PolaxGroup is the perfect platform if you want to lose money. The more we investigate this platform, the more pieces of evidence of fraud keep popping up. Negative reviews, regulatory warnings, lies, etc. Even the website has been taken down due to a regulatory warning.

That is why you should read our PolaxGroup Review and learn how to identify cyber trading scams. Also, we can help get your money back from such schemes.

Legal Info: Is PolaxGroup Regulated?

PolaxGroup claims to have an office in Switzerland. This is a lie, of course, and the fake address was exposed by the Financial Conduct Authority (FCA) on August 4, 2023. The warning against the platform from the UK regulator resulted in the scammer shutting down the previous website and switching to the new one (polaxgroup.co).

Therefore, we do not recommend you trade on this platform, or any other unlicensed offshore provider such as SPmarket24. You won’t benefit from security features such as negative balance protection, segregated funds, or a compensation contract, which is available via the UK FSCS agency.

You should find a regulated broker operating under the supervision of a reputable financial authority such as the FCA (UK), CFTC & NFA (US), ASIC (Australia), IIROC (Canada), CySEC (Cyprus), etc.

Who Are PolaxGroup’s Targets?

According to godaddy.com/whois, the polaxgroup.co website domain was created on September 5, 2023. For about a month now, the cyber con artist has been targeting primarily traders who reside in the following countries:

• United Kingdom;
• Netherlands;
• Israel;
• Canada;
• Thailand.

Each of these jurisdictions is unique in a certain way in terms of regulations. To reiterate, the PolaxGroup brokerage was recently flagged as a scam by the UK’s FCA.

The fraudulent provider is not compliant with the regulations in force in these states. For instance, it offers a maximum leverage cap of 1:50 but the legal limit in the UK and the rest of Europe is 1:30 for retail clients.

The webparanoid.com data shows that the trickster’s website has extremely low traffic, i.e. number of visits. 

Trader Reviews – Sharing Experiences

Whichever trading forum we checked, negative reviews were not missing. The broker received numerous complaints on sites such as scamadviser.com and trustpilot.com. Traders expressed their frustrations due to withdrawal issues, saying that the firm “refused to accept withdrawal and they have stopped responding in the chat and email…”

You can read a detailed summary of how the scheme works and which deceitful methods are used on personal-reviews.com as well. As for the good feedback, the reviews.io forum warned us that the positive “reviews on this page do not meet our trust signals are were likely submitted by PolaxGroup.”

Please avoid trading on unregulated platforms and instead stick to licensed and transparent brokerage companies that provide safe trading conditions.     

Which Trading Platforms Are Available?

It turned out that PolaxGroup supported only a simple web-based platform, devoid of any remotely advanced features and tools. The online trading terminal looked unpolished and lackluster with just some basic charts and indicators.

There was no mobile trading app available. This just shows that the whole trading thing is not serious at all. Providers that only offer a web platform (e.g. UltraBrokerz) are usually up to no good.

You ought to stick to licensed brokers that support credible and proven third-party trading software such as MetaTrader 4, MetaTrader 5, or cTrader if you want access to cutting-edge options. 

Available Live Account Types

Leverage, Spreads, Commissions, Demo Account

The maximum leverage that PolaxGroup offers is 1:50. As mentioned, the legal cap in Europe is 1:30. High leverage allows traders to control larger positions with a relatively small amount of capital, but significantly increases the risk of greater losses.

Trading costs, i.e. spreads and commissions were not disclosed so traders were basically left in the dark in that department.

If you are a novice, you shouldn’t be risking real money straight away. Try out a demo account first. All legitimate brokers nowadays have a demo account option. Those that do not, like PolaxGroup, are most often phonies.

Deposit and Withdrawal Process

PolaxGroup failed to specify which funding options are available. Since the payment methods are not disclosed, fees are unknown as well. Judging by the trader reviews, it’s highly unlikely that you will be allowed to withdraw funds or get a refund. 

In that case, you should know that funds deposited via MasterCard and VISA credit/debit cards can be refunded via a chargeback, which can be requested at the issuing bank within 540 days. 

Wire transfers can be reversed via a recall but this action can only work for transactions that are not yet complete. As for crypto payments, you’re going to need professional assistance to get your money back.

Key Facts To Consider About PolaxGroup

To sum up, PolaxGroup is an anonymous scam broker that defrauded several unsuspecting traders. This website was illegally offering services mainly to traders from the UK, the Netherlands, Canada, Thailand, and Israel.

We do not recommend this platform because it is blacklisted and many traders had major issues with it. In case you’ve already deposited funds into your account, you must seek our professional help to recover your money!

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 chargeback process and assist you every step of the way.

Book your consultation with us today and start the chargeback process.

FAQ Section

What Is PolaxGroup?

PolaxGroup is an anonymous Forex trading scam that deceived several unsuspecting traders.

Is PolaxGroup A Scam?

Yes, PolaxGroup is definitely a scam. The fraudulent scheme was exposed by the UK’s FCA.

How Does PolaxGroup Work?

The fraudster is hiding behind a web platform, using it to steal money. If you cannot withdraw your funds, we can help you.

Some would confuse Supreme Capital for a UK-based brokerage based on its domain. This firm operates offshore and doesn’t follow any regulatory rules. This is why we believe that you should read this review before being involved with a scheme. Your funds are at risk.

Is Supreme Capital a Licensed Broker?

Supreme Capital did not list a company owner or an official address. According to the Terms and Conditions, the company complies with the laws of Saint Vincent and the Grenadines. But, here’s the thing. SVG doesn’t have a valid financial regulator. As a matter of fact, there’s an FSA directive instructing brokers to opt for a license in the country of service.

