Despite holding a UK domain, EuroMTS has nothing to do with this country or a Tier1 regulation. We’ve done thorough research on the broker and uncovered it all for you.

So, read our EuroMTS review, and you will see why we don’t recommend you to have anything to do with this offshore scam.

EuroMTS Regulation and Security Details

EuroMTS is a brand of Dzikanta Limited from Saint Vincent and the Grenadines. Since this particular offshore country has no regulator, it means our broker is not regulated whatsoever. SVG had a regulator, FSA, that decided to register companies and leave them to opt for the regulation in the country of service. Practically, it means that EuroMTS should be a Tier1 regulated company. However, they never even applied for such. Beware of the EuroMTS scam.

Fund Withdrawal Issues with EuroMTS Broker

Since we have no official regulator behind EuroMTS, the broker doesn’t feel obligated to let clients withdraw their funds. Many new companies established during 2020 were founded with one goal – stealing as much money as possible and disappearing. Using the Covid-19 pandemic and people’s need for additional income, these fraudsters don’t choose tools for a scam, including purchasing a UK domain and lying about regulations.

If you have been involved with EuroMTS and cannot withdraw your funds, contact us for a chargeback.

Traders About EuroMTS Scam

Besides the above-mentioned withdrawal issues, clients complain about support not assisting them properly, web traders with lots of lags, and suspended accounts. Once you decide to submit a withdrawal request, a broker might suspend your access to a trading account, so you will not be able to see your virtual money disappearing.

So, please, avoid EuroMTS forex broker and similar brokers such as CFDAdvanced, Acceptrade and Konano.

How To Know If You Have Been Scammed Online?

Besides apparent signs, such as problems with withdrawals and account suspension, you may experience some other issues. For example, we’ve received several complaints related to EuroMTS account managers. Apparently, these account managers give lousy trading advice on purpose when a client submits a withdrawal request. If you had a previous reasonable success rate, of course, you would trust your broker one more time, and this time, you will lose everything.

Beware of the EuroMTS scam and contact us immediately if you notice anything suspicious.

Scammed by EuroMTS?

If you were scammed by EuroMTS, contact us for assistance. We’ve helped many in your situation. Since the broker accepts payments via debit/credit card, you have the option to file a dispute and request a chargeback.

But What Is A Chargeback?

A chargeback is a way for your bank to reverse a fraudulent transaction if you can provide sufficient evidence. This is where help from a chargeback expert can come in handy. Instead of wasting your time and trying to do everything on your own, contact our support via online chat and book your free consultation. Tell us your story, and let’s find your money-back solution now!

What is EuroMTS?

Basically, this is an online trading brokerage without financial regulations based offshore.

Is EuroMTS a scam broker?

Company got itself a UK domain in an attempt to present itself as a legit brokerage, while it’s just an offshore company with no regulation.

Is EuroMTS regulated?

No, EuroMTS is based in Saint Vincent and the Grenadines and is not regulated by any authority body.

TradeBaionics is an unregulated brokerage. The firm has changed several domains so far after being blacklisted in Italy. From where we stand, it’s pretty evident that the trading firm is fraudulent.

However, let’s elaborate more on it in this detailed TradeBaionics review.

Is TradeBaionics a Licensed Broker?

TradeBaionics is an anonymous trading firm. The Terms and Conditions don’t reveal any details about the company owner, headquarters, or similar. Since this is the case, we’re unsure under which regulatory jurisdiction the firm should belong. 

Upon checking with the FCA, ASIC, BaFin, and other Tier1 regulators, we’ve determined that the firm is unlicensed. 

Also, we recommend you not to invest in the fraudulent brokers Supreme Capital, HubbleBIT and ETHProfits.

How Unsafe Is An Unlicensed Broker?

Unlicensed brokers are not safe. You have no money-back guarantee, and the broker can vanish anytime. You have nothing to do if it happens, like with TradeBaionics’ old domains. No regulator will help you get your money back, and you have nowhere to file a complaint.

Well Is TradeBaionics a Reliable Broker?

TradeBaionics is a fraudulent broker that frequently changes domains. The firm is unregulated and doesn’t provide information regarding headquarters. It’s on Italian trading blacklist.

TradeBaionics Warning From the Italian Regulator CONSOB

TradeBaionics was exposed as a trading scam by the Italian regulator, CONSOB. This authority body added tradebaionics.io to the list of fraudulent domains. Once it happened, the broker simply opened a new domain and started claiming the banned one was by the competition.

Don’t trust anything you hear from the TradeBaionics broker. Yes, it’s a scam, and CONSOB proved it.

Traders’ Experience With TradeBaionics

Traders are not entirely happy with their experience. As you can imagine, numerous negative reviews exist, especially from those who had an account blocked once the broker changed the domain.

Basically, these people are no longer able to access their funds. If you’re one of them, get recovery help right away.

What Platforms Does Broker Offer? – Trade Software

TradeBaionics offers a proprietary WebTrader. The company listed MT4, MT5, and web-based software as available, but once you register your account, you’ll be able to access only one of them. It’s a basic TradingView chart with several indicators.

Don’t let TradeBaionics fool you. There’s no reputable software. 

App For The Mobile Trader

Of course, since there’s no MetaTrader, there’s no mobile app either. Both Android and iOS users will have to use their web browsers to access the platform.

All About TradeBaionics Accounts

Broker doesn’t give us any trading accounts. The firm advertises accounts designated for every trader yet doesn’t specify anything. The only thing we’re given in the Account Types section is a minimum deposit of $500. Quite a lack of basic details.

Does the Broker Use SSL? – Secure Socket Layer

SSL or Security Socket Layer is meant to be used as a safety measure. If a website has a certificate, it implies that your personal information, including passwords and credit card numbers, is safe. While TradeBaionics has SSL, it also has a proprietary platform.

Basically, the firm can access your funds and trades directly through the platform and manipulate your winnings and losses according to their needs. 

Thus, SSL is worthless with innovative scammers.

CFD Trading With TradeBaionics

The broker advertises its platform as a powerful CFD trading tool. CFDs are risky trading assets since you’re not buying an actual instrument. You’re buying a virtual contract against the brokerage or their liquidity providers. If the asset’s price goes opposite to your intentions, you may lose everything you invested.

Therefore, proper tools and market analysis are of utmost importance, which you won’t get with TradeBaionics.

TradeBaionics Broker – Countries Of Service

As per our review, the TradeBaionics trading scam is mainly active in:

• Italy
• Canada
• UK
• Spain
• Australia

Also remember the names of the Capartners LTD, CFD Capital and Weltex trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

Range of Trading Instruments & Markets

Customers can invest in:

• Currency pairs – EUR/USD, GBP/USD, CAD/AUD
• Commodities – gold, oil, silver
• Indices – Dow Jones, DAX30, FTSE100
• Shares – Amazon, Google, Tesla
• Cryptocurrencies – BTC, XRP, ETH

What Trading Terms TradeBaionics Provide?

