EarningCrypt is an offshore trading firm similar to numerous others. It doesn’t provide us with basic information, such as company registration number, license, etc. Since we’ve reviewed a dozen of these bogus websites without basic information, we were on the alert. Read our detailed EarningCrypt review and you will discover everything.

Also, we want to invite you to read our recently updated reviews of fraudulent brokers Novobrokers, 44Trades,  and Onotex. Be careful with these brokers.

How Safe Is the EarningCrypt Platform?

EarningCrypt is a broker owned by Deryforce LTD, a company allegedly belonging to the governing law of Seychelles. Before we proceed any further, here are some basic facts about the FSA of Seychelles and their regulation. Companies registered under the FSA license should have a minimum investment capital of $50,000, which is nothing compared to EU, UK, and US demands of at least $750,000. In addition, the FSA doesn’t obligate firms to have any compensation funds or negative balance protection.

The real issue is that Deryforce LTD has never entered the FSA register. Therefore, even these minimal demands don’t apply to EarningCrypt broker. It’s a typical unlicensed scheme to avoid.

Reasons Not to Trust an Unlicensed Broker

As mentioned, unregulated brokers don’t need to have any minimum capital. Basically, they can run out of money and go bankrupt, and there’s nothing you can do about it. Furthermore, your funds are at risk since the firm can shut down the domain, and you don’t have actual proof of address or the details of where your funds are transferred.

In That Case, Is EarningCrypt a Legitimate Broker Or A Scam?

EarningCrypt is not a legitimate brokerage. The firm is based in Seychelles and operates without any valid license. The consumer index is low, indicating that you should avoid this website.

What Do Traders Think Of EarningCrypt?

Instead of us doing the talk, we will show you an example of traders’ opinions and how most EarningCrypt reviews look.

“I wouldn’t trust this service. I got drawn into throwing quite a lot of $ into their platform, but the account manager who was meant to look after me and help me grow the account basically drained it and I lost everything. Every trade I was told to take was a loss and got pulled into trades that didn’t make sense with no care given for risk management. I was told that the account would be looked after while I was asleep and that I wouldn’t get liquidated. Was told to close trades at a loss saying that there will be funds coming from an event so not to worry. It was all lies after I got liquidated every time.”

– Truspilot Customer

Available Online Trading Platform & Tools

The firm only offers a basic WebTrader. Instead of providing reputable software, such as MT4 or MT5, with a vast number of trading tools, EarningCrypt limited its investors to a TradingView chart with several indicators. If you were hoping for in-depth analysis, social trading, or automated trading, you won’t find it here. In addition, when writing this review, access to the platform was not enabled. We saw a message stating, “We cannot register you at this time.” Thus, we were unable to confirm how this WebTrader actually looks.

If you decide to start trading, we recommend you find a legitimate broker offering MetaTrader. With it, you’re ensuring yourself amazing trading software, as well as higher fund security.

EarningCrypt Accounts Overview

While it’s highly recommended to avoid EarningCrypt, if you want to take a peek at their account type offer, here it is. You can choose from one of the 3 accounts, including:

• Silver – $50,000
• Gold – $100,000
• VIP – $250,000

Unlike regulated brokers who will present you with a list of pros for each account type, including leverage levels, swaps, and spreads, EarningCrypt gives us nothing. Another reason to avoid it.

EarningCrypt Broker – Countries Of Service

Based on our review, the broker is mainly present in:

• Australia
• UK
• Bulgaria
• Sweden

However, being unlicensed, it feels free enough to operate just anywhere. So beware and don’t accept any offers coming from EarningCrypt.

Also, remember the names of the trading frauds AllCryptoMarkets, WiniCoin, and The Investment Center trading scams and avoid them at all costs! Furthermore, before investing, always check the background of internet trading organizations!

The Importance of Legal Documents

As with any company, you must accept the Terms and Conditions before making a purchase or creating an account. But, most of us never read them, and that’s the first mistake. Legal documents should show us whether the broker is legitimate or not and what kind of legal issues we can expect. For instance, most brokers hide clauses about bonuses here or write about the actual governing law. Before making a deposit, read everything, even the fine print. That’s your only way to know your funds are safe.

EarningCrypt Range of Trading Markets

The broker offers trading in all major markets, including:

• Forex – EUR/USD, GBP/USD, AUD/CAD
• Commodities – gold, silver, corn
• Indices – Dow Jones, FTSE100, DAX30
• Shares – Amazon, Google, Facebook
• Cryptocurrencies – BTC, ETH, XRP

The solid offer of trading instruments doesn’t change the broker is unlicensed and doesn’t allow traders access to the platform.

What Trading Terms Trader EarningCrypt?

EarningCrypt offers unknown trading conditions. Spread and leverage are not disclosed, not in the Account Types section or anywhere in the legal documents. It basically means that, since there’s no Demo account, you will have to invest your funds first and then realize the trading costs and risks.

Minimum Investment Amount

We were unable to find any specified amount. The Silver account starts from $50,000, but we can only hope that this is not the actual minimum deposit. If it is, it closes the story about investing with EarningCrypt.

EarningCrypt Deposit, Withdrawal Methods, and Fees

According to the Terms and Conditions, the company accepts the following payment methods:

• Debit/credit cards
• Wire transfer
• Cryptocurrencies

Minimum deposit, withdrawal amount, or any fees are not specified. Note that using crypto as a payment method is quite risky since these transactions are virtually impossible to trace and are not subject to a chargeback procedure.

Scammed by EarningCrypt Broker? – Let Us Hear Your Story

If you were involved with an EarningCrypt broker, you most likely could not get your funds back. Contact our chargeback specialists to help recover your funds in such cases.

But What Is A Chargeback?

It’s a method of fund recovery. Your bank can get the money back directly from the merchant if you can prove that you were a fraud victim. Let’s get in touch via online chat; we will book a free consultation to evaluate your case and help you.

What Is EarningCrypt?

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

Is EarningCrypt a Scam Broker?

EarningCrypt is allegedly based in Seychelles, but the company has never entered any commercial register.

Is EarningCrypt Available in the United States or the UK?

The broker is available in both the US and the UK.

Does EarningCrypt Offer a Demo Account?

No, EarningCrypt doesn’t offer a Demo account, and there’s quite an issue with accessing the platform.

