire Smith. 

The terms of service also provide details on the company’s policies regarding deposits and withdrawals. Make sure to read it carefully.

Leverage, Spreads, and Fees

Abshire Smith offers competitive trading conditions with variable spreads on major currency pairs and a maximum leverage of 1:400. 

No matter how tempting the trading conditions may be, this company is fake. Their so-called license is not valid anymore. Beware of this.

What Should I Do if I Have a Problem With Abshire Smith?

If you encountered a problem with Abshire Smith, there are several steps that you can take. Consider seeking legal advice or contacting consumer protection organizations for assistance. It is imperative to be vigilant and not to provide any further personal or financial information to the company if there are concerns about its legitimacy.

Also, If you require assistance with chargebacks, schedule a complimentary consultation with our team of chargeback specialists who will assist you in recovering your funds.

What Is Abshire Smith?

 Abshire Smith is a brokerage firm that offers trading services. Yet, it is suspicious.

Is Abshire Smith a Scam Broker?

There are suspicions that Abshire Smith is a scam broker. Be mindful of that.

Is Abshire Smith Available in the United States or the UK?

It is unclear whether Abshire Smith really operates in the UK. They don’t support US clients.

Does Abshire Smith Offer a Demo Account?

Yes, Abshire Smith apparently offers a risk-free demo account.

WSXP broker seems to be targeting German-speaking clients, with the entire website being in this language. However, the firm has no BaFin, AMF, FINMA, or any other Tier1 regulation. Read this review and get all the details about how WSXP targets and scams clients.

What About WSXP Regulation?

WSXP has never entered BaFin or any other commercial register, meaning it’s another fraud on the financial market. The company is allegedly based in Germany but never uncovered the official owner. In addition, any German-based broker needs to have a BaFin regulation to provide financial services legally.

Why Must A Broker Have a License?

Any company that wants to provide legitimate financial services needs to have regulation. The best thing about Tier1 regulators, such as FCA, ASIC, etc., is that licensed firms have significant compensation funds to reimburse potential victims. If you’re dealing with a scammer like WSXP, your funds can quickly vanish with the firm, and tracking them down will be difficult.

In addition, we strongly advise you not to invest in AGM Markets, Weltex and NewFX fraudulent brokers. So don’t fall for these dishonest scam brokers!

WSXP Warnings From Financial Regulators

As the firm pretends to be based in Germany, the official authority body of the country issued a  warning against the scheme.

BaFin Investigation – Official Warning

BaFin has stated that WSXP operates without proper regulation. Furthermore, this authority found a link between WSXP and several other fraudulent brands, including EUAktien, EUSchild, SimpleXP, and KryptoInv. 

Traders Reviews About WSXP

WSXP reviews are mainly turned towards withdrawals. Since the firm is illicit and operates without regulatory supervision, it doesn’t approve any withdrawal requests, hoping it won’t be penalized. Additionally, account managers are asking clients to download AnyDesk and TeamViewer (links are on the main page), so they can access clients’ online banking and steal everything they have.

What Platforms Does WSXP Offer? – Available Trade Software

WSXP didn’t give much about its trading platform. We can see it’s a proprietary WebTrader, allegedly “one of the most user-friendly platforms on the market.” However, this kind of software can never be anywhere near MT4 or MT5, not by the diversity of trading tools nor by security.

Countries Where WSXP Scams Operate

WSXP mainly targets German and Austrian clients. However, it seems that entire Europe is on their calling list, so be well aware that this firm is a scam and don’t accept any offers for your own safety.

WSXP Range of Trading Instruments & Markets

The broker’s investors have access to 5 major markets, including:

• Currency pairs
• Commodities
• Indices
• Shares
• Cryptocurrencies

With the main focus being on the latest assets. 

So, you should avoid Invest Flow forex broker and similar brokers such as Dualix, NovaTechFx and Holding Partners.