TradeBaionics offers its own trading terms that significantly differ from those allowed by regulations.

Minimum Investment Amount

The minimum investment is not really clear. On the main page, customers are led to believe that they can invest $250. The Account Types section indicates that you will need $500 to start trading. Yet, once you register an account, you’ll be approached to invest $10,000. 

About Leverage

The leverage is not regulated and goes up to 1:200. Legitimate brokers follow strict rules allowing leverage of 1:30 or 1:50, depending on the regulatory body. This limit is there for risk management purposes. However, TradeBaionics doesn’t care about your risks. 

TradeBaionics Deposit, Withdrawal Methods, And Fees

The broker listed the following payment methods:

• Debit/credit cards
• Wire transfers
• E-wallets

The minimum withdrawal amount is $100, but there’s no withdrawal time. In addition, fees are nowhere to be found.

Educational Features

The company offers the following educational features:

• Webinars
• Seminars
• E-books
• Glossary
• 1-on-1 training

However, this is all just a lure. Once you deposit the funds, you’ll be pressured to invest more without knowing what you’re doing. The less you know, the more they can exploit you.

Scammed by TradeBaionics Broker? – Let Us Hear Your Story

If you or someone close to you was scammed by a TradeBaionics broker, it’s time to seek help. We’re here to assist you with the chargeback process and help you get a refund.

But What Is A Chargeback?

This is a way for your bank to recover funds directly from the merchant. Contact us via online chat to book a free consultation and let’s examine your case in detail.

What Is TradeBaionics?

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

Is TradeBaionics a Scam Broker?

Yes, TradeBaionics is a scheme firm exposed by the Italian regulator CONSOB.

Is TradeBaionics Available in the United States or the UK?

The broker is available in the UK but doesn’t operate in the US.

Does TradeBaionics Offer a Demo Account?

Yes, there’s a free Demo account serving as a lure to hook you up to invest real funds.

IS6 com is a scam brokerage website with default language being Japanese, registration in Saint Vincent and the Grenadines and their physical office in the Philippines and Vietnam! Such diversity is nothing new for companies who try to keep their anonymity at any cost. When it comes to licenses, on the other hand, they own none. 

What is the most disturbing is their world-wide coverage and the ability to reach just about any victim they set their sights on. So read the following IS6 com review carefully, so you can learn how to detect this sort of scam and protect your funds in time.

Lacking Licenses

The search for the IS6 com license had to start where the headquarters of the firm are. SVGFSA doesn’t regulate brokers, but IS6 Technologies Ltd is incorporated in the SVG under the company number of 26536, since 2021. That still doesn’t mean they’re licensed. INVcenter is another firm that is based on the same pattern. 

Next, the location of their official office is said to be in the Philippines. The financial institution regulating the securities markets participants there is The Securities and Exchange Commission, which doesn’t have IS6 com as a regulated entity listed in their register. 

Next to search was the database of SBV – the financial regulator of the Vietnamese jurisdiction. Alas, IS6 wasn’t licensed by them either! 

Finally, we also searched the JFSA register since the site’s default language is Japanese, but the search yielded no results. Not a single financial entity has regulated this scam company you should definitely be careful of!

Victims’ Locations

As hinted in the introduction, one of the most terrifying aspects of IS6 com is their effectiveness. The worldwide coverage is indisputable and the victims are many. Take a look at the countries where most of the victims live:

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

The ability to reach so many diverse potential clients is ensured through beating the language barrier and then by employing the most talented, talkative and charming boiler room agents. These are so skilled in convincing people to invest that there’s hardly a way to get past them. 

Key to avoiding being scammed is rejecting any offers that sound particularly good and lucrative – especially if they require little to no effort. However, even in case of getting scammed, a solution exists – contact our legal support team for advice and help on the matter.

Trading Costs and Other Taxes

Let’s start with the hallmarks of scam – the leverage offered at IS6 com goes up to 1:1000, which is absolutely insane. The spreads didn’t leave us amazed either – the starting cost for EUR/USD is 1.6 pips. The website gives different costs than the platforms. These values are higher than what most regulated brokers offer nowadays anyway. 

However, the software keeps changing the parameters randomly, until at some point it shows spreads of up to 30 pips on EUR/USD! This suggests the broker messing with the values and prices to purposely make clients lose, so do not invest here.

Bonuses As Secrets

Bonus amounts are rewarded according to the account type you choose. The shady brokerage, however, doesn’t reveal what those amounts are. Also, they force you to accept their Bonus Terms and Conditions, without even letting you get familiar with the particularities first! 

Very characteristic for offshore brokers – PrimoTrade being another one of them. 

Trading Tools and Options

The IS6 com scam is well thought-through. Trading platforms available are the unquestionably leading software in the industry – MT4 and MT5. As an addition, account types are many and they vary in offer, however fictive it is, it is still made fairly rich. 

Lastly, the broker has made several groups of the most popular financial instruments groups available for trading. But let’s explore each aspect of the offer separately.  

Trading Platforms – MT4 and MT5

There’s hardly anything left to say about these remarkable platforms that we’ve not mentioned in the previous reviews. The reliability, comprehensiveness but also complexity and customizability they offer is limitless. The unfortunate circumstance is that they’re provided by an unlicensed broker, so their original purpose is defeated. 

Mobile Apps Present

It was quite smart for the IS6 com platform to also have MT4 and MT5 as mobile apps. Boosting their credibility and professionalism significantly, these apps are customized for the Apple and Android users. Clever way to make unsuspecting victims interested even more.

Tradable Asset Groups

Conveniently enough, the broker enables you to buy and sell all of the most popular financial products on the market. Take a look:

• Forex (EUR/USD, EUR/GBP, GBP/AUD, NZD/CAD, USD/CHF)
• Precious Metals (Silver, Gold)
• Indexes (DAX, HK50, JP225, NASDAQ, SP500)
• Energies (Brent and WITI)
• Stocks (Baidu, Coca-Cola, Google, GameStop, XPeng, Zoom)
• Crypto (BNB, BTC, BCH, DOGE, ADA, DOT, XRP, ZEC, EOS)

Many Account Options

IS6 com account types differ in the amount of cash they require, and some particular options like maximum leverage and bonuses. The confusing element considering investing is that all the account prices are given in Japanese Yen:

• Micro Account – ¥5,000 (~$35)
• Standard account – ¥5,000
• pro zero account – ¥20,000
• 6,000:1 leverage account – ¥5,000
• EX account – ¥5,000
• Kureptor account – ¥5,000

Risk-Free Trading

Unlicensed companies are known for not allowing traders to explore the trading circumstances and environment as a whole. It was quite surprising that IS6 com allows trial trading with a virtual margin of up to $500 000. Don’t rush into believing their artificial conditions, though- they’re designed to attract you to invest!

