In the first place, the Biterrex cryptocurrency exchange claims to be registered with MSB in the United States. However, it’s hard to check without transparent ownership and legal information.

But if the company is any close to legitimate, they would provide a license number for easier research. Keep that in mind. In any case, you will quickly discover through our Biterrex review that not all details on the company’s website are reliable.

Legal Info: Is Biterrex Legit Or A Scam?

Biterrex company is one of those using all the dirty tricks to extort money from traders. In this case, they claim to have an MSB license. Firstly, they don’t. Secondly, they should obtain a Digital Asset Service Provider license or any kind of crypto regulation in the country where they operate.

We are checking the most trusted regulators like ASIC, BaFin, and FCA. But none of these hold any records of this company being regulated. Therefore, you can start questioning everything they say.

Who Are Biterrex’s Victims?

Another reason to be suspicious about this company is its statement about the registration date. Apparently, this firm was founded in 2015. Yet, the who.is research shows that’s a lie. The company’s domain was registered in September 2023.

On top of that, they claim to have a $65 billion average daily trading volume. With three months into the business, we highly doubt it. But traders that fell for these stories mostly come from: 

• Germany
• Sweden
• United Kingdom
• Austria
• Netherlands

But we are interested in hearing your opinion about this company. After all, there are zero Biterrex reviews. So, be the first to reveal something from the first hand. Also, contact us if you want to find out about refund methods.

Investment Costs With Biterrex

One of the most important things about this company is its lack of transparency. In general, the company doesn’t reveal any trading-related fees or commissions. Therefore, you can expect a wide range of manipulations there.

On top of that, they are practically working as a broker and not a crypto exchange. For purchasing crypto, they are redirecting traders to third-party options. Usually, that’s never a good sign.

Bonuses

Bonus offers with crypto exchanges are very rare. But if you get any, make sure to check the bonus policy first. In the case of this company and the Biterrex Earn program, you can expect some sort of incentives. Yet, the conditions for withdrawals or anything else remain unknown.

Biterrex Trading Features

Biterrex exchange practically offers crypto trading services in relation to USDT, BUSD, and fiat currencies. As for the trading features, they offer spot trading, crypto staking through third-party payment systems, and an earning program. However, the conditions for the Earn program are only visible to registered users.

Trading Platform Available

Fairly, the Biterrex spot trading platform is quite poor. It only offers basic charting options and zero analytical tools. On top of that, traders have limited ordering features and none of the advanced trading options, such as copy or social trading.

Available Trading Assets

Tradeable assets with this company are completely irrelevant. After all, if you can’t withdraw any profits, such assets are worthless. But if they are licensed, they would have quite solid offers like: 

• BTC
• ETH
• BNB
• ADA
• DOGE
• SHIBA + many more

Account Types

In general, crypto exchanges offer traders fairly better fees when they have a bigger trading volume. But that’s not the case with Biterrex company.

In this case, traders can choose to register a Premium/VIP account. The first thing for that is to have 0.1 BTC in the account. However, the requirements for activation remain unknown. That’s exactly what might be the catch to extort more money from traders.

Mobile Trading App

Another big sign this company is an absolute scam is a lack of trusted mobile apps. Don’t you think that a company that has an average daily trading volume of $65 billion should have a mobile app?

Can you just imagine all the commissions they are taking? Therefore, making a suitable and trusted mobile app wouldn’t be an issue. But since it’s all a farce, you can forget about such features. To learn what software options to avoid, read our tips from the Finero review.

Demo Account

Even though access to the platform is free, virtual funds are not provided. Therefore, traders don’t have the option to test fees and commissions with this company. But already at first glance, you can see why not to use the company’s features. Hopefully, very soon, some Biterrex reviews will tell us more.

Education

Since this company deals with highly risky cryptos, they should also offer an educational program. Sadly, that’s not the case with the Biterrex scam exchange. They would run away without thinking if anyone knew anything more than them. But to see why proper educational programs are necessary, check our Dualix review.

Biterrex Withdrawal

The key thing with any investment firm is the withdrawal procedure. If traders need to provide a whole lot of documentation and prove everything, there will be trouble. According to legal docs, this company generally charges 1% for internal transfers, 1.5% for all transfers, and 2.5% for insurance if needed. But without regulation, they can make any of these up.

On top of that, there’s a collection-related fee of 18% if traders don’t pay the fee. As long as customers are not paying any of the fees, they can build up the costs. Which is very common among scam companies. But if you look at Foxechange.com T&Cs, you will see the exact same conditions. If that’s a coincidence or not, let us know in the comments below.

Customer Support

Unfortunately, the only way to reach this company is through live chat. Thus, it’s only available for registered users. But keep in mind that with these options, they can ignore clients as long as they want.

Key Information To Consider About Biterrex

Everything about this company is suspicious. Starting with registration and license details. But also with platform, fees, conditions, and withdrawal options. 

Since withdrawal problems are definitely expected, we suggest you be prepared. For detailed guidance about what to do if you get scammed, feel free to contact our refund experts.

FAQ Section

What is Biterrex?

Biterrex is a crypt exchange registered in 2023 and not 2015 as they claim and that is not a member of the MSB licensed entities.

Where is Biterrex Located?

The company claims to be registered and regulated in the United States. But with too many shady allegations, that might be a lie as well.

How Secure is Biterrex?

The company earns zero trust points. Primarily because of misleading traders. If you are one of those, don’t hesitate to contact our refund team for advice.

This is a story about how a completely illegal company managed to steal tens of thousands of pounds using the oldest trick in the book. EXCHANGE SAFE is allegedly from Zurich, but in reality it’s far from the truth. Their lucrative investment deals with incredible returns are all a sham to attract more clients.

Read more about online fraud and how to keep your money secure in our EXCHANGE SAFE review.

Illegal Firm Placed On Blacklist

The address of EXCHANGE SAFE is allegedly in Zurich, which means they should be licensed by the Swiss main regulator. Instead of a commercial license, we found an investor warning while searching the FINMA database.

The jurisdiction of Seychelles is mentioned in the Terms & Conditions document. However, there is not a single piece of information about EXCHANGE SAFE in the FSA register.

Over time, additional fraud warnings were posted by the UK’s FCA and the international organization of financial regulators, IOSCO.

Seeing that EXCHANGE SAFE is not a regulated entity, you can’t expect them to play by the rules. The firm doesn’t provide any safeties in form of negative balance protection, or similar measures.

