Here, we have an example of a very well orchestrated con. Vittaverse Review will tackle all the facets of this fraudulent company, and show you the minute details and problems of this broker. With only the company registration being legitimate, every other aspect of trading through this brokerage puts your finances at great risk.

Is Vittaverse a Regulated Broker? Which License Do They Own?

Vittaverse has made available the information on the address of their company HQ, and the company registration. This information checks out, as Vittaverse LTD is legitimately registered in St. Vincent and the Grenadines… But there is a problem with this.

You see, SVG has recently stopped regulating VASPs, or Virtual Asset Service Providers. We call them “online brokers” colloquially. After checking the databases of prominent financial regulators around the world, we found out that the company does not own any trading license.

The obvious dangers with unregulated brokers is that they answer to no-one. Because of this they quickly turn to defrauding their investors. There are other risks, however, and for this reason we should consider to which conditions a regulated broker must adhere for risk-mitigation purposes.

In the EEA, there is a MiFID transnational agreement, which is dictated by ESMA and requires complete financial transparency.. Regulators in the EU require from their brokers at least €730 000 of starting funds, and a compensation scheme of €20 000 before they issue a license. Additional requirements include Negative Balance Protection, and Segregated Bank Accounts. Maximum leverage is 1:30 for Forex and CFDs, and 1:2 for Cryptocurrencies. Bonuses are not allowed anywhere in the EU.

In Canada and the US, these requirements are somewhat different. Where Canada requires an initial capital of CA$1 000 000, the US is much more stringent with their US$20 000 000 requirement. Neither the US or Canadian regulators require Negative Balance Protection. The maximum allowed leverage is 1:50, and bonuses are allowed in both jurisdictions. The main difference is that Canada does require a Compensation Scheme, unlike the US. Of course, the brokerage must be completely transparent financially.

Now, we have mentioned that we’ve searched the databases of Tier-1 regulators around the world. These include BaFIN, FCA, CONSOB, FMA, FINMA, New SRO, NFA and CBR. Neither of them have any information about Vittaverse. This proves our claim that Vittaverse is an unlicensed broker.

Who are Vittaverse victims?

Vittaverse has been in their illicit business since at least 2022. In this time, they have managed to get into the wallets of citizens from many developed nations. They mostly attract their victims through the combination of competitive prices that regulated brokers simply can’t match, very large leverage of 1:500 and referral programs.

• United States
• Canada
• Turkey

These promises of large financial returns for referring your business associates, friends or even family are well known with con artists. Many Pyramid or Ponzi schemes use these tactics to steal from more people. If you suspect that somebody has been soliciting the services of Vittaverse, or have already deposited money with these swindlers, consider seeking legal help as soon as possible.

Vittaverse’s Leverage and Spreads

Vittaverse openly advertises an exceptionally large leverage of 1:500 for their traders. This includes the majority of trading instruments, such as Forex Pairs and different CFDs. The leverage for Cryptocurrencies is lower, set at 1:10. This seems like the risk is lower, but as you remember, most of the developed countries do not allow the leverage on Cryptos to be higher than 1:3.

We couldn’t find any data on how tight or loose the spreads are at Vittaverse. This information is not shown openly on their website, and you may not see it through a trading application unless you verify your account. The lack of transparency with Vittaverse is yet another reason why we don’t recommend this brokerage.

So far, the most affected nations of the Vittaverse scam are these:

What Types of Bonuses Are There?

Vittaverse does not offer one-time bonuses for any deposits. Instead, this faux broker uses another fraudulent strategy that is even more dangerous. You will see later in our Vittaverse Review how these swindlers require concurrent payments that continually bleed your money. The dream of quick and labor-free income is just that, a pipe dream.

Vittaverse Trading Features

We’ve already reviewed some of the basics, such as spread and leverage. When it comes to trading assets, there is a rather large variety. This includes different CFDs, Forex Pairs and even Cryptocurrencies.

The trading applications are top-notch at Vittaverse, but there are many reasons why you should avoid this brokerage outright. Stay with us as we delve deeper into which bait Vittaverse uses to lure new victims.

Various Products That Vittaverse Offers

There is a very hefty selection of different tradable assets with this broker. The instruments are divided into several categories, with a great number of choices in each. As there are simply too many to just name them, we have created a list of categories with the most popular examples in each.

Here is what you may trade through the Vittaverse broker:

• Forex – 103 pairs, including EUR/USD, AUD/CAD, USD/CHF and GBP/JPY
• Cryptocurrencies – 136 coins, including Bitcoin, Ethereum, Litecoin, Dogecoin
• Indices – 13 assets, including DAX, Nikkei, Nasdaq
• Stocks – 119 assets, including Tencent, Apple, Tesla, Honda
• Commodities – 16 assets, including Gold, Palladium, Wheat, Cocoa
• ETFs – 16 assets, including GLD, USO, VEA, QQQ

Vittaverse Trading Account Selection

Vittaverse only offers a single trading account for their clients. Once you login to the main account, you may create multiple sub-accounts with this broker. Each of these are slaved to the main account. This is done in order to facilitate the various investment plans, of which we will discuss later in our Vittaverse Review.

The minimum initial investment with Vittaverse is $100. The main account is available through all of the trading platforms this broker offers.

There Is No Free Demo At Vittaverse

Vittaverse really tries hard to appear legitimate. Their dashboard does mention a demo account, but there are no options to create such an account. When we contacted the customer support, they directed us to a video tutorial, and indeed it contained the options to create a demo… But it was still unavailable in our dashboard.

It is quite possible that Vittaverse only offers the demo to verified clients who have already deposited funds, but that defeats the entire purpose of a demo. The majority of these scam brokers don’t offer a demo account, and Vittaverse is no different. You will notice that Coinexab employs the same strategy.

Vittaverse Uses Predatory Investment Plans

Investment plans at Vittaverse are made in such a fashion to encourage frequent recurrent payments. This broker advertises a 70-30% investment opportunities, with large returning benefits for successful trades. If you lose funds when speculation, well tough deal. You just lost a part of your benefits.

While the 4 daily lost investments sounds like a risk mitigation plan, it’s a play on your psyche. They use gambling entrapment strategies to make you spend more money in order to remain eligible for a large “investment bonus”! There is even an ongoing competition, with the first prize being a $500 000 in tradable funds injected by the company into your trading account.

Don’t fall for the trap! Their “Evaluation Process” is just another way to make you spend more of your money! 60 consecutive successful trades is an unrealistic target for which even the most seasoned professional traders would struggle to accomplish!

Trading Platforms Available at Vittaverse

You might say that we were pleasantly surprised when we found out that Vittaverse offers the industry standard MT5 and cTrader programs. This doesn’t change the fact that they are a fraudulent company, and you should not take the existence of these trading applications as a measure of honesty.

You should know that the majority of scam brokers, CapitalsWise for instance, use the Web Trader software instead. This platform has poor security, and swindlers use it to their advantage. They purposely tailor the market data to make you lose money faster.

Vittaverse Mobile Trading App

Both of the trading applications that Vittaverse offers are available on all mobile devices. cTrader and MT5 are some of the best trading applications around in this regard. They feature full compatibility with both Android and iOS.

Although this would be a welcome addition to the service of any licensed brokerage, we can’t really say the same applies with regulated brokers.

Vittaverse Withdrawal

Vittaverse Withdrawals are a difficult topic to discuss. There is a minimum currency amount for both deposits and withdrawals with this broker, but they may only be done with different Cryptocoins. These may be stable coins, like USDT or true Cryptos like Bitcoin. These transfers are exceptionally dangerous, as they don’t facilitate the chargeback options offered by more traditional fund transferring mechanisms like Bank Cards.

There are ways to track these transfers, however. Cypher Trace is one of the programs that allows you to find the origin and the destination of Crypto Transfers.

