We know the website looks very attractive but the lack of transparency and details was alarming. Therefore, we decided to do the GateBits Review and expose this shady offshore provider that doesn’t even know how to make a proper introduction. Without further ado, let’s make a trip to the Caribbean Sea where our scammer is located.

What is more, we strongly advise you not to invest in Vexxsel, DWS Invest and Dualix fraudulent brokers.

GateBits Has No Regulation?

Of course not. If the vagueness on the website wasn’t enough, we found this little detail in the T&C section that made us see the bigger picture. Namely, GateBits operates from Saint Vincent and the Grenadines (SVG), an infamous scam island located in the Caribbean.

We say that because of the lax rules and favorable tax system established on the island. Furthermore, the local regulator – the Financial Services Authority (FSA), does not regulate the Forex market, i. e. does not issue licenses to brokers. Thus, GateBits is unregulated, it’s as clear as day.

Why It Is Better Not to Choose An Unlicensed Broker

Dealing with offshore providers is extremely risky. Mainly because they essentially operate under no jurisdiction. Hence, they do not impose a leverage restriction, which automatically makes trading with them all the more dangerous. 
Also, they don’t offer fund segregation, negative balance protection, or indemnification, plus they don’t need to possess high operating capital. These are all the demands that licensed European and Australian brokers have to meet. So, we suggest you search for those regulated by top-notch authorities such as the FCA, ASIC, CySEC, BaFin, etc.  

Warnings From Financial Regulators

Speaking of reputable regulators, three of them have issued a warning against GateBits. Most notably, the UK’s Financial Conduct Authority (FCA) claims this broker is a clone of a company authorized to provide services in the UK. 

The other two regulators that have blacklisted GateBits are the Canadian Securities Administrators (CSA) and the British Columbia Securities Commission (BCSC).

GateBits Software – Platform Tools

We were promised a cutting-edge platform with advanced features but got the complete opposite. GateBits offers just a basic WebTrader. This browser-based platform is pretty ineffective per se because it lacks tools such as automated trading and branch optimization.

If you want to know what real trading is, then you have to try out Meta Trader platforms. Also, make sure your broker is regulated to avoid getting a rigged platform. Yes, scammers manipulate platforms all the time; you think you’re trading when it’s all just an illusion.

Mobile Trading

There’s also a mobile trading option. However, mobile versions are generally inferior to their desktop counterparts. In addition, unregulated mobile platforms could be rigged too. While it may be good on the go, we recommend you first master desktop versions. 

GateBits Assets – Trading Instruments

When it comes to trading instruments, GateBits included the bread & butter as well as some more exotic options:

• Forex pairs – EUR/USD, NZD/GBP, AUD/JPY…
• Indices – NIKKEI225, DOW30, FRA40…
• Commodities – wheat, sugar, gold, brent oil…
• Stocks – Apple, BMW, L’Oreal…
• Cryptocurrencies – BTC, XPR, ETH, LTC, USDT… 

But, let’s not get carried away. The choice of instruments may seem abundant but it’s there to lure you. You should always first check the legal status of your broker before getting losing yourself in the asset offer.

Where Do GateBits Engage In Fraud? – Countries Of Service

It’s also important to stress where this fraudster is finding its victims. After a bit of digging, we discovered that GateBits particularly targets unsuspecting traders from the following countries:

• The UK;
• Canada;
• Australia;
• Serbia.

Fortunately, the UK and Canada’s regulators reacted to this threat. We hope those warnings, as well as our review, reach traders in time to prevent fraud.

Also, avoid the trading frauds Profits Vision, ImportCapital, and Robexcoin at all costs! Moreover, before investing, always look into the past of internet trading firms!

What Are The Different GateBits Account Types?

GateBits does offer different account types. Here’s the list:

• Self-managed – 250 $, leverage up to 1:100;
• Basic – 5,000 $, 1:200, includes bonus;
• Gold – 10,000 $, 1:320, includes bonus;
• Platinum – 25,000 $, 1:350, includes bonus;
• Diamond – 50,000 $, 1:400, includes bonus.

Sorry, but these prices are simply too high. We don’t recommend you trust such as shady provider with this kind of money. The rest of the information regarding the accounts is pretty ambiguous. It all seems exaggerated.

Offer Demo Or Trial Accounts?

There’s no free demo account. Nor is there a trial option. We were able to access the trading platform but not trade. Therefore, it’s not by the book. GateBits did leave room for a promo code, though.

Referral Program – Bonus Issuance

Since GateBits is an offshore hoax, it can offer bonuses. These little gizmos are simply a pretext the scammer uses to prevent traders from making withdrawals. 

There’s always a clause in there that says traders have to reach an insanely high trading volume before being eligible to withdraw. What traders don’t realize is they had agreed to this the moment they registered.

Forget about the referral program. It’s a ruse as well. GateBits simply wants you to find its future victims for it. Don’t draw your friends into this scheme.            

How Much Is Leverage, Spreads, and Fees

GateBits says it offers “lucrative spreads”. Why not reveal them then? Leverage caps above legal restrictions. Only offshore phonies can do that. Regulated brokers have to respect the legal limit of 1:30 (UK, Australia, EU) or 1:50 (US, Canada) for retail clients.

As for commissions, we were left in the dark because GateBits decided to be all mysterious and vague. We’d imagine the scammer offers great spreads with high fees. That’s a possible scenario.

What Is The Minimum Deposit and How Do I Withdraw?

We already mentioned our disapproval of the high minimum deposit of 250 $. It’s not worth risking. GateBits also charges a withdrawal fee of 1% with the minimum being 30 $. However, we believe there won’t be any withdrawals. The scammer will simply take the 250 $ and run. As for the payment methods, GateBits accepts the following three:

• Credit or Debit Cards;
• Wire Transfers;
• Bitcoin Payments.

Scammed by GateBits Broker? – Allow Us to Hear Your Story

That’s pretty unfortunate. Tell us more about it, we’re here to listen and help. First, we’ll tell you about how you could get a refund if you’ve been defrauded by GateBits. Depending on the methods of your deposit, there are three ways – a chargeback, a recall, and crypto tracing.

What Is the Chargeback Procedure?

• A chargeback is performed by the issuing bank if requested within 540 days of the transaction. It can reverse credit/debit card transactions.
• If you’ve provided the scammer with copies of your ID card, passport, or driver’s license, you cannot get a chargeback.
• A recall is the same thing for wire transfers. It can only work if the transaction is incomplete.
• Crypto transactions allow the scammer to remain anonymous but they can be traced to their wallet in a crypto exchange. Then, you can request a refund from the exchange.

Here you can book a free consultation and find out what to do for a start.

What Is GateBits?

GateBits is a shady offshore provider based in SVG that allegedly offers Forex, CFD and crypto trading on a web-based platform.

Is GateBits a Scam Broker?

Of course. GateBits is anonymous and unregulated. Plus, it has been blacklisted by the FCA, BCSC & CSA.

Is GateBits Available in the United States or the UK?

Per the scammer’s website, it is available to traders from the UK but not to those from the US. GateBits is blacklisted in the UK.

Does GateBits Offer a Demo Account?

No. There’s no demo or trial account option. Instead, GateBits offers a promo code. You can view the trading platform though.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!