IS6 com Withdrawals

Withdrawal methods the broker enables are bank transfers and several crypto currencies. The minimum IS6 com withdrawal amount for bank transfer is 50 USD or 0.001 BTC. Processing time is claimed to be only 1 to 3 business days, which is a bit unrealistic. Especially for illicit brokers that are prone to postponing, delaying and completely rejecting requests. 

If that happens to you as well, please make haste and contact our legal team instantaneously!

Customer Support – Anyone There?

We can’t tell if communication with the IS6 com support is plausible at all. The automated emails upon signing up came immediately, but that is all we ever got from the broker. It seems like the fill-in form is the only way to directly address the customer service. Naturally, as any other clever fraudster does, IS6 enables Telegram and LINE communication. 

IS6 cm Review – Summary

Although offshore located and completely illicit, this brokerage brand has invested a lot into designing their offer to seem rich and credible. That shouldn’t convince you to invest with them – they still lack regulations. 

Troubles with dealing with unregulated platforms come in many forms. Luckily for you, we’re able to address them all and offer you the proper legal support you need in solving them. On top of that, we do not charge the first consultation – contact us today!

FAQ Section

What Is IS6 com?

IS6 com is an illicit offshore broker without a proper license or regulation.

What Is The Maximum Leverage Of IS6 com?

The maximum leverage with IS6 com is astonishing 1:6000!

Where Is IS6 com Located?

Company itself is registered in SVG, while the company’s physical address is claimed to be in the Philippines and Vietnam.

At first, this website seemed like it belonged to a shady offshore provider. However, upon noticing a London address, we were on greater alert. Turns out we got an anonymous financial swindler on our hands. Read more about this fraudster’s misdeeds in the STB Markets Review.

On top of that, we seriously recommend you not to invest in the fake brokers RXK Capital, BN93, and TBanque. Do not trade with these unlicensed brokers if you want to save your money!

STB Markets – A Fraudulent CFD Broker Without A License?

That’s correct. Since the fraudulent broker didn’t reveal who runs the whole business, we only had the UK address and phone number to start with. It made it easy for us. 

All we had to do was check the register of the UK’s Financial Conduct Authority (FCA), a strict and demanding regulator that oversees all financial market activities in the country. Here’s what we found – there’s no STB Markets in the database.

By the way, this London International Bank ltd has nothing to do with our little con artist. The address and reference number are different. The company is unauthorized anyway. To sum up, not only is STB Markets anonymous, but it’s also unlicensed!

STB Markets is an anonymous scam broker that claims to provide Forex, CFD and crypto trading. The fraudster mainly engages in fraud in the UK, France, Canada, Belgium, France and Australia.

Why Is It Safer To Choose Regulated Brokers?

Here are the demands set by the FCA that brokers have to meet in order to operate in the UK:

• Minimum operating capital of 730,000 GBP;
• Negative balance protection;
• Segregated funds in a top-tier bank;
• Leverage restriction for retail clients (1:30);
• Transaction reporting;
• Compensation scheme in case of bankruptcy (up to 85,000 GBP).

That sounds awesome. Quite the conditions you’d want to have when investing & trading. Of course, you can forget about all of it if you trust the unlicensed STB Markets.

A Warning Issued by the CSA

To put the final nail in STB Markets’ coffin, we shall post the warning issued by the Canadian Securities Administrators against this unscrupulous broker. Have fun bailing out of this one, STB Markets.

It’s great that at least one regulator reacted to this foul scheme. We hope our review and similar ones will raise awareness and help stop this scammer.

Bonuses And a Fraudulent Scheme

As is the case with most illicit providers, there are bonuses available. We must stress that reputable regulators such as the FCA banned bonuses a while ago. Precisely because scammers always use them as pretexts to prevent clients from making withdrawals.

When a broker issues an appealing bonus, there’s always a shady clause in there that sets an unrealistic condition for traders that they have to fulfill before withdrawing. Namely, this is usually an insane trading volume requirement that involves the bonus.

In other words, you lose all your profits up to that point. We also believe that the phony broker won’t allow you to withdraw even the initial deposit.

What Platforms Does STB Markets Offer? – Available Trade Software

STB Markets devoted an entire page to describing and promoting its platform, but it’s nothing more than a WebTrader. This is an oversimplified browser-based platform devoid of any advanced features. It only offers some basic charts and TA indicators.

While it may be good for absolute beginners, it just won’t cut it later on. For a great trading experience, you’ll need Meta Trader 4 or Meta Trader 5 as well as a licensed broker.

STB Markets Range Investment Opportunities – Trading Instruments

When it comes to trading assets and instruments, STB Markets did its homework and provided quite a wide range. But, since there’s no demo account, we weren’t able to confirm it. Nevertheless, here’s an overview of the instruments:

• Forex currency pairs – EUR/USD, GBP/CHF, AUD/JPY…
• Indices – S&P500, UK100, NIKKEI225…
• Commodities – coffee, crude oil, natural gas…
• Metals – gold, silver, platinum…
• Stocks – Samsung, Netflix, L’Oreal…
• Crypto – BTC/USD, ETH/USD, XAU/USD…
• NFTs – CoolCats, Meebits, PUNKS Comic…

STB Markets Fraud Risk Zones – Service Countries

We did our research to find out where this terrible scammer looks for potential victims. Here’s a list of countries where STB Markets left its trace:

• The UK;
• Australia;
• Canada;
• Belgium;
• France.

On similarweb.com, we found that the activity on the website spiked in October 2022 with a total of 16,100 visits. Aside from Canada and Belgium, most of the clicks came from Bulgaria (35.05%). 

In addition to the above, we strongly advise you not to invest in MarketsBank, RacFX and VirtusCapital fraudulent brokers.

Luckily, the CSA issued a warning against STB Markets and we hope other regulators will do so too.

What Do We Know About STB Markets Account Types?

Here’s an overview of the available account types at STB Markets:

• Main – 0 $;
• Bronze – 2,500 $;
• Silver – 10,000 $;
• Gold – 25,000 $;
• Platinum – 50,000 $;
• VIP – 100,000 $.

Red flag alert – it seems that the main account is free, but in the FAQ section, STB Markets says that the minimum deposit is 250 $ after all. So, the main account isn’t actually a demo account, there’s no such thing on the website.

All we found was a promo code option in the registration menu, which the scammer sends to clients it considers suitable to be defrauded. 

As for the trading conditions, leverage is fixed at 1:100, which is not in line with the legal limit of 1:30 for FX major pairs. 

The spreads for the benchmark EUR/USD pair start from 0.4 pips. That’s great but matters little at this point. Despite the broker claiming that there are no commissions, and we don’t rule out that STB Markets charges a lot.

