The first indicator of issues is the TradeSimple domain. Typically, domains containing .org, .gov, .edu, and similar abbreviations are used for government and non-government organizations. Yet, here we have a broker using the said domain. 

Furthermore, the company lacks transparency and provides much misguiding information. Our detailed TradeSimple review elaborated on all the red flags. Let’s begin.

In top of that, we seriously recommend you not to invest in the fake brokers AF Group, FutureProfit, and EuroInvestec. Do not trade with these unlicensed brokers if you want to save your money!

Is TradeSimple a Regulated Broker?

TradeSimple claims to be a brand owned by Apollo MS Ltd, registered in London, UK. While this may be true, as such a company exists, here’s the issue. The firm entered the House of Companies register on the 13th of January this year. The nature of the business is registered as public relations and communication activities, advertising agencies, and media representation services. 

None of the aforementioned businesses matches the company’s actual operations – providing Forex and CFD trading. For such activity, the firm would need an FCA license. And according to our research, it doesn’t have one.

Additionally, this company falsely claims to hold licenses with ASIC, IFSC, FSA, Bank of America, and CySEC and to follow MiFID rules. FSA of SVG and Bank of America don’t issue licenses for Forex and CFD trading brokers, so it’s clear that this is a notorious lie. Upon checking the rest of the databases, we found nothing about TradeSimple.

Reasons Not to Trust an Unlicensed Broker

Unlicensed brokers often misguide their users by providing partial information or no details at all. Here, we have a broker that registered its business but didn’t apply to provide financial services. Thus, nobody directed them to obtain an FCA license. 

The Financial Conduct Authority requires UK-based brokers to have minimal operational capital of 730,000 GBP and to participate in the Compensation Scheme fund with 85,000 GBP per trader. Since TradeSimple didn’t get a license, it doesn’t need to follow these rules. Therefore, you will have no right to be reimbursed.

​​Is TradeSimple a Legit Broker or a Scam?

TradeSimple claims to be a UK-based brokerage. Despite false claims, it has no FCA license, and there are no proofs for the claim. Combined with negative reviews, false claims strongly indicate that the broker cannot be trusted.

What Do Traders Think About TradeSimple?

TradeSimple doesn’t have traders’ trust. According to reviews, the company has scammed numerous customers and refused to approve any withdrawal requests. As per our knowledge, clients were tricked into investing thousands of dollars, and the firm blocked their access to the trading account and money.

Dealing with phony brokers always constitutes certain risks. To avoid them, the best is to find a regulated firm that follows regulatory guidelines.

TradeSimple Trading Platform – Available Trade Software

If you try registering an account with this bogus broker, you’ll see an error. There are many technical issues, making the registration and trading process far from simple. Unlike its name suggests, this firm does everything to complicate things.

According to the website, clients can get access to a WebTrader. Due to the aforementioned error, we’re unable to confirm it.

We see no reason to waste your time with this company any further. Instead, you can find a legitimate brokerage offering reliable trading tools, such as MT4 or MT5.

TradeSimple Accounts Overview

The broker offers six account types, those being:

• Basic – $250
• Bronze – $5,000
• Silver – $10,000
• Gold – $50,000
• Platinum – $100,000
• Diamond – Contact the account manager

Besides the deposit, accounts differ in access to different assets, spreads, signals, and other educational materials.

Bonuses – Ways to Limit Withdrawals

The broker offers bonuses, rewards, and promotions and advertises it as a benefit. If you read the T&C carefully, you’ll see the issue.

“If the Client obtains a bonus, reward, or promotion with more than 10% of the capital, it will be subject to particular obligations, which shall be determined with specific transaction requirements on each dollar of the bonus funds.”

Since nothing is specified, it’s probably expected from account managers to decide on terms in each particular case. 

TradeSimple Broker – Countries Of Service

TradeSimple trading scam is mainly conducted in:

• UK
• Sweden
• Australia
• Canada

While these are not the only areas, they’re definitely suffering the highest monetary losses. We believe that the more people report fraud, the higher the chances of closing the website and recovering customers’ funds.

Also remember the names of the TradeBaionics, TrustGarden and METAfmi trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

TradeSimple Range of Trading Markets

While we’re unsure if any trading is possible with this technically disabled platform, here’s the overview we got from the broker’s website. Clients can invest in:

• Currency pairs – EUR/USD, GBP/CAD, USD/ILS
• Commodities – gold, natural gas, palladium
• Indices – Dow Jones, S&P500, CAC40
• Shares – Alibaba, Adidas, Bank of America
• Cryptocurrencies – BTC, LTC, USDT

What Is Known About TradeSimple’s Trading Conditions?

It’s impossible to speculate on trading conditions without access to the platform. The broker’s website is not transparent enough to disclose important things, such as leverage and spread. On the other hand, without seeing the assets, we cannot comment.

Whatever is on offer, it’s worth noting due to the broker’s unregulated status.

TradeSimple Minimum Deposit and Withdrawal Terms

The minimum deposit with TradeSimple broker is $250. Since most regulated firms allow customers to start with $100 or less, this is unfavorable.

When it comes to withdrawals, we know virtually nothing. The T&C explains withdrawal as profit, funds, and/or money transacted or taken from clients’ accounts. Yet terms remain uncovered.

Payment methods are not disclosed either. You should decline the offer if you’re asked to deposit your funds using any suspicious method, such as crypto. Otherwise, recovering your funds may be quite a challenge.

Scammed by TradeSimple Broker? – Let Us Hear Your Story

If you or someone close to you has been scammed by TradeSimple, ensure to report it. Our recovery specialists may assist you with the refund. 

Instead of letting scammers run with your hard-earned money, get in touch. Our vast experience may be helpful for successful dispute resolution. Book a free consultation and let’s start the process!

What Is TradeSimple?

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

Is TradeSimple a Scam Broker?

TradeSimple is registered as a marketing agency while providing unregulated financial services.

Is TradeSimple Available in the United States or the UK?

The company operates in the UK but doesn’t accept US residents or anyone holding a US passport.

Does TradeSimple Offer a Demo Account?

TradeSimple doesn’t offer a Demo account. Due to technical errors, registering an account is currently impossible.

When we first encountered netbtccoin.com, we had a feeling of deja-vu. We have seen this exact website, with identical page layout and trading conditions somewhere else. Reading the Terms of Service, one company name stood out – CRYPTO ARBY TRADE LIMITED. A known scam company that operates half a dozen similar fraudulent sites!

See the remainder of our Netbtccoin Review to find out more on how these notorious fraudsters steal money from their clients.

Subsidiary Of A Known Fraud

Netbtccoin is the newest in line of scam companies owned by CRYPTO ARBY TRADE LIMITED. The Russian CBR has issued an investor warning about this dangerous Financial Pyramid Scam. CRYPTO ARBY TRADE LIMITED was previously registered in the UK, but has since been dissolved.

Although the warning in question does not directly address netbtccoin.com website, the similarity in overall design, trading conditions and other details is unquestionable.

Readers be advised: we are aware of another currently active scam site owned by the same company as Netbtccoin operating under the name CEFAX.

Just like her sister companies, Netbtccoin is offering illicit services. They have no authorization by FCA, BaFIN, ASIC, FINMA, CBR or any other regulator. The company is completely unlicensed and unregulated.