Where Do The Fraudsters Hunt?

The exchangesafe.com website holds copyright information dating back to 2014. Although the domain exists since 2004, Whois search has revealed that it hosts the EXCHANGE SAFE platform only since early 2023.

The fraud actively targets people from large financial centers:

• United States
• United Kingdom
• Canada
• Australia
• India

INVEST SAFE employs especially pesky boiler room agents. Over the phone, they act as financial experts, and offer incredibly lucrative deals.

They are known to use intimidation and threats if they suspect the victim is unwilling to pay more money. Contact our legal experts to find out how you can pull your funds from the EXCHANGE SAFE con.

Everybody Complains About Them

If you look at Trustpilot reviews, you will see a great number of fake comments posted by review seller networks. When you use the filter to see only 1-star reviews, however, a more dark picture will appear.

All of the actual client testimonials tell the same story. The company agents ask for larger deposits, but they don’t allow you to withdraw. In the end, you may need to rely on our chargeback experts to see your money again.

They Get You On Hidden Fees

Although deposits are advertised as free of fees, any bank wire transfer of over €50 is charged an undisclosed fee. The minimum deposit is £10 000 which is many times over €50, so each deposit incurs this hidden fee.

The account maintenance fee is €50 per month after 90 days of inactivity. Additionally, each account is charged a monthly withdrawal fee, even in the case the client does not wish to withdraw.

Company Offers Forbidden Bonuses

EXCHANGE SAFE offers bonuses ranging from 50% to up to 200% depending on the account type. These bonuses are allotted upon depositing assets.

It’s important to mention that any bonuses are banned in the EEA, and many other parts of the world. They are illegal in every nation where EXCHANGE SAFE operates.

Lack Of Transparency For Visitors

Some of the trading features with this company are not transparent when you visit exchangesafe.com as a tourist. You need to create an account, which requires you to consent to a slew of pseudo legal documents.

Once you’ve created an EXCHANGE SAFE login, the facade starts to pale. The trading platform is quite basic, and overall features are lackluster.

Borderline Useless Platform

Don’t expect a high quality trading environment from EXCHANGE SAFE, as they only offer the basic web trader like the EuroPrime scam. This web oriented application is favored by fraudsters everywhere.

It features all of the required trading functions, but the platform is poorly made and sluggish. Not that EXCHANGE SAFE cares for one bit, however. Your slippage losses are their net gains. Mobile app is not available.

Large Selection Of Assets

Faux companies like Binatex and EXCHANGE SAFE try to appear legitimate by offering a good selection of trading assets.

We can see that all of the most popular instruments are supported:

• Forex (EUR/USD, GBP/CHF, EUR/GBP, AUD/NZD)
• Cryptocurrencies (Bitcoin)
• Stocks (Airbus, Disney, Pepsico, Procter & Gamble)
• Indices (Nikkei, Dow Jones, S&P, WIX, DAX)
• Commodities (Coffee, Natural Gas, Gold, Palladium)
• ETFs (COPX, GLD, USO)
• Bonds (Long Glit, Euro Shatz, France Bond)

Expensive Investment Plans

Only live accounts are available with EXCHANGE SAFE, with no demo. They are managed as investment plans, and are not exactly cheap.

Here is an outline of different live account types:

• Basic – £10 000
• Silver – £50 000
• Gold – £100 000
• Premium – £250 000
• Platinum – £1 000 000

You Can Never Withdraw The Whole Amount

EXCHANGE SAFE is a typical Ponzi scheme. Clients will be able to withdraw a certain amount after some time, but never the entire invested deposit, no matter how high their alleged earnings are.

In order to get your money back from EXCHANGE SAFE, you may need to resort to legal action. Contact our team of experts via the live chat to learn about chargeback options.

Customer Service Doesn’t Care

You won’t be able to contact EXCHANGE SAFE customer support unless they want you to. The live chat function in their trading platform does not work, and nobody answers the phone.

While an email option remains, you can’t rely on this to resolve your problems in due time.

There Is A Way To Get Your Money Back

EXCHANGE SAFE is an unlicensed investment firm operating allegedly from Switzerland. The company has been placed on the blacklist of multiple regulators for their predatory behavior.

After doing thorough research, it has become clear that EXCHANGE SAFE is a Ponzi scheme. If you have money deposited with this bogus investment firm, contact our team of professionals to learn about chargeback options.

FAQ Section

What is EXCHANGE SAFE?

EXCHANGE SAFE is a dangerous fake investment firm. The company is not legally registered, or licensed to provide their services.

Is EXCHANGE SAFE A Scam Or Legit?

No, EXCHANGE SAFE is a completely illicit platform. Contact our chargeback experts to learn how you can get your money out of their platform before it’s too late.

What Are The Products Of EXCHANGE SAFE?

EXCHANGE SAFE offers trading, investment, insurance and retirement fund management. The company does not have a license for any of these services.

The company is operating from Kazakhstan according to FMA ( Austria ). They are offering crypto investment services to their clients. Going through the register of NBK (Kazakhstan), their main regulatory body, we found no records of MountainWolf broker.

This MountainWolf review will present you with the main disadvantages of investing with non-regulated companies like these.

MountainWolf – Is This a Trustworthy Investment Company?

On the company website, you don’t have any information provided about security. They provided only an option to create an account and basic information about investing in cryptocurrencies overall.

There is no contact or ownership information available. That’s exactly the biggest downside of non-regulated companies.

MountainWolf doesn’t provide any ownership information and it’s completely unregulated. Not even by the country’s regulatory body. Terms and conditions are a mystery, therefore it’s a big NO for this company.

Arguments For Trading With a Licensed Broker

Licensed brokers are providing clients with transparency. Anything in terms of trading information is provided before you invested any money. So, you can take a closer look and see what the company offers.

MountainWolf trading doesn’t have any licenses. Not to mention Tier 1 like FCA, BaFin or ASIC.

These are the most trusted ones and you should be always looking for companies that have one of those mentioned. We didn’t believe we would find anything. Anyway, we checked their register.

As expected, there are no records of MountainWolf broker.