WSXP Unregulated Leverage

Another proof that this firm cannot be German-based is its leverage. While BaFin has set a limit to 1:30 for the Forex market and 1:2 for cryptocurrencies, the broker offers as high as 1:400. Usually, offshore firms are entitled to give this kind of leverage, leading us to believe that WSXP is, in fact, hiding offshore and defrauding clients.

WSXP Deposit and Withdrawal Methods

As you already had a chance to see, the firm cannot brag about transparency. From all we know, the company accepts the following payment methods:

• Debit/credit cards
• Wire transfers
• Bitcoin

They tried to persuade you to purchase Bitcoin through the Binance platform and then transfer it to the company’s wallet. This way, the transaction can hardly be tracked down, helping the broker stay anonymous. 

If you’re investing in the financial market, we always advise you to use your credit card since you have up to 540 days to file a dispute for a chargeback.

Scammed by WSXP Broker? – Let Us Hear Your Story

If you find yourself a victim of a WSXP broker, it’s important to understand that you’re not the only one. This firm targets many, and their support has quite a convincing story. However, it’s time to take some steps toward a refund – to file a dispute for a chargeback.

But What Is A Chargeback?

This is a way for your bank to reverse the transaction and recover your money. Contact us via online chat to book a free consultation, and let’s start now. The process is time-limited; we need to move fast!

What Is WSXP?

WSXP is an online Forex and CFD trading brokerage. The firm is allegedly based in Germany but has no license.

Is WSXP a Scam Broker?

WSXP is a scheme firm blacklisted by the German regulatory body for illicit activities.

Is WSXP Available in the United States or the UK?

The company provides its services in the UK but not in the US. 

Does WSXP Offer a Demo Account?

No, the WSXP broker doesn’t offer a Demo, only a Live account with an unknown minimum deposit.

Trading safely and effortlessly with automated trading systems is what these cons claim to offer to their clients. We have yet to find this amazing new technology, considering that there’s no sign of it on this shady website. 

Unfortunately, this is just one in a sea of blatant lies that this failure of a Forex provider is trying to sell you. Read this TradeCenterFX review to learn how to protect yourself from financial vultures and what you can do to recover stolen funds.

Illicit Entities at Work

It is not clarified who owns the TradeCenterFX broker and the website we’re reviewing. There are claims on the site that the company was established in Cyprus, with even a postal address. Naturally, we immediately ran this name through the Cypriot business register.

As evident, no entity under this generic name is registered in this country. This effectively rebukes their entire story about being a legitimate business. Since they are not found in the aforementioned database, it remains a question if this is actually a real firm and not just an online fraud.

Cyprus Authorities React

In order to check if this is indeed a legitimate online financial services provider, we consulted the main regulatory authority of the country where they claim to operate from. CySEC has absolutely no information about this suspicious entity ever entering their database. 

What’s more, since complaints concerning the predatory activities of this firm are starting to pile up, CySEC has decided to list their domain on their register of unregulated firms. If you search the database for tradecenterfx.com or portal.loginzone.io/#/dashboard, you’ll find them listed among other unapproved sites.

Can’t Bury the Truth

Many online scammers, like Mega26, for instance, rely on fake online reviews to contribute to their persuasion strategy. This firm has attempted something along the same lines.

Looking at the TradeCenterFX reviews on TrustPilot and SiteJabber, we can see that the group did try to “enhance” their reputation. The disgruntled clients, however, have started to flood the pages with their own testimonials. Traders complain about their money being stolen, and legitimate withdrawals denied.

Recently Launched Website

The tradecenterfx.com website footer contains copyright information dated to the year 2017. This is another piece of false advertising since the domain was first leased in November 2022. Even so, the platform wasn’t launched until mid-2023. The majority of site visitors are from these nations:

• United Kingdom
• Australia
• Germany

Account Registration Problems

Trading account types are tiered and quite similar to what the Finanzwelt.pro scam offers. Let’s take a look:

• Bronze – $5,000
• Silver – $10,000
• Gold – $25,000
• Platinum – $50,000
• Premium – $100,000

The account creation form doesn’t really work, though. This is actually a feature, as it prevents random site visitors from accessing the client area.

