Anonymity is one of the main ideas behind the creation of cryptocurrencies. When different fraudulent groups found out about this, they created a myriad of ways to exploit decentralized finance as a whole.

Our LWEX review will show you how these groups operate, what they use as a front, and how to avoid investing with an unlicensed crypto exchange.

Taking Anonymity to the Next Level

The company that would be the LWEX exchange was never clearly stated. It is impossible to tell whether there is a holding company or if it is an entity of its own. No nation is ever mentioned, nor is there any mailing address. The whereabouts of the HQ are, thus, completely unknown. Naturally, this extends to legal jurisdictions as well.

If you look into the Terms and Conditions document, the court with legal precedent is the Chamber of Commerce International Court of Arbitration. Of course, this is utter rubbish and is intended just to make an impression on the readers.

Thoroughly Unlicensed Exchange

Over the years, the international cryptocurrency markets have exploded in popularity. The allure of completely digital assets being traded has attracted numerous investors. This has prompted numerous financial regulators around the globe to impose strict regulatory conditions.

In the EU, for instance, the crypto framework is defined by the MiCA Act. It outlines restrictions imposed by the regional regulators, such as a leverage cap of 1:2 for crypto assets. In the US, a similar framework is imposed by the SEC.

It’s a given that any exchange that seeks to provide its services needs to have an appropriate license. After checking with several regulators, including FCA, BaFIN, AMF, and SEC, we learned that the LWEX crypto exchange does not. The claims of an MSB registration found on the site are bogus as well.

Trying To Cover Up The Fraud

While the exchange claims to have been in service since 2018, this could not be further from the truth. The actual lwex.com domain might be from 2006, but this is because the fraudsters purposely chose it for its age.

In reality, the domain first started hosting the exchange in 2024, targeting these particular countries:

• Greece
• United Kingdom
• Belgium
• Poland

The LWEX reviews page on TrustPilot is flooded with fake reviews. A more realistic picture can be found on Reddit, with numerous complaints from defrauded individuals.

Hiding By Imposing a Closed Group

It is impossible for regular website visitors to open an account. Creating a LWEX login requires a promo code, which must be obtained elsewhere. The code is provided either by the company’s boiler room agents, in a scheme similar to Pylwex.com, or by someone who’s already been inducted into the fraudulent circle. In short, the firm operates as a crypto pyramid scheme and encourages victims to seek out new people to bring into the fold.

Much of the work is done online, through social networks and online chat rooms. Or, employees of fraudulent call centers contact the victims directly by phone and promise great returns on investment.

Restricted Access to the Trading Room

Without a valid LWEX account, you can’t gain full access to the trading platform. We say “full” access because it is possible to glimpse the trading floor before you get locked out. Some security, huh?

As you’ve probably guessed, the “advanced” trading software is just another WebTrader. It’s the same as any other similar platform used by other cons like Tipitek, only this time it is colored black and gold.

Dangerous Phone App

The more problematic option is the mobile app. This is not available through regular outlets like Google Play or AppStore but directly from the cheaters’ website.

Of course, your device will complain about installing an app from an unknown source. No problem for the cons since they’ve made sure to post a step-by-step tutorial on how to circumvent device security!

After taking a thorough look, we learned that the app is intended to take control of your Google Pay and Apple Pay programs. This way it can siphon your money off to an unknown account!

Unknown Service Costs

There are several costs you can expect when trading crypto on any regulated exchange. These include Maker and Taker fees, blockchain gas prices, and sometimes commissions. Derivative trading, like perpetual and crypto CFDs, usually includes leverage and swaps as well. Payouts usually incur another fee, and so on.

None of this was ever discussed in this exchange. Since no trading ever takes place, swindlers don’t need to bother inventing any of these costs. They benefit more if the victims think there are no fees, after all.

Don’t Expect a Withdrawal

With a company fully compliant with regulatory conditions, you can simply expect to file a withdrawal request and have your money paid out in full. With cons, however, this is not the case.

The majority of these faux exchanges will only allow clients to withdraw a relatively small sum, and only in order to proliferate the idea of legitimacy. In this case, the payout conditions are never openly stated. There is no info on which channels clients may use, how long the processing takes, or what amount of fees one can expect. This lack of transparency allows the charlatans to invent any excuse to deny a payout.

Help Desk Doesn’t Respond

Customer service is available 24/7, allegedly. Two means of contacting the service are provided: email and online chat.

The chat itself is a simple web form, where the client may post a query and attach a picture. We tried this option since it seemed the quicker of the two. Unfortunately, we never got a reply after waiting for about an hour.

Scammed? Get In Touch With Our Experts!

LWEX scam exchange has somehow managed to avoid the attention of the authorities, even though it has been a thorn in the traders’ side for a couple of years now. The platform exists solely to steal from its hapless victims and nothing else.

If you’re one of the thousands of investors who have fallen prey to this scheme, don’t give up the fight! With the help of our experts, you can start a recovery procedure and see your money returned. Feel free to contact us at any time via the live chat.

FAQ

Where Is The LWEX exchange registered?

The location of the company HQ is completely unknown. The firm is illegal, and operates with no supervision from the authorities.

How Can I Get My Stolen Cryptos Back?

Recovery is possible with the use of advanced blockchain analysis solutions. Get in touch with our recovery experts to learn more.

Usually, German regulators react quickly when people report a trading scam. We can see the same thing now with the official report of AuxCapital broker.

Without further talk, we’ll go straight to facts. Our detailed AuxCapital review will help you understand why some brokers are better avoided.

Is AuxCapital an Unregulated Trading Scam?

As we found out from the German warning, Aux.Capital is owned by Iridiscent Group LLC, registered in Saint Vincent and the Grenadines. And indeed, such a company entered the SVGFSA register in July 2022. 

However, here’s the issue. The Financial Services Authority is only here to register a company. They do not supervise the Forex market, nor do they issue licenses. In fact, they ask brokers to obtain a license in the country of service. Therefore, AuxCapital should’ve completed registration with the FCA, ASIC, BaFin, or any Tier 1 authority. As you can guess, they disregarded this obligation.

AuxCapital is an anonymous, unregulated trading brokerage. The company received a ban in Germany as it’s soliciting German investors without appropriate authorization.

If you’re wondering why it matters, the answer lies in your fund safety. With licensed brokers, especially those holding reputable regulations, you have a compensation fund and can always contact authorities for help. With the unlicensed offshore scheme, no official financial body can assist you and reimburse you.

Warnings Issued by Financial Authorities

In January 2023, the German regulator BaFin issued an official warning against AuxCapital. According to it, the company solicits German investors without an appropriate license. Furthermore, BaFin requested assistance from the Federal Crime Police to resolve the matter.

It only shows that there are many victims and that the scammer in question is serious in its intentions to steal the money. Be wary.

Where Does the Broker Operate? – Countries Of Service

Scam brokers advertise their offers through social media and Google Ads. They often sell something they don’t offer or can’t deliver. For instance, they may promise sophisticated tools such as trading bots or guarantee profits.