STB Markets Payment Methods

This is where the scam kind of unfolds. STB Markets accepts only payments in Bitcoin. This didn’t surprise us since scammers prefer crypto transactions. It enables them to remain anonymous even if the payment is traced to their wallet.

Allegedly, withdrawals take from two to seven business days, but the aforementioned bonus policy is there to prevent them. All that we have outlined in this review reeks of a scam.

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

Your experience will help us a lot. We could warn more regulators and finally put an end to this foul plot. But don’t worry if you’ve been scammed, we won’t leave you stranded. It would be our pleasure to help you get a refund.

What Is the Chargeback Procedure?

Since STB Markets accepts payments only via Bitcoin, it’s impossible to determine the scammer’s identity. However, it is possible to trace the transaction to the crypto wallet within an exchange.

Once that’s done, you can request a refund from the exchange and hope for the best. Please, give us a call and we’ll hook you up with a team of experts that will assist you.

Here you can book a free consultation and find out what to do for a start.

What Is STB Markets?

STB Markets is an anonymous scam broker that allegedly offers Forex, CFD and crypto trading.

Is STB Markets a Scam Broker?

Yes. The fraudulent broker is not transparent and has been blacklisted by the Canadian Securities Administrators.

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

The shady broker accepts clients from the United Kingdom but not those from the United States.

Does STB Markets Offer a Demo Account?

No. There’s no demo account available. The fraudster offers a promo code to traders it considers potential victims.

Coin2FX is a highly untransparent broker. The broker is under the parent company Smart Trade and Investment LTD. This company claims to have their main offices in London, England. This would require them to register with the FCA, but they haven’t. In fact, they don’t have a license from any regulator. Because of this, they have no authorization to provide the CFDs and forex investments that they offer.

FCA Warning on Coin2FX

Coin2FX, balanced against binary options broker Binatex, is similarin some ways. Both brokers have a standing warning from the UK’s FCA. The FCA warning against the broker came in September 2020. The regulator states that the broker has no authorization to provide financial services within the UK, despite their claim to have their headquarters there.

Traders Claim Major Issues With Broker

Former clients of the broker seem to be very dissatisfied with their time there. Afterward, many of them have left scathing Coin2FX reviews on online review sites. They claim they’ve been had by the blatant Coin2FX scam. The former customers say they were constantly pushed to deposit more and more and faced technical and verification issues when trying to make any withdrawal.

Trading With Coin2FX

The broker has a decent selection, over 200 financial instruments in all. Their forex choices are certainly decent, with 23 pairs, some of them are exotic. There is a strong emphasis on cryptocurrency CFDs, with many minor coins available, in addition to the standard Bitcoin and Ethereum. Of course, their CFD selection also covers commodities, stocks, and so on.

Big Bonuses Go Nowhere

Like many other unregulated brokers, Coin2FX offers deposit bonuses. These bonuses top up a trader’s account by some percentage, based on the size of the deposit. Unfortunately, traders won’t be able to withdraw those funds. The terms of the bonus are such that they have to be traded over and over until nothing is likely to remain. Beyond this, the broker also has a 10% withdrawal fee on funds that aren’t traded enough, even funds you deposit yourself.

Get Your Money Back From Unregulated Brokers

The FCA doesn’t issue their warnings lightly. Brokers should listen to them and put their money in the hands of a reliable and regulated broker. In light of tempting deposit bonus offers, some traders decide to go with an unregulated broker. Because there’s no oversight, the brokers can do as they please. Get your money out of their hands immediately. Contact us to start your chargeback today.

Every single word of this River Prime review should be taken as a warning against a scammer with a tradition of claiming to be regulated to deceive clients. The SVG incorporated firm – River Prime Ltd is the parent company of a broker with the same name. While they’re indeed registered with SVGFSA, their brokerage brand has no way of being licensed by this financial authority. We’ll explain the reasons for this a bit later.
Various offices around the world, top-notch software, and super helpful support team are all the ways River Prime advertises their sham. Read this review thoroughly to learn their vicious methods and how to protect yourself.    

Is River Prime a Scam Broker?

Do not be fooled by the fact that River Prime is registered with SVGFSA. There’s a single most important fact about this authority. The institution has altogether stopped regulating brokers in the area. Because of such circumstances, fake brokerage companies are opened back and forth as we speak. 

No body overseeing their activities and they can engage in kinds of unscrupulous projects. River Prime tries to build a false image of a regulated broker by advertising their registration here. But that carries little value in the whole regulation and legitimacy aspect. 

The regulations page at the River Prime also mentions LFSA in Libuan but isn’t clear on the license concept. They’re only saying that LFSA means Labuan Financial Services Authority. We looked through that register as well, but it contained no info on River Prime. 

River Prime also allegedly has offices in Dubai and Jordan. Financial authorities in these jurisdictions are DFSA and JSC but neither of them know anything about River Prime. 

In addition to these facts, we’ve also checked with some Tier 1 registers, including FCA, BaFin, ASIC, CySEC and CONSOB. River Prime is completely unknown to all these regulators. Despite all that, and the obvious lack of license, they provide financial services worldwide. All that while not installing segregated bank accounts, leverage limit to 1:30 and 1:50 and without implementing negative balance protection and compensation funds. 

If we consider the actual trading environment at River Prime, it’s fully risky and unsafe. From leverage bordering insanity at 1:400 to no secured funds storing and exposure to becoming indebted quickly, River Prime is unsafe and untrustworthy to the core!

River Prime Platforms – A Software Comparison

Atypical for con artists, River Prime actually offers you trading on MT5. The platform is supported on PC, mobile and web. MT5 is the most widely used and advanced technological solution in the Forex world. Such richness in features, ease of access and comprehensiveness and unparalleled speed are unique in the industry and MT5 rules over all other platforms. 

But don’t have your hopes up just yet. What River Prime actually does is direct you to download the Demo version of the software directly from the developers website. 

In all honesty, this is something any of us can do on their own. Why would we need some anonymous broker like River Prime linking us? That’s because the broker itself doesn’t have their own proprietary trading server. This further solidifies our claims about them being completely unregulated.  

What Financial Instruments Does The Platform Include?