Hiding in plain sight and sporting a valid UK registration number, this company is a dangerous predatory entity that operates without authorization. Everything you see on their website is just smoke and mirrors, intended to keep victims spending more money.

Don’t let your money go to waste – read our FX808 review to learn more about recovery options!

Registered & Unlicensed

At first glance, the FX808 broker may seem like a legitimate entity. After all, their registration information is entirely correct. An entity called FX808 Limited was indeed found at the UK Companies House and was incorporated in April 2024.

Veteran Forex investors, however, are aware that registration doesn’t equal regulation, which is exactly what this business lacks. To be eligible to sell online financial services, a firm needs approval from the country’s main regulatory body, the FCA. This company is not only unregulated, but also blacklisted by this authority for conducting Forex trading activities without legal supervision.

Affected Nations

Since the scheme doesn’t have a particular preference when it comes to the customers’ location, area and nation, it’s no surprise to see them targeting traders all over the globe, especially in:

• Austria
• Germany
• United Kingdom

The website itself went live in April 2024, around the same time the company was registered. Although this may seem like a relatively new project, be sure that the people running it are well experienced in all kinds of fraudulent schemes. That’s why we always advise our readers to immediately contact us if they face withdrawal issues.

Fabricated Reviews

It’s simply impossible for a company that is recently registered, as well as blacklisted, to receive positive feedback. That’s why no FX808 reviews on Trustpilot should be trusted. 

Oftentimes swindlers, desperate to give off an impression of legitimacy, resort to posting fake reviews. This is yet another deceptive strategy used in order to fool traders into thinking that the platform is safe for investing. Misleading information is one of the most efficient weapons in scam circles today, so always double-check the facts and take everything with a grain of salt.

Cunning Ploy

With the crypto craze and huge expectations related to AI technology today, these schemers have decided to use both of these concepts to manipulate traders. 

The website will attempt to make you believe that “real quantum trading” and other super sophisticated analytical tools can easily make you rich. Needless to say, these are just baits and blatant lies thrown in front of inexperienced traders who are looking to make a buck without much effort. 

Overly risky investment deals that promise too much are never destined to succeed. Their entire purpose is to force you into unplanned spending and then block your withdrawal attempts.

Account Types and Creation

The FX808 trading scheme offers several account types, which are quite similar to those offered by fraudsters like Ecofix.

These are so-called tiered accounts, where higher accumulated deposits allegedly unlock various perks. These range from increased leverage to reduced use of swaps. The attached price tags don’t justify the costs though:

• Standard – 2,500€
• Premium – 5,000€
• Pro – 10,000€
• Elite – 50,000€

After creating a FX808 login account, clients are immediately prompted to upload KYC documentation. While this can be circumvented, these prompts become increasingly obnoxious as time passes.

Laughably Bad Software

What you get with the trading app is a barebones WebTrader, bereaved of any functions other than asset selection and buy/sell orders. Pricing charts are streamed directly from the swindlers’ own server, which questions their validity.

The advertised “Quantum Trading” based on “Advanced AI solutions” is just a bunch of buzzwords put together to sound impressive. It’s nothing but empty promises from a notorious liar.

Grand Total of 6 Instruments

Forget about building an advanced trading strategy with risk mitigation. Here, instead of the 190+ advertised assets, you get 6 trading instruments, 4 of which don’t load in the app. There’s an extended list, but you can’t actually access any products from it.

Without further ado, here’s the complete offering:

• Trading instruments – CN50/USD, XAU/USD, KER.PA, TGSGY, EUR/USD

Hidden Trading Costs

You’ll quickly notice when dealing with a faux broker that they don’t talk about costs too much. This lack of transparency, present with this con and other hoaxes like Belfrics is by design.

Still, some trading parameters are available. For instance, leverage ranges from 1:30 to 1:300 depending on the account type. This is a blatant violation of UK regulations, which caps leverage at 1:30.

Spreads also depend on the type of account and range from 1.0 pips to 0 pips floating. The stop-out is set at 20%. Fees, commissions, swaps, and taxes are never mentioned, and the site does not contain a Terms document.

Dubious Payment Pathways

Whether you want to deposit cash or withdraw any amount from this portal, you will be forced to do so via some shady third party processors. 

Expectedly, cyber criminals always tend to team up with other suspicious service providers to share profit and ensure their scam strategy works. Therefore, we strongly advise against sharing your personal details and any payment information with the owners of this fraudulent terminal. 

In addition, the FX808 withdrawal policy is non-existent, so there’s no way to learn anything about how much time is needed for payouts to be processed or what fees apply.

Shady Support Options

The main support channel available for customers is a Telegram chat service. Con artists have purposely picked this app because of its robust encryption, which allows them to hide their whereabouts.

Other methods include a phone number and email, but the firm has a reputation that nobody actually answers these.

Got Scammed? Talk To a Professional!

Last question we have to respond to as we’re nearing the end of this review is: “is FX808 legit?” There’s no answer more straightforward than this: no, the broker is unregulated and unreliable for any kind of investment.

Online con schemes have become a constant threat for any rookie investor. If you believe you, or someone you know, has invested with any such shady platform, feel free to contact our team. We are available around the clock for your convenience.

FAQ Section

Who Owns FX808?

The platform is owned by an entity registered in the UK under the name of FX808 Limited. This firm is not regulated by the FCA, however, meaning their conduct is illicit.

How To Recover Stolen Funds?

Recovery of stolen money is difficult, but possible. To learn more about chargeback, book a free consultation with our expert team.

The website that hosts this fraudulent broker lacks the pizzazz you’ll find with most contemporary European companies. There are a few reasons for this, one of which is the fact that the hoax doesn’t rely on a website to attract victims.

How did it manage to entrap and defraud so many investors, then? Find out in our Elite AI review.

Falsified Company Credentials

The easiest way to assess an Elite AI broker’s legal status is to check their company credentials. Luckily, these frauds didn’t try to send us on a wild goose chase like YLCHAT for instance. They proudly present their information on their website in a manner that may seem legit, but upon inspection proves to be completely fake. The group claims to own several company branches, all in different jurisdictions.

Elite AI Markets (Pty) Ltd is supposed to be from South Africa, with an FSCA license number. The FSCA database does not contain any entities with this name. Elite AI International Group Limited should be from the Cayman Islands, but again, no entry in the CIMA database. Elite AI Global Limited is allegedly based in Vanuatu, but is not registered with VFSC.