On that note, we researched where Aux Capital advertises. We found their presence mainly in the following countries:

• Turkiye,
• UK,
• Australia,
• Switzerland.

The website was registered in October 2022 in the GoDaddy WHOIS database. Since then, many negative reviews have been online, indicating a scam.

AuxCapital Trading Software Choice

As you can already guess, Aux Capital didn’t bother to offer reliable trading software. After all, this company only cares about its own profit over your fund’s safety or market success.

In fact, this is why they chose to provide WebTrader. As it’s a part of their website, they can manipulate it, change your trades, and lead you in any direction. Broker employees can convince you that you earned a lot of profit and that now is the right time to deposit more. On the other hand, if you refuse, they can make it seem as if you’re missing money for the margin.

This is why we always recommend third-party terminals such as MT4, MT5, or cTrader over any browser-based software. Not only will you get more safety, but also access to more analytical tools for market research. After all, you need the tools if you’re going to make that money.

Trading Assets Offer

Surprisingly, AuxCapital doesn’t offer access to the most popular market today, the crypto market. In fact, you can only trade in four asset classes, those being:

• Currency pairs – EUR/USD, GBP/NOK, AUD/SEK
• Commodities – gold, silver, natural gas
• Indices – AU200, BE20, DAX30
• Shares – Alibaba, Amazon, BOA

The spreads are advertised as narrow, but it means nothing. You have no guarantee that what you see today will stay tomorrow or even for the next hour. Unregulated brokers determine their own market terms, often robbing their clients.

Leverage, Spreads, and Fees

Besides the description mentioned above of narrow spreads, we know virtually nothing. Commissions are not listed, but that definitely doesn’t mean you won’t be heavily charged. 

As per leverage, it ranges from 1:10 to 1:100. Note that the EU follows the ESMA directive and sets a limit of 1:30, just like Australia. In the US, the leverage limit for retail traders is 1:50. Simply put, AuxCapital offers more leverage, exposing your money to greater risk.

Account Types to Choose From

You surely won’t lack account types created with the idea of getting more and more money out of you. Here’s what the broker offers:

• Silver – $250
• Gold – $1,000
• Platinum – $5,000
• Diamond – $10,000
• VIP – $25,000
• Partner – $50,000

With each higher account, you get a bigger order size, more trading tools, and higher leverage. 

Negative Balance Protection

Another feature mentioned with all account types is negative balance protection. It enables you to trade without fear of losing your entire account balance and going into minus. Simply put, once you lose your capital, your account is automatically closing.

While regulated brokers are obligated to provide this feature, we doubt a scammer like AuxCapital will do it.

Can I Use a Demo Account? 

You cannot use a risk-free Demo as there’s none. Companies often don’t allow you to test the system when they have nothing to offer. Or their offer is bogus enough that it’s better you see nothing.

On the other hand, legitimate brokers will be happy to provide you with a trial account so you’ll build confidence in their services. Don’t settle down, and don’t accept anything less than full service from your broker!

Withdrawal Issues With AuxCapital

Unsurprisingly, clients are reporting withdrawal issues with AuxCapital broker. In its Refund Policy, the firm lists the following payment methods:

• Debit/credit card,
• Wire transfer.

The profit has to be transferred to the same means of the deposit, up to the amount you invest. The excess shall be transferred to your bank account. However, the firm also says you’re not allowed to hold them responsible for any delays or issues with a payout.

Simply put, they can claim that they have sent you the money, and there’s nothing you can do if that money doesn’t appear on your credit card or bank account. This is illegal and you should report any issues immediately.

I Was Scammed by AuxCapital; What Can I Do?

If you find yourself scammed by AuxCapital, report it immediately. You can request a chargeback within up to 540 days since the transaction occurred, so it’s crucial to begin immediately. Don’t wait for more time to pass.

Suppose you don’t know where to begin. Our chargeback experts will gladly show you how to start the process and provide you with guidance and assistance. Don’t wait; book your free consultation now!

What Is AuxCapital?

AuxCapital is an unregulated online trading brokerage allegedly based in Switzerland.

Does AuxCapital Offer a Demo Account?

No, AuxCapital doesn’t offer risk-free Demo accounts to its investors.

What Trading Platform Does AuxCapital Offer?

AuxCapital offers you a basic WebTrader without any special analytical tools or features.

There are many reasons why a regulator would ban some brokerage. Details of this particular one will be elaborated on in our unbiased BitWest Group review.

Make sure you stick with us until the end. We’ll do our best to provide you with sufficient information as well as details about possible fund recovery.

Is BitWest Group a Regulated Forex and Crypto Broker?

BitWest Group has quite a nice website presentation. The company is telling us all about its operations dating back to 1994. They represent themselves as the “leading global technology-enabled liquidity provider in financial products.”

However, they don’t elaborate on the owner, headquarters, or anything of relevance. The only thing we can rely on is the statement in the Terms and Conditions, referring to the law of Saint Vincent and the Grenadines as the governing law. However, this country has no official regulator of Forex brokers. In fact, FSA strictly directs broker companies to opt for a license in the country of service before attempting to register offshore.

Since BitWest Group is clearly unregulated, they can’t register their business in SVG. Hence, the lack of details about the owner’s name. This is good enough for us to understand that being involved with this company is dangerous for your money.

Warning Issued by Financial Authorities

The UK FCA has issued an official warning regarding BitWest Group broker. According to their notice from the 19th of May, 2023, the authority says this company has no approval to offer financial services to UK residents.

Therefore, it’s clear that officials agree with us. This investment firm is a bogus scheme, and you should avoid it by all means.

Traders’ Opinion of BitWest Group

We turned to Trustpilot as our source of traders’ opinions. The company is rated average with 43 reviews at the time of writing. However, 47% of them are 1-star, meaning the score will surely decrease.

According to most recent comments, the broker transfers customer funds to a Binance account, then to their own wallet. If you succeed and make a profit, they’ll ask you to pay for financial verification and even claim they’re from Binance support. It’s a typical hit-and-run trading scam you ought to avoid.

Countries Of Service

Now that we know how BitWest Group operates, let’s see where they do it. According to web traffic analysis, the majority of victims come from:

• UK,
• Germany,
• Netherlands,
• Serbia.

Each of these has its own respective regulator, and any does not approve our scammer here. They registered the domain in the GoDaddy WHOIS database on the 8th of March, 2023, and already earned a negative reputation.

Available Trading Platforms

Once you register, you can access BitWest Group’s trading platform. It’s a basic WebTrader we’ve seen before, with similar scams such as Definite Area.

On the left side, you can find an asset overview, while on the right side, you can see traders’ sentiments about the asset and place buy/sell position. You can find a basic candlestick chart with several indicators in the middle. However, no special features such as Stop Loss, social trading, or bots exist.

This software cannot be compared to far more superior alternatives such as MT4, MT5, and cTrader. With any of these, you’d get a mobile app and access to the most advanced features and add-ons.