The list of tradable asset groups at River Prime isn’t all that breathtaking. Rather unappealing and poorly assembled, the offer of tradable instruments is limited to only a few categories. The offer of financial instruments at River Prime reminds us of another scam broker – Atomic Trade. Nonetheless, here is how the list goes:

• Forex (EUR/USD, AUD/USD, CHF/JPY, EUR/NZD)
• Indices (UK100, JPN225, ES35, DE40, FR40)
• Shares (Facebook, Tesla, BMW, Barclays, Bayer, Tesco)
• Commodities (Sugar, Silver, Corn, Wheat, Gold, Copper, Coffee)

River Prime Countries Of Service

Completely disregarding the fact they lack a license, River Prime doesn’t shy away from forcing their services on unsuspecting victims. These targets come from the furthest corners of the world. Some traders are from heavier and some from more loosely regulated areas. That should be proof enough of how cunning this particular fraudster is. Here are the countries where River Prime mostly operates:

• United States
• Argentina
• United Kingdom
• Germany
• Canada

Account Options Offered by River Prime

If River Prime indeed provided the services they promise, we’d be impressed by their offer of trading accounts. The number of packages isn’t high, but each account is well-equipped and customized for specific profiles of traders.

It’s a damn shame this broker is an unlicensed financial predator instead of an honest and transparent services provider. Even the features given on that page explaining account types are most probably completely illusory. Either way, we present you their offer as follows:

• Pro – $20
• Prime – $250
• Premium – $3 000

Can a Trader Use a Demo Account?

Every trader is appreciative of a broker that allows Demo trading. It’s tremendously important for examining the general trading environment and conditions. 

Although, with scam brokerages like this one, even a Demo account presents unrealistic trading parameters. It serves as an outward bait for attracting more innocent victims like moths to the flame. River Prime does give you a virtual amount of $10 000 to trade for a trial period on MT5. Alluring, isn’t it? But beware. Everything looking too good yet coming from a shady provider is not something to rush into.   

River Prime’s Partnership Programs

We’d firstly like to remind our audience that all the bonuses, promotions and special programs you see with questionable brokers have a dark side to them. They do not only exist to force you into depositing and becoming their customer. These schemes also intend on binding you by their conditions and protocols that turn you into the River Prime financial hostage. 

While they may promise and swear on extra profit, relief from paying fees and other fictitious features, they’re usually completely fake. All these swindlers want is for you to make their job easier and bring in more victims. The promotional program at River Prime includes the following:

• Social Traders – chance for beginners to advance by following advice from pros
• Introducing Brokers – crafted for entrepreneurs and corporate introducers
• Money Managers – enables MAM and PAMM fund managing
• White Label Partnership – for banks, investment firms, and financial services
• Affiliates – for digital marketers, bloggers, social media influencers

Terms of Service for River Prime 

This is the part when a sham usually exposes itself. Because they need the clients to agree to these conditions, River Prime shows their true face. The text you have to accept upon opening a real trading account is more damaging than beneficial for you. The only party taking advantage of the whole agreement is none other than River Prime. 

We always urge our readers to carefully read these conditions before agreeing to any of them. The small text at the end of the page that everyone usually leaves out without ever reading first could get you into a lot of trouble. Later when you want to reject your obligation, River Prime has evidence of you agreeing to it. So be careful what you sign and accept!

Leverage, Spreads and Fees

Seeing the leverage going up to crazy 1:400 cleared our doubts about this broker forcing clients into risky trades. Bigger leverage means greater risk, and that is exactly how River Prime fishes for profit. This exact leverage is offered at another scam site known to us – FXLeader.

Trading under such exposure could quickly rid you of your hard-earned money and send it directly to the swindler’s pocket. That’s why EEA, UK and AU have leverage capped at 1:30, while it’s 1:50 maximum in the US.

Spreads at River Prime seem about as realistic as our ability to fly. Starting from 1 pips for the cheapest account option and 0 pips for other two accounts, while commission sits at $6 or $3 is absurd beyond fairy tales. 

Withdrawing Profits From Your Broker Account

Another reassurement from River Prime comes in the form of claims about withdrawals being fee-free and lightning fast. This collides with their Terms and Conditions doc, which actually forces you to agree to pay any fees, commissions, and other taxes occurring during transactions. 

As a matter of fact, this is nothing new. It is, after all, the principal way of River Prime earning off their customers. The withdrawals are only so great and easy in theory. But the deviousness of this faux financial services provider lies in their capacity for money extortion. 

River Prime has already stated to reserve the right to charge customers any kinds of fees. The con artist will masterfully come up with just about any excuse to convince you to pay more and more until you’re completely drained. Any pretext can be enforced. The final result is you losing your entire investment and profit acquired, while the scammer counts their earnings. 

What can I do if I was scammed by River Prime?

Worry not – you’re not the first of the last victim of this complex money laundering project. We do, however, implore you to make haste and get in touch with us as soon as possible. Our team of experts has been battling such suspicious sites and brokers for a while, trust us. 

Because of the experience and knowledge on this and similar schemes, we can help you prosecute them and regain the funds they stole from you. You have every single right to react and retrieve what was unlawfully taken away. So allow us to help you by contacting us and asking for our advice on how to act further. The results you hoped for will be visible faster than you expect!

What Is River Prime?

River Prime is a SVG-based broker registered in SVG, but without a valid license anywhere in the world.

Is River Prime a Regulated Broker?

Actually, no. The firm has not been given any formal permission by a Tier 1 regulator to offer their financial services and products anywhere.

Does River Prime Have a Referral Program?

Yes, the broker has a referral program which is a part and just one option of the affiliates program that has this and a few more levels of operating.

Does River Prime Offer a Demo Account?

With MT5 and $10 000 free margin, you can choose to explore the trading environment and conditions for a limited time.

Surprisingly, this firm has announced itself as a leading provider of forex and financial services. Yet, they forgot to mention the owner of this leading company. But that’s not all of the irregularities with this firm.

Keeping an eye on the right things can keep your funds safe when it’s the most important. That’s why we suggest you read this DoubleCapitals review carefully. But also do not miss out on some extra tips in our Immediate Edge review.

Legal Info: Is DoubleCapitals Legit Or A Scam?

Since the company doesn’t reveal any legal information, especially addresses, checking their license is not that easy. However,  to be fair, they would announce it transparently if they had any. Even though they mention being regulated, the license number is not revealed.

Just in case, we were checking some Tier 1 regulatory databases., such as ASIC, BaFin, FCA, and CFTC. To sum it up, the results were disappointing. Instead of regulations, we found a warning from one of the most rigorous regulators – BaFin. We all know there’s no joking with Germans. Therefore, if you see a warning from this institution, you know it’s not issued without a reason.

Who Are DoubleCapitals’s Victims?

In general, this investment firm is mainly targeting traders on European soil. Luckily, traders are getting more and more informed and hopefully less scammed in the future. Still, traders from the following countries should take extra precautionary measures: 

• Germany
• Switzerland
• Netherlands

If you are one of those as well, share your experience with us in the comments below. Ultimately, our chargeback experts can analyze your case and present you with solutions.

Traders Reviews

In case you generally don’t trust negative reviews, here’s proof you should. After all, those negative reviews often lead to investigation and warning. In the case of DoubleCapitals broker, on Trustpilot, we can see only negative comments. In total, 9 of them.

