PrimespotWay is a broker with numerous discrepancies. The Terms and Conditions mention two different companies, depending on the clients’ residency, while the Company tab mentions the third one. 

This and many other irregularities have been exposed in our PrimespotWay review. Make sure to read everything; it’s the only way to stay safe.

Is PrimespotWay Company Legal?

PrimespotWay says to be owned by PrimespotWay Ltd, based in Germany. Furthermore, the brokerage claims to be authorized to offer CFD trading on cryptocurrencies, commodities, stocks, currencies, and indices.

For this to be true, PrimespotWay would have to be licensed by the German regulator, BaFin. It is one of the firmest EU regulators, requiring brokers to keep their operational capital at a minimal level of 730,000 EUR, participate in the compensation scheme fund, and offer negative balance protection.

We found nothing after checking this and numerous other registers, including here ASIC, FCA, CySEC, and CONSOB. To make it even better, in its T&C, the broker says to operate according to the laws of the British Virgin Islands. It is a notorious offshore zone hiding numerous scammers.

Reasons Not to Trust an Unlicensed Broker

Unlicensed brokers don’t need minimal operational capital, do not participate in compensation funds, and usually don’t offer negative balance protection. Of course, they don’t keep clients’ funds in segregated accounts as per ESMA rules.

Simply put, an unregulated company can declare bankruptcy or close its website, and there’s not much you can do after. Since they provide customers with false headquarters, owners, and other information, starting any legal action is quite a challenge.

What is more, we strongly advise you not to invest in Crypto1Capital, MorganCapFX and Robexcoin fraudulent brokers.

So Is PrimespotWay a Decent Broker or a Scam?

PrimespotWay provides financial services without a license. The company is entirely anonymous, doesn’t comply with regulatory regimes, and puts your funds in danger. Numerous negative reviews indicate low trust among investors.

What Do Traders Think Of PrimespotWay?

PrimespotWay reviews might convince you that you’re trading with a good broker. If you check Trustpilot, for example, you will find a number of positive comments. Note that scam firms tend to write their own reviews to promote their services. However, the truth eventually comes out.

Here’s the latest review we were able to find.

“Primespotway.com the women Anna take all money and close account it was a scam is answer all-time $5000.00 US to get moore money and the time ou you make money i give you bad information and you lost everything donc not invest on this compagnie”

– Trustpilot Customer

What Platform Does PrimespotWay Provide Access To?

PrimespotWay has designed its own trading platform. Better said, they’ve taken the TradingView chart and added two buttons – buy and sell.

While advertising this tool as “simple, fast, and dependable,” they’re actually offering a free chart with the ability to place trades. The platform itself is web-based, meaning you’ll need to use a web browser.

To top it all off, there are no technical or fundamental indicators, making market prediction nearly impossible. If you’re about to start investing, we always advise finding a reputable broker offering MT4 or MT5. These platforms have the largest number of TAs and imply fund safety.

PrimespotWay Accounts Overview

Customers can choose one of the five account types, those being:

• Classic
• Silver
• Gold
• Platinum
• Premium

The initial deposit was not specified. However, the leverage ranges from 1:20 to 1:400, while spreads are lowering with account upgrades.

Here’s what else you can get if you pay more.

Is There Access to a Demo Account?

There’s no Demo account. This broker enables customers to review the platform after registering an account, but that’s all.

To start trading, you’ll need to subscribe to any of the abovementioned types. Note that unregulated firms can vanish with your funds anytime, so we advise you to stay away.

PrimespotWay – Countries Of Service

This trading firm provides its services all around the globe. However, the majority of negative reviews come from:

• Poland
• Spain
• Canada
• UK
• Switzerland

It’s only a matter of time before regulators will be on alert and issue a warning against this phony brokerage.

PrimespotWay Range of Trading Markets

Customers of PrimespotWay broker have access to all five major markets, including:

• Currency pairs – EUR/USD, USD/DKK, USD/ZAR
• Commodities – gold, silver, natural gas
• Indices – Dow Jones, CAC40, AU200
• Shares – Adidas, Nvidia, Netflix
• Cryptocurrencies – BTC, Zcash, Monero

This brokerage accentuates crypto trading, allegedly offering over 500 digital coins.

What Is Known About PrimespotWay’s Trading Conditions?

When evaluating a broker, most clients will be interested in the regulation. Right after, they’ll check leverage cap and spreads. These two have a significant impact on trading risks and costs. Let’s see what PrimespotWay offers.

Leverage and Spreads

Customers can gain leverage ranging from 1:20 to 1:400, depending on the asset. This is the final proof of their illegitimacy. According to ESMA and BaFin, the leverage allowed for German-based brokers is 1:30 for the Forex market and only 1:2 for crypto.

The spread hasn’t been specified, but clients can get a discount of 20-50% from the Gold account.

PrimespotWay Minimum Deposit, Withdrawal Terms, and Fees

The company requires an initial deposit of 100 units, depending on the account currency – EUR, USD, or GBP.

As per withdrawal, they don’t have a minimum amount. However, withdrawals are limited by a bonus clause. Nothing is specified, leaving the broker employees to decide on the trading volume and withdrawal terms.

Methods of Making a Deposit

The company accepts the following payment methods:

• Debit/credit card
• Wire transfer
• Bitcoin
• Carte Bleue

If a customer is depositing using a wire transfer, the minimum amount is $500.

Scammed by PrimespotWay Broker? – Let Us Hear Your Story

If you were scammed by PrimespotWay or a similar bogus brokerage, let us know. Our chargeback experts may be able to assist you in fund recovery.

Book your free consultation today and let’s find a way to get your money back. Don’t give up!

But What Is A Chargeback?

A chargeback is a way for the bank to reverse the fraudulent transaction made by credit/debit card. Contact us via online chat and our experts will provide you with a detailed explanation.

It’s time to start the recovery now!

What Is PrimespotWay?

PrimespotWay is an unregulated online trading brokerage allegedly based in Germany.

Is PrimespotWay a Scam Broker?

PrimespotWay is a scam brokerage hiding the real owner and headquarters. 

Is PrimespotWay Available in the United States or the UK?

The company provides its trading services to both UK and US residents.

Does PrimespotWay Offer a Demo Account?

No, PrimespotWay doesn’t offer a Demo account, only a platform overview.

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 the website looks exceptionally credible and it’s easy to find information, we discovered that ProsperityFX failed to get any valid financial regulation. And it tells a lot about the broker’s intentions and legitimacy.

Furthermore, the company doesn’t have many genuine client reviews, which is another red flag. Read our ProsperityFX review and find it all out!

Is Prosperity4x.com a Secure And Regulated Platform?