Trading Instruments on Offer

The company offers trading in the following assets:

• Currency pairs – EUR/USD, USD/NOK, AUD/SEK
• Commodities – gold, coffee, natural gas
• Indices – AU200, DAX30, CAC40
• Shares – Adidas, Adobe, HSBC
• Cryptocurrencies – BCH, USDT, USDC

Leverage, Spreads, and Fees

However, they don’t disclose details about commissions and trading costs. The platform shows 0.2 pips for EUR/USD pair, which is quite solid, but not necessarily true. Once you deposit funds, the spread might change. Additionally, leverage is not disclosed, meaning you don’t know the risks.

Account Types – What’s the Difference?

There’s an extensive list of seven different account types, as follows:

• Basic – $250
• Bronze – $5,001
• Silver – $15,001
• Gold – $50,001
• Platinum – $150,001
• Diamond – $500,001
• Black – $1M+

As you can tell, price gaps are not small. However, all you get is more free withdrawals and alleged financial advisers. Knowing that the company is not licensed, it’s clear that it cannot provide any kind of financial services.

In addition, the Demo account is not enabled, meaning you will have to pay the minimum deposit just to test the system.

BitWest Group Withdrawals – How Can I Get My Money Back?

We have to admit that we were discouraged after reading the reviews. We don’t believe getting the withdrawal is possible at this point. In addition to customer stories, the company has some malicious clauses to prevent you from payouts.

For instance, if you accept a bonus, you cannot request a withdrawal before reaching the minimum trading volume: bonus amount divided by two in standard lots. So, suppose you got a $200 bonus; you need to trade 100 lots, equal to $1 million.

The Refund Policy is entirely blank, meaning you cannot get a refund under any circumstances. As per payment options, the company advertises debit/credit cards and bank transfers. Considering that everything so far has been phony, we cannot trust this either.

What Should I Do If I Was Scammed by BitWest Group?

Online trading is only profitable if you can withdraw the money. Otherwise, you can see virtual earnings on your screen and nothing else. This often happens if you deal with scammers such as BitWest Group.

If you cannot get a payout, book a free consultation with our chargeback experts. We’ll gladly assist with the matter and find a way to help! It’s not all lost; we’re on your side!

What Is BitWest Group?

BitWest Group is an unregulated online trading brokerage without a license.

Does BitWest Group Offers a Demo Account?

No, BitWest Group doesn’t offer its customers a risk-free Demo account.

Is My Money Safe With BitWest Group Broker?

Since the broker is unregulated and banned by UK authorities, your money is not safe with BitWest Group broker.

Under the pretense of providing the most lucrative trading conditions and tools on the market, WorldForex invites you to invest in their suspicious services. The website owners even go as far as trying to pass as legit without a Forex license.

The w.forex.com domain has a long history of changing ownership and purpose, until it got in the hands of an imposter broker. Read all about it in the following WorldForex review.  

Blacklisted Owning Company

In 2016, WorldForex registered in Vanuatu as Existrade Limited and got licensed by the VFSC. The firm was deregistered in 2022. In 2018, Existrade Ltd was incorporated in SVG, and is still registered with SVGFSA. 

This authority, however, doesn’t license nor supervise any broker dealers, and registration isn’t enough to make WorldForex legit. During 2020, Existrade was blacklisted by CNMV for operating es.wforex.com with no license.

Existrade Ltd allegedly has three branches – in SVG, BVI and St.Lucia, but none is regulated by local regulators – BVIFSC or FSRA. Even if they owned an offshore license, it wouldn’t mean much for the funds safety. 

The only redeeming fact is that WorldForex is a member of the Financial Commission, thus allowing a compensation of up to 20.000EUR per complaint. 

Who Are WorldForex Main Targets?

The wforex.com domain changed hands multiple times since 2004. WorldForex only acquired the domain in 2016.

In the time since, WorldForex has offered services mostly in these nations:

• Thailand
• India
• United States
• Ukraine

New clients are attracted to WorldForex thanks to the company’s old days when it did have a license. Now, most of them come to the site thanks to paid reviews, boiler room agents and customer referral programs.

No matter how lucrative their services seem in the advertisements, remember that WorldForex is an unlicensed firm. If you need help recovering funds lost with WorldForex, contact our chargeback experts.

Reputation Doesn’t Stand To Scrutiny

It’s not all sunshine and butterflies on the WorldForex TrustPilot page. Many of their 220 total testimonials were posted in batches, which tells us they were from review seller networks.

If you filter these comments to show 1-star rating, you’ll see what the company is all about. WorldForex customers complain that their trades were manipulated, and that the broker won’t allow a payout.

Excessive Leverage And Dubiously Low Spreads

Almost all of the WorldForex accounts provide an abnormally high leverage of up to 1:1000, which could easily lead you to bankruptcy. On the other hand, spreads are quite attractive – floating spreads on some accounts start with as little as 0 pips. However, the broker doesn’t reveal the amount of commission per turn in that case.

100% Deposit Bonus and Partnership Programme

Any customer that invests at least $100 is eligible for a deposit bonus. This bonus is granted as a credit and is therefore unavailable for withdrawal. 

Referral system is divided in 3 levels and the total bonus you can allegedly acquire is at least $201.

Deceptive Trading Tools

As a way to easily persuade customers into investing, WorldForex offers prestigious MT4 and MT5. Trading account types function under risky conditions, but are all affordable, nonetheless. A wide variety of instrument classes is also available to choose from, but other swindlers like INVcenter use similar deceptive methods, so beware.

MT4 and MT5 Available

To design their offer as attractive as possible, WorldForex is a step ahead of your ordinary unlicensed Forex broker. The main WorldForex platforms are MT4 and MT5, available on all devices. The downside, like with the Profit Trade con, is the unlicensed server you’d be trading on.

Standard Assets Offer

WorldForex provides a range of assets that are most commonly offered and most popular to trade nowadays:

• Forex (EUR/USD, EUR/GBP, USD/JPY)
• Metals (Gold, Silver, Platinum)
• Oils (Brent, Crude)
• CFDs on Stocks (Alibaba, Airbus, Disney, 3M)
• Crypto (BTC, BCH, BNB, XRP, DOT)

Affordable Packages

Every WorldForex account costs $1, while the trading costs may vary. What the broker omits from the information table is the commission applied. This is which accounts are available:

• W-CENT-fix – $1
• W-CENT – $1
• W-PROFI-fix – $1
• W-PROFI – $1
• W-CRYPTO – $1
• W-DIGITAL – $1

Mobile Platform Availability

The WorldForex platforms are available for downloading on mobile devices too, besides the web and desktop versions. However, these are downloaded directly from the MetaQuotes website. The broker itself hasn’t customized the mobile app for trading on their own server.

Demo Version For All Accounts

If you’re unsure about buying a live trading account, you have the option to test out the environment first. You’re able to do that via a Demo account supplied with virtual funds. Beware of the broker’s tendency to shift the information for the sake of convincing you to open a live account. 

