FiveStarBit company presents itself as a globally recognized and regulated institution. Yet, they are not brave enough to share legal names or documents. When it comes to the company address, it’s hard to fake it because nobody is willing to test it out.

Anyway, once you find out all the tricks this broker is using, you’ll be safe in many cases. Therefore, make sure you remember all the tips we reveal in this FiveStarBit review.

Legal info: Is FiveStarBit Legit or a Scam?

Since the company presents itself as Swiss-based, our first stopping station is FINMA. That’s the main regulator in Switzerland and is known for strict requirements and quick exposing of scammers. However, this brokerage is not found in the regulatory register, neither is on the warning list. At least not for now.

Without success there, we always choose to check top-tier regulators, such as FCA, BaFin, ASIC, IIROC and CFTC. Practically, wherever you are coming from, these are always safe choices. Still, the results were disappointing, and the company’s license number was not found. 

The last option was to check the CySEC database since the firm claims to be regulated there. Yet, it’s just another lie from this scam firm.

Who are FiveStarBit’s clients?

Through the company’s website, we can see they mention to be active for more than 11 years. Yet, the company’s domain was registered in September 2023. That’s another lie served by them. 

Anyway, if you are coming from the following countries, be careful: 

• Finland
• Sweden
• United Kingdom

Yet, regardless of your country, we encourage you to share your experience with this firm. Ultimately, FiveStarBit reviews can help traders avoid this company’s traps. Also, you can contact us directly if you need advice on a refund.

Traders Reviews

Generally, a few reviews that are available on the Sitejabber platform can’t reveal the truth. Especially when you know the broker is misleading traders about regulations. 

Even though those look quite positive, it’s hard to believe traders have positive experiences with this broker. Anyway, if you experience anything that you find irregular, contact us for consultation.

Leverage, Commissions, Spreads, Fees and Taxes

Important to realize is that this scam broker is quite conservative when it comes to sharing trading conditions. Just briefly, they mention traders can expect spreads from 0 pips on Forex pairs. However, “from” is the keyword there. It’s never that low with unregulated scam brokers.

Regardless of that, traders don’t know the leverage, commissions, or any other trading-related fees. So, why would you trust them with your money?

Bonuses

Unfortunately, the company’s T&Cs, therefore, bonus policy, are not revealed. But if you get any bonus deals, make sure to skip it. But what you shouldn’t skip is our FXleader review.

FiveStarBit Trading Features

As can be seen, the company is promoting some quite shady features. Such as business planning, investment planning, personal wallet creation, and secured transactions. 

Yet, the only thing that is true is that there is a crypto wallet opening. That’s the only way for them to steal money without leaving traces.

Trading Platforms Available

In addition to all these shady features, the company offers a web-based platform. They couldn’t provide a worse option on top of all their flaws. In any case, you can forget about copy trading, social trading, EAs, or any other advanced feature.

Available Trading Assets

Usually, tradeable assets can make a big difference when you are choosing a broker. Yet, if the broker is not legit, that becomes quite irrelevant. Anyway, the company’s offer consists of: 

• Forex – USD/AUD, EUR/HKD
• Commodities – crude oil, natural gas
• Shares – Tesla, Netflix
• Indices – CAC40, S&P500
• Cryptos – ETH, LTC

Account Types

In general, the FiveStarBit account types only reveal some highly questionable features, such as VIP events, no-fee withdrawals, managed accounts, and more. Yet, none of those reveal trading conditions provided to traders. 

Still, they will ask you to deposit for: 

• Basic – $5.000
• Gold – $20.000
• Premium – $50.000

Mobile Trading App

Without FiveStarBit regulation, none of the company’s features matter. If there were any relevant. 

Sadly, the situation is the same when it comes to trading on mobile devices. None of the trusted options are available. So, traders have to go through trouble called “trading via browser.”

Demo Account

Since there’s only FiveStarBit WebTrader available, a demo account would be more than the preferred option. Still, the company doesn’t care about it because they know someone will fall for their scamming tricks. 

But to learn how to avoid those pitfalls, make sure to read our Deltafx review.

Education

One of the key things in trading is knowledge. Therefore, adequate educational programs are a must with top-tier companies. But the ones that just want to scam you will often offer signals, personalized trading alerts, and basic education. Like in the case of the FiveStarBit broker.

FiveStarBit Withdrawal

If you haven’t realized so far that withdrawals practically don’t exist with this broker, nothing will convince you. Still, there are a few more facts you should know. 

Firstly, the company doesn’t reveal withdrawal methods. Secondly, they don’t reveal the withdrawal processing time. Lastly and most importantly, withdrawal fees are hidden. That looks like a recipe for a scam.

Customer Support

Another FiveStarBit scam sign is the company’s support. Apparently, they are offering 24/7 support. But only through e-mail since none of the other options are available. 

However, there’s a hint of what other platforms the company is using. That’s Telegram, primarily due to the app’s encryption features. In any case, don’t raise much hope this broker will respond if you are looking for your money.

Key Information To Consider About FiveStarBit

Everything about this brokerage is suspicious. But the most disappointing thing is that they are lying to be regulated. That’s the only thing you practically need. Everything else can save you in some other cases. Anyway, if you have your funds stuck with this broker, don’t hesitate to reach out to us.

Our first meeting is non-obligatory and completely free. Yet, the information collected is priceless. Don’t wait anymore; contact us today.

FAQ Section

What is FiveStarBit?

FiveStarBit is a broker allegedly registered in Switzerland that has been operating only for a couple of months and not 11 years as they claim.

Is FiveStarBit a Legit Broker?

Absolutely not. Primarily because of bogus lies about regulation. But also because they are hiding key details like conditions, withdrawal procedures, and fees.

What is a Chargeback?

Disputed transactions that result in reversing card transfers are called chargebacks. To get started with yours, send us a message.