Upon checking with FCA, ASIC, BaFin, etc., we have confirmed that Supreme Capital is not regulated and operates illegally.

How Unsafe Is An Unlicensed Broker?

Unlicensed brokers are dangerous since there’s no authority to supervise their activities. Legit brokers have compensation funds to reimburse potential victims. You have no such thing with unlicensed firms, meaning there’s no money-back guarantee.

What is more, we strongly advise you not to invest in HubbleBIT, ETHProfits and Bitonext fraudulent brokers.

So Is Supreme Capital a Decent Broker or a Scam?

Supreme Capital is a scam online trading brokerage. The firm operates according to the laws of Saint Vincent and the Grenadines and has no valid financial license.

Traders’ Experience With Supreme Capital

Even though the company has existed for several months, Supreme Capital reviews are already negative. Customers shared how they were pressured to invest money all the time, but nobody could get a withdrawal. Once they complained to the UK regulator, they figured the firm was offshore and unlicensed. And this is when their fight for money began.

What Platforms Does Supreme Capital Offer? – Available Trade Software

The trading company offers a proprietary WebTrader available on desktop and mobile versions. Allegedly, the platform brings “power and flexibility” to its investors. Once we accessed it, we figured it was nothing but a basic TradingView chart with the attached indicators. Customers can see a complete list of trading assets, margin level, amount of money, and open trades. But that’s all.

To start trading, find a legitimate company providing MT4 or MT5.

Mobile Trader

There’s a Supreme Capital mobile app based on WebTrader. Even these tools are not as sophisticated. However, we will give it slack. Unlike many offshore scammers, this one tried to provide its clients with iOS and Android platforms.

All About Supreme Capital Accounts

You can choose from one of the seven Supreme Capital accounts. They are:

1. Basic – $250
2. Silver – $10,000
3. Gold – $50,000
4. Platinum – $100,000
5. Diamond – $250,000
6. VIP – $500,000
7. Millionaire Club – $1M

Accounts differ in spread, leverage, number of trading signals, sessions with account managers, and more.

Does the Broker Use SSL? – Secure Socket Layer

The broker has SSL encryption on the website. However, this doesn’t mean that your funds are safe. SSL or Security Socket Layer should protect your confidential information, such as passwords and credit card numbers, from hackers. Moreover, this firm offers a proprietary WebTrader, meaning that they can access your funds and trade through the platform and change everything. You can see a significant profit or severe losses and wonder how it happened so quickly.

SSL is a fantastic tool, but only when provided by a legitimate investment brokerage.

Supreme Capital  Broker – Countries Of Service

According to our research, the broker mainly operates in:

• US
• Canada
• Germany
• Australia

Supreme Capital Range of Trading Instruments & Markets

Customers can trade in all major markets, including:

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

Also, remember the names of the PrimeDeltas, IB Finanzas and ConcordInvest trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

What Does Trading Terms Supreme Capital Provide?

Supreme Capital has not specified a spread, so we don’t know much about trading costs. Besides, as per the leverage, it ranges from 1:5 to 1:400. In the EU and UK, regulators have a strict limit of up to 1:30, while in the US and Australia, this limit is 1:50. Likewise, if a retail trader is highly experienced, the leverage can be slightly increased.

As you can tell, the firm goes against regulatory rules and offers significantly higher leverage. Also, that could lead to major financial losses.

Supreme Capital Deposit, Withdrawal Methods, And Fees

The company accepts only one payment method – cryptocurrencies.

According to the website, there are no deposit or withdrawal fees. However, here’s the odd thing. The withdrawal processing time is 7-10 working days. Since crypto transactions are mainly instant, we’re unsure why it would take so long for the firm to return your funds. It’s probably another way to delay you and make you wait for funds you will never get.

Minimum Investment Amount

The minimum deposit with Supreme Capital is standard – $250. However, this firm is not regulated, meaning that even a penny is at risk. Regulated firms allow you to start with as low as $10 and have fewer risks than unregulated offshore fraud. Thus, there’s no reason to consider investing with a Supreme Capital broker.

Customer Support – Communication Channels

The broker’s customer support contacts clients via:

• Phone calls
• Emails
• Messages
• WhatsApp and Telegram
• Social media

They will offer you all kinds of bonuses and lure you into investing. But be careful. Because you’re dealing with offshore fraud.

Scammed by a Supreme Capital Broker? – Let Us Hear Your Story

Supreme Capital is a fraudulent broker. Falling victim is not as hard. But once you’re scammed, you shouldn’t give up. Fight for what’s rightfully yours. Let’s file a dispute for a chargeback together and let’s recover your funds before it’s too late.

But What Is A Chargeback?

A chargeback is a way for your bank to recover funds from the merchant. If you have been scammed, it’s of utmost importance to react quickly. Book your free consultation with us and let’s start the procedure.

What Is Supreme Capital?

Supreme Capital is an offshore Forex and CFD trading provider without licenses.

Is Supreme Capital a Scam Broker?

The firm is based offshore and has no valid financial regulations.

Is Supreme Capital Available in the United States or the UK?

Supreme Capital is available in both countries without a license.

Does Supreme Capital Offer a Demo Account?

Yes, the broker offers a Demo account to hook you into investing.

As per the company statement, a broker you can trust. To find it is true, we need to check everything first. For a company that doesn’t provide an office location and phone number where it can be reached, it’s hard to believe.