Poor Knowledge Base

In an attempt to also show dedication to helping novices learn, WorldForex supplies them with some limited materials. These sources only consist of short questions and answers, as well as some step-by-step instructions on how to perform certain actions. This choice of learning resources isn’t sufficient in any way.

WorldForex Withdrawals

The first detail that sounds suspicious about the payouts is the estimated processing time being 30 minutes. Commissions and taxes on money transfers occur during withdrawals. Some of the ways to perform a transaction are:

• Credit Cards
• Bank Wire
• E-wallets
• Crypto

Considering the fact that WorldForex isn’t licensed, you cannot expect full transparency and hustle-free operations.

Customer Service

WorldForex lists a number of different phone numbers, mail addresses and emails in the contacts page, but only a single email is reserved for customer support. The main option for reaching customer service is the live chat, but the support agents aren’t readily available. In the end, all you can do is leave a message and hope for the best.

There’s A Solution For Being Scammed!

Although so far WorldForex seems like a broker with a lot to offer. However, their dark past, the company being blacklisted and now operating without a license speak of their reliability.

In any case, know that there’s a way to restore your funds if they are locked by a fraudulent brokerage. You can quickly get in touch with our support crew via the Online chat and book your free consultation. 

FAQ Section

What Is WorldForex?

WorldForex is a SVG broker without a valid license and with a blacklisted owning firm.

Is WorldForex Legit?

No, although the parent company owned a VFSC license in the past, that is not the case anymore.

How Can I Trade With WorldForex?

Although the broker claims trading is possible on MT4 and MT5, they’re not to be trusted without regulation. It is better to contact our legal experts team and claim your withdrawal asap.

In the GSL Markets Review, you’ll learn the truth about this malevolent cyber fraud that’s nowhere near a transparent and reliable brokerage. 

A vague website that lacks key information about this business indicated that we were dealing with a scammer. After some more digging, we found evidence and warnings to support that claim.

Also, avoid the trading frauds Royal Oak Investment, Bullexo, and ViaChains at all costs! Moreover, before investing, always look into the past of internet trading firms!

Is GSL Markets a Scam Forex and CFD Broker?

Without a doubt. At first, we were unsure where this broker came from but later found that the answer is Bulgaria. Yet, the Bulgarian financial market regulator – the FSC, has nothing on GSL Markets in its database.

Therefore, this alleged broker is not licensed to provide services. If that isn’t enough, we also found several warnings against GSL Markets.

GSL Markets is an anonymous scam broker that allegedly offers Forex, crypto and CFD trading. This investment scam is aimed at traders from Austria, Australia, Switzerland, Norway, Ireland and the US.

Arguments For Trading With a Licensed Broker

If you’re looking for a decent European broker, know that providers from the EEA zone have to abide by strict rules and met certain conditions set forth by the main regulator ESMA in order to operate.

A European-based broker should possess a minimum operating capital of 730,000 EUR, provide clients with a segregated account, leverage restriction (1:30) & negative balance protection, including a compensation scheme worth up to 20,000 EUR and transaction reporting.

Warnings from Financial Regulators

This is the final nail in GSL Markets’ coffin. Namely, we found three warnings issued against the phony broker. The Austrian FMA, Belgium FSMA and Spanish CNMV all put GSL Markets on their blacklists.

This should be enough to deter you from trusting this fraudster. Check out the warnings, especially the one from FMA for the nasty details about the scam:

Customer Reviews of GSL Markets

After reading the warnings, we decided to hop over to Trustpilot and see what traders had to say about GSL Markets. Unfortunately, there were some awful experiences with this broker.

At the time of this writing, the shady broker had a total of 30 reviews with an average score of 2.1 (poor). The page is full of scorning comments similar to this one:

Had the service for over a year and half. All my money was gone within a week, and I am not doing anything that should is illegal. Found out it’s the CEO that is fraud…

Trustpilot user, December 20, 2022.

Overview of GSL Markets’ Trading Platform

Meta Trader 5. Yes, the famously renowned trading platform and the beloved choice of the most experienced traders. It’s truly cutting-edge software that enables algorithmic trading, branch optimization, API integrations and more advanced tools.

However, there’s a huge problem with the version that GSL Markets provides. The software actually belongs to Stockton Ltd, a controversial Bulgarian company that rents platforms to traders. This MT5 isn’t legit.

What Financial Instruments Does GSL Markets Include?

Let’s take a look at the trading offer. According to the website, GSL Markets offers the following instruments:

• Forex pairs – EUR/USD, GBP/JPY, AUD/CAD…
• Indices – IBEX35, NIKKEI225, DOW30…
• Commodities – silver, gold, crude oil…
• Shares – Tesla, Netflix, Google…
• Crypto assets – BTC, BNB, ETH…

We have to say it’s quite a nice list. But, after everything that’s been said about GSL Markets, we wouldn’t trust this fraudulent broker. 

Areas Of GSL Markets’ Scam

It’s important to outline where this fraudster engages in its illicit activities. It seems that GSL Markets is quite busy targeting traders from various countries:

• Austria;
• Australia;
• Ireland;
• Switzerland;
• Norway;
• The US.

It’s important to put as many regulators on alert as possible. Only one from the list has issued a warning against GSL Markets. We could use all the info we get here.

​​What’s more, we strongly recommend that you avoid the fraudulent brokers Vestapros, TIQ FX, and Equalpros.

GSL Markets And The Types Of Accounts Offered

Here’s a quick overview of the account types that GSL Markets offers:

• Bronze – 10,000 $;
• Silver – 20,000 $;
• Gold – 50,000 $;
• Premium – $100,000; 
• Platinum – 250,000 $. 

The minimum deposit requirements listed above are atrociously high. It’s insane that you need 10,000 $ to open a live account.

The leverage caps at 1:500, which is illegal and absurdly higher than the restriction (1:30). As for the spreads, GSL Markets claims to offer 0.1 pips but didn’t disclose commissions.

GSL Markets’ Deposit and Withdrawal Policies

GSL Markets wasn’t so clear in terms of withdrawals. This implies that there won’t be any withdrawals made. The minimum deposit is 250 $. Once the fraudster gets that money, it will probably cease all communications.

The deposit methods include credit/debit cards and wire transfers. The former has a 5% withdrawal fee attached.

GSL Markets’ Deposit Bonuses

Here’s where it gets tricky. GSL Markets included a 100% welcome bonus. However, it’s not rainbows and butterflies as the scammer put it. There’s a clause that requires you to trade up to an insane volume (100,000 $) to be able to withdraw funds. That way, GSL Markets prevents you from getting your money.

GSL Markets’ Terms and Conditions

The whole T&C section is one big lie. Given GSL Markets’ illicit status, there are no AML and KYC policies active. There’s also no regulation or jurisdiction. Just remember that there are warnings against this fake broker.