However, if you’re here because you suspect that your investment isn’t in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

Legal Procedures for Recovering Your Money from Scammers Offer a Good Chance of Success. Start by Simply Reporting the Fraud.

File a Complaint

Since there are many offshore brokers on the market, we’ve decided to review a couple of them. Here is what we’ve found in our FinmaxFX review so far.

Regulation and Security

FinmaxFX is a brand owned by Max Capital Limited, a company based in Vanuatu. The broker is operating since 2015 and has many clients. Therefore, we’ve decided to check who the broker is, and you can make any profits with it.

According to its website, the broker is making all the payments via Lithuanian-based company Gatelinas UAB. Whenever we see Lithuania, a red alert pops. Why? Because Lithuania is a country well-known for being home to many scam companies and having many money-laundering accusations.

So far, we can tell be aware of FinmaxFX broker.

What countries does the broker operate in?

As per the broker’s website, there are many restricted areas – the European Union, the USA, Canada, and all the other countries where the law prohibits trading. This leaves us with the question – where does the broker operate?

According to many FinmaxFX reviews by clients, the broker provides financial services in the UK, the US, United Arab Emirates, Australia, New Zealand, Spain.

Wherever you are, be aware that FinmaxFX is an offshore broker and potentially running a scheme.

Warnings From Financial Regulators

Warnings From Financial Regulators – FinmaxFX.com

As an offshore broker, FinmaxFX cannot operate legally within the EU. However, the broker does provide financial services in European countries, so we decided to check if any regulatory body noticed this offshore broker. And yes, Spanish CNMV issued a warning against FinmaxFX, saying that the broker is running a scheme in Spain and other EU countries, and everyone should be aware of that.

Can I make money with FinmaxFX?

Realistically, nobody can make money with offshore brokers. Why? Because there is no guarantee for your funds. Especially, if like in FinmaxFX, the funds are held in a country known for scams.

The broker offers trading with MT5 and web traders. However, when we tried to test it, seems that the MT5 was out of function. This leaves us with a web trader, easy to manipulate and change market prices.

Also, the leverage broker is providing is higher than usual, 1:200. This puts your money at higher risk.

Be aware that this offshore broker might scam you.

Scammed by FinmaxFX?

If you were scammed by FinmaxFX, do not worry. There is a possibility of getting your money back. You need to file a dispute and request a chargeback. In order to make it easier, we are at your disposal 24/7.

Contact our support now and book your free consultations. Let’s get your money back ASAP!

Is FinmaxFX a good broker?

FinmaxFX is a broker that operates from an offshore country and has regulatory warnings. It’s not a good broker.

Is FinmaxFX a Scam?

FinmaxFX is an offshore broker with a CNMV warning against it. It looks like it’s running a scheme in Europe.

Is FinmaxFX regulated?

The broker has an offshore VFSC regulation from Vanuatu.

Are Funds Safe with FinmaxFX?

Since FinmaxFX is an offshore broker with regulatory warnings against it, your money is not safe with it.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!

However, if you’re here because you suspect that your investment isn’t in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

Legal Procedures for Recovering Your Money from Scammers Offer a Good Chance of Success. Start by Simply Reporting the Fraud.

File a Complaint

We have reason to believe that ChaseTrades is not a legitimate broker. There is plenty of evidence to support that claim and we have it all here in our ChaseTrades Review.

The website of this broker is a bit fumbled but we managed to draw out key facts we needed for our review. Please read the entire text to learn more about this dubious trading platform.

Legal Info: Is ChaseTrades Legit or a Scam?

Here is the biggest issue we have with ChaseTrades – there is simply no information about this broker’s regulation, jurisdiction, physical address, etc. in the legal documentation. It seems that the website left us to speculate where is this monkey business based but we found one clue.

Potentially, this brokerage could be based in Saint Vincent and the Grenadines (SVG). This offshore domain is notorious for housing countless scams. SVG does not have any Forex regulations in force, which is why trusting brokers based in this domain is risky. In general, offshore brokers such as One Pro Global are unreliable.

ChaseTrades’ phone number starts with +1, which is the code for the United States. Do not get fooled, this is broker is certainly not licensed to provide services in the US.

We checked the database of SVG’s financial market regulator and did not find ChaseTrades Limited there, meaning that this website is anonymous. The company is not registered with top regulators such as the FCA (UK), CFTC (US), MAS (Singapore), BaFin (Germany), ASIC (Australia), etc.

So if you decide to trade with this broker, you certainly will not benefit from perks such as negative balance protection, segregated funds, safe leverage (1:30 in Europe & Australia or 1:50 in North America), or compensation (i.g. up to 85,000 GBP in the UK).  

Who Is the Targeted Audience?

According to godaddy.com/whois, the ChaseTrades website domain was created on August 2, 2022. Since then, the broker has illegally been operating and offering services mainly to traders from the following countries:

• United States;
• United Kingdom;
• Singapore;
• India;
• Canada.

To reiterate, we checked the registers of the most reputable regulators in the world and did not find this company. The domains from the list boast the heaviest regulations and laws in the world when it comes to the financial market and trading. There is no room there for anonymous websites such as ChaseTrades and Kingston Trading.  

What Do the ChaseTrades Broker Victims Say?

On various forums such as scamwatcher.com, trustedrevie.ws and beermoneyforum.com, we found the same review, i.e. a warning against the broker from an unfortunate trader that got scammed by this unscrupulous platform.

It is a bit lengthy but perfectly explains how the ChaseTrades scam works and why this broker cannot be trusted. Please heed this warning and do not risk your hard-earned funds!

“It looks pretty legit and I have recently moved my money to it and they are not responding . There is guy I approached via telegram thinking he is the real guy on twitter but he is scammer… I put around $10k in 3-4 transactions.. I followed his steps and seeing my balance is growing every day. After that I withdrawal a small amount of money which actually worked… I got convinced that the withdrawal works, I put more money on it… Now I am trying to withdrawal my money and it’s failed and in pending now. I have 8k in one account and 2k in second account… It’s my mistake I trust them and now my objective is to save other people from this scam…”

-Scamwatcher user, March 20, 2023.

Leverage, Commissions, Spreads, Fees & Taxes

Oddly, ChaseTrades recommends traders to set the leverage at 1:50 for Forex major currency pairs. That level is in line with the legally prescribed cap in force in the US and Canada for retail clients. However, in Europe and Australia, the maximum leverage is 1:30.

Scammers typically allow much higher leverage that exceeds even 1:100. As for the spreads and commissions, i.e. trading costs, ChaseTrades decided not to reveal anything. The broker reserves the right to charge fees and commissions but the legal documentation does not mention any specific numbers, which is shady.

Without a risk-free demo account, you cannot try out trading. You would basically be going in blind into this trap, which can be disastrous if you are a novice. There are many legitimate brokers that offer a demo account to starters.

Lost money to the ChaseTrades scam? Do not despair. You can book a consultation with our team and start the fund recovery process.

ChaseTrades Services

In terms of services, ChaseTrades offers a wider variety of options than most anonymous scammers. The website advertises classic Forex and CFD trading, cryptocurrency mining and copy trading.

While these services certainly add to the broker’s portfolio, they cannot amend the fact that this platform is anonymous and unregulated. A trading license always comes first! Do not fall for this seemingly enticing offer.