Information On Any Warnings Issued by Financial Regulators Regarding MountainWolf

Once we checked their website, we were sure of one thing. That there will be a lot of warnings and red flags against MountainWolf broker. As expected, there are numerous Regulators issuing warnings :

• FMA ( Austria )
• CONSOB ( Italy )
• CNMV ( Spain )

We could see that they are scamming people from Germany, the US, Switzerland, Austria and Italy.

Login To the Account Using a Referral Code

The point is that you bring as many people as you can to this. Often clients who just came or the ones who recommended get some benefits out of it. Sounds like a Ponzi scheme. The company that is doing a job legitimately will not ask you to bring people.

That’s completely logical if something is working. Be careful with these cheesy tactics.

Analysis of Customer Reviews Related to MountainWolf

Through MountainWolf reviews we found that people are often complaining about withdrawals. There are only on TrustPilot around 26 comments and around 15% were with a negative experience.

We believe that good comments are fake, the same as the website. People were unable to withdraw their money. But when they tried to reach out to the company, it was like talking to an AI machine.

Which Platforms Are Offered by MountainWolf? – Trading Applications

This part was very interesting. The company doesn’t offer access to any trading platform.  Looks like the company is using external crypto wallets, but they present themselves as a trusted crypto investment company.

If you are going to use an external wallet, you don’t need a MountainWolf broker. Just be aware of the fact that cryptocurrency transactions are very hardly traceable.

What Financial Instruments Does The Platform Include?

The company offers only cryptocurrency investments. Some of them are against FIAT currencies. Available assets are the most known ones like:

• BTC
• ETH
• USDT
• Tether
• Cardano and more

These assets are very volatile and in trading could be risky. Therefore we suggest you go with regulated companies to minimize the risk of losing money.

MountainWolf Fraud Risk Zones – Service Countries

According to the research company is trying to reach clients from rich countries like:

• US
• Germany
• Austria
• Switzerland
•  Italy

People in these countries love rules. That’s why countries like these are so economically developed. Therefore, we expect people to be careful with this non-regulated company.

Different Types of MountainWolf Brokerage Accounts

It is not confirmed, but the company advert states they offer 3 account types:

• Basic
• Standard
• Professional

Basic investment conditions are unknown, except for the fees. Higher you go on the scale, the lower fees you should have. Since the company doesn’t have any license, all this information is speculative.

MountainWolf Access to a Free Demo Account

So, as expected, the company doesn’t have a Demo Account. Since they don’t provide any platform for trading, we really didn’t have any hopes here. Demo accounts are only useful to check what software the company is using.

We would always suggest people try micro accounts with a licensed company. Rather than a demo with a non-licensed one.

MountainWolf Terms and Conditions

MountainWolf is a master of hiding information. They don’t provide any trading details. They don’t actually provide clients with conditions about fees, withdrawals or commissions.

Even if you want to make a deposit, necessary information is missing. A huge red flag for MountainWolf broker.

Spreads & Commission

Since the company doesn’t have its platform we don’t have information about spreads. They trade on external wallets and conditions only depend on that other company.

The commission is unknown with MountainWolf. As people mentioned in MountainWolf Reviews, the company fails to process withdrawals. Often there are some unexpected fees, made up of course.

MountainWolf Broker Scammed You? – Please Tell Us Your Story

Don’t feel embarrassed if you were scammed by this company. It could happen to anyone. It is just important that you share your insight. That way you can help other people to be scammed as well.

If you don’t know what to do in situations like these, let us know. You can book a free consultation today!

What Is the Chargeback Procedure?

A good solution for situations where you have used a Credit/Debit card is a chargeback. It’s not rare that people get scammed. But banks are not lunatics. They know what is happening and you can file for this transaction to be reversed.

Our experts can guide you in your first steps. Contact us now!

What Is MountainWolf?

It’s a non-regulated cryptocurrency broker offering financial services to clients

since 2022.

Is MountainWolf a Scam Broker?

Since they don’t have any licenses, we can say yes. Other people’s
opinions would confirm that statement.

Is MountainWolf Available in the United States or the UK?

It is available only in the US, but not in the UK. Looks like they are reaching German language areas.

Does MountainWolf Offer a Demo Account?

No. The company doesn’t even offer properly real investment accounts.

If you take a look at Tradello’s legal documentation, you will not find any useful information about the company, its address, phone number, and most importantly, trading license. There are plenty of other shady details on its website as well.

Hence, we decided to analyze the platform in our Tradello Review just to show you why this scheme is extremely risky for you to get involved in. Learn how to identify cyber cons such as Tradello and Equitiz and what you should do if case you get scammed. 

Legal Info: Is Tradello Regulated?

Tradello, a virtually anonymous website, did not disclose key facts about the company’s legal background, address, phone number, license, etc. However, we dug through the Terms and Conditions and found this little piece of information.

The document mentions Saint Vincent and the Grenadines (SVG), a notorious offshore domain with no Forex regulations in force. If Tradello really is headquartered there, then the firm cannot possibly possess a Forex trading license, making the anonymous trickster dangerous.

Instead of trusting unlicensed imposters, you should stick to regulated providers operating under the supervision of esteemed financial authorities such as the FCA (UK), CFTC & NFA (US), ASIC (Australia), IIROC (Canada), BaFin (Germany), MAS (Singapore), CySEC (Cyprus), etc.

Who Are Tradello’s Targets?

According to godaddy.com/whois, the tradello.com website domain was created on September 2, 2021. Since then, the financial swindler has been targeting mainly unsuspecting traders who reside in the following countries:

• United Kingdom;
• United States;
• Germany;
• Pakistan;
• India.

These countries are known for heavy financial market regulations, especially the UK, the US, and Germany. A common law they all have in force stipulates that each financial market participant is required to possess a necessary license or permit. 

To reiterate, Tradello is an anonymous website that’s definitely not authorized to provide Forex trading services in these jurisdictions. The broker directly violates regulations by offering leverage higher than 1:30, which is the legal cap in Europe.

Trader Reviews – Sharing Experiences

At the time of this writing, Tradello received 13 reviews and an average score of 4.4/5 (excellent) on trustpilot.com. Even though these are all positive reviews, we suspect they aren’t honest.

For instance, all of the reviews were written in January 2023, in the span of 10 days. Quite unusual for a platform that has been active since 2021. It’s November now and there have been no new reviews, which casts doubt on the existing positive ones.

Incentivized feedback is a common trick scammers such as Tradello and Algo Management use to paint an illusion and deceive traders so please avoid trading on these platforms and instead stick to transparent and licensed providers.