GSL Markets Broker Scammed You? – Please Tell Us Your Story

If you’re among those who’ve been defrauded by GSL Markets, we feel for you. That’s why we want to help you. 

There are ways of getting a refund. Here, we’ll describe them briefly but if you need further help, don’t hesitate to give us a call.

What Is the Chargeback Procedure?

• Credit/debit card transactions can be reversed via chargeback.
• This process should be requested at the issuing bank within 540 days.
• Wire transfers can be reversed with a recall.
• If the transaction is complete, the recall will not be possible.

If this broker steals your money, you can contact us for help!

What Is GSL Markets?

This is an outrageous investment scam on the Internet. Don’t trust this phony broker.

Is GSL Markets a Scam Broker?

Of course. The broker is unlicensed and has been blacklisted by three renowned regulators.

Is GSL Markets Available in the United States or the UK?

Yes. Traders from both the US and the UK can open accounts with GSL Markets.

Does GSL Markets Offer a Demo Account?

No. There’s no demo account available. In fact, there’s no “Sign Up” option, only “Log In”.

Conquering world markets is easier said than done. Unscrupulous brokerage firms find it especially easy to throw around such claims related to their services and competitiveness. But when a diligent regulator posts a public warning about them, you know all of their claims are as good as useless.

Read more about it in our Bull Capital Market review and see what you can do to restore stolen investments.

Who Operates This Site?

The Bull Capital Market broker is more likely to throw you into confusion instead of openly discussing their ownership details. Rather than shine a light on their legal background, this swindler has decided it would be best to omit all corporate information from the site.

We did, however, find an address for their alleged headquarters, which should be in the US. NFA, the main regulatory database of legal companies in that country, doesn’t have this firm listed in its register. Nothing else is revealed about this shady entity, so it would probably be for the best not to invest with them at all.

Fails at Being Legit

Now that we’re sure that this firm is completely anonymous, you won’t be surprised to hear that they’ve also been blacklisted. The publication was posted by FCA (Financial Conduct Authority) which is the state regulator in the UK. The alert declares that the Bull Capital Market Forex scheme doesn’t operate under legal supervision and has not obtained the necessary legal permits.

Investing with such Forex dealers will lead you into bankruptcy, as you won’t be protected, and swindlers will jeopardize your funds.

No Limits on Who’s Targeted

It’s quite scary to think how no one is safe from these crooks. As the statistics show, they’ve been actively seeking investors in a number of countries, all belonging to different parts of the world. So far, their most preferred areas of activity have been: 

• United Arab Emirates
• Argentina
• Cyprus
• Egypt

The fact that the scheme has only been active since December 2024 additionally undermines its reputation, as it’s obviously newly registered. Stay away from such sites and contact us immediately if your funds get misappropriated.

Feedback is Scarce

Since they’ve only been in the business for a couple of months, we don’t expect to find many Bull Capital Market reviews online. We’re sure they’ll pile up soon enough, as it seems that defrauded clients are starting to share their more than unpleasant experiences. The one investor that has posted their rating on Trustpilot claims to have lost tens of thousands of dollars to these miscreants already.

Don’t let the same happen to you – contact us and find out how to start a chargeback!

Unusable Trading Features

In order to sign up for this portal, all you need is to enter your name, email and a new password. After verifying the email address, you’ll instantly enter the user area and find a rudimentary trading terminal. 

It’s an understatement to call it a joke of a platform. It resembles no decent trading software, does nothing of use, and is entirely controlled by the con. It lacks all advanced options and tools while being slow and barely functional at all. 

You can also buy crypto on their specialized terminal, but trusting firms like this one and  BTCC won’t end well for your finances.

Choosing Plans Based on ROI

While there is only one standard live trading account, you can upgrade it to an investment plan. These packages guarantee passive returns, while no trading activity from your side is necessary. 

Naturally, this is just part of the grand scam plan, so don’t buy into it, however attractive it may seem. Investment options are so overpriced these values should do enough to warn off potential investors:

• BRONZE Regular – 500 BTC for 25% ROI in 5 days
• SILVER Popular – 2,000 BTC for 45% ROI in 2 weeks
• GOLD Rising Star – 5,000 BTC for 65% ROI in 1 month
• PLATINUM Savvy Investor – 10,000 BTC for 85% ROI in 3-6 months

Hidden Cost Conundrum

For the majority of regulatory bodies around the globe, complete financial transparency is a requirement. This means that firms that do not provide a full insight into various costs cannot operate legally.

Bull Capital Market trading fraud website only makes a passing mention of the price structure. No fees, commissions, swaps, or spreads are ever openly discussed on the platform. The maximum leverage available on the trading app is 1:100. Such a lack of insight indicates that the company is not trustworthy. It either charges unexpected and hidden costs to their clients or extorts the clients through what is known as an upfront fee scam.

Instant Payouts Hoax

To select a payment method, clients can simply open their user panel and choose between one of the available digital coins – USDT, BTC, EHT, or LTC. The fact that only cryptocurrencies are supported means that the blacklisted firm tries to conduct anonymous transfers to avoid legal repercussions. That’s why you should always perform transactions via transparent channels like credit cards. This also helps you retrieve funds in case of fraud. 

Cyber thieves behind this site will claim that your profits will be automatically paid out, but none of that is true, just like with Nominex.

Only Automated Replies

If you’re trying to trade or retrieve funds and are facing issues, the most logical next step would be contacting user support. On this platform, that is only possible via the online form. 

You can describe your problem and send an inquiry to the support office but don’t expect to get any replies. This very case happened to us. The only time we got acknowledged was by automated emails asking us to verify the email address for the new account.

You Can Still Get Your Money Back!

As obvious from the report above, we absolutely do not recommend you invest in the Bull Capital Market scam. If you have done so already and lost your entire investment, you should take the necessary steps to retrieve your funds. 

Our chargeback team is always at your disposal, and you can book a free consultation with our legal experts by contacting our chat agents.

FAQ

What Is The Minimum Deposit With Bull Capital Market?

The minimum amount to invest is 500 BTC, which is nearly 5 million USD. Of course, this is just a number that appears on the website – scammers will be satisfied with a fraction of that amount.

What Can I Do To Recover Lost Crypto?

Collect any information you have about the transaction that led to the loss, and contact our experts. We can help with the crypto recovery, and you may reach us via the live chat.

Mugan Markets broker is owned by Meydan Ltd, a company registered in the Marshall Islands. One of the attractive offers is Mugan Market’s bonus of up to $20.000. Yet, you should be aware of bonus terms and conditions. Don’t let that trick you.

To avoid becoming a potential victim, you should read this Mugan Markets review carefully. But to understand the difference compared to regulated brokers, you should check later our Investous review.

Legal Info: Is Mugan Markets Legit Or A Scam?

MuganMarkets is a company with offshore registration. When it comes to licensing, they don’t even the offshore ones, not to mention more trusted regulations like FCA, BaFin or ASIC. Without these, you can’t expect any funds protection measures. Even if they claim to have.