Where’s the Trading App?

The defunct account creation page ultimately prevented us from evaluating the TradeCenterFX trading platform. The company’s website does feature advertisements for a mobile app, but it is not actually available.

Now, it’s no secret that AI trading has become a new buzzword in the trading community. As much as the idea seems interesting, the technology is simply not ready yet. Still, these fraudsters have plastered their site with claims of advanced AI which are ultimately just there to grab attention.

High Leverage and Hidden Fees

Leverage with the TradeCenterFX scam is dangerously high, set at 1:200. This leverage is much higher than what is allowed in the EU (1:30) and the US (1:50).

There is very little information on the trading fees, besides that the firm advertises them as “very low.” Trading commission is not fully outlined, but higher-priced account types can get a discount of up to 35%. Contrary to this, swap costs actually grow with costlier accounts, ranging from a standard over 10% to 35%.

Opaque Payment Channels

The swindlers don’t talk much about the supported payment channels. There are no Terms and Conditions, but this suits the swindlers well. After all, why should they conform to one or two funding methods in the first place?

The site contains several logos, including Visa, MasterCard, SEPA and SWIFT, but this is hardly illustrative of anything. The con artists won’t be bothered if you have your nana deliver the money via a messenger pigeon.

Likewise, the TradeCenterFX withdrawal policy is kept under wraps as well. Not that the company is known to approve any payouts anyway.

Ignored Support Tickets

Since the company address is entirely made up, who can guarantee that the other contact details aren’t? The falsified user reviews tell us about the impeccable client support service, but we found ourselves unable to get in touch with a single support agent.

The live chat feature says that the typical response time is 1 minute and that all agents are available, yet no one replied to our questions about registration issues. Support agents are definitely not doing their job.

Scammed? Let Us Help!

To sum up our investigation: is TradeCenterFX legit? No, most definitely not. Not only is this firm completely illicit, but they’re also found on the CySEC list of unsupervised financial services providers.

Therefore, we advise utmost caution when dealing with companies that aren’t clear on their registration and license information. If you are also struggling to get back stolen assets from unscrupulous trading domains, please consider contacting our chargeback service. Our legal experts can help you start the chargeback process.

FAQ Section

Is TradeCenterFX Legit?

Neither this company nor its domain is found in the Cyprus register of regulated entities. CySEC has made that clear on their site.

How to Recover Stolen Cash?

If you want to take back what is rightfully yours, we recommend you immediately contact our recovery team and learn how to issue a chargeback.

Formerly a Forex-related service, it turned into a cross-border payment provider, but somehow, with speculating trading involved – this firm is not fooling the regulators.

Unfortunately, the reality of this scheme is that they keep finding and deceiving new investors. Learn more about scam recovery in our KiaKiaFx review.

Forged Legal Details

Unscrupulous crypto providers without mandatory licenses, like the KiaKiaFx broker, often tend to present falsified legal information. This is done in order to manipulate their potential victims and have them believe their business is completely legit.

Whoever checks that information, however, will find that no KiaKiaFx Limited company exists at the alleged UK address, as evident from the UK Companies House register. This means that the firm that claims to be a premium UK exchange doesn’t even exist at the given address. Nigerian registration is also mentioned, but even if true, it holds no significant value, coming from an unregulated environment. 

Not Just Unregistered, but Blacklisted Too

What’s most likely the case with this suspicious firm is that it only exists online in the form of a shady crypto portal. The definitive proof of that is not just the fact that they don’t present valid registration information but the fact that they’re also blacklisted by FCA. 

Leading UK regulatory authority has declared that this entity is operating without the necessary permits and that investors are in danger of losing their funds. So the final question is: “is KiaKiaFx legit?” No, most definitely not.

Nobody Posting Reviews

We can see that something is wrong with this exchange when we consider that the kiakiafinance.com domain has been online since 2022. Namely, in the span of 3 years, nobody bothered to post any KiaKiaFx reviews about the service.