Crypto Mining 

As mentioned, ChaseTrades offers crypto mining. The website shows that there are two available tokens for mining – Bitcoin and Dogecoin. If you start reading the text the broker posted on these pages, you’ll notice that it is just a simple explanation of what mining is and how it works.

There is no concrete information about what ChaseTrades offers in this aspect and what the trader can expect from the broker. If you ask us, this whole mining option is just a ruse to attract potential victims. If you are among the victims, you can call us for help.

Trading Platform

ChaseTrades does not go into detail about the available trading platform. There is no download link on the website so we assume that the platform is web-based.

If so, it can be accessed via any browser, either on PC or mobile. Web platforms are usually lackluster and do not offer advanced tools such as automated trading or live market reports. ChaseTrades does not support proper third-party trading software such as MT4, MT5, cTrader, or SiriX. 

Which Assets Are Available to Trade?

There are four asset classes available for trading on the ChaseTrades platform:

• Forex currency pairs – EUR/USD, AUD/CAD, GBP/JPY;
• Indices – S&P 500, FTSE 100…
• Stocks – Apple, Tesla, Adobe…
• Crypto – BTC, ETH, ADA…

How to Make a Withdrawal on ChaseTrades?

By now, you have realized that ChaseTrades is not a transparent broker and often omits key information about its business. The payment policy section is no different in that regard. All we know is that the broker accepts payments via two funding methods:

• Credit/debit cards;
• Wire transfers.

The minimum deposit is 999,99 $, which is a lot more than what legit brokers charge beginners. As we already pointed out earlier, the deposit and withdrawal fees are unknown but they do exist.

The good thing about these funding methods is that they can be reserved. The process of reversing credit/debit card transactions is known as a chargeback, which can be requested at the issuing bank within 540 days. Wires require a recall but this will only work if the transaction has not gone through yet.

Our Conclusion on the ChaseTrades Fraud

To sum up, ChaseTrades is an anonymous website without a trading license. Active since August 2022, this scammer mainly targets traders from the US, UK, Canada, India, and Singapore.

Stay away from this broker at all costs, the platform is not worth your hard-earned money. But if fell into this cutthroat trap, you can try to request a chargeback and retrieve your funds. Unfamiliar with this process? Do not worry, our team knows all about it and they will gladly guide you through the process and explain all the steps.

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

FAQ

What Does ChaseTrades Do?

ChaseTrades poses as a legit trading platform but the true intention of this entity is to scam unsuspecting traders.

Is Chase Trades Regulated?

No, Chase Trades is not regulated by any financial market authority. Stay away from this anonymous website.

Can I Delete My Chase Trades Account?

Whether you can or not is not important. The problem is that the broker blocks you from withdrawing your funds.

ChaseTrades Scammed Me. What Should I Do?

You should request a chargeback. If you are unsure how to do it, book a consultation with our team and they will show you.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!

However, if you’re here because you suspect that your investment isn’t in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

Legal Procedures for Recovering Your Money from Scammers Offer a Good Chance of Success. Start by Simply Reporting the Fraud.

File a Complaint

FoxNewsTrade is a SVG based brokerage without any kind of license. The friendly and inviting website sure makes you feel at home. But the reason the scammer behind it wants you to get comfortable is dreadful. 

The owning company – Canoodle Solutions Ltd is blacklisted in the EU already. Let us inform you the domain is less than 3 months old and already has warnings on their illicit actions. That’s the precise reason that has led us to put together this FoxNewsTrade review, so read on.

Is FoxNewsTrade a Scam Broker?

FoxNewsTrade is, first of all, unlicensed. How do we know this? The reasons are many. Our first source of information are the warnings published against their parent company. The particularities of these alerts will be presented to you in the next section of this review. 

Firstly, we are pointing out the fact that SVGFSA doesn’t regulate and supervise brokers in this country. So FoxNewsTrade runs their business under no oversight and is, therefore, free to display any kind of behaviors that would bring them profit. 

Because the domestic regulator didn’t issue them a license, FoxNewsTrade would have to apply for another. Preferably by a Tier 1 regulator. That’s why our next move was to check the databases of the leading regulators. By these we mean FCA, BaFin, CySEC, FINMA and CONSOB. The only information that came back are the ones about blacklisting. 

This immediately raises a red flag against this broker, as it means the firm is missing the crucial regulatory implementations. These are, of course, segregated bank accounts, transparency, negative balance insurance, and leverage restriction. 

In the EEA, bonuses are banned. However, we see FoxNewsTrade proudly offering the deposit bonus to all newcomers. Their leverage is also not capped at 1:30, like in the  heavily regulated EU states. FoxNewsTrade website advertises a 1:888 leverage. So please pay close attention to the discrepancies and do not allow the attractive promise to cloud your judgment. 

Warnings Issued by Financial Authorities 

It’s not at all admirable how FoxNewsTrade managed to get on so many blacklists after not whole 3 months of operating. That only proves something to be horribly wrong with this brokerage. If you aren’t taking our word for it, then consider these warnings. They all point out at FoxNewsTrade being unlicensed yet still selling financial services. These are the publications on FoxNewsTrade:

• FMA

• CNMV

• AFM

• CONSOB

• FSMA

FoxNewsTrade Platforms – A Software Comparison

We’d like to start by mentioning the high hopes we had for this fancy and comprehensive website. The moment we saw the MT5 ad, we thought to check it. Our disappointment was instant. The page leading to the download source doesn’t exist at all. We only got the 404 error. 

Then we saw a Web trader was available through the client panel. As soon as we registered an account we proceeded to the trading zone. The sloppy and quite poorly designed terminal didn’t correspond with the meticulousness and richness of the website. The missing features and options of advanced platforms don’t make FoxNewsTrade an attractive place for trading. It just looks all too common and reminds us of another fraud –  Stam Capital Invest.    

What Financial Instruments Does The Platform Include?

The offer of financial products available isn’t excessive. Some traders may have taste in more exotic tradable assets and they won’t find them at FoxNewsTrade. The broker lists several instrument groups available for buying and selling:

• Forex (EUR/USD, USD/GBP, CHF/JPY, CAD/NZD)
• Commodities (Silver, Gold, Crude Oil, Copper)
• Crypto (ADA, XLM, XRP, DOGE, BTC)
• Indices (DE30, HK50, ESP35, IT40, SWI20)
• Shares (Disney, Boeing, BMW, Barclays, Tesla)

FoxNewsTrade – Countries The Victims Come From

FoxNewsTrade has an obvious preference for European victims. Their scam of an owner has been present in the area through several domains already. And getting blacklisted doesn’t look like it is stopping them for further activities. It seems the best and most lucrative environment for this fraudulent scheme to bloom are the following countries:

• Czech Republic
• Austria
• Spain
• Germany
• Poland

Account Options Offered by FoxNewsTrade

Account types at FoxNewsTrade have prices and names quite common for cyber thieves of this type. They’re all either silver, gold, platinum or starter, pro and elite. The final product is always the same. 

The actual described features are never really an option. But you pay a substantial price for the promise you’ve gotten upon joining. Just so it doesn’t look like we’re making stuff up, take a look at another scammer – GC Option and their offer of accounts. 