The Netbtccoin Scam Is Global

Netbtccoin scam first went online in late 2022. The unlicensed operation of the Netbtccoin scam lets them offer their alleged services unrestricted by jurisdictional differences.

They are active in many areas of the world, with these nations impacted the most:

• United Kingdom
• United States
• South Africa
• India
• Nigeria 

All of the companies under the CRYPTO ABBY TRADE LIMITED wing have the same principle of advertisement. They rely heavily on Boiler Room Agents to attract and involve new victims with the platform. The agents behind Netbtccoin and other scams from the same group are notorious for being incredibly persistent. Oftentimes, people would invest just to stop the constant unsolicited phone calls.

Having your deposits stolen by a fraudulent entity can be a serious financial strain. Do not hesitate to seek compensation – our legal professionals are on hand to help you out of the bind.

Fees Quickly Stack Up

At Netbtccoin, Maker and Taker fees are 0.3%for starter accounts, but are dependent on daily trading volume. The minimum executed trading volume is $5 000 to reduce these fees by 0.08%. Minimum Maker fees are 0.02%, but require an unachievable trading volume of $5 000 000 daily!

The company charges a 1% deposit fee. It might not seem much until you compare it to the industry average of 0.05%. Withdrawals are available only in crypto coins, for which the withdrawal fee is 0.000034BTC.

There is also the verification fee, and clients are required to pay a number of different “verification fees” of $150 each. There are no rules as to when these charges apply.

Alleged Bonuses

The client dashboard at Netbtccoin contains a form that lets users redeem promo codes for various bonuses. Bonuses have been explicitly forbidden in many jurisdictions, including Europe and North America.

More alarming is the fact that there is no mention of bonus policies in the Terms of Service. We have seen this before with other fraudulent companies like PrimoTrade.

Trading Features Overview

Many unregulated companies offer deals that seem more lucrative than their legitimate competitors. It’s a very logical step, since companies like Netbtccoin or INVcenter have little to offer other than false promises.

Rookie traders are especially affected by these claims, as they are not yet knowledgeable enough about industry averages. There are many different caveats, so let’s examine them in more detail.

New Software Holds No Improvement

Netbtccoin offers a more advanced version of the same web trading software used by her sister scam sites. 

One of the alleged improvements is the integration of social and copy trading. A live chat option was embedded into the trading page to facilitate this. Of course, the entire chat consists of bots spouting gibberish.

Otherwise, the application is as broken and dysfunctional as ever. Maybe they should have invested more resources in fixing the horrible lag times? Just a thought.

Microscopic Selection Of Coins

Allegedly, clients can swap, trade or stake around 40 different crypto coins. This is below any minimum in the industry, with many lesser known exchanges supporting tens of thousands of different coins.

Netbtccoin also offers leveraged trading of cryptocurrency futures. The advertised leverage is 1:5, which is more than what most regulators allow.

Here is what the company offers for trade:

• Cryptocurrencies (Bitcoin, Ethereum, Litecoin, DogeCoin)
• Crypto Futures (Bitcoin, Ethereum, Ripple, Cardano)

The Same Shady Trading Account

There is only a singular account type for Netbtccoin Login, and it is not available as a demo. The account benefits from fee reduction, based on the daily trading volume.

Just like other CRYPTO ARBY TRADE LIMITED scams, Netbtccoin will freeze the assets if the account balance is $500 or more. In order to unblock the assets, the clients must activate premium status.

To activate a premium account you must also buy insurance, and both of these must be paid in a single instance. This costs $500, which cannot be paid out of the remaining account balance.

Issues With Netbtccoin Withdrawals

Netbtccoin withdrawals require a premium account, which in turn requires insurance to be paid. The account needs to be verified, through a number of different verification stages each costing more than the one before.

In the end, the client just gives more money to the scammers. Knowing how the other scam sites from Netbtccoin family work, it is unlikely that the swindlers will ever allow a withdrawal. If you find yourself and your money stuck in this loop, reach out to us for help in recovering your funds.

Customer Support

The Netbtccoin customer support is available only through the live chat on the website. The clients are never connected to an actual person in this chat, and only a simple bot will answer support tickets.

This bot has been programmed to break communication when a certain keyword is used. For instance, a client that wishes to “withdraw” will be locked out of further correspondence.

The Final Opinion On Netbtccoin

Netbtccoin is the newest addition to the lineup of scam fronts by CRYPTO ARBY TRADE LIMITED. They are a known fraudulent company with an outstanding CBR warning.

Netbtccoin is not to be trusted. We have heard from many people who have been defrauded by Netbtccoin and the many other scams from the same family. Don’t leave your money to the scammers! We offer chargeback services for victims of Netbtccoin and other fraudulent cryptocurrency exchanges. You may contact us via the live chat, and book a free consultation at any time.

FAQ Section

What is Netbtccoin?

Netbtccoin is an unlicensed cryptocurrency exchange owned by a known fraudulent entity.

Where is Netbtccoin from?

It is difficult to ascertain where Netbtccoin is located. The company claims to be based in the UK, but this information is not trustworthy.

Is Netbtccoin Safe For Trading?

No, Netbtccoin is owned by a known fraudulent group. If you have invested with Netbtccoin, seek legal advice on how to recover your assets.

In the trading era, many clients learned about the importance of security. Yet, CCG Global broker didn’t mind about new trends. They still go the old-school anonymous way.

But why not if it still works. Thus, we will discover in this CCG Global review how this all works. But more importantly, how not to get caught in the claws of this bogus scam.

CCG Global Is a Scam Broker? – The Truth About Regulation

Not only that this broker doesn’t share information about regulation. But also information about offices address or headquarters. Everything is missing, yet they expect someone to trust them. So, we will dig a bit into some registers. Whenever you are looking for a legitimate broker, you require the highest security standard.

Completely anonymous broker. CCG Global doesn’t have regulations. Untrusted trading platform. Extremely high leverage. Numerous negative reviews about the broker.

Mostly Tier 1 regulators can provide such stability. That’s why we always check FCA, BaFin and ASIC databases. In fact, it was successful research because we didn’t find anything about this broker. So, we are exposing a scammer now. Most likely their platform is completely fake. Same as their adverts. They use AIs and celebrities to lure their traders. However, with a license, they would be strictly controlled.

The Opinions of Traders On About CCG Global

As we can see from CCG Global reviews, traders were scammed for big money. Some even for more than 700.000 USD.

There are only 20 reviews in total, but almost 20% of those are 1-star rated. However, others are invited. This means that the broker directly sent them the link to leave a comment. What a farce.

Trading Platform and Other Apps on CCG Global

Above all, traders couldn’t even expect security through the software. CCG Global broker doesn’t provide any trusted third-party software. But only a web-based platform with limited tools. If you were looking for expert EAs or social trading you might forget it.

Not to mention automated trading which they strongly advertise. Another key point is lack of mobile app. So, the software is only used via a browser.

What Financial Instruments Does The Platform Include?

As with many other anonymous brokers, they have credits only for this section. But if we can trust the data presented on the platform. Nevertheless, the available options are:

• Forex                        USD/GBP, AUD/HKD, EUR/HUF
• Commodities            palladium, natural gas, crude oil WTI
• Indices                      DAX 30, S&P 500, FTSE 100
• Shares                      Walt Disney, Aurora Cannabis, Deutsche Bank
• Cryptocurrencies       BTC, ETH, SOL

Since the broker has a malicious platform, all market data might be fictive.