The problematic part comes with the Terms and Conditions, which do not cite any payout circumstances. Without verifying your account, or better said sharing your private information with the con artists, you can’t access deposits or withdrawals in your dashboard.

There are many people who have fallen for the Vittaverse trap, and now find themselves in a bind, unable to withdraw their money. If you have been fooled in such fashion, don’t hesitate to ask for legal help. It’s your money – don’t let the thieves just walk away with it!

Vittaverse Customer Support

Vittaverse customer support is available 24/7. Their agents are very quick to respond, especially through the Live Chat.

That said, they don’t seem to be able to answer your tickets properly. For instance, when we asked about creating a Demo account, the agent seemed completely unaware that the option for a Demo in MT5 is non-functional. They kept insisting that the Demo is available, and that we were doing something wrong instead.

However unreliable these Customer Support Agents are, you may contact them via Telegram, Instagram, Facebook, Email and Live Chat if you wish to.

Final Thoughts: Is Vittaverse a Good Broker or Not?

Although our first impression of Vittaverse was quite good, the thread quickly began to unravel. The more time we spent researching this company, the worse the foul stench of fraud became. The website is top-notch, and seemingly so are the trading conditions… But the company does not have any trading license whatsoever!

Besides the lack of regulation there are ample other reasons why we don’t recommend this broker. Their Terms & Conditions don’t cover the payout conditions, and their funding methods are Crypto only. Customer Support Agents don’t seem to know what they’re doing, and the website does not contain any Spread, Fee or Commission information. The Investment Plans require frequent deposits, and they try to pull more people into the whole scheme through a Referral Program.

If you have by any chance already deposited funds to this broker, you need to consider charging it back immediately. Don’t wait for the last train, and book your free consultation with our recovery agents as soon as possible. Our team of legal professionals is on hand, and we’d like to hear your experience so that we may help many more people who have already been defrauded by Vittaverse. You may connect with our company through Live Chat, for the quickest response, and remember – the first consultation is absolutely free!

What Is Vittaverse?

Vittaverse is an illicit offshore brokerage based in SVG. They are a company that should not be trusted, and if you have already deposited your money, you should consider seeking legal help as soon as possible!

Does Vittaverse Offer a Demo Account?

Don’t believe what Vittaverse advertises on their website, as they don’t feature a demo account for their platforms.

Is Vittaverse a MetaTrader 4 Forex Broker?

Although Vittaverse features cTrader and MetaTrader 5 support, this company does not offer MetaTrader 4 to their clients.

According to the company, Paramount Markets Limited is licensed in Saint Lucia with a number 2023-00643. Thus, with offices in the United Arab Emirates, we would expect much more from this firm.

In any case, they present themselves as a business established 10 years ago and with more than 25,000 traders. If these details are true or not, find out by the end of this FX Paramount review.

Legal Info: Is FX Paramount Legit Or A Scam?

First, we have to cover the company’s regulations. FSRA in Saint Lucia has never issued a license to this broker. Even if they did, such licenses don’t authorize them to provide services in any top-tier regulated country. Instead, the company should have FCA, BaFin, CFTC, ASIC, or similar regulations. Of course, they don’t.

Even though the company claims “Trust is their currency,” you can realize it’s all a farce. After all, with non-existent legal documents, you know what to expect here. On top of that, with the alleged 25,000 traders, you can’t find any FX Paramount reviews. This tells you all about their services.

Who Are FX Paramount’s Victims?

Some countries that are the primary targets of this broker require specific regulatory oversight. Yet, this firm doesn’t care. So, if you come from these countries, be careful: 

• United States
• Germany
• United Arab Emirates
• Turkiye

Another problem is that the company claims to be active for more than 10 years. Yet, the domain they are using was registered in 2016. On the other hand, the other domain fxparamount.trade was registered in 2023. In any case, both of those were updated just recently in 2024. So, if you were one of their victims, get in touch as soon as possible for advice on refunds.

Leverage, Commissions, Spreads, Fees and Taxes

One of the positive things about the FX Paramount broker is its transparency about trading conditions. The potential problem might be whether they will comply with those or not. In any case, traders can expect spreads starting from 0.0 pips, commissions of up to $7 per lot, and even swap-free accounts—except for the Pro account, where the swap rates remain undisclosed.

In any case, the offered leverage goes up to 1:1000. Surely, this is not something any top-tier regulator would accept. Such high leverage can easily wipe out your account balance. This is highly possible if the company uses proprietary trading platforms where they can manipulate such details.

Bonuses

Without transparent legal details, it’s hard to inspect if the company offers any bonus deals. Transparently, not. But once you register, you can expect anything.

FX Paramount Trading Features

One of the advanced options with FX Paramount trading firm is the copy trading feature. This account doesn’t include any commissions, but there will be a 5% platform fee. Sooner or later, you will owe them something. Same as the traders who trusted Tyark brokerage.

Trading Platforms Available

According to the company’s presentation, Meta Trader 5 should be available. However, you learn with experience not to trust anything before you register. So, if you sign up and get anything else except MT5, you know you are getting scammed.

Available Trading Assets

Whatever your trading desires are, you can satisfy them with the assets offered in FX Paramount account types. All in all, you can trade all five major classes:

• Forex – USD/GBP, AUD/NZD
• Indices – ASX200, DAX30
• Commodities – gold, platinum
• Shares – IBM, Tesla
• Cryptos – ETH, LTC

Account Types

When it comes to the account types, traders can choose between four options. Fairly, none of these look as greedy as you would expect from an unregulated broker. The minimum to start with is as low as $10, and all options are: 

• Standard – $10
• ECN – $100
• Pro – $5,000
• Copy trade – $300

Mobile Trading App

If you are looking for the FX Paramount app for mobile devices, you’ll have the MT5 download option. However, that doesn’t necessarily mean you will have the option to trade on your account there. The same advice you got for the desktop platform works here.

Demo Account

Generally, when companies have Meta Trader in the offer, they usually offer a demo account. There’s nothing to be hidden. With this broker, that’s not the case, and that raises suspicion if they have MT5 at all. 

Unfortunately, many brokerages have the same tactics, as can be seen from our BCInvesting review.

Education

When it comes to education, the company only provides one page with a few answers about Forex and trading in general. If you are looking for webinars, live sessions, or some advanced education, this broker is not the right place for it. Certainly, after this, not even the FX Paramount minimum deposit of $10 is worth it.

FX Paramount Withdrawal

The key concern with the FX Paramount withdrawal is the company’s withdrawal policy. They reserve the right to change processing time without prior notice. So, they can manipulate you all day long. With this in mind, can we trust the withdrawal conditions? Anyway, two options for a withdrawal are available: cryptos and wire transfer.

Withdrawals should be processed within 24 hours, and wire transfers should include a $50 withdrawal fee. On the positive side, cryptos include 0%.

Customer Support

As can be seen, the company advertises 24/7 customer support. Available contact options are e-mail, phone line, and call back request form. If you can’t get in touch with them, there’s only one thing to do. Apply for a refund as soon as possible.

Key Information To Consider About FX Paramount

In the first place, the company is misleading traders about regulations, the number of active traders, and the registration date. That’s more than enough to keep your money away from them. However, with low deposit requirements, copy trading options, and MT5, they can easily attract inexperienced traders. 

Hopefully, you will find this FX Paramount review sooner and realize this broker is not genuine. If that’s not the case and your money is stuck with them, contact us immediately for free professional refund advice.

FAQ Section

What is FX Paramount?

FX Paramount is an offshore brokerage based in Saint Lucia and registered offices in the United Arab Emirates.

Is FX Paramount Legit?

No. FX Paramount broker misleads traders about license, registration details, number of traders, platforms, etc.

What Should I Do If a Scam Broker Has My Money?

In those situations, you should immediately report it to authorities and apply for a refund. For refund assistance, you can reach our experts anytime.