Which Trading Platform Is Available?

Tradello claims to offer a custom desktop/web/mobile platform that supports trading popular instruments such as Forex currency pairs, commodities, stocks, and cryptocurrencies.

However, the website doesn’t offer a real demo account so we couldn’t check out this mysterious desktop platform. Whichever platform it is, we don’t recommend you download it and invest money in it.

If you want a pure trading experience, you should stick to licensed providers that support proper third-party software such as MetaTrader 4, MetaTrader 5, or cTrader. 

MT platforms are arguably the best in the industry, enabling traders to utilize innovative tools such as automated & algorithmic trading, advanced charting, live market reports, branch optimization, 20+ timeframes, EAs, a user-friendly interface, etc.

Available Live Account Types

Leverage, Spreads, Commissions, Demo Account

The maximum leverage that Tradello offers scales from 1:100 to 1:400, which is significantly higher than the legal cap for retail clients in Europe & Australia (1:30) and North America (1:50). High leverage can amplify potential profits but also potential losses, making it pretty risky.

Spreads allegedly start out from 0.1 pips and are variable. Commissions were not mentioned though. Without access to the platform, we weren’t able to confirm this.

The demo account is available under one bizarre condition. Namely, before the broker adds “virtual funds to your demo account, you must first open a real trading account. Once the real account receives funds, you should contact your personal account manager and receive up to $10K in demo funds.” 

What’s the point in having a free demo account if you first have to deposit real funds? If you are a beginner, you should not be risking real money straight away, which is why every legitimate firm nowadays offers a demo account. Tradello does not offer a demo account, which raises concerns.

Deposit and Withdrawal Process

Tradello states that there are three available payment methods that can be used to fund live trading accounts:

• Credit/debit cards (MasterCard, VISA);
• Wire transfers;
• Cryptocurrencies.

In case you deposited funds via MasterCard or VISA credit/debit cards, you can request a chargeback at the issuing bank within 540 days and reverse the transaction. Wires can be reversed via a recall but this action can only work for transactions yet to be completed.

The reason why scammers prefer crypto payments is that they are extremely hard to trace and reverse, plus such a method allows them to remain anonymous and run their schemes.

To reverse such transactions, you’re going to need to seek out professional assistance as these types of payments can be a nightmare to undo. Luckily, we have a team of experts that can help you recover your funds.

Key Facts To Consider About Tradello

To sum up our review, Tradello is an anonymous scam broker that targets mainly traders from the United Kingdom, United States, Germany, Pakistan, and India.

We do not recommend this platform because it is unregulated and allegedly based in SVG. In case you have also lost money to the Tradello scam, you must seek our professional help to recover your funds!

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 consultation with us today and start the fund recovery process.

FAQ Section

What is Tradello?

Tradello is an offshore trading broker that offers custom trading software with high leverage for Forex and CFDs trading.

Is Tradello Regulated?

No, Tradello is not regulated because Forex trading is not supervised in SVG. This broker is unlicensed and thus extremely dangerous.

What Can I Do If I Was Scammed Online?

We recommend you book a free consultation with us and tell us what happened. Our team can surely help you with the chargeback.

Minastax claims to be a straightforward crypto exchange with a simple dashboard and neat trading features. However, there are many irregularities and misleading information on the website, which raises concerns.

Similarly to Atomic Wallet, this exchange also has no license to operate and hold clients’ funds. We shall analyze the platform in our Minastax Review to show you the truth about the exchange and why you should stay away from it.

Legal Info: Is Minastax Regulated?

Contrary to the User Agreement, Minastax is not a transparent Australian provider. The bogus website then goes on to claim that the agreement signed between the client and the Minastax exchange is subject to Maltese laws and regulations. 

Yet, the shady firm is not registered with the Maltese Financial Services Authority (MFSA), which aligns its regulations with European Securities and Markets Authority (ESMA) laws.

ESMA issues MiFID passports to licensed entities, enabling them to operate across Europe while providing compensation contracts of up to 20,000 EUR in case of insolvency or suspicious losses. Due to the absence of regulation, it’s crucial to be aware that trading on this platform comes with risks.

Therefore, we recommend you trade firms that are licensed to operate under the jurisdiction of esteemed financial market authorities such as the FCA (UK), SEC (US), ASIC (Australia), IIROC (Canada), MAS (Singapore), CySEC (Cyprus), etc. 

Trader Reviews – Sharing Experiences

Beware as there are misleading Minastex TikTok videos online, showing how users get 0.31 BTC via a special promo code.

There is a Reddit thread in which one user asks the community about the Minastex Bitcoin offer. “There is no free money on the internet. The scam website is quite new,” another user answered, which is true. 

We must note that we have seen the recycled pages and content multiple times already, presumably because the same criminal enterprise is behind the crypto scheme. You should always check what people think about a certain platform because negative reviews and complaints can alert you about scams.

Who Are Minastax’s Targets?

According to godaddy.com/whois, the minastax.com website domain was created on October 5, 2023. For about two months now, the black hat crypto exchange has mainly been targeting unsuspecting traders who reside in the following countries:

• United States;
• Germany;
• Czech Republic;
• Venezuela;
• Kazakhstan.

Countries such as the US and Germany have strict market authorities that enforce heavy regulations. Minastax is not authorized to accept clients from any of the listed countries due to the lack of necessary permits and licenses. 

We have already stressed the fact that if you invest money in this platform, you cannot count on regulatory help or compensation so be cautious.

Swipe the bogus website through a webparanoid.com check and you’ll see that it has been flagged as suspicious with a low trust score. Website traffic is alarmingly low as well.

Which Trading Platform Is Available?

Minastex offers a relatively simple web dashboard designed for spot cryptocurrency trading. It supports a wide selection of popular coins such as Bitcoin, Ethereum, Dogecoin, Litecoin, Ripple, etc. Leverage trading is not available.

The platform provides users with basic tools such as graphs, charts, and indicators but lacks advanced options, making the trading terminal ineffective. Phony exchanges such as KoinDeFi do not offer reliable software. 

We thus recommend providers that support recognized third-party software such as MT4 or MT5. These platforms offer a wide range of cutting-edge tools such as automated trading, live market reports, advanced charting, a user-friendly interface, lightning-fast order execution, etc.