ProsperityFX is a brand of Prosperity Inc. LLC, registered in Saint Vincent and the Grenadines. This offshore island has no financial regulator. The FSA declared itself a register of investment firms and directed all Forex and binary options brokers to opt for a license in the country of service. Upon checking several Tier1 registers, including the UK FCA, Australian ASIC, and German BaFin, we determined that you’re dealing with an unlicensed firm.

How Unsafe Is An Unlicensed Broker?

Unlicensed brokers have no money-back guarantee. Unlike Tier1 registered firms with significant compensation funds of over 700,000 EUR to reimburse potential victims, such a possibility doesn’t exist with unregulated offshore schemes. Despite how good the offer may sound, ProsperityFX is unregulated and unsafe.

Also, we recommend you not to invest in the fraudulent brokers Buxberg, Aurora Coins and AxisCapital.

Is ProsperityFX a Legitimate Broker Or A Fraud?

ProsperityFX is not a legitimate Forex and CFD trading provider. The company is based in Saint Vincent and the Grenadines and doesn’t have a valid financial regulation. Reviews posted on Trustpilot are fake.

Traders Reviews About ProsperityFX

Checking Trustpilot, you would conclude that ProsperityFX is a way to prosper and succeed in the financial market. Sadly, this is just an appearance. If you check carefully, you will notice that all the reviews were written on the same day, the 22nd of October 2021, and ever since, there hasn’t been a single post. New brokers usually post false reviews to gain more customers, but it doesn’t mean you need to trust them.

ProsperityFX Offers MetaTrader 4 – But Is This Really the Case?

We will be honest that, unlike many scammers, ProsperityFX offers access to the real MetaTrader4. 

MT4 Platform Is Available For Desktop and Mobile

The platform is available in the web version, as well as an app for mobile and desktop devices. MT4 is one of the best software this industry has to offer. Usually, a fact you can trade on this platform would be terrific. However, scam brokers create their own trading conditions. And ProsperityFX is no different. You can’t win if both the broker and the market are against you.

All About Prosperity4x.com Accounts

The company offers 4 regular Live account types and an Islamic swap-free account. 

1. Mini – $25
2. Standard – $50
3. PRO – $250
4. VAR – $500
5. Islamic – $50

The main difference is the number of available trading pairs, spread, and commission.

Does The Broker Offer A Demo Account?

Another perk of ProsperityFX is a Demo account. Clients can test the platform for free and with no risks. Note that the real issue will start once you make the initial deposit and you need to get a payout.

Prosperity4x.com PAMM Account – How Does PAMM Function?

PAMM stands for Percentage Allocation Money Management. Basically, many investors are contributing to an investment pool where an expert trader or a designated account manager allocates these funds into trades. If profitable, each customer gets a percentage per their investment, while all the participants pay a commission to the account manager. This is not a bad type of investment, but when your money is managed by a financial adviser with no license, it’s hazardous.

ProsperityFX Broker – Countries Of Service

The broker mainly operates in:

• UK
• Canada
• South Africa

ProsperityFX Range of Trading Instruments & Markets

According to its website, ProsperityFX offers trading in:

• Currency pairs – EUR/USD, GBP/USD
• Commodities – gold, oil, silver
• Indices – NASDAQ, FTSE100
• Cryptocurrencies – BTC, ETH, XRP
• Shares – Amazon, Apple, Google

Also remember the names of the GlobalPairs, UnicoFX and Chase Capital Online trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

Prosperity4x.com Bonuses For Referring Traders – As A Method Of Fraud

ProsperityFX offers different levels of a bonus structure for the company’s affiliates. You can either recruit other affiliates or bring customers directly; depending on the level, you’re entitled to $0.05 to $3 per person. However, many scam brokers that offer bonuses and other incentives have malicious Bonus Policies. ProsperityFX has none, nor is this matter discussed in the Terms and Conditions. This means that your withdrawals are subject to the account manager’s personal decision on whether or not they will approve your request or ask you to reach any rollover and repay the bonus first.

Customer Support – Communication Channels

The broker’s support uses different communication channels to get ahold of customers. Registered users may expect phone calls, emails, and WhatsApp messages. On the other hand, the firm aggressively advertises and affiliates are looking for customers on Facebook, Instagram, and other social media. If you see the name ProsperityFX, know that you are being lured into a scam.

Minimum Investment Amount

This firm requires an initial deposit of $25. While it’s a relatively small amount, it’s not worth the risk. Any broker without a license has one goal – to bring more clients, run a Ponzi and disappear when the time comes. Don’t wait for it to happen. Report the scheme right away and recover your funds before it’s too late.

ProsperityFX Trading Conditions

As mentioned, unregulated firms create their own trading conditions. 

About Leverage And Spreads

The leverage is unregulated and goes up to 1:500. For instance, the limit in the EU and UK is 1:30, while in Australia, it’s 1:50. The spread is quite solid, starting at 1.2 pips, but the commission goes up to $8 per lot, which is rather high.

ProsperityFX Deposit, Withdrawal Methods, And Fees

The only payment method this firm accepts is Bitcoin. And that right there is the biggest red flag of all. While regulated brokers allow deposits via credit cards, PayPal, Skrill, and other payment methods with a guaranteed refund period, ProsperityFX wants to get ahold of your funds and has no obligation to return them. Furthermore, any commissions are not disclosed.

Don’t invest using crypto unless you’re absolutely sure you won’t be scammed. Recovering your funds later can be quite a challenge.

Scammed by Prosperity4x.com Broker? – Let Us Hear Your Story

ProsperityFX is a scheme broker, and getting defrauded is easy. If you find yourself a victim of this bogus investment firm, let us know. Our chargeback specialists may help you recover your funds.

While cryptocurrencies are not subject to chargebacks, credit card transactions are. If you have purchased crypto using your card, there’s still a way to get the money back. Nowadays, there are tools enabling decrypting crypto transactions and tracking wallets. For more details, contact us via online chat and book a free consultation with our specialists. Do it now.

What Is ProsperityFX?

ProsperityFX is an online Forex and CFD trading provider based offshore.

Is ProsperityFX a Scam Broker?

ProsperityFX is a scheme brokerage without financial regulation.

Is ProsperityFX Available in the United States or the UK?

The firm provides its services in the UK but doesn’t operate in the US.

Does ProsperityFX Offer a Demo Account?

Yes, ProsperityFX offers a MetaTrader4 Demo account for its traders.

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

Lately, there has been a lot of confusion related to the NBH Markets broker. For a start, the company holds CySEC regulation but hasn’t been based in Cyprus. Also, the leverage is 15 times higher than a CySEC regulated broker could offer. All this raised a red flag, and we decided to do our investigation.