Even after attracting attention of several major EEA regulators, EuroXTradeFX continues to promote their shady services and still attempts to defraud traders. It seems all the blacklists just weren’t enough of a warning for this unscrupulous entity to cease their suspicious activities at once. 

EuroXTradeFX still claims to be a reputable broker from SVG, with a UK company registration. None of it being even close to truth, this firm is anything but reliable. Read our EuroXTradeFX review entirely to understand how this scheme operates and just how shameless in their cyber theft they have gotten.

Recent Registration And Several Blacklists

EuroXTradeFX allegedly operates from Saint Vincent and the Grenadines as EuroXTradeFX Limited since February 2023. The local regulator – SVGFSA neither knows of this entity, nor do they supervise brokerage brands in the area. 

The site also claims to be fully incorporated in the UK under the name of EuroXTradeFX Financial Services Pty Ltd. However, this firm is not found in the UK Company House as a properly registered company. Neither had FCA licensed them. 

While combing through the other registers, we found several warnings, which didn’t surprise us in the least after realizing all the talk about regulation was a lie. Influential regulators blacklisting this firm are CNMV, CONSOB, FSC, and FI.

While EuroXTradeFX is collecting blacklists as we speak, let us once again warn you about the dangers of investing here and why your funds aren’t safe. Firstly, the deposits aren’t safeguarded in segregated bank accounts and you will trade under increased risks. 

In case of a company failing, no compensation fund will make up for your loss and the lack of transparency implies involvement of AML rules breach.

EEA Targets Favored

When you check which regulatory authorities have blacklisted EuroXTradeFX, you can quickly come to a conclusion which targets are their favorite. The list of countries with the highest victim ratio is as follows:

• Italy
• Spain
• Germany

EuroXTradeFX advertises some exceptionally lucrative trading conditions and tools, but they fail to deliver these in every way, shape and form. There lies the whole point of a successful scam. Good advertisement and a bunch of boiler room agents to continually call targets, promise them great conditions and then convince them to invest. 

These deals could end only with EuroXTradeFX profiting, not the investors. So beware of such attractive propositions and call us for help if you wish to restore your investment with this broker dealer.

Trading Conditions at EuroXTradeFX

While EuroXTradeFX claims to have ultra competitive pricing with raw spreads from 0.0 and flexible leverage of up to 1:300, we could not easily confirm these statements. 

The spreads being this suspiciously low suggests the illicit broker might not be entirely honest with us. Furthermore, this leverage is ten times higher than what is by law implemented in EEA, where EuroXTradeFX mainly operates. 

Some parts of the site claim the leverage for retail clients sits at 1:30 max, but then they also claim to enable the leverage of 1:400.

Affiliate Programme

This scheme is propagated as a unique opportunity to turn your influence into passive income. The allegedly highly profitable programme gives you a chance to refer new traders to EuroXTradeFX in exchange for commission. 

That could bring you up to $1000 per referral, with an addition of a 10% commission on Sub-Affiliate earnings if you become a Master Affiliate. 

FxOnUs offers bonuses of all sorts, and they’re just as dangerous and prone to scam.

Lies About Trading Tools and Platforms

When no regulatory authority oversees their activities and actions, it is easy for EuroXTradeFX to blatantly lie about the trading conditions and software they provide. It appears that they remain fully anonymous when it comes to making it clear what the prices are of many of their services. The elements of their general trading offer are pathetic and useless to say the least.

No Promised MT5

Providing a premium trading software that rules the Forex markets is one certain way to ensure your customers respect you. Preferred by millions of traders worldwide, MT5 is the epitome of a perfected trading platform that ensures trading success.

EuroXTradeFX only makes claims of providing this terminal, but doesn’t actually have it anywhere in the web form or for downloading. First you’re demanded to open a live trading account, but even after we did as told, no MT5 appeared. 

Personal area revealed a web trader button, but that didn’t work either because credentials we were given were incorrect. The Tradingview widget on the site cannot possibly qualify as a reliable platform either!

Instruments Advertised

We aren’t quite sure how EuroXTradeFX imagined trading would be conducted when they had no functional platform to offer. That didn’t stop them from claiming to provide an array of tradable assets:

• CFDs on Shares (Airbus, HSBC, Pfizer, Kering, Siemens, Tesla)
• Index CFDs (S&P 500, US 100, Dow 30, Nikkei 225, AUS 200)
• CFDs on Energies (Crude Oil, Natural Gas, Crude Oil Futures)
• CFDs on Precious Metals (gold, silver and copper)
• Forex (EUR/USD, USD/PLN, EUR/JPY, USD/GBP)

Account Types

Although we strongly believe opening an EuroXTradeFX account is completely pointless, we have to analyze what they offer in this niche. 

The three standard packages include varying leverage from 1:30 to 1:400, with the lowest spreads starting at 0 pips. Trading commission charged is $3.5 for Elite account and $7 per turn for Pro account. Prices of each individual account are left out, but the homepage claims the lowest deposit to be $250. 

These are the accounts:

• Standard 
• Pro 
• Elite

Inaccessible Demo Account 

Upon registering, you can apparently choose which account you wish to open – live or demo. However, after we completed the registration, we were urged to deposit to be able to do anything at all in the user area. The promise of risk-free trading during a trial period was a complete and utter lie to get targets to sign up!

EuroXTradeFX Academy

The concept of education at EuroXTradeFX is quite well designed. There’s several levels of advancement you can choose to buy, depending on your knowledge and initial Forex expertise. However, all the story revolving around the learning resources remains unconfirmed, as we didn’t want to risk being robbed by buying any of their promised courses. 

EuroXTradeFX Withdrawals

In order to withdraw funds from this site, you have to fill in a form with your essential financial info and submit it. Apparently, the form allows you to request credit cards or bank transfer withdrawals. Here comes the tricky part. 

The payment service provider is the notorious Cardeta, an Israeli facilitator which is known for using fake social networks accounts on Facebook, Twitter, and LinkedIn. This anonymous payment provider is often involved with high risk websites and investment scams. 

Getting in Touch With EuroXTradeFX

Since there’s simply no Contact page for this broker, the only trace of contact info we found is the single email address: [email protected]. However, when we tried to make contact, our attempts ended in failure. Even after hours of wait, no response arrived for our inquiry about the web trader login credentials. 

Our Final Verdict

EuroXTradeFX is a proven offshore scam firm with multiple blacklists. If you’ve deposited a single penny with them, there’s a big chance you will not see it again. That is, if you do not act on time and contact our legal experts team to support your case and recover your funds. Do not be ashamed of being scammed – this happens more often than you know!

Another blacklisted scam to watch out for is FxxTrader.

FAQ Section

What is EuroXTradeFX?

EuroXTradeFX is a confirmed offshore scammer, as several authorities have already blacklisted them for their fraudulent activities.

Is EuroXTradeFX A Scam?

Yes, multiple warnings on this company can confirm that. You can follow the links to them all given in our review. If you need help withdrawing funds from EuroXTradeFX, contact us for legal support.

What Are The Trading Platforms Of EuroXTradeFX?

Although the broker claims to provide MT5, we could not locate it, even after signing up and completing registration.

The InvestQHub broker is a self-proclaimed premier online trading platform that allegedly emerges from the very soul of the UK. What these fraudsters fail to mention is that they have a completely different reputation in that country, considering they’re a FCA blacklisted scam. 

Read more about how convincing these offshore sketchy schemers can seem in our InvestQHub review and learn what you can do to restore funds stolen by such firms.

Another Tax Haven Product

In contrast to what the InvestQHub scam claims about their legal details, the firm is actually registered in an offshore zone, known as a shelter for illicit brokers. As you may have already guessed, we’re talking about SVG, where the local regulatory authority doesn’t license online trading firms.