Outlined Fee Structure

Minastax imposes transaction fees on customers for buying or selling cryptocurrency, determined by monthly turnover and order type. Maker and taker fees are fixed at 0.20% for regular users and 0.14% for premium users. 

The exchange charges a commission on withdrawals with a minimum amount and a maximum limit not exceeding the available account balance. Specific fee figures were not disclosed though.

Suspicious Referral Program

The referral system at Minastax features three referral stages, each offering varying rewards based on the referral category. The first, category A referrals, offer a 50% commission, while category B referrals yield 10%, and category C 2.5%. 

Premium users currently have exclusive access to the referral system and the ability to generate an unlimited number of referral codes. Notably, there are no limits on referrals, allowing users to refer as many friends as desired. 

Furthermore, users receive a 0.01% (in BTC) reward for each new friend based on the sum of their deposits. While the program may seem tempting, it is most likely a Ponzi scheme, a type of investment scam that involves the payment of purported returns to existing investors from funds contributed by new investors. Don’t drag your friends into this mess.

Payment Process and Potential Issues

Minastax did not transparently reveal how users are supposed to deposit funds into their accounts. The most usual methods are credit/debit cards and wires. If so, you can request a chargeback at your bank provided that you haven’t already traded that money.

If you lose crypto on this cutthroat platform, determining where your funds went will be a difficult task. Reversing such transactions requires advanced crypto-tracing solutions like CipherTrace.

Should you experience any withdrawal-related issues on the Minastax platform, please contact us. We have experts who specialize in various fund recovery methods and we gladly offer our services. 

Key Information To Consider About Minastax

To summarize our concise review, the Minastax crypto scheme mainly targets traders from the US, Czech Republic, Germany, Venezuela, and Kazakhstan. The platform is not regulated and not approved by any financial authority.  

We do not recommend the exchange because it is nothing but an anonymous crypto hoax designed to deceive users through deceitful TikTok videos. 

If you have fallen victim to the Minastax scam and cannot withdraw your funds, we offer professional services and assistance. Book your free consultation with Scam Brokers Reviews today!

Book a free consultation with us and launch the chargeback process.

FAQ Section

What is Minastax?

The Minastax crypto platform is undoubtedly an illicit exchange scam run by an anonymous criminal enterprise.

Is Minastax a Legit Crypto Exchange?

No, this exchange is not legit. The platform is not regulated by a market authority.

Can I Recover Stolen Cryptocurrencies?

It’s challenging but possible. We can help you so please book a consultation with our experts.

Generally, when you are searching for a broker, you should always look for transparent ones. If possible, with transparent legal information, founders, contact details, and address. But also with regulations.

Count things you think that you may find out about this broker. If you did, let’s go through a detailed analysis in our unbiased CapitalMarket24 review.

Legal Info: Is CapitalMarket24 Legit Or A Scam?

Since the company is not revealing any ownership details, there is a very low chance they are legitimate. Primarily because legitimate companies don’t hide such information. In any case, we were looking for the firm trading name in all top-tier registers. Some of those are FCA, BaFin, and CONSOB.

Expectedly, the results were not good. Instead of regulations, the company was blacklisted by four trusted European regulators. Everything started with Austrian FMA. Later, that warning was reposted by CNMV (Spain), Finanstilsynet (Norway), and CONSOB (Italy). Yet, the company claims on its website that security comes first for them.

Who Are CapitalMarket24’s Victims?

Another detail discovered about this investment company is its targeted areas. Mainly, those are European countries with fairly wealthy populations and strict regulations. Those are: 

• Austria
• Spain
• Germany
• Switzerland
• Norway

With such good systems, traders should be able to sort all issues out very quickly. Yet, recovering funds might be a bit harder. For that, we suggest you talk to our experts and find out your options. But also, you can find some general advice in our Bitopya.net review.

Traders Reviews

The biggest pitfall for any trader is fake CapitalMarket24 reviews. As can be seen, only on Sitejabber can we see 70 comments and only one negative. So, why does the company have so many warnings if they are so good? The only conclusion is that it’s all fake.

If you have a negative experience with this firm, let us know. Ultimately, after analyzing your case, our team can offer you adequate guidance.

Investment Costs With CapitalMarket24

Generally speaking, traders can’t trust any bit of detail on the CapitalMarket24 scam platform, starting with trading conditions. Sadly, not all important details are revealed.

Nevertheless, the company claims to provide spreads “FROM” 1.5 pips. What’s the chance for that low spread? Close to zero. On top of that, they provide leverage of up to 1:500 without negative balance protection. A perfect recipe to wipe off your balance.

Bonuses

Another issue is that the company doesn’t reveal the bonus policy. Yet, they are offering a bonus of up to 100%. With this in mind, you should watch out for small print in any contracts. 

After all, it’s your money at stake. But to avoid other brokers with the same tricks, you should read our tips from the AAAFund review.

CapitalMarket24 Trading Features

Practically, the company doesn’t offer any relevant advanced features, such as copy trading, social trading, or Expert Advisors. Instead, they will link you with their senior market analyst. An expert at ripping people off. Also, those guys will develop a business plan and help you use TradingCentral for analytics. All to extort more money from you.

Trading Platform Available

The worst thing about this brokerage is its web-based platform. It’s barely a functional platform with only a placing order feature and minimum charting and analytical options. It would be a shame to compare it to top-notch apps like Meta Trader or cTrader.

Available Trading Assets

In general, vast tradeable assets are present on the platform. However, whether the market data is reliable remains a question. In any case, some popular options are: 

• Currencies – CAD/CHF, EUR/AUD
• Indices – IBEX35, DOW30
• Commodities – Brent oil, cocoa
• Shares – Lufthansa, Adidas
• Cryptocurrencies – BNB, BCH

Account Types

The account types with this firm don’t reveal many relevant details. The only trading-related information is about leverage and fairly unattractive spreads. Still, fees and commissions remain unknown.

In addition, the minimum requirement for the lowest account is insanely high. Especially when you know top-tier brokers require only $10 to get started. Anyways, the options are:

• Silver – 5.000 EUR
• Gold – 25.000 EUR
• Platinum – 100.000 EUR
• VIP – 250.000 EUR

Mobile Trading App

Another disadvantage of this company is that the trading platform is not optimized for mobile devices. It would be far better if the company developed apps and listed them in trusted stores. Thus, that’s not the case.