Read our NBH Markets review and find out who this broker really is.

NBH Markets Regulation and Security

NBH Markets is a brand owned by NBH Markets LLC from Saint Vincent and the Grenadines. This makes the company offshore since their main office is in SVG. Yet, the broker has a CySEC regulation without Cyprus headquarters. How is that even possible?

For those who have never heard of white label programs, let’s first give a brief explanation. As a part of white-label, regulated companies are “renting” their regulation, platform, and other tools to unregulated brokers. Practically, you can use everything these companies have without actually having it yourself for a certain monthly fee. So, if we tell you that NBH Markets is a white label partner with NBH Markets EU Ltd, a separate company that is just borrowing regulation but does not control the company, would you still trust such a broker?

Fund Withdrawal Issues

Now, when you understand that the company itself has no regulation but getting one for a monthly fee, are you surprised to know that clients experienced withdrawal issues? Because we are not. According to NBH Markets reviews, this broker uses the fact it’s based offshore to scam clients.

Once you open an account, you can start with $100. Shortly after, someone is persuading you to upgrade an account to the next level – and that is $5,000. If you do such a thing and manage to profit, the withdrawal will not be possible.

Like many other offshore brokers, this one will suspend your account, and you have nothing to hope for.

Traders Opinion

Searching through reviews, we found specific comments that are clear alert. For example, clients stated that they had been told the company is based in Cyprus and works according to CySEC, offering leverage up to 1:30. Just once you actually enter the market, you will discover that leverage goes to 1:500, and with a minimum of $100, a loss is virtually guaranteed.

How Does Online Trading Scam Work?

As you had a chance to see, this broker is representing itself as a CySEC regulated. And that would be fine if NBH Markets employees explained the actual situation. That they are an offshore company and part of a white label program. Instead, they keep manipulating clients that are very upset once they find out that their money has been sent away. Far away.

If you have ever dealt with an offshore broker, you know that such brokers don’t care too much about regulatory rules. They will call clients day and night, push them to invest more, and the account will be banned once it happens. Clients are staying without funds, and money is most likely “lost on the market.” Some of these brokers go even further and blame clients for opening trades they never opened, claiming they lost their own money.

Beware of NBH Markets scam and also GK Invest, NordFX and Quotex.

Scammed by NBH Markets?

Hopefully, you still didn’t have a chance to work with NBH Markets. And if you did, you probably don’t like the outcome. Our company recently found out about activities of such brokers and decided to help out those in need. First of all, we would advise you to request a chargeback. If you have been scammed online, you are entitled to get your money back, one way or another.

For further details and assistance, contact our support team via chat. If you have been scammed by NBH Markets or any other illicit operation, they will give you all the necessary information during a free consultation. Let’s start the refund process today!

What is NBH Markets?

NBH Markets is an online trading brokerage from Saint Vincent and the Grenadines.

Is NBH Markets a scam?

Since the broker is based offshore, it is qualified as a high-risk broker.

Is NBH Markets regulated?

NBH Markets is a part of the white label program, and as such, holds CySEC regulation.

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

Forex trading is booming, attracting traders from all over the world. However, fake brokers lure people and capitalize on the growing interest. With our CertaInvest review, we want to help you avoid this fraudster. In summary, the CertaInvest broker is a textbook case of an investment scam. Its services are based on misinformation and deception.

Moreover, two financial authorities have issued a warning against CertaInvest. Overall, we recommend staying away from this trickster at all costs.

Also, we recommend you not to invest in the fraudulent brokers WaveSolutions, AppleTrade and XtreamForex.

CertaInvest Unlicensed And Risky Brokerage?

Simply put, yes; CertaInvest carries out a considerable risk to traders, inasmuch as it is an unlicensed brokerage firm. To elaborate further, this phony broker doesn’t act in accordance with the rules. This implies that it can’t be accountable for its actions. Thus, it leads to the conclusion that your funds are unprotected with CertaInvest.  

On top of this, CertaInvest is owned and operated by Raconteur Consulting LLC, headquartered in Saint Vincent and the Grenadines. This wouldn’t be a problem if we talked about a licensed broker. However, when an unregulated brokerage company is based in SVG, it raises a red flag. That is simply because this jurisdiction is an offshore heaven for broker scams due to lacking legislation.

CertaInvest is an unauthorized broker and trading name of Raconteur Consulting, registered in Saint Vincent and the Grenadines. Both companies are labeled scams by two financial market regulators. Besides that, traders can expect poor trading conditions and inferior software at CertaInvest.

Some Reasons Why It Is Better To Trade With a Licensed Broker

Not unexpectedly, trading with authorized brokers is very much suggested. In doing so, you can enjoy many benefits. Before all else, the safety of your investment is guaranteed. This is achieved through mechanisms such as negative balance protection and segregated funds. The former means that your account can’t have a negative balance. 

As for the latter, a broker holds your money separately from its capital. In this way, you are protected from a broker’s bankruptcy. 

Also, in the event of a broker’s insolvency, traders are insured by a compensation plan. In that respect, brokers licensed under top-level supervisory bodies (FCA, ASIC, BaFin) are immensely trustworthy. For instance, ASIC remunerates up to 100,000 AUD per trader.

Warnings From Financial Regulators As a Red Flag About Scam

Aside from being an illegal broker, CertaInvest has come under the scrutiny of two financial market regulators.

• FCA (Financial Conduct Authority) is among the most prestigious agencies in the industry. It closely cooperates with HM Treasury and controls the financial markets in the United Kingdom. The FCA has blacklisted CertaInvest (certainvest.io) for providing services in the UK without mandatory accreditation.

• ASF (Autoritatea de Supraveghere Financiara) is another authority that warns against the CertaInvest holding company, Raconteur Consulting. ASF monitors securities markets in Romania. 

What Platform Does CertaInvest Provide?

Trading platforms provided by fraudsters are all much of a muchness – worthless. Accordingly, the CertaInvest trading program is useless for real and profitable trading. In fact, it is a web trader with generic features that lag behind advanced instruments provided by the latest programs (e.g., MetaTrader 4, MetaTrader 5, cTrader, and Sirix). While on the subject of state-of-the-art tools, they include social trading, expert advisors, stop loss, and more.

Trading On Mobile

Speaking of trading on mobile devices, despite its claim, CertInvest can’t deliver it. A web trader bounds you to trading from search engines. In other words, there is no mobile trading app at CertInvest. By comparison, modern software like MT4 and MT5 enables trading from every device (smartphones, desktops, and tablets) either as downloadable programs or internet-based platforms.