In a desperate attempt to appear credible, the website claims to be owned by a UK firm, which doesn’t exist. What that business is only known for is a FCA  warning, which was reposted by IOSCO, AFM, and CONSOB. This efficiently debunks all their claims of legitimacy and proves the platform isn’t safe for investing. 

Considering that Ultradx also displays fraudulent behavior and a tendency to misappropriate users’ deposits, we suggest you avoid both.

Pig Butchering Scheme Debunked

The younger of the domains, investqhub.co was created in March 2024. These nations as generating the most traffic to the site:

• United Kingdom
• Bulgaria
• Mexico
• Ireland

The scam agents employed by this so-called company work mostly through dating apps like Tinder or Badoo. They impersonate attractive young people, and seek new marks by faking romantic interest. Affiliate campaigns are also engaged, since fraudster helpers like Bitcoin Prime collect precious contact details of the new potential targets.

Once a victim is hooked, they start pressuring them into investing in a mutual future – by dealing with an unregulated broker. Any invested money in this “relationship” is unfortunately stolen by the fraudsters. There is a way to recover the funds, so contact our experts for help.

Reputation is Not Good

The firm is virtually unknown on the web, but somehow there’s a whole bunch of InvestQHub reviews to be found on TrustPilot. Needless to say, the majority of the testimonials are fakes, posted by review seller networks in order to keep the company reputation afloat.

Still, the clients are speaking their mind. Many of them complain about the known hoax tactics – boiler room agents advising them to trade at a loss, and the firm denying any withdrawals from the platform.

“Gold” Sprads and Other Undefined Terms

As soon as you see a website not disclosing essential trading parameters like costs, commissions and leverage, you know they’re not a genuine portal. Trading with such firms can only lead you into huge losses because the leverage ratio reaches 1:400 or more. 

Premium, golden and other spreads mean nothing and are just empty words when it comes to real costs. Furthermore, legal papers are just as dishonest and secretive about costs. It is just vaguely mentioned that the clients are responsible for covering all of the costs.

Sign Up Mandatory to Preview Tools

Before you can make a single move on this platform, you’ll be asked to register for a new InvestQHub login. Once you’ve become a member, you’ll get access to certain features, but that is not the end of the demands. See the remainder of our review for a detailed insight into what this site offers.

Outdated Web Interface

The central part of the grand scam scheme takes the InvestQHub app, marketed as a distinguished and esteemed trading software. Don’t get your hopes up, however, as this is just a shallow and unreliable web-based terminal. 

Heavily outdated and definitely not honest about the latest prices and market events, this trading portal will not help you earn. Although the site advertises the possibility of upping your game with a mobile app, the download is not enabled. 

Suspicious Asset List

The company offers a good diversity of assets, but this is offset by the poor legality of the venture. For instance, binary options are included, a trading instrument which is banned in many parts of the world.

These the assets we found offered in the trading platform:

• Forex – EUR/USD, AUD/CAD, USD/JPY
• Cryptocurrencies – BTC, ETH, ADA, XRP
• Commodities – Gold, Brent, Wheat
• Indices – Nikkei 225, Dow Jones, S&P 500
• Stocks – Coca Cola, Siemens, Magellan

Investor Profiles With Countless Promises

InvestQHub accounts seem like they offer everything a beginner needs to make money overnight. As every get-rich-quick campaign, this one also tries hard to extort as much money as possible. 

That’s why you will see features like premium support and learning materials, account manager, signals and other options available for huge money. We’re talking about the following sums:

• Starter – $500
• Advanced – $5.000
• Premier – $25.000
• Elite – $100.000
• Master – $150.000

Blatant Disregard For Regulation

Any transactions to and from the platform, including InvestQHub withdrawal and deposit operations, are done exclusively through Bitcoin cryptocurrency transfers.

No FIAT currencies are supported, and neither are any other payment channels beside a Crypto P2P transaction. Transactions are said to take up to 5 days, which is rather long considering everything is done in crypto.

The broker claims that you don’t need to worry about securing your crypto wallet when investing with their platform. With no segregation of funds, clients don’t have full control over their assets. This is the main mechanism through which the fraud is orchestrated, and the reason why swindlers won’t release any funds for withdrawal.

Live Support Isn’t Live

Besides several inactive emails and a suspicious phone number, the site also offers an alleged live chat option. However, to access it you have to share your basic contact information first. After that, you can only leave a message, as you soon find out that the whole idea is more like an online form, rather than a live messenger.

What Can You Do If You Get Scammed Online?

InvestQHub trading scam has been placed on numerous regulatory blacklists. The fraudsters only accept cryptocurrency transactions in order to hide their tracks.

While it is possible to track down and recover stolen cryptos, it is a difficult task. Our professional team, however, has the experience to help you. You may book a free consultation with our representatives at any time using the live chat.

FAQ Section

What is InvestQHub?

It is an online trading scam. The company uses a so-called pig butchering strategy to lure in potential victims.

Is InvestQHub Legit?

No, this broker is a completely unregulated business. If you’ve invested with this company, contact our recovery experts to have your funds reimbursed.

How to Report a Scam Broker?

Collect all of the information you can, and contact your bank or regional financial regulator.

BiterCoin company presents itself as a reputable crypto exchange. However, it’s not registered anywhere. For that reason, we are not surprised that they are hiding their details.

So, if you are looking for a safe place to invest your money, you better read this BiterCoin Review carefully. At least you will know what to avoid. But also, how to recover the money if you take the wrong turn.

Legal info: Is BiterCoin Legit or a Scam?

Biter Coin exchange doesn’t reveal any ownership details in the first place. Neither do they offer addresses or contact info. Basically, they are a completely anonymous company without valid registration anywhere.

Searching for their license would be a waste of time, but we did it anyway. However, none of the Tier 1 regulators have heard of this company. Especially not institutions like FCA, BaFin or ASIC.

Who are BiterCoin Victims?

Since 2023 when the company was registered, they managed to spread their fingers into the pockets worldwide. But also in some strictly regulated countries. Unfortunately, mostly scammed traders come from:

• Malaysia
• United States
• Singapore
• Brazil
• Ireland

Where are you coming from and what’s your experience with this company? Let us know in the comment section if you need assistance in recovering your funds.

Traders Reviews

Another clear scam sign is Biter-Coin.com reviews. Seems like they are not luring traders through ads, but also on WhatsApp. Which is seen on one Reddit comment. Nevertheless, Trustpilot reviews bring the real picture. In fact, 86% of 14 in total, are negative.

In case this exchange scammed you as well, get in touch with our team immediately. There’s still an option to track your crypto and start a recovery process. What other traders think about brokers in general, you can check in our BullishFXMarkets review as well.

Leverage, Commissions, Spreads, Fees and Taxes

Practically, the company doesn’t offer any trading information transparently. On top of that, their website is shut down currently. Anyways, you can see that whatever they present is fictive. That’s the main reason why we always suggest trading with licensed brokers and exchanges.

         Bonuses

More details about bonuses are not currently available. But don’t be surprised if any scam broker approaches you with a special offer just for you. Those often come with malicious policies preventing you from withdrawing any funds. Instead, you can check licensed brokers and one of those you can find in our EasyMarkets Review.

BiterCoin Trading Features

Important to realize is that BiterCoin company didn’t offer a dedicated desktop app. So, the only way to access your portfolio is through the web-based platform. But be aware that such platforms are often manipulated by unregulated brokers.

         Is BiterCoin legit?

No. The company is not licensed and they offer investment services without a license. Not to mention missing ownership and address details.

         Available Trading Assets

BiterCoin is a fake crypto exchange offering most likely the leading cryptos. However, all the cryptos deposited went straight to their pockets. Once they collected enough, they vanished. But don’t be surprised if they rise like a Phoenix under a different name.