CCG Global Countries Of Service

CCG Global trading company operates worldwide. But they have a disclaimer to avoid some countries. Probably due to strict laws.

But as we can see from CCG Global reviews, they are mainly scamming traders from:

• Canada
• Australia
• Malaysia
• United Kingdom
• Netherlands

What Are The Different CCG Global Account Types?

As for the account types, they don’t differ much from other scammers. Not so many trading benefits are available.

As per CCG Global trading company, their main benefit is their analyst. Which is not licensed, so useless. Their only goal is just to extort money from traders. Anyway, you can choose from:

• Self-managed   $250
• Basic            $5.000
• Gold             $10.000
• Platinum       $25.000
• Diamond       $50.000
• VIP               Invitation only

Can a Trader Use a Demo Account?

As with any other anonymous broker, they don’t provide a demo account. If they do, they would expose all their flaws.

That’s why these scam brokers put you to the test. They will persistently call you and try to persuade you into  depositing. But with such an anonymous and shady broker only non-experienced traders can fall. In fact, that’s what they are looking for.

Terms of Service for CCG Global

As for the funding methods the broker accepts:

• Credit/Debit card
• Wire transfer
• Bitcoin

We highly recommend you always use cards for such purposes. That way you are at least protected with a chargeback.

But this broker uses all dirty tricks to persuade you into depositing through crypto. This way they remain anonymous and helps them scam you easier.

Leverage, Spreads and Fees

In general, they are trading with clients from strictly regulated countries. None of these regulators would allow leverage of 1:400. It can easily wipe your account balance off. Not to mention getting into debt with a lack of negative balance protection.

The broker doesn’t reveal their spreads on the account type offers. But after registering we saw an extremely high spread of 6.8 pips on majors. Which is insane. Another key point is their missing fees and commissions. So, the idea is that you get presented with those once you want to withdraw money.

CCG Global Bonus Policy

We have seen so many tricks, but this one is the most often one. Yet, traders never learn. Once you accept any kind of bonus, you are tied to this broker. Mostly forever, because it’s practically impossible to withdraw any money.

For instance, CCG Global broker doesn’t allow you to make withdrawals higher than 20% of your balance. Of course, if you accepted the bonus. The reason for that is a malicious clause that requires you to trade a certain volume. However, if you do so, they can revoke all profits and bonuses.

Scammed by a CCG Global Broker? – We Want To Hear Your Story.

Not all hope is lost. Let us hear about your experience. This way we can warn other traders of this swindler.

Additionally, our specialized fund recovery team can help you. With our knowledge, we can quickly start a chargeback process. Even trace crypto transfers with CipherTrace software.

What Is the Chargeback Procedure?

It’s a debit/credit card transaction reversal. A merchant or cardholder can file a request in the first 540 days. Our team is there to assist you with a procedure. Don’t hesitate and get back to us today. Your money is at stake!

What Is CCG Global?

This is an anonymous trading company that offers FX and CFD trading services worldwide.

Is CCG Global a Scam Broker?

Yes. They lack regulations and there are multiple negative reviews against them.

Is CCG Global Available in the United States or the UK?

This company only allows UK traders, but not the US to trade with them.

Does CCG Global Offer a Demo Account?

No. You can only choose live trading account types. No risk-free option is available.

PrimeMarkets broker is under the ownership of Emerald Edu Group Ltd. We can see they operate since 2017 in the UK. Practicing FX and CFD trading services in the UK is very strict these days.

To see if this broker complies with all rules and regulations read this PrimeMarkets review.

Is PrimeMarkets a Scam Broker?

PrimeMarkets trading company claims to be regulated by the EMA (European Markets Authority). Thus, such an institution is just a copycat of ESMA (European Securities and Markets Authority). Therefore, this company is misleading traders into believing their legitimacy.

Another key point is the UK regulation. Some of the most trusted Tier 1 regulators are FCA, BaFin and ASIC. To be able to provide trading services in the UK, you must have an FCA license or TPR (Temporary Permission Regime). However, PrimeMarkets broker doesn’t have any of those, but also no regulations from any Tier 1 regulator. Therefore, all their statements on the website are questionable.

Warning Issued by Financial Authorities

Above all, any legitimate company wouldn’t have any warnings. But PrimeMarkets scam broker does. Italian CONSOB has issued a warning against this broker for scamming Italian citizens.

Additionally, FSMA and CNMV have shared this warning to protect Spanish and Belgium citizens. But also anyone who was thinking to invest money here.

PrimeMarkets Platforms – A Software Comparison

As for the trading software, PrimeMarkets broker offers Sirix. Even though it has reliable software for any device, it’s not as reliable as Meta Trader. Broker promotes basic features that are nowadays essential.

However, you won’t find options like social or copy trading. But also they miss automated trading options. Considering that they are UK based and have no FCA license, everything is doubted. Therefore, the platform that they offer is irrelevant without regulations and security. Similar examples of shady companies you can find in our Glenrocks and TradeFCM reviews.

         What Financial Instruments Does The Platform Include?

If we disregard the lack of regulations, this company has quite good instruments range. With 3500 instruments available, that’s more than enough for anyone to find a proper opportunity.

PrimeMarkets broker covers:

• Currency pairs (Forex)           USD/SEK, AUD/HKD, SGD/NOK
• Commodities                        Natural gas, palladium, cotton
• Indices                                  DAX 30, CAC 40, Nikkei 225
• Shares                                  Walt Disney, Amazon, Google
• Cryptocurrencies                   BTC, ADA, DASH
• Bonds                                 

Important to realize is that for trading such assets in the UK, an FCA license is mandatory. Thus this broker doesn’t have it.

PrimeMarkets Countries Of Service

On the positive side, PrimeMarkets reviews reveal their scamming patterns. This company is mainly scamming traders from:

• Italy
• France
• Germany
• Netherlands
• Spain

All countries have very strict regulations. Thus, this broker doesn’t have any of those. After this and warnings you realize that this broker is nothing but a bogus swindler.

Account Options Offered by PrimeMarkets

With PrimeMarkets broker there are 4 account types:

• Premium                   250 EUR
• Zero Spread              500 EUR
• Copy                        1.000 EUR
• Premium PRO           5.000 EUR

Trading conditions are questionable for each account. Considering their fraudulent history, it wouldn’t be a surprise that those are just fictive marketing strategies. Be aware of non-licensed brokers and think twice before investing money. Additionally, this broker doesn’t offer anywhere Islamic account. Even though these became very popular recently.

         Can a Trader Use a Demo Account?

Whatever way you try to get access to the platform, you must register first. Have in mind that many licensed brokers offer transparent access to the platform. Whether through a demo or micro-accounts.

Thus, PrimeMarkets scam broker doesn’t offer any of those options. With this in mind, you know there is something hidden behind the scenes. Instead of risking your hard-earned money, you can stay patient until you find proper broker. But try to find a regulated one to avoid headaches over security measures.

Terms of Service for PrimeMarkets

PrimeMarkets trading company has icons of trusted payment providers. But if they really offer that or something else remains a mystery. Some of the advertised funding options are:

• Bank cards
• Wire transfers
• e-Payments (Skrill & Neteller)

Important to realize is that the broker doesn’t have any transparent withdrawal policy.