What Сan Be Traded? – Assets List

When it comes to financial markets, every broker scam copies a legit forex provider by offering plenty of trading instruments. In the same fashion, CertaInvest allegedly provides trading on the following markets.  

• Forex pairs: USD/JPY, CAD/AUD, GBP/EUR;
• Indices: S&P 500, UK 100, CAC 40;
• Shares: Microsoft, Amazon, Netflix; 
• Commodities: metals (copper, aluminum, silver), energies (crude oil, natural gas, electricity), and agricultural products (soy, cocoa, coffee).

Don’t let this offer hoodwink you. No matter the number of tradable assets, CertaInvest is a proven financial hoax.       

What Are Traders Saying About CertaInvest?

Before moving forward, we want to emphasize the following. Namely, many phony brokers counterfeit online customer reviews using bots and false clients. By the same token, positive CertaInvest reviews are falsehoods; consequently, don’t pay attention to them. Additionally, trust your research and advice from professionals.

Where Does CertaInvest Engage In Fraud? – Countries Of Service

Examining reports, it turns out that victims of the CertaInvest are mainly EU-based. This con artist is focused on scamming traders from

• Germany
• Ireland
• UK
• Netherlands
• Portugal
• Romania
• Poland.

Normally, brokerage companies that trade in any of these markets must be authorized by BaFin, CBI, FCA, AFM, CNMV, ASF, and KNF. Hence, if you come across CertaInvest, please ignore it for the sake of financial safety. 

Financial Affiliate Program

In connection with the Financial Addiliate Program, it is nothing but a type of promotion allegedly enabling you to make more than you can imagine. So, be careful about easy earning. Financial swindlers try to entice traders with generous bonuses. Because of the mishandling, many authorities ban prizes.

Likewise, when lucrative opportunities come from a shady brokerage firm, it is a clear warning signal. If you want fairness, it is only possible with certified brokerage firms.

What Are the Different CertaInvest Account Types?

Apropos of types of trading accounts, CertaInvest trading includes the following versions.  

• Bronze: 250 EUR minimum deposit, spreads 0.18 pips, leverage 1:50;
• Silver: 2,500 EUR minimum deposit, spreads 0.14 pips, leverage 1:100;
• Gold: 10,000 EUR minimum deposit; spreads 0.12 pips, leverage 1:300;
• Platinum: 25,000 EUR minimum deposit, spreads 0.10 pips, leverage 1:500;
• Diamond: 100,000 EUR minimum deposit, spreads 0.0 pips, leverage 1:600.

This offer is nothing new under the sun. We have seen a similar modus operandi so many times. It bears all the hallmarks of a plain rip-off. Therefore, once again, give a wide berth to CertaInvest.

Free Demo Account

Another trait of scammers is a lack of a demo account. In the same manner, CertaInvest doesn’t offer this option. To have that, you must choose credible brokers. By way of explanation, a demo account allows testing platforms, styles, and conditions free of charge and with no risk. It is especially essential for beginners. In today’s industry, it is an integral part of every broker’s offering.         

About Leverage, Spreads, and Fees

In light of trading conditions, bear in mind that bogus brokers provide terms akin to their reputation, i.e., fabricated and unfavorable. As regards CertaInvest, its maximum leverage is 1:600. This whooping ratio goes against legislation in many jurisdictions, e.g., it is limited to 1:30 in the EU and 1:50 in the US. This restriction keeps retail traders safe from risk arising from high leverage.

Anyway, if you are a professional trader looking for a higher ratio, we advise trading with legal brokerage services. About spreads, this financial swindler reportedly has ultra-low spreads (0.18 to 0.0 pips), which are obviously manipulated to be more cost-effective.

High Minimum Deposit and Withdrawal Terms

When having a look at the CertaInvest account offering, it can be observed that its starting deposit is higher than the industry average. As a matter of fact, its request of 250 EUR perfectly aligns with fraudulent projects. Investment scams always charge a hefty sum for deposits. In contrast, you can start trading with a reliable broker for as low as 10 USD. With reference to the funding methods, scroll down to the next section.

Concerning withdrawals, 100 EUR is the minimum withdrawal amount. Allegedly, it takes up to five days for withdrawals to be processed. Anyhow, keep in mind that drawing funds out are not possible with scam artists.             

Payment Methods Available

In the matter of means of payment at CertaInvest, you can supposedly transfer money to and from accounts via credit/debit cards, wire transfers, and digital wallets (Bitcoin). As for the first two, they are safe since they can be tracked, canceled, and refunded. However, we are sure that this fraudulent broker does not accept them. Thereby, CertaInvest supports only cryptocurrencies for depositing; but more about it is below.

Scammed by CertaInvest  Broker? – Let Us Hear Your Story

If you are one of the unsuspecting victims of the CertaInvest scam, luckily, getting your money back is doable. But, above all, inform the related authorities. Likewise, don’t forget to post negative reviews and alert others. Finally, apply for cashback or get in touch with chargeback specialists.

How Does Chargeback Work?

If you wonder how to get a refund, then you must take into account the form of payment. You are lucky if you have deposited through VISA and Mastercard. In that case, you can apply for repayment within 540 days. Be careful with bank transfers; although they can be terminated, you must do it before approving the transaction.

As mentioned earlier, fraudsters like CertaInvest insist on depositing via crypto wallets. In so doing, they take advantage of vulnerabilities of crypto payments (e.g., anonymity and irreversibility). In any case, our chargeback specialist can help you retrieve even crypto wallets. For this reason, contact us today.

What Is CertaInvest?

CertaInvest is a bogus brokerage firm with no license and regulations.

Is CertaInvest a Scam Broker?

 Yes, CertaInvest is a debunked scam by FCA and ASF.

Is CertaInvest Available in the United States or the UK?

No, CertaInvest doesn’t provide services in the US, but it does in the UK. However, it is blacklisted and unauthorized.

Does CertaInvest Offer a Demo Account?

No, CertaInvest doesn’t offer a demo account, which is expected from plain fraud.

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 Forex brokerage promises a web trading platform with high leverage and competitive spreads. However, the company’s regulatory status seems elusive. 

Is Megainvestco up to no good like TradesPeck? The information and content on the website seem to point to that. In order to reveal the truth, we decided to investigate this platform in our Megainvestco Review. 

Legal Info: Is Megainvestco Regulated?

Megainvestco claims to be based in Switzerland, which is simply not true. The company is not registered anywhere. Simply check the database of the local regulator FINMA to confirm it. 

The website also says the business is regulated by the Cyprus Securities and Exchange Commission (CySEC) but this is just another in a series of lies.

We found two regulatory warnings issued against Megainvestco. On September 6, 2023, the Belgian FSMA first issued a warning against the platform. The Italian CONSOB and Spanish CNMV followed with their warnings soon afterwards.