         Account Types

In fact, BiterCoin didn’t provide any account type classification. Generally, exchanges offer lower costs if you have bigger deposits. Those are often available on CoinMarketCap. Thus, this company is non-existent and such details remain unknown.

         Mobile Trading App

As mentioned earlier, the company didn’t provide dedicated software. Neither did they offer mobile apps. So, all this combined leads to a very low trust score.

         Demo Account

Mostly, crypto exchanges don’t offer a demo account. It’s quite simple to understand what you are doing. However, insight into the software would be a nice choice. Thus, scam companies don’t offer it.

         Education

It seems that BiterCoin’s goal was only to extort money. But not to help traders learn more about the crypto world. Ultimately, that would work against them if all traders knew the downsides of crypto. For that reason, there are no proper education tools on the BiterCoin platform.

BiterCoin Withdrawal

The BiterCoin scam is not exposed without a reason. The main issue traders are reporting is the withdrawal. Considering the shut-down website we can only assume that their T&Cs were non-transparent. If those existed at all.

Unregulated companies can easily make up reasons to prolong withdrawal requests. Either you deposit more money under pressure or they lock your account in the end. That’s why you should stick to licensed companies.

Customer Support

Another warning sign is the company’s customer service. Like many other scams, they only provided e-mail and live chat. So, plenty of room for avoidance. Currently, they are not available anywhere.

Key Information To Consider About BiterCoin?

Luckily, the company is not active anymore. But you should know how to recognize scam signs to avoid them in the future. Therefore, avoid unregulated brokers with missing ownership details. Also, if the broker doesn’t offer its services and costs transparently there’s something wrong. Not to mention legal documents and transparent withdrawal procedures.

For withdrawal assistance, the best option is to consult with professionals. Our team is available for consultation, your job is just to book it. No worries, the first consultation is free and non-obligatory. At least you’ll find guidance for the next steps. Get in touch today!

FAQ Section

What Is BiterCoin?

BiterCoin is a scam crypto exchange that was established in 2023, but it already disappeared.

Which Trading Pairs Are Supported At BiterCoin?

Currently none. The company vanished with other traders’ money. If that was you, get in touch with our refund team for more advices.

Is BiterCoin Regulated?

No. The company is completely anonymous and if they had any regulation they wouldn’t disappear.

Hiding behind a green, low-carbon agenda lies a ruthless fraudulent business, ready to pounce on the first sign of interest. The website of this self-proclaimed cryptocurrency exchange has very little to offer besides the empty promises of grandeur.

Don’t fall for the trap! See the remainder of our Luxpoll review to learn more about crypto frauds and how to recover assets lost on one.

Unlicensed Exchange

To learn where the firm is allegedly operating from, you’ll need to consult the User Agreement. The document states that in case of any dispute, the legal precedent goes to the jurisdiction of Singapore.

Singapore is considered a developed financial center, and their main financial regulator, MAS, has a reputation for being strict. The trouble is, Luxpoll exchange doesn’t appear in the MAS register of licensed entities. This is a solid proof that the firm is not regulated by this authority, which debunks any of the fraudsters’ claims of legitimacy.

We strongly advise investing with any unregulated exchange. Many of them, including this one and Tokencan, exist solely to steal the invested crypto assets.

Users Share Their Opinions

While there are currently no Luxpoll reviews on popular platforms, the company is not exactly completely unknown with the trading public. Victims of this fraud have posted numerous Reddit articles and forum posts which reveal the site for what it truly is.

If you’re one of thousands that have been swindled by these con artists, the last thing you should do is keep quiet! Contact our legal experts today in order to start a recovery procedure for the money you lost.

How Online Frauds Work

The luxpoll.com domain was created in 2010, but did not host any crypto related business until 2023. Majority of site visitors are from these countries:

• United States
• China
• Brazil

The scheme functions via various dating apps and online chat services. The strategy is known as “pig butchering” in the scam circles, and involves a faked romance where one of the partners is in on the strategy.

They use their charms to introduce a hapless victim into the world of online trading. Slowly, the mark would get dragged into these chat rooms where users discuss alleged unrealistically high profitability by other members. The mark will be urged to invest, only for their money to be stolen by the charlatans.

Service Fees Unrevealed

Anonymous crypto providers usually tend to market their costs and fees as low and affordable. The same practice is detected on this portal, as well. However, such claims have little to do with reality. Just because the Luxpoll spot trading fees are not revealed, doesn’t mean they are not charged.

True costs of services are only seen when it’s already late, unfortunately, and usually when you complete the transaction and want to withdraw cash. It wouldn’t be a surprise to see the leverage, for example, being exaggerated like what the 4xAi con offers.

Poorly Designed Tools Keep Failing

This crypto trading firm has apparently never heard of transparency and fair play. All this company practices is false advertising in order to attract clients, while all of their services seriously disappoint. From faulty software to unreliable registration service, everything seems to be falling apart.

You Can’t Trust This Terminal

Although the Luxpoll crypto web trader seems up to date with the latest market information and price changes, don’t let that fool you. The graph remains inactive and is basically just an image, so it can’t be used until you commit real cash. 

Several columns cover the majority of layout and offer mostly useless information when it comes to educated decision making. The only active buttons are buy and sell.

Mobile App Downloaded From Site

Say you’re trying to download a trading app from a well-known crypto trading platform. Naturally, you can find it in popular app stores like Google and Apple. 

In this case, the only way to download the Luxpoll app is to scan a QR code on the site and download it directly from their own server. This is extremely risky to say the least, so we recommend avoiding such actions.

Spot, Futures and Options Offered

At first, it may seem like the offer of digital assets and pairs is quite rich on this site. Unfortunately, that is not the case. What is certain and apparent from examining the trader is that there’s several groups of pairs to trade:

• USDT/Crypto – BTC/USDT, ETH/USDT, ADA/USDT
• BTC/Crypto – BTC/ETH, BTC/EOS, BTC/TRX
• ETH/Crypto – ETH/MATIC, ETH/ADA, ETH/DRA

Besides these, the exchange has an offer of Luxpoll NFT products sold at 0.5 USDT per unit and with the option to lock the assets for up to 120 days.

Account Creation Blocked

Registration for a Luxpoll login is only allowed to those that own an Invitation Code. This unique numeric combination is only given to handpicked victims, probably previously contacted by boiler room operators. 

Without it, we weren’t able to register for an account. Such a turn of events has altogether prevented us from even accessing the user panel and examining other aspects of the service.

Why Don’t Payouts Work?

Since our chance to examine the client zone ended in failure, we had to rely on the scarce information in legal documents. There, a range of payment methods is listed, including:

• Apple Pay
• Visa and Mastercard
• MoonPay
• Bank transfer
• Crypto – Tether (USDT) , Polygon (MATIC), Dogecoin (DOGE)

As many of the defrauded clients have reported, withdrawals are denied without any reason. Those who have attempted to cash in their profits had to face the fact that all their alleged profits were purely fictitious. Others have struggled with astronomical costs upon withdrawal requests. That’s more than enough reasons to avoid this portal entirely.

No Support for Non-Clients

Assessing the client help desk is only available to those that are already members. New users or potential future clients who are struggling with account creation can’t request assistance from the support office without an account. 

Considering the aforementioned difficulties, we couldn’t determine if there’s any way possible to reach out to customer service.

Cryptos Stolen? We Can Help!

This exchange is a fraudulent business that exists to steal the invested crypto coins. While the situation may seem bleak, there is a way to recover the stolen assets. Book a free consultation with our team via the live chat in order to begin a recovery procedure.

FAQ Section

What is Luxpoll?

It is a bogus crypto exchange that steals the coins from their investors. If you’ve fallen a victim to this scam, contact our experts for help.

Is Luxpoll Exchange Legit?

No, the company is neither registered nor authorized by any regulatory authority.

How Does Luxpoll Lure Victims Into a Scheme?