         Leverage, Spreads and Fees

PrimeMarkets broker is quite mysterious when it comes to trading conditions. Leverage for most accounts is variable. Which means they will give you anything they find suitable. Of course to get you to deposit more money. For experienced retail traders, they allow leverage of up to 1:400. This directly violates ESMA rules. But what’s really concerning is who decides if the trader is experienced.

Even though spreads allegedly start from 0 pips on some accounts, that is questionable. Since you can’t get access to the platform you can’t confirm that. But most likely, that’s just a marketing strategy.  Even though they advertise 0% fees on deposits, nowhere is to be seen withdrawal fees.

What Should I Do If I Have a PrimeMarkets Problem?

Since this company is not regulated, your solutions are limited. Firstly, you can share your experience with us. Warning other traders about fraudulent activities is always positive. Vice versa as well. Secondly, our expert fund recovery team can build you a strategy to recover your funds.

Whether you were making a card purchase or crypto transfer,  you have a solution with us. The most important thing is not to wait until it’s too late. For instance, chargebacks are time limited for the first 540 days. Instead, you can file a request on time and solve all issues. Get in touch with us today. Our recovery team is available to give you any advice. Most importantly, the first consultation is free of charge!

What Is PrimeMarkets?

PrimeMarkets is a broker offering FX and CFD trading services with headquarters in the UK.

Is PrimeMarkets a Regulated Broker?

No. The broker doesn’t have Tier 1 regulation, but most importantly they lack FCA licensing.

Does PrimeMarkets Have a Referral Program?

Yes. They have multiple options to promote their company through referral and affiliate programs.

Does PrimeMarkets Offer a Demo Account?

No. The only way to get to the platform is by depositing 250 EUR.

Despite the best efforts of Handelex to aspire trust and appear confident, they’re still an offshore, unlicensed brokerage. Emerging in the middle of 2022, the company has only scammed the victims and done nothing to regulate their legal status since then. That’s why we’ve assembled this Handelex review to bring the truth to light and prevent more defrauding.

The number of positive reviews Handelex is getting is disturbing to say the least. The unnamed parent company of Handelex is based offshore, in Saint Vincent and the Grenadines. 

If you’ve read our review on Exteom, you’ve already gotten familiar with the risks of trading with such sham projects. If you haven’t, we wholeheartedly recommend reading the following review, so you can provide yourself with a full insight on how offshore swindling schemes work.

Is Handelex Regulated By A Financial Authority?

How utterly unsurprising of Handelex not to mention any regulation or license they own. That’s simply because they do not. You can go through all the charade of the legal docs and try to establish who the owning company is and what licenses they hold. Sadly, it’s all in vain. 

Handelex doesn’t for a second attempt to look credible by informing you of their owning company, history and background, as well as which entity supervises them. 

Yet, the site has the audacity to declare to be a unique chance for your Forex success. The reason behind the happy-go-lucky facade is the fact that Handelex is a SVG brokerage agency, conceiving their true nature and fraudulent intentions. 

Because the broker itself couldn’t have been regulated by the SVG authority – FSA, we had to conduct our own research. However, checking the databases of FCA, BaFin, ASIC, CySEC, FINMA and NFA provided no feedback at all. After determining that Handelex is completely unlicensed and illicit, we have to remind you why your broker of choice must have a Tier 1 license. 

Firstly, never forget that heavily regulated brokers represent stable, and long-lasting businesses. Their leading teams have invested a hefty amount of capital into the conduct upon applying for a license. 

Secondly, it’s important to keep in mind that Tier 1 brokers keep your funds in segregated bank accounts, out of their own reach. Following that measure, there’s also compensation funds, negative balance protection and leverage restriction to 1:30 or 1:50, depending on the area. 

Handelex offers an insanely high leverage of 1:400, while placing no insurance or compensation in case of loss or dispute. We advise extreme caution if you ever end up doing business with such a dangerous entity.

Handelex Reviews and Comments

Again, we have to express the deep concern we have about the reviews on this clearly fraudulent company. Whether such positive ratings come from paid reviewers or the swindlers themselves, it is an extremely alarming state of matter. Both TrustPilot and Sitejabber suggest positive feedback from the Handelex customers. However, from the sound of each of the comments, you can figure out just how dishonest and ungenuine they are.

What we did manage to pinpoint is some of the negative impressions left, and let us tell you, they’re very convincing:

They took all my money , complete scammers. They push you and push you to get large amounts of money, lsaying they have a great packet that will earn you great profit. You put the money in the account and when you ask for a withdrawal, only the one person who deals with you can withdraw and within seconds all your money disappears and they change your password and close the account. Then they phone you after a month and ask what information you have, fishing to see if you have any evidence. REAL CRIMINALS.

I deposited into Handelex but can’t withdraw my money. They tell me they deposited back to my card but no funds have been returned & now they won’t return calls or msgs.

This is not a registered company, you can check, it is a scammers set up. You never have the possibility to withdraw without consent, othen when they have a large amount of your money, which they will push and push you to get, it will disappear immediately and they will blame you for making bad orders to sell.

Where Is Handelex Trading Scam Active?

Offshore operating companies have a common goal of targeting traders from developed areas. Yet another example of that is BitWest Group. 

The number of scam victims suggest the same practice at Handelex. In a little less than a year, Handelex has managed to defraud a significant number of retail traders. 

Most of the targets come from the following areas:

• United Kingdom
• Canada
• Australia

How Good Is Handelex’s Trading Platform?

Registering an account with Handelex was relatively easy, as no verification or codes were needed. Shortly after opening an account, we found out that the available platform was the infamous web trader. 

Used by almost every other scam broker out there, the web distribution is their most favorite playground. The possibilities of controlling the price fluctuations are endless with this one. It makes it the most commonly used by offshore scams schemes that want the full control of your trading activities so they can snatch your funds more easily. 

The only excuse you’ll ever get for the sudden market change that led to the loss of your funds is the market being too volatile.

Choice of Handelex Account Types

With a promise of offering the best trading conditions possible, Handelex presents the following offer of the available account types:

• Basic – €250
• Silver – €10,000
• Gold – €25,000
• Platinum – €100,000

The beginning account is not all that expensive. As a matter of fact, it belongs to the group of average costing brokerage packages. Sadly, it is just a bait. You don’t really unlock any of the key features or advanced benefits by buying it. For anything more than just looking around, you’d have to be ready to pay a lot more. 

We’re afraid that any investment into these overpriced accounts is fruitless, no matter what they sell. Handelex is a fraudster that is only good at promising, and not actually delivering the services and products they advertise.

Is There a Risk-Free Demo Account?

Handelex treats every account you open with them as a live trading account. That’s why, immediately after registration, you will be urged to deposit real money. Otherwise, you won’t be able to test the trading environment properly. The platform itself will not allow you to manipulate any of the functions without having an initial margin required. 

Joining with a Demo account doesn’t even seem to be an option. No where does the broker mention this possibility. Typical for scam brokers that have a lot of things to cover, this is just another red flag to watch out for when choosing a broker. 

Is Profit Withdrawal Possible?

Before attempting to perform any withdrawals with Handelex, you have to fully verify your identity by providing some mandatory documents. A bit hypocritical of a totally anonymous financial services provider to demand from their users to submit the photo of their passport, national ID, and driving license, don’t you think?! That is not all, mind you. 

