The short-lasting scheme exposed in our Nefinex review focused on stealing crypto investments through various popular traps. Some of them were airdrops, promotions and high returns on crypto investments. While the false claims were everything these fraudsters had to offer, countless were left broke as their crypto assets disappeared.

It would be wise to pay attention to the following lies as we expose the criminals and reveal potential ways for fund recovery.

Illicit in Every Way Possible

The Nefinex exchange failed to provide any legal information on their website. The absence of legal papers was the most evident proof of the company not being a legitimate entity. None of the corporate information was also available. While illicit platforms usually like to present forged data about their legal incorporation, these swindlers didn’t even bother to come off as legit.

Since we could dig up no useful information about this false crypto provider, we tried searching through databases of regulated entities. Alas, FCA, BaFin, CySEC, ASIC and other financial watchdogs have no records of this business. The existence of this entire scheme was questionable to say the least. 

False Promotions on Social Media

With a domain established in April 2024, these schemers sure didn’t hold long before shutting down the Nefinex website and running away with all of the deposits. According to the reports, the majority of victims were located in these countries:

• South Africa
• United Kingdom
• United States

What made investors interested in investing in the scheme were social media posts about free Bitcoins. These seemed to be promoted by famous entrepreneurs and content creators, such as Elon Musk, Mr. Beast and others. 

Deep fake videos of celebrities advertising airdrops and fancy promotions often deceives amateur investors and makes them rush to invest. The results are, unfortunately, compromised crypto wallets and stolen coins.

Anonymous Unrated Platform

It is quite difficult to find any Nefinex reviews around, considering that the project went down less than two months after the installment. Several reviews on Trustpilot, however, confirm our doubts about this dubious crypto portal.

You see, clients that were robbed are expressing their concerns about withdrawals. Others who were defrauded openly admitted to buying into the deal because it looked like famous people promoted it. If you are dealing with similar difficulties, consider contacting our chargeback service.

Key Tactics: Hidden Fees

One well-known technique used by textbook fraudsters like Xpress Fund and many others is concealed costs. These secret fees usually come into the picture when the client wishes to withdraw their profits or the initial investment. The cons will demand upfront fees to release the profits or restore the original deposit.

Another worrisome fact is that no trading costs and commissions are also revealed. Leverage, taker and maker fees and other costs that clients usually have to pay are all carefully hidden.

False Features Lure in Victims

Free crypto coins were just one of the details of the grand scam scheme. The perpetrators behind the Nefinex crypto trickery also claimed to provide the latest trading technology and the most competitive user support. It seems that this couldn’t have been any further from the truth, sadly.

Trading Never Happened

The Nefinex app was advertised as the most recently developed piece of online trading software that does miracles. It was promised to be intuitive and user-friendly yet rich in features and extremely fast. 

However, all it did was lure in unsuspecting victims to invest money. No trading here ever took place and the faulty terminal was just a part of the deception.

Not Many Assets to Choose From

Besides claiming to provide extremely good conditions for buying and selling Bitcoin, Ethereum, and Litecoin, there was no other mention of available assets. 

Popular and established crypto exchanges usually provide access to hundreds, if not thousands, of crypto coins for investing in. These charlatans obviously could do even that much.

Quick Registration

There were absolutely no demands or conditions for creating a Nefinex login. New clients who wanted to sign up could do so just by providing an email address and a unique password. Of course, regulated platforms would demand identity verification and other procedures to be completed before investing.

False digital assets investment portals only want you to invest, so that’s why they don’t make a fuss when it comes to registration.

No Word About Payouts

The Nefinex scam was known for blocking all withdrawal attempts and coming up with various excuses to extort more money from investors. Usually, clients are led to believe that advanced fees are a necessary condition for releasing their profits. 

When more fictitious fees get added to that, there’s nothing left for the clients to withdraw at all. This discourages them from even asking for what is rightfully theirs.

In addition, all of the transactions on this platform were conducted through anonymous crypto wallets. That allowed criminals to quickly misappropriate other people’s digital capital yet remain under the radar.

Contacting Not Allowed

Despite the website presenting several ways to reach out to the user support channel, no contacts were accepted. The company was only trying to create an illusion of having a supportive and dedicated client assistance team. None of that was anywhere close to reality, just like the rest of their offer, similar to FusionLots.

Get Your Assets Back!

Retracing crypto transactions is a complicated and demanding procedure. It requires skill and specialized software solutions that our legal experts have. So if you would like to know more about how you can track your crypto assets and determine where they went, you should contact our blockchain experts.

We offer in-depth explanations on how fund recovery and chargeback work, in addition to the legal help we provide. If you need such help, you should book a free consultation with our legal professionals.

FAQ Section

What is Nefinex?

Nefinex is an inactive crypto trading platform that used to promise high returns and free crypto coins.

Is Nefinex Legit?

No, the business didn’t exist outside of the internet and did not have a single license for their operations.

How to Get My Crypto Out of My Nefinex Account?

Since withdrawals are blocked you should consider looking for professional help with money recovery. We offer such services so contact us promptly.

This little known brokerage platform claims to have the future of online trading in their hands. Based on the false corporate information, we can only say that those are just lies that attract unwary investors and facilitate the scam. 

If you don’t wish to suffer the same fate as those who have lost money to this charade, consider reading this Sol Markets review.

Misleading Legal Details

Sol Markets broker claims to be legally incorporated on two addresses in the UK and Australia. That would mean the firm has acquired a Forex certificate from FCA and ASIC. However, checking both of these registers of regulated online trading companies resulted in no matches.

Our investigation was expanded to other regulatory databases maintained by prominent authorities, such as CNMV, BaFin, NFA, and CySEC. Yet, none of these authorities has ever issued a license to this shady business. 

Operating without a permit means that the conduct doesn’t provide safety of funds, segregated bank accounts or compensation options. Make sure to choose a brokerage that can offer these conditions.