0 (0)

Unomi Review 2024 – Is Unomi legit or a scam?

One major problem in the ever-evolving world of online trading and investing is the proliferation of fraudulent companies posing as reliable brokers. Due to alleged fraudulent activity, Unomi has lately gained notice, raising concerns and requiring careful examination. Our goal in providing an unbiased assessment through our thorough Unomi review is to provide verified facts and data that were gathered from reliable and respectable sources.

Unomi claims to be managed by Unomi Innovative Ltd, purportedly registered with the Marshall Islands Registry. However, our search within the IRI yielded no corresponding results.

The reality is that Unomi lacks valid regulation from any authorized regulatory entity for forex operations. Consequently, investors’ funds within this brokerage are at risk and remain devoid of legal protection. Unomi poses a risk to investors’ funds as it operates without regulatory oversight.

Unomi Website – https://unomi.cc/index.php/en/

Website Availability – Yes

Address shown – Marshall Islands 

Warned By – Not recommended by review website like Report Scam

Domain Age of Unomi

Domain Name: UNOMI.CCRegistry Domain ID: 184448482_DOMAIN_CC-VRSNRegistrar WHOIS Server: whois.namecheap.comRegistrar URL: http://www.namecheap.comUpdated Date: 2023-10-19T08:15:35ZCreation Date: 2022-11-18T09:57:18ZRegistry Expiry Date: 2024-11-18T09:57:18Z

Important indicators that show if Unomi is a fraud or not

Unregulated Status

One of the key warning signs highlighted in the Unomi Review that investors should be wary of is the absence of regulation and licensing. Legitimate brokers must acquire licenses from reputable financial regulatory authorities, a critical measure to ensure compliance with strict industry standards and regulations.

Poor Customer Support and Withdrawal Issues

Delayed or refused withdrawal requests are a common tactic used by scam brokers to hold onto their victims’ money and deter them from leaving the site. When funds are unavailable or take a long time to arrive, customers get irate and start to doubt the company’s honesty.

Negative Reviews and Scam Reports about Unomi

The presence of ample negative feedback and scam reports from clients and industry professionals, as emphasized by Unomi Review, is a telltale sign of a scam broker. The existence of negative reviews and reports of scams related to Unomi serves as a red flag for potential investors. Several reports of fraudulent operations, immoral behavior, and financial losses raise doubts about the company’s credibility. Before entrusting their investments to any brokerage firm, potential clients should conduct research and examine the experiences of others with Unomi.

Investors should take heed of negative reviews and scam reports associated with Unomi, as these instances may indicate potential risks and issues that could affect their financial interests. To protect your financial interests, it’s critical to stay knowledgeable and vigilant.

Heightened Risks for Investors

Dealing with unregulated and unlicensed brokers significantly increases the risk of encountering fraudulent practices. The lack of clear regulatory oversight and licensing raises concerns about the broker’s credibility and the safety of clients’ assets. It is imperative to approach such brokers with caution, conducting thorough due diligence to protect your financial interests.

How to Guard Your Investments Against Fraud

Although trading in financial markets such as cryptocurrency, binary options, and forex may be profitable, there are hazards involved such as the possibility of coming across dishonest brokers. A proactive and vigilant strategy is necessary to safeguard your investments against fraudulent businesses and frauds such as Unomi. When interacting with questionable brokers, take into account the following precautions:

• Before engaging a broker, do extensive research on the broker’s legitimacy. Investigate licenses, regulatory status, and track record.
• Check online Unomi reviews, forums, and social media platforms for feedback and experiences shared by other traders. This can provide valuable insights into the broker’s reputation and reliability. You can also check our list of scam brokers 2024.
• Only choose brokers that are properly regulated and licensed by recognized financial authorities.
• Ensure the broker has a physical address and contact details that can be verified.
• Read through their terms and conditions, privacy policy, and risk disclosures to understand their policies and procedures.
• Evaluate the broker’s customer support services before opening an account. Prompt and efficient customer support is essential for addressing queries, concerns, and issues.
• Be wary of brokers that make extravagant promises, such as guaranteed profits or high returns with minimal risk.
• Remember that trading involves inherent risks, and no broker can guarantee consistent profits.
• Review the broker’s withdrawal policies and procedures. Ensure they provide clear and straightforward processes for withdrawing funds.
• Don’t rush into decisions. Take the time to evaluate all aspects of a broker’s legitimacy and make an informed choice.

Traders can lessen their risk of falling victim to Unomi or other scams and preserve their financial assets by following the above mentioned suggestions and keeping cautious. Keep in mind that extensive research and due investigation, such as reading a Unomi review, are critical to ensure a safe and dependable trading experience.

Victimized by the Unomi scam? Get your lost money back!

Get a Free Consultation

If you are the one who got scammed by Unomi or other fraud, the best solution recommended for getting your lost money back is Report Scam Community

We are one of the few legit recovery assistance organizations that are concerned with a victim’s recovery from losses. We are a committed team of Recovery specialists who have already helped hundreds of scam victims in recovering their lost money. Report Scam provides free consultation and anyone can register by filling out a very short complaint form.

Unomi Review: Unomi Scam Conclusion

As the Unomi Review indicates, there are solid indications that Unomi may be a scam, and these worries are tough to dismiss given the characteristics and facts that are often associated with fraudulent organizations. Traders and investors should exercise great caution when selecting a broker, making sure to choose a reputable, licensed, and regulated organization. Ensuring the legitimacy of a broker, seeking objective assessments, and conducting thorough research are all essential measures in preventing fraud and monetary losses.

Also, to prevent yourself from scams like – Forex scams, Binary scams, Romance/Dating scams, Cryptocurrency scams, or any other scams, you should pick a broker or company regulated by some major regulators like FCA, FINMA, SEC, FMA, ASIC, etc. Check the reviews of brokers and also read the policies and terms and conditions.