In conclusion, Megainvestco is definitely not a safe option for trading. Avoid this platform and instead find a licensed provider that’s regulated by a reputable financial regulator such as the FCA (UK), CFTC & NFA (US), ASIC (Australia), FINAM (Switzerland), IIROC (Canada), etc.  

If Megainvestco scammed you, we can help you recover your money!

Who Are Megainvestco’s Targets?

According to godaddy.com/whois, the Megainvestco.com website domain was created on October 17, 2022. Since then, the unscrupulous financial swindler has been primarily targeting unsuspecting traders who reside in the following countries:

• France;
• Germany;
• Finland;
• Sweden;
• Denmark.

Megainvestco has set his diabolical gaze on reputable European financial hubs. To reiterate, the FSMA, CONSOB, and CNMV (all EU regulators) blacklisted the platform because it is not registered to provide Forex or crypto trading services. 

The broker ignores regulatory rules in force in Europe. For instance, you can set leverage up to 1:500 on this platform but the legal cap in the EEA zone is 1:30 for retail clients. Always check your provider first because even regulated brokers such as EuropeFX go astray. 

Trader Reviews – Sharing Experiences

Trader evaluations are exclusively posted on one forum – reviews.io. Interestingly, there were 47 reviews with an average rating of 4.6/5 at the time of this writing, even though the brokerage firm has been red-flagged by two respectable European regulatory watchdogs.

This raises the question – are these reviews potentially deceptive or dishonest? Is it possible that Megainvestco has provided individuals with incentives in exchange for positive feedback? 

We strongly suspect this to be the case. The platform received a terrible trust score on webparanoid.com. We’d rather believe the regulators on this one precisely because the reviews may be subject to fraud.

Do not trade on unregulated platforms. We can help you find a legitimate broker!  

Megainvestco Trading Platform

Megainvestco offers access to two trading platforms, WebTrader and DesktopTrader, each with its distinctive characteristics as implied by their names—one being web-based, the other for download. The shady broker boasts about these platforms, highlighting an array of impressive tools for traders.

However, we were unable to give our own assessment due to the absence of a demo account for the desktop platform. In the context of the browser-based platform, it disappoints in comparison to the grand promises on the website, offering only rudimentary charts and indicators.

The platform lacks advanced features like automated trading, live market reports, and a customizable interface equipped with sophisticated charting capabilities. Megainvestco does not support widely used third-party software such as MT4 or MT5, which are far superior platforms.

Megainvestco Account Types

Megainvestco claims to offer five live trading account types:

Leverage, Spreads and Commissions

Megainvestco’s maximum leverage of up to 1:500. It is important to keep in mind that high leverage is risky, especially if you’re a beginner and market volatility isn’t your friend. High leverage can magnify profits but also losses.

On another website page, the phony provider specified that the minimum deposit to open the Savings Account is 100 USD. However, the platform doesn’t support a risk-free demo account, which is a big drawback. If you’re a newbie trader, you shouldn’t be risking real money without practicing with virtual funds first.

When it comes to trading costs, i.e. spreads, Megainvestco advertises tight spreads starting from 0.0 pips. Again, without access to the platform, we couldn’t confirm it.

Megainvestco Withdrawal Process

The website listed two available payment methods for deposits and withdrawals:

• Credit/debit cards;
• Wire transfers.

The minimum deposit requirement is 100 USD. According to Megainvestco’s website, the illicit brokerage firm does not charge any deposit or withdrawal fees.

Funds deposited via MasterCard and VISA credit/debit cards can be refunded via a chargeback, which can be requested at the issuing bank within 540 days. Wire transfers can be reversed via a recall but this action can only work for transactions that are not yet complete.

Key Facts To Consider About Megainvestco

To recap, Megainvestco is an unlicensed Forex trading scam. The main targets of Megainvestco are traders residing in France, Germany, Sweden, Denmark, and Finland.

The platform was recently blacklisted by the FSMA, CONSOB, and CNMV, which is the main reason why we do not recommend you trade on it. It’s as bad as Kowela.

If you lost money to the Megainvestco scam, please book your free consultation with us and tell us more about what happened. If you need professional assistance in recovering your funds, our team will gladly guide you through the chargeback process and assist you every step of the way.

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

FAQ Section

Is Megainvestco Legit?

No, Megainvestco was recently blacklisted by the Belgian FSMA, Italian CONSOB, and Spanish CNMV.

What Is the Minimum Deposit for Megainvestco?

The minimum deposit for Metainvestco is 100 USD. Need help getting your money back? Book a consultation with us.

Does Megainvestco Have a Mobile Trading App?

Yes, the cyber con artist supports a mobile trading app for Android and iOS devices.

How much is Megainvestco’s withdrawal fee?

According to the website, Megainvestco does not charge any deposit or withdrawal fees.

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

According to the website, this company represents an international business focused on foreign exchange services, CFD trading and related activity. There’s a couple of licenses presented and the domain is almost two decades old. 

At a glance, the firm has everything to make their offer believable. That’s why we strongly recommend you to keep reading our OTFX review and find out which ones of these statements are not true and why. 

Shallow Legal Info

The legal documents found feature obscure crucial information. There, we learned the true address of the company to be St. Lucia – an offshore zone where the regulatory authority doesn’t license brokers. Now, let’s discuss licenses.

The only reliable brokerage is a regulated one, preferably by a Tier 1 body. This shady firm claims to be registered with MSB, ASIC and NFA. That was easy to determine, as we immediately checked all of the databases and found nothing related to this suspicious conduct, except NFA explicitly clarifying that the firm is not their member. 

Additionally, FCA, BaFin, CySEC, and FINMA also have no intel on these fraudsters. So better keep your funds safe and stay away from TradeCryptoMasters, as well. You will have far better chances at making profit with a broker that allows segregation of funds, compensation schemes and negative balance insurance.

Hunting With The Net

This unscrupulous group is using a domain that dates back to 2005. The WhoIs database, however, tells us that the domain remained dormant for a long time, only to host this would-be broker in September 2023.

Our advanced analysis tool tells us that the site is most visited in these nations:

• Malaysia
• China
• United States
• Singapore

The company employs false advertising on social networks, as well as boiler room agents to attract new clients. We can see their profiles on Facebook, Instagram, X, LinkedIn, and YouTube.

The misleading content on these networks allows the company agents to more easily persuade their victims by phone and Telegram online chat service.

These people are not to be believed, no matter how confident they seem! If you’ve already invested in the OTFX broker scam, contact our legal experts to learn more about recovery.

What Are The Costs?