Numerous Regulator Warnings

As of recently, the company, if you can call it that, has come under scrutiny from several authorities. The regulatory bodies that have noticed the predatory behavior of this fraudulent group include AMF, AFM and IOSCO.

With the group placed on a regulatory blacklist, there can be no doubt that we’re dealing with an online hoax. If you have invested any money with this con-circle, contact our experts for help with recovery.

Who Does the Hoax Target?

This one-page scam website is mostly oriented towards the French and Spanish speaking regions:

• Spain
• France
• Belgium
• United Kingdom
• Netherlands

The conners claim to have been in service since 2009, but the WhoIs information tells us eliteai-t.com website was created in 2023. Even though it is almost two full years old, there still aren’t any Elite AI reviews on the web.

How Fraudsters Reach Their Victims

The Elite AI trading fraud piggybacks on the relative popularity of Elite AI Tools, a niche site that hosts a variety of AI-enabled programs for various applications.

The story is that the platform hosts an AI that can predict the market shift. Since AI is the buzzword of the decade, numerous other cons like TradeCenterFX spin the same lie. The victims are recruited into the con by boiler room agents who contact the marks by phone. In this case, the agents solicit an investment scheme that allegedly makes huge profits overnight – courtesy of hyper-advanced AI.

None of it is real, though, and the money is simply stolen. If you need help recovering your lost investment, contact our legal team.

Accounts That Make Millionaires Blush

There are several Elite AI login account tiers depending on the accumulated deposit. This is a staple of online schemers, who constantly return for more cash to “unlock benefits.”

The prices are a complete ripoff no matter how you cut it:

• Bronze – 10,000€
• Silver – 25,000€
• Gold – 50,000€
• Plarinum – 100,000€
• VIP – 200,000€
• TOP – 1,000,000€
• Business – 5,000,000€

Ridiculous Trading Software

The main trading app used with this would-be broker is WebTrader. As far as WebTrader solutions go, this one is far below any benchmark, and as suspected, there’s no AI in sight.

The program serves as an account creation portal, client dashboard, and a trading platform. As for the features, it supports buy/sell orders and an asset selector, coupled with a basic charting tool.

Dishonest About Instruments

Fraudsters know that, in order to seem competitive, they have to offer a large number of trading assets. This self-proclaimed broker advertises more than 1,000 CFD-type instruments alone.

The trading app, however, contains less than 300 assets total:

• Forex – EUR/USD, AUD/NZD, GBP/CHF
• Cryptocurrencies – BTC, ETH, XRP, DOGE
• Stocks – AT&T, IBM, AMD
• Commodities – Natural Gas, Sugar, Gold
• Indices – S&P 500, Nasdaq, Nikkei

No Cost Disclosure

The only bit of information you’ll ever get about the trading parameters is the leverage. This is way above the legal limit in most jurisdictions, skyrocketing to 1:500. Regulators in the EU, for instance, have imposed a leverage limit of 1:30 in order to protect client funds.

That’s about all the data that is revealed. There’s no talk about Elite AI fees, commissions, swaps, spreads, or basically any other cost. The hidden billing structure is also there to allow the cheaters to invent costs for an up-front fee scheme.

Murky Payout Conditions

The broker, if you can call it that, does not include a Terms and Conditions document on their website. Thus, the Elite AI withdrawal conditions are never really defined. The site advertised support for bank cards, bank wires, and payment apps. However, the client dashboard only accepts direct crypto payments.

There is no automatic payment processing either for deposits or withdrawals. This makes the client rely on their boiler room agent for all money flow, and we all know that withdrawal is not in the cheaters’ interest.

Nobody Answers Support Tickets

Customer support should be accessible through a live chat in the client area, or a contact form. None of it works, though, as nobody answers any support requests.

This means that the con artists are the only ones who can make first contact. If they deem it unnecessary, you can’t get back at them no matter how hard you try.

Got Robbed By Scammers? We Can Help!

This faux brokerage company offers nothing but ruin for any investor. Anything you see on their website is just a ruse intended to keep you spending money for as long as possible.

The Elite AI scam has been around for a few years now, and in that time, it has robbed thousands of people. If you are one of them, consider booking a free consultation with our recovery experts. You may reach us anytime by using our site’s live chat feature.

FAQ Section

Is Elite AI Legit?

No, the company registration and licenses are all falsified. This is an illegal entity, which exists as a front for fraudulent operations.

Can I Recover The Stolen Money?

Fund recovery is possible through several means. Book a free consultation with our experts today to start a chargeback of your funds.

At first glance, everything looks fine. Until you get a detailed look. One of the eye-catching things is that the company doesn’t reveal any ownership details, neither do they offer legal documents.

Yet, they claim to be a trusted UK firm with more than 700.000 satisfied clients all over the world. Butt, there are only 5 comments on Trustpilot. We know you are shocked, but keep reading this Axinvest review to find out more.

Legal Info: Is Axinvest Legit Or A Scam?

Axinvest company makes our life easier by claiming to be in the UK. Therefore, on the first step, we can make their legitimacy questionable. All UK investment firms need to have an FCA license. Yet, Axinvest is not in the FCA registers. 

But not only that. They are not even present in any other Tier 1 trusted regulatory database, like CFTC, ASIC or BaFin. Therefore, run Forest, run!

Who Are Axinvest’s Clients?

As can be seen, Axinvest clients are coming from highly regulated countries. Even though they claim to operate since 2018, their domain is active only since 2021 according to WHOIS. Nevertheless, their victims mostly come from: 

• United States
• Nigeria
• Canada
• France
• United Kingdom

Let us know where are you coming from and what’s your experience with this broker. Ultimately, if you have any issues, our specialized team can advise you, primarily about the refund. In case you didn’t learn already all the dirty tricks, check our Beurax review.

Traders Reviews

Here comes the biggest joke about the Axinvest scam. Generally, for a company that claims to have 700K clients, they have a very small amount of comments. On Trustpilot, there are only 5, with a 5-star rating.

In fact, these most likely fake ones, like everything else about this shady company. Don’t waste your time and request a withdrawal as soon as possible. In case you find any troubles, contact us for assistance.

Investment Costs With Axinvest

Practically, with Axinvest.io you don’t have any hidden costs. You simply put in at least 500 GBP and they invest for you. They claim to provide up to 8% daily returns. 