Read about Chargebacks

To read more about Scam Brokers and their Reviews, Visit Scam Brokers 2024 Page to avoid Cryptocurrency trading scams, Forex trading scams, or other online scams.

Note: The Unomi review written above is influenced by the other Unomi reviews already present on the web. We are not liable for any legal action from the Unomi company. In case of any query please mail us at info@reportscam.net.

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5 (1)

Fx Capitalindex Review 2024 – Is Fx Capitalindex legit or a scam?

One major problem in the ever-evolving world of online trading and investing is the proliferation of fraudulent companies posing as reliable brokers. Due to alleged fraudulent activity, Fx Capitalindex has lately gained notice, raising concerns and requiring careful examination. Our goal in providing an unbiased assessment through our thorough Fx Capitalindex review is to provide verified facts and data that were gathered from reliable and respectable sources.

Fx Capitalindex asserts itself as a dependable company but fails to provide any details regarding its regulatory status. Situated in the United States, our search within the National Futures Association (NFA) yielded no corresponding results.

In reality, Fx Capitalindex lacks valid regulation from any authorized regulatory body for forex trading. Consequently, investors’ funds within this brokerage are at risk and remain devoid of legal protection. Fx Capitalindex operates without regulatory oversight, posing a risk to investors’ funds.

Fx Capitalindex Website – https://www.fx-capitalindex.co.uk/

Website Availability – Yes

Address shown – 3238 Doctors Drive, Los Angeles, California, 90017 USA

Warned By – Not recommended by review website like Report Scam

Domain Age of Fx Capitalindex

Domain name:fx-capitalindex.co.ukData validation:Nominet was able to match the registrant’s name and address against a 3rd party data source on 01-Dec-2023Registrar:Hosting Concepts B.V. [Tag = REGISTRAR-EU]URL: https://www.openprovider.comRelevant dates:Registered on: 19-Aug-2022Expiry date: 19-Aug-2024

Important indicators that show if Fx Capitalindex is a fraud or not

Unregulated Status

One of the key warning signs highlighted in the Fx Capitalindex Review that investors should be wary of is the absence of regulation and licensing. Legitimate brokers must acquire licenses from reputable financial regulatory authorities, a critical measure to ensure compliance with strict industry standards and regulations.

Poor Customer Support and Withdrawal Issues

Delayed or refused withdrawal requests are a common tactic used by scam brokers to hold onto their victims’ money and deter them from leaving the site. When funds are unavailable or take a long time to arrive, customers get irate and start to doubt the company’s honesty.

Negative Reviews and Scam Reports about Fx Capitalindex

The presence of ample negative feedback and scam reports from clients and industry professionals, as emphasized by Fx Capitalindex Review, is a telltale sign of a scam broker. The existence of negative reviews and reports of scams related to Fx Capitalindex serves as a red flag for potential investors. Several reports of fraudulent operations, immoral behavior, and financial losses raise doubts about the company’s credibility. Before entrusting their investments to any brokerage firm, potential clients should conduct research and examine the experiences of others with Fx Capitalindex.

Investors should take heed of negative reviews and scam reports associated with Fx Capitalindex, as these instances may indicate potential risks and issues that could affect their financial interests. To protect your financial interests, it’s critical to stay knowledgeable and vigilant.

Heightened Risks for Investors

Dealing with unregulated and unlicensed brokers significantly increases the risk of encountering fraudulent practices. The lack of clear regulatory oversight and licensing raises concerns about the broker’s credibility and the safety of clients’ assets. It is imperative to approach such brokers with caution, conducting thorough due diligence to protect your financial interests.

How to Guard Your Investments Against Fraud

Although trading in financial markets such as cryptocurrency, binary options, and forex may be profitable, there are hazards involved such as the possibility of coming across dishonest brokers. A proactive and vigilant strategy is necessary to safeguard your investments against fraudulent businesses and frauds such as Fx Capitalindex. When interacting with questionable brokers, take into account the following precautions:

• Before engaging a broker, do extensive research on the broker’s legitimacy. Investigate licenses, regulatory status, and track record.
• Check online Fx Capitalindex reviews, forums, and social media platforms for feedback and experiences shared by other traders. This can provide valuable insights into the broker’s reputation and reliability. You can also check our list of scam brokers 2024.
• Only choose brokers that are properly regulated and licensed by recognized financial authorities.
• Ensure the broker has a physical address and contact details that can be verified.
• Read through their terms and conditions, privacy policy, and risk disclosures to understand their policies and procedures.
• Evaluate the broker’s customer support services before opening an account. Prompt and efficient customer support is essential for addressing queries, concerns, and issues.
• Be wary of brokers that make extravagant promises, such as guaranteed profits or high returns with minimal risk.
• Remember that trading involves inherent risks, and no broker can guarantee consistent profits.
• Review the broker’s withdrawal policies and procedures. Ensure they provide clear and straightforward processes for withdrawing funds.
• Don’t rush into decisions. Take the time to evaluate all aspects of a broker’s legitimacy and make an informed choice.

Traders can lessen their risk of falling victim to Fx Capitalindex or other scams and preserve their financial assets by following the above mentioned suggestions and keeping cautious. Keep in mind that extensive research and due investigation, such as reading a Fx Capitalindex review, are critical to ensure a safe and dependable trading experience.

Victimized by the Fx Capitalindex scam? Get your lost money back!

Get a Free Consultation

If you are the one who got scammed by Fx Capitalindex or other fraud, the best solution recommended for getting your lost money back is Report Scam Community

We are one of the few legit recovery assistance organizations that are concerned with a victim’s recovery from losses. We are a committed team of Recovery specialists who have already helped hundreds of scam victims in recovering their lost money. Report Scam provides free consultation and anyone can register by filling out a very short complaint form.