FXsway broker is owned by FxSway LLC based in St. Vincent and Grenadines. General financial jurisdiction belongs to the FSA of SVG. However, they dissociate themselves from providing FX and CFD trading licenses. Therefore, companies operating in other countries should have a license from local authorities. Let’s dig deeper in our FXsway review.

What is more, we strongly advise you not to invest in Place a Trade, Athens Market and Cryptics fraudulent brokers.

Is FXsway A Scam Broker?

So, we followed the instructions of FSASVG. Based on FXsway reviews, they are scamming traders from the UK, the US, Canada and Australia. Therefore we checked the database of some Tier 1 regulators.

In any of these, from FCA, ASIC or CFTC, we couldn’t find any records of FXsway broker. As that being said, we can say that this broker is fraudulent. Now we are just looking for more confirmations.

 FXsway has a very low-quality website with a lot of irregularities, starting from the license, office and ownership information. Whoever is looking a for a stable and reliable trading company already knows that this is not the right choice. 

Reasons for Using a Regulated Broker for Trading

Transparency and security are key things in trading these days. Nobody wants to trade with a broker that doesn’t offer clarity on trading conditions and, especially, withdrawing policies. That’s where regulation comes into play. Even if something bad happens, you have someone to reach out to – regulators.

FXsway Software

The very interesting thing about this broker is their trading software – MT4. One of the rare that puts this into a first plan. It’s a very good choice for both experienced and non-experienced traders. Fast executions, a lot of trading tools and many more.

MetaTrader 4 Platform

As an industry standard, this is one of the best programs you can use for FX and CFD trading.

It provides a variety of TA tools, social and copy trading. Everything that you need to become a successful trader. 

However, we need to mention that all of that is questionable if the broker is illicit.

MetaTrader 4 Mobile

MT4 mobile is one of the most used options for trading It’s very user-friendly and has fast executions. So, wherever you are you can place your trades and make profits on the go.

FXsway’s Trading Instruments

The availability of the assets is very good. The company offers assets from different classes like:

• Forex                        USD/GBP, USD/SEK, AUD/SGD
• Commodities             natural gas, gold, silver
• Indices                      BE20, DowJones, AU200
• Shares                      Apple, Tesla, Microsoft
• Cryptocurrencies       BTC, BCH, LTC

Trading instruments are a story in itself. Since the broker is not regulated, all trading conditions about these are speculative. Many trading platforms tend to affect the prices in their favor. That way client is losing money and they have the perfect opportunity for a new pitch.

FXsway Service Countries 

According to FXsway reviews, they are scamming traders from:

• US
• UK
• Canada
• Switzerland

All mentioned countries have very high regulations and we doubt the broker will end up without any penalties or punishment in some way. But for now, think about your money and keep it safe.

List of FXsway Account Types

Besides the minimum of 10$, nothing much is presented in these account types. They are offering:

• Standard – Leverage up to 1:500 / Spreads from 0.8pips / Commission from 7$ per lot
• VAR – Leverage up to 1:500 / Spreads from 1.2 pips / Commission from 0$ per lot
• PRO – Leverage up to 1:500 / Spreads from 0.4 pips / Commission from 9$ per lot
• Mini – Leverage up to 1:500 / Spreads from 0.1 pips / Commission from 1$ per lot

All of this would be shiny in bright if it’s confirmed by some license. No reputable license will allow leverage of 1:500. 

PAMM Accounts

PAMM accounts are multiple traders combined accounts. The broker trades with a bigger pool and every client gets its percentage based on the interest he deposited. 

A very good option in reality, but with a scam broker it can be very dangerous. We suggest you stick with a regulated broker in the first place.

FXsway Promotions

Another luring scheme is on the radar. Becoming an affiliate is easy, especially with their assistance. The more clients you bring, the more money you get as a commission. But think about it twice if you are getting commission from their trades or their deposits.

FXsway Deposit and Withdrawal Policies

The good thing, before depositing any money is that you can use their demo account to check how it all works. However, the company offers only crypto transfers as deposit and withdrawal methods.

These are extremely tricky because they are encrypted and very hardly traceable. Many clients had issues with withdrawals, where the broker is asking for additional documentation, additional fees and taxes and many more excuse. Be careful and look for a licensed broker on time.

FXsway Terms and Conditions

Even though the spreads available for trading are quite interesting, they don’t match standard ones. Because with licensed companies you get fixed spread, here it is floating.

On top of that, the leverage they provide is bizarrely high and it brings a lot of risks. According to ESMA and MiFID rules, only 1:30 is allowed for retail traders.

Were You scammed by an FXsway Broker? – We Want To Hear Your Story.

Many people got caught in this fraudulent scheme. If it was you, let us know. Our expert team can assist you with fund recovery. Contact us today to find your first steps!

What Is the Chargeback Procedure?

A chargeback is a reversal card transaction. It can happen when you report to the merchant and bank fraudulent activity. However, you need to provide the necessary documentation. 

Our team is doing that for years now and helping people over the world to recover their money. Don’t waste your time and contact us now!

What Is FXsway?

It’s a non-licensed offshore trading broker operating since 2021 in St Vincent and Grenadines and scamming traders from the UK, US, Canada and Switzerland.

Is FXsway a Scam Broker?

Yes. A lack of regulations, low transparency and negative customer reviews are just some of the confirmations.

Is FXsway Available in the United States or the UK?

According to FXSway research, they provide services to both mentioned countries. It’s not excluded that some more are their targeted countries.

Does FXsway Offer a Demo Account?

Yes. Surprisingly you can check their demo account and find why not to invest anything here.

If you have read the title, you know what we’re dealing with here. Our Cryptowall Trading Review focuses on further explaining how the anonymous crypto exchange scam works.