Sounds like promising profits which is illegal. Your job is to wait for a fixed amount of days and collect the profits. Isn’t that shady at best?

Bonuses

On top of all, the company offers investment bonuses up to 20%. Why would anyone give you any bonus unless it is a tactic? Have in mind that also, bonuses are widely banned in Europe due to malicious policies that come together with the benefits.

Axinvest Trading Features

Axinvest scam principle is very simple. They claim to offer a variety of trading opportunities and you invest without any worries. But if they are so good, why would they need your money? Doesn’t make sense right? Also, the company doesn’t reveal any details about its trading plan, software or strategy.

Is Axinvest Legit?

Not at all. The company operates from the UK without a valid trading license. Therefore, everything they say is questionable.

Available Trading Assets

In general, the company claims to offer a wide range of tradeable instruments. However, detailed access to those is not allowed. Therefore, we can only present you with instrument classes: 

• Currencies
• ETFs
• Stocks
• Indices
• Cryptos
• Futures

Account Types

With Axinvest investment company, you can choose between 5 investment plans. Of course, the higher deposit the lower amount of days the program is running. Classic psychology to get investors to deposit more money.

Of course, you get a higher referral bonus, higher daily returns and an investment bonus. Your options are:

• Beginner – 500 GBP
• Flex – 10.000 GBP
• Standard – 30.000 GBP
• Premium – 100.000 GBP
• Core Portfolio – 200.000 GBP

Mobile Trading App

Sadly, the company doesn’t reveal any technology behind its investments. Therefore, it remains unknown where you can track your portfolio. Quite a suspicious thing and for that reason, you should avoid unlicensed companies. One more offering of unregulated services you can find in our BullishFXMarkets Review.

Demo Account

Another key fact is that the company doesn’t offer insight into the trading features. Neither do they offer a self-managed option. So, we recommend you stick with Tier 1 licensed companies.

Education

Since the company invests on your behalf, there’s no need for any education. Thus, it would be good to provide at least basic information to investors. Yet, they don’t.

Axinvest Withdrawal

Allegedly, the company provides withdrawals without any fees. However, there’s no transparent withdrawal policy to provide any more details. Such as processing times, withdrawal methods or anything else.

Therefore, you can realize there’s plenty of room for manipulation. Some of the most used tricks are AML laws, verification issues and non-existent fees or taxes.

Customer Support

Another shady thing is Axinvest customer support. They don’t reveal any working hours or any reliable contact option. Instead, you can send them e-mail or submit a ticket. Consequently, you can only hope for their response.

Key Information To Consider About Axinvest?

The first and most important thing is that the company is not regulated. Yet, they claim to be UK-based. Also, they are promising profits with unclear investment plans. On top of that, their customer support seems quite poor.

Therefore, everything looks like a costly scheme. In case you were already caught in their claws, there’s a way out. Just book a consultation with our team and find out all the details. The first consultation is on us! Get in touch now.

FAQ Section

What is Axinvest?

Axinvest is a shady so-called UK investment firm that offers fixed returns on its investment plans.

Is Axinvest A Legit Broker?

Axinvest is not a legitimate broker primarily because they are operating from the UK without regulations.

What Are Axinvest's Principles?

Obviously, to take as much as they can from you. Try to get anything out and see what happens. But if you find any issues contact our refund team ASAP.

How Do I Change the My Account Setting?

ProfitLevel is a company owned by BCM Begin Capital Markets CY Ltd, based in Cyprus. Besides this brand, the company has another two brands – CapitalPanda and Begin Capital Markets. Since the other two brands are a scam, we do not see a reason to trust Profit Level as well. For more details on BCM Begin Capital Markets, you can read our CapitalPanda review.

Let’s check what’s the catch with Profit Level.

ProfitLevel Regulation and Security

BCM Begin Capital Markets CY Ltd is a company based in Cyprus and regulated by CySEC. According to our review, the company was established in 2015 under the name OX Capital Markets Limited. Whenever the company changes its name, it’s obvious why. Something was wrong with the OX Capital Markets broker. As mentioned previously, the company owns two other scam brands.

When it comes to the funds’ security, there is an extensive list of EU banks where the funds are allegedly held. We can only hope.

Scammed by ProfitLevel?

If you were misled or scammed by a ProfitLevel broker, you need to know you are not the only one. This scam broker is operating for a long time and has many victims. A good thing, there is a possibility to get the money back. All you need to do is file a dispute and request a chargeback. Do not let the scam broker go away for free! Contact our support now, and let’s get your money back!

Is ProfitLevel a Scam?

ProfitLevel is a CySEC regulated broker owned by BCM Begin Capital Markets CY Ltd. The company has changed the name before and has a terrible reputation.

Is ProfitLevel regulated?

ProfitLevel is a CySEC regulated broker. However, the company owner has a very bad reputation among traders.

Are Funds Safe with ProfitLevel?

ProfitLevel is a broker regulated by CySEC. However, the owner of the brand BCM Begin Capital Markets CY Ltd has a very bad reputation among traders, and we can conclude that your funds are not safe with this broker.

FXFair is an offshore trading platform run by the Fair Group, based in Saint Vincent and the Grenadines (SVG). This is just one of the reasons why we wouldn’t recommend this broker.

What’s important to stress right off the bat is that SVG is a jurisdiction where Forex trading isn’t regulated. As you keep reading our FXFair Review, you will learn the truth about this platform and why it cannot be trusted.

Legal Info: Is FXFair Legit or a Scam

The Fair Group is based in SVG, as mentioned. This is a huge issue because Forex trading is not regulated in that offshore jurisdiction. The local Financial Services Authority regulated only the banking sector.

It leaves a lot of room for scammers to open their shady businesses there and run their schemes. For that reason, we strongly advise you to avoid SVG-based brokers. Unlicensed providers like FXFair and Exobit cannot be trusted. Instead, you should find a reliable and regulated broker that operates under the watchful eyes of a credible financial market watchdog.

Top-tier regulators such as the FCA (UK), CFTC (US), ASIC (Australia), CySEC (Cyprus), CNMV (Spain), etc. require brokerage companies to possess a substantial minimum operating capital (i.g. 730,000 EUR or 1,000,000 AUD), offer clients negative balance protection, a segregated account, and even a compensation scheme (i.g. up to 20,000 EUR).

Who Are FXFair’s Targets?

