Think of the scam broker apparatus as a hydra from Greek mythology. You slice one head off, two more grow to replace it. These fraudsters appear in a similar fashion. Here, we dealing with one that had its website “sliced off,” in other words, taken down. The next section of the MTInvesting Review will deal with the (il)legal status of our subject.

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

Why Choosing MTInvesting Broker Is Not The Right Choice?

First and foremost, we have to announce that MTInvesting’s website was unavailable for this analysis, thus we had to gather information from other sources. Without further ado, let’s dig into the investment scam. 

The website was originally exclusively in Italian, which means that the speakers of that language were the designated targets. Next, we’ve found a Canadian address that is unmistakably fake, with no phone number at all. Therefore, there is no doubt in our minds that we are dealing with a crooked financial swindler that is unlicensed.

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

For safe trading, it’s best you trust a reliable and legitimate provider that is registered with Tier 1 regulators such as the FCA, BaFin or CySEC. After checking the websites of these regulatory institutions, we’ve found nothing on our shady broker. That’s a red flag.

How Reliable Is MTInvesting Broker?

MTInvesting is an unlicensed trading scam. The firm is anonymous and has been blacklisted by the Italian regulator CONSOB.

Warning From the Italian Financial Regulator CONSOB

Only thing we did find was a warning issued by the Italian regulator CONSOB. Being blacklisted by this authority has sealed the fate of MTInvesting and destroyed its scheme. Here’s the warning:

What Web-based Trading Platform Does MTInvesting Offer Access To?

From what we managed to find out, the unique web-based trading platform that MTInvesting used to offer looked at least somewhat decent but failed to meet the prerequisite standards for a great trading experience. Nevertheless, it is unimportant since nobody can access it at the moment.

If you desire true and reliable software, then we’ve got two for you – Meta Trader 4 and 5. These are the industry’s leading platforms when it comes to the quality and tools they offer so do not bypass them. 

What Do We Know About MTInvesting Account Types?

We were unable to find out anything about the account types that MTInvesting used to offer. So, not much to tell here. However, what we can say is that scammers like this one most frequently rely on the initial deposit that clients make. 

They simply take that money, put it in their pockets and rinse and repeat the process with a new client until they either vanish or get taken down, as is the case with this fraud. 

Also remember the names of the Winnex Consulting, BUX Forex and Gamma Capitals trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

Can a Trader Use a Demo Account?

Pertaining to everything said in the previous section, we got one more point to make. It also relates to our financial scammer but it’s important to remember in general. Make sure that the broker you’re signing with offers a free demo account that will give you insight into its offer, trading assets and platform. MTInvesting was smart to include one.

What Is Known About MTInvesting’s Trading Conditions?

The minimum deposit is €250, not unusual but also too much considering the shady background of MTInvesting. Next, the leverage is set at 1:200, which could be very ungrateful to beginner traders since volatile markets bear great losses with such high leverage.

When it comes to spreads, for EUR/USD major pair we had 3.1 pips and that is really not fair. A spread wide as a football pitch will certainly not help you make profits so watch out for that. 

Deposits & Withdrawals 

Based on the available information, MTInvesting had only wire transfers as the acceptable payment method. This method is unsophisticated compared, for example, to crypto payments, which are much harder to trace and provide a higher degree of anonymity.

One more thing to mention regarding payments is that the fraudulent broker requires the client to contact it prior to paying. This is another one of the shady tricks scammers use to ensure they got the right person to defraud. Also, there was no information about withdrawals or fees.

Why Do Scammers Prefer Cryptocurrencies?

Cryptocurrencies are convenient for scammers because they have the possibility to remain anonymous. Plus, it’s not easy to trace these transactions. Another probable scenario for payments with MTInvesting is this – the broker makes you contact your account manager who then redirects you to crypto payments instead of wire transfers. 

Should this happen to you, know immediately that you’re dealing with an outright scammer that’s dishonest, non-transparent and amoral.

Scammed by MTInvesting Broker? – Let Us Hear Your Story

We understand your frustration if you’ve fallen victim to this malicious scheme. But it could have happened to anybody, there’s no reason to be ashamed. The silver lining here is that there is a small chance to get your money back. How? By way of recall of course!

But What Is A Recall?

Since MTInvesting stated it accepts only wire transfers, you should know that it can be reversed. This is known as a recall. The only problem is that the transaction cannot be completed for the recall to work. Hence, you must act with haste and hurry if there’s still time!

What Is MTInvesting?

MTInvesting claims to be a reliable broker with a website in Italian.

Is MTInvesting a Scam Broker?

MTInvesting is a classic scam broker that is unregulated. It has even been blacklisted by CONSOB.

Is MTInvesting Available in the United States or the UK?

MTInvesting did not specify which clients it accepts but since the website was exclusively in Italian, it would’ve been harder for English-speaking traders.

Does MTInvesting Offer a Demo Account?

Our deduction is that  MTInvesting did offer a demo account on the website.

ForexTB is a relatively new broker on the market. We did our review to verify can this CySEC regulated broker be trusted. Read our in-depth review on FXTB broker and find out.

• Regulation and Security
• In which countries does this broker work?
• Is it possible to make money with an FXTB broker?
• Scammed by ForexTB?

Regulation and Security

FXTB is owned by Forex TB Limited. This same company is the owner of another forex brand, PatronFX, that opened in January this year. The company is based in Cyprus and regulated by CySEC. 

The company does not list where the funds are held, are they in a segregated account, and in which banks.

So far, we cannot conclude much. This is why we decided to search more.

In which countries does this broker work?

The FXTB broker operates within the EEA zone according to CySEC regulation. The broker listed that it does not provide financial services to residents of Belgium and Switzerland on its website. Why the broker is avoiding these two countries remains unknown.

Also, the company can offer limited services within the UK because it does not have the FCA regulation. And according to new rules since Brexit, any company with EU approval can only partially operate in the UK while waiting to be approved by the FCA.

Is it possible to make money with an FXTB broker?

Whenever you start trading with some broker, the question is not can you make money. The question is can you withdraw it. Because you can see your money on the screen. That is never a problem. The problem comes when you want that money out inside your bank account. This is when the broker starts giving you excuses and restricting your access.