We will analyze the deceptive content of Cryptowall Trading’s bogus website and also repost the regulatory warning we found against this platform and talk more about it. Last but not least, we shall explain how you can recover your funds from cyber scams.

Legal Info: Is CryptowallTrading Legit?

First, we shall analyze Cryptowall Trading’s illusive legal background. The platform was allegedly founded by a Leipzig-based company. WHOIS shows that the website was created in May this year. 

Since Cryptowall Trading claims to be a well-known German crypto exchange, let’s see what the German financial market regulator has to say about it. Namely, we’re referring to the Federal Financial Supervisory Authority (BaFin). Unsurprisingly, BaFin issued a warning against Cryptowall Trading on August 15, 2023 (bafin).

The German regulator suspects that Cryptowall Trading is an unauthorized provider and the likelihood of that being true is high considering that no such company exists in BaFin’s register. It’s safe to say that we’re dealing with an unregulated and dangerous financial swindler. We had a similar case in Ixxen. 

Instead of believing the lies of these fraudsters, you should find a reliable provider that operates under the watchful eye of a renowned financial market regulator such as the aforementioned BaFin, or the FCA (UK), CFTC & NFA (US), ASIC (Australia), FINMA (Switzerland), CySEC (Cyprus), IIROC (Canada), etc.  

Who Are Cryptowall Trading’s Targets?

According to godaddy.com/whois, the Cryptowall-trading.de website domain was created on May 3, 2023. That was relatively recently so it didn’t take BaFin long to notice the scammer. Other websites such as webparanoid.com also warned against Cryptowall Trading.

After doing some research, we found out that the illicit crypto exchange has primarily been targeting traders from the following countries:

• United Kingdom;
• Germany;
• Austria;
• Switzerland;
• Italy.

German speakers seem to be the main targets. Needless to say, a provider must be regulated in order to legally offer services in these domains. All of these jurisdictions are known for heavy financial regulations regarding digital assets. Unauthorized companies cannot operate unless they obtain a license, which is evident in BaFin’s warning.

If you cannot withdraw money from Cryptowall Trading, we offer our professional assistance.

Trader Reviews

We managed to find only two reviews for Cryptowall Trading. We forum we found them on was scamadviser.com. Both reviews, i.e. complaints were in German so we took the liberty to translate them into English for the sake of our review.

Although it may be a rough translation, the point these unfortunate traders wanted to make is clear – Cryptowall Trading is a scam and should be taken down immediately! Do your best to avoid phony platforms like Cryptowall Trading and Orotrader 

Without ever having created an account, I was contacted by email claiming to have opened one. Apparent website phishing attempt. Just block and ignore email

Scamadviser user, July 18, 2023.

Tapping of data… A wrong HR entry is used… The names are also stolen from other companies… It’s definitely fraud and identity theft

Scamadviser user, July 6, 2023.

Cryptowall Trading App 

Cryptowall Trading claims to offer a trading app for Windows, Linux, Android and iOS devices. The mysterious app is supposed to provide a convenient way for users to utilize the platform’s features.

However, it’s important to stress once more that the platform is unregulated and extremely risky. Another alarming fact is that there is absolutely no information about the fees, crypto coins, wallet, demo account, etc. All the links on the website just take you back to the top of the home page.

Do not forget about BaFin’s warning; Cryptowall Trading is not a legitimate exchange. The app & platform may as well be rigged.

Did Cryptowall Trading steal your money? Let us know by booking a consultation with our team.

Cryptowall Trading Payment Process

Cryptowall Trading has no deposit & withdrawal policy or any legal documentation for that matter. Thus, we don’t know which payment methods the scammer accepts, minimum deposit and withdrawal requirements, related fees, or the payment processing time.

Depending on the method used to deposit funds, there are ways you could request a refund. For instance, MasterCard and VISA card transactions can be reversed via a chargeback, which can be requested at the issuing bank within 540 days.

But for crypto payments, you’ll need professional assistance. Luckily for you, our experts regularly trace crypto transactions with CipherTrace, an advanced software. Once we trace your payment to a wallet within a crypto exchange, you can request a refund from the exchange. 

Customer Support 

Cryptowall Trading cunningly posted links to various social media such as Facebook and LinkedIn on the website. But as we already mentioned, all the links are broken. 

There is, however, a link to the scammer’s private WhatsApp chat. We assume that this is the main communication channel between the trickster and the unsuspecting victims. Aside from WhatsApp, there is a phone number, web form, and email. 

Key Facts To Consider About Cryptowall Trading

To recap and wrap up the review, Cryptowall Trading claims to be a German cryptocurrency exchange. This platform has been active since May 2023, mainly targeting traders from Germany, Austria, Switzerland, Italy, and the UK.

In mid-August this year, the German regulator BaFin launched an investigation into the unauthorized and fraudulent activities of Cryptowall Trading. That’s reason enough to avoid this shady platform at all costs. 

If you’re a victim of the Cryptowall Trading scam, please book your free consultation with our team and tell us more about your case. If you need professional assistance in recovering your funds, our team will gladly guide you through the chargeback process or trace your crypto transaction using CipherTrace.

Book your consultation with us today and start the chargeback process.

FAQ Section

What is Cryptowall Trading?

Cryptowall Trading is an anonymous crypto exchange scam that claims to be a well-known German platform.

Is Cryptowall Trading a Legitimate Company to Trade With?

No. The German regulator BaFin launched an investigation into Cryptowall Trading, claiming that the platform is unregulated.

What Should I Do If I Have Been Scammed by Cryptowall Trading?