According to godaddy.com/whois, fxfair com was created on December 2, 2011. Since then, the unregulated broker has mainly been offering illicit Forex trading services to traders residing in the following countries:

• United States;
• United Kingdom;
• Japan;
• China;
• Vietnam.

The US, UK, Japan, and China are major financial hubs. All of these jurisdictions boast Titer 1 financial market rules, laws, and regulations so there is no room for financial swindlers such as FXFair.

On the other hand, Vietnam is not a Tier 1 jurisdiction. FXFair claims to have an office in Vietnam but the company still has no authorization to provide services in that country, per the sbv.gov.vn.

Losing money to such scammers can be cruel. So, we are willing to help you recover your hard-earned funds.

Trader Reviews

FXFair has not received positive feedback, which is not a pleasant fact. For a company that has been active for over a decade, it’s embarrassing. We did find some complaints against the broker though.

On capterra.com, a LinkedIn-verified trader wrote a lengthy negative review in which he stressed the fact that he couldn’t withdraw his money. Also, customer service was pretty rude during the whole situation.

SCAM – DO NOT PLACE AN ORDER WITH THEM THEY WILL JUST STEAL YOUR MONEY!! I HAVE PLACED AN ORDER FOR A CARD AND DEPOSITED $1500 (£1200) AND THE ORDER WAS NOT SUCCESSFUL, RECEIVED A MESSAGE SAYING I SHOULD CONTACT THEIR CUSTOMER SUCCESS…

– Capterra user, April 11, 2021.

Leverage, Commissions, Spreads, Fees and Taxes

It is important to understand that high leverage is a double-edged sword. It increases both potential profits but also potential losses, making it a rather risky tool. The maximum leverage cap that FXFair offers is 1:1111, which is typical of offshore brokers.

While leverage can multiple profits, it can also lead to significant losses if the market moves against the trader’s expectations. Hence, reputable regulators imposed a safe leverage limit (1:30 in Europe & Australia, 1:50 in North America) to prevent such losses.

As for the spreads, FX Fair provides multiple account types with various spread ratios. For instance, the Standard account offers a spread starting from 1.5 pips. The Zero account is designed for scalping strategies, offering ultra-tight spreads starting from 0.1 pips. The Pro account charges no trading fees and offers spreads from 0.0 pips.

It’s all great and competitive, if true that is, but it still cannot make up for the fact that FXFair is unregulated. We do not recommend unregulated brokers such as FXFair and Fantex.

Trading Platforms Available

FXFair offers two of the best platforms in the game – MetaTrader 4 and MetaTrader 5. However, these platforms are provided by a broker called AssassinFX. FXFair had this to say about AssassinFX:

Our company and ASN have a relationship of white label provider and provider on the trading platform provider MetaQuotes, however because of the true nature of this relationship, we are merely an intermediary for MetaQuotes’ system, and have no capital relationship, exchange operation, or any other relationship with ASN.

We are currently considering legal measures to deal with ASN’s problems, which have significantly damaged our company’s reputation and business.

What a mess. You got two unreliable and incompetent providers trading back and forth and they expect you to trust them with your money.

Although both MT platforms are cutting-edge trading tools with advanced features such as automated trading and multiple timeframes, they will hardly be of good use if your provider is trying to dupe you. Our suggestion is that you ditch FXFair and find a provider that offers a legit and licensed version of either MT4 or MT5.

Having FXFair withdrawal issues? We can help you recover your hard-earned funds.

Mobile Trading App

The FXFair mobile app allows traders access to all features of the regular desktop platforms. Users can trade Forex and CFDs on the go in real time. Mobile trading also offers much-needed flexibility in quickly adapting to market movements.

The mobile app can be downloaded for both Android and iOS systems. However, we must repeat once against that the unregulated platform could be an issue.

Available Trading Assets

Here’s a quick overview of the trading assets that FXFair promises:

• Forex currency pairs – EUR/USD, AUD/CAD…
• Indices – S&P 500, DOW 30, NIKKEI 225…
• Commodities – gold, wheat, crude oil, natural gas…
• Stocks – Apple, Google, Tesla…
• Crypto – BTC, ETH, LTC…
• Defi Token – UNI, COMP…
• NFTs.

Account Types

FXFair offers traders seven different live account types:

• Standard account:
  • Minimum deposit of 51 USD;
  • 52 currency pairs & metals;
  • Leverage up to 1:1111;
  • Floating spreads from 1.5 pips.

• Zero spread account
  • Minimum deposit of 51 USD;
  • Leverage up to 1:500;
  • Floating spreads from 0.1 pips.

• Prime account (STP/ECN)
  • Minimum deposit of 51 USD;
  • Leverage up to 1:100;
  • Floating spreads from 0.0 pips.

None of the account types require a deposit fee. It seems that the essential difference is the leverage and the spreads. But it’s odd that each type requires the same minimum deposit amount of 51 USD. It would be logical if the Prime (ECN) account cost more than the Standard account since it offers much tighter spreads.

Demo Account

FXFair also included a risk-free demos account. Judging by a review we read, this demo account is for real and allows traders to try out the platform.

Although a demo account always gets a thumbs up, it still doesn’t make FXFair “clean”. Keep in mind that issues usually start appearing when you request a withdrawal, meaning you have to first invest real money and make profits. That’s the real trap of this offshore scheme.

FXFair  Withdrawal Process

When it comes to deposit and withdrawal methods, there are various options to choose from:

• Credit/debit cards;
• Wire transfers;
• BitGo;
• PerfectMoney;
• Bitcoin.

The minimum deposit amount for all methods is 51 USD. The minimum withdrawal amount for all methods is also 51 USD and the maximum withdrawal limit is 100,000 USD. Similar to deposits, the broker doesn’t charge any withdrawal fees for amounts below 2,000 USD. Withdrawal processing time is between one and five business days.

It’s important to note that funds deposited via MasterCard and Visa cards can be refunded. This process is known as a chargeback and can be requested at the issuing bank within 540 days.

Customer Support

FXFair provides customer support through an inquiry form that allows clients to submit their questions and inquiries. To contact customer support, clients can reach out to the company via phone or email. The support team is available on weekdays as well.

When using the inquiry form, customers are required to fill in relevant details such as their MT4 account number, country, name, email address, phone number, and other details. The complaint we found say that the customer support is pretty rude.