The con scheme seems to be oriented mostly towards traders from these regions:

• Ukraine
• Canada
• United Kingdom
• Australia

It is important to let your voice be heard! If you believe you’ve had your money stolen by this exchange, contact our recovery experts.

Analysing the Scam Mechanism

In an effort to avoid bad publicity, the company changed its name from KiaKiaFx to KiaKiaFinance. This is how it introduces itself on public networks now, where it pitches the usual get-rich-quick slop.

Their profiles on Facebook, Instagram, X, and LinkedIn are full of self-help videos that are supposedly trying to teach you how to become an investor. One of these videos tells you to invest the main part of your earnings rather than the disposable income. Go figure.

Of course, the scam would never gain traction without the help of boiler room agents. They operate from apps like WhatsApp to maintain their anonymity and constantly call new people and pitch their scheme.

Various Services but No Software

Some of the advertised products sold by this firm are tools that should enable clients to perform quick transfers, use a multi-privacy wallet, swap currencies, and earn, loan, and invest. We just wonder how investors are supposed to earn a profit, considering that there’s no trading terminal. Investing in cryptocurrencies demands specialized software equipped with a variety of tools and price trackers. 

The only resemblance to trading technology is a simplified web widget that supports transfers. We absolutely do not recommend linking your wallet or bank account to this suspicious terminal.

Mobile App is in the Stores

The company offers a mobile solution as well, which is available via GooglePlay and AppStore. The KiaKiaFx app is downloaded over 10,000 times from each of these platforms – with a grand total of 5 reviews. This tells us that the download numbers are heavily pumped up to make the app seem more reliable.

Deceptively Safe Signup

There are several steps you need to go through before you can register for a new account. It is mandatory that you share your personal information and contact details, confirm your email, and set a new PIN.

After validating all of this data, you can finally proceed to the user panel. There are only two account types to choose from:

• Individual
• Business

Differences between these are not stated, and judging from the same registration process, it doesn’t matter which account you choose to open. However, incomplete KYC will block you from even checking out other features.

Obscured Billing Structure

Hidden fees are something we’ve come to expect from fraudulent entities like Phemex. This group uses the same strategy as well. Nearly all information on commissions, spreads, and other fees is missing from the website. The Terms of Use document is pretty much worthless paper.

The only way to find out the fees for yourself is to pass the verification and access the KiaKiaFx trading environment. By this time, the boiler room agents have already got you in their pocket and will begin with solicitation. Since all fees are hidden, they can just make up whatever suits them and try to extort the payment.

Withdrawals Aren’t Available

This convoluted platform does not allow withdrawals in the traditional sense. Instead, payouts are handled like any other kind of transaction.

To effectuate what functions as a KiaKiaFx withdrawal, you’ll have to opt to send the money to yourself. As you may have already suspected, there is no withdrawal policy that would define what all this means. The client area is, again, pretty vague on the matter and requires verification.

Unfortunately, this again involves company agents, and by now, we’ve already established what that means. However, there is a way to withdraw your funds from this scheme, so contact our experts to learn more.

Dysfunctional Help Desk

On paper, the firm has several communication channels for help and support. In reality, though, the only viable option is email, and that remains questionable. LWEX is known for using a similar strategy.

We know this because we’ve attempted to use the live chat several times. After communicating our problem to the chatbot, it is supposed to direct us to a human operator. However, each time this happened, the program encountered the same “internet connectivity error.”

Money Stuck? Get It Back With Our Help!

This online hoax has been around long enough for the swindlers behind it to change their branding. That didn’t help them to avoid the gaze of the authorities, however, and now the service is blacklisted.

Do not trust anything the agents of this company tell you! Recovery of the lost assets is possible, but requires a tricky legal procedure. If you need help in this matter, book a free consultation with our expert team at any time.

FAQ

Is KiaKiaFx Legit?

No, the service is completely fake. Any legal information about the company is counterfeited, which is why the group has been placed on a regulatory blacklist.

Is There a Way To Get The Money Back?