When it comes to FXTB broker, it is offering both web trader and MT4. The web trader is less secure, and the broker can easily manipulate it. That is why it is never a good choice.

The minimum deposit with the FXTB broker is 250 EUR. There are brokers allowing you to start with $100 or even $10. This is a much more comfortable option if you are a beginner and want to test everything out.

If you think that the Demo account is a good option, the FXTB broker offers 100,000 units. Practically, you cannot get the real market experience. It is much different when you have 250 EUR at your disposal and when you have 100,000 EUR. The margin, the leverage, everything is changing. For the professional account, the leverage is 1:400, while small accounts can get only up to 1:30.

However, according to reviews, some clients experienced issues when withdrawing profit from FXTB broker. Be aware that it can happen, and ask for help if you think you are being scammed.

Scammed by ForexTB?

If you were scammed by a ForexTB broker, do not hesitate to ask for help. You are not the only victim. And there is a solution. You need to file a dispute and request a chargeback.

But what is a chargeback? It’s a way of refunding your card in case you were a victim of a scam. Contact us for help immediately, and let’s get your money back!

Is ForexTB a good broker?

ForexTB is a broker regulated by CySEC. It is a new broker on the market, and there have been a few complaints about it.

Is ForexTB a Scam?

FXTB is a broker that is operating under the license of CySEC. Yet, there are complaints about this broker’s work. We recommend you to be careful.

Is ForexTB regulated?

Yes, the broker has the CySEC regulation.

Where is ForexTB broker based?

ForexTB broker is based in Cyprus and regulated by CySEC.

A short glance at the FX Wonders website told us we are dealing with a fraudulent broker. Why? The first thing you see on the website is the name “Financity.” You might think it’s some sort of a company owner or anyhow related. Yet, it’s a legit US financial company not associated with this offshore scam.

We decided to expose what else the FX Wonders broker lied about in our review.

FX Wonders Regulation and Security

FX Wonders is one of those anonymous, shady brokers that haven’t listed who stands behind the entire operation. That’s why we marked it as the first red flag, one of many on the list. All we see is some dubious address from Saint Vincent and the Grenadines. This exact address was used by scam brokers, including CCXMarkets, HonorFX, WesternFX, and many more.

Once we tried to contact the support team and ask if the company is regulated, they told us they are regulated “by the USA.” Another proof we are dealing with a lousy fraud.

Fund Withdrawal Issues

Getting money back from an unregulated broker is never easy. These people tend to take as much money as they can and simply disappear. According to FX Wonders reviews we’ve seen, this company does not hesitate to take the last penny from their clients, but once they should get a payout, their account is blocked. Does it sound like something a legit company regulated “by the USA” would do? Of course not.

Do not trust anything you hear from broker and its employees.

Beware of the FX Wonders scam and other brokers such as Zeyfex and 60op.

Traders Opinion

Checking what traders think of the broker, we came to the last and the worst red flag. According to every website showing FX Wonders reviews, the broker is stealing clients’ funds and refusing to return them. As per these reviews, clients are forced to download AnyDesk or similar software and give control of their computer to a broker. Once they do so, all of their banks are wiped out, and they have no way to return the money.

If this is something that happened to you, let us know immediately.

How Does Online Trading Scam Work?

Nowadays, trading scams have evolved on different levels. False brokers don’t choose means and tools to defraud their clients. However, everything starts with your application on some video you see on social media. This video promises a luxurious life, paid off debts, and whatnot. Only for you to invest money. And once you do, you’re falling into the black hole of scammers. A way out is hard to find, and even if you go out, the question is if you will get any of your money with you.

Never start trading before you thoroughly check the broker.

Scammed by FX Wonders?

Suppose you started investing with FX Wonders. Since our company received numerous complaints about this particular broker, we can assure you that you are not the only victim of the FX Wonders scam. If you have any bad experiences, request a chargeback immediately.

But what is a chargeback? This is a way for your bank to retrieve the money you’ve lost if you were scammed. Get in touch with our support team and get all the information during a free consultation. Let’s get your money back now!

What is FX Wonders?

FX Wonders is an online trading broker based in Saint Vincent and the Grenadines.

Is FX Wonders a scam?

Yes, FX Wonders scams clients and pretends to be a regulated company.

Is FX Wonders regulated?

No, the broker does not have any kind of financial regulation.

To be fair, this crypto exchange never appeared legitimate. Firstly due to missing regulatory oversight. Secondly because of registration in Estonia and Lithuania where most crypto firms tend to register. Mainly because of progressive legislation and low requirements for the license.

Nevertheless, this firm didn’t have any. And our ExMarkets review reveals how the company managed to get its hands on traders’ money.

All the Illegal Operations

Advanteks OÜ from Estonia, the parent company of ExMarkets, isn’t regulated by the Estonian Finantsinspektsioon. Moreover, the website gives two Lithuanian addresses, but ExMarkets and Advanteks OÜ do not appear in the regulated entities lists kept by Lietuvos Bankas (LB) – the main regulator in the country. While searching further, we concluded that ExMarkets and Advanteks OÜ aren’t a part of any database, including those of FCA, BaFin, FINMA, ASIC and CySEC.

This crypto exchange platform in the rise has been performing crypto services without any legal confirmation of their credibility. Investments made to their wallets are in risk of being stolen, locked or misused by the platform itself. 

A group of anonymous persons running the site doesn’t leave a single trace of their identity online, so we can’t tell if they’re even competent to operate the way they do. Stay clear of this crypto scam, like you would from any other, including Binatex.

Regulatory Warnings Against ExMarkets Exchange

Even though ExMarkets trade provides a user-friendly platform for crypto trading, it’s far from trusted. After all, if the company was legitimate it would be licensed in the first place. However, instead of a license, the ExMarkets scam company ended up on the FCA warning list.

This is crucial for all the crypto traders in Europe. Primarily because they know institutions are watching our every move. Therefore, if you want to keep your funds safe, you better trade with licensed companies.