Key Information To Consider About FXFair

To sum up, FXFair is an unregulated offshore trading platform. Active since 2011, the SVG-based Forex broker has mainly been offering unlicensed trading services to users from the US, UK, Japan, China, and Vietnam.

We don’t recommend you trade on this platform simply because it’s unregulated. If you lost money to the FXFair Scam, book a free consultation with our team and we will explain how the chargeback works and guide you through the process. It’s not that hard but you have to act quickly.

If you were scammed by FXFair, let us know.

FAQ Section

Is FXFair Regulated?

FXFair is not a regulated broker. Forex trading isn’t regulated in Saint Vincent and the Grenadines.

Where Is The Headquarters Of FXFair?

FXFair, part of the Fair Group, claims to have offices in SVG and Vietnam. Neither office is regulated so if you experience issues, call us immediately.

What Types Of Accounts Are There To Choose From FXFair?

FXFair offers three live account types – Standard, Zero Spread, and Prime.

If you have come across positive JM Trade reviews on the internet, you should know that they are fabricated. Thus, we have prepared this JM Trade review to help you avoid being defrauded by this financial swindler.

Here is a quick overview of this phony broker. JM Trade is based in Saint Vincent and the Grenadines, which is regarded offshore-based scam brokers’ hideout since this jurisdiction doesn’t regulate forex providers. According to the JM Trade website, it is also allegedly registered in Kuwait but no evidence of it.

Anyway, JM Trade runs a scamming scheme that involves several fraudsters. Namely, alongside JM Trade (aka JM Financial) is Legacyfx (known as An All New Investments). This group of bogus brokerage firms defrauds traders worldwide and is exposed by several financial authorities. Other than that, the JM Trade broker delivers lousy services rested on prevarications.

Additionally, we strongly advise you to avoid the fraudulent brokers Auto FX Trade, IntraO, and VTindex.

Why is JM Trade a Fraudulent Broker?

Let’s begin with the most important matter of every broker — licenses and regulations. With reference to this, JM Trade is an unlicensed brokerage firm. So, no financial market regulator monitors this company, which indicates that JM Trade trading conditions are provided and changed at the whim of this shady company.

Nonetheless, fraudulent trading activities by this fake broker haven’t passed unnoticed. Hence, three watchdogs, Canadian FCAA, Singaporean MAS, and Ukrainian NSSMC have already issued a warning against JM Trade.

JM Trade is a trading name of JM Financial registered in SVG and allegedly in Kuwait. Regardless of its HQs, this shady broker is not licensed nor regulated. Instead of being authorized by financial regulators, JM Trade has been blacklisted by three supervisory authorities. In addition, it offers poor services based on lies and deception.

Why Is Trading On a Licensed Broker’s Platform Preferable?

Operating unauthorized is illegal, but it also means that there is no safety mechanism for your funds. Thus, it goes without saying that only investing with authorized brokers makes sense. That being said, there are many benefits to doing so.

For example, brokerage services certified by leading supervision authorities like German BaFin, British FCA, and Australian ASIC are particularly trustworthy. Trading with these brokers is safe since you are protected by compensation schemes that are up to 100,000 EUR per trader. 

On top of that, these online financial trading companies offer negative balance protection (traders can’t lose more than deposited) and keep your funds in segregated accounts in major banking institutions. The latter refers to holding brokers’ capital separate from traders’ money so that brokers’ bankruptcy doesn’t influence traders. 

Warnings From Financial Regulators

When it comes to official warnings against JM Trade and its affiliates, there are three alerts at the moment. Take a look below.

1. The Financial and Consumer Affairs Authority of Saskatchewan (FCAA) warns against JM Financial, LegacyFX, and An All New Investments. These illicit brokers use jmtrade.com and int.legacyfx.com.

2. The Monetary Authority of Singapore (MAS) has put LegacyFX on a list of scam brokers and its legacyfx.com.

3. The National Securities and Stock Market Commission (NSSMC) has blacklisted LegacyFX and its domains int.legacyfx.com/ru/ and legacyfx.by.

What Trade Software Does JM Trade Provide?

With reference to trade software, its quality affects trading outcomes. Leading brokerage companies provide state-of-the-art trading programs such as MetaTrader 4, MetaTrader 5, cTrader, and Sirix. Allegedly, JM Trade provides MetaTrader 4 (MT4). However, as expected, it is a big fat lie since this scam offers a subpar web trader and an unsatisfactory mobile trading app. 

Mobile App

Speaking of mobile trading, it is enabled thanks to the versatility of leading-edge platforms. For example, MT4 is accessible from any device (desktop, smartphone, tablet, browser-based platform). Also, many leading companies have proprietary trading apps available on Google Play and Apple Store. In relation to mobile trading at JM Trade, this broker doesn’t have MT4 (or any other modern program), and its JM Trade mobile app is ineffective.

WebTrader

As introduced, the JM Trade web trader can’t hold a candle to advanced programs like those aforementioned. At JM Trade, you can’t have any useful features such as stop loss, fast execution, copy trading, and EAs. These tools enable safe and profitable trading. For instance, copy or social trading allows you to monitor and copy the most successful traders. Thus, for the most out of trading, choose legitimate brokers.

Promotions – Terms of Bonuses

Promotions are especially suspicious when coming from unlicensed brokerage firms. So, JM Trade offers a welcome bonus that allocates 30% of your first deposit to your account, which is from 1,500 to 10,000 USD, contingent on the account type. However, as predicted, this broker has some outrageous terms of rewards. For example, you are eligible for a bonus only when you achieve a trading size that is 10,000 times higher than the bonus. In addition, JM Trade keeps the right to revoke bonuses at any time, doing as it pleases.

Likewise, this fake broker offers 100% insurance, covering your first deposit with 500 to 5,000 USD against loss. But, this promotion can be suspended without notice. Lastly, there is also a referral bonus of 20% of the first deposit of each person you bring to invest with JM Trade.

JM Trade Range of Trading Markets

Regarding what trading instruments are available at JM Trade, here is the outline of the markets.

• Forex: USD/EUR, AUD/CAD, GBP/CHF;
• Crypto: Bitcoin, Ethereum, Tether;
• Commodities: gold, corn, crude oil:
• Equity: Apple, Tesla, Microsoft;
• Indices: NASDAQ100, DAX30, FTSE100. 

For access to this and other markets at favorable terms, we recommend opting for genuine brokerage companies.

What Do We Know About JM Trade Account Types?