After that, every trader applying for a payout has to take photos of their credit cards and send those in, as well. The same stands for your bank credentials. You know, to help Handelex access your capital easier and then extort some more cash under threats of abusing your identity info.

As for the fees surrounding the process, you can expect a fixed fee of 1%, which cannot amount to less than $30 and more than $300.  

I Lost Money With the Handelex Scam, What Should I Do?

Although scams happen each and every single day, the victim doesn’t feel like they have many options. The common feelings surfacing with the experience are despair and hopelessness. The important bit is not allowing those to affect your plans for action. We can help you with that. 

As soon as you find out that you’ve been defrauded, you should reach out to us. Our team of legal experts have many ways to help you. Your funds can be back with you before you know it. Also, thanks to the information you have on this or any other scammer, we can work on starting legal action against their criminal activity. 

If you’re just curious or concerned about the broker you’re dealing with, you can also contact us if you’d like to find out more about them. Whatever your problem with a broker is, you can count on us to solve it.

Are my funds safe with Handelex?

No investments and capital are safe with an unregulated, anonymous, offshore broker. The original purpose the swindlers have is to defraud you and get away with it. The same behavior is displayed by Handelex.

Can I Trade Crypto and CFDs With Handelex?

Crypto trading is available at Handelex. As a matter of fact, the single instrument class available are digital currencies.

Does Handelex Have a Referral Program?

At the time being, Handelex doesn’t offer such a program or anything similar.

Having a company shove a legal disclaimer in your face as soon as you visit their website is never a good sign. The more alarming issue here is that the firm in question is trying to distance itself from what we know to be fraudulent solicitation strategies.

What makes this entity so dangerous, and why is the company so desperate to appear innocent? Find out more in our QuoMarkets review.

 Statements vs. Reality

There are many legal entities involved, and each has an unclear regulatory status—we already have a hunch about how much of a headache this investigation is going to be.

The QuoMarkets broker claims to operate from several locations and through multiple entities which make up a shady group. These separate branches are TQBG Ltd (Cyprus), Trade Quo Global Ltd (tradequo.com – FSA licensed), TRADEQUOMARKETS LTD (Dominica) and Quo Markets LLC (SVGFSA registered).

The first problem with these claims is that the affiliation between the quomarkets.com domain and these firms is unverifiable. Some of the firms operate through other domains and the SVG regulator doesn’t supervise brokerage activities at all.

Red Flags From Regulators

Public warnings further undermine the firm’s claims about operating legitimately through other branches. First, FSA (Seychelles) has confirmed that the domain in question is entirely unlicensed and operates without legal supervision.

The warning was quickly reposted by FI (Sweden), which means that the company tries to offer services without permits to Swedish investors. Lastly, CySEC has also blacklisted this portal at the end of 2024, confirming that the unscrupulous domain follows no legal directives. Offshore entities, even less strictly regulated like EnterTrade prop firm, shouldn’t be easily trusted.

Manipulated Review Scores

Nearly all of the QuoMarkets reviews we found on TrustPilot were very positive. As many as 89% of all comments are 5-star ratings, which struck us as odd. After reading a few of them, we got the gist of what was going on. It seems that the firm incentivises its users to post positive ratings, and even though the customers are actually complaining, they are leaving 5-stars.

One of the clients even says that withdrawing money is difficult with numerous hindrances, but still left 4-stars. Other positive reviews focus on how good the customer support is, which tells us nothing about the broker.

Worldwide Operations

The quomarkets.com domain was first registered in late 2022. According to the WhoIs information, the lease is extended all the way up to 2033. This means that the con artists are planning to stick around for a while.

The main target group for the scheme is traders from these nations:

• Germany
• United Kingdom
• Italy
• Spain

Both unregulated and loosely supervised platforms like TradeQuo and this one aren’t able to provide world-class trading conditions, so it’s better to choose properly regulated solutions.

How Illegal Firms Deceive Traders

Online con schemes usually rely on boiler rooms and viral advertising to reach out to new clients. In this case, we can see that the firm operates numerous social network profiles, including ones on Facebook, X and LinkedIn. These may not have much traction, but the group does gain some exposure. QuoMarkets Reddit board is not exactly a hive of unending activity.

However, this broker uses various online scam promoters to cover for the low number of followers. These are mostly found on Instagram and Threads, where they peddle the ideas of quick riches and opulent lifestyles.

Of course, it’s all a ruse to get you hooked. Ponzi schemes are known to release some payouts at first, but never the entire invested amount. Don’t turn this into a total loss – contact our legal team to start a recovery procedure.

Trading Platforms – MT4, MT5

Anyone who has at least some experience with online trading must have used these premium apps at some point in their trading journey. Fast, efficient, and feature-rich, MetaTrader platforms are among the most loved and preferred software in the industry today. Whether you’re a beginner investor or someone who has decades of experience, you’ll find yourself trading on this terminal. 

The website advertises desktop and mobile downloads for both apps, but we tried to test the QuoMarkets MT5 Demo version and failed. The server repeatedly asked for the right credentials while the ones we used didn’t work.

Accessing the User Panel

The process of creating a new QuoMarkets login is quick and does not include any particularly difficult conditions. However, account funding requires you to complete the KYC prior to any such action. 

This, naturally, includes sharing your personal information and payment details, so you can understand how risky that is. Illicit crypto operators will then be able to access your funds unauthorizedly and misappropriate your assets easily.

Here’s the account overview:

• Raw
• Standard
• Zero
• Limitless

Deposit requirements for unlocking each package were not revealed, but it appears that users are allowed to open trades with as little as $5.

Risky Trading Circumstances

One QuoMarkets trading parameter that immediately caught our attention is the huge exposure. The leverage on this terminal is capped at 1:1000, although you can choose to start off lower.

Depending on the account type chosen, trading commission can vary from $0 to $4 per side, while the spreads vary from 0.0 pips to 0.6 pips in the beginning.

Other significant commissions you’ll be obligated to pay are the withdrawal fee of at least $30 for wire transfers. 

Can You Withdraw?

Clients can issue withdrawal requests at any time. There are several ways to use in order to pull your funds out:

• Cards
• Wire
• E-wallets
• Cryptocurrencies

Bear in mind, however, that the company has a strict policy and if you’ve also accepted any cash rewards, there’s also the QuoMarkets bonus withdrawal conditions. The firm isn’t entirely explicit when it comes to payouts of the bonus amounts. Legal documents state that they reserve the right to change the conditions and block any withdrawals at any time, so please practice caution.

How to Recover Lost Funds

Despite the misleading information on QuoMarkets’ Trustpilot page, we’d advise all our readers to choose a better regulated platform to invest with. This shady entity displays fraudulent intentions and is known to authorities for operating without licenses.

If you happen to have issues with withdrawals, we advise you to immediately reach out to our chat agents. You can book a free consultation with our recovery team and we’ll do whatever is in our power to help you issue a chargeback.

FAQ Section

Is QuoMarkets Legit Forex Broker?

No, this company is actually operating a domain that has no affiliations with legal entities mentioned. The website is even blacklisted as illicit.

How To Recover Money Lost on a Scam?

It would be best to get in touch with our legal advisors and find out what you can do to issue a chargeback and recover stolen assets.