So, to get segregated bank accounts for deposits, negative balance protection and compensation funds, look somewhere else. After all, this broker exists only since 2022 according to who.is. So, why risk it?

Who Are Mugan Markets’s Clients?

Muganmarkets.com website has quite a short life span. However, they are reaching traders all over the world. Some of their clients and victims are coming from: 

• South Africa
• Netherlands
• United States
• United Kingdom
• Nigeria

Yet, they are not authorized by the FCA to offer services to UK traders. That’s a first scam sign. In case you think that this broker was not genuine to you, contact our refund team for advice.

Traders Reviews

Another warning sign is Mugan Markets Trading reviews. Overall, their 53 reviews look positive. But those might be fake like the whole company. Watch this. 

The company has a disclaimer saying that they don’t offer services to US citizens. Yet, some of those positive reviews come from US-registered residents.

In this case, we prefer to trust more negative reviews. Even though there’s only 10% of those. For now. If you were one of their victims as well, let us know. But also don’t hesitate to sign up for a chargeback with our team.

Trading fees, Spreads, Commissions and Leverage With Mugan Markets

Mugan Markets account types offer different trading conditions. As for the spreads, you can expect from 0 or 0.9 pips depending on the account. But also there’s a commission of $8 per side ($16 per lot). Quite an expensive one. On top of all, they offer an extremely high leverage of 1:500.

Bonuses

Even though the Mugan Markets minimum deposit is low at $50, they offer welcome bonuses up to 100%. Yet, there’s a bonus clause. For every $100 bonus, you have to reach 20 lots in trading volume. Only after that, the bonus funds are unlocked.

So, anything made with bonus is locked. After all, who decides what’s made with a bonus or not? Only this shady broker. To avoid such irregularities, you should always trade with Tier 1 licensed brokers. One of the examples might be the FXGiants.

Mugan Markets Trading Features

All the trading features with Mugan Markets are based on high risks. On the positive side, the company offers a trusted MT4 platform. So, you have to decide if you will trust them or not. But there are many more reasons not to.

Is Mugan Markets Legit?

For a company that operates offshore without any regulations, you can’t say it’s legit. On top of that, they don’t offer any protection to its customers. Not to mention a shady bonus and withdrawal policy. Don’t think it’s created without a reason.

Available Trading Assets

As for the trading instruments, Mugan Markets offers them all. At least 5 major categories. Starting with:

• Forex pairs – USD/JPY, AUD/SGD
• Commodities – gold, cotton
• Indices – DowJones, CAC40
• Shares – Nvidia, IBM
• Cryptos – LTC, ETH, XRP

Account Types

Besides the Mugan Markets demo account, you can choose 3 live accounts. But none of them present some significant difference. Except for extreme expenses. Anyway, you can choose: 

• Classic – $50
• Trader – $50
• Custom – $10.000

Mobile Trading App

On the positive side, the company offers MT4 mobile apps. Whether you are an iOS or Android user, you can download it and log in with your credentials.

Demo Account

As a part of the Meta Trader package, companies have an option for a demo account. Which is also a part of Mugan Markets offer. Therefore, don’t risk your money before you test them out.

Education

As a matter of fact, the company doesn’t offer any educational program. Instead, there’s a blog with basic trading articles. To understand the huge difference between education, check our Trade245 review.

Mugan Markets Withdrawal

Mugan Markets withdrawal is an interesting topic. Primarily because of missing licenses. But also because of a shady withdrawal policy. Thus, for the funding methods they actively promote crypto transfers. Be careful with those because it’s an irreversible transfer.

Customer Support

Many traders already complained about Mugan Markets broker support. It’s not surprising considering their Mugan Markets fx contact options. You can only get in touch via e-mail, web form and live chat. And they can ignore it all, of course.

Key Information To Consider About Mugan Markets?

Firstly, the Mugan Markets is not regulated. Also, they offer services in countries like the UK and the US without authorization. Not to mention fake positive reviews and malicious bonus clauses. Small irregularities are numerous. So, avoid this broker at all costs.

But if you already became their victim, don’t bother. Our refund team can advise you on further steps in detail. Book your first free consultation now.

FAQ Section

What is Mugan Markets?

Mugan Markets is a shady and anonymous offshore brokerage operating from the Marshall Islands since 2022.

Is Mugan Markets Regulated?

No. The company doesn’t have any licenses. Especially not form the UK or US regulators where the company operates.

What Is The Minimum Deposit For Mugan Markets?

The minimum is only $50. But even that is a risk with them. If you did deposit any money, get in touch with our refund team for immediate advice.

With a torrent of misleading regulatory claims, Win ICoin is the latest trading investment scam. Regulators have begun releasing cautionary statements about using this trading broker. Those that opened accounts are now remorseful. In our honest and comprehensive Win ICoin review, you will find everything you need to know.

What About Win ICoin Regulation?

Although Win ICoin purports to be a genuine broker with excellent trading conditions, it is not. In the United Kingdom and Australia, as well as Germany, South Africa, and Cyprus, they are unregulated. Furthermore, financial regulators in Switzerland and Italy have identified Win ICoin as a scam and have blacklisted the website.

Why Is It Important For A Broker To Be Licensed?

A broker must obtain a trading license in order to trade currencies or commodities. A Tier 1 license signifies that the broker adheres to regulatory guidelines and is protected against client losses. However, you should avoid dealing with Win ICoin because they are not licensed.

In order to add to the above, we strongly advise you not to invest in CoinEvo, Crypt Node and Cryptwise fraudulent brokers.

Win ICoin Warnings From Financial Regulators

Win ICoin has been added to the Swiss Financial Market Supervisory Authority’s (FINMA) warning list.

The Italian regulatory body CONSOB has also issued a warning regarding this trading platform.

Traders’ Reviews About Win ICoin

Win ICoin reviews are overwhelmingly negative. Hundreds of clients have expressed their outrage on social media and trading forums after the platform denied their withdrawal requests. As a result, we strongly urge you to never invest with this scam broker.

Win ICoin Platform – Own Trade Software 

Experts recommend using well-known trading platforms like MT4, MT5, and SIRIX, whereas Win ICoin uses its own platform. Custom-built trading systems, on the other hand, are frequently insecure. Furthermore, the primary objective of custom-made web traders is to project the image of a legitimate organization while doing nothing. 

Support In Customer Service

The platform blocks all communication channels when funds are deposited. However, the site will first send you a few emails in an attempt to get you to deposit. The platform may even phone you in some circumstances.

All About Win ICoin Accounts

On its site, the broker offers three different account types: 

• Start – $5,000 minimum deposit
• Progressive – $10,000 minimum deposit
• Premium – $20,000 minimum deposit

Each of these accounts has its own set of characteristics and is intended to appeal to a wide range of investors.