Fx Capitalindex Review: Fx Capitalindex Scam Conclusion

As the Fx Capitalindex Review indicates, there are solid indications that Fx Capitalindex may be a scam, and these worries are tough to dismiss given the characteristics and facts that are often associated with fraudulent organizations. Traders and investors should exercise great caution when selecting a broker, making sure to choose a reputable, licensed, and regulated organization. Ensuring the legitimacy of a broker, seeking objective assessments, and conducting thorough research are all essential measures in preventing fraud and monetary losses.

Also, to prevent yourself from scams like – Forex scams, Binary scams, Romance/Dating scams, Cryptocurrency scams, or any other scams, you should pick a broker or company regulated by some major regulators like FCA, FINMA, SEC, FMA, ASIC, etc. Check the reviews of brokers and also read the policies and terms and conditions.

Read about Chargebacks

To read more about Scam Brokers and their Reviews, Visit Scam Brokers 2024 Page to avoid Cryptocurrency trading scams, Forex trading scams, or other online scams.

Note: The Fx Capitalindex review written above is influenced by the other Fx Capitalindex reviews already present on the web. We are not liable for any legal action from the Fx Capitalindex company. In case of any query please mail us at info@reportscam.net.

Give this broker a rating

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Average rating 5 / 5. Ratings 1

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The broker seems to catch clients based on their false addresses and fake presentations. When you see an address in Zurich and hear that the company is in a reputable, Tier1 regulated country, it brings certain trust. However, all this is explained in detail in our DoxFX review, so let’s start.

What About DoxFX Regulation?

Claiming to be a brand owned by OICS Limited and based in Switzerland implies that the company is covered with a Tier1 license by FINMA. Of course, instead of blind trust, we decided to confirm this information. It seems that DoxFX regulation doesn’t exist with FINMA or any other regulator in Europe or further. Also, OICS Limited is not a legit Swiss company, so it’s probably another offshore entity hiding its actual headquarters.

Based on everything we’ve discovered, avoiding DoxFX seems like the best solution for your funds.

In addition to the above, we strongly advise you not to invest in TopMarketCap, RTALive and Tixee fraudulent brokers.

DoxFX Scam Warnings

Since the broker falsely claims it’s based in Switzerland, we were not surprised to see that the regulatory body of this country was the first to issue an official warning against the DoxFX scam.�

Besides, Italian authorities noticed DoxFX activities too and issued the same warning, marking the broker as a fraud.

Fund Withdrawal Issues With DoxFX Broker

Since DoxFX pretends to be legit, of course, it will tell you a nice story about withdrawals and funds being available 24/7. In fact, it will all sound so easy that you will see no reason to prevent yourself from investing and earning potential profit

Yet, once you go into everything, you will discover that the whole story was just that. A story. And you will be unable to withdraw your funds or complain to anyone since the broker has no official regulator.

Areas Of DoxFX Scam

Most of the victims of the DoxFX scam come from the US, Germany, and Japan. However, based on regulatory warnings, we can conclude that the company operates in Switzerland, Italy, and most likely other countries of the EEA zone.

It’s important to know that DoxFX provides unregulated financial services anywhere in the world, and you shouldn’t accept any offers coming from them.

Also remember the names of the Tredexo, TNFX and Altman Finance trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

Traders About DoxFX Scam

As we’re sure you can already conclude, DoxFX reviews don’t look good. Traders are massively complaining about withdrawals, stating that getting money back is nearly impossible. Besides, the broker forces clients to install AnyDesk, software used to gain access to any device and online banking.

That’s how funds are being transferred without the client’s approval, which is the ultimate scam level.

How Does Online Trading Scam Work?

If you ever saw any trading ad, you know that everything starts with the broker overpromising results they can’t deliver. And somewhere inside, you are aware that the story is overblown, thinking it’s marketing. Yet, once you leave your details, even the worst story comes, where the company’s employees give you all the logical reasons you should start investing despite your terrible feeling.

And once you do, you will have a great support system until you submit a withdrawal request. This is where all of your problems will start. Your account may even get suspended and you will be unable to access your funds. If you experience something similar, let us know.

Scammed by DoxFX? – Tell Us Your Story

If you were scammed by DoxFX or a similar bogus brokerage, let us know. Our specialists will help you start the chargeback procedure and get your funds back.

But What Is A Chargeback?

A chargeback is a way for your bank to reverse the transaction in case a scam occurs. For further details, contact us via online chat and book a free consultation with our specialists.

Don’t let scammers run free with your money!

What Is DoxFX?

DoxFX is an online Forex and CFD provider without a license.

Is DoxFX A Scam Broker?

Yes, DoxFX has been blacklisted in Switzerland and Italy for conducting scams.

Is DoxFX Regulated?

No, company is not regulated and provides financial services illegally.

Once we saw who the OnyxProfit broker belonged to, we already knew what to expect. However, we decided not to judge too soon and did the entire OnyxProfit review with evidence to back up our statements.

What About OnyxProfit Regulation?

OnyxProfit is a brand owned by notorious Donnybrook Consulting Ltd. Since we’ve written about this firm a lot, we will just remind you of some of the scamming brands it’s running, such as OFXB, ABSystem, EuroFX, and more. All of these brands were blacklisted around the globe for fraudulent activities.

Since Donnybrook Consulting Ltd is from the Commonwealth of Dominica and unregulated, no wonder it doesn’t care just to open and close trading websites, luring clients into scams. If you ever come across this name, run from it as far as you can.

In addition, we strongly advise you not to invest in Elcomercio24, ProAktivMarket and SeaLTD fraudulent brokers.

OnyxProfit Warnings From Financial Regulators

Despite being established this year, OnyxProfit has already earned its regulatory warning. It came from the Italian CONSOB that warned citizens not to fall for this well-organized scheme of a well-known scamming owner.