FoxNewsTrade has the following packages available: 

• Easy Start – $250
• Standard – $3 000
• Trader – $10 000
• Pro Trader – $25 000
• Premium – $50 000
• VIP – $250 000

Can a Trader Use a Demo Account?

As obvious, we were allowed to register an account. However, during the sign-up process, we didn’t get to choose which account we were opening. Right after getting into the trader’s lounge, we were asked to deposit. At that point, it was crystal clear FoxNewsTrade expects the traders to immediately give them cash. Only real money gets you a passage to the site parts and price speculating. 

Terms of Service for FoxNewsTrade 

The importance of this document lies in its information giving. For example, FoxNewsTrade isn’t clear on the fees they’re charging. But Terms and Service declare the company to have the right to change these elements on their own accord and without previously notifying the customer. 

In the end, the user’s account balance is the source from which the company will feely take funds to cover the fees. Such access to manipulating the clients’ capital is strictly prohibited, yet FoxNewsTrade does it. These and many other concerning details are all revealed in this document. That’s why we keep stressing the importance of reading these texts before agreeing to them.

Leverage, Spreads and Fees

The leverage is known to be a trading parameter that could affect the trading risks and final money gain or loss. When the leverage is higher, the exposure to losing is bigger too. With FoxNewsTrade, the leverage skyrockets to ridiculous 1:888, as the site quotes. 

Spreads aren’t clearly defined. Every account type supposedly includes fixed and floating spreads, but which exactly, FoxNewsTrade does not show. The webtrader, however, displays a floating spread starting at 0.2 on EUR/USD. This is beyond unrealistic. Website also states to charge trading commissions, so this spread isn’t the only price you pay. 

Withdrawing Profits From Your Broker Account

FoxNewsTrade withdrawals are more complex than performing a 12-hour-surgery. First you have to fill in the withdrawal form, then print and sign it, then scan and send it back. Then you have to wait for the processing time to finish, only to find out the firm is not satisfied with all the docs sent. 

Based on that, the broker could afterwards ask you to send in more data, like a copy of your ID and Passport, as well as your bank info and credit card pictures! But wait, that is not all. If you haven’t met the payout conditions like trading volume requirement and paying fees, your withdrawal will be additionally prolonged until completely denied!

What can I do if I was scammed by FoxNewsTrade?

No need to despair and feel lonely in your misfortune. Victims of FoxNewsTrade are many and they include honest retail traders such as yourself. So if you feel like you need guidance in dealing with this or any other scam, do contact us. 

Our agents are tirelessly working on gathering evidence to bring down unscrupulous brokers and alert the authorities. You can help too. Distribute your evidence and info on this scam, and we will guide you on how to restore what was taken from you.

What Is FoxNewsTrade?

FoxNewsTrade is a multiple times blacklisted broker with residence in Saint Vincent and the Grenadines. Their owning company is also considered to be a scam project and several authorities have issued alerts. 

Is FoxNewsTrade a Regulated Broker?

No, this firm doesn’t possess any valid license that would make them a regulated and well-formed brokerage. 

Does FoxNewsTrade Have a Referral Program?

Right now while writing this review, we didn’t find any information on the site about special promotions and referrals. However, FoxNewsTrade constantly offers deposit bonuses and claims to have recurring promotions.

Does FoxNewsTrade Offer a Demo Account?

Demo account doesn’t exist as an option with this broker dealer. Only by investing real money is how they will allow you to use their platform.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!

However, if you’re here because you suspect that your investment isn’t in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

Legal Procedures for Recovering Your Money from Scammers Offer a Good Chance of Success. Start by Simply Reporting the Fraud.

File a Complaint

As can be seen, RoyalStern company claims to be registered in two places. Firstly, they mention the United Kingdom under the Wiz Corporation. The second country where they have an address is Switzerland.

Generally, this sounds quite promising to inexperienced traders. But let’s look deeper into these details and discover in this RoyalStern review if we can trust this firm or not.

Legal Info: Is RoyalStern Legit Or A Scam?

When you see a company claiming to be registered in the UK, everything is easier. You just have to check the FCA database and see if they are legit. In fact, RoyalStern company is not. Neither are they listed in the FINMA (Switzerland) register. Also, the company claims to have been in the business since 2005. Yet, who.is research shows their domain was registered in September 2023.

Not only that, they don’t even have any other Tier 1 regulations like CFTC, ASIC, or BaFin. Therefore, all their statements become highly suspicious. Moreover, traders can’t expect any funds protection measures, such as compensation schemes, segregated bank accounts, or negative balance protection.

Who Are RoyalStern’s Clients?

Even though the RoyalStern reviews don’t exist, we can see some patterns already. In the first place, the name of the company points out they intend to target German speakers. In fact, their website is primarily designed in German.

The research also confirms that since website visitors (victims) mainly come from: 

• Germany
• Lithuania

This could tell you as well where they are originally from. In any case, without transparent legal information, it’s hard to prove their origins. If you are having issues with this brokerage, feel free to share it with us. Ultimately, our refund team can advise you about getting your money back.

Leverage, Commissions, Spreads, Fees and Taxes

Another important scam sign is the leverage this company is offering. For some accounts, it goes up to 1:300. Bear in mind that UK firms can offer only 1:30 leverage to retail traders. The situation is the same with FINMA-regulated companies.

As for the other trading costs, none of those are revealed. That’s exactly one of the ways the RoyalStern scam is performed. Anyway, the only thing known about fees is that you get a discount if you deposit more money. Thus, a discount doesn’t matter if you can’t withdraw any funds.

Bonuses

In general, bonuses are not transparently presented with the RoyalStern broker. But without transparent T&Cs, you will never know if they offer some.

Keep in mind bonuses often prevent traders from withdrawing any funds. To understand how to avoid these and some other tricks, check our SmartyTrade review as well.

RoyalStern Trading Features

Traders must understand that RoyalStern broker offers only fictive features. Everything is designed just to extort more money from clients. For instance, they will offer you huge fee discounts, personal assistants, trading specialists, social trading, and much more.

However, the only thing true there is the fake trading specialists who are doing anything in their power to get more money from you.

Trading Software Available

In addition to all of the irregularities mentioned, the company doesn’t reveal what software they are using. That’s already a sign to run away from them. 

Generally, we often recommend traders look for cTrader or MetaTrader. But of course, with a licensed firm. Otherwise, such platforms become useless.

Available Trading Assets

Even if the company offers all the possible assets, it’s irrelevant if they are not regulated. Bear that in mind. In any case, this brokerage claims to offer: 

• Forex – GBP/EUR, AUD/NZD, USD/JPY
• Commodities – Cotton, crude oil, palladium
• Shares – Walt Disney, American Express, Amazon
• Cryptos – BTC, ETH, DOT
• Indices – S&P 500, ASX 200, CAC 40

Account Types

With an insanely high minimum deposit requirement of $1.000, you can already see a reason not to trust them. Especially knowing that some Tier 1 licensed brokers require only $10 to get started. Anyway, the options are: 

• Bronze – $1.000
• Silver – $25.000
• Gold – $50.000
• Platinum – $100.000
• Diamond – $250.000
• Premium – $500.000
• VIP – $1.000.000

Mobile Trading App

Can you imagine that the company requiring traders to deposit $1M doesn’t have a mobile app? Yes, that’s the reality with RoyalStern scam brokerage.