Deceptions and Lies About Profits

Considering the scheme has been active since 2022, it’s only a matter of time before financial watchdogs start issuing public warnings against this dubious platform. Especially because the majority of the traders that have fallen victim to the sham reside in well-regulated countries:

• Spain
• United States
• United Kingdom
• Canada
• Peru

If you start getting suspicious, unsolicited phone calls from alleged Forex professionals who want you to invest in their proposals, make sure to avoid them. These are boiler room agents that promote illicit brokerage websites that steal money from investors while claiming to double the profit or guarantee even higher returns.

Reviews Don’t Reflect Reality

Since there’s no Sol Markets reviews anywhere else online except on Trustpilot, we were immediately suspicious of their origin. Once we started analyzing the content, it was clear that all of them come from review selling networks.

These are other forms of scam and deception that help unscrupulous brokerage firms build false reputations and deceive new clients into becoming their victims. Newcomers are tricked into believing the feedback to come from real customers and are easily convinced to invest, too.

Absurd Costs

Despite legal documents being available even for those who haven’t created a Sol Markets login, they contain no information about costs. The only fee ever mentioned in legal papers is a 10% withdrawal fee on every transaction.

After joining the platform, we tried to obtain information about trading terms from the webtrader itself, but that effort was also futile.

Spreads on some of the instruments were measured in hundreds of pips and kept randomly changing. On the other hand, leverage was mentioned only once in the Bonus Policy, which states the maximum ratio to be 1:100. Novazx also employs a similar strategy, so make sure to avoid them as well.

Bonuses Have to be Requested

After signing up for using the Sol Markets app, traders can only be credited with a bonus incentive if they email the company and ask for it. Concrete amounts are not disclosed. It is, however, explained that the minimum trading volume for credited accounts has to reach a number of lots, which is equal to the bonus amount divided by 4.

Features as Products of False Marketing

Whoever explores the website a little more thoroughly will quickly realize that the firm has nothing of value to offer. Dreadfully expensive accounts promise fictitious and unrealistic benefits, while the trading platform has quite literally gone insane with the parameters. If you value your money even a bit, stay away from this portal.

Bold Claims for a Defunct Terminal

The ridiculously pretentious website describes the Sol Markets WebTrader as “the world’s most famous web-based trading platform.” As if these claims weren’t enough of a joke, the software performs worse than commonly found bogus web terminals. The charts do not move and resemble pictures, rather than functional software.

Discrepancy in Asset Descriptions

The website lists several asset groups, such as:

• Crypto Currencies – BTC, ADA, DOT, SHIB
• Currency Pairs – EUR/USD, USD/JPY, USD/CAD
• Indices – USA 500, CAC 40, FTSE 100 
• Metals – Gold, Silver
• Energies – Oil, Natural Gas
• Futures – commodity and index futures
• Shares – Amazon, Tesla, Netflix

Despite these instruments presented, the webtrader only allows access to cryptocurrencies. It is questionable if these tradable products are indeed available or just advertised.

Accounts Promise Everything

It’s been a while since we’ve last reviewed a platform that has gotten so creative in lying about the features supported. 

Each of the trading accounts sold by this fake Forex dealer allegedly grants access to various benefits. Some of them are professional account managers, guaranteed income, secure trades, personal accountants, insurance recovery, and signals. The prices are only designed in accordance with the following:

• Standard – $10.000
• Silver – $50.000
• Gold – $100.000
• VIP – $250.000
• 1 Million Club – $1.000.000

Payout Requests Process Forever

Sol Markets withdrawal policy is found as a part of the T&C document and comprises several confusing lines. Processing time for withdrawals is claimed to be 30 days, which is simply unacceptable considering today’s technology. 

The minimum withdrawal amount is $50, and credit cards are allegedly the only accepted method for account funding. However, none of this information could be verified. Swapsimple is another swindler that won’t allow any withdrawals, so contact us for help.

Shady Contact Information

There are several phone numbers, an email address and an option to send an online written inquiry to the company’s support office. 

We wouldn’t recommend you share your contact information with this website’s operators, as they may as well start pestering you to invest more. Besides, it is well known that con artists couldn’t care less about their clients’ troubles.

Look For Reliable Brokers!

Victims of the Sol Markets scam shouldn’t hesitate to contact our legal office and get help with fund recovery. Our chargeback professionals are always at your disposal and offer legal advice and guidance.

Other traders should carefully avoid this sham and not fall for the same investment trap as some already have. If you want to have a chance at earning money in financial markets, you have to pick a properly regulated Forex provider. Otherwise, you’re in for a loss.

FAQ Section

What is Sol Markets?

Sol Markets is an unscrupulous online trading portal that sells overpriced services and lies to customers.

Is Sol Markets Legit?

No, the firm is not regulated by any financial regulator, despite their claims about being legit.

How to Get Money Back From Sol Markets Broker?

If you seek help with investment recovery, we recommend you contact our chargeback experts.

If you enter the official website of 365Falcon broker, the first strange thing you’ll notice is the absolute anonymity. In the About Us section you can see two subsections called FAQ and Contact Us. After checking them, you won’t see any data besides the email. Legitimate brokers always mention the name of the parent company, cell numbers, headquarters address and attach files with official documentation. When it comes to 365Falcon, they neglect transparency, which is unacceptable in the financial industry.

What About 365Falcon Regulation?

So, In the case of 365Falcon, we are faced with an impenetrable veil that can hide experienced scammers behind it. In addition, we didn’t find any data on the regulation or even licensing of the company’s financial activities. The databases of the FCA, ASIC, BaFin, CySEC and other reliable regulators don’t contain information on broker supervision. This indicates that this broker cannot be trusted due to the lack of the minimum required data on the owners, as well as the lack of regulation. 

In addition, we strongly advise you not to invest in Capital Index Fund, Ruby Finance and TradeSmart1 fraudulent brokers.