At the time of this writing, this broker’s website was unavailable, i.e. shut down. This is most likely a consequence of the regulatory warnings recently issued by the FCA and CBR against the platform.

Although the site is down, it does not mean that the fraudulent provider will not reemerge in a different form, which is why you should read our GainGround Review and learn how to identify online trading scams. Find out how to recover funds from such schemes.

Is GainGround Regulated?

This cyber con artist was exposed by the UK’s Financial Conduct Authority (FCA) on October 2, 2023. The reputable regulator issued a warning against the platform, which most likely resulted in the bogus website getting shut down.

The FCA states that the “firm is not authorised by us and is targeting people in the UK.” In case you trade on an unregulated platform, you won’t be protected by the Financial Services Compensation Scheme (FSCS) if things go wrong, meaning you won’t get compensated if the firm goes out of business.

In addition to the UK regulator, the Bank of Russia (CBR) also blacklisted GainGround for violating regulatory rules. When financial market watchdogs put a certain platform on their warning lists, as was the case with Oro Markets, know that it is a scam.  

If you want a reliable trading platform, we suggest you find a brokerage firm that legally operates under the supervision of renowned financial market authorities such as the FCA (UK), CFTC & NFA (US), ASIC (Australia), MAS (Singapore), IIROC (Canada), FINMA (Switzerland), etc.

Why Financial Market Regulations Matter

In order to obtain a regulatory license in renowned jurisdictions, brokerage companies need to meet certain requirements. Firstly, a firm doing business in the European Economic Area or the UK must maintain a minimum operating capital of 730,000 EUR/GBP.

Furthermore, its clients must receive negative balance protection, a segregated bank account in a top-tier bank, a safe leverage cap (1:30), and a compensation scheme contract (up to 20,000 EUR or 85,000 GBP). 

Trader Reviews – Sharing Experiences

What do traders think about this platform? On trustpilot.com, GainGround received 27 reviews and an average score of 3.7 (average). However, Trustpilot says it “removed a number of fake reviews for this company,” which is a huge blow to the shady broker’s reputation.

Several traders expressed their frustration that stemmed from withdrawal issues. One user cited issues with the GainGround login page. Another stated that the trickster “wanted me to download and install Anydesk which is app to control your screen.” 

AnyDesk is a useful app that allows one user to view the PC of another. As such, it can easily be manipulated and used for no good. It is crucial to not allow fraudulent platforms such as GainGround or PolaxGroup to gain access to your desktop.

If you need help getting your money back, we offer our services.

Who Were the Fraudster’s Targets?

According to godaddy.com/whois, the Gainground.live website domain was created on February 2, 2023. Since then up until it got shut down, the financial swindler has primarily been targeting unsuspecting traders who reside in the following countries:

• United Kingdom;
• Japan;
• Latvia;
• Poland;
• Germany.

The webparanoid.com page shows that GainGround’s website received an embarrassingly low trust score. Illicitly providing services to UK traders resulted in the platform getting flagged as a scam by the FCA and ultimately vanishing from the Internet.  

Which Trading Platform Is Available?

GainGround used to offer a web-based trading platform with limited features and tools. It supported basic charts, graphs, and indicators, but none of the advanced options such as automated trading or multiple timeframes.

In general, online trading terminals are not up to par with credible and well-known software that can actually facilitate and enhance trading. 

If you’re looking to improve your trading experience and make the whole process enjoyable, you should definitely find a licensed broker that supports recognized third-party software such as MetaTrader 4, MetaTrader 5, or cTrader.

Available Account Types

Leverage, Spreads, Commissions

GainGround offers different levels of leverage depending on the account type, with a maximum leverage of up to 1:2000. However, it’s important to note that while high leverage can amplify potential profits, it also significantly increases the risk of substantial losses.

Commissions were not disclosed. In terms of spreads, the provider promised competitive spreads, with examples such as 0.3 pips on EUR/USD, 1.4 pips on GBP/USD, and 1.1 pips on USD/JPY. 

But, as previously mentioned, it’s crucial to consider other factors such as the broker’s legitimacy and regulatory status when evaluating trading conditions.

Deposit and Withdrawal Process

GainGround accepts payments via credit/debit cards only. Hence, a chargeback is the most likely solution to get a refund. Since the website was down, deposit and withdrawal fees remain unknown.

Nevertheless, if you deposited funds via MasterCard and VISA credit/debit cards, you can request a chargeback. It can be done at the issuing bank within 540 days of the transaction. We can guide you through the process but first, you must book a consultation with us.

What Should I Do If I Have Issues With GainGround? 

To sum up, GainGround is an anonymous Forex trading scam that was recently exposed by the FCA and CBR. The main targets of this fraud were traders from the UK, Germany, Latvia, Poland, and Japan.

We stressed the importance of regulations and why it is better to trade under jurisdictions where Tier 1 financial market watchdogs operate. It’s imperative that you avoid unregulated platforms such as Ascending Bull.  

If you cannot withdraw your funds from GainGround, please book a free consultation with Scam Brokers Reviews. We have a team of skillful professionals who can assist you with the chargeback procedure and expressly get your money back.

Book your free consultation today and start the chargeback process.

FAQ Section

What Is GainGround?

GainGround is an anonymous Forex trading scam that used to offer a web-based platform with high leverage.

Is GainGround Regulated?

No, the platform got blacklisted by the FCA and CBR. If you cannot withdraw funds from your account, we offer our assistance.

Which Account Types Were Available at gainground.live?

GainGround used to offer four live trading account types – Standard, Cent, Crypto, and Micro.

What we have here is a scam broker that couldn’t lie to save its life. The OnyxTraders Review is here to prove that. By doing so, we hope you will forever stay away from this fraudster and the like. There’s no time to waste so let’s get into it!

Additionally, we strongly advise you to avoid the fraudulent brokers MTInvesting, FewaTrade, and OpoFinance.

Does OnyxTraders Broker Have a License?

First, we’ll take a look at an irregularity that pokes our eyes. OnyxTraders claims to operate out of SVG while being regulated by Mwali International Services Authority. It was hard to pick just one island, right? While OnyxTraders was busy playing Robinson Crusoe, the broker also managed to cook up a malicious scheme to defraud people.

SVG is infamous for housing a myriad of scams due to its laws and tax rules. Also, bear in mind that the local financial regulator (FSA) doesn’t care about Forex trading. The whole Mwali thing is questionable as well regarding regulations but that matters little since OnyxTraders does not exist on the authority’s website.

There you have it, folks! Not only is OnyxTraders unlicensed, but it is also anonymous and extremely dangerous.

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

Never trust these phonies because they will empty your wallet in a jiffy. Instead, opt for legitimate providers that proudly show proof of being licensed. Also, make sure that the authorities that issued that license are top tier (FCA, BaFin, CySEC, ASIC, etc.). OnyxTraders has nothing to do with these regulators.

So Is OnyxTraders a Decent Broker or a Scam?

OnyxTraders is an unregulated offshore trading scam. Negative reviews indicate that the broker cannot be trusted.

What Platform Does OnyxTraders Provide Access To? – Software Functionality

“Trade with ease on the web, mobile or MT5,” OnyxTraders said. The illicit broker was clever to include the industry’s best trading software (Meta Trader 5) in order to attract unsuspecting victims. However, we believe that this is just a hoax. Nevertheless, we’ll give the scammer a benefit of the doubt here.