All iOS and Android users have to access their accounts through the browser. Luckily, our Vault Markets review can show you the importance of trusted mobile trading apps.

Demo Account

Another key disadvantage is the lack of a demo account. But in general, that doesn’t surprise us since they are hiding so many things. After all, we already understand they want to be anonymous and protected.

Education

Generally, education with unregulated firms can only harm you. Very rarely will you see something useful and reliable with such companies.

To make everything even worse, this company only offers blog posts and general articles about trading. Apparently, some webinars are included in some account types. Yet, we wouldn’t trust it much.

RoyalStern Withdrawal

One of the most disturbing things with this company is how to get your money out. Without T&Cs, you can’t find any withdrawal policy. Neither do they mention what the payment methods are.

Therefore, you can expect the promotion of anonymous and irreversible crypto payments. Thus, if you don’t know the withdrawal procedure, fees, and methods, you shouldn’t deposit at all.

Customer Support

With everything mentioned above in this RoyalStern review, their poor contact options are a cherry on top. Instead of trusted features like phone, live chat, or Skype, they only have a web contact form. Of course, without any working hours revealed.

So, if you are looking for answers regarding withdrawals, you can forget about reply.

Key Information To Consider About RoyalStern?

Literally, there’s not even a single thing that should attract anyone to this scam broker. Hopefully, our RoyalStern review helps you realize that. Firstly, they are misleading traders about the registration country and registration date. Secondly, they are not regulated by any trusted authority. Lastly and most importantly, all of their features are highly suspicious.

Therefore, if you experience any issues, contact your domestic regulator immediately. Let them publish a warning and stop these swindlers in their malicious actions. But for refund options, we suggest you talk to our chargeback specialists. The first meeting is free, and you don’t have any obligations. So, what to wait? Get in touch now.

FAQ Section

What is RoyalStern?

RoyalStern is an unregulated scam brokerage offering FX and CFD trading services since September 2023.

Where is RoyalStern Mainly Active?

Based on the web design you can assume they are targeting German speakers. But research shows that besides Germany, they are also targeting Lithuania.

Can I Recover Money Stolen in an Online Trading Scam?

Definitely. You can apply for a chargeback for card transfers or use alternative methods for other payment options. For detailed advice, contact our refund team.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!

However, if you’re here because you suspect that your investment isn’t in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

Legal Procedures for Recovering Your Money from Scammers Offer a Good Chance of Success. Start by Simply Reporting the Fraud.

File a Complaint

OneFXGroup alleges to be a renowned European Forex & CFD brokerage firm with favorable trading conditions and a strong client base. However, we investigated the website and found numerous irregularities regarding the broker’s legal background.

After doing some more digging, we discovered that the platform is anything but transparent. Hence, we urge you to read our OneFXGroup Review and learn more about this sophisticated hoax designed to scam unsuspecting traders.

Legal Info: Is OneFXGroup Regulated?

The website did not reveal any relevant information about the firm’s legal background except for mentioning that the business was allegedly founded in Ireland. We looked up the broker in the register of the Irish Central Bank but got no results. The OneFXGroup regulation issue is indicative of a trading scam. 

As further evidence, we found two warnings issued against the platform on November 1 and 30 by the British Columbia Securities Commission (BCSC) and the Manitoba Securities Commission (MSC), respectively. 

These alerts are clear signs that the broker is up to no good. To put the final nail in the coffin, Italy’s CONSOB also blacklisted the OneFXGroup broker! In short, this means the provider is not authorized to operate across the European Economic Area (EEA).

We do not recommend you trust unregulated platforms because they are not liable to financially compensate you in case something goes wrong.

Instead of trusting unlicensed phonies, you should stick to regulated providers operating under the watchful eyes of renowned financial authorities such as the FCA (UK), CFTC & NFA (US), ASIC (Australia), IIROC (Canada), BaFin (Germany), JFSA (Japan), MAS (Singapore), etc.

Who Are OneFXGroup’s Targets?

According to godaddy.com/whois, the onefxgroup.com website domain was created on September 12, 2023. For about two months now, the financial swindler has mainly been targeting unsuspecting traders who reside in the following countries:

• United Kingdom;
• Canada;
• Switzerland;
• Singapore;
• Australia.

All these countries have heavily regulated markets and laws in force to prevent unauthorized imposters from defrauding local traders. One common law stipulates that each financial market participant must possess a necessary license or permit.

Like TradeSafer, the illicit OneFXGroup trading brand has no approval to operate. The broker directly violates Irish, i.e. European regulations by offering users leverage higher than allowed for retail clients (1:30). 

Trader Reviews – Sharing Experiences

Checking the feedback OneFXGroup received from traders on popular forums, we noticed that it was mostly positive with many five-star reviews. However, the honesty of these reviews is questionable.

As mentioned, the platform has been active since mid-September while the first comments started appearing in October, which is quite a short period for satisfactory results.

There are also complaints. “I invested 2600 usd in this trading platform and as soon as i wanted to withdraw my money they disappeared and nobody answers the phone to me…” one trader said, claiming the platform stole his funds.

We recommend you read what users said on sitejabber.com to learn which methods the broker uses to fool traders and how the scheme works. 

Which Trading Platform Is Available?

The website advertises MT5 but there is no download link anywhere. The FAQ section, however, suggests that the OneFXGroup platform is a simple web trading terminal that supports popular trading instruments such as Forex currency pairs, indices, commodities, stocks, and cryptocurrencies.

Since there is no demo account, we cannot check out the platform and give our assessment of it. Generally, web platforms are lackluster and ineffective, offering no sophisticated tools whatsoever.

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

MT platforms are arguably the best in the industry, enabling traders to utilize cutting-edge tools such as automated & algorithmic trading, advanced charting, live market reports, API integration, 20+ timeframes, EAs, lightning-fast order execution, etc.

Available Live Account Types

Leverage, Spreads, Commissions, Demo Account

The maximum leverage that OneFXGroup offers is capped at 1:400, which, as we mentioned, is significantly higher than the legal limit for retail clients in Europe & Australia (1:30) and North America (1:50).  

High-leverage trading is a double-edged sword. While it can amplify potential profits, it may also lead to unbearable losses, making margin trading pretty risky. Fraudsters such as CTE CAP are known for exposing users to such risks. 

As for the trading costs, i.e. spreads and commissions, the broker did not disclose any specific values or numbers, which raises concern. Spreads were outlined in percentages rather than pips.

Another big red flag is that there is no demo account. If you are a beginner, you should not be risking real money without practicing first. Every legitimate broker nowadays offers a free demo account so be sure to choose the right provider.

Deposit and Withdrawal Process

The broker’s website listed three available payment methods that can be used to fund live trading accounts:

• Credit/debit cards (MasterCard, VISA);
• Wire transfers;
• E-wallets.

The minimum deposit is 250 USD but given the provider’s shady background, you are unlikely to be allowed to withdraw your money.

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.

Key Facts To Consider About OneFXGroup

To summarize, OneFXGroup is a virtually anonymous fraudster mainly targeting traders from the UK, Singapore, Australia, Canada, and Switzerland. The broker has been blacklisted by two Canadian regulators and Italy’s CONSOB.