365Falcon Warnings From Financial Regulators

Although we were unable to find regulatory data, we did find a mention of 365Falcon on the FINMA warn list. On February 3, 2022, the Swiss regulator added the broker to its blacklist. FINMA conducts investigations against organizations and individuals that engage in unauthorized financial activities. According to financial authoritie’s claims, if they receive information that an investment company is knowingly or unknowingly acting without authorization, they start an investigation. Therefore, now we can say for sure that 365Falcon is not subject to financial authority.

365Falcon Assets and Trading Conditions

365Falcon trading conditions assume that you are over 18 and can make a minimum deposit of $250. You are given to choose from 4 available account types: 

• Tour for $250; 
• Basic for $10,000; 
• PRO for $100,000; 
• VIP for $1,000,000. 

Unfortunately, the official website doesn’t include a separate section on trading assets. However, the animated picture of the smartphone on the home page shows several options for assets: 

• Forex; 
• Cryptos; 
• Commodities; 
• Stocks.

Nevertheless, depositing more than $250 into an account opened by an anonymous broker is extremely dangerous for your financial independence. 

Withdrawing Issues

Although you can see the Visa and Mastercard logos on the broker’s website, the scammer will most likely prefer to receive your money through shady payment systems. Many 365Falcon reviews from deceived depositors have complained that they have invested in cryptocurrencies and cannot withdraw a single cent. It is known that most scammers prefer crypto transactions as this is the easiest way to misappropriate money. 

Who are at Risk?

While anyone can fall victim to a broker scam, the majority of 365Falcon complaints come from citizens of Germany, the United Kingdom, Ireland and Australia. Although the listed countries have their own financial authorities, people still neglect to verify the data.

Traders About 365Falcon Scam

Most 365Falcon complaints from traders are completely negative. Many customers are dissatisfied with the quality of service: “They are constantly harassing me, being very rude on the phone.” 

Others suffered much more – they lost their money after getting caught into a sophisticated fraudulent scheme. “They will then tell you your money has been sent to an escrow wallet in “blockchain” this too is a total scam.” Clearly, the broker uses marketing gimmicks to lure clients into their web of scams. 

How Does the Scam Scheme Work?

Actually, the scam methods of 365Falcon broker are pretty trivial. First, the company strives to build a credible image with a professional-looking website and beautiful promises. Secondly, for some time after opening a client account, the broker makes you believe that everything is going well and you are making a profit. Finally, after additional investments, the managers disappear and your account is blocked.

Also remember the names of the Assetshaus, Energy Markets and CTX Prime trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

Scammed by 365Falcon? – Tell Us Your Story

If you have any 365Falcon issues, please contact our managers via online chat. Share your story after signing up for a free consultation. Our team of experienced experts is always ready to help honest investors regain their financial independence. 

But What Is A Chargeback?

During our work, we usually use the fastest and most reliable way to recover misappropriated funds. You have probably heard of the chargeback method. Collect evidence against the broker together with our specialists of the funds recovery department and get your money directly to your bank account!

What Is 365Falcon?

365Falcon is a financial institution offering trading related services. The company is not worth the trust of investors, as it is blacklisted by FINMA.

Is 365Falcon A Scam Broker?

Yes, the company has scammed hundreds of honest investors around the world.

Is 365Falcon Regulated?

No, the broker doesn’t have regulation or at least license.

One of the very unlogical things about the company is a lack of ownership details. Yet, they are keen to talk about the GDPR.

Since 2021, this firm has been operating on European soil, but there are too many irregularities in their services. To find out what could cost you heavily, read this Boney Market review carefully.

Legal info: Is Boney Market legit or a scam?

As the main regulator in Bulgaria, we find the Financial Services Commission (FSC). However, Boney Market is not listed in their database of regulated entities. Non-surprisingly, the situation is the same with even top-tier regulatory authorities, starting with the BaFin, FCA, ASIC and CFTC.

Therefore, all the features this broker offers can be considered fictive, especially funds protection features. In general, the UK traders can sleep tight knowing they could get up to 85.000 GBP compensation with FCA-regulated firms. With the BoneyMarket scam company, you can only get sick.

Who are Boney Market’s clients?

Research shows that Boney Market forex company mainly targets Europeans. Yet, there are some countries on their restricted list. To make the matter funnier, some clients are also coming from those countries, showing us that the brokerage doesn’t follow its own policies. Mainly, scammed victims are from:

• Turkiye
• United States
• Cyprus
• Montenegro
• Canada

Since very few people talk about this company, feel free to leave a comment below. Share with us your experience with the broker or contact us directly if you need refund advice.

Leverage, Commissions, Spreads, Fees and Taxes

If you see a broker from Europe offering leverage higher than 1:30, you know there is something wrong. Instead, Boney Market FX brokerage offers up to 1:400. Not only it’s dangerous, but it can get you into debt, since the negative balance protection feature is missing.

Spreads seem quite narrow according to their presentation. Yet, the presentation is not showing the live data on the platform. Therefore, too cheesy. Important to note is that none of the other fees and commissions are revealed.

Bonuses

One of the key warning signs is the Boney Market trading bonus. Apparently, for every investment you make you could get a bonus. However, without a transparent bonus policy, you don’t know the hidden tricks.

Most likely, the bonus includes a policy that prevents you from withdrawing the funds. To see how that works, read our Exobit review.

Boney Market Trading Features

Practically whole business is based on manipulation and lies. Whoever joins, great. The company is mainly targeting inexperienced traders. 

Yet, there is only one positive thing about the company, which is their trading software. This is a perfect example of why you shouldn’t make a decision on that. Instead, you should do detailed research.

Trading Platforms Available

The software choice of this investment firm is highly popular MetaTrader 4. With all of its features, like social and copy trading, EAs and many more, it’s definitely a proper choice. But, if the company is not licensed you won’t reap what you sew.