MetaMask Phishing Warning – ExMarkets Website Not Safe

MetaMask is a quite popular crypto wallet that many traders opt for nowadays. However, ingenuine companies use that to their own advantage to trick inexperienced clients. For instance, this company would send you an e-mail where you have to verify your crypto wallet.

However, if you don’t do it in a given time, the account might be restricted. Therefore, traders run quickly to verify their accounts, and once they complete the ExMarkets login procedure all their details have been stolen. Ultimately, that results in all the crypto being stolen as well. So, watch out for any website where you get the message that the website is not secure.

Countless Victims

Although the domain was active since 2015, ExMarkets hasn’t always been a fraudulent crypto site. Their crypto activities have first been detected in 2018. FoxicaTrading has operated since 2015 and has been a scam ever since. 

ExMarkets has been targeting North American investors the most, as well as South-East Asia. Take a look at the countries where the swindler is most active: 

• United States
• Canada
• Indonesia 

What seems like an appealing crypto trading and staking at first, soon turns sour. The boiler room agents and their affiliates advertise ExMarkets as an impeccable platform and a sure source of stable income. Efficiency, affordability, reliability and global reach are their biggest ideals and they try to sell it to potential victims through their excessive friendliness and affection.

Naturally, scams do not help you earn but rob you. However, we counter such fraudulent cyber projects and force payments. So contact us if you ever find yourself fighting a losing battle against a crypto con.

Traders are Displeased!

The average rating that ExMarkets has on TrustPilot is 1.7/5. This itself should be a warning strong enough to let you know the place is not safe for investing. The general discontent is apparent from each individual review:

“Scammers! Everything goes very well when you are sending funds to exmarkets. However, the very first time you try to withdraw funds, the problems start. My witdrawal status is already ‘pending’ for 1.5months and te ‘customer service’ seems to be a facade and non existing.”

“Scam crypto exchange. I requested withdrawal of my Cardano coins 4 months ago and it is still marked as “pending”. No one answering support tickets. Avoid at all costs.”

“Scam! stay away! my withdrawal transaction is in progress for over a week now. They stopped responding to my messages. Very easy to deposit but you will most likely won’t be able to withdraw.”

Fake Yet Attractive Fees

Deceptive strategies are necessary when the quality of actual service is unsatisfactory. At ExMarkets, the fees are lower than industry average, which instantly had us in doubt of their truthfulness. Taker and Maker fees are at 0.12%, while there’s no funding fees. The withdrawal fee depends on the crypto coin you choose. For example, the payout fee for BTC is 0.0005 (~15 USD).

Affiliate Campaign

All fraudulent schemes look for ways to bring in new victims quickest. ExMarkets does it through their affiliate programs. Spreading the word among other crypto traders and getting them to invest supposedly earns you 21% commission. The scheme is multi-tiered and covers 3 levels of affiliate agents. 

Bogus Software

It is already known that the majority of trades done on scam platforms never actually happen. Simple, web terminals are the ones used to conduct such projects and deceive victims. Easy to manipulate and always heavily controlled by the fraud, these web platforms are the most abundant among scammers. 

The difference is obvious: they do not require downloading, are fairly comprehensive and lack advanced features severely. In accordance to that, ExMarkets doesn’t have a proprietary platform with the version for every device and offers no dedicated mobile app. 

Crypto Pairs to Trade

We’ve already mentioned that ExMarkets offers crypto staking and crypto pairs to trade. According to what you can trade against, there’s several groups of pairs:

• Crypto VS BTC (ADA/BTC, CHZ/BTC, DASH/BTC, ETH/BTC, OMG/BTC)
• Crypto VS ETH (ADAX/ETH, DDK/ETH, KEY/ETH, LINK/ETH, YAY/ETH)
• Crypto VS USDT (BTC/USDT, ETH/USDT, DODO/USDT, GTN/USDT)
• Crypto VS ADA (ADA/BTC, ADA/ETH, ADA/DOEX, ADA/EGO)

Accounts Not Offered

Even after joining the platform, we didn’t get to choose to buy any specific package. The website doesn’t give an option or any information about existing account types. We can only assume there were none to begin with. 

This is nothing out of the ordinary when it comes to scam exchange platforms. They do not usually bother to create account types or specify their prices. The sole point is to extort money in the form of a deposit.

Demo Account Unavailable

Not only is there no customized account types, but there’s no option for trial trading. ExMarkets doesn’t want you to snoop around their trading area without depositing. Neither do they want you to learn how trading works. That basically defeats the purpose of Demo. After all, they want to be able to rob you easier. 

Easy Withdrawal Promises

No one makes it sound as easy as ExMarkets does. All you have to do to withdraw funds from your trading account is enter the sum and your crypto wallet address. In just a matter of minutes you will have cash appear in your wallet. All that would be lovely if true, but we immediately know it isn’t. 

Even regulated financial services providers earn off withdrawal fees, it is impossible for an impostor like ExMarkets not to charge them. No legal docs reveal the exact costing, so you can expect surprises. Also, crypto transactions are known for being anonymous and definite, so better contact us for help if you’ve already deposited.

Unresponsive Customer Support

Almost every single one of the numerous negative reviews about ExMarkets talk about customer service ignoring complaints and being unhelpful. This is not something to be shocked about. All their purpose is to guide you to invest, that’s all they need from you. Online chat feature is not instant and you only receive answers to your email. Or better said not receive.

In Summary – Stay Away!

We’d like to offer you words of comfort and tell you ExMarkets isn’t so bad. But that would be against everything we discovered and everything their ex customers are saying. The quality of service couldn’t be worse, the support doesn’t exist and withdrawals do not work. Our only advice is to keep away from this site.

If by any chance you have already made a bad move to invest here, there’s still hope. If you contact us immediately, we can book a free consultation and direct you to our legal team. They can offer proper help and piece of advice on how to resolve your situation. 

FAQ Section

What Is ExMarkets? ExMarkets is a crypto platform that is operating without a regulation and a proper license.

Can You Withdraw From ExMarkets?

It is well known that withdrawals with crypto scammers aren’t allowed. All the victims report the same about ExMarkets.

What Is The Minimum Deposit For ExMarkets?

The site states the minimum deposit to be only $1.

Does ExMarkets Require KYC?