Hopefully, you will avoid similar pitfalls in the future. But if somehow you fall for any of the swindlers’ tricks, reach out to us for advice. In the end, the first consultation is free of charge, and there’s nothing to lose.

Investment Costs With DoubleCapitals

As a huge disappointment, we discovered that traders can get below-average spreads only after they deposit 150k EUR. The starting ones are from 2.8 pips. 

In addition to that, the company is not revealing commissions, overnight swaps, or any other fees in any of the DoubleCapitals accounts, which leaves them enough space for manipulation.

On top of that, the leverage of 1:400 is not something regulated brokers would offer to retail traders. That’s one of the easiest ways to recognize scams.

Bonuses

An additional problem with DoubleCapitals broker is the welcome bonus. The catch is that any time you receive a bonus, you have to meet a certain trading volume.  That’s the amount accredited as a bonus divided by four (in standard lots). For instance, with a $200 bonus, you have to reach 50 lots or $5M.

DoubleCapitals Trading Features

Generally, the only advanced feature you can use with this brokerage is scalping. But even that is questionable considering their web trader offer. 

Besides, if you are looking for copy trading, social trading or EAs, look elsewhere on time. However, we would suggest you read our Monafoli review and check how those same features can trick you.

Trading Platform Available

The most reliable trading software solutions are cTrader and Meta Trader. With these, it’s extremely hard to manipulate any details on the platform. Which is the key issue among scam brokers.

Thus, if the company offers a web trader, such as DoubleCapitals, prepare your nerves. Such platforms are unreliable as brokers can modify anything you see, and your account can get frozen.

Available Trading Assets

Usually, tradeable assets can play a big role in choosing a broker. If the broker is missing some category, they might be losing some potential clients. Yet, DoubleCapitals has got you covered in all fields. They offer: 

• Forex – GBP/EUR, AUD/SGD
• Commodities – natural gas, palladium
• Shares – IBM, AMD
• Indices – NASDAQ, DowJones
• Cryptos – BTC, ETH

Account Types

As mentioned, account types with this company don’t reveal many trading conditions. Thus, deposit requirements are extremely high for such low transparency. Even though they aim for 12.5K for the first deposit, most likely, they will accept something lower than that. 

In any case, the options are: 

• Bronze – 12.500 EUR
• Silver – 25.000 EUR
• Gold – 75.000 EUR
• VIP Platinum – 150.000 EUR

Mobile Trading App

Unfortunately, iOS and Android apps for the company’s platform are not available. Therefore, mobile users can expect even more trouble trading with this firm.  

Demo Account

Another key disadvantage of this broker is demo account unavailability. But also platform transparency. Or lack of it if you like. Therefore, to test the company’s features, you’ll have to deposit some money first.

DoubleCapitals Withdrawal

As can be seen, the company is not charging fees for credit card withdrawals. However, it’s not specified if there will be any other methods, such as crypto. 

The shady thing is that the company is processing withdrawals within 30 days of opening the account. Another thing is the bonus that will prolong the DoubleCapitals withdrawal process.

Customer Support

Another reason not to trust this firm is its awful customer support. In fact, only e-mail and web question forms are available without clear operating hours and reply expectancy. So, you can only hope for a response.

Key Information To Consider About DoubleCapitals

The first issue is the non-existent DoubleCapitals regulation. On top of that, the company is hiding trading platform and trading costs. That’s already enough to make it clear they are not genuine. On top of that, there’s poor customer service availability, shady withdrawals, and a warning from BaFin.

Still, some traders might get caught unprepared and fall for the company’s tricks. Don’t worry, if that’s you, you are neither first nor last. But still, it’s the moment to do something about it. Get in touch with our chargeback team and find out your options.

FAQ Section

What is DoubleCapitals?

Forex and CFD trading services from unknown location and with unknown owners is something defining DoubleCapitals scam broker.

Is DoubleCapitals a Legit Broker?

Not at all. Even though the company claims to be regulated, its trading name is not found in any regulatory database.

What is a Chargeback?

Chargeback is applied on card transactions once a dispute or fraud complaint has been filed. To get started with your chargeback process, contact our team for assistance.

For a company that declares to be committed to building the world’s largest and most professional cloud computing mining platform, the Okx338 website looks incredibly poorly designed and simplistic. Nothing of what you see at okx338.com could possibly inspire you to perceive this firm as a serious company with huge turnovers. 

A number of claims on the site are trying to convince you to trust this shady financial services provider because they supposedly require no currency exchange, minimum deposit amount and provide stable income and free exit. You know, all the lies you typically hear online by every other financial swindler. Although the entry barrier to Okx338 is only 100 USDT, not even a penny is worth wasting with them. 

The supposedly US headquartered broker is actually an offshore, large-scale scam that targets English speaking natives. You can find out more about their real intentions and the malicious techniques used by reading our Okx338 review entirely.

How is Okx338 Regulated?

The OKx338 scam had some real guts when they took upon themselves the endeavor of faking a US regulated brokerage and crypto mining firm. The US market is one of the strictest in the world, with CFTC and NFA so severely overseeing the activities of brokers that there’s no room for lies and improvisation. 

Okx338 would have to have a proper regulation issued by CFTC and be an NFA member ultimately. That is easily checked because NFA keeps their members list continuously updated. And guess what? Okx338 is not on it!

All the lies that Okx338 presents about their legal status are poorly crafted fabrications that carry no weight even in their own fictitious world of trading. Okx338 claims to have a permission from the State of Utah – Department of Financial Institutions in the form of “money transmitter license”. Ridiculously bad picture editing is all they present as a proof. 

No where is it mentioned the exact company credentials so you don’t even know who they stole it from. What’s more – that financial authority is regional and it oversees the activities of banks, credit unions, industrial banks and trust companies, not brokers! CFTC is the regulatory body US brokers need the regulation from.

After doing more research we’ve come to information that is more likely to be true. The Okx338 TrustPilot profile is that of a verified company established in Suite 202, 2nd Floor, Eden Plaza, Eden Island, Victoria

Mahe, Seychelles. Now that information is more likely to be true. Being unregulated and settled offshore gives the scammer enough room for deceptive techniques and fraudulent behaviors of all kinds. 

We’ve previously discussed the regulations of similar fake brokerage brands, like Samstar Capital, for example, and the dangers of investing there are many. Okx338 doesn’t store your deposits in segregated bank accounts and separately from their own capital. That is done for the purpose of misusing your funds and stealing them the second they’re invested.

Okx338 also doesn’t implement the security measures and your transactions and personal information are unsafe when stored with this faux broker. Offshore companies of sorts are located in the gray areas for legal reasons, and Okx338 is one of them. So, do not invest here if you do not wish to lose more than just money!

Who The Clients Are And How Okx338 Reaches Them?