Fund Withdrawal Issues With OnyxProfit Broker

No wonder clients have reported numerous withdrawal issues. Knowing Donnybrook Consulting Ltd and its brands, OnyxProfit will be yet another scheme that will gather money and disappear. If the firm follows its own pattern, clients who ask for withdrawals will get suspended accounts under many excuses.

Starting with the violations of the company’s policy to unpaid bonuses, account managers will give so many different reasons just to cover what’s really happening – your money is gone, and you will have to file a dispute ever to see it again.

Areas of OnyxProfit Scam

Since the broker has very few limits and doesn’t operate only in the USA, North Korea, Iran, and several other countries, everyone else is at risk. OnyxProfit complaints come from the UK, Netherlands, Germany, Australia, Canada, South Africa, and many other parts of the world.

Beware of the OnyxProfit scam wherever you are, and don’t accept offers coming from this fraudulent trading firm.

Also remember the names of the EuroFX, AvaChoice and OBRinvest trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

Traders About OnyxProfit Scam

As you can guess, OnyxProfit reviews are full of negative impressions. Clients are reporting withdrawal issues, but there are other problems as well. For example, the Web trader has lags, some basic terms such as leverage are undisclosed, and in general, the entire experience turned out to be forcing clients to invest more money.

How Does Online Trading Scam Work?

Different brokers operate differently. However, all of them have in common their wish to extort money and the fact they don’t choose the means to do so. For example, many illicit offshore brokers, such as OnyxProfit, will use false ads that may even include celebrities to present their platform legit.

Yet, once you fall into the trap, you will be constantly asked to invest more without the possibility of withdrawing the funds. 

If you experience something similar, you should file a complaint immediately.

Scammed by OnyxProfit? – Tell Us Your Story

If you were scammed by OnyxProfit or a similar bogus broker, let us know. Our experts are here to listen to your story and help you find the best money-back solution.

But What Is A Chargeback?

This is a way for your bank to reverse fraudulent online transactions with supporting evidence. To understand the process thoroughly, book a free consultation with our specialists via online chat and let us assist you with the matter.

What Is OnyxProfit?

OnyxProfit is an online CFD and Forex trading provider without a license.

Is OnyxProfit A Scam Broker?

Yes, OnyxProfit has been blacklisted by the Italian CONSOB for scams.

Is OnyxProfit Regulated?

Broker is not regulated and provides financial services illegally.

Once we started researching MorganCapFX broker, we found lots of discrepancies. While the website looks entirely professional, and one may think the broker is transparent, the truth is a bit different.

Our MorganCapFX review will show you all the details. Here’s how the scam was perpetrated.

Additionally, we strongly advise you to avoid the fraudulent brokers Robexcoin, Primeinv, and W2W Capital.

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Is MorganCapFX Сrypto Trading Company Legal?

MorganCapFX claims to be a Morgan Capital Management LLP brand registered in the UK. We’re even provided with a UK address – 12 – 13 Henrietta Street, London, United Kingdom, WC2E 8LH.

Upon researching the UK’s House of Companies, we found such a company at the said address. However, this company was incorporated in June 2012 and dissolved in October 2013. Therefore, it’s not an active business and surely not related to the morgancapfx.com broker.

Furthermore, the Terms and Conditions imply that the business has been conducted under Estonian law. As an EU country, Estonia has FI, the financial regulator in charge of Forex and CFD trading providers. As you can guess, MorganCapFX has never entered its commercial register.

Reasons Not to Trust an Unlicensed Broker

Unlicensed brokers cannot be trusted for several reasons. Firstly, if they were running a legitimate business, they would have no problems obtaining a license for it.

As you can see in the example of MorganCapFX, the company owner is false, meaning that starting any legal procedure is quite challenging.

In the end, since the company is not regulated by the FCA, FI, or any other regulator, customers don’t have any money-back guarantee.

Is MorganCapFX a Scam?

MorganCapFX claims to be a UK-based broker operating under Estonian governing law. Furthermore, it doesn’t have any valid financial regulations. The trust score is low, indicating fraud.

What Do Traders Think Of MorganCapFX?

This brokerage has a whole lot of negative reviews. Customers are reporting numerous withdrawal issues. 

MorganCapFX’s employees use AnyDesk, TeamViewer, and similar apps to access clients’ mobile devices or desktops. Through it, they can control online banking and crypto wallets and wipe them off. Make sure to stay away.

What Platform Does MorganCapFX Provide?

Unsurprisingly, MorganCapFX didn’t try too hard about their trading platform. They offer quite basic web-based software already seen with numerous other scammers.

The platform has an asset overview, several charts and indicators, and an option to deposit more funds. If you want to apply any advanced strategies, participate in social trading or have a bot, you won’t be able to do so.

That’s why we always recommend MT4 or MT5. These apps are way superior and more reliable than any internet-based solution.

Access the Account From a Mobile Device

There are no mobile apps. Both Android and iOS users will have to access their accounts through a web browser, which is not a big surprise. Since the brokerage didn’t try to provide any good trading tools, they didn’t think of trading convenience either.

MorganCapFX Accounts Overview

MorganCapFX has 3 account types on offer. They are:

• Beginner – 250 EUR
• Pro – 2,500 EUR
• Expert – 25,000 EUR

The difference is in spread, leverage, and market news and reports you can access.

Welcoming and Refer a Friend Bonuses – Ways to Limit Withdrawals

While broker employees may try to convince you that the company is generous, MorganCapFX’s bonuses are a tool to prevent withdrawals. According to the bonus clause, customers cannot withdraw their funds before reaching a minimum trading volume of 25 times the deposit plus the bonus amount.

This is illegal and outrageous. And that’s why main regulators have banned incentives.