No where is the KYC procedure mentioned, not even in the aspect of account funding.

Where Is ExMarkets Based?

ExMarkets website claims to operate from their two offices in Lithuania.

Who Is The Owner Of ExMarkets?

The site is owned by Advanteks OÜ from Estonia, but this company does not seem to exist.

The easiest way to expose this broker is to check the company’s legal information, such as address, legal name, registration, and most importantly, license. Luckily, they present themselves as UK-based, which makes everything a lot easier.

But even if you exclude these details, there will be some other irregularities you have to watch for. Therefore, keep an eye on details in this honest LunoFx review.

Legal Info: Is LunoFx Legit Or A Scam?

To recognize any investment scam nowadays is quite easy. Checking the regulatory status of the company is the first step. In this case, LunoFx should primarily have a license from the Financial Conduct Authority (FCA). Or at least be on the TPR list (Temporary Permission Regime). Yet, they aren’t.

On top of that, none of the other regulatory databases hold any records of this firm having a license. Starting with CFTC, IIROC, ASIC, or BaFin. Practically, without those, all the company’s security features are meaningless.

Who Are LunoFx’s Victims?

In general, the LunoFx broker didn’t have enough time to build or destroy its credibility. After all, analytics show their website has been active for only a few months. Still, some patterns are already visible. It appears this firm is mainly targeting traders from: 

• Netherlands
• South Africa
• Mexico
• Australia
• Cyprus

Therefore, if you are coming from any of those, open four eyes. Thus, if you are already involved with this company, feel free to contact us for a free first refund consultation.

Investment Costs With LunoFx

Another key problem with this broker is that none of the relevant costs are revealed. Not even the leverage is disclosed. If you think about it, there’s no reason to purchase anything that has unclear conditions, especially when big amounts of money are in play. 

In any case, you should bear in mind that UK brokers can offer maximum leverage of up to 1:30 for retail customers. Legitimate ones, of course.

Bonuses

Another feature that exposes this broker as a scam is a welcome bonus policy. For any $10 bonus, traders have to reach 10 mini lots (or one lot) that equals $100.000. Practically impossible, and before you reach those requirements, you can’t withdraw any funds. Moreover, such features are banned all across Europe for these reasons.

LunoFx Trading Features

The company claims to offer advanced customization and charting options, a user-friendly platform, trading signals, a trading bot, and more. Yet, there’s no proof any of that is true. If they only had transparent access to the platform, everything would be different.

Trading Platform Available

Every unregulated broker offering trading bot most likely has only a web-based platform. This way, they can modify what traders see from the backend and make it look like the bot is making profits.

That’s the easiest way to gain traders’ trust and make them deposit more money. Yet, to avoid such problems, we suggest you trade with brokers that offer cTrader or Meta Trader. This is not the case with LunoFx.

Available Trading Assets

Generally, offering more than 1000 assets from 5 different categories is not a bad deal. However, the reliability of data presented about those is highly questionable. Anyway, some of the options are: 

• Forex – GBP/AUD, NZD/HKD
• Indices – DAX30, FTSE100
• Commodities – gold, natural gas
• Shares – Netflix, Airbus
• Cryptos – ETH, DOT

Account Types

As can be seen, LunoFx account types only present you with a bunch of fictive benefits. Such as risk-free trades, financial planning, independent contracts, VIP events, and more. Yet, they require insanely high deposits to get started with those. The options are: 

• Bronze – $2.500
• Silver – $5.000
• Gold – $10.000
• Premium – $25.000
• Platinum – $50.000
• VIP Exclusive – $100.000
• CEO Managed – $500.000

Mobile Trading App

More disadvantages of this brokerage can be found while trading on a mobile. Instead of secure and fast iOS and Android apps, traders have to use a browser. Not the most convenient method if you like trading. Therefore, we suggest you read our LionTrader review and find some useful tips about security with a broker.

Demo Account

Demo accounts serve traders as an inspection route. This way, traders can ensure the brokers’ offer is reliable. 

However, on the LunoFx platform, that’s not an option. If you compare it to any other legitimate broker, you will see why is important.

Education

Educational program with LunoFx scam broker is nothing but unreliable. After all, you will be learning from unlicensed traders. But in general, if they were legit, the options would be quite good. You can get technical and fundamental analysis lessons, live webinars, and risk management education.

LunoFx Withdrawal

The biggest issue with the LunoFx online trading platform is the withdrawal procedure. In fact, the company provided zero details about the procedure, fees, or processing time. Therefore, you can expect a wide range of issues. Starting with verification of your account and AML laws.

Customer Support

If you didn’t catch up with all the warning signs, you just have to check the company’s contact options. Only e-mail addresses and web question forms are available. 

Yet, this company does not have phone numbers, Skype, or anything more reliable. Still, even that wouldn’t mean anything, as we can see from our VintageMarkets review.

Key Information To Consider About LunoFx

Firstly, the company is not licensed by any authority, especially not in the United Kingdom. On top of that, they are offering highly suspicious services on even more suspicious platforms. Not to mention unclear trading conditions, withdrawal fees, and poor customer service.

All in all, if traders took a minute to think about the company’s offer, nobody would accept it. Thus, very often, they crack under pressure. Therefore, if you lost money with this brokerage, reach out to our refund experts for advice. Don’t worry, the first meeting is free of charge. Book yours now.

FAQ Section

What is LunoFx?

LunoFx is an anonymous FX and CFD trading firm operating allegedly from the United Kingdom.

Is LunoFx Regulated?

No. Primarily, the company is not licensed by the UK’s most important authority – FCA. Neither are they licensed by any other more or less trusted institution.

What is a Chargeback?

A chargeback occurs when a cardholder disputes a charge on their account, and their bank reverses the debit or credit card transaction. To start the process, contact us.

Trytrade broker has allegedly offices in 3 different countries. But what surprises us is that the broker doesn’t share any ownership information. Even though they are operating from the strictest trading regulated countries, something is missing.

All potential risks of investing with Trytrade trading company are revealed. To find out what can cost you the most, read this Trytrade review carefully.

Also, remember the names of the Dripcoin, StellarFX and CMTPRO trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

Trytrade Unlicensed And Risky Brokerage?