This con scheme uses the so-called “pig butchering” strategy to defraud victims. It involves a faked romance to lure an unsuspecting mark into a trap.

Our MarketsFly review focuses on revealing the truth behind a deceptive marketing campaign launched by an illicit of the grid brokerage brand. Despite the lack of license, this firm claims to aim to deliver future growth, strategic priorities, fundamentals of future successes and data analytical tools to all their clients. 

At that, premium support around the clock is allegedly there to assist clients with whatever issue they could be facing. The biggest of all issues you’ll encounter here is definitely the lies, withdrawal issues and stolen deposits.

Safety Risks and Security Issues

While their convincing web presentation may lead you to think this is a genuine firm, don’t rush into such conclusions too quickly. The anonymous firm running the website is not mentioned anywhere except in the legal documents. 

Breakline Markets Limited is supposed to be the name of the owning company, yet they do not appear in the FSA register of regulated market participants in Mauritius. Moreover, this brokerage brand doesn’t own any other license, let alone a reputable one issued by FCA, ASIC, BaFin, or CySEC.

With that in mind, we warn our audience to seek a more reliable brokerage that can offer segregated bank accounts, negative balance insurance and compensation plans. Unlike fraudsters like InvestQHub, premium brokers offer proper safety of funds.

How the Con Functions

The con scheme revolves around pressure exerted by so-called perceived scarcity. The website is opaque on purpose, and urges clients to spend before they think so that they won’t miss the “deal of the lifetime”.

Boiler room agents leverage this pressure, as they contact the victims directly and solicit their get rich quick scheme. Contrary to the claims of “years in business”, the marketsfly.com domain was only launched in December 2023.

The swindlers are most active in these nations:

• Spain
• Sweden
• Finland
• Norway
• Denmark

Clients Warn the Public

Many online frauds, like Bitexfy for instance, cover up the truth about their scheme through fake testimonials. Although any MarketsFly reviews shown on the website are positive, the ones on TrustPilot are quite the opposite.

There, nearly all of the comments are critical of the firm, with a total trust score of 2.2 stars. Don’t ignore the warnings – book a consultation with our legal team in order to start a process to recover your stolen money!

No Costs Revealed

Starting from the basic MarketsFly trading parameters like leverage and spreads to other fees and commissions, nothing is known, until you access the user area. There, available leverage is set to 1:100. Spreads are mostly floating while fixed range between 1.4 and 1.1 pips, depending on the account.

Legal papers reveal several hints about clients being the only one in charge of covering all expenses. Furthermore, there’s an inactivity fee of $40 paid monthly. An additional handling fee of $20 is charged monthly and can be changed at any time, without prior notice.

Make-Believe Trading

MarketsFly Forex trading features exist only to maintain an illusion of trading. Many of the advertised features are either unavailable, or oversold to the point of ridicule. The trading environment is incredibly basic, but as you will see, this is done for a reason.

Doctored Trading App

The company flaunts their MarketsFly app like it’s some kind of a hot shot cutting edge software solution. In  reality, however, it’s an incredibly basic web trader which has been manipulated by the swindlers.

The app uses charts that are made to be TradingView lookalikes, but the shown data is quite different. Trading data is constantly edited to forward whichever agenda the swindlers have in mind at the moment. 

The company also advertises a non-existent Android app in order to attract users that prefer trading on a mobile device.

Accounts Options and Types

First of all, the packages advertised on this site are divided into these two general groups:

• Live
• Demo

Except the fact that the Demo account can’t be activated, Live accounts don’t clarify what is the minimum deposit requirement. Retail live trading accounts don’t offer as attractive features as advanced ones do. By that we mean account managers, premium support, investment solutions, etc, available after creating a MarketsFly login. 

Here’s the account names:

• Active Retail Standard Traders
• Professional Traders
• VIP (Special Client Setup)
• Corporate Traders

Confusing Asset Selection

There’s a discrepancy between the assets advertised as available on the website, and the ones that appear in the trading app. Many products with the MarketsFly scam are either misrepresented, or outright missing.

We did gain limited access to the app, which contains these instruments:

• Forex – EUR/USD, AUD/NZD, CHF/GBP, USD/JPY
• Cryptocurrencies – BTC, ETH, ADA, XRP
• Shares – Disney, Toyota, Adidas, Chevron
• Indices – S&P, Nasdaq, Nikkei, Ibex
• Commodities – Brent, Cocoa, Gold

Submitting a Withdrawal Request

Managing your funds is not possible without the involvement of the notorious account managers. These scam agents have to oversee your every transaction so they can attempt to extort more money from you if possible. That’s why you won’t get clear instructions on how to perform a MarketsFly withdrawal or even a deposit. 

This lack of transparency is yet another proof of how unscrupulous this operation is and how deviously deceptive their tactics are. Make sure you don’t invest here, or you’ll most probably be charged advanced fees before you attempt to make a payout.

No Help Desk

The company did not provide any customer support options. If you run into a snag, you’ll have to either trust the boiler room agent that got you into the precarious situation, or send an email which no one will read. Unfortunately, this is common with various con artists, as it helps them cut off the client and disappear with the money.

Invested With a Fake Broker? We Can Help!

The MarketsFly broker is nothing more than a well orchestrated fraud. Anything you see on the site is a carefully made trap designed to empty your pockets.

We understand that it is difficult to resist experienced financial swindlers and their manipulation tactics. There is a way to recover the money they stole from you, though. Book a free consultation with our experts today to learn more about recovery.

FAQ Section

What is MarketsFly?

It is an unregulated offshore group that pretends to be a forex brokerage in order to steal from investors.

Is MarketsFly Legit?

No, the company is not registered or regulated in any jurisdiction. We strongly discourage investing with them.

How to Get Money Back From My MarketsFly Account?

Although the situation may seem hopeless, most of the time recovery is possible. Use the live chat on our site to book a free consultation with our expert team and start a recovery procedure.

The PlutusLegacyTrust broker purports to be a top Forex/CFD provider with the best market conditions. However, this suspicious website is full of risks which isn’t easy to notice at first glance.

It exhibits deceptive practices like SS8FX. That’s why we’re here to expose the scheme and reveal the truth in our PlutusLegacyTrust review. Find out how you can recover lost funds with our professional aid.

Legal Info: Is PlutusLegacyTrust Regulated?

No, this platform is not regulated. There’s no information on the website about the legal background of this business, no documents, policies, phone numbers, etc. The bogus site boldly claims the business is registered in multiple reputable jurisdictions.

All lies, we’re afraid. The truth is that this business is blacklisted in Canada and Europe. Since the beginning of the year, the Alberta Securities Commission (ASC), Ontario Securities Commission (OSC), and Dutch Authority for the Financial Markets (AFM) have all issued warnings against the phony broker. 

Instead of trusting anonymous fraudsters, we recommend choosing regulated firms operating under the supervision of reputable financial market authorities such as the FCA (UK), CFTC (US), ASIC (Australia), IIROC (Canada), MAS (Singapore), etc.

Such companies are subject to stringent regulations and must offer clients negative balance protection, segregation of funds in top-tier banks, and, in some cases, compensation schemes.

Who Are PlutusLegacyTrust’s Targets?

According to WHOIS, the PlutusLegacyTrust website domain was created on November 21, 2023. Since then, the virtual swindlers have mainly been targeting unsuspecting traders and investors from the following jurisdictions: 

• United Kingdom
• United States
• South Africa
• Canada
• Australia

Five distinct jurisdictions, each with their own rigorous financial regulations designed to thwart virtual imposters. The U.S. is especially known for its stringent laws regarding the markets. There’s no room for anonymous websites.

We’ve already outlined PlutusLegacyTrust’s deceptive scheme, which has prompted scrutiny from regulators in the Netherlands and Canada. Like Summitrade, the fraud is on warning lists. 