Yes, recovery of lost funds is indeed possible. Use the live chat on our site to book a free consultation with an expert and start your recovery procedure.

While reviewing this unlicensed brokerage, we noticed that much information is missing. For example, we have no idea who’s behind this fraudulent operation or under which regulatory jurisdiction it belongs. Let’s see our SafeTradez review and what we were able to find.

What About SafeTradez Regulation?

SafeTradez is an anonymous brand allegedly based in Belgrade, Serbia. Knowing that this country is not famous for firm regulatory supervision, we checked SSC looking for SafeTradez regulation. Of course, we found nothing. Since there’s no owner and no governing law, we cannot determine whether the company is actually in Serbia or any offshore country. All we know is that you will not receive any compensation in case you’re scammed.

In addition to the above, we strongly advise you not to invest in Avalon WM, CTA Capitals and CFBroker fraudulent brokers.

SafeTradez Warnings From Financial Regulators

Since the broker is present in many European countries, we’ve checked whether any regulators received complaints against SafeTradez. We found an official warning by the UK FCA stating that SafeTradez is a fraudulent trading firm you should not deal with.

Another warning came from the Italian CONSOB, stating the same.

Fund Withdrawal Issues With SafeTradez Broker

We’ve determined that SafeTradez operates without regulation, so we were not surprised to learn about issues with withdrawing funds. According to reviews, clients cannot get their money back, no matter how persistent they are. This brokerage is even making up extra fees and costs for withdrawals, but even if you pay them, you will still not see a penny back.

Be aware that being involved with SafeTradez may lead to scams.

Areas Of SafeTradez Scam

Our review has shown that the broker is mainly present in Canada, Australia, and Ireland. Yet, it has no authorization to provide financial services in any country, so be very careful. There’s no compensation fund that can be used for your reimbursement.

Also remember the names of the OMC Markets, FxxTrader and Infinox trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

Traders About SafeTradez Scam

As you can assume, traders have nothing good to say about SafeTradez. Most of the reviews are directed towards withdrawal issues, but we’ve seen some clients complaining about account managers as well. It seems that these people don’t assist clients in making a profit but instead pressure them to invest more money. If you decline the alleged financial plan, your account will be suspended.

How Does Online Trading Scam Work?

Online trading scams usually start with an overpromising ad showing the market’s potential and the millions you can make overnight. Even if you’re aware that this is just marketing, brokers such as SafeTradez will tell you how it’s all logical and possible. Once you believe them and go into the process, you will find yourself unable to withdraw your money. And those same employees that were so available and supportive will never answer your calls or emails and will block your access to your trading account.

If you recognize yourself in our story, let us know. We may assist you in getting your money back.

Scammed by SafeTradez? – Tell Us Your Story

If you were scammed by SafeTradez, let us know. Our chargeback specialists may assist you in filing a dispute and receiving a chargeback.

But What Is A Chargeback?

A chargeback is a way for your bank to reverse the fraudulent transaction. Instead of letting scammers run with your hard-earned money, get help immediately. Contact us via online chat to book a free consultation, and let’s take the first step towards a refund now!

What Is SafeTradez?

SafeTradez is an online Forex and CFD trading provider from Serbia without a license.

Is SafeTradez Regulated?

No, SafeTradez is not regulated and has been accused of conducting scams around Europe.

Is SafeTradez A Scam Broker?

SafeTradez has been blacklisted in the UK and Italy for conducting fraud.

Professionalism and experience are just some of the things this broker lacks despite claiming to have them. Any trace of specialized service and quality features is lost in the sea of lies that these miscreants desperately cling onto. 

Join us as we expose the terrible trading conditions and worst brokerage service yet in our Spiral Capital review.

Completely Unknown

The conduct we’re reviewing today involves another suspicious entity with an entirely questionable existence. The office address we found on the site says that the firm is headquartered in Luxembourg. 