Three countries where Trytrade broker has offices are UK, Switzerland and Luxembourg. Even though Luxembourg has one of the highest living standards they are not popular for trading business. Therefore, we will take a look at Finma and FCA registers. But without a doubt, Trytrade company doesn’t have any licenses to provide trading services.

Trytrade is Unregulated Europe-based  broker. Non-transparent trading conditions. Only web trader available. Extremely high minimum deposit requirement without credibility.

Additionally, some other Tier 1 regulators besides FCA never authorized this broker for trading services. To be precise, we are talking about BaFin and ASIC. This means that traders don’t have any fund protection measures available. Not to mention compensation funds.

Trading Platform and Other Apps on Trytrade

In general, a trading platform plays a key role in choosing a broker. Of course, after the regulations. After all, once you realize that you don’t have any trusted third-party software, you know there is something shady. At least with non-licensed brokers like Trytrade.

This broker provides proprietary web trader that doesn’t even fit beginner traders. Besides its easy navigation, there is nothing much more to provide. Traders don’t have the option to use social trading or copy trading features, but also automated trading options.

Therefore, looking for a licensed broker with Meta Trader or cTrader already looks like a good choice.

Trytrade’s Trading Assets and Instruments

As expected, this scam broker offers most of the major trading classes. Traders can choose between:

• Forex                     EUR/HKD, HKD/SGD, AUD/NZD
• Commodities            gold, platinum, silver
• Indices                      FTSE 100, Dow Jones, DAX 30
• Shares                      Microsoft, Google, Facebook
• Cryptocurrencies       BTC, ADA, XRM

But whatever assets they offer, they don’t have the authorization to provide such services. Moreover, trading conditions for those are missing. Which makes this whole business even more suspicious.

Trytrade Countries Of Service

The countries where Trytrade broker mainly operates are ones with strict regulations. But we could already see that they don’t care much about those.

Especially if you read Trytrader reviews you can find a pattern. They are mostly scamming traders from:

• United Kingdom
• Australia
• Luxembourg
• United States

Trytrade List of Account Types 

Trytrade account types are another suspicious matter. They offer 6 different options:

• Bronze          $2.500
• Silver            $10.000
• Gold             $25.000
• Platinum       $50.000
• Diamond       $100.000
• VIP               $500.000

What makes it unattractive as the offer is leverage above the maximum allowed according to ESMA. Also, a welcome bonus that is widely banned. So, if you don’t lose money due to high volatility, high leverage and lack of negative balance protection, you will be due to a bogus scam. That’s why these shady brokers have bonuses with malicious clauses. That trades mostly oversee.

Can a Trader Use a Demo Account?

Unfortunately, Trytrade scam broker doesn’t provide any risk-free solution. Many licensed brokers nowadays offer at least micro accounts.

But many of those offers as well a demo account. However, that’s not the case with this company.

Terms of Service for Trytrade

As with many other scam brokers, the most problematic part is withdrawal. First, we need to understand the benefits and downsides of some funding methods. The broker only accepts following:

• Debit/Credit cards
• Wire transfers

Even though minimum deposit for a bronze account is $2.500, the broker will accept as well $250 for any account type. That tells you that their goal is just to convert you as the client.

Moreover, the broker claims that all fees must be paid prior to any service. Therefore, before you request a withdrawal you must pay all the fees. Which are not disclosed by this broker. In addition to that, they have a bonus policy that requires a 25 times bigger trading volume ( award amount + deposits) before you can make a withdrawal.

Leverage, Spreads and Fees

As the broker that trades in Europe, they should comply with some rules. We already saw that this scam broker avoids many. The same is with leverage of up to 1:100. Important to realize is that ESMA (European Securities and Markets Authority) allows a maximum of 1:30.

Even though the spread on the platform starts from 0.1 pips that are still questionable. Since this broker is not regulated. Additionally, their fees are explained in the T&Cs section, but none of the percentages are disclosed. That means you can expect anything.

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

You are not the first or last person that got scammed by this trading company. However, it’s important to share your experience with other traders. This way you can raise awareness about these brokers’ scamming activities. Which leads to institutions and regulators issuing warnings.

Since they are not licenses, the only way to get away from these guys is a chargeback. Our specialized fund recovery team is there to advise you on any steps that you want to make.

What Is the Chargeback Procedure?

Trytrade broker accepts mostly card payments. This is a very positive thing, because only on those you can file a chargeback request. Once you provide proof of scamming activity you can make such transaction reversed. But only in the first 540 days.

Not to break your head thinking about what to do, you can contact us for a consultation. Don’t let these swindlers get away with your money. Get in touch today.

What Is Trytrade?

Trytrade is allegedly European broker offerings services worldwide without authorization.

Is Trytrade a Scam Broker?

Yes. They are not a licensed broker and Trytrade reviews acknowledge that as well.

Is Trytrade Available in the United States or the UK?

This broker offers services to citizens coming from both mentioned countries. Of course without licenses.

Does Trytrade Offer a Demo Account?

No. There is no risk-free choice for traders to test their platform or services.

Garantio Finance is a relatively new crypto broker on the market. The company claims to offer the ultimate crypto bot, ensuring you will profit from the digital currency market. However, even crypto trading firms have to be regulated. There’s a mismatch in the information regarding Garantio Finance’s regulatory status, which we will present in this review.

Also, we recommend you not to invest in the fraudulent brokers Green Capitalz, Geneticrypto and Bontobel.

Is Garantio Finance a Licensed Broker?

Under the Terms and Conditions, Garantio Finance claims to be a brand of Invest PTY LTD, a brokerage registered and regulated in Australia. However, our research didn’t find any connections between legitimate brokerage and garantio.finance. 

Furthermore, none of the praise reviews mentions Garantio Finance’s regulation. It’s pretty suspicious since every legitimate firm points it out as the first benefit of trading with them.

In the end, we searched through the ASIC register and didn’t find any mention of the Garantio Finance broker. 

How Unsafe Is An Unlicensed Broker?