Win ICoin Broker – Countries Of Service

The trading company appears to primarily work in the following countries:

• Germany
• Montenegro

Win ICoin Range of Trading Instruments & Markets

The following markets are available to trade with the broker:

• Currencies
• Metals
• Stocks
• Commodities
• Indices
• Cryptocurrencies

It is essential to note that investing with unregulated brokers is risky because they are not regulated.

Also, take notice of the titles of the trading frauds Crypto EU, Cupiro, and Richmond Super and avoid them at all costs! Similarly, before investing, always research the background of online trading companies!

Win ICoin Minimum Deposit

The trading platform asks customers to make a minimum deposit of 0.01 BTC, which is roughly $250. Because there are regulated brokers who give a minimum deposit of $1, this sum of money is regarded as ridiculously large.

Details Of The Bonus Policy

There is no information indicated on their website regarding their bonus policy.

Win ICoin Unknown Trading Conditions

When you first visit their website, you will see that the platform is not what you would anticipate. There is a lot of information missing and unknown on a crucial part of trading. For instance, there is no spread quote for these trading assets.

Leverage and Spread

The firm advertises leverage as high as 1:500 on their website. However, when we checked their platform, it was locked at 1:20.

Win ICoin Deposit, Withdrawal Methods and Fees

The firm solely accepts Bitcoin as a form of payment. Unfortunately, any cryptocurrency deposits are almost certainly gone forever. Because these transfers are untraceable, there’s a good chance you won’t get your money back once it reaches the scammer’s hands.

A withdrawal section was also missing from the trader’s portal. This suggests that customers will never withdraw funds from this site.

High Inactivity Fee

If a client has made few or no transactions for a long time, the trading platform will charge an extremely large inactivity fee. Clients will be encouraged to trade more, resulting in increased profits for the trading company, which is a fake broker.

Payment Method Of Legitimate Brokers

Legitimate brokers offer a lot of payment method options such as debit and credit cards or wire transfers with no withdrawal conditions. You can withdraw your profit almost instantly with some legitimate brokers.

Scammed by Invest Win ICoin Broker? – Let Us Hear Your Story

Let us know if you were duped by Win ICoin broker or any bogus company. During a free consultation, our chargeback experts will assess your case and advise you on the best strategy to recover your payments.

But What Is A Chargeback?

In the event of a scam, a chargeback is a procedure for undoing transactions. Our experts may be able to help you recover your funds if you contact us right away to schedule a free consultation. We can assist you right now.

What Is WiniCoin?

Win ICoin is an unlicensed online trading company, thus you should never trust them with your money.

Is WiniCoin a Scam Broker?

Win ICoin is a scam broker situated offshore that falsely claims to be a registered broker.

Is WiniCoin Available in the United States or the UK?

The broker is accessible in both countries but it is operating without a license.

Does WiniCoin Offer a Demo Account?

Yes, the firm offers a demo account but it is blacklisted by financial regulators so don’t waste your time with them.

Being just another drop in the sea of online trading scams, this broker couldn’t even afford a more unique or attractive web template. 

The design you’ve probably seen several dozen times if you’ve been following our reviews tells us they are nothing more than a common fraudster. Pay good attention to this MarketTrend24 review if you wish to keep your assets safe and far from the dirty hands of these financial cons. 

Fully Illicit

Not a single legal document can be found on the site. In addition, the MarketTrend24 broker hasn’t posted a single relevant piece of company information, for example their headquarters address or contact details. 

Moreover, the anonymous business we’re reviewing can’t be found in any regulatory database or register of business entities, no matter how hard we looked. However, we did manage to find a public warning. The alert was issued by BaFin, one of the most diligent Tier 1 regulators in EEA. 

The warning states that this conduct is “offering consumers financial and investment services without the required authorisation”. That’s your sign to stay away from this site and ignore any of their investment proposals.

How Fake Broker Schemes Work

One of the twin websites, markettrend24.com, has already been shut down. The other, market-trend24.com, is still operational having been launched in April 2024.

The fraudsters actively target people from these countries:

• United Kingdom
• Germany
• Norway
• France
• Netherlands

The broker, if you can call it that, relies on a boiler room to attract victims. These scam call centers work around the clock, with the company agents constantly calling people to invest.

They pitch alleged cryptocurrency expertise and offer unrealistically lucrative trading deals. The trading platform is doctored to show fake earnings in order to keep the clients attention on pretense trading for as long as possible.

The investment is stolen, as with other schemes like WestHillCapital. The sites don’t last long, and it is recommended to quickly start a recovery procedure. Contact our team via the live chat to learn more.

Reputation Built on Lies

The con artists use pay for review seller networks to post misleading MarketTrend24 reviews on popular platforms. Fake firms like this one or Enduring Markets are not to be trusted.

On the TrustPilot ratings site, the firm has a nearly impeccable 4.1 stars score. If we focus on the negative comments, we can see first hand accounts on how these con artists manipulate the trading information to maintain the ruse.

Unrealistic Trading Costs

This broker offers spreads of 1.5 for FX majors for the cheapest account, while the premium account includes spreads from 0 pips. MarketTrend24 leverage, on the other hand, increases with the price of the package, so that the maximum ratio reaches 1:500. 

All other services, transactions and conversions allegedly require no fees to be paid, but we highly doubt the credibility of claims coming from a blacklisted con.

Up to 100% Bonus

Bonuses are a particular scam strategy that helps swindlers keep all of the profit and deposits their clients have made on their portal. 

Once they credit an account with a bonus, they will ask for a trading volume to be reached in order to unlock withdrawals. These are always unreachable, so your funds are forever stuck on illicit trading sites unless you ask for professional help.

Nothing to Offer

Trading features and conditions on this site will not help you become a professional Forex trader. Total equipment is just a bunch of bogus features that serve no purpose. You will make sure of that as soon as you register for a MarketTrend24 login.

Non-Functional Trading Room

Since the trading area can be previewed without a registered account, that’s what we did first. However, as expected, the MarketTrend24 WebTrader had nothing of value to show us. 

None of the basic options and tools is available, let alone the advanced and progressive features which MT4 and MT5 are known for. One look at this rudimentary web trader is enough to make you not want to join this portal.

Basic Offer of Instruments

The MarketTrend24 scam doesn’t even try too hard to make the website visitors believe they have a variety of instruments available. From what we could find inside the platform, there’s just a few most common products groups:

• Stocks – AstraZeneca, Bayer, Daimler
• Crypto – BTC, LTC, XRP
• Forex – USD/EUR, EUR/CHF, USD/GBP
• Commodities – Cocoa, Sugar, Cotton
• Indices – HK 50, CAC 40, FTSE 100

Tiered Trading Account

On the surface level, it appears that there are several MarketTrend24 account types. They are what we call “tiered accounts”, and exist to encourage further spending.

Fraudsters use various benefits like heightened leverage and larger bonuses to justify larger costs. They will often pester their clients to “upgrade” accounts in order to squeeze more funds from them.

There is no information about minimum deposits, and the advertised “free demo” does not work:

• Standard – $250
• Silver – $2,500
• Gold – $10,000
• VIP – $50,000

No Withdrawal Disclosure

As there is no Terms document, you’ll have to rely on information that is available through some FAQs. These are not exactly reliable or precise.