However, while trying to verify this information with the authorities in this country, we actually stumbled upon a warning. The alert was issued by the state regulator, CSSF, which said that the business was not granted permission to offer online financial services. So, is Spiral Capital legit? Evidently not. This warning was also posted by CNMV, which means that the fraudsters are targeting traders in Spain as well.

Regulation is the most important part of any business deal you strike online. Financial regulators have imposed strict requirements, such as segregated bank accounts and compensation funds, to protect client interests.

Victims Found Everywhere

We understand that Spiral Capital investment offer may sound attractive to beginner traders. After all, who wouldn’t want to find a deal that only requires them to throw in some cash and wait for guaranteed returns? This is what boiler room operators usually offer to their victims.

The truth is, unfortunately, far more grim than that. All the profits are entirely fictitious, and even the initial deposits are lost to scams. Victims from these countries can confirm that:

• Japan
• Australia
• Spain
• France

This unscrupulous site has been baiting newbie investors since 2023, so if you, too, are having issues with payouts, we recommend you contact us promptly.

Absence of Trading Technology

Another solid proof that this deal is nothing but a financial trap is the fact that there’s no trading software offered. Once you enter the client area, you will find options related to buying plans, boosting your account, and depositing. Alas, it has nothing even remotely related to a trading terminal. 

Without any software solution, it’s hard to believe that anyone could make a single cent on this shady portal. This is enough of a reason not to invest here at all. Another aspect of trading that clients are completely oblivious of is the available trading instruments.

Plans

Spiral Capital investing options are nothing we haven’t already seen on various fraudulent websites. When you take a look at the alleged passive income, you’ll immediately be drawn to deposit real cash. 

That’s exactly what the con artists want, which is why they’ve formed investment plans with the following features:

• Vip Plan – $5,000 – 5 % ROI every day for 365 days
• Gold Plan – $5,000 – 50% ROI once after 72 hours
• Advanced Plan – $1,000 – 30% ROI once after 48 hours
• Lite Plan – $20 – 10% ROI once after 24 hours

Costs Can’t Be Zero

The company makes an incredibly bold claim that they offer 95% of global assets with 99% efficiency. This outrageously profitable service doesn’t seem to come at any cost to the client, however.

After all, the website never mentions any fees, commissions, taxes, swaps, spreads, or other charges a legitimate firm would charge. Now, this may seem like an oversight on the fraudsters’ part at first glance, but it’s all by design.

You see, without a clear and unambiguous billing structure, the con artists can invent any fees they like at any time. Then, like with LWEX, clients will be asked to pay additional money to cover the fees. This is known as an upfront fee scam.

Crypto Withdrawals Only

The website advertises “Extensive” deposit methods that allow for great flexibility when it comes to payment options. In reality, the client dashboard features only direct crypto wallet transfers. This service isn’t automatic, and clients must register their investments through the boiler room agent. Supported blockchains are Bitcoin and USDT TRC20.

When it comes to withdrawals, the situation is similar, but with one twist—the payout never happens. After all, that’s what the people who posted Spiral Capital reviews claim.

Nobody Works in Support

Allegedly, there are two support methods for company clients. These include the email option and online chat. We’ve tried the online chat to get some info on the fees, but the chatbot told us that the team was offline.

After a while, we came back and came to the conclusion that the team is always offline, unless they decide to contact you first. This is done so that you have to go through the same scam solicitor that got you into this precarious situation in the first place.

Scammers Took Your Cryptos? Call Us For Help!

The Spiral Capital scam works similarly to Osprey FX in a way that they work almost exclusively through cryptocurrency transfers. This presents a unique set of hurdles when it comes to asset recovery.

Our expert team is well-equipped for this task. Using specialized software, we are able to confidently track cryptocurrency transactions. Should you require help with asset recovery, feel free to book a free consultation by using the live chat on our site.

FAQ

Is Spitral Capital Legit?

No, this investment firm is completely illegal and unauthorized. We advise all our readers to completely avoid this entity.

How To Recover Money From Spiral Capital Scam?

Recovery of cryptocurrencies is a tricky business. Our experts can help, so make sure to book a free consultation as soon as possible!