Unlicensed brokers provide no money-back guarantee, no negative balance protection, and are not transparent when it comes to trading conditions. Garantio Finance claims to be Australian-based, but the only way to contact the firm is by using a phone number with the country code of Bermuda. Our best guess is that the trading company is another offshore crypto cyber-fraud you want to avoid.

So Is Garantio Finance a Decent Broker or a Scam?

Garantio Finance claims to be regulated by the Australian regulator ASIC. However, our investigation showed differently. Garantio Finance broker cannot be trusted.

Traders’ Experience With Garantio Finance

You will find a lot of praise if you check Garantio Finance reviews in Trustpilot and similar websites. Note that illicit brokers usually write their own reviews at the beginning to attract more customers. 

Since the firm doesn’t have a single bad review, it clearly indicates that these reviews are dishonest. Even the most regulated brokers have unsatisfied customers. It comes with the business.

What Platforms Does Garantio Finance Offer? – Available Trade Software

The broker offers a proprietary WebTrader, allegedly fully synchronized with MT4. While this may be true, it only means that you can access the web-based MT4 for social trading and copy trades from other investors on the market. This doesn’t mean you will be given all the perks you would typically get if the firm offered real MT4.

Therefore, even the trading platform is not a good excuse for you to start trading with this fraudulent firm. One WebTrader will never provide you with enough charts, indicators, and other advanced features available on MetaTrader4 and MetaTrader5.

All About Garantio Finance Accounts

Customers have access to 5 Garantio Finance account types. They are:

• Student Group – 250 EUR
• Intermediate Group – 2,000 EUR
• Advanced Group – 5,000 EUR
• Crypto Group – 1 BTC
• VIP – Contact Account Manager

Besides the increasing deposit requirements, accounts differ in education sessions, account manager assistance, access to automated trading, and available market areas.

Also remember the names of the 5Markets, AreaTrading and Soltechx trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

Live Trading

Garantio Finance claims to offer classic Live trading, automated trading, copy trading, and crypto exchange. Since it offers only a web-based platform, it’s hard to imagine the quality of EAs or social trading. Since there’s no Demo account and we were unwilling to invest a penny with this shady scheme, we cannot say more besides what the website gives us.

Garantio Finance Range of Trading Instruments & Markets

Since the firm allegedly offers the best crypto bot, this is the only available trading asset – cryptocurrencies. Customers can invest in the most popular digital coins, including:

• BTC
• ETH
• XRP
• LTC, and more

Note that a solid range of coins doesn’t necessarily mean that the broker is good.

What Trading Terms Does Garantio Finance Provide?

The broker doesn’t say much about trading terms. We know nothing about spread and leverage, meaning proper risk management is impossible. Furthermore, the Terms and Conditions don’t provide sufficient information regarding trading costs and withdrawals.

Thus, all this is proof that the firm is not actually licensed in Australia. Legitimate brokers follow strict rules and are very transparent regarding trading terms.

Deposit, Withdrawal Methods, And Fees

According to the T&C, this trading brokerage accepts the following payment methods:

• PayPal
• Debit/credit cards
• Wire transfer
• Cryptocurrencies

However, upon registering an account, you’ll be allowed to invest only through Bitcoin. This is the preferred investment method for scheme brokers since crypto transactions are virtually impossible to trace and chargeback is not applicable. 

The firm charges an inactivity fee of up to 100% in case the account is automated and the customer is not trading alone, they do not answer to the broker for longer than 3 months, and the company thinks that account maintenance costs exceed the value of the account. All in all, they can take everything you have just because you don’t pick up your phone.

Customer Support – Communication Channels

Broker customer support uses different communication channels to reach their customers. Usually, they’re approaching potential and existing clients through phone calls and emails. So, if you do not answer, you may receive various offers through WhatsApp or social media accounts.

The best thing you can do for yourself and your funds is to avoid the Garantio Finance scheme.

Scammed by Garantio Finance Broker? – Let Us Hear Your Story

If you have been involved with Garantio Finance, there’s a high chance you lost your money due to a scam. In such a case, contact us for assistance with the refund procedure. 

Our experts have vast experience dealing with crypto scams, tracing transactions, and finding perpetrators. Contact us immediately, and let’s start working on your case before the broker vanishes with your hard-earned money.

What Is Garantio Finance?

The broker is an unregulated crypto trading platform pretending to be legitimate.

Is Garantio Finance a Scam Broker?

Garantio Finance is a trading scheme that provides customers with false details about the company owner and regulations.

Is Garantio Finance Available in the United States or the UK?

The broker operates in the UK but not in the US.

Does Garantio Finance Offer a Demo Account?

No, Garantio Finance doesn’t offer a Demo account, only Live trading.

Trading can be quite a profitable endeavor if one knows what they’re doing. Most people who are new to the market rely on their broker to assist. But sometimes, these brokers are dishonest and can do more damage than help.

One such will be elaborated on in our detailed TradeMarketsPro review.

Is TradeMarketsPro a Trustworthy Forex and CFD Broker?

TradeMarketsPro is an anonymous online trading brokerage without a license. We’ve tried searching through their legal documents for any helpful information about the owner, but we found nothing.

In the Contact Us section, the company mentioned a UK address. Any brokerage firm that wants to provide trading services from the UK must do so with FCA approval. The Financial Conduct Authority is an official regulator of the country, requiring brokers to maintain a minimum capital of 730,000 GBP, invest in the compensation fund of up to 85,000 GBP per account, and limit leverage for retail traders to 1:30.

TradeMarketsPro says to be based in the UK but has no FCA license. The company is relatively new but has already earned a negative reputation.

Another important thing that FCA requires is transparency. Namely, investors must know who they are dealing with and under which terms. With TradeMarketsPro, we have no such details, which is proof of this company’s illegal status.

Where Does the Broker Operate? – Countries Of Service

The domain of the company entered the GoDaddy WHOIS database on the 18th of November, 2022. Since then, the company has been placing ads all over the internet.

There are two countries that are the main targets of the TradeMarketsPro scam. These are:

• Australia and
• Sweden.

The broker is also targeting other areas, but not as much. Wherever you reside, be vigilant and stay away from fraudsters.

Trading Software Comparison

Now that we’re clear on where let’s see how. How does TradeMarketsPro conduct its fraud?