Trader Reviews – Sharing Experiences

We found several dishonest PlutusLegacyTrust reviews circulating online, but the reliable ones are on reviews.io. Although the company received an average score of 3.8/5 across 60 comments, the verified users all wrote complaints against the platform.

“They can be bossy and want more than you might want to give. Sometimes, they may even block your account and make it hard for you to get your money. Also, their customer service team might not keep their promises, making you feel upset and tricked,”

– one user stated. 

User feedback may be the secret sauce for identifying trustworthy companies and avoiding scams. Before investing, take the time to see what other traders and investors are saying about the platform. Reviews like ours can guide you from potential losses and help you make well-informed decisions.

Which Trading Platform Is Available?

PlutusLegacyTrust claims it offers the xStation 5 platform for desktop and mobile devices, as well as a web version offering Forex pairs, indices, stocks, commodities, and cryptocurrencies. We saw the basic browser-based interface, and it was disappointing. Although it included essential tools like charts and indicators, it fell short of advanced features.

And let’s not forget the broker’s cutthroat background. Traders indicated that the platform is full of malfunctions. Therefore, we recommend avoiding this broker and opting for a licensed provider that supports reliable third-party software like MetaTrader 4, MetaTrader 5, or cTrader.

MT platforms offer a ton of advanced tools, including automated and algorithmic trading, sophisticated charting, multiple timeframes, live market reports, expert advisors, and more. They’re a much better option for serious traders.

Trading Info – Leverage, Spreads, Commissions

PlutusLegacyTrust promises high leverage for Forex trading, but the website does not disclose specific details, a tactic common among illicit brokers. Some sources suggest it goes up to 1:1000. It’s crucial to recognize that high leverage is a double-edged sword.

While it can yield substantial profits if trades go well, it can also lead to significant losses if they don’t. This is why European and North American regulators have set lower leverage caps for retail clients at 1:30 and 1:50, respectively.

Additionally, spreads and commissions are not transparently displayed. The platform shows a spread of 2 pips for the EUR/USD benchmark pair, which is pretty wide and uncompetitive.

Can Traders Use a Free Demo Account?

Faceless tricksters often do not offer demo accounts. The PlutusLegacyTrust login page does not offer such an option. This forces traders to deposit real money to access the platform, giving scammers the opportunity to steal it before users realize what’s happening. 

If you’re new to trading, it’s vital to start with virtual funds. Don’t risk real money immediately. Every reputable broker offers a demo account, so there’s no need to gamble on dubious websites.

Deposit and Withdrawal Process

The shady website failed to disclose the available payment methods for funding a PlutusLegacyTrust account, and the minimum deposit is also unknown. Nevertheless, depositing is relatively easy, but the problems lie in attempting to withdraw funds, per the reviews. 

If you encounter withdrawal issues, it’s often a clear sign that you’ve been caught in a scam. If this happens, exploring ways to recover your money is crucial.

For transactions made with a MasterCard or Visa credit/debit card, you can request a chargeback from your issuing bank within 120 days. To do this, build a strong case and provide substantial evidence. Gather all relevant information and documents.

If you used a wire transfer, you can request a recall through your bank. This only works if the money hasn’t already been transferred to the scammer’s account.

Key Facts To Consider About PlutusLegacyTrust

PlutusLegacyTrust is an utter sham platform designed to rob users. The financial swindlers behind it are targeting unwary traders from the US, UK, Australia, Canada, and South Africa. The platform appears on the AFM, ASC, and OSC’s regulatory warning lists.

We do not recommend trading on such platforms due to their unregulated status. If you are a victim of the PlutusLegacyTrust scam, you must seek our professional help to recover your funds! A chargeback is your best option.

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

Book your free consultation here and start the chargeback process.

FAQ Section

What is PlutusLegacyTrust?

It’s an anonymous website claiming to be a legitimate brokerage firm. In reality, it’s a complete cyber hoax.

Is PlutusLegacyTrust Legit?

No, this shady platform appears on three regulatory warning lists: the AFM, OSC, and ASC.

How to Get Money Back From an Inactive Broker?

You must get a chargeback since you cannot request a PlutusLegacyTrust withdrawal. We can help you throughout the process.

The website of this cryptocurrency fraud is template-bilt, and as such is identical to numerous other sites we’ve already come across. One of its sister sites is Nawelex.com, a now defunct platform that used the exact same design and strategy.

Read more about serial production fraud and how to get your cryptos back from one in our Bitexfy review.

Illegal Crypto Service

The name of any parent firm operating the exchange is Bitexfy Financial Company. It is allegedly regulated by AUSTRAC, which implies that it should be based in Australia.

Of course, this is a blatant lie, as is the claim that any legal proceedings default to the exclusive jurisdiction of the courts of Malta. In this nation, the legal precedent in terms of financial regulation goes to the agency named MFSA. Another register search reveals that the company is not licensed in this nation either.

This is evidence enough that the company is not an authorized entity, and that their cryptocurrency exchange business is a scam. Investing with any unregulated business, be it this or Algo Advise, means you forfeit any fund safeties. Additionally, you’re likely to simply be robbed.

How the Fraud is Orchestrated

As one of the more recent launches, the bitexfy.com domain was created in August 2023, which explains the lack of any Bitexfy reviews. Majority of victims reside in these areas:

• United States
• Georgia
• Turkiye
• France
• Italy

The fraud attracts victims through faux affiliate campaigns like LeapFX, or various intermediaries who post misleading videos on social platforms like TikTok. Videos often feature DeepFakes of celebrities, in this case Elon Musk, who allegedly gives away free Bitcoin to new users of this exchange.

The scheme revolves around an advance fee scam, set in motion when the clients wish to withdraw their “giveaway”. Schemers will first require some deposit to unlock the account, after which they will request an up front payment in order to allegedly release the funds.

These deceivers have managed to steal money from thousands of people. Take action and contact our legal team to start your crypto recovery procedure!

Leveled Fees Structure

Even fraudulent crypto portals like to promote the idea of big discounts on fees that come with greater monthly trading volume. The amount of capital turnover on this site also defines what fees you will be asked to pay. There’s a total of 7 (seven) VIP levels and each higher level brings lower trading costs. 

For example, 1st VIP level features Maker/Taker costs of 0.075% / 0.075%. These get progressively lower until they hit the value of 0.035% / 0.045%.

Referral Rewards are Attractive

Ponzi schemes always target existing clients that can refer their friends, colleagues and loved ones to the firm. For that an alluring reward of 40% of the commission they pay allegedly goes to the client promoting the service. In addition, the trading commission is lowered to 0.1%.

Useless Trading Environment

These crypto schemes do not feature any actual trading. The money only flows one way, and the platform is tailored to further this agenda. Any trading amenities are there just to keep you occupied for longer and wasting more money.

Doctored Trading Application

The Bitexfy app is a web trader, a common piece of software employed by countless cybercriminals. Its complete dependency on a web server makes it easy to manipulate, and charlatans make full use of this fact.

Most of the time, they edit the trading data to make every speculation a loss, regardless of the actual market conditions. The victims are then urged to make further investment, usually playing on their distressed state of mind.

Limited Asset Availability

In order to mimic their legitimate competition, Bitexfy exchange platform offers cryptocurrency based trading instruments. They offer a relatively small number of coins, and no tokens.

Here’s an overview of the advertised assets:

• Crypto to Crypto pairs – BTC/USDT, ETH/USDT, ADA/BTC, DOGE/ETH, SOL/USDT

All of the sister sites advertise NFT assets as “coming soon”, and this one is no different. This seems to be the fraudsters’ late attempt to capitalize on the now waning popularity of this crashed market.

Tiered Account System

Instead of multiple different account types, this exchange offers a single main Bitexfy login account. This can later be shifted to different tiers called “vip levels” by executing certain trading volumes. It is not clarified what purported benefits come from increasing your monthly volume.