You should book a consultation with us and tell us how it happened. We can help you recover your funds.

Rapidnex is a doomed Australian broker with a questionable past full of shady activities that made ASIC revise and deny their license. Now primarily a crypto trading platform, the Rapidnex website still advertises other instrument classes as available, but to no avail. Proper trading is absolutely not possible when the site enables a bogus platform and fake conditions.

Anyhow, once a properly regulated broker is now nothing but a fraudulent scheme. The following Rapidnex review describes in detail what happened and why this entity is now dangerous for your funds.

Tier 1 License Lost

RAPID (QLD) PTY LTD is the owning company of Rapidnex. It was established back in 2012 and was properly licensed by the Australian regulator – ASIC. As evident, the register now says that the status of the company is such that they’re subject to a strike-off action, which is in progress. 

Strike-off means that ASIC is undertaking the process of removing a company from their register. The causes for that could be that the company hasn’t paid an annual fee, is inactive, has no liquidator or has breached regulations.

Another company address is allegedly in the UK. But FCA has no record of this company, either. That means that the broker doesn’t ensure funds’ security and deposits are at risk. 

Traders Swindled

Rapidnex has a most common approach to deception. Forex optimists are usually less experienced and less knowledgeable traders that easily get tangled up in the web of lies. Tireless boiler room agents facilitate the process of recruitment and extort money easily by promising huge gains. 

Investors from the following countries have suffered the most so far:

• Australia
• Netherlands
• United Kingdom

Please beware of trading offers that sound too good to be real – their purpose is to force you into investing. Contact us if you need help in recovering the funds lost to this or any other suspicious entities.

What Victims Say

The Rapidnex page on Trustpilot is packed with negative reviews. User complaints must have alerted ASIC of the shady operations going on behind the curtains. Moreover, their business name there is “Turbo trade”, which makes things all the more suspicious. 

A contrast to that is their Sitejabber page that features high ratings. We suspect these come from the company itself of review seller networks that profit by selling untruthful reviews.

Trading Conditions Imply Regulatory Breaches

Basic conditions at Rapidnex directly suggest ASIC violations. For example the software shows 1:100 to be the available leverage. The website, on the other hand, shows a 1:90 ratio as highest available, which is another rule breaker. 

Spreads start from 0.0 pips on EUR/USD, which is not quite believable coming from a company lined up for deregistration. TradeCare365 also has attractive conditions that are not plausible in practice.

Poorly Designed Tools and Features

Out of the entire Rapidnex offer, nothing could possibly attract an investor’s attention. The Tradingview-based web terminal, shockingly expensive accounts and limited number of assets don’t add to the general impression. Let’s revise these elements separately.

Rudimentary Web App

The Rapidnex platform represents an unstable and utterly unreliable basic web app. It was built on a Tradingview widget that doesn’t show the real prices and statistics that the broker charges and enforces. 

Such software doesn’t compare to industry leaders like MT5 and cannot perform well. RoboInvest employs practically the same software.

Limited Assets

Besides the most common and most traded instrument classes, there’s nothing out of the ordinary at Rapidnex:

• Forex (EUR/USD, EUR/GBP, USD/AUD, CAD/EUR)
• Commodities (Sugar, Cotton, Coffee, Soybean)
• Crypto (BTC, ETH, LTC, DOT, SOL, EOS)
• Indices (Dax, Dow Jones, Nasdaq, Nikkei)
• Metals (Gold and Silver)

Accounts Cost a Fortune

There’s only three Rapidnex accounts and they’re not at all affordable. The packages sure promise some unrealistic features. These are personal broker, trading signals, live streams and weekly webinars, but they’re are just overpriced: 

• Silver – $10.000
• Gold – $50.000
• Platinum – $100.000

BitMarket Capital has just as pricey accounts that don’t have anything much to offer.

Standard Account as Demo

During a limited time, every trader can try their luck on a trial account. This is referred to as the Standard account with a free margin of $100.000. The trading conditions on it are purposely designed to make trading look a piece of cake so you’d invest real cash right after.

Implausible Withdrawals

Funding channels available at Rapidnex are only credit cards and crypto. Shady payment service providers are who unlicensed brokers usually partner up with to defraud clients and perform personality theft and compromise other data. 

If you pick credit card funding, you may have a better chance at withdrawing funds. These are more safe and transparent ways of transfering funds and they also allow chargeback.

Customer Support

The Rapidnex support office has several available phone numbers, emails and an online form as a way of getting in touch. The diligence of the customer service team is questionable, though. Also, online chat and callback features aren’t available.

Let Us Help You Withdraw

It has become obvious by now that this company is not a good option to choose as your broker partner. If you’ve already invested here, however, there’s a chance to regain your lost funds. 

If you contact us promptly, our recovery experts can walk you through a chargeback process and help you establish control over your invested capital. Your first consultation is always free.

FAQ Section

What Is Rapidnex?

Rapidnex is an ex ASIC authorized brokerage brand in the deregistration process. They still offer their services, though.

Is Rapidnex Legit?

No, this broker is no longer licensed.

What Are The Rapidnex’ Platforms?

The only available trading platform is a rudimentary web trader.

How To Get Money Back From rapidnex.com?

Act quick and contact our recovery team and we’ll help you get your stolen funds back.

There are many offshore brokers currently on the financial market. We have to make it clear, some of them are regulated, some are not. When it comes to Energy Markets broker, there are many things to say. And none of these things is good. Read our Energy Markets review and find out what to do if you got scammed by this offshore brokerage.