We do not recommend the platform because it is unregulated and not transparent at all. In case you’ve lost money to the OneFXGroup 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 free consultation here and start the chargeback process.

FAQ Section

What is OneFXGroup?

OneFXGroup is a cunning trading scam centered around fake reviews on popular forums and a rigged online platform.

Is OneFXGroup Legit?

No, the broker isn’t legit. The shady platform is actually blacklisted by two Canadian and one European regulator.

How to Withdraw Money From My OneFXGroup Account?

You’ll need to request a chargeback. We can help you recover your funds but you must not waste time!

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!

However, if you’re here because you suspect that your investment isn’t in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

Legal Procedures for Recovering Your Money from Scammers Offer a Good Chance of Success. Start by Simply Reporting the Fraud.

File a Complaint

Traderfex is an unknown and very poor forex “trading” platform operating from St. Vincent and Grenadines. That’s why in this guide we give some facts and reasons why you shouldn’t invest with this company and how to keep your money safe.

Traderfex Regulations and Security

If you just look at their poorly designed website, you should already know there is something wrong. 

Yes, the primary business is, as per their saying, to make money, but they should take care of their website. The first impression lasts. You see a site where you don’t have any information about the company, team members, regulators, license number, or anything else that would make you think that these are good guys. 

Since they don’t have headquarters, they don’t go under any jurisdiction. Red flags all over.

Fund Withdrawal Issues

Practically impossible. As per the broker, you can withdraw 500 Units of gained profits through bank wire transfer. Yeah, right. But right after that, they claim that they can delay or, even worse, reject withdrawal without any explanation. Just ask yourself, is that your money or theirs? With a regulated broker, you can withdraw your funds within 24 hours, without questions asked. Here, the procedure can take up to 14 business days. We believe that it’s not that hard to make a few clicks to send money if you want it, of course.

Traders Opinion

Traders’ experience is that wherever you see catchy advertisements like CryptoEngine that will make money for you, you should run away from it. According to many Traderfex reviews, this company has good marketing and nothing else. If you planned to get your money back, it wouldn’t work.

How Does Online Trading Scam Work?

It usually starts with a hot advertisement, cold call, or fake social media post. Once you accept to play their game and just listen, they will manipulate you. After you put your first money, usually $250, that’s where their game begins.

They will show you a couple of winning trades to get your trust, to show you what they can do, but in the end, it’s all a basic setup. They will sell you some logical stories that might have sense in real life, but that won’t happen that fast.

When you feel first to win, you will crave more, especially after introducing fake potential profits. If you try to withdraw money, you will face a new urgency for investment, a new great opportunity, a life-changing one. If you fall for it, you will lose every time. They will try to take everything away from you, the last penny from savings if needed.

If you are persistent in your decision, it can happen that they will tell you that you need to pay something to withdraw your funds; after that, you can forget about reaching them ever again. They will just cut all communication with you or even move to another website doing the same thing.

Scammed by Traderfex?

If you get scammed by a Traderfex broker, you should first report it to authorities and ask for help from your bank to get a chargeback. Try to ask for advice, but don’t rush to jump into “Recover your funds” deals and to get double scammed!

But What Is a Chargeback?

Chargeback or payment dispute is a usually complicated and time-consuming process, where a client (cardholder) questions a transaction and asks a card-issuing bank to reverse it. For further details and assistance, contact our support via online chat and book your free consultation.

What is Traderfex?

Traderfex is an online trading brokerage without a license for financial services.

Is Traderfex a scam?

The broker is unregulated and didn’t provide any of the information regarding the owner.

Is Traderfex regulated?

Traderfex is not regulated nor a licensed online brokerage.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!

However, if you’re here because you suspect that your investment isn’t in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

Legal Procedures for Recovering Your Money from Scammers Offer a Good Chance of Success. Start by Simply Reporting the Fraud.

File a Complaint

While promising success, innovative trading technology, and a myriad of trading assets, SwissMarketFX forgot just one thing – to mention the regulation. Yet, we are here to expose all the details and let you know what to do if you have been a fraud victim. Read our SwissMarketFX review for further details.

SwissMarketFX Regulations and Security

SwissMarketFX is a brand of Tikmedia LLC from Saint Vincent and the Grenadines. While its name might mislead you to believe you’re dealing with a legit Swiss company, the reality is much different. In fact, SVG has no financial regulator, meaning that SwissMarketFX is unregulated by default. We searched through the FCA, ASIC, BaFin, and several more Tier1 registers to make sure this company was not there, and as expected, found nothing.

Beware of SwissMarketFX scam and similar bogus brokers who will mislead you in many ways just to extort your money.

Fund Withdrawal Issues With SwissMarketFX

When deciding whether you should trust the brokerage or not, the main thing to look for is the regulation. Tier1 regulators make sure that each company has a compensation fund used to reimburse clients in case of any withdrawal issues. Since that’s not the case with SwissMarketFX, we have lots of complaints and no solutions.

According to SwissMarketFX reviews, this company is not letting clients withdraw their funds and going even a step further. Once someone submits a withdrawal request, the broker suspends their account and makes sure they will never get the money back.

If you experience something similar, let us know. We need to file a dispute and request a chargeback.

So, please avoid SwissMarketFX forex broker and similar scam brokers such as LiteGap, MyBitChain and Platin Markets.

Traders About SwissMarketFX Scam

Besides withdrawals, traders have their mouths full of SwissMarketFX bad trading conditions, too high leverage, inadequate web trader, and more. Instead of providing a trustworthy platform such as MT4, this company offers a TradingView chart with several indicators, calling it a web trader. However, once you try to use tools such as Take Profit and Stop Loss, you will understand what kind of a platform you’ve been given. Since your trades will remain open, you will virtually every time end up in a loss.

How To Know If You Have Been Scammed Online?

As we already discussed, withdrawal issues with SwissMarketFX broker are sure scam signs. Besides, if you have issues using a web trader and your account manager refuses to assist you or experience any other technical/login issues, it might be a fraud. You should report it immediately and make sure not to lose your money. After all, nobody starts trading to end up losing. To ensure everything will be safe, make sure to check your broker before investing any money. If, despite everything, you fall victim, let us know, and we will guide you on how to get your money back.

Scammed by SwissMarketFX?

If you were scammed by SwissMarketFX, let us know. Our chargeback specialists will help you collect the evidence, file a dispute, and request your funds back.

But What Is A Chargeback?

It’s a way for your bank to reverse the transaction and get your money from the merchant. For further information, contact us via online chat and book a free consultation. Don’t let scammers run with your hard-earned money, let’s fight back

What is SwissMarketFX?

In simple terms, this is an online trading brokerage without financial regulation.

Is SwissMarketFX a scam broker?

Yes, SwissMarketFX is based offshore and has no regulation for providing financial services.

Is SwissMarketFX regulated?

No, SwissMarketFX is not regulated and provides financial services illegally. Don’t fall for this scam broker!

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!

However, if you’re here because you suspect that your investment isn’t in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

Legal Procedures for Recovering Your Money from Scammers Offer a Good Chance of Success. Start by Simply Reporting the Fraud.