An immediately detectable red flag is when the company you’re signing up with doesn’t provide accurate trading information and conditions. The approach of these schemers consists of them claiming to offer the most amiable trading terms in the industry, without clarifying what the concrete numbers are. 

In accordance with the marketing based on selling empty promises, we cannot say what the exact leverage allowed is, or the spreads. There’s several conflicting statements about the trading costs and they’re all different. In one place on the website it says that the spreads start from just 0.7 pips, but other parts of the site show something else.

Incomplete Trading Information

Although the otfx.com website does contain some information pertaining to general trading information, it’s only partial. The company does not disclose a full list of assets, and the registration page is non-functional. This has prevented us from testing the actual environment first hand.

Inaccessible Trading Software

The main trading app is said to be on the forefront of software development, featuring many exciting features. Reaching it, however, has proven difficult as you may not access it without an actual trading account.

Many of these fraudsters, like Whalestep for instance, actively tamper with the trading data in their app. It’s always best to use a broker which features industry standard programs like cTrader, MT4 or MT5.

Shady Mobile Platform

There is a mobile app, available through Google Play, but it was only downloaded 5 times. In order to get the app, we had to search for it externally, as the links on the company website do not work. We were unable to find the alleged iOS compatible app, as it is not available on the App Store.

Selection Of Instruments

The company advertises some 17,000+ markets to trade on. This is difficult to believe, as there is no full disclosure of all the allegedly available assets.

Featured instruments are only available in the most popular categories:

• Forex – EUR/USD, GBP/USD, USD/CAD, USD/CHF
• Cryptocurrency CFDs – BTC, ETH, EOS, XRP, DOGE
• Stocks CFDs – AAPL, AMZN, MSFT, GOOG, TSLA
• Bonds CFDs – EURBOBL, EURBUND, ITBTP10Y
• Indices CFDs – DE40, F40, JP225, STOXX50
• Commodities CFDs – Brent, Crude, Corn, Wheat, Gold

Account Creation: Error 403

If you’re still determined you want to invest in this monkey business, you might want to go ahead and try to register for an account. 

When you click the button that should lead you to the registration page, you will only get an error signifying that the wanted webpage doesn’t exist. Whether that is a temporary issue or the website owners have permanently disabled the option – we do not know. 

What is certain is that the account types are never mentioned. It remains a mystery what packages are available, what they feature and how much they cost.

Payout Policy is Missing

After taking a look at the ridiculously badly put together legal documents, we weren’t surprised there was no Withdrawal Policy in the legal section. What should otherwise be a clarification on the payout procedure, processing time, costs and transfer methods is not even a part of the mandatory information. 

Without properly being able to create an account, we can’t say what the user area hides, either. This much secrecy is worrying to say the least, and we suggest you rather go with a safer variant and a serious firm built on professionalism and transparency, not fraudulent intent.

No Customer Support Info

Outside of the client area, there are no customer support options to speak of. While some options might be available through the dashboard, we couldn’t create an account and reach out to the firm.

Although it is possible that their Telegram page features some kind of customer service, it is a den of boiler room agents, and most likely not a good way to get help with your issues.

Get Your Money Back From The Scammers!

There’s nothing nice to say about this company or their services. They use deception strategies to get new clients, and lack a license to provide any kind of service. The information about trading conditions and costs is partial at best, and outsiders are prevented from creating an account in the first place.

If you’ve got money invested with this company, consider booking a consultation with our chargeback experts. You may do so via the live chat on our website, which is available 24/7 for your convenience.

FAQ Section

What is OTFX?

This is an investment trap, aimed at financially running Forex beginners.

Is OTFX a Legal Broker?

No, although they claim to be regulated by FINTRAC, ASIC and NFA, they’re actually not.

How to Withdraw Money From OTFX Account?

It is not known what is needed to submit a withdrawal request. If you’re having issues with that, please contact our legal service immediately.

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

Investing in stocks can be a great way to grow your wealth. Yet, it’s a must to choose a reputable broker that you can trust. Sadly enough, not all brokers are created equal, and there are some out there that are downright suspicious. 

OptimalStocksPro is one such broker, and many investors are wondering whether it’s worth the investment or if it’s a scam. In this OptimalStocksPro review, we’ll take a closer look at the broker and its practices. This will help you decide whether or not it’s a safe choice for your investment portfolio. So buckle up, and let’s dive in!

Is OptimalStocksPro a Regulated and Licensed Broker?

After conducting a thorough search, it appears that OptimalStocksPro is not a regulated or certified broker. Their website shows a page that asks for a promo code and nothing else. It does not list any regulatory bodies or licenses, and there is no information available about any regulatory agency overseeing its operations. 

This lack of regulation and oversight is a big red flag for investors. What this means is that there is no guarantee that OptimalStocksPro is operating legally and ethically. Investors should always prioritize brokers that are approved and regulated by reputable agencies to confirm that their investments are safe.

If you’re looking to grow your wealth through investing in stocks, you must find a reliable broker. Sadly, not all brokers are trustworthy, and some are even suspicious. OptimalStocksPro is one of these brokers, and many people are wondering if it’s a legitimate investment or a scam. In this review, we’ll examine OptimalStocksPro’s practices to help you decide if it’s a safe choice for your portfolio. So, let’s take a closer look at this OptimalStocksPro review.

Regulation is a critical component of the financial industry, and it safeguards both investors and brokers. Regulated brokers are required to comply with specific rules and regulations set forth by the regulatory agency. This helps to ensure that the broker operates in a lawful and righteous manner and is not engaging in any unethical activities. Also, regulated brokers are required to maintain certain financial standards, which protect investors’ funds in the event of bankruptcy or other trouble. 

The absence of FCA, ASIC, and BaFin licenses for OptimalStocksPro means that the broker does not have Tier 1 regulation. This is a cause for concern for everyone seeking a high level of regulatory oversight. Also, it is wise that people approach firms like OptimalStocksPro, SpotInvest, and other similar entities with extreme caution. These firms have been the subject of doubt and scrutiny within the investment community. 

Warning Issued by Financial Authorities 

Investors should be aware that financial authorities have issued warnings against OptimalStocksPro. The Alberta Securities Commission (ASC), for example, has specifically warned investors in Alberta, Canada about the broker’s activities. It states that OptimalStocksPro is not registered to trade securities in the area and that it has been soliciting people to invest through its bogus online platform. 

The ASC has advised investors to exercise caution and to be careful of unsolicited offers, particularly from unregistered firms like OptimalStocksPro. This regulatory warning is just one example of the growing concern around the practices of OptimalStocksPro and serves as a clear indication of the possible risks involved in dealing with this broker.

There is also a warning from Ontario Securities Commission that warns against this broker scam.