Energy Markets Details:

Energy Markets Regulation and Security

Energy Markets is a brand owned by Donnybrook Consulting Ltd. The company is based in the Commonwealth of Dominica and has no regulation for its operations. This means that the company operates illegally, and there is no regulatory body you can complain to get your funds back.

The broker was using the website www.energy-markets.io, however, this domain was shut down due to too many scam reports. Currently, there is an active website www.energy-markets.cc that the scam brokerage is using only to get more registrations.

However, when there is no regulation, there is no security.

Warnings From Financial Regulators

This is a subject we could discuss till the end of this article. Energy Markets broker and the company owner are reported and blacklisted so many times it’s even hard to count. But let’s try.

The first regulatory body to issue a warning against this scam brokerage was the Italian CONSOB:

Afterward, the warning from the Spanish CNMV came, listing all the brands of Donnybrook Consulting Ltd as a scam:

The same warning came from Belgium FSMA, stating that the brokerage is a scam and warning citizens against trading with the Energy Markets broker.

Lithuanian LB issued a warning against Donnybrook Consulting Ltd as well.

And in the end, there is a Hungarian MNB that blacklisted the scam company as well.

Now you understand the level of scam this broker is conducting.

Can you make money with Energy Markets?

Since you’ve had a chance to see all the security warnings issued against this broker, the answer is no. However, we would like to discuss a couple of things. The broker is using the MT4 trading platform, which is probably the only positive thing to say in this entire review. The minimum deposit with Energy Markets is $500, which is double than any regulated brokerage. And the leverage is 1:200, again higher than any regulated brokerage can offer. There is a reason for brokerages to limit the leverage – it’s putting your funds at too high risk.

So no, you cannot make money with an offshore unregulated scam company.

Scammed by Energy Markets?

If you were scammed by Energy Markets, there is a solution. You can 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 an online scam. Contact our support via chat immediately, book your free consultations, and you will know the first step you need to make in order to get your money back!

What is Energy Markets?

Energy Markets is an online trading brokerage with no regulation.

Is Energy Markets a scam?

Since the broker is offshore and has no regulation, we can say that Energy Markets is running a scheme.

Is Energy Markets regulated?

The broker is based in the Commonwealth of Dominica and has no regulations.

We’ve decided to review a couple of offshore brokerages to understand if those companies are legit or not. In case you see that the broker is based on some island or similar, you want to know if your funds are safe. Read our UltraBrokerz review and find out everything about this particular company.

UltraBrokerz Regulation and Security

The broker is owned by Quantu Group Ltd and is based in Saint Vincent and the Grenadines. However, what confused us is the fact that the broker listed the London address on their official website UltraBrokerz.com. On this particular address are several UK companies offering offices and co-working space. However, UltraBrokerz or Quantu Group Ltd is not one of the companies listed on this address. So, why is the broker pointing out this place? Probably in the sad attempt to mislead the clients to believe it’s a UK-based company. The broker is not listed in the register of FSA SVG nor the UK FCA.

The company is not regulated, not legit, and not trustworthy, such as Cfxdtrade, Electrum24 and OpoForex brokers.

Withdrawal Issues with UltraBrokerz

Here, we will list a couple of facts about UltraBrokerz company since there are many complaints and withdrawal issues with the brokerage.

For a start, the broker is using a web trader. This is a way less secure trading platform than MT4 or MT5. Therefore, your deposit is not safe, and your profit is not safe.

Another thing, the leverage broker offers goes up to 1:400. Meanwhile, regulated companies are limited to up to 1:50 due to regulators’ intentions of keeping your funds safe.

The minimal lot size is 0.1, while regulated brokers allow you to start from 0.01 lots. It means that you need more funds to enter the trade, and you are risking more. Not too appealing for non-experienced traders.

The minimum deposit is $250 and can be made only using a debit/credit card and wire transfer. As per the broker’s website, if you do not log in to your account for six months, the company will start charging you 10% for every month of inactivity. The company is charging you a fixed fee of 50 EUR/USD/GBP for wire transfer withdrawals and 25 USD/GBP/EUR for card withdrawals plus the processing fee of 10USD/7EUR/5GBP. The minimum amount for withdrawal is 250 units for wire transfer and 100 units for card withdrawals. Bear in mind that you will have fee deductions on this amount.

After everything is revised, we do not understand the need to charge such a high fee for withdrawing your funds. Moreover, the limit for withdrawal is exceptionally high. You should be able to get your funds back whenever you want, in any amount you wish.

Scammed by UltraBrokerz?

If you were scammed by UltraBrokerz, do not panic. It’s crucial to stay calm and take a few steps to get your money back. 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 an online scam. 

Contact our support for further information via chat!

What is UltraBrokerz?

UltraBrokerz is an online trading brokerage with no regulation.

Is UltraBrokerz a scam?

The broker has no regulation for providing financial services.

Is UltraBrokerz regulated?

Any authority body does not regulate UltraBrokerz.

If you’re looking for a legit brokerage, you can immediately close the web page of 365 Capital FX. However, if you’re already involved, you probably just want your money back. Let’s see who this company is and how you can file a dispute for a chargeback.

Read our 365 Capital FX review and get all the information in one place!

Regulations and Security

365 Capital FX is a brand owned by Sand Ltd from the Marshall Islands. The company was established this year, and as it’s the case with many offshore scams, it has no proper financial regulation. Therefore, we can safely say that your funds are at tremendous risk with this particular broker. Moreover, you have no guarantees that you will get your initial deposit back as well since there’s no valid regulator and there’s no compensation fund. When investing, better find a Tier1 regulated company licensed by the FCA, ASIC, BaFin, and similar firm regulatory bodies.