File a Complaint

Allow us to tell you something about this fraudster. The broker you know as Wilton Option is nothing but an outrageous scammer. Yup, we intend to prove that in the Wilton Option Review. So, let’s proceed to analyze what’s on the table in terms of a license, platform and trading.

Also, avoid the trading frauds Axe Market, BE22, and Honest Capital at all costs! Moreover, before investing, always look into the past of internet trading firms!

Wilton Option Is Scam Platform? – The Truth About Regulation

Right off the bat, we were on alert because Wilton Option didn’t mention its owner. Moreover, the dubious broker claims to operate out of Zurich, Switzerland. Kudos to you, Wilton Options, but are you sure you can get past the local financial market watchdog?

If you know anything about the Swiss Financial Market Supervisory Authority (FINMA), you know it’s one hell of a strict regulator that’s very meticulous when it comes to trading. Wilton Option did find its place in the database of FINMA, but on the wrong end of it, i. e. on the blacklist.

Wilton Option is a deceitful scam broker that claims to be based in Zurich. It offers Forex, CFD and crypto trading to unsuspecting traders from Belgium, Sweden, Ireland, Lithuania, Latvia and the Netherlands.

Why It Is Better Not to Choose An Unlicensed Broker

Wilton Option is unlicensed as they get. Trading with this broker is in vain. You’re missing out on all the benefits that regulated European brokers provide.

These include negative balance protection, transaction reporting, a compensation scheme worth 20,000 EUR, segregated funds and leverage restriction (1:30). In addition, the broker has to have a minimum operating capital of 730,000 EUR.

Warning From FINMA

To touch on one of the previous claims, the Swiss regulator – FINMA, has issued an unambiguous warning against Wilton Option. Therefore, the danger of trusting this provider just reached new heights. We strongly advise you to read the warning and ditch the broker once and for all.

Wilton Option Software – How Safe Is The Platform?

With this kind of marketing, it’s no wonder scammers such as Wilton Option manage to stick around. The unscrupulous broker sure did put in the effort to promote its simple and elementary platform – WebTrader.

Bear in mind that this browser-based platform has some basic charts and indicators but lacks advanced tools such as live market reports and algorithmic trading. Plus, since the broker is unregulated and anonymous, you cannot be sure where your money is going.   

Desktop & Mobile Trading Platforms

The fraudster offers both desktop and mobile versions of its platform. It’s fake. The only available option is the online platform. This is yet another one of Wilton Option’s dirty tricks to lure in victims.

AnyDesk, TeamViewer and Aeroadmin

If you’ve noticed these apps on the website, you’re probably wondering why Wilton put them there. Well, these apps allow one user to access the PC of another. 

So, if you allow the fraudster to see your desktop, it will undoubtedly look for data related to your finances. Therefore, you must never do it.

Trader’s Reviews of Wilton Option

At the time of this writing, Wilton Option had 45 reviews on Trustpilot with an average score of 4.1. However, the reviews were mixed and we believe the positive ones were written by bots. Here’s one that isn’t fake, written by a poor trader that got defrauded.

I have submitted multiple requests and messaged customer support several times and my account manager Mr Oscar for withdrawl but instead they want me to put in more funds, when i have already 109k euros with them without profits but still not enough to withdraw…

Trustpilot Customer

Wilton Option Range Investment Opportunities – Trading Instruments

Providing a comprehensive list of instruments can help lure victims into this trap. Wilton Option knows this, which is why the broker did it:

• Forex pairs – EUR/USD, USD/JPY, AUD/CHF…
• Indices – DOW30, UK100, NIKKEI225…
• Commodities – gold, wheat, crude oil…
• Stocks – Bayer, Toyota, Apple…
• Crypto – BTC, XPR, USDT…

Where Does Wilton Option Commit Fraud? – Countries Of Service

We did our research and found that Wilton Option engages in fraud in the following countries:

• The Netherlands;
• Belgium;
• Sweden;
• Ireland;
• Lithuania;
• Latvia.

Fortunately, Swiss FINMA reacted to this threat. We will urge other regulators to do the same. If you have some info, please share it and help us stop this devious scheme.

What’s more, we strongly recommend that you avoid the fraudulent brokers CoreGeneric Capital, ImportCapital, and XTB Global.

Wilton Option Accounts Overview

Wilton Option offers a total of five different account types:

• Mini – 250 EUR, leverage up to 1:5;
• Silver – 10,000 EUR, 1:50;
• Gold – 25,000 EUR, 1:200;
• Platinum – 150,000 EUR, 1:300;
• Premium – 500,000 EUR, 1:400.

The price jumps are outrageous. Each account allegedly carries numerous perks such as a personal account manager, blah, blah, blah. The first three have a withdrawal fee of 25 EUR + 1%. 

Company Offers a Demo Account?

No. There’s no demo account available. That’s a big red flag. To check out trading, you’ll have to invest, which is a problem. All we found was a promo code in the registration menu.

Minimum Deposit and How Do I Withdraw?

Wilton Option claims clients can deposit via credit/debit cards and wire transfers. However, instead of the latter, we found an option for cryptocurrencies. This small discrepancy is alarming. Scammers prefer crypto over bank transfers due to anonymity.

The minimum deposit is 250 EUR and the minimum withdrawal amount is 100 EUR. Fees are charged depending on the account type.

Wilton Option Negative Balance Protection

This cool feature comes into play once you’ve actually realized a certain trading volume. It prevents you from going negative, obviously. 

But first, you have to have a licensed broker and a valid platform to trade. Then you can think about negative balance protection.

How Much Is Leverage, Spreads and Fees

The maximum leverage is 1:400. Yet another reason why this broker is illicit. In the EU, there’s a leverage restriction (1:30 for retail clients). Anything above and you’re risking it big time.

Spreads start from 0.4 pips, which is great. However, we wouldn’t bet on that in this case. As for fees and commissions, Wilton Option says there are none.

Scammed by Wilton Option Broker? – Allow Us to Hear Your Story

If you have any useful information or experience regarding Wilton Option, please tell us. We will do our best to put this scammer away for good. Before concluding this review, we would also like to tell you more about possible refund methods. Namely, a chargeback and crypto tracing.

What Is the Chargeback Procedure?

• Credit/debit card transactions can be reversed via chargeback.
• You can request a chargeback at the issuing bank within 540 days.
• Crypto transactions allow the scammer to remain anonymous.
• However, with the right method, we can help you trace the payment to a wallet within a crypto exchange, after which, you can request a refund.

Contact us today and start your chargeback process.

What Is Wilton Option?

Wilton Option is an anonymous and fraudulent broker that allegedly offers Forex, CFD and crypto trading.

Is Wilton Option a Scam Broker?

Yes. We’re certain of it. The firmest piece of evidence is the warning issued against the broker by FINMA.

Is Wilton Option Available in the US or the UK?

Yes. Unfortunately, the illicit broker is available in both the United States and the United Kingdom.

Does Wilton Option Offer a Demo Account?

No. We didn’t find a free demo account or a trial account. All there is in the registration menu is a promo code field.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!

However, if you’re here because you suspect that your investment isn’t in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

Legal Procedures for Recovering Your Money from Scammers Offer a Good Chance of Success. Start by Simply Reporting the Fraud.

File a Complaint

This is one of those dangerous cases. Especially due to the appealing website with neat visual design. 