Demo Account

Exploring the platform features is always easiest with virtual funds. Yet, with a few functional options with the company’s platform, a demo account would be an absurd option. Even at first glance, you can see its downsides. Yet, with some more advanced brokers, it can be quite a suitable option to familiarize yourself with software.

CapitalMarket24 Withdrawal

One of the biggest issues traders can expect is the CapitalMarket24 withdrawal procedure. Firstly, processing time is not specified; according to them, it may take a few days. Secondly, the company is not disclosing withdrawal fees.

Yet, before all of these problems, you can expect verification issues. Surprisingly, they want to comply with KYC and AML laws. But in reality, it’s just a trick to prolong the withdrawal procedure.

Customer Support

If you were expecting to get adequate support from a CapitalMarket24 broker, forget it. After all, you have only e-mail and web contact forms available as options. Yet, working hours and some other quick-responsive options are not available.

Key Information To Consider About CapitalMarket24

All conditions with CapitalMarket24 Forex company are highly questionable. Starting with withdrawals, bonuses, fees and commissions. On top of that, the company is not regulated anywhere. And don’t forget all the warnings. Therefore, you should apply for a chargeback immediately before they disappear. For step-by-step advice, don’t hesitate to contact us.

FAQ Section

What is CapitalMarket24?

CapitalMarket24 is a mystic Forex and CFD investment firm found on the warning list of multiple trusted regulators.

Is CapitalMarket24 a Legit Broker?

Absolutely not. The company is not licensed by any trusted authority nor do they provide transparent services.

What is a Chargeback?

When a consumer successfully disputes the transaction report, the charge is reversed and returned to the payment card. This is known as a chargeback. Contact us and apply for yours.

Offshore firms are generally untrusted primarily due to the anonymous nature of their registration. Events like Wikileaks can help authorities expose most of the suspicious companies there. Meanwhile, users will have to learn how to deal with these firms.

Therefore, in this honest GGCCFX review, you can find all the clues you need for safe trading. Don’t miss a bit if you want your invested funds to be safe and protected.

Legal Info: Is GGCCFX Legit?

If you look at the company’s presentation, trading software, and reviews, you might think they are absolutely legit. However, this firm operated by Global Gold and Currency Corporation is not regulated by any top-tier authority—not even the ones in the quite popular United Arab Emirates. With this in mind, the company’s security features might be speculative.

All in all, the only security with this brokerage is liquidity provided by Tier 1 banks and segregated bank accounts for users’ deposits. Of course, without adequate licenses, these features are very questionable. So, be careful with it, or simply choose an FCA, BaFin, or ASIC-regulated firm for maximum protection.

Who Are GGCCFX’s Victims?

In most cases, unregulated brokers operate in countries with a high percentage of wealthy people. Consequently, they have a higher chance of catching someone to support their business. In the case of this trading firm, key priorities are: 

• United Arab Emirates
• Malaysia

To make everything worse, these countries’ authorities never issued licenses to this broker. So, if you want to find out how traders end up trading with similar firms, check our Tradstack or Equity CFDS reviews. All in all, if you have a hard time withdrawing funds from any of these, contact us for assistance.

Traders Reviews

Considering the company’s registration in 2023, we are surprised there are only a few GGCCFX reviews available. Fairly, the three comments on Trustpilot can’t give you enough clues about the company’s activities. Still, it’s worth checking.

Thus, with missing regulations, you can’t expect it to be like that for long. In any case, if you ever experience any irregularity with this trading firm, reach out to us for a refund consultation.

Leverage, Commissions, Spreads, Fees and Taxes

One of the leading issues with the GGCCFX broker is its leverage of up to 1:500. Due to regulatory restrictions, such conditions are not allowed with top-tier licensed firms. To be fair, those restrictions don’t exist without a reason.

In addition to that, in the beginning, traders can expect hefty spreads starting from 2.5 pips. Of course, these are floating, so you can expect a lot of variations. Even though the commissions are set to $0 for most accounts, a few accounts also include undisclosed swap rates.

Bonuses

If you sign up with GGCCFX trading firm right now, you will get a 15% welcome bonus. However, detailed conditions and withdrawal policies are not revealed.

GGCCFX Trading Features

One of the key features of this broker is the “no dealing desk,” which gives you straightforward quotes. Also, with the platform offered, traders can use EAs and hedging to take advantage of the market. Thus, all the abovementioned options become meaningless if you can’t withdraw your money.

Trading Platforms Available

According to the company’s presentation, they offer the highly popular MetaTrader 5. It allows users to use real market data, place and manage orders, and use a wide range of advanced trading tools. 

In any case, web terminal and download options are available in all GGCCFX account types. Thus, it’s sad the company doesn’t have any licenses to make this platform worth it.

Available Trading Assets

Tradeable instruments can play a big role in a trader’s decision to choose a broker. But keep in mind security plays a much bigger role. With this in mind, we present you the offer of GGCCFX trading firm that consists of:

• Forex – USD/GBP, EUR/CHF
• Indices – FTSE100, ASX200
• Cryptos – ETH, DOGE
• Commodities – natural gas, copper
• Shares – IBM, AMD
• Futures                    

Account Types

The only benefit provided through the account types with this broker comes with lower spreads and higher leverage. On the positive side, once you complete the GGCCFX login process, you can opt for a micro account first. 

In any case, all options are: 

• Micro Voyager – $10
• Standard Strategist – $500
• Market Master – $2.000
• Foresight Finder – $5.000

Mobile Trading App

As can be seen, mobile apps are available for download on the company’s website. Luckily, links guide to trusted stores for iOS and Android devices. However, traders should keep in mind that mobile versions don’t include all the features that desktop one does.

Demo Account

Quite surprisingly, even with MT5 availability, there’s no demo account in the offer. Usually, top-tier firms that offer this platform have it included completely free. 

However, in the defense of this broker, they have low minimum deposit requirements. Thus, the security remains questionable.

Education

Considering GGCCFX Trustpilot reviews, you might think the company has everything for one trader. But the reality is a bit different. Even though amazing trading tools are available, they are worthless if traders don’t know how to use them. Sadly, educational programs are not available at this firm.

GGCCFX Withdrawal

With quite a poor GGCCFX withdrawal policy, it’s hard to clarify how withdrawals are processed. The most concerning detail is hidden withdrawal fees, which can cost you quite a lot.