Trading On the Web, Mobile or MT5

Maybe there actually is MT5 in there. Scammers can get their hands on this software and then inject it with malware or simply manipulate it to fool you. Mobile trading could be a bit tricky for beginners and also susceptible to manipulation. When it comes to the web platform, it’s the most plausible aspect of Onyx’s offer but these are often pretty lackluster and unpolished.

That’s why you should find a provider that offers MT5 or even MT4 but is also regulated and guarantees the legitimacy of the software.

Using a Promo Code

Uh-oh! Here’s where it gets devious. A promo code? Seriously?! This can mean only one thing – OnyxTraders is very selective when it comes to clients and only the chosen few will get the code to fall into the trap.

OnyxTraders Accounts Overview

Our unscrupulous broker didn’t bother coming up with a couple of account types. That’s why it set the minimum deposit as high as $1,500. Obviously, this is the amount it craves from potential victims. Furthermore, there’s no mention of a demo account.

Why Isn’t There A Demo Version?

Since OnyxTraders carefully selects its clients, there’s no need for the scammer to include a demo account. Nowhere in this world will you find a legitimate broker that has omitted a demo account. This type of account is important for letting you see a part of what you get. Without it, you are left in the dark.

Bonuses 

The promo code thing is just plain wrong but do you know what else is? Bonuses! There’s a reason why most regulators banned brokers from giving away bonuses. 

These instruments of trickery put traders in unenviable positions where they are prevented from withdrawing money. Bonuses always preceded vexing clauses that make withdrawals impossible.

OnyxTraders – Countries Of Service

From what we found out, OnyxTraders targets traders from the

• US
• UK
• Canada
• Spain.

Naturally, we conclude that the scammer aims for speakers of English and possibly Spanish. Could it be that the mastermind behind this scheme speaks the latter language? Since we’ve mentioned Canada, it could also imply French.

Also remember the names of the Equalpros, ProgresiveTrade and MilleniumOne trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

What Is Known About OnyxTraders’s Trading Conditions?

There is no information about spreads. We know this is worrisome but we are also not surprised. Allegedly, the leverage can be set anywhere from 1:25 to 1:500. The first level is acceptable considering that the limit regulators imposed is 1:30 (UK, EU) or 1:50 (US).

On the other hand, the other extreme is not safe at all for retail traders, especially not novices. Volatile markets are ungrateful at times and such high leverage may bring unbearable losses.

OnyxTraders Minimum Deposit and Withdrawal Terms

Without the promo code, we were unable to find out anything about deposit and withdrawal methods. All we do know is that the minimum deposit is $1,500. For such a fraudulent and shady broker, this is simply too much! There’s no doubt that once the scammer reels in its victim, it then reveals, or rather makes a deal on the payment method.

Scammed by OnyxTraders Broker? – Let Us Hear Your Story

There’s no shame in being scammed. It could’ve happened to anyone. From our experience, these con artists usually accept similar payment methods. Depending on the method you deposited your funds, there are three main ways to reverse the process – a chargeback, recall and crypto tracing.

Chargeback, Recall And Crypto Tracing?

A chargeback can reverse credit/debit card transactions. If you request it at the issuing bank within 540 days, then you’re in luck. For wire transfers, you need a recall. The only problem is that the transaction must not be completed for the recall to work. 

Crypto payments can be traced to a wallet within an exchange. Afterwards, simply request a refund from the exchange.

What Is OnyxTraders?

OnyxTraders claims to be a legitimate broker based in SVG.

Is OnyxTraders a Scam Broker?

OnyxTraders is a scam broker because it is anonymous, dishonest and violated many regulatory rules.

Is OnyxTraders Available in the United States or the UK?

The broker is available to traders from both the United States and the United Kingdom.

Does OnyxTraders Offer a Demo Account?

OnyxTraders does not offer a demo account. Instead, it gives clients a promo code.

Greed and fraudulent intentions simply never sleep. Immediately after having their previous website taken down as a result of regulatory action, these criminals have hopped onto another one.

Read all about how we exposed this scheme in the following CBEX review.

Anonymous Domain

It is not entirely clear which company owns and operates the CBEX crypto portal. Since the website itself doesn’t disclose any relevant information about the business, we explored legal documents.

There’s only one place in these papers where it says that Belize has court jurisdiction. IFSC, the main regulatory body in that country, has published a paper warning potential investors that digital asset trading is still largely unregulated in many parts of the country. The public statement accentuates the risks that come from investing with service providers whose regulation can’t be verified. Furthermore, this company isn’t even listed as a regulated service provider in the database of licensees overseen by IFSC.

Regulatory Action Against Frauds

Apparently, this company doesn’t own just one domain or run only one fraudulent scheme. In April 2024, the Hong Kong regulatory authority, SFC, published a warning against the entire CBEX group and their cbexokl.com domain in particular. 

The alert was immediately reposted by IOSCO. This particular site is now inactive, which explains why cbex.cx was registered in June 2024 and right after the previous domain was shut down.

It appears that this crypto provider is notorious for its illicit activities, regardless of which domain is currently its main focus.

Incredible Number of Promoters

Fake firms like this one or TradeCenterFX can’t really put an ad in the newspaper to attract clients. So, they use various underhanded methods to gain traction. In this case, CBEX boiler room takes the second stage to the word of mouth.

The idea of an infallible AI trading platform has proliferated through fake CBEX reviews on platforms like TrustPilot, or fake promoters on Facebook, X, TikTok, Binance, and other social networks.

Reddit users have created several boards warning the public about this dangerous Ponzi scheme. Remember, although the schemers may allow some withdrawals, you will never get your entire investment back. For help with asset recovery, contact our legal team.

Areas of Activity

It doesn’t seem like the CBEX scam has any special affinity towards one area or country. What matters to these miscreants is to reach and deceive as many people as possible while obtaining profit in the process. 

According to the number of complaints, traders from the following countries have been targeted most:

• Japan
• Mexico
• United Kingdom
• France

Whether you reside in any of the aforementioned nations or not, it is high time to contact us and get help with fund recovery in case you’ve already deposited funds with these cons.

Restrictions on Signup

This portal also only allows newcomers with invitation codes to sign up, which is characteristic of a Ponzi scheme. Swindlers often impose this condition on the registration procedure to control who enters their platform. Since the scheme primarily defrauds clients based on affiliate scams and referral bonuses, it’s no wonder that only those with the special code are able to register.

Nothing is displayed on the site regarding particular account types, and no Demo is even mentioned.

Shady Platform Download

If you want to get a hold of the CBEX trading platform, you can’t do it the standard way and from the popular app stores like Google or Apple. As a matter of fact, the app is hosted on an anonymous third-party website and you are expected to trust a totally anonymous source. 

Naturally, this is something we would never recommend you do, especially if you don’t want the cons to get a chance to access your personal information and assets.

Zero Disclosure on Costs

One way to steal from clients is to charge abnormal sums for minor services. Landson Financial Holding is known for this, but it can’t be done if the client actually understands the billing structure.

For this reason, many of these fraudulent entities hide their trading prices. You won’t find any information about spreads, swaps, commissions, taker and maker fees, or anything else for that matter. The only thing mentioned in the Service Agreement document is a compensation fee. Apparently, if the client violates the agreement, they are instantly billed $2 million + additional expenses.