Available Trading Assets

Apparently, the company offers 130 instruments from 4 categories. In any case, this doesn’t present any relevant detail to any experienced trader. Generally speaking, nothing that you can’t find with other brokers. The offer consists of:

• Forex – GBP/JPY, AUD/NZD, EUR/HUF
• Commodities – gold, platinum, natural gas
• Indices – DAX30, ASX200, FTSE 100
• Cryptocurrencies – BTC, LTC, ETH

Account Types

In fact, this brokerage doesn’t offer any benefits for higher deposits or trading volumes. Compare it with the Forex Trading Market broker, that shows you directly how much they want from you. In any case, traders can only choose one live account. Of course, none of the trading conditions were transparently revealed.

Mobile Trading App

One of the positive things about this company is the MT4 mobile app availability. This way, all iOS and Android users can use all the features. But if they will enjoy those, we highly doubt. If you think about it, nobody who gets ripped off is not happy.

Demo Account

Apparently, Boney Market brokerage offers a demo account. With $10k virtual funds, you can test your strategies but also their tools and features. However, to get that you need to complete the full registration form. This includes a phone number, so expect to be harassed.

Education

As for education, the company only offers 5 articles about general trading topics. Yet, none of the advanced features are available, such as live sessions or webinars. 

To be honest, even if there are those options, the company is not regulated. Therefore, the outcome could be disastrous.

Boney Market Withdrawal

Withdrawals are the point where it gets interesting. Practically, the company doesn’t reveal any details about it. Since their T&Cs page is not working properly, we can only assume they don’t have it at all. Otherwise, they would expose all their scamming signs.

In any case, withdrawal fees, processing time or methods remain unknown. But with their funding methods like wire transfer and crypto, you can’t expect to get your funds back. At least not from the broker. Only via alternative refund methods.

Customer Support

The company offers phone numbers for offices in 6 countries across the world. Thus, none of those present any credibility to experienced traders. Neither are their e-mails. Especially the one based in the UK.

At least, the company reveals working hours. Support is available between 9 AM – 6 PM. Most likely, Central European Time. In any case, not something promising.

Key Information To Consider About Boney Market?

Primarily, the company is operating on European soil without any adequate regulations. Secondly, there are no transparent legal documents. Lastly but most importantly, they do not offer transparent trading conditions or withdrawal policies.

All in all, you don’t have a single reason to trust this company. If you already did and regrated, contact our refund experts for assistance. Don’t worry, our first consultation is free and doesn’t hold any obligations. Book yours now!

FAQ Section

What Is Boney Market?

Boney Market is a Bulgarian FX and CFD brokerage operating since 2021 without any regulations.

Is Boney Market A Scam?

Absolutely. It’s just a matter of time before regulators start publishing warnings against the company. Primarily because they lack licensing.

How Does Boney Market Work?

They are manipulating traders on different levels. But mainly about withdrawals. If you experience any issues there, contact our refund team for help.

One of the most important things when looking for a trading brokerage is their license. If a company is unregulated, like Clover Markets FX you’re not protected and cannot request assistance from the financial authorities in case of an adverse outcome.

This is why our detailed Clover Markets FX review will deal with the company’s regulatory status, but also other issues. Don’t leave until you read everything.

Legal Information: Clover Markets FX Regulation

In the website disclaimer, Clover Markets FX claims to be a brand of Clover Market Co. Ltd registered in Thailand. Upon checking the Companies House of the country, we found this untrue. Such a company has never entered the local commercial register, meaning it doesn’t exist.

Furthermore, the Forex market is regulated by the local Central Bank, BOT. Their register once again showed no results for this company or their alleged owner. All this means that the company operates illegally, and your money is unsafe.

Who Are the Victims of Clover Markets FX Scam?

Now that we’ve determined whether Clover Markets FX is legit, let’s move on. Let’s see how the brokerage finds victims and where.

Like most scammers out there, they advertise their services through social media channels, such as Instagram, Facebook, and YouTube. However, the links on their website leading to official channels are actually redirecting you to send an email. Therefore, they have no genuine pages, only fake adverts.

According to website traffic analysis, the majority of scam victims come from:

• Thailand,
• US,
• UK,
• South Africa.

Clover Markets FX website domain was registered in May 2020, and the brokerage has been soliciting investors ever since.

Trading Features – CloverMarketsFX Trading Platform and Accounts

Another critical aspect of any brokerage firm is its trading features. If the platform is not good or there is not a wide enough range of trading assets, you might miss out on certain opportunities. This is why we will review everything this broker offers.

Available Trading Platform

According to its website, Clover Markets FX offers its customers the latest distribution of MetaTrader, MT5. It’s an immense platform with a vast number of tools, including EAs and social trading.

Note that none of the icons leading to the platform are functional. Therefore, we cannot confirm whether the platform is MT5 or some poor proprietary software that scam brokers usually offer.

In addition, it’s unclear what trading assets are on offer. For instance, the website advertises over 200 different CFDs but without specifying any. From the online reviews, we understood that you could trade Forex pairs, commodities, indices, and shares. It’s unclear whether crypto trading is available or not.

Mobile Apps

In addition to Windows and macOS, there are Android and iOS mobile app icons. Like desktops, they’re advertised as MT5. However, we weren’t able to access them either, meaning we cannot confirm anything.

Demo Account

Sadly, the company doesn’t offer a risk-free Demo account. In fact, Clover Markets FX login is only possible after investing the initial sum. This leads us to suspect that they really offer MetaTrader platform. As you may know, most MT5 distributions come with a dedicated trial account.

Leverage, Commissions, and Trading Fees

Welcome to another section of the unknown. The company has no dedicated account types and doesn’t specify the trading terms. The leverage is hidden, and so are trading costs.

If you’re wondering how much you should pay for spreads and swaps, we cannot answer. You seem to have no choice but to start the account with the minimum deposit and see for yourself. The only problem is that the minimum deposit is also unknown.

Clover Markets FX Bonuses

The only thing that’s clearly specified is the deposit bonus. After activating your trading account, you can get a 25% deposit bonus of up to $500. With it, you can increase your trading capital.