The company uses only one trading platform, and it’s the most basic WebTrader. You can review assets, place pending orders, or execute your trade immediately and see several charts. Nothing special and nothing advanced.

With a WebTrader, you depend on the internet connection and the speed of your browser. This is why most legit brokers offer third-party solutions, such as MT4, MT5, or cTrader. With each of these, you have many more features. In addition, you can use them through a desktop or a mobile app.

What Financial Instruments Can You Trade?

This brokerage gives access to five asset classes, those being:

• Currency pairs – EUR/USD, GBP/NOK, AUD/SEK
• Commodities – gold, silver, crude oil
• Indices – AU200, BE20, NASDAQ
• Shares – Amazon, Apple, Google
• Cryptocurrencies – BTC, BCH, USDT

Since crypto CFD trading was banned in the UK in 2021, this is yet another proof that the company cannot offer legal trading services in the country.

Leverage, Spreads, and Fees

The leverage is nowhere to be found, while the company advertises different discounts on swaps and commissions. However, they don’t specify the initial amount you will have to pay. All in all, it seems as if you need to invest first, then find out about trading expenses.

Account Types Offered by TradeMarketsPro

Customers can choose from one of the four account types this brokerage offers. These are:

· Basic – $250

· Gold – $25,000

· Platinum – $100,000

· VIP – $500,000

Each higher account brings in more margin loans, sessions with a market analyst, swap discounts, and more assistance from the company side. However, it’s not remotely enough to justify paying money to an unlicensed scheme broker.

Can a Trader Use a Demo Account?

Another thing we’re missing is the TradeMarketsPro Demo account. You cannot use the free trial because you’d understand how lousy the offer is.

While the brokerage promises user-friendly, flexible, and secure trading, you have no safety of any kind. If something goes wrong, you cannot file a dispute with the regulator or get reimbursed from a compensation fund.

Are Legal Documents Really Legal?

There’s not much information in the Terms and Conditions, while the Privacy Policy is even more obscure. You can find some basic things about trading, presumably taken from similar scam sites, such as Bitchain.

However, you won’t find anything about legal jurisdiction, the owner you can name in a lawsuit, or similar. As a matter of fact, such legal documents without any legal points further prove that TradeMarketsPro cannot be trusted.

What Should I Do If I Was Scammed by TradeMarketsPro?

If TradeMarketsPro scammed you, it’s crucial to start legal action immediately. You must request a chargeback or any other type of fund recovery.

Since this company didn’t list available payment options, we advise you to consult with professionals. We’ve been working on fund recovery for years and have assisted numerous clients so far. Therefore, don’t hesitate to book a free consultation and share your story!

What Is TradeMarketsPro?

TradeMarketsPro is an anonymous unregulated trading brokerage allegedly based in the UK.

Is TradeMarketsPro Available in the United States or the UK?

The firm is available in the UK but doesn’t offer services to the residents of the US.

Is My Money Safe With TradeMarketsPro?

Since the broker is unregulated, there are no guarantees that you will be able to withdraw your profit from the TradeMarketsPro account.

Upon receiving numerous complaints about BUX Forex, we’ve decided to review their business. The broker started operating in June 2022 and has already shut down its domain. Typically, when something like this happens, it’s clear that the brokerage was founded with one goal – to extort as much money as possible.

Read our comprehensive BUX Forex review to find out more.

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

Is BUX Forex a Licensed Broker?

BUX Forex claims to be owned by BUX Financial Services Limited, based in the UK. This company has an FCA license and is perfectly safe to trade with. 

However, the issue is that BUX Forex is unrelated to a regulated brokerage. BUX Financial Services Limited operates under buxmarkets.com and has no other domains. Thus, BUX Forex is an anonymous, unregulated trading firm that can easily run its business offshore.

Reasons Not to Trust an Unlicensed Broker

Unlike genuine UK-licensed brands, BUX Forex doesn’t need to have minimal operational capital, limit leverage, or keep clients’ funds in segregated accounts. Regulators imposed all these measures to reduce risks.

Scammers don’t comply with any rules or regimes and provide unlicensed financial services. That puts clients at risk as the firm can vanish at any time, just like BUX Forex did.

Is BUX Forex a Trustable Broker?

BUX Forex is an illegal brokerage, allegedly operating from the UK. The company shut down its domain, leaving thousands of customers without their money. The UK regulator has issued a warning against fraud.

Warnings From Financial Regulators

Once we checked BUX Forex’s alleged license with the FCA, we found a warning instead. Since the regulation is false, this authority body warned citizens that BUX Forex is a clone firm and to be careful.

When a company is not under the FCA umbrella, clients cannot get reimbursed from the FSCS compensation scheme or get help from the Financial Ombudsman. That’s why dealing with bogus trading platforms is not recommended, as your money is at risk.

What Do Traders Think Of BUX Forex?

BUX Forex is not very popular among traders. Since the domain was shut down, clients have reported the firm. They can no longer access their funds or trading accounts and all the alleged profits.

As they describe, BUX Forex has good advertisement, presenting itself as a trustworthy, FCA-licensed brokerage. Once the money was gone and their withdrawal request was not approved, traders understood that they had been dragged into a scam.

What Platform Does BUX Forex Provide?

A part of this broker’s advertisement strategy was trying to sell MT5. Allegedly, they offer access to MT5 as WebTrader, desktop, and mobile app.

Once we wanted to check the platform, we were prompted to download a proprietary trading app. Since there are numerous risks when downloading an unknown file, we withheld it.

Instead of risking your money and personal data with unknown software, you can start trading with a legit brokerage. They offer actual MetaTrader, whether MT4 or MT5. With these two, you’re securing yourself the best trading experience with the largest number of TAs.

BUX Forex – Countries Of Service

BUX Forex mainly operates in:

• Netherlands
• Cyprus
• UK
• US
• Belgium

Since the firm is not licensed, your funds are at risk.

So, you should avoid BSTrade forex broker and similar brokers such as RoboFXtrade, TopTrade500 and K7 Trade.