Concerning types of accounts, JM Trade offers several live trading accounts. It doesn’t provide a demo account since it is free and can expose its fake and inappropriate services. As for paid accounts, have a look at the offering.

• Start: minimum deposit of 250 USD, bonus 30%;
• Gold: minimum deposit of 5,000 USD, bonus 30%;
• VIP: minimum deposit of 50,000 USD, bonus 10%.

Each of these accounts comes with MT4, educational resources, and many tradable assets. Of course, nothing of that is true. This is just one of the fabrications by this con artist.

JM Trade Minimum Deposit, Withdrawal Terms, and Fees

As regards the minimum required deposit at JM Trade, it is 250 USD. That is an absolutely needless risk because you can open a real trading account for as low as 10 USD with a leading FX broker.

Reportedly, deposits are instant, and withdrawals are fast and convenient here. For depositing, there are no issues since this financial swindler can’t wait to get its fingers on your money. However, withdrawals are not possible with broker scams. As for the involved fees, deposits are free, whereas withdrawal costs depend on the selected payment gateway.

Methods of Making a Deposit

In regard to accepted funding methods by JM Trade, it promises traders that they can use bank transfers and credit/debit cards both for depositing and withdrawing. Anyway, this is another dirty trick. These two forms of payment are secure, meaning they can be annulled, which is something that a fraudster doesn’t want. Instead, it supports another means of payment that is more suitable to its dishonest needs — crypto wallets — which are difficult to trace and cancel. 

What Is Known About JM Trade’s Trading Conditions?

With respect to terms of exchange at JM Trade, you can expect only misinformation and a pack of lies. Let’s recapitulate what has been said so far. This dishonest scam broker requires a hefty deposit, provides bonuses with strings attached, and gives an empty promise of the provision of modern platforms. Likewise, its leverage ratio of 1:400 for retail traders goes against standards (it is capped at 1:30 in the UK and 1:50 in the USA).

About spreads, it is only now that they depend on each account, i.e., standard, reduced, and minimum. Anyhow, remember, online trading scams always falsify trading conditions to appear more advantageous.

Scammed by JM Trade Broker? – Let Us Hear Your Story

According to the web, JM Trade broker is focused on scamming traders from

• Croatia
• Serbia
• Bosnia and Herzegovina
• Germany
• US.

If you are one of the victims from these countries or any other place, you should act fast. First, notify the relevant authorities. Also, don’t forget to share your negative experience and warn others. The most important thing for you is that you can get your money back thanks to a chargeback option.

Also, avoid the trading frauds MorganFinance, Cryptos Circus, and Axiance at all costs! Moreover, before investing, always look into the past of internet trading firms!

But What Is A Chargeback?

If you wonder what a chargeback is, it enables defrauded people to retrieve funds. Some cashbacks require no special knowledge, such as credit cards and bank transfers. For example, VISA and Mastercard offer refunds within 540 days. Also, bank transactions can be canceled until you approve a transfer. 

The most difficult to reverse is crypto payments, which is why they are most frequently used by con artists. Nonetheless, our specialists can assist you with chargeback of crypto wallets. Get in touch today.

What Is JM Trade?

JM Trade is an offshore-based broker without regulations and trading credentials, involved in fraudulent trading activities.

Is JM Trade a Scam Broker?

Yes, it is; moreover, JM Trade has been exposed by three financial market regulators.

Is JM Trade Available in the United States or the UK?

Yes, it is; JM Trade operates in both countries despite it isn’t authorized to provide services anywhere.

Does JM Trade Offer a Demo Account?

No, it doesn’t; scam brokers usually don’t offer a demo account because they can’t cash in on it.

Trading 360 broker could be added to the list of the shadiest, most anonymous scammers we’ve seen. There is no basic information whatsoever, and you don’t even know which trading platform you’ll be given upon signing up. So, read our Trading360 review and find out everything we’ve managed to learn about this illicit firm.

What About Trading 360 Regulation?

Having regulation is a must for every broker who wants to keep its reputation high. It protects both sides from scams and ensures that you, as a client, will get the money back in case of issues. 

However, Trading 360 didn’t bother to disclose any information about the owner, while headquarters are allegedly in the UK. Companies need to have an FCA license to provide financial services from this country. After checking the register, we have determined that Trading 360 is not regulated by the FCA or any other Tier1 regulator, as a matter of fact.

Investing with this firm will only lead to you losing your money.

Trading 360 Trading Services – Available Assets

The Trading360 broker allegedly offers access to significant trading instruments, including:

• Currency pairs
• Commodities
• Indices
• Shares
• Cryptocurrencies
• ETFs

Why do we say allegedly? Because there’s no Demo account, we don’t even know which platform will be provided once you activate your account. Furthermore, we have no information about the leverage and spread, so be well aware that you’re putting your money with a schemer.

In addition to the above, we strongly advise you not to invest in FNPMarkets, ZMarket Global and AlphaTrade Plus fraudulent brokers.

Fund Withdrawal Issues With Trading 360 Broker

Since the broker is unregulated, withdrawal issues are expected. What’s not expected is that none of the clients will be able to get the money back, while no authorities will react since they’re not responsible for Trading360 and its activities. And that’s why, today, we have thousands of defrauded clients.

Mainly, they’re complaining about account managers who made all kinds of promises just to get the funds, but once clients were ripped off, the communication was cut.

Areas Of Trading360 Scam

According to reviews, the broker is mainly present in Canada, France, the UK, Poland, and the US. As you can tell, very diversified areas, without any limits. Wherever you are, you need to know that Trading 360 is not a legitimate brokerage, and any money you invest with them is at risk of being stolen.

How Does Online Trading Scam Work?

Online trading scams are a part of the financial market. Unfortunately, many new companies are opening offshore or under the radar, and regulators just cannot track them all down. That’s why it’s super important for you to check whether the broker opted for a license or it’s avoiding regulation obligations.

Once you see an ad promising you thousands of dollars overnight, it’s a scam. When you sign up, you may come to a website like the one owned by Trading360 that gives you absolutely no information about the platform, trading terms, governing law, minimum deposit, and more. If you just follow the instructions given by the company’s employees and invest some money, you will be redirected to an account manager who will then extort more. You will hear all kinds of excuses – great trading opportunities, margin level is too low, you may get a percentage for making your investment account savings at the same time, etc.

However, you will be declined when you request a payout and you’ll understand that you have been scammed all along.