OptimalStocksPro Platforms – A Software Comparison

One major red flag about OptimalStocksPro is the lack of information provided about its trading platform. Scam brokers often make vague or unrealistic promises about their trading platform’s features and functionality to lure in investors. 

However, OptimalStocksPro does not provide any details about its platform on its web page, as the whole web page is inaccessible. This is worrying for sure. Without this relevant information, investors are left in the dark about the broker’s trading capabilities, making it hard to assess the broker’s legitimacy. As such, investors should beware when considering OptimalStocksPro as a potential broker.

What Financial Instruments Does The Platform Include?

It is concerning that Optimal Stocks Pro does not disclose the trading instruments available on its platform. 

What is even more concerning is that this broker now requires users to provide personal data before disclosing any information about their trading terms, making it hard for people to assess the risks related to the broker’s activities. Besides, the fact that the company operates without any legal basis, such as a license or certificate of incorporation, adds another layer of concern for potential investors. Keep this in mind. 

OptimalStocksPro – Countries Of Service

Recent reports suggest that the broker has been scamming traders from Canada and Moldova. Let’s not forget that the Alberta Securities Commission has issued a warning to investors in Alberta, Canada, about OptimalStocksPro’s activities. 

The warning states that the broker is not registered to trade securities in the province. Meanwhile, OSC also warns against this company, as we mentioned earlier. 

Account Options Offered by OptimalStocksPro

OptimalStocksPro’s lack of transparency extends to its account options, which are not clearly outlined. Without this crucial information, it is difficult for you to determine which account type would be best suited to your investment goals and risk tolerance. 

Also, it is concerning that OptimalStocksPro’s website is often inaccessible, making it impossible for potential investors to even consider the broker’s account options. As such, please be careful when considering OptimalStocksPro as a potential broker. Always seek a reputable and transparent broker.

Can a Trader Use a Demo Account?

Since we couldn’t see the account types, the same goes for a demo account. This broker scam likely does not offer a demo account. Be mindful of that. 

A demo account is crucial as by using it, people can try out the platform without losing real funds. 

Terms of Service at OptimalStocksPro

As expected, there is no data available regarding the Terms of Service for OptimalStocksPro. This broker has not disclosed any details about its TOS, making it hard for traders to know what they’re agreeing to when using the platform. 

The Terms of Service is an important document that outlines the rules and principles of a broker. It’s critical for traders to have access to this information. Still, without this information, traders may want to consider using a broker that provides transparency on their Terms of Service.

Note: Both OptimalStocksPro and Roi Republic have a history of deceiving people and operating as unregistered companies.

Leverage, Spreads, and Fees

As this broker did not disclose any data about its account types, the same goes for leverage, spreads, or fees. These factors are critical for traders to understand the risks and costs associated with trading on the platform. 

Leverage is a valuable tool that allows traders to amplify their positions, but it also comes with high risks. Spreads and fees can also affect a trader’s profitability, so having this information readily available is crucial. Beware of this. 

How to Address OptimalStocksPro Issues?

If you have fallen victim to the OptimalStocksPro, or Bidaskbit broker scam, don’t panic! There is still hope. Contact us as soon as possible, and we will help you resolve the issue. 

Our team of experts is highly trained in dealing with such scams and will do everything in our power to help you recover your money. The OptimalStocksPro scam has affected many people, but you don’t have to suffer alone. We are here to support you and provide the guidance you need to navigate this complex situation. We will fight for your rights and ensure that justice is served.

What Is OptimalStocksPro?

OptimalStocksPro is a broker scam offering trading services in financial markets.

Is OptimalStocksPro a Regulated Broker?

No, OptimalStocksPro is not regulated by any financial authority.

Is OptimalStocksPro Available in the United States or the UK?

It is unclear whether OptimalStocksPro is available in the US or the UK.

Does OptimalStocksPro Offer a Demo Account?

It is not clear if this company offers a demo account.

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

TopTrade500 is a fraudulent firm. In fact, we could easily say it’s a clone firm of CySEC-regulated brokerage Plus500. If you check their website, you will find an address and a regulation number belonging to Plus500 CY Ltd.

Since we’re already on a bad start, let’s elaborate further on this trading firm and see what else you’re told, but it turned out to be false. Read our TopTrade500 review carefully; we’ve covered it all.

What is more, we strongly advise you not to invest in Broker Capitals, WinzoFx and Trade Unity fraudulent brokers.

TopTrade500 Uses the License Number of Another Broker

As mentioned at the start of this review, TopTrade500 is a bogus broker. Allegedly owned by TopTrade500 Ltd, the investment platform claims to have a CySEC license number 250/14. Upon checking the register, we found it’s a regulation of Plus500, a legit firm with numerous domains, none of which is toptrade500.com. TopTrade500 Ltd has never been regulated by CySEC or any Tier1 authority body, including BaFin, CONSOB, FCA, ASIC, etc.

So Can I Trust TopTrade500, or Is It a Scam?

In conclusion, you cannot trust the TopTrade500 broker. Unlicensed trading firms, such as this, don’t follow any rules, have no compensation funds, and usually disappear after sufficient profits. This clearly indicates that you shouldn’t trust anything you read on the website or hear from broker employees. If a company can lie about its regulations, it’s a question of what else they can scam about.

TopTrade500 is not a legit broker. Despite false claims, the firm is unlicensed and your funds are at risk. Hundreds of negative reviews show that the company operates illegally.

What Do Traders Think Of TopTrade500?

If you search for TopTrade500 reviews, you will see a mix of positive and negative, with the latest one prevailing. Scheme brokers tend to write their reviews at the start, but eventually, the truth emerges. It’s impossible to defraud hundreds of customers and hide it, and TopTrade500 complaints are proof of that. Customers mainly complain about withdrawals since they never got a penny back. While you’re willing to invest, everything goes smoothly. Once you decide to ask for a payout, things start going south.

TopTrade500 Available Online Trading Platform & Tools

TopTrade500 offers a proprietary trading platform advertised as the “ultimate platform providing access to over 135 tradable instruments.” However, upon registering an account, we were provided with quite an odd trading solution. The dashboard itself consists of a large chart and small buttons in the top left corner. The most bizarre thing was the blinking green button saying, “all’s well – market is open.” Overall impression – lousy software not worth your time.

So, What Is The More Efficient Software?

If you’re considering online trading, you should check MetaTrader software. Whether you choose MT4 or MT5, you’re ensuring yourself the safest and best trading tool. MetaTrader has the largest number of charts and indicators, and it’s fully customizable and convenient for any trading strategy. In addition, it enables advanced features such as EAs and social trading.