But don’t forget that the processing time has not been revealed, so you can expect a lot of delays in the whole process. In general, nothing the company claims, even its payment methods, can be trusted without adequate regulations.

Customer Support

With all the contact options and 24/7 availability, traders should have a comfortable experience with this broker. Especially since they offer a phone line and live chat options. Thus, with unregulated brokers, you never know whether that will change.

Key Information To Consider About GGCCFX?

The positive aspect of trading with this brokerage is the MT5 availability. But to be fair, that’s the only one. On the contrary, the company operates without regulations, with high spreads and leverage and unclear commissions and fees, not to mention unclear withdrawal procedures and withdrawal fees.

With all these downsides in mind, it’s clear traders can experience issues. However, if that happens, you can always reach out to our refund specialists and have a free first consultation. We are there for you whether you need CipherTrace to track crypto or chargeback assistance. Get in touch right away if you have any questions.

FAQ Section

What is GGCCFX?

GGCCFX is an offshore trading firm registered in Saint Lucia with operating offices in the United Arab Emirates.

Is GGCCFX Legit?

Even though they offer transparent services, these services are not backed up by any trusted license. Consequently, issues are possible. If you experience any issues, contact us for advice on refunds.

Who Owns GGCCFX?

GGCCFX broker is owned by Global Gold & Currency Corporation, a firm registered in Saint Lucia under number 2023-00460.

Knowing what to look for in a broker can make a whole lot of difference. For instance, this firm claims to be registered in the UK. They even provide a registration number. But the ones who know where to look will find the truth.

However, we are here for all traders who just want to quickly discover if they can trust a broker or not. If you find this Trade Galactica review helpful, let us know. But also, don’t miss out on our review on Nordic CT. You might find some bonus tips.

Legal info: Is Trade Galactica Legit or a Scam?

Trade Galactica brokerage is far from legitimate, to be fair, straightforward. Firstly, any broker in the UK must have an FCA license or be registered on the TPR. Yet, this brokerage doesn’t. Secondly, if they are trying to be legitimate, they could get any other tier-1 regulation. For example, CFTC, BaFin or ASIC.

Without these, you definitely can’t expect this company to comply with everything they say, but only to things that go in their favor. With such business practice, this company has earned a warning. It’s coming from the other part of the world – Canada. The institution that was breaking the ice was the Nova Scotia Securities Commission (NSSC).

Who are Trade Galactica’s Victims?

Generally, Trade Galactica reviews reveal a lot. Primarily, this firm is targeting some countries that are listed as restricted due to applicable laws. Some of those countries are: 

• Canada
• Switzerland
• United Kingdom
• United States

All countries with highly reputable regulators. Still, traders opt for unregulated companies for some reason. But if that was you, let us know and share your experience with us. Ultimately, our refund team can build you a strategy for funds recovery if that experience is not good.

Traders Reviews

In general, more than 25% of traders have some complaints against this company. Currently, there are 83 comments on Trustpilot, and the positive comments are getting overnumbered.

Traders were mainly facing withdrawal problems, constant pressure from agents to deposit more money and support contact issues. If you were experiencing something different, let us know in the comments below. Also, you can contact us directly for quick feedback and advice.

Leverage, Commissions, Spreads, Fees and Taxes

Important to realize is that the company is not revealing any of the trading conditions. Primarily because they know if they reveal their leverage, they will get exposed even faster. Simply because all UK brokers can offer a maximum of 1:30 to retail customers.

Thus, the most disturbing fact is that none of the costs are transparent. Therefore, the broker can make up anything they want. Still, inexperienced traders might bite it and pay the sum.

Bonuses

Another key issue is that the company is offering a welcome bonus of up to 35%. Even though it doesn’t sound like a lot, it is.

Primarily because traders have a requirement to reach the trading threshold of the bonus amount times 20.000. Otherwise, they can’t withdraw any bonus funds, including profits generated with the bonus. But guess who decides what’s generated with the bonus? Only Trade Galactica scam broker.

Trade Galactica Trading Features

One of the main advantages of this firm is the Trade Galactica MT5 platform. But even that is suspicious at some point because the company doesn’t provide download options. Instead, they guide clients to the login terminal. Sadly, a demo account is not available, and the platform remains questionable.

Another key issue is that the company is mainly promoting suspicious remote-controlling apps, such as AnyDesk, TeamViewer, and ScreenLeap. Bear in mind not to allow them any access to your devices.

Trading Platforms Available

If there is MT5 available, traders won’t have to worry about manipulation. In any case, with MT5, traders would enjoy all of the advanced benefits the platform offers. If it’s available in the first place.

However, if the broker offers you a proprietary web-based platform, you better run. These platforms are the best tools and something scammers are dreaming of. Primarily because traders don’t even realize what’s happening.

Available Trading Assets

Another surprising thing about this company is its lack of transparency about tradeable instruments. Still, if the company was regulated, this would matter. This way, it doesn’t. 

Therefore, you can start looking for other brokers already. But first, check our PNX Finance review to avoid other traders’ mistakes.

Account Types

As can be seen, Trade Galactica account types offer various benefits but at different stages. The benefits solely depend on the amount you have deposited. However, all benefits without regulations can be considered hypothetical. Therefore, traders can choose: 

• Starting – $2.500 
• Basic – $10.000
• Standard – $50.000
• Bronze – $175.000
• Silver – $600.000
• Gold – $1.000.000

Mobile Trading App

Generally, the MT5 mobile app is one of the best in the industry. Quite user-friendly, optimized, and fast. Not to mention that traders don’t lose any functionalities. However, links to trusted stores for it are not available on the company’s website.

Demo Account

Considering that Trade Galactica’s minimum deposit starts at $2.500, a demo account would be a suitable feature. Yet, they don’t offer it. Either because of insanely high costs or because they don’t offer MT5. All in all, it’s not good.

Education

In fact, there is some kind of education available with Trade Galactica scam broker. It’s divided into beginner, advanced, and crypto VODS. Overall, nothing that you can’t find yourself.

Trade Galactica Withdrawal

On average, the withdrawal process should take between 7-10 business days. Thus, many clauses in the withdrawal policy will most likely prolong that time. Not to mention that only crypto transfers are available without transparent fees. All in all, the perfect soil for manipulation is prepared.

Customer Support

Even though the company’s support might appear legitimate, don’t rush. Nowadays, phone lines are often obtained through VOIP services. Therefore, untraceable. 