In the three months that the scam has been going on over at Okx338.com, the reported victims seem to be mostly English speaking investors. Two countries with the highest numbers of defrauded traders are:

• United States
• Canada

There’s a good reason why Okx338 hunts exactly there traders. Not just because they have the investing power that many other investors don’t, but the US soil is where crypto coins have the biggest number of enthusiasts. 

Okx338 aims to spark interest in successful crypto mining with minimum investment and little actual effort, by promising trained professionals and automated systems to do all the hard work for you. Scam agents do so by relentlessly calling you, spamming your email inbox and your social networks until you either cut them off or decide to invest. 

Besides the shiny promises of huge wealth, secure investments and guaranteed returns, boiler room sellers are ready to propose just about anything. Not only will you hear about the ridiculous turns on investment, perfected trading tools and ultimate trading environment, but they go a step further. If you seem emotionally suitable, they will start treating you affectionately until you unconsciously start being emotionally dependent on them. 

When they’ve adjusted the terrain for manipulation, the money extortion may begin. These schemes usually last up to several months, before the victim becomes aware of anything. It is usually already too late to attempt withdrawals on your own at that time. Seeking legal help should become a priority if you find yourself in such a situation. However, do not panic, as we’re here to listen and help with any request.

The View Of Traders On Okx338

As we’ve already mentioned, the Okx338 TrustPilot profile is claimed and verified. The address of the company there is Seychelles, and that is why we didn’t, for a second, believe the scammer was headquartered in the US or regulated there. 

From the majority of opinions posted, it is evident that this firm uses false reviews to impress potential victims that are interested enough to come and read the traders’ experiences. Please take note of how big the contrast is between the number of positive and negative reviews. The same percentage of reviewers has given the positive and the negative rating – a total of 43% for each group. 

We advise you to cautiously read them all, for the sake of your own financial future. The excessively positive ones will show you what fake reviews look like and the negative ones will introduce you to the amount of damage that Okx338 is ready to cause:

“I started with $30,000 and accumulated $120,000 in 2 months. I was encouraged so i put in $100,000. My account manager lost half on bad trading and it remained $50,000. 1 requested to withdraw the remaining fund but my request wasn’t granted.”

“OKX steal my money. They seem to help me but they just forwading my case to support team and support team does not reply. Their 3rd party app company does not response any support ticket either. I want my loss. OKX you need to pay.”

Is There Any Open Information About the Platform? 

The Okx338 website is beyond simplistic, it is barely existent and contains only one page that is intended for mobile device users.

That said, it does have a button that leads clients to “the Machine”. We could see that this Machine is a Crypto Mining and Trading Platform, but unfortunately we were unable to gain access to the application propper. The main problem is in the fact that there is no way for new users to openly create a Trading Account. Every new client must provide an Invitation Code in order to gain access to the Trading functions.

Besides these few buttons and Okx338 Login forms, there is no information on how “the Machine’‘ works, or which functions it features. When compared to the industry standard software such as cTrader, MT4 or MT5, this Machine is severely lacking. Even calling it a piece of Trading Software would be stretching the truth quite a bit.

What Should I Do If I Experience Okx338 Issues?

Reviewing the Okx338 Brokerage was an arduous task. The company does not disclose any information besides the fact that they are registered in Seychelles, but this has also proven to be false.

To access any trading a client must provide a referral code. This means that this fraudulent company has a closed circle of victims, but it doesn’t make Okx338 any less dangerous than other trading scams like GuardianInvest.co.

In the case you have already deposited money to the Okx338 Scam, we advise you to seek professional help in recovering your lost funds. It is only a matter of time before the scammers pull the rug from under your feet and disappear for good. Luckily, our legal experts are on hand to help you with your chargeback.

Contact us using the Live Chat option on our website for the quickest response, and book a free consultation session today. With our help, you too can recover your lost assets!

FAQ Section

Should I Invest in Okx338?

You should absolutely not! This unverified company is an offshore scamming scheme from Seychelles that defrauds clients for their own benefit.

Is There a Welcome Bonus in Okx338?

The company doesn’t provide a welcome bonus but there’s a Daily Check-In bonus for existing clients.

Can I Get Acquainted With Services Without Registration?

You won’t be able to get too much information on anything that interests you until you become a client. But even that is not possible unless you have the invitation code. Okx388 is very picky about their future victims.

How Can I Take Back My Money From Okx338?

Scammers aren’t likely to return your investment or give you the accumulated profit. Your best bet would be getting legal help that we can provide. Only a well-trained and experienced legal expert can help you get your full investment back.

Who is Forex48 broker? Is it regulated? Many questions, and only one answer. Read our in-depth review about Forex48 broker and find out everything, from regulation to fees and license.

Regulation and Security

When it comes to Forex48 broker, there are many confusing facts. For example, when you visit the website of the broker forex48.com, you actually get a MagKing broker. MagKing is another broker that belongs to the same owner, MagKing Forex Limited Group. On the website of Forex48, it’s stated that its Australian-based broker is regulated by ASIC, FCA, and VFSC. However, nowhere in the ASIC register, we were not able to find Forex48 or MagKing. On the other page of the website, it’s listed that the company is supervised by the US FinCEN – MSB, Canadian FINTRAC MSB, and FSASVG. The FinCEN website states that even if you find a company in their register, it is not a recommendation, and that does not mean that any company has a certificate or it is legit. So, seems that this means absolutely nothing for the Forex48 broker. Red flag for the start!

When it comes to the security of the funds, we have nothing to say. The company provides 0 information about it.

Warnings From Financial Regulators

As you’ve concluded so far, Forex48 is a scam. And regulatory bodies concluded the same thing.

Italian CONSOB, Spanish CNMV, the UK FCA, and Belgium FSMA all issued the same warning – Forex48 or MagKing is a scam. Do not trade with this unregulated broker, and report the scam immediately.

This makes it very clear – the company is not regulated by FCA and has no approval to work in the UK, despite the website statements.

In which countries does this broker work?

Since the broker is operating with no license, it has no restrictions in its scam. The Forex48 broker is operating in all the countries, from the USA and Canada, through the UK, Belgium, Spain, Italy, to Australia. 

 Wherever you are coming from, we are warning you to be aware of this scam broker.

How Online Trading Scams Work?

Online trading scams are inevitable when you are involved with unregulated brokers. If the broker is like Forex48 and just claims to have the regulation, there is a big problem. Your money is not safe, and there is nobody that can control the broker’s actions. The scam usually starts when you make your first deposit. After that, the company is harassing you with many calls, asking for more and more money. And they will always have an explanation why they need this money. It’s for you and your own benefit. However, no matter how much money you invest, the problem comes when you need to withdraw it. Then, again, you are getting many excuses about why you shouldn’t withdraw the profit now. Not long after, you start understanding that you have been scammed. The question is what next?