Customer Support – Communication Channels

While appearing as a legit broker, MorganCapFX is far from it. They have provided various emails and phone numbers for their clients. However, none of those are available for direct communication. 

Yet, they can reach you via phone calls, emails, messages, WhatsApp, Telegram, and other means. Once they decide to vanish with your funds, they’ll block your contact and leave you with no information.

MorganCapFX – Countries Of Service

The MorganCapFX trading scam is mainly conducted in:

• Italy
• Spain
• Albania
• Germany 
• UK

Also, avoid the trading frauds Axiance, HubbleBIT, and Absolute Markets at all costs! Moreover, before investing, always look into the past of internet trading firms!

MorganCapFX Range of Trading Markets

Customers can trade in five major markets, those being:

• Cryptocurrencies – BTC, ETH, USDT
• Forex – EUR/USD, AUD/CAD, GBP/ZAR
• Commodities – gold, coffee, cotton
• Stocks – Tesla, Microsoft, Apple
• Indices – NIKKEI225, S&P500, CAC40

Despite the solid-looking offer, bear in mind that this firm is unlicensed.

What Is Known About MorganCapFX’s Trading Conditions?

Trading conditions, mainly spread and leverage, are used to assess trading risks. Regulators in all major jurisdictions have a strict leverage limit of up to 1:50 since handling it poorly can cause monetary losses.

Additionally, spread and swap will determine trading costs. You will lose most of your profit by paying broker commissions if they’re too high.

Too High Leverage and Spreads

The leverage with MorganCapFX ranges from 1:50 to 1:300. It’s way above the regulatory cap.

The spread for the Beginner account starts at 0.1 pips, while the Pro and Expert bring 1.2 and 1.3 pips, respectively. The last two accounts also have trading commissions of 0.2-3.5 EUR per lot.

MorganCapFX’s High Fees – Withdrawal Policy

According to Withdrawal Policy, the broker charges too high fees. Those are $50 for wire transfers and $25 for credit cards with an additional $10 processing fee. 

Additionally, there’s a levy fee of 10% for accounts that don’t reach 200 in a rollover, that being $2 million.

The minimum withdrawal amount is $250 for bank transfers and $100 for other methods, which is quite limiting.

MorganCapFX Minimum Deposit and Deposit Methods 

According to its policy, customers can make a deposit using:

• Debit/credit cards
• Wire transfer

The minimum starting amount is 250 EUR. Knowing that legit firms allow you to start at as low as $10, we don’t see a reason to risk this with this fraudulent scheme.

Scammed by MorganCapFX Broker? – Let Us Hear Your Story

If you were scammed by MorganCapFX or a similar bogus broker, let us know. Book a free consultation with our chargeback experts and we’ll evaluate your case.

Don’t let scammers run with your hard-earned money. Let’s fight for it together!

But What Is A Chargeback?

This is a way for your bank to recover your funds directly from the merchant. If you have any issues, let us know. We’re ready to help you out with the refund process.

What Is MorganCapFX?

MorganCapFX is an online trading brokerage allegedly based in the UK.

Is MorganCapFX a Scam Broker?

MorganCapFX is a scam broker that listed a dissolved company as the official owner.

Is MorganCapFX Available in the United States or the UK?

The company provides its services to UK residents but doesn’t operate in the US.

Does MorganCapFX Offer a Demo Account?

No, MorganCapFX doesn’t offer a Demo account and requires deposits immediately.

You know how the saying goes – clothes don’t make a man and websites don’t make brokers. In the Vestapros Review, we will analyze a crooked scammer that managed to create an appealing website with fumbled content and broken links. Beyond all the errors lies a malevolent scheme. In order to avoid falling victim to this trickery, be sure to read this review.

Also, we recommend you not to invest in the fraudulent brokers Sato4x, Finero and Red Finance Capital.�

Vestapros – Regulated Forex Broker or Scam?

Our little deceitful vigilante got plenty of things wrong on its virtually anonymous website. Let’s address the elephant in the room, shall we? In the legal section, the fraudulent broker started listing financial market regulators without much cohesion and messed up badly. Take a look.

We already got the impression that this con artist is pretty ignorant regarding the matter. First of all, it’s the Financial Conduct Authority (FCA), not the Financial Services Authority.�

Secondly, if listing these authorities was supposed to imply that Vestapros operates under their jurisdiction, then the broker has gone bananas. To elaborate, the NFA, for example, only deals with entities based in the US, not outside its borders. Thus, it’s safe to say that Vestapros is unregulated.�

Vestapros is a fraudulent and unlicensed provider that is allegedly engaged in Forex, Crypto and CFD trading. This anonymous scam broker mainly targets traders from the UK, Australia, France and Belgium.

Why Is Trading With a Licensed Broker Preferable?

As mentioned, there’s no way Vestapros has a real license. Do you really think that such an anonymous broker has EUR 20,000 to cover clients in case of bankruptcy? Also, it’s highly unlikely that this fraudster is cooperating with a Tier 1 bank and storing clients’ funds there.

These are some of the preconditions brokers are required to meet by their respective regulators. Vestapros can only dream about it.

Fraud Warnings From Financial Regulators

There’s no mercy for outright scammers like Vestapros. It’s time to put this fraudster on full blast. Below, we’ve provided links to warnings issued against the broker by several financial markets authorities such as Financial Markets Authority (FMA), Financial Services and Markets Authority (FSMA) and Financial Supervisory Authority of Norway. Serves Vestapros right for trying to defraud traders.

Details About The Vestapros Trading Platform

Vestapros did a good job promoting a completely useless and ineffective platform. Come on, it’s a basic WebTrader, nothing special to see. Aside from some elementary features such as charts, there’s nothing there.