Instead, you should opt for companies with landlines. Not to mention, this brokerage is offering traders WhatsApp and Telegram contacts. Both are encrypted and safe, so they are not exposed.

Key Information To Consider About Trade Galactica

Firstly, the company is not licensed in the UK. Fairly, that should be enough. On top of that, the company is offering a hidden platform, and hidden conditions and has a malicious bonus and withdrawal policy.

Anything that could go wrong will go wrong with this scam broker. But when it happens, our chargeback specialists are available for consultation. Don’t miss out on the chance to get your funds back. Get in touch now.

FAQ Section

What is Trade Galactica?

Trade Galactica is a fake brokerage offering FX and CFD trading services allegedly from the United Kingdom but without legal registration.

Is Trade Galactica a Legitimate Broker?

Not at all. They are not licensed in the UK or anywhere else. Also, there is a warning issued against them by the Nova Scotia Securities Commission.

What is a Chargeback?

Chargeback is a method for card transfer reversal in case the customer files a complaint for a scam. If you want to get your money back, get in touch.

After several years of disappearance, this old brokerage fraud decided to come back to life and steal more cash from Forex investors. Today, the website claims to offer security, speed, optimized tools, and most competitive pricing to elevate your trading journey. None of that stands, however, considering that the firm is still as illicit as ever.

Read this BnbTrades review to learn more about what had previously caused this domain to go inactive and then revive again.

BCSC Caused the Previous Shutdown

The BnbTrades Forex scam has an interesting history. As soon as the website was established in 2015, it was blacklisted by BCSC which is why the fraudsters went off the grid. 

However, several years later, the website went live again, this time claiming to operate out of the UK and under full regulatory supervision. The address published on the site is most probably fake, as the firm is not found in the FCA register of licensed broker dealers. Moreover, the firm is not regulated by any other diligent regulator, like BaFin, CySEC, NFA, CNMV and FINMA.

Read our AEFOREX review to understand why transparency and proper licensing mean for fund safety, compensation options and risk reduction. 

Passive Income as the Main Bait

By promoting high returns and stable income, the broker’s ponzi scheme grew bigger by the day. Their scam operators usually posted on social networks, such as LinkedIn, and advertised great conditions for earning via an affiliate bonus.

The BnbTrades broker has been attracting victims this way since the domain was again initiated in 2021. Fraudsters usually focus on the more developed nations to find new victims. By that we mean countries like:

• Switzerland
• Germany

This is an illustrative example of how promises of guaranteed income are nothing but a lie that turns Forex traders into financial hostages. Refrain from investing cash into such schemes and contact our legal advisors for help with money recovery.

Artificial Reviews Increase Popularity

So far, BnbTrades reviews can only be found on Trustpilot. Current total of 28 reviews makes for an average rating of 4.5 stars. This is unrealistic and doesn’t resemble the actual quality of service. 

However, it is characteristic for the  fraudsters to try and come off as legit, credible and trustworthy. They achieve that with the help of review selling networks. If the clients’ opinions were honest, the average rating would be no better than that of another fraud –  X-F24.

Unimpressive Trading Fees

Clients that wish to start off with the cheapest package are faced with pretty high trading costs which include starting spreads of 2.8 pips. More expensive accounts unlock lower spreads of just 0.1 pips, but these will cost you an arm and a leg. Leverage, on the other hand, gets higher with the account price and the higher ratio is 1:400.

The BnbTrades scam overcharges the inactivity on idle accounts by automatically deducting $100 monthly. Other charges aren’t revealed, but this is a blacklisted firm and you can expect countless minor fees and commissions.

Poor Performance Expected

We can confidently say that opting for a BnbTrades login brings zero benefits or advantages. This online trading portal can’t even compare to industry leading brokerage platforms. Keep reading this review to find out why.

Generic Web Software

Quick registration procedure opened the way to the BnbTrades app which is nothing but a rudimentary, bogus online trading terminal. Frequently used by blacklisted companies, these unreliable portals present counterfeit data and are completely untrue to the market conditions. 

You can’t possibly trust such rigged software to show true profit or price fluctuations when you know it’s being controlled by the con artists.

Tradable Assets Assortment

Only a couple of groups of standard and most popular trading instruments are supported by this firm:

• Cryptocurrencies – BCH, BTC, TRX
• Precious metals – Gold, Silver, Platinum
• Forex – EUR/USD, USD/CAD, USD/NZD
• Shares – BMW, Johnson & Johnson, Alcoa
• Indices – Dax, Dow Jones, Nikkei
• Commodities – Coffee, Sugar, Wheat

Prices Make no Sense

Every single BnbTrades account is absolutely overpriced without a single reason. Considering the whole offer is provided by a company labeled as a scam by a regulator, there’s no way any of the alleged features are there. Nonetheless, the pretentious cybercriminals behind the company dare to demand these deposit amounts:

• Bronze – $12.500
• Silver – $25.000
• Gold – $75.000
• VIP Platinium – $150.000

Anonymous Transfers

The only accepted monetary channel is crypto. Users can submit their BnbTrades withdrawal request through the user dashboard, but can only select between several crypto coins (Bitcoin, Ethereum, Tron). 

Despite that, legal papers claim that there’s also credit cards available and these transfers require a minimum amount of $50 to be completed. Because of such opposing information, it is clear that this brokerage cannot be trusted!

Quick Replies Promised

This company claims that they have assembled a professional customer support team which is available 24/7 for all client inquiries. At that, the crew is supposedly so competent and fast that they can quickly reply to any question. Unfortunately, this turned out to be a blatant lie, considering that our appeals never got an answer.

Get Your Investments Back!

Dealing with financial fraud is never easy, especially how ruthless con artists can be in their deception. If you’ve found yourself in a seemingly unsolvable situation, please don’t hesitate to contact us at any time.

Our professional chargeback team is always at your disposal to advise you and help you with cash recovery. Book your free consultation with our experts and find out how you too can get your stolen capital back from scammers.

FAQ Section

What is BnBTrades?

This firm is run by anonymous Forex trading charlatans and schemers that promote quick gains.

Is BnBTrades Legit?

No, the conduct was even blacklisted when it was first initiated in 2015.

Who Owns BnBTrades Broker?

It remains unknown who is the real owner of this fraudulent entity. If you too are having issues with withdrawal requests, please contact us for help promptly.