MarketTrend24 withdrawal and deposit can allegedly be done through bank cards, wire transfers and cryptocurrency (BTC) transfers. The company does not allow a payout prior to the KYC being completed, which is the main lockout mechanism.

Support Office is Inactive

Despite our repeated tries to send the request for assistance, no one could receive it. That is because this firm doesn’t even have a help desk for the clients in need of support. However, it is nothing strange to encounter, as not a single fraudster has ever cared about their victims.

Need Help With Recovery? Contact Our Experts

This would-be broker is a known fraudulent entity placed on a BaFIN blacklist. The company uses several deceptive strategies to entrap victims and steal their money.

We never recommend investing with any unlicensed firm, as they are always a scam business. If you have deposited funds with this, or any other fraudulent company, book a consultation with our team. You may do so at any time via the live chat on our site.

FAQ Section

What is MarketTrend24?

It is an online fraudulent scheme that takes the appearance of a forex brokerage to deceive their marks.

Is MarketTrend24 Legit?

No, the company is completely illegal. If you have invested with this fraudulent group, contact our expert team for help with recovery.

Who Owns MarketTrend24?

The website never discloses any information about their ownership structure.

Coinneeew is a completely anonymous, recently established domain meant for pig butchering type of scam.  

The website is clearly meant for mobile use, as it’s overly simplified and lacks any kind of company introduction and conditions. Overall, the structure seems just a skeleton copy of any other similar scam, Coinex being the most famous one of them. 

The website allegedly offers crypto exchange and mining services, but that’s just a lie. Our Coinneeew review is here to expose it.

Coinneeew Legal Troubles

As we always like to emphasize, the crypto license is the only verification of a crypto platform, exchange, investment or mining deal to be legit. Previewing the Coinneeew website immediately makes you think that is not what a regulated site looks like. And you have all the rights to think so. 

Coinneeew is so virtually unknown, you cannot manage to dig out a single piece of useful information. All the company details are missing and there’s not even one hint of who runs it. 

Naturally, the license is missing too. We made sure of that by checking major regulators’ registers, like FCA, CONSOB, BaFin, ASIC and FINMA. Apart from that, if this firm was anyhow licensed, they would publish it for everyone to see, not hide behind an incognito domain. 

All this means that Coinneeew doesn’t provide safe conditions for buying and selling of the crypto coins. You should especially beware of the untransparent transfers, general conditions and lacking software. Data and identity theft are painfully common here. In essence, the site is just anonymous and dangerous like ZES Forex.

Who Is Coinneeew’s Objective?

Investors all over the world join crypto platforms for exchanging, investing and mining. It’s no wonder that some unscrupulous sites look for ways to make money from the ongoing crypto fever. 

So the always friendly yet never too personal agents look for any working method to get you to invest. For Coinneeew the most efficient tactic seems to be emotional manipulation. 

Here’s where this scam has been active the most since their opening:

• Malaysia
• Thailand

Whether or not you’re an investor from any of these countries, you should be careful. As soon as you show interest in a platform, you will be pestered to invest. We can help you to take back an investment eaten by the scam machinery.

The Price They Demand You To Pay

Being faithful to their anonymous status, Coinneeew doesn’t publish any of the costs that could reveal their thieving intentions. Even when we looked at the current price chart it seemed like the exchange costs are below profitable for them. It’s obvious the data is purely artificial and serves the purpose of false impressions. 

As expected from such a shallow and cheap website, no legal docs exist. Nothing explains the idea and purpose of the website and how their services work, along with the costs. 

Coinneeew Tools And Features

Coinneeew practically hasn’t equipped their site with a functional platform. Since without an account we couldn’t maneuver past the homepage, we can’t tell if there’s more to the software. However, from what is visible, Coinneeew plans to do the entire investing and mining through a simple terminal, which is just insane. 

How exactly did this con plan on inspiring trust in their capabilities when their software doesn’t exist? Crypto mining demands exceptional technological conditions and resources, and Coinneeew definitely doesn’t have them. So do not expect to make money here. Just how you can’t with scams like Trustpac.

Digital Currencies Supported

As a crypto platform, Coinneeew doesn’t have leveraged trading available. So you can’t expect a variety of instruments. Instead, they have placed their focus on crypto currencies and exchange. 

The key feature is buying a virtual coin using USDT. The list shows but a few digital currencies available for buying: BTC, EHT, DOGE, TRX, EOS, XAUT, LTC, FIL, ADA, BCH.

As a crypto exchange, you’d expect at least about a hundred available coins. Alas, Coinneeew fails even in that sense.

Is There A Choice Of Account Types?

Forget what you’ve seen on reputable service providers websites. Several types of customized account types for every type of investor do not exist at Coinneeew. As a matter of fact, not even the single available package is described. Investors do not even know what they’re buying when they join and what options the account features.

What worse, you can’t even open an account without an Invitation Code. Unless a scam representative gives you a pass, you cannot otherwise join. Perhaps better for everyone. 

Coinneeew Withdrawals – Do They Work?

Withdrawing money from suspicious websites has always been a persisting problem for most traders. That’s why it’s so important for your site of choice to be fully transparent about all the conditions. We’ve already made it painfully clear that Coinneeew isn’t. 

Crypto being the center of their operation would imply that all the payments are processed via this channel. It is already well known how dangerous and untrustworthy all crypto transfers are. 

Not only because the wallet owners remain anonymous, but also because these payments are definite. Without acquiring legal support, you simply cannot manage your withdrawal to go through. Scammers earn off it, so they have no reason to allow it to work for you.

Customer Support – Does It Even Exist?

The Coinneeew homepage has a button named ”Online Service”. Just when we thought to get help with registration, we were once again disappointed with how Coinneeew acted. 

Clicking the button takes you to a half-empty web page with a picture of a smiling support agent and a message telling you to ask customer service if you have a problem. The area on the page is unclickable, without further instructions on how to contact the Coinneeew staff. It’s as if they do not even exist!

So What Is Coinneeew? Final Thoughts

It must have been evident from our Coinneeew review that this crypto platform is a scam through and through. Without a license and any credibility, this pig butchering scam is ravaging the financial lives of many. 

Please do not hesitate to contact us at any moment you decide you can’t handle the situation without legal support. Especially when it comes to withdrawing money from these cyber criminals. Do not let them get rich by bringing you financial disdain.

FAQ Section

What is Coinneeew?

Coinneeew is a fake crypto platform for exchange and crypto mining services. It operates without a license.

Is Coinneeew Trustworthy?

No, without a valid crypto license, Coinneeew cannot be considered to be credible and reliable. From what it seems, they’re just scamming people for profit.

How Can I Withdraw My Money From Coinneeew?

It’s unlikely of a swindler to allow withdrawals. So better seek help immediately and before it’s too late. Our legal team is at your service at any time.