Furthermore, Vestapros denies you access to the platform unless you’ve registered a live account. Pretty shady if you ask us. On top of that, the provider is unlicensed, which eliminates the chances of secure and stable trading. Maybe even trading in general since the platform could also be manipulated to steal your money.

What Сan Be Traded?

Here’s what Vestapros claims to offer:

• Forex pairs;
• CFDs;
• Crypto.

Unsurprisingly, the phony broker was pretty vague in terms of the trading assets. Forex pairs, ok, we can guess what we’re getting, but CFDs? On what? Stocks, gold, coffee, crude oil, S&P 500? Crypto’s also undisclosed. We were left in the dark. We’re traders for cry’s sake, not Daredevil.

AnyDesk and TeamViewer – Access To Your Bank Account�

Picture this – Vestapros has gained access to your personal files on your PC. Data on your bank account is in the scammer’s hands. Enough, you get the point.�

That could turn into reality if you allow the broker to access your PC via AnyDesk and TeamViewer. These two apps allegedly serve as customer support but are really just means to defraud you.

Vestapros – Countries Of Service

From what we’ve gathered, Vestapros has a nick for traders from the following countries:

• Australia;
• France;
• Belgium;
• UK.

Fortunately, two of the four financial market regulators have issued warnings against the fraudster. Now, we hope it reaches traders in time. If you’ve been contacted by this scammer, be careful!

Also, avoid the trading frauds Tradereview, ImportCapital, and XTB Global at all costs! Moreover, before investing, always look into the past of internet trading firms!

Vestapros Account Types

This section on the website was messy but we managed to pick these types out:

• Bronze – $10,000;
• Silver – $25,000;
• Gold – $50,000;
• Premium – $100,000;
• Platinum – $250,000.

The scammer goes on about additional features, blah, blah. It’s all irrelevant given that the minimum deposit is a staggering $10,000. Vestapros is out of its scamming mind! No legitimate broker would demand that much.

About Leverage, Spreads, and Fees

Here’s the problem. The key aspects of trading were not revealed. We found in the legal section that the leverage caps at 1:300, well above the legal limit of 1:30 for retail clients. Spreads and fees will apparently remain unknown like the trading instruments. It seems that everything regarding Vestapros is vague.

High Minimum Deposit and Withdrawal Terms

As for the payment methods and terms, the minimum deposit, $10,000, is extremely overwhelming to even consider investing. The commission? 20%! Can you imagine? Withdrawal fees also won’t do you good.

From this, we conclude that the payment methods include credit/debit cards, wire transfers and e-payments. However, the last method was not specified.

Scammed by Vestapros Broker? – Let Us Hear Your Story

Being a victim of this scheme must feel terrible. Don’t despair, dear trader, there’s light at the end of the tunnel. By that, we mean two ways of getting a refund – a chargeback and a recall. Your chances may be slim but we recommend you try. In any case, we can help make things better by reporting the scammer.

But What Is A Chargeback?

• A chargeback is used to reverse credit/debit card transactions.
• It can be requested at the issuing bank within 540 days.
• A recall is the same thing but for wire transfers.
• If the transaction has been completed, the recall is bound to fail.

What Is Vestapros?

Vestapros claims to be a legitimate provider engaged in Forex, crypto, and CFDs trading.

Is Vestapros a Scam Broker?

Vestapros is indeed a scam broker because it’s anonymous, shady and most importantly, blacklisted.

Is Vestapros Available in the USA or the UK?

Broker Vestapros is available in both the United Kingdom and the United States.

Does Vestapros Offer a Demo Account?

The broker Vestapros does not offer a demo account anywhere on its website.

What we have here is a controversial offshore scheme that’s been present for some time now. While this scammer may be ahead of its peers in some aspects, it’s still nowhere near a legitimate provider.

Therefore, we have to outline the dangers one may face. Read about this offshore hoax in the Equinox Markets Review.

Also, we recommend you not to invest in the fraudulent brokers Bitsterzio, Lamelle Financial and Stam Capital Invest.

Is Equinox Markets Scam or a Safe Broker?

Equinox Markets, run by Equinox Markets Limited from Saint Vincent and the Grenadines (SVG), is not a legitimate Forex provider at all. The notorious den of thieves known as SVG is the island of many scams.

SVG’s Financial Services Authority does not regulate the Forex market, meaning Equinox Markets is basically unlicensed. As for the fake UK address and NFA certificate, a few clicks were enough to debunk those claims.

Equinox Markets is an offshore provider from SVG and definitely not a UK-based broker. This is a fraud promising Forex, crypto and CFD trading to traders from the US, Switzerland, Canada and Vietnam.

Arguments For Trading With a Licensed Broker

To recap – Equinox Markets is not a UK or US broker since it isn’t registered with the respective authorities. That implies that the scammer operates under no jurisdiction other than its own.

Equinox isn’t obliged to have a considerable operating capital (730,000 GBP in the UK or 20,000,000 $ in the US). Also, clients aren’t guaranteed negative balance protection, segregated funds, a compensation scheme, transaction reporting and leverage restriction.

A Warning Against Equinox Markets

It seems that this vile offshore broker found its way to Asian traders. Malaysia, to be more specific. However, the Malaysian Securities Commission (SC) issued a warning against Equinox Markets on March 28, 2022. Let’s hope traders notice it in time.

Equinox Markets’ Trading Platform – Available Trade Software

According to Equinox Markets’ website, the shady broker offers two different platforms. We found that the platforms in question are cTrader and WebTrader.

As per various sources, we discovered that Equinox Markets used to offer Meta Trader 4 but suddenly switched to the two aforementioned platforms. Yet another indicator that this is a shady scam – why would someone stop offering MT4, one of the best software in the game?

cTrader 

cTrader is a high-speed, deep liquidity platform designed for day traders, scalpers, and algorithmic traders. The interface is easy to use and the charting, functionality and market depth aspects arguably surpass that of MT4.