However, you should be aware that bonuses and other incentives are prohibited by most Tier 1 regulators, such as FCA and ASIC. This is because scam brokers use malicious clauses to prevent their victims from withdrawals. Sadly, this firm has no legal documents that would elaborate on bonus terms.

Clover Markets FX Support Team

The company’s website offers phone number with Thai country code and social media links. However, these links actually lead to sending an email rather than accessing Instagram or Facebook pages.

In addition, there’s no online chat, meaning that instant support is not available. If you have any urgent questions, you can only hope the broker’s call center works 24/7. Furthermore, the reviews indicate that customers who need help with Clover Markets FX withdrawal were ignored and never received the necessary assistance.

Withdrawal Methods – How to Get My Money Back?

Without legal documents, we cannot determine whether there are any withdrawal fees. In addition, we didn’t find a list of payment methods you can use for a deposit or a withdrawal.

All in all, we cannot say that this company is very transparent. Just like InvestusPro, this company is hiding all the relevant information. This is a final red flag and a final reason for you to avoid it.

What to Do If I Was Scammed by Clover Markets FX Broker?

Let us know if Clover Markets FX or any similar unregulated trading brokerage scammed you. Our chargeback experts and CipherTrace crypto analysts may assist you with this issue and find a way to help.

It’s important to act quickly and find the best recovery method. Scammers quickly disappear with clients’ funds, so you must act promptly. Book a free consultation with our financial experts today, and let us evaluate your case in detail.

FAQ Section

What Is Clover Markets FX?

Clover Markets FX is an unregulated Thai-based trading brokerage. If you experience any issues with this firm, book a free consultation with our recovery experts today.

Is Clover Markets FX Available in the United States or the UK?

The company provides its services in both countries without valid financial regulation.

Does Clover Markets FX Offer a Demo Account?

No, Clover Markets FX doesn’t offer a risk-free Demo account for its customers.

The broker FXLiveCapital is one of those you wish you’d never met. The company looks rather solid; the website is designed nicely and drags attention. But just for a while. Once you start reading about the Terms and Conditions, regulations, and more, you will understand this is not a place for your money. 

Read our FXLiveCapital review and find out all about this offshore broker.

Is FXLiveCapital Regulated? – Beware Of Fraud

While the disclaimer tells us that FXLiveCapital is registered as “LLC with the number 25735 BC 2020,” the regulation section states, “the registration number is 884 LLC 2021.” So, mismatch of basic information. And a red flag at the very start. Furthermore, even though the name of the website section is Regulations, we haven’t seen anything about FXLiveCapital’s regulation.

In addition, we strongly advise you not to invest in IndexEvolve, Capital Index Fund and Valiant Markets fraudulent brokers.

Does the Broker Have a Tier 1 Trading License?

Since the company is (allegedly) registered in Saint Vincent and the Grenadines, it implies it has no license. The FSA, the regulatory body of SVG, clearly stated it doesn’t register Forex or binary options firms, only banks, insurance companies, and pension funds. All others should opt for a license in the country of service. 

And according to our review, the FXLiveCapital Forex broker hasn’t done so. There’s nothing with the FCA, ASIC, BaFin, or any Tier1 regulator, as a matter of fact.

Where Is FXLiveCapital Trading Scam Active?

When it comes to the FXLiveCapital trading scam, you can find the broker anywhere. There are very few restricted areas, including Sudan, Syria, North Korea, Saint Vincent and the Grenadines, and Cuba. Every other country is on the list, and most FX Live Capital complaints come from the US, Singapore, and Canada.

FXLiveCapital Trading Reviews – Opportunity or Trading Fraud?

To clarify, FX Live Capital broker is not a trading opportunity. It’s a scheme with no license and no recovery funds. Once you lose your money, there won’t be an authority body in charge to reimburse you, and all you can do is try and get your money back by submitting a chargeback request. 

Our verdict – stay away from the FX Live Capital scam by all means.

What Trading Platforms Are Available? – Trading Software

Without being unfair to the brokerage, we will admit that FX Live Capital’s trading platform is impressive. The company offers MT4 as a desktop app, web version, and mobile app.

FXLive MT4 Platform

MT4 and its successor, MT5, are considered best of the best when it comes to trading software. However, every company determines its own trading conditions, and it can significantly impact the outcome of your trades. For example, FXLiveCapital provides unregulated leverage of up to 1:500, putting your money at risk.

Mobile Trading Apps – iOS & Android Trading

If you want to enable FXLiveCapital login on your mobile device, you can download the MT4 app directly from the broker’s website. You will see the simplified desktop app on the go.

About Prohibited Countries

As we’ve already mentioned, FXLiveCapital has a few prohibited countries, including Sudan, Syria, North Korea, Saint Vincent and the Grenadines, and Cuba. Since the company is allegedly listed in SVG, it’s rather odd it doesn’t provide domestic services. Maybe they simply don’t want to risk being exposed as a scheme.

FXLiveCapital Scam Victims

If you read FXLiveCapital reviews, you will find that victims come from all around the globe. Nothing stops this fraudulent firm from scheming since they know they have no license to lose.

Also remember the names of the EUFinance, Morgan FX Capital and  Radex Markets trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

FXLiveCapital USA Traders

Unlike others, FXLiveCapital accepts USA traders, so you should be very careful when dealing with this firm since it has no CFTC or any other valid license.

What Products Does FXLiveCapital Offer?

FXLiveCapital offers the following trading instruments:

• Forex (currency pairs)

• Commodities

• Indices

• Shares

• Crypto

Trading Accounts Overview – What The Broker Offers?

There are only 2 FXLiveCapital account types, including:

• Classic – $100

• Professional – $500

Besides, there is an FXLiveCopy Trader account, for social trading, with the FXLiveCapital minimum deposit of $100. You can choose between MAM and PAMM accounts of all types.

Demo Account – Risk-Free Environment

Sadly, FXLiveCapital Demo is unavailable, so you’ll have to pay to check the offer.