The volume requirements are absolutely ridiculous, take a look:

• Vip 1 – < 30 BTC 
• Vip 2 – ≥ 300 BTC / $20,304,270
• Vip 3 – ≥ 900 BTC / $60,912,810)
• Vip 4 – ≥ 2,700 BTC / $182,738,430
• Vip 5 – ≥ 5,000 BTC / $338,404,500
• Vip 6 – ≥ 10,000 BTC / $676,809,000
• Vip 7 – ≥ 20,000 BTC / $1,353,618,000

Shady Payment Processors

Involving suspicious and unlicensed money transferring services is another proof of the platform’s fraudulent intentions. Both deposits and Bitexfy withdrawals are charged with a mandatory fee. Account funding cost 0.00007 BTC and withdrawals 0.00018 BTC. The prices may vary if you choose another currency.

Since all of the transactions can only be processed via crypto, we recommend caution when dealing with portals that support only this form of payment. After all, cyber criminals prefer anonymous crypto transactions in order to conceal their identity and get away from the law. Recovery is still possible, however, so chat us up.

Recover Stolen Assets Today!

Countless crypto investors struggle with withdrawals when trying to take their investment back from illicit online trading firms. You don’t have to be one of many defrauded traders that have lost thousands. 

If you contact our legal experts promptly, you can acquire invaluable advice on how to get back your misappropriated funds. Our recovery team is always at your disposal, so book your free consultation today. Your first interview is entirely free, so contact our chat agents at your convenience.

FAQ Section

What is Bitexfy?

It is a purpose built scam website created using a known fraudulent template.

Is Bitexfy Legit?

No, the company is completely illegal, and is known for predatory conduct towards their investors.

What is CipherTrace?

It is a specialized software that allows tracking blockchain transactions. Contact our experts to learn how we may use it to help you recover stolen cryptos.

Traders first have to understand there are numerous entities involved in TeleTrade Group. The one we are analyzing in this TeleTrade review is TeleTrade D.J. registered in Saint Vincent and the Grenadines.

But also, there are entities registered in Europe, like Teletrade Polska sp. Z.o.o and Top Markets Solutions. Currently, the offshore brand is run on the teletrade.org domain. So, let’s see what to expect from them.

Legal info: Is TeleTrade Legit?

When it comes to the European entity which has a CySEC license, we can’t say they are not legit. However, there was a settlement in 2021 with that regulator for potentially violating regulations and laws. In any case, in the CySEC register, there’s no indication the teletrade.org domain is one of the authorized ones. It appears they are switching to a new brand earn.eu.

If you check the FSA (SVG) register, where teletrade.org is registered, you will see they are operated by Teletrade D.J LLC. Thus, this entity is not regulated by any other top-tier regulator, such as FCA, BaFIN, CySEC, or ASIC. Consequently, those laws and regulations can’t apply to them. And that’s exactly why we can see warnings from Polish KNF and Spanish IOSCO against them.

Who are TeleTrade’s Clients?

Even though the TeleTrade group has been around for more than 25 years, the offshore brand has been registered in 2022. Since then, they have been mainly offering services to traders from: 

• Romania
• Italy
• Lebanon
• Ukraine

To help traders learn more about brokers’ activities, we invite all traders to share their experiences in the comments below. Ultimately, if traders have any potential problems, they can get a free consultation with our refund specialists about the next steps.

Traders Reviews

Generally speaking, TeleTrade reviews are not promising. With only 42 comments on Trustpilot, that certainly doesn’t match the numbers the company presents us with. Apparently, there are more than 10 million customers they have served over the years.

But if that’s the case, there would be much better feedback. In any case, some traders were complaining about the VIP programs the company was offering. So, watch out for small print. If you get into trouble, let us know and we’ll analyze your case and provide you with adequate advice.

Leverage, Commissions, Spreads, Fees and Taxes

Another important detail with TeleTrade broker is the offered leverage. For instance, EU-regulated firms can offer a maximum of up to 1:30. Even with CySEC regulations. However, the offshore entity doesn’t have such limitations and that’s what makes them dangerous. That’s why here traders are offered leverage of up to 1:500.

Overall, trading fees are quite low and that’s what might make the company attractive. Especially with spreads starting from 0.2 pips and commissions for trading execution of 0.008%.

Bonuses

One more thing TeleTrade trading firm uses as an advantage is a welcome bonus. It is accredited automatically upon deposit. But you should be careful of the minimum trading requirement conditions. Otherwise, you won’t be able to withdraw the funds. To learn how to recognize such traps, read our OrbitGTM review.

TeleTrade Trading Features

With TeleTrade MT5 availability, traders can explore all kinds of advanced features, starting with EAs, more than 80 indicators, and fast executions. Also, there’s a Trader Account which involves trading signals under the Synchronous Trading project. Still, without a license, all that is worthless.

Trading Platforms Available

Besides MT5, there’s also a TeleTrade MT4 platform for old-school traders. Even though it has a bit fewer customization options, it’s still a widely popular trading option. At least, traders won’t have to worry about platform manipulation here.

Available Trading Assets

Tradable assets with this firm cover all the most important categories. But to be fair, these can be found with any other top-tier licensed firm. Therefore, security will play a key role in choosing a broker. In any case, the options are: 

• Forex – USD/NZD, EUR/SGD
• CFDs – FTSE100, Netflix, gold
• Cryptos – ETH, DOGE

If you are more into crypto, make sure to check our TheBTCPro review to avoid some typical traps.

Account Types

Important to realize is that regardless of the account type, the recommended deposit is $100. This is except for the Cent Account which requires only a $10 deposit. The conditions for each account type are slightly different and you can choose between: 

• ECN – 1:500 leverage / spreads from 0.2 pips / 0.008% commission
• Invest – No leverage / no additional fees or charges / 0.3$ total commission / spreads from 0 pips
• NDD – 1:500 leverage / spreads from 0.8 pips / 0.007% commission
• Cent – Not disclosed

Mobile Trading App

Generally, a proprietary TeleTrade app doesn’t exist. However, if you use MT4 or MT5, you can download their respective mobile versions as well.  

Demo Account

If you are unsure about the Cent Account as well, you can opt for a demo account with this brokerage. It’s a great way to explore the platform’s possibilities and trading costs. But even that is better to do with tier-1 licensed firms.

Education

Quite surprisingly, the company doesn’t offer any live sessions or webinars as a part of its educational program. If you are an inexperienced trader, this can be a deal breaker.

TeleTrade Withdrawal

To complete the withdrawal, you’ll have to complete the TeleTrade login process and access the client area. Once you request a withdrawal with some of the available methods, you can expect them to be processed within 2 business days. 

Depending on the payment method, traders can expect up to 2.5% withdrawal fees which are fairly reasonable.

Customer Support

As can be seen, this offshore entity can be reached via email, web contact form, and a phone line with a UK number. There’s also a mailing address in the Czech Republic, live chat, WhatsApp, and Telegram channels.

Key Information To Consider About TeleTrade?

One of the key details traders have to remember is that this trading brand is operated offshore. There are also European entities with trusted regulations but still not comparable to FCA-licensed firms for example. 

In any case, if there are any potential issues in your case, feel free to contact us. Once you know what your refund options are, your worries can easily diminish. Therefore, book your free first consultation right away.

FAQ Section

What is TeleTrade?

TeleTrade is a trading firm present in financial markets for more than 25 years with multiple brands registered in Europe but also offshore.

Is TeleTrade Legit?

After the settlement with the CySEC traders might question the company’s legitimacy. In any case, you have to check what entity you work with.

How to Withdraw Profits From My TeleTrade Account?

Even though the company has some regulations, this entity doesn’t. Therefore, if you can’t withdraw funds regularly, reach our refund team for alternative options.