What to do if scammed by Forex48?

If you got scammed by a Forex48 broker, do not get desperate. There is a way to get your money back. All you need to do is to request a chargeback.

But what is a chargeback? The chargeback is the way to get the money back to your card in case you were a victim of an online scam. No matter if you bought something, paid for the service, or invested with the scam broker, you have every right to get your funds back. Do not let the scam broker go away for free! Contact us for help now!

Is Forex48 a good broker?

Forex48 is a scam broker that claims to be regulated when it’s actually not. Stay away from this broker.

Is Forex48 a Scam?

Yes. The broker claims to be based in Australia and have ASIC and FCA regulation. However, the company is on the FCA blacklist.

Is Forex48 regulated?

No, the broker doesn’t have any regulations. It is operating illegally in all parts of the world.

Where is Forex48 broker based?

On the website, the broker claims to be based in Australia. However, we couldn’t find any proof of that in ASIC or any other register.

Novobrokers is a typical online trading fraud. The address can only be found in the Contact Us section, while the company owner and a regulation number are missing. This detailed Novobrokers review will present you with everything you need to know about the firm. Your funds are at risk. Beware.

Additionally, we strongly advise you to avoid the fraudulent brokers 44Trades, Onotex, and CFD Trades.

How Safe Is the Novobrokers Platform?

As aforementioned, Novobrokers is a bogus online trading platform. The firm never listed the owner, regulator, or information about governing law. Since its alleged headquarters is in London, UK, we’ve checked the FCA register. As suspected, Novobrokers is nowhere to be found.

In addition, we checked several other registers, including ASIC, BaFin, CONSOB, and CNMV. All we found were several regulatory warnings indicating that you cannot trust Novobrokers trading scam.

Reasons Not to Trust an Unlicensed Broker

If a broker is not licensed, there is no reason to trust it. Not a single one. These firms don’t provide negative balance protection, don’t follow any rules, and don’t keep your money in reputable banks or segregated bank accounts. Basically, an illicit company can vanish at any time, and you’ll be left trying to follow the funds and recover them.

Public Warning Issued by Spanish Regulator CNMV

The Spanish regulator, CNMV, issued an official warning against the Novobrokers scheme. According to it, this firm provides financial services without a proper license, including Forex trading and financial advising.

This same warning was later republished by the Italian CONSOB and Belgian FSMA, confirming the scam.

What Do Traders Think Of Novobrokers?

Novobrokers is not a very popular online trading firm. Customers listed different issues they had. The majority focused on withdrawal problems. It seems that this investment brokerage doesn’t approve any withdrawal requests. Instead, they simply stop responding and block traders’ accounts and access to funds.

If you find yourself in this story, acting quickly and filing a dispute for a chargeback is of utmost importance.

Novobrokers Trading Platform – MT5?

The broker advertises its platform as a “best-in-class platform that takes your trading to the next level.” According to the website, it’s a proprietary platform created for both newbies and trading veterans, easy to register and even easier to start trading on. 

In the Account Types section, we’re told that the platform is actually MT5. However, upon registering an account, we were given access to third-party MetaTrader, belonging to Stockton Ltd. So, we already know this notorious firm as a platform provider for several illicit brokers. Likewise, sharing your information and funds with Novobrokers implies giving access to Stockton Ltd.

Screenleap – Access To Your Bank Account

According to reviews, Novobrokers account managers are asking clients to download ScreenLeap, a remote desktop access app.Also, It’s software similar to AnyDesk and TeamViewer. Since, using it, an account manager can take control of your PC or a mobile device. Once you approve such access, they can easily access your online banking, crypto wallet, savings account, and any other place where you hold your funds. Therefore, and that’s not something you want to give away that quickly.

Novobrokers Accounts Overview

Customers can choose from one of the five Novobrokers account types. They are:

• Bronze – $1,000
• Silver – $10,000
• Gold – $25,000
• Platinum – $100,000
• VIP – $250,000

Starting with the Silver account, customers are entitled to 1-on-1 sessions with a personal adviser and live trading events once a month, while the Gold account brings free withdrawal fees and daily market review. 

Novobrokers Broker – Countries Of Service

According to our research, Novobrokers mainly operates in:

• Canada
• Spain
• Australia
• Netherlands
• UK

All this without any license.

Also, avoid the trading frauds Fibofix, CFD Capital, and  Crypto EU at all costs! Moreover, before investing, always look into the past of internet trading firms!

The Importance of Legal Documents

Legal documents can be one indicator of a broker’s legitimacy. Moreover, if you find the Terms and Conditions, Withdrawal Policy, and all other relevant documents filed with the necessary information, it’s a good sign. With brokers such as Novobrokers, you may find the T&C or any other legal document, but it will lack basic details. However, as already discussed, we know nothing about the broker-owner or legal jurisdiction, and this information is a must for any legitimate trading provider.

Novobrokers Range of Trading Instruments & Markets

Customers can trade in the following markets:

• Forex – EUR/USD, AUD/CAD, USD/CHF
• Stocks – Amazon, Facebook, Apple
• Cryptocurrencies – BTC, XRP, ETH

This offer is pretty limited, considering the lack of basic instruments, such as commodities and indices.

What Trading Terms Trader Novobrokers?

Novobrokers offers unspecified trading terms. Also, there’s nothing about leverage or spread, meaning that proper risk management is impossible and trading costs are unknown.

Minimum Investment Amount

The minimum deposit with Novobrokers broker is $1,000. The industry average is $250, which is a high amount, especially for an unlicensed trading firm. Besides, regulated brokers often offer Micro accounts starting from as low as $5. Thus, there’s no reason to risk such a big amount of money with this cyber-fraud.

Novobrokers Fees, Payment, and Withdrawal Methods

Due to the lack of a Withdrawal Policy, we don’t know much about withdrawals. Therefore, it seems that the only available payment methods are:

• Wire transfer
• Cryptocurrencies

This is a typical way of fraudulent brokers. Wire transfers are hard to recall, while crypto transactions are virtually untraceable. Investing using any of these puts traders in an unfavorable position when it comes to recovering funds.

Scammed by Novobrokers Broker? – Let Us Hear Your Story

If you were scammed by Novobrokers or any other fraudulent firm, let us know. Our experts may be able to help you recover stolen money. It’s of utmost importance to report the scheme right away so that we can act quickly and increase the chances of success.

Contact us via online chat to book a free consultation, and let’s get your funds back before it’s too late.

What Is Novobrokers?

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

Is Novobrokers a Scam Broker?

Novobrokers is a scam broker exposed by the Spanish regulator CNMV.

Is Novobrokers Available in the United States or the UK?

The firm provides its services in both countries without a valid license.

Does Novobrokers Offer a Demo Account?

No, Novobrokers doesn’t offer a Demo account and doesn’t have its own platform.