FXLiveCapital Withdrawal Issues

Of course, there are a number of reports about withdrawal issues. Since this firm is not legitimate, it has no problems with stealing money and disappearing. And that’s exactly what they did. Once they extort everything you have, they will simply freeze your account and disable access to your funds. 

What Can FXLiveCapital Fraud Victims Do?

If you find yourself scammed by FX Live Capital, let us know. Our chargeback specialists will be more than happy to assist and help you resolve the issue. Contact us via online chat now, and let’s get back what’s yours before FX Live Capital disappears like many before.

Can I Trade Cryptocurrencies And CFDs With FXLiveCapital Broker?

Both crypto and CFDs are available with FXLiveCapital.

Does FXLiveCapital Give a Deposit Bonus When Opening an Account?

FXLiveCapital says to give you a flexible bonus when depositing funds.

Is FXLiveCapital a MetaTrader 4 Forex Broker?

Yes, FXLiveCapital is an MT4 broker.

Does FXLiveCapital Have a Mobile Trading App?

FXLiveCapital provides an MT4 mobile trading app.

LloydFX brokerage is suspected to be an online trading fraud. There are many unclear things related to the company, which led us to believe that something is not as it should be.

Read our Lloyd FX review and check for yourself why the company has a lousy reputation only a couple of months after establishing.

LloydFX Regulations and Security

For a start, LloydFX claims to be owned by LLOYD GEORGE TRUSTWORTHY SERVICES LIMITED. Once we searched for this company in the UK company’s register, we found that it does exist, but it’s an accounting office. The company was established in 2010 and has been active ever since. It led us to believe it has nothing to do with the LloydFX trading platform and its frauds. Also, there’s no regulation with the FCA, which is a must for every UK-based online trading broker. Therefore, we’re certain Lloyd FX is a scamming broker you should avoid.

Fund Withdrawal Issues

As’s the case with many unregulated brokers, LloydFX doesn’t let clients withdraw their money either. Everything sounds marvelous at the start, the company is based in the UK, which sounds legit and reputable. According to LloydFX reviews, some employees are even convincing inexperienced clients that the broker is FCA regulated. Once you invest your funds, you might even make some profit so that you start trusting your account manager.

Problems come once you want to withdraw your money. You’re being ignored, an account manager is suddenly unavailable, and you might even see that your trading account is blocked.

Beware of Lloyd FX scam and report any inconveniences immediately.

Traders About LloydFX Scam

As per Trustpilot and similar websites for reviews, LloydFX is rated as poor. Clients are highly unsatisfied with the service, and most of them filed a complaint. Here’s just one of the examples:

It seems I already wrote a review, and then it won’t come up, so I guess I should write it again. It seems I have been unable to withdraw my money from my account and close my account. I was told that in order to withdraw the total of my account I would have to deposit the exact amount into my wallet.

This does not make sense to me, and I refuse to send any more money to any account they set up for me. It is nearly three weeks since I requested to close my trading account with them and I still haven’t received any replies to my emails or any money.

Don’t invest any money with these guys unless you check them out thoroughly.

Trading Scam Victim

So, you should avoid LloydFX forex broker and similar brokers such as Invests360, 4x trade and NewCFDs.

How Does Online Trading Scam Work?

If you ever saw an ad for online trading, you must have noticed that most of them are overpromising. And on one side, you can say it’s just marketing, and you should know better. However, once you sign up for such an ad, the broker’s employees will continue with false information. For example, if you’re involved with LloydFX, their employees will try to convince you that you’re dealing with a UK-regulated brokerage, and you can withdraw your funds anytime. An account manager will persuade you to invest more and more until you have nothing left. At that moment, you will become a non-valuable asset for the company, and your account will be suspended.

If you experience something similar, contact us immediately.

Scammed by LloydFX?

If you have been scammed by LloydFX or a similar bogus broker, let us know immediately. We need to file a dispute and request a chargeback before it’s too late.

But what is a chargeback?

A chargeback is a way for your bank to reverse the transaction if you have been a victim of a scam. To get your dispute resolved successfully, you need to provide sufficient evidence. That’s why it’s best to have assistance from professionals. Leave your details on our online chat and book yourself a free consultation. Let’s get your money back now!

What is LloydFX?

LloydFX is an online trading brokerage from the UK without an FCA license.

Is LloydFX a scam?

Broker operates without the FCA regulation and has been accused of fraud.

Is LloydFX regulated?

No, LloydFX doesn’t have any kind of financial regulation for providing financial services.

In the first place, we have to mention that this investment firm is absolutely anonymous. None of the reliable details are presented to clients, starting with owners, headquarters or trustworthy contact details.

These are just a few of the irregularities that this Bitlerz review presents you with. But if you keep reading you’ll find also their darkest secrets.

Legal info: Is Bitlerz Legit or a Scam?

As with any other trusted exchange, you would expect bitlerz.com to operate with a license. Yet, none of the trustworthy institutions have issued it. We’ve checked them all, starting with the FCA, BaFin and ASIC as the most trusted ones.

Considering the lack of regulations you can’t expect any promises from the company to be truthful. Especially if they are hiding their ownership details. All in all, the company is not obligated to comply with any rules. Therefore, prepare your nerves for a rollercoaster.

Who are Bitlerz’s Victims?

It seems that this company registered multiple domains around the same date. According to who.is, you will see this company was first created in April 2023. Research shows that the exchange mainly targets the following countries:

• France
• India
• Italy
• Pakistan
• Belgium

But if you are also a victim of this exchange or any copy-cats they have, contact us for refund assistance. Two known brands with the exact same T&Cs are bittup24.com and xafexbit.com. Yet, to understand how to avoid these things, read fully our Coin2FX review.

Traders Reviews

One of the key warning signs is the Bitlerz reviews. Actually, there are only a few of those available on Trustpilot. Yet, the real picture is given and you can definitely see why not to trust this company. Out of 8 comments, already 40% come with the worst rating.

Seems like the company was using a malware or a malicious software to access victims’ data. Be careful with trusting any unregulated firm. But if you already have, feel free to book refund consultations with our experts.