Concealed Withdrawal Terms

Not much is known about the monetary transactions on this terminal. Legal documents are vague and utterly uninformative. 

The only information available says that the company reserves the right to place a limit on daily payouts from time to time, whatever that means. Otherwise, transaction channels and supported methods, as well as fees and processing time are hidden.

Support Doesn’t Function

Online support is barely functional, and seems to have been hacked by a third party. This individual then proceeded to share the entire support chat history, including people’s personal ID cards and similar sensitive data.

Now, needless to say, this is not exactly something that you’d want to happen to you.

Stay Away From Shady Firms

This online crypto service is a Ponzi scheme in disguise. The people behind it will release a few payouts in order to keep the victims complacent, but otherwise all of the money is just stolen.

Do not allow these schemers to do as they like! Contact our legal experts today and start your recovery procedure. You may book a free consultation with our team at any time by using the live chat we’ve provided on our site.

FAQ Section

Who is Behind CBEX?

The owners of the platform are not known, but it is suspected that the business currently operates out of Belize under the name of CBEX Group.

Can I Recover The Stolen Cryptos?

Cryptocurrency recovery is best left to professionals. Our team can help, so book a free consultation through the live chat option on this site.

FutureProfit’s website gives vague statements and incorrect information. Therefore, we decided to check and discover the truth. 

Before depositing your hard-earned money with this platform, ensure to read our detailed FutureProfit review. It’ll help you make the big decision.

How Safe Is It to Start Investing and Trading with FutureProfit?

FutureProfit is allegedly based in London, UK, according to its home page. Yet, the Terms and Conditions indicate that the owner is FutureProfit EU Limited, with headquarters in Ireland. This scheme firm went one step further, claiming to be licensed by the Irish Central Bank. They claim to fall under the Irish Compensation Scheme and that clients are fully protected. 

Since this type of information is easy to verify, we searched through the Central Bank of Ireland register. As expected, FutureProfit EU Limited is nowhere to be found. Just in case, we searched the FCA databases as well. The outcome was the same.

Additionally, we strongly advise you to avoid the fraudulent brokers EuroInvestec, Novelis Capital, and Invest Kingdom.

Reasons Not to Trust an Unlicensed Broker

Unlicensed brokers are not safe. They are not participants of any compensation schemes, despite false claims made by FutureProfit. They don’t follow regulatory rules and don’t care about fund safety. Their utmost goal is extorting as much money as possible and disappearing.

​​Is FutureProfit a Legit Broker or a Scam?

FutureProfit trading platform falsely claims to be based in Ireland and regulated by the Irish Central Bank. Negative reviews and low customer index indicate that you should stay away from this fraudster.

What Do Traders Think Of FutureProfit?

FutureProfit falsely presents itself as an Irish-based firm under CBI regulation. Therefore, they hooked on numerous victims eager to invest in the Forex and CFD markets. 

Once customers paid the initial deposit, this phony broker ensured to manipulate market prices and show them constant profit. Yet, when they submitted withdrawal requests, their trading accounts were frozen.

If you recognize yourself in this story, it’s important to file a complaint immediately.

FutureProfit Trading Platforms – Available Trade Software

Like many fraudulent brokers, this one also claims to offer a state-of-the-art trading platform. In reality, you will get access to an oversimplified WebTrader. It has basic functions – several charts and indicators, trading history, and asset overview.

If you want to apply any advanced trading strategies or use more features, we advise you to check out MetaTrader. It set its place as the best and most used software due to advanced functionalities such as social and automated trading.

FutureProfit Accounts Overview

If you’re still interested in FutureProfit despite their false license claims, here’s an account type overview.

1. Basic – $250, limited account manager assistance, leverage 1:5
2. Silver – $10,001, full consultation available, leverage 1:25
3. Gold – $20,001, personalized account manager, leverage 1:50
4. Platinum – $100,001, specialized account manager, leverage 1:100
5. Diamond – Invitation Only, dedicated account manager, leverage 1:300

Besides the leverage and assistance, accounts differ in the number of trading signals, withdrawal time, and access to VIP trading rooms.

FutureProfit Broker – Countries Of Service

Our research has shown that FutureProfit mainly operates in:

• Italy
• UK
• US
• Albania

Besides, we’ve seen ads placed all over the globe since the firm is unregulated and not limited by license restrictions.

Also, avoid the trading frauds BullGeko, Fx24trade, and Aax at all costs! Moreover, before investing, always look into the past of internet trading firms!

FutureProfit Range of Trading Markets

This trading firm gives access to all the most popular markets, including:

• Forex – USD/ILS, GBP/TRY, AUD/JPY
• Commodities – palladium, natural gas, corn
• Indices – AUS200, BE20, IBEX35
• Shares – Facebook, Microsoft, Alibaba
• Cryptocurrencies – BTC, USDC, ADA

What Is Known About FutureProfit’s Trading Conditions?

When choosing a broker, one may focus on the trading conditions. Besides the license, this is an adequate indicator of the broker’s legitimacy. Spread and leverage are the main conditions, and for the latest one, all the major regulators have a cap. Thus, by glancing at the leverage limit, you can already assess the firm.

About Leverage and Spreads

With FutureProfit, the leverage ranges from 1:5 to 1:300. While the initial level is way under the regulatory cap, the highest level is way past it. Both CBI and FCA have a leverage cap of 1:30, indicating that FutureProfit can’t be licensed.

The spread stands at 2 pips for EUR/USD pair. With the industry average being 1.5 pips, we learned that this broker is pricey.

FutureProfit Minimum Deposit and Unfavorable Withdrawal Terms

FutureProfit requires a minimum deposit of $250. It’s higher than most licensed brokers demand, with the average being $100.

As per withdrawals, this broker says that the balance on the clients’ accounts is a gross amount, and the firm will deduct taxes from it. Tax authorities are charging taxes independently, and the brokerage can’t pay them for you. So, the red flag again.

Additionally, a clause states that if you use any payment method other than credit cards and bank transfers, you’re bound by rules of service “including, but not limited to fees and other restrictions.”

Methods of Making a Deposit

The broker allows deposits using:

• Debit/credit cards
• Wire transfer
• Unspecified alternative payment methods

If you decide to invest, we advise using your credit card, as you’re protected by chargeback policies.

Scammed by FutureProfit Broker? – Let Us Hear Your Story

If you’re scammed by FutureProfit, let us know. Our chargeback experts are ready to evaluate your case and help. Don’t let scammers run free. Contact us now to book a free consultation, and let’s fight for what’s rightfully yours.

But What Is A Chargeback?

A chargeback is a bank method of recovering funds directly from the merchant. Since the procedure requires knowledge of various banking systems, we advise you seek help. Contact us immediately, and we’ll assist you as best as possible.

What Is FutureProfit?

FutureProfit is an online trading firm falsely claiming to be based and regulated in Ireland.

Is FutureProfit a Scam Broker?

FutureProfit is a scam broker that provided us with fake legal jurisdiction and a false owner.

Is FutureProfit Available in the United States or the UK?

The broker operates unregulated in both of these countries.

Does FutureProfit Offer a Demo Account?

No, FutureProfit doesn’t offer a Demo account and pressures customers to invest on the spot.