Nevertheless, you should refrain from investing in this shady offshore brokerage because of several alarming facts. In the Royal Oak Investment Review, we plan to outline them, so keep reading!

As well, stay away from the trading scams Bullexo, ViaChains, and Equinox Markets! Furthermore, before investing, always investigate the history of internet trading firms!

Is Royal Oak Investment An Anonymous Scam Brokerage?

Basically, yes. Royal Oak Investment, an anonymous broker, is actually based in Saint Vincent and the Grenadines (SVG), an island infamous for being a scammers’ nest. 

The laws over there aren’t strict at all. Moreover, SVG-based brokers don’t have a Forex license since the local Financial Services Authority (FSA) doesn’t regulate that market.

If Royal Oak Investment had invested as much effort in obtaining a valid license as it did on its website, the broker might have been worth your while. In this case, you shouldn’t invest.

Royal Oak Investment is a shady SVG broker that lacks transparency. The cyber fraudster claims to offer Forex, CFD and crypto trading and plans to defraud traders from the US, UK, Canada, Sweden and Germany.

Arguments For Trading With a Licensed Broker

Offshore brokers are known to lie about promising clients benefits that come with regulations such as segregation of funds, negative balance protection and indemnification.

Furthermore, they have no leverage restriction in place, which makes trading more dangerous. They also aren’t required to have significant operating capital. It’s best you stick with brokers that are licensed by the likes of the FCA, ASIC, CySEC, FINMA, etc.

Warnings From Financial Regulators

Given that Royal Oak Investment is unlicensed, the next logical step was to check for warnings against the broker. And, we found them. 

Namely, the Canadian Securities Administrators (CSA) and the Swedish FI both flagged this broker as a scam. Royal Oak Investment keeps collecting those Ls.

Analysis of Customer Reviews of Royal Oak Investment

We decided to check what traders had to say about Royal Oak Investment. Thus, we searched Trustpilot for the broker and found 25 reviews and an average score of 2.1 (poor).

On the website, we found numerous complaints about this cyber scammer. The general impression is negative. Here’s what one unfortunate victim of this scheme had to say:

I was with them for 3 month and after that I cannot acces the platform anymore since one week. I lost 20K CAD. IT’s just about manipulation to make you invest as much as possible then they disappear…

– Trustpilot user, January 21, 2023.

Overview of Royal Oak Investment’s Trading Platform

There’s no demo account and the only site link to the trading platform is broken. So, we were unable to see the platform for ourselves but Royal Oak Investment was kind enough to elaborate in the FAQ section.

The shady broker says it offers a web-based platform, i. e. WebTrader. This platform is good only for beginners but it won’t cut it for those with some experience. WebTrader only offers basic charts and indicators. Advanced features are missing.

iPhone and Android Trading Apps

Since the platform is accessed via a browser, you can use it on your mobile phone. However, we wouldn’t recommend it. Firstly, because the broker is unlicensed so your funds aren’t secure.

Secondly, nobody guarantees you’ll actually get to trade. The platform could be manipulated to show fake profits as well.

What Financial Instruments Does Royal Oak Investment Include?

According to Royal Oak Investment’s website, the broker offers the following trading assets:

• Forex pairs – EUR/USD, CHF/NZD, JPY/CAD…
• Indices – IBEX35, FTSE100, NASDAQ100…
• Commodities – gold, crude oil, wheat…
• Stocks – Apple, Audi, Netflix…
• Crypto – BNB, LTC, DSH…

It’s quite a list. Yet, we aren’t sure it’s all available since there’s no demo account. Instruments should be the least of your worries. A license and an effective trading platform & conditions come first.

Areas Of Royal Oak Investment’s Scam

We did our research and found that this con artist implements its scheme in the following countries:

• UK;
• US;
• Germany;
• Canada;
• Sweden.

On similarweb.com, we found that the scammer’s website was visited the most in November & December 2022 – 56,300 and 48,000 visits.

Fortunately, two of the regulators from the list have reacted and issued warnings. We hope the rest do the same.

In addition to the above, we strongly advise you not to invest in Invest Think, Merricks Invest and Networkfsi fraudulent brokers.

Royal Oak Investment And The Types Of Accounts Offered

Royal Oak Investment offers a total of five different account types on its website:

• Trial – 250 $;
• First-time Investor – 10,000 $;
• Build Your Future – 50,000 $;
• Build Your Monthly Account – 100,000 $;
• Royal Oak Heritage – 250,000 $.

Quite pricy, we must add. As for the leverage, it ranges from 1:100 to 1:400, which is north of the legal limit in the UK & EU (1:30) or US & Canada (1:50). Such high a level is the harbinger of great losses. Spreads are unbearably wide – 6.5 pips for EUR/USD.

There’s also a VIP account with special benefits that come at huge prices. What we didn’t find was a demo account, which is a red flag in our eyes.

Royal Oak Investment’s Trading Bonuses

Do you want to know why bonuses are always a bad sign? It’s because scammers attach shady clauses to them to prevent traders from withdrawing funds. 

Check it out. You’ll notice the insane trading volume required for withdrawals and it will be clear to you why top regulators have prohibited brokers from issuing bonuses.

Royal Oak Investment’s Deposit and Withdrawal Policies

The minimum deposit is 250 $, which is nothing unusual. However, we wouldn’t risk it. As for the funding methods, Royal Oak Investment listed the following:

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

This broker didn’t specify which e-wallets it deals with. The withdrawal fee is 1% but we doubt the scammer will allow traders to pull funds.

Royal Oak Investment’s Terms and Conditions

The broker’s T&C section is basically a description of some trading conditions. At the very end, we found the above-mentioned governing law paragraph relating to SVG.

It’s fairly obvious to us that this whole document was probably copied from somewhere. Scammers do it all the time.

Royal Oak Investment Broker Scammed You? – Please Tell Us Your Story

We could use all the info available to pressure more regulators to react to this cyber threat. Your help would be great. Tell us your story so we can help you get your money back.

Depending on the funding method, there are several ways of getting a refund. We’ll explain briefly but if you need more info, don’t hesitate to call us and start the chargeback procedure!

What Is the Chargeback Procedure?

• Credit/debit card transactions can be reversed via chargeback. You can request it at the issuing bank within 540 days.
• Wire transfer can be reversed via recall but only if the transaction isn’t complete.
• Crypto transactions must first be traced to a wallet within a crypto exchange. Afterwards, you can request a refund.
• If you’ve paid via e-wallet, you’ll have to contact the issuing company.

Here you can book a free consultation and find out what to do for a start.

What Is Royal Oak Investment?

It’s a shady offshore provider based in SVG that offers Forex, CFD and crypto trading.

Is Royal Oak Investment a Scam Broker?

Yes. The broker is unlicensed. Also, there are two warnings issued against it.

Is Royal Oak Investment Available in the United States or the UK?

Royal Oak Investment is available to traders from the UK but not to those from the US.

Does Royal Oak Investment Offer a Demo Account?

No. There’s no demo account available on the scammer’s website.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!

However, if you’re here because you suspect that your investment isn’t in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

Legal Procedures for Recovering Your Money from Scammers Offer a Good Chance of Success. Start by Simply Reporting the Fraud.

File a Complaint