Also remember the names of the AvaChoice, PlusCFD and MagKing trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

Scammed by Trading 360? – Tell Us Your Story

If you were scammed by Trading 360 or a similar fraudulent investment firm, file a complaint. Unscrupulous brokers are everywhere, but getting your money back from them is possible! You need to file a dispute and request a chargeback right away!

But What Is A Chargeback?

This is a way for your bank to reverse a fraudulent transaction and return the funds to your card. You have up to 540 days to make a request, so don’t waste time. Contact us now via online chat to book a free consultation, and let’s get you a refund!

What Is Trading 360?

Trading 360 is an anonymous CFD and Forex trading provider without a license.

Is Trading 360 A Scam Broker?

Trading 360 is entirely anonymous and has no financial regulations.

Is Trading 360 Regulated?

Trading 360 is not regulated and provides financial services without authority supervision.

This firm is prominent on social media and involved with numerous sports sponsorship deals. With over ten years of service, one would think such a business would become one of the industry leaders.

Unfortunately, there are several issues that severely hamper their growth. Read more in our BIT Markets review.

 Registration Info

The BIT markets exchange operates through several shady entities. First one is Bitmarkets, UAB from Lithuania, registered in 2022, with its main activities being computers and software, as well as cryptocurrencies. 

Now, there’s a reason why a ton of questionable crypto platforms are registered in Lithuania and Estonia to offer services to EU traders. Regulatory constraints in these countries are lax, which makes it far easier to operate a crypto exchange from these countries than more heavily regulated ones.

Margin and futures trading services, on the other hand, are supposed to be provided by another ridiculously named brand – Unicorn Technologies Ltd. This entity is claimed to be registered in the Marshall Islands, an offshore zone where regulatory standards don’t exist. Therefore, we’d advise anyone interested in trading crypto to go for a properly regulated firm.

Stable Crypto Service

The company has been in business for over a decade now, following trends and quickly adapting to the shifting market conditions. While the service is not exemplary, the company can stand shoulder to shoulder with some industry giants.

Word of mouth is the main means by which clients are attracted to the site. To facilitate this, BIT markets crypto exchange owns numerous social media profiles. They may be found on Facebook, Instagram, X and LinkedIn.

A recent sponsorship deal with Panathinaikos BC AKTOR has made the company something of a household name with sports enthusiasts.

Platform Usage Geographics

The bitmarkets.com domain has been around for quite a while. According to the WhoIs registry, it was first created in early 2010, making it one of the early adopters of the newly created blockchain technology.

Many of the company’s clients are traders from these areas:

• United States
• Australia
• Canada
• France

Note that some schemes like Deribit purposely acquire old domains to fool automatic scam detection. If you believe you’ve been defrauded by one such company, feel free to contact our legal team.

Surprisingly Small Number of Reviews

For an online platform that’s been around for ages, this one has a small number of customer testimonials. The majority of BIT markets reviews are on TrustPilot, where the exchange has an approval rating of 87%.

Now, don’t take these scores for granted. Various online hoaxes like Raze Markets use review seller networks to artificially boost their reputation. Seeing how this exchange has a lax license, make sure to consult other sources before investing.

Trading Platforms – Web Apps

If you’re interested in spot and futures trading, you can access the BIT markets app, which is adapted for web browsers. The rudimentary software is user-friendly and doesn’t require special knowledge or experience to navigate. The plus is the basic functionality based on TradingView charting along with standard customization features. 

However, don’t forget that these software solutions are easily manipulated and lack premium security measures, so the data shown isn’t always reliable.

Mobile App for Android Only

Although the company has been promising an iOS version of their platform for a while now, they only offer a solution for Android users. This software can be downloaded from the Google Play Store. With only about 5k downloads and no reviews enabled, it doesn’t exactly instill trust, especially compared to leading trading terminals.

Wealth Management and Unreal ROI

Whenever you see options for fund allocation and automated AI trading that promises huge returns, you know the offer sounds too good to be true. 

After acquiring a new BIT markets login, clients can opt for one of these VIP services. These are supposed to bring stable income to those willing to burn at least 5,000 USDT to join one of the programs that last 365 days:

• Dynamic – Estimated ROI 86.96% APY
• Balanced program – Estimated ROI 43.47% APY
• Conservative program – Estimated ROI 25.36% APY

Tiered Fee Discounts

Requirements for becoming eligible for a fee discount on spot trading are related to trading volume on a monthly basis. Depending on this, there’s a total of 6 VIP levels. The starting level has Maker/Taker fees set at 0.16% / 0.18% while the highest level VIP members enjoy discounts of 0.01% to 0.02% on fees.

In the same manner, futures trading fees vary from 0.10% / 0.10% to -0.01% / 0.02%. Margin trading fees range from 0.10% / 0.10% to 0.01% / 0.03%. 

The maximum available leverage is capped at 1:100, which is far above any limits imposed by prominent EU, UK, and US regulatory institutions.

Restrictive Withdrawal Conditions

Deposits are handled through the usual channels, including crypto and FIAT payments:

• Bank Cards – Visa, MasterCard, AmEx
• Bank Wires
• E-Wallets – Stripe, PayPal
• Crypto Transfers

Finding out the exact withdrawal procedure is not an easy task. You’ll have to dig through the Terms and Conditions document that is displayed in such a small format the letters are absolutely tiny.

Reading through it, we can see that the company requires a minimum trading volume prior to approving a payout. If the client does not meet the requirement, the exchange will charge a whopping 13% withdrawal fee!

That’s not all, as the minimum amount for a payout is $100. This means that a very small number of highly profitable accounts will actually see any money back from the exchange.

Final Thoughts

The BIT markets scam will not only deceive you into thinking money making is what their platform is most competent for. They will also force you into bankruptcy by extorting huge amounts of money from you for the alleged AI trading amenities and high passive profits.

Please don’t refrain from asking for our help with fund recovery. Our specialists have the technology needed to help you retrace the transactions and locate your lost funds. For additional details, please book a free consultation with our chat agent.

FAQ Section

Who Owns the BIT Markets Broker?

Two companies are mentioned when it comes to providing online trading services and technology: Bitmarkets, UAB and Unicorn Technologies Ltd.

Is There a Way To Recover Stolen Money?

Of course there is! As long as you contact us on time, our experts will do everything in their power to help you restore the assets you lost to fraud.