BUX Forex Range of Trading Markets

This brokerage offered access to all five markets:

• Forex – EUR/USD, AUD/CAD, GBP/SEK
• Commodities – gold, oil, silver
• Indices – Dow Jones, NASDAQ, FTSE100
• Shares – Amazon, BMW, Google
• Cryptocurrencies – USDT, USDC, SOL

Note that we cannot confirm this without platform access.

BUX Forex Minimum Deposit and Withdrawal Terms

BUX Forex broker didn’t bother much with transparency. It didn’t list any account types, minimum deposits, or withdrawal terms. 

Since the website has been shut down, it’s no longer possible to submit a withdrawal request. We’re unsure if this will be possible in the future, so the best thing you can do is to report the scam and try to recover your funds.

Methods of Making a Deposit

While the website promised various payment methods, BUX Forex disappointed us once again. The only available option is crypto, that being:

• BTC
• USDT

Scammers will try to convince you that your funds are lost for good once you use digital coins. Don’t fall for it, and start the recovery process today!

Scammed by BUX Forex Broker? – Let Us Hear Your Story

If you fall victim to a BUX Forex scam, let us know. Our recovery specialists may be able to assist you with the refund.

Don’t let scammers keep your hard-earned money. And don’t be ashamed of telling your story. We’re here to help! Book your free consultation now, and let’s begin!

What Is BUX Forex?

BUX Forex is an unlicensed clone trading brokerage banned in the UK.

Is BUX Forex a Scam Broker?

BUX Forex is a scam brokerage that the UK FCA has banned.

Is BUX Forex Available in the United States or the UK?

The brokerage provides its services in the UK and the US with no regulations.

Does BUX Forex Offer a Demo Account?

BUX Forex doesn’t offer a Demo account to its clients.

If you try to find any helpful information on the Action Sure broker website, you won’t be able to. It’s missing any tabs or details about the company’s operations. They’re inviting you to trade, promising training and fund protection. 

Did they deliver? Let’s see in our detailed Action Sure review.

Is Action Sure an Unregulated Forex and Crypto Scam?

First of all, the entire website is in French, meaning they’re luring French-speaking customers. However, the company has no valid address or legal documents where we would be able to see the owner, legal jurisdiction, and more.

Based on this mere indication of language, we searched for regulations in the registers of AMF, FINMA, FSMA, IIROC, and other Tier 1 records. As you can assume, our search yielded no results.

If actually licensed, Action Sure broker would need to follow specific rules, including transparency about trading conditions and legal information. We know nothing about the leverage, minimum deposit, or anything of value. Therefore, we can conclude this is just another bogus website extorting money from inexperienced investors.

Warning Issued by Financial Authorities

Since the company targets French-speaking clients, no wonder that the French regulator was the one to issue an official warning. In May 2023, AMF added action-sure.com to a list of fraudulent Forex sites.

The regulator warned that this company has no authorization to offer Forex trading and is, therefore, blacklisted. This is the official proof of our claims that should definitely dissuade you from investing.

Where Does the Broker Operate?

The domain of this brokerage was registered in March 2022, but WHOIS details are hidden. It usually means they didn’t want to display the owner or headquarters publicly.

According to traffic research, the company mainly operates in the following countries:

• France,
• US,
• UK,
• Canada,
• India.

Since the French regulator has already issued a ban, we expect others to join as well. Your story can help us out and provide more evidence for everything we’re trying to prove.

Action Sure Platforms – Software Comparison

If we were to believe this website, it says that Action Sure offers WebTrader and some sort of MT4 distribution. However, once we registered an account, we were only granted access to browser-based software.

It remains unknown whether there are certain conditions you must fulfill before getting MetaTrader or if it’s not actually on offer. It wouldn’t be the first time to see unlicensed brokers abusing the popularity of third-party tools and advertising them as their own.

All in all, we advise you to stick with legitimate companies that will provide you with MT4 or MT5 access instantly without promising something they cannot deliver.

What Assets Can I Trade?

Suppose you still want to register with Action Sure, which we don’t recommend. Here are the available trading assets you’ll be given:

• Currency pairs – EUR/USD, GBP/NOK, AUD/SEK
• Cryptocurrencies – BCH, USDT, MATIC

The company is educating its investors about what the spread is and what types of spreads exist, but without giving exact details. In addition, leverage and other fees are also hidden, leaving us with nothing. 

False Achievements of Action Sure Broker

The website claims the following:

• 9,998 open positions daily,
• 450 registered customers a week,
• 800 daily traded value.

However, these numbers are unreal even for some licensed companies, not to mention fraud like Action Sure. In addition, they claim to provide their clients with fund segregation, privacy, risk management tools, and a trustworthy platform.

Yet, we don’t know where the money is held, in which banks. Additionally, we cannot guarantee that your details will be private as the brokerage is not under regulatory supervision. Finally, they claim to monitor your trades and warn you about risks, but without specifying if they offer negative balance protection, Stop Loss, or any other useful feature.

All in all, lots of boasting without backup evidence.

Action Sure Withdrawal Procedure

Another thing we’d like to know is the payment system. Can you use your debit card, bank transfer, crypto wallet, or something else?

Unfortunately, the brokerage was so eager to display its phony achievements that it forgot to include a section about deposits and withdrawals. All you can see is that there’s no commission for a deposit. Yet, how much you’ll have to pay remains hidden.

Without legal documents, we’re unsure if getting your money back is even possible or if the whole idea of this website is to trap your money and vanish. This is why we urge you to be careful with scammers such as Action Sure and Axiau.

Action Sure Broker scammed me, What Are My Options?

If you fall victim to trading fraud, it’s important to report it immediately. It’ll raise awareness and pressure authorities to react.

You can also contact our chargeback experts and CipherTrace crypto analysts to help you with fund recovery. We’ll book a free, non-obligatory consultation and find a way to collect enough legal evidence for a dispute. You’re not alone! We stand with you!

What Is Action Sure?

Action Sure is an unregulated trading brokerage banned by French authorities.

Does Action Sure Offer a Demo Account?

No, Action Sure doesn’t offer its customers a risk-free Demo account.

Is Action Sure a Regulated Broker?

No, Action Sure is not regulated. Instead, the company is banned by the French AMF.