Investment Costs

The company has two levels of fees. The regular ones and premium ones.  Both maker and taker fees are fixed at 0.2%, while the Premium account holders can get 0.14%. Not a big difference, especially seeing other regulated companies offering far less.

Bonuses

Bonuses are always a nice way to trick investors into depositing more money. Ultimately, you end up sending them real money in exchange for virtual credit. That’s not quite a smart deal. 

Just be aware of the bonus policy and don’t accept anything you don’t understand. But to equip yourself with knowledge, read our Profit Trade review as well.

Bitlerz Trading Features

All the features of this exchange are based on manipulation. Without regulations, whatever this firm offers you becomes questionable, starting with their platform and conditions.

Trading Platforms Available

Reliable exchanges offer trusted apps with download options. In the case of Bitlerz, you can only access your account through the browser. Not quite a convenient method knowing that the company can manipulate everything on its platform.

Available Trading Assets

All the assets on the platform are presented in correlation with the USDT.  Even though they offer the most popular choices, data reliability is not at the highest level. Anyway, some of the options are:

• BTC/USDT
• DOGE/USDT
• BNB/USDT

Account Types

As mentioned, traders can choose between Regular and Premium accounts. However, the requirements for those are not revealed by the company. Most likely, once you deposit their desired amount of money, you will be informed about some benefits.

Mobile Trading App

More warning signs are coming with a lack of trusted mobile apps. If you look at any other legitimate exchange you’ll recognize them by the app. But, with this exchange, that’s another missing feature that should keep you away from them.

Demo Account

A demo account is not something clients can use with this firm, even though the access to the platform is free. But without a transparent approach, you shouldn’t even register with this company.

Education

Knowing what you are doing with your money is the key to success in trading. If you don’t understand it and you trade relying on luck, you may as well try roulette. That’s why legitimate companies offer you a wide range of educational products. Yet, with this one, that’s not the case.

Bitlerz Withdrawal

You could already see from reviews that withdrawals are a nightmare. Especially since the company doesn’t reveal withdrawal fees, yet, they mention to have those. 

Moreover, none of the withdrawal methods or processing times are known to customers. Therefore, there is plenty of space for manipulations.

Customer Support

Another weak point of this firm is its support. In fact, it’s only available via e-mail. While other contact features are not publicly available.

Yet, once you become their client you can expect encrypted contact services. Of course, to still hide their identity. Be sure, that at one point, this company will stop responding to your requests.

Key Information To Consider About Bitlerz?

In the first place, there is a lack of transparency. Whether about owners, commissions, fees or anything else. Moreover, they are using highly suspicious software. Not even the reviews are promising.

All in all, not a company worth the trouble. But if you were already their victim, don’t worry. Our refund specialists are even equipped to track crypto transfers with our CipherTrace technology. Be the first one to see it in action. Book your free consultation now!

FAQ Section

What Is Bitlerz?

It’s an anonymous crypto exchange that is offering fake crypto investment services on multiple domains.

Is Bitlerz A Scam Or Legit?

The company is an absolute scam. Other brands are also exposed. So, if you were a victim of any of those, feel free to contact us for refund assistance.

How to make a currency withdrawal on the Bitlerz exchange?

Opening the website of CDG Global, we were overwhelmed with the scam feeling. Seeing a broker that so transparently offers clients cashback and bonuses instead of some trading conditions, such as low spread or appropriate leverage, means that they have nothing else to offer.

Yet, we didn’t give up. We moved forward and did our CDG Global review.

CDG Global Regulation and Security

Here we come to a hard one. Where is CDG Global regulated, and how? Since the company has 3 different entities, their operation reminds many of ForexMart and other brokers that have regulations and own a scam entity.

CDG Global has its offices in Labuan, Cyprus, and Australia and holds regulations by CySEC and ASIC. However, what happens with the Labuan entity? Who are they regulated by? And what should investors do if they are assigned with this particular one?

Since the broker can assign clients according to his own discretion, you can never be sure under which jurisdiction you belong, and are you dealing with a bogus or legit operation.

Fund Withdrawal Issues

Suppose you started trading with CDG Global and invested a minimum of $50. And suppose everything goes tremendous, and you’ve made some profit. How will you withdraw this profit to your bank if you have no idea to which regulatory jurisdiction you belong, if any? How to know which documents to submit and what to do?

According to many CDG Global reviews, clients are experiencing severe withdrawal issues. Do not fall for the CDG Global scam also stay away from brokers ApmeFX, Eurivex, TeraFX.

Traders Opinion

As mentioned, clients do not have the best opinion about CDG Global forex broker. They are frustrated that they go from one support to another, begging for their own profits and being declined. Moreover, the broker is not known for its professionalism and good behavior. According to reviews, if clients want something that company is not willing to provide, they are getting silent treatment and suspended accounts.

Very decent behavior for allegedly regulated operation.

How Does Online Trading Scam Work?

Have you ever had experience with trading, you know that the first step is signing up for an ad about investing. After this step, you are trading, being provided with a platform, such as MT4 or MT5. And once you make a profit, the point is to withdraw it. Some brokers are conducting scams at the very start, taking money from your card or bank account and disappearing.

Others have more sophisticated tools, keeping you in the trading loop for years without withdrawals and any profits.

If you recognize yourself in this story, report it immediately.

Scammed by CDG Global?

If you were scammed by CDG Global or any other unscrupulous brokerage, there’s a way of getting your money back. Do not get desperate, and do not hesitate to start the refund process now. File a dispute and request a chargeback.

But what is a chargeback? A chargeback is a bank process of refunding money from the merchant in case you were scammed online. Our company recently resolved many similar issues, and we would love to hear your story too. You are not alone.

Contact us via chat, and let’s get the funds back.

What is CDG Global?

CDG Global is an online trading brokerage based in Labuan, Cyprus, and Australia.

Is CDG Global a scam?

CDG Global has an offshore entity which is always a scam indicator since it’s unregulated.