365 Capital FX Warnings From Financial Regulators

Since broker provides financial services without proper regulation, some authority bodies have noticed it and decided to publish an official warning. The first one to do so was the UK FCA, while we also got a warning from an independent financial regulator, FINACOM.

Both of these warnings contain the same – 365 Capital FX is a fraud, and you should file a complaint against it immediately.

Fund Withdrawal Issues With 365 Capital FX

Being unregulated means you have no authority body that would oversee your activities. And unfortunately, company is using this fact a lot. Firstly, they ask clients for an initial deposit of $2,500, which is 10 times more than an average in the industry, and after you invest those funds, the account manager will keep asking for more. No matter how much you invest, it’ll never be enough.

However, once you want to withdraw your profit, your account will be suspended, and your account manager will be unavailable. This is a scam most offshore companies use to defraud their clients. If something similar happens to you, let us know immediately.

Traders About 365 Capital FX Scam

As you can imagine, traders have nothing good to say about the 365 Capital FX brokerage. They are highly disappointed with the treatment they get after investing such a high amount of money. The broker’s proprietary web trader is not as good as it should be, it has lots of lags, and the broker’s employees don’t assist clients in the case of an issue.

As previously discussed, withdrawals are nearly impossible, so the entire trading experience with the broker can be described as a large disappointment. So, please avoid 365 Capital FX forex broker and similar brokers such as Smart Trade Group, CCG Trade and CJC Markets.

How To Know If You Were Scammed Online?

If you cannot withdraw your funds, it’s evident that you have been scammed. However, you should be suspicious if you notice that your broker is pushing you to invest more and refusing to process your withdrawal request, or someone from the company asks for access to your online banking. If you notice any unknown transactions on your card after depositing with a brokerage, let us know. We will help you file a dispute and request a chargeback.

Scammed by 365 Capital FX?

If you were scammed by 365 Capital FX or a similar brokerage, let us know. Our team of experts will help you file a dispute and request a chargeback.

But What Is A Chargeback?

A chargeback is a way for your bank to reverse the transaction if you have been scammed online. Contact us via online chat to book a free consultation with our specialists and get your money back. Don’t let scammers go away for free!

What is 365 Capital FX?

This is an online trading brokerage blacklisted by the UK FCA for providing unregulated services.

Is 365 Capital FX a scam broker?

No, company has been blacklisted by the UK FCA for providing illegal financial services.

Is 365 Capital FX regulated?

Instead of regulation, 365 Capital FX has been blacklisted for fraud.

Without further ado, let’s dig into this high-level scam. OpoFinance’s website looks good, right? Well, that’s the point, to appear stunning and to convince you it has substance. However, there’s a vile scheme slithering beneath the shiny blue exterior.

This fraudulent broker even has a license and that is our first target for unleashing a barrage of arguments against it. The next section of the OpoFinance Review will prove why this regulation cannot be trusted.

In addition to the above, we strongly advise you not to invest in TargoSwiss, Eurinvesting and HighTrustCapital fraudulent brokers.

Is OpoFinance a Safe Provider Or a Scam?

You have a fine-looking website and you mentioned you’re regulated, what else is there to add in order to defraud? Nothing really, but even that is not good enough for us. There is a thing or two you should know about the fraudster’s regulation, i. e. the one issued by Seychelles’ FSA, which does exist. 

The only problem for OpoFinance is that the FSA does not regulate foreign exchange markets, “this falls under the purview of the Central Bank of Seychelles,” says the FAQ section on the FSA’s website.

Furthermore, there’s mention of St. Vincent and the Grenadines, the infamous nest of scammers. This place also cares not about regulating the financial market and the laws there are quite permissive. The Financial Commission membership found on Opo’s website is irrelevant considering everything said. Therefore, it’s safe to say that this financial swindler is an outright scammer!

OpoFinance is an unregulated offshore scam. The company has been in the business with no license, lurking potential victims.

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

To further support our claim, we’ve checked the websites of several Tier 1 regulators such as the FCA, BaFin and CySEC. Of course, they’ve got nothing on our fraudulent broker. For your funds to be safe, your provider has to be regulated by one of these institutions.

OpoFinance Offers MT4 and MT5 Platforms?

This is yet another clever trick used by the con artist. Why not copy the test from the most successful student in class? For those who do not know, Meta Trader 4 and 5 are two incredible trading platforms, arguably the best in the business and OpoFinance knows this. That’s why the broker was sure to include them in the offer.

However, the download files weren’t so clean. Coupled with the shady background of OpoFinance and the dirt we found about the broker, it is not recommended you trust the platforms. Proceed with caution because the software could be subject to manipulation.

Can I Trade From Any Device?

You can trade from any device, indeed. Quite a neat and convenient option. Since OpoFinance is out to steal your money, it came prepared. The more possibilities it offers, the better the chance of victims taking the bait, so be careful.

What Do We Know About OpoFinance’s Account Types?

OpoFinance offers the following account types or rather trading packages:

• Standard – min. deposit $100, spread from 1.8 pips, no commission;
• ECN – $100, spread from 0.8 pips, $6 commission;
• Social Trade – $250, spread from 2.5 pips, no commission;
• ECN Pro – $5,000, spread from almost zero, $4 commission.

Each of these accounts has leverage set to 1:500. It’s a bit strange that the second-best account type has wider spreads than the weaker two. Also, it was stated that all accounts provide clients with Meta Trader 4, with no mention of MT5.