TopTrade500 Accounts Overview

You can choose from one of the four TopTrade500 accounts, those being:

• Mini – 250 EUR
• Standard – 2,500 EUR
• Silver – 25,000 EUR
• Gold – 100,000 EUR

The first two have a spread of 1.2 pips, the Silver one has a 0.8 pips minimum spread, while the Gold account has no spread. However, you’ll be charged $2 per traded lot on this account. Besides costs, there seem to be no other differences.

Also, remember the names of the XE Prime, SwissFXM and LiraFX trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

TopTrade500 Broker – Countries Of Service

Our review has shown that the TopTrade500 trading scam mainly targets European residents, with the majority of victims being from:

• Germany
• Slovenia
• Croatia
• UK
• Netherlands
• Austria

Since the firm has no CySEC or any other license, none of the customers are covered by the ICF.

TopTrade500 Range of Trading Markets

Customers can trade in all major markets, including:

• Forex – EUR/USD, AUD/CAD, USD/TRY
• Commodities – coffee, gold, palladium
• Indices – NASDAQ, DAX30, AUS200
• Shares – Netflix, Amazon, Tesla
• Cryptocurrencies – ADA, SHIB, BTC

As the broker admittedly listed, there are 135 instruments. This can be considered quite a low offer compared to legitimate firms providing thousands of assets. Thus, you have no reason to involve yourself with this fraudulent firm.

What Trading Terms Does TopTrade500 Offer?

Since the company is not regulated, TopTrade500 has no obligation to follow the rules. The broker can decide on its own trading conditions, from spread to leverage. This is quite risky since you can never be sure if these conditions will remain or if the broker will change them. Additionally, you cannot do any risk management or calculate trading costs.

About Leverage and Spread

The spread ranges from 1.2 pips for the Mini account to 0 spread for the Gold account. While this offer may sound tempting, you should know that low costs usually imply that the broker is more interested in your deposit. As per leverage, it’s not mentioned. This means that you have no idea of the risks.

Minimum Investment Amount

The minimum deposit with the broker is 250 EUR. While this may be considered an industry standard, it’s quite a lot knowing company’s history. Customers cannot get their money back, meaning that every penny you invest is at risk. Find yourself a legitimate firm offering lower initial deposits and a safer environment.

TopTrade500 Deposit, Withdrawal Methods, and Fees

There is no Terms and Conditions or a Withdrawal Policy that would tell us anything about the fees and terms. It’s a clear indicator that the company has no intentions of giving your money back. The only way to contact them is through the form on the website or by sending an email, which can easily be ignored. Thus, withdrawals are impossible.

Methods of Payment

Once we registered an account, we were offered only one payment method – Bitcoin. Customers are asked to purchase crypto through Coindeck.com and transfer it to the broker’s wallet. As you know, once you transfer crypto, it takes a real expert to trace it, while it’s not subject to chargeback dispute or any other recovery method. This is the biggest red flag and a final reason to avoid TopTrade500.

Scammed by TopTrade500 Broker? – Let Us Hear Your Story

Since it’s clear that TopTrade500 is a fraudulent website, don’t beat yourself too hard if you end up as a scam victim. It can happen to anyone. Our recovery specialists will be glad to hear from you and help you get a refund.

Book a free consultation with us and we will do our best to help. Don’t let scammers keep your hard-earned money. Fight back!

What Is TopTrade500?

TopTrade500 is an unregulated clone firm of the CySEC-regulated brand Plus500.

Is TopTrade500 a Scam Broker?

TopTrade500 is a scheme firm that tries to convince investors about being legit.

Is TopTrade500 Available in the United States or the UK?

The broker provides services in the UK but not in the US.

Does TopTrade500 Offer a Demo Account?

Yes, customers can review the platform using a free Demo account.

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 looked into FinoMarkets broker to see if they’re legit or not, and it certainly seems like they’re not. The company is an absolute ghost online, with no reliable information about its actual location. They also have all the hallmarks of a scam, high leverage, lots of complaints, and unreliable information on their website.

Regulation and Security

CFD and forex brokers are regulated by regional organizations that make sure they’re doing things by the book. Despite claiming to be based in England, our FinoMarkets review revealed that they have no registration with the UK’s FCA. In fact, they don’t have any registration with any regulator of any kind.

What this means is that there’s nobody watching their books to make sure they’re actually paying out trader funds. There’s no compensation fund for if they go under, which means they can disappear without a trace and take all your money with them. Trading with an unregulated broker is always a big mistake, and FinoMarkets broker is completely and unambiguously unregulated.

Warnings From Financial Regulators

From what our FinoMarkets review can gather, the company only began operations in 2021. It takes time for financial regulators to investigate these types of scams, so there aren’t any direct warnings about the broker yet.

The FCA routinely warns to avoid unregulated brokers in general and unregulated CFD brokers specifically. We’ll keep an eye out on the scam lists from the FCA, CONSOB, and other regulators that put out regular updates to watch for the inevitable warning about FinoMarkets.

Investors Given No Access to Their Funds

FinoMarkets is a classic example of how online investment scams work. They can offer all bonuses and leverage they want, but the grim reality is that investors simply aren’t able to take any money out. There are numerous complaints about this practice. We haven’t heard from anyone who managed to make a profit investing with FinoMarkets and then withdraw the money.

FinoMarkets Reviews From Their Former Clients

FinoMarkets reviews on Trustpilot are currently sitting at 3.7. This sounds bad enough, but it’s only this high because half of the reviews are fake 5-star ratings from the company itself. The remainder are 1-star reviews from their victims. They give the same details each time. They were pressured to invest more and more but got nothing back at all when they tried to cash out.

How Do Online Trading Scams Rip People Off?

FinoMarkets broker and others like it promise huge profits with little effort. They use promises like account bonuses that multiply deposits and dangerously high leverage to make investors think they can get ahead.

These practices are banned by most financial regulators for a reason. Once a tempted victim signs up, their account managers push for more and more deposits. If they ever catch on, the broker cuts contact entirely, keeping all your deposited funds.

Does FinoMarkets Have Your Money?

The most effective way to get your money back from an online investment scam is a chargeback. We’re experts at filing successful chargebacks and can help you get your funds back, even in the case of an unregulated broker like FinoMarkets. Reach out now for your free consultation.

What is FinoMarkets?

FinoMarkets is an unregulated online CFD broker that offers a chance to invest in many assets but quickly pulls the rug out and takes off with your funds.

Is FinoMarkets a Scam?

Based on the FinoMarkets reviews we found from their former customers, we’d say they are.

Is FinoMarkets Regulated?

No, they haven’t even bothered to register with one of the shady regulators that sell licenses.

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