Is CDG Global regulated?

Two of CDG Global entities are regulated, while the one in Labuan is not.

Bitdach is not a legitimate Forex trading platform, as the website purports. On the contrary, the platform is fraudulent. Operating under a veil of deception, the sham broker has preyed on unsuspecting investors for months. 

Bitdach’s antics have recently been exposed and blacklisted by Germany’s Federal Financial Supervisory Authority, BaFin. This alarming revelation prompted us to do the Bitdach Review and warn potential traders about the dangers associated with the shady platform.

Legal Info: Is Bitdach Regulated?

Bitdach is a virtually anonymous website with no information regarding the firm’s legal background and regulatory status. We checked the provided address only to find out that the platform had been blacklisted by the German BaFin market watchdog, as was the case with Euprofits. 

On January 17, 2024, BaFin launched an official investigation into the shady business, issuing a warning to domestic traders and investors not to invest in the platform.

Suspected of providing unauthorized financial and investment services, Bitdach’s operations seriously breach laws by operating without regulatory oversight. Consequently, investors face the risk of losing their funds under dubious circumstances. 

Selecting a regulated financial service provider is crucial to protect your funds. We advise you to choose companies that are controlled by esteemed financial authorities, including the FCA (UK), ESMA (Europe), CFTC & NFA (US), ASIC (Australia), IIROC (Canada), JFSA (Japan), MAS (Singapore), and others.

Regulated brokers follow strict guidelines and provide safeguards such as negative balance protection, segregation of client funds in top-tier banks, and compensation plans to mitigate potential losses.

Who Are Bitdach’s Targets?

According to godaddy.com/whois, the bitdach.com website domain was created on October 27, 2023. Since then, the financial swindler has been targeting mainly unwary traders and investors who reside in the following countries:

• Germany;
• Tunisia.

Germany is a rigorously regulated jurisdiction, known for stringent laws and meticulous supervision of the financial market. BaFin’s goal is to prevent unauthorized entities from running fraudulent schemes.

The stern regulator requires each financial market participant to obtain the necessary permit to operate. To reiterate, Bitdach has no license, meaning the broker directly violates German, i.e. European regulations.

Trader Reviews – Sharing Experiences

The Bitdach reviews on popular forums such as Trustpilot are mixed, with several users claiming they were scammed by the dubious brokerage firm. We assume the digital thieves behind the platform are targeting potential victims through various social media platforms or by running dishonest marketing campaigns. 

Therefore, we strongly discourage our readers from sharing personal information with suspicious profiles and anonymous accounts. It is crucial to discern honest reviews regarding a specific provider to determine whether the business is legitimate. Exercise caution to protect your financial assets.

Which Trading Platforms Are Available?

Despite promising MT4, Bitdach fails to deliver any credible software. The only available trading platform is a rudimental web terminal supporting the trading of popular instruments such as Forex currency pairs, CFDs, and cryptocurrencies. However, it lacks advanced tools. 

This dubious terminal allegedly supports Bitdach AI trading but given the provider’s questionable background, it’s likely that the AI bots are just a ruse and that the platform is being manipulated to deceive users.

For a more comprehensive trading experience, we strongly advise opting for a licensed provider that incorporates reputable third-party software such as MetaTrader 4, MetaTrader 5, or cTrader.

MT platforms support advanced features such as automated & algorithmic trading, sophisticated charting, real-time market reports, API integration, 20+ timeframes, Expert Advisors (EAs), and instant order execution. Just make sure your provider is licensed to offer such services.

Leverage, Spreads, Commissions, Demo Account

The maximum leverage Bitdach offers is unknown. Keep in mind that the legal cap in Europe & Australia is 1:30 and in North America 1:50 for retail clients. High leverage is a double-edged sword; it can bear significant profits but also lead to devastating losses. Unreliable broker firms such as AcapitalGroup.co are known for exposing users to such risks. 

As for the trading costs, i.e. spreads and commissions, the bogus website did not reveal any relevant information, raising concerns about the platform’s legitimacy. 

Another notable red flag is the lack of a demo account. Such a risk-free trading account serves as a crucial tool for novices, allowing them to practice with virtual funds before venturing into the high-pressure realm of trading with real money. Every legitimate broker offers a demo account nowadays so choose your provider wisely.

Deposit and Withdrawal Process

The website listed three payment methods that can be used to fund live trading accounts and withdraw generated profits:

• Credit/debit cards;
• Wire transfers;
• E-wallets.

The Bitdach minimum deposit, as well as the related fees, remain a mystery. Just bear in mind that this broker isn’t worth a single penny. 

Given the negative aspects of this platform we have outlined thus far, Bitdach withdrawal issues are likely to befall all users, requiring them to explore fund recovery methods.

For funds deposited through MasterCard or VISA credit/debit cards, users have the option to request a refund through a chargeback at the issuing bank within 540 days. For transactions using wire transfers, initiating a recall is a potential solution, but its efficacy depends on whether the transaction is complete.

Key Facts To Consider About Bitdach

Let’s recap what we’ve covered so far – Bitdach is an anonymous trading scam targeting German and Tunisian traders. Due to operating unlicensed, the broker got blacklisted by the German watchdog BaFin. We do not recommend this platform mainly because it is not regulated or approved by a reputable financial authority. 

In case you have lost money to the Bitdach scam, you must seek our professional help to recover your funds! A chargeback is your best option.

Use the form below to book your free consultation with Scam Brokers Reviews and tell us more about your case. Our team will gladly guide you through the fund recovery process and assist you every step of the way.

Book your free consultation here and start the chargeback process.

FAQ Section

What is Bitdach?

A fraudulent cyber trap disguised as a Forex/CFD trading platform. This isn’t a transparent provider.

Is Bitdach a Legit Broker?

No, the broker has been blacklisted by the German BaFin watchdog for violating laws and regulations.

What is CipherTrace?

A software used to trace crypto transactions to facilitate the fund recovery process. Contact us to learn more.