Demo Trading Account

No legit provider will omit a demo account. OpoFinance, of course, knows this and that’s why it managed to include one. The scam broker has patience, it is ready to wait for the unsuspecting victim to lower guard. Per the website, the Standard, ECN and ECN Pro accounts have demo versions available.

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

Range Of OpoFinance’s Scam

Aside from offering you the classic trading role, i. e. an account, a platform and popular trading assets such as Forex pairs, CFDs and crypto, OpoFinance also has an “Introducer” program in store. 

This referral mechanism places you at the bottom of the so-called pyramid scheme where the one on top rules at the expense of the rest. The shady broker promises extra profits for every new client you manage to drag into this scam. This way, it uses you as a scapegoat for the defrauded public.

Its website is available in the following languages: English, Persian, Arabic, Indonesian, Thai, French, and Chinese (traditional).

OpoFinance Deposits & Withdrawals

For payment methods, Opo accepts credit/debit cards, wire transfers, various cryptocurrencies and the PerfectMoney e-wallet. Crypto and wire transfers may charge commissions while the rest are free. The processing time is either instant, 24 hours or depending on the blockchain. Provided that everything here is true, it seems pretty legit but you could still be at risk.

What Is Known About OpoFinance’s Trading Conditions?

The $100 required to start trading is reasonable. Spreads were a bit wider than usual for EUR/USD (1.9 pips). The part where OpoFinance really messed up is the leverage. Setting it at 1:500 is insane for retail traders. Even professionals have to be careful there. The losses that could stem from that may be enormous and that’s why most regulators have restricted leverage to 1:30-1:50.

Scammed by OpoFinance Broker? – Let Us Hear Your Story

It’s unfortunate if you’ve been scammed by this fraudster and we feel for you. However, you have to keep your head up and consider ways to fix the situation. We can help you there. The three methods you should know about – chargeback, recall and crypto tracing. 

But What Is A Chargeback, Recall and Crypto Tracing?

A chargeback can be requested at the issuing bank within 540 days. It can reverse credit/debit card transactions. For wire transfers, the process is called a recall but it needs to be done before the completion of the transaction. 

Crypto payments can be traced to a wallet in an exchange. Then, you simply request a refund but it won’t be easy.

What Is OpoFinance?

OpoFinance is a clever scheme designed to look like a legitimate broker.

Is OpoFinance a Scam Broker?

OpoFinance is a scam broker because its license is not appropriate.

Is OpoFinance Available in the United States or the UK?

The broker does not accept US clients but does accept UK clients.

Does OpoFinance Offer a Demo Account?

OpoFinance does offer a demo account on its website.

The online CFD and forex broker ROinvesting operates out of Cyprus. There, they have a registration with the Cyprus regulator, CySEC. Their parent company is Royal Forex Ltd. The company also operates similar brokers, GMO Trading and RoyalForex. Both of them have less than stellar reputations due to their high account and withdrawal fees.

Trading with ROinvesting

The suite of assets at ROinvesting is a bit lacking, with subpar currency pair offerings and a fairly standard swatch of CFDs on stocks, commodities, indices, and cryptocurrencies. Trading with the broker is through the popular MetaTrader 4 platform, with all of the tradings and charting features that traders are familiar with. They have leverage available up to the ESMA mandated limit of 1:30, but our ROInvesting review found reports that the broker is advertising the professional leverage of 1:500 for their retail accounts. High leverage can be dangerous and is typically offered by unregistered brokers like TradeFX.

Bad Reviews for ROinvesting and Company

Together with the other brands in the Royal Forex Ltd family, GMO Trading, and Royal Forex, ROinvesting has many negative user reviews online. The broker offers investment advice to traders through their account representatives. Many client reviews say that these representatives are far too aggressive, always pushing traders to deposit more money and open more positions. There are also the typical complaints about difficulty making withdrawals from the broker.

Broker Charges Massive Fees

The main reason that traders would want to shy away from this broker is their high fees. The minimum deposit with this broker is $250, above average but nothing shocking. The real trouble starts with withdrawal fees. Any withdrawal made before trading, like a trader changing their mind to close their account, will incur a fee of $50. There is another fee for any withdrawal of under $100.

Those are bad enough, but the inactivity fees that this broker charges are genuinely scandalous. After two months of inactivity, they charge a monthly fee of $80. The cost of the inactivity fees rises over time. After ten months of inactivity, this broker will charge a trader’s account $500 per month. We don’t see how any investor could choose a broker with this kind of fee structure.

Don’t Let a Broker Deny You Your Funds

You shouldn’t be leaving your money with a broker that has a fee structure so bad that their regulator issues a fine for it. If you have found your deposit eaten away by inactivity fees or held hostage by withdrawal fees, contact us today to look at alternative ways to get your money back.

FAQ

Is ROInvesting a legitimate broker?

ROInvesting is a broker registered by CySEC. This broker is owned by Royal Forex Ltd, a company also related to GMO Trading. All the brands of this company have very negative user reviews. Despite the CySEC regulation, we can say that this broker shouldn’t be trusted.

How the ROinvesting operates and is it a scam?

ROInvesting is operating highly suspiciously. The broker is charging massive fees to its clients and has many negative reviews. They are charging an incredible 50$ per withdrawal, and even more if the client wants to withdraw less than 100$. The broker is offering leverage up to 1:500, which is illegal by CySEC regulation.

Is ROinvesting legit?

ROInvesting is a CySEC regulated broker. It is a brand of Royal Forex Ltd, a company that owns several other brands. For every brand, there are multiple bad reviews. Clients are claiming that they cannot get their funds back, or even worse, they are overcharged for withdrawals. Therefore, we can consider the company not legit.