Nevertheless, we highly doubt that an unlicensed offshore broker such as Equinox Markets offers a legit version of cTrader.

WebTrader

Equinox Markets also offers a browser-based platform known as WebTrader. This is more plausible. WebTrader is essentially a platform that lacks advanced tools and options.

It offers some basic charts and TA indicators. Beginners could find this convenient but even they ought to outgrow it quickly.

What Financial Instruments Does The Platform Include?

When it comes to trading instruments, Equinox Markets included the classic selection. Namely, clients have access to Forex pairs, crypto assets and CFDs on indices, stocks & commodities. It’s a pretty wide range of instruments. But, don’t forget that this broker is unlicensed.

• Forex pairs – EUR/USD, AUD/CHF, GBP/CAD…
• Indices – FR40, DAX30, IBEX35…
• Commodities – gold, natural gas, wheat…
• Stocks – Microsoft, Netflix, BMW…
• Cryptocurrencies – BTC, LTC, DSH…

Areas Of Equinox Markets’ Scam

If you’re wondering where this scammer looks for victims, you could use a list. We did the research and found out that Equinox Markets was active in the following countries:

• The US;
• Canada;
• Switzerland;
• Vietnam.

Per similarweb.com, Equinox Markets was busy in Vietnam in December 2022 with a total of 9,400 visits to the scammer’s website. Furthermore, since the Malaysian SC issued a warning against this con artist, we could add that country to the list too. 

Additionally, we strongly advise you to avoid the fraudulent brokers Invest Think, Fin Art Media, and EUFinance.

Equinox Markets’ List of Account Types

Equinox Markets offers three different account types, named after planets. Here’s a quick list of the types and minimum deposits required for each of them:

• Mercury – 1,000 $;
• Saturn – 10,000 $;
• Pluto – 25,000 $.

Spreads range from 2.5 pips to 0.75 pips depending on the type. Given that the industry’s standard is around 1.5 pips, the Mercury account is simply too expensive for such unfavorable conditions. Commissions weren’t disclosed.

As for the leverage, all accounts have the same cap – 1:500. Typical of offshore providers. Such high leverage is prohibited in all regulated countries such as the UK, US, EU states, etc. The limit for retail clients is 1:30-1:50 to prevent catastrophic losses.    

Equinox Markets’ Demo Trading Account

Yes. Clients can test things out using a free demo account. However, scammers sometimes allow this. It can only mean patience on their part. Don’t be deceived by the fake courtesy of Equinox Markets, the broker is still unlicensed to provide Forex services.

Promotional Types Equinox Markets Provides

Equinox Markets offers a variety of benefits in form of promotions. These include perks such as zero commissions, trading bonuses, a 20% extra profit, oil rallies, etc.

However, it’s all just a ruse to entice potential or existing clients and draw them further into the malevolent cyber scheme. The scammer uses all the means at its disposal.

Equinox Markets’ Deposit & Withdrawal Procedure

The minimum deposit for Equinox Markets is 1,000 $. Payment methods include the traditional option – credit/debit cards, as well as crypto assets and various Asian e-wallets. 

Credit/debit card deposits are subject to a 4% fee. The withdrawal processing time is allegedly from two to seven business days but we doubt there will be any withdrawals.

Equinox Markets Broker Scammed You? – Please Tell Us Your Story

That’s it for this review. We could use your help if you’ve been scammed so please lend us a hand in bringing down this terrible cyber scam.

Don’t worry, we won’t desert you without telling you about possible methods of getting a refund. Of course, we’re willing to go through the whole process with you so give us a call!

What Is the Chargeback Procedure?

• Credit/debit card transactions can be reversed via chargeback.
• A chargeback can be requested at the issuing bank within 540 days.
• Crypto transactions must first be traced to a wallet within an exchange before requesting a refund.
• If you’ve deposited via e-wallet, you’ll have to contact the wallet’s owner company.

If you need help with chargebacks, book a free consultation with our chargeback specialists who will help you to regain your money.

What Is Equinox Markets?

A controversial offshore scam broker based on the island of Saint Vincent and the Grenadines.

Is Equinox Markets a Scam Broker?

Yes. Aside from being blacklisted in Malaysia, the broker is unlicensed to provide Forex trading services.

Is Equinox Markets Available in the United States or the UK?

Unfortunately, yes. Equinox Markets is available in the US and the UK, but unauthorized to operate in both countries.

Does Equinox Markets Offer a Demo Account?

Yes. There’s a free demo account available on the website.

If you check out the Topshark.co website, you’ll notice that there’s no legal documentation available. Thus, we had to do some additional digging and discover the dark side of this platform.

Bear with us as we expose the fraudulent scheme behind this alleged Forex and CFD online trading platform in our Topshark.co Review. Learn how you can recover your funds from cyber con artists.

Legal Info: Is Topshark.co Regulated?

As mentioned, Topshark.co did not reveal anything in terms of the company’s legal background. After doing our own research, we found out that the British Columbia Securities Commission (BCSC) issued a warning against the platform on August 8, 2023. 

The Canadian regulator states that “TopShark claims to have an office in Toronto, Ontario… TopShark is not registered to trade in, or advise on, securities or derivatives in BC.” About a month later, the Italian COSNOB also flagged the dubious broker as an unauthorized entity.

Therefore, you definitely shouldn’t be trading with Topshark.co. In order to get security benefits such as negative balance protection, segregated funds, or even a compensation scheme, you should find a regulated provider operating under a recognized financial authority such as the FCA (UK), ASIC (Australia), or the CFTC & NFA (US). 

Who Are Topshark.co’s Targets?

According to godaddy.com/whois, the topshark.co.com website domain was created on March 22, 2023. Since then, the anonymous trickster has mainly been targeting unsuspecting traders who reside in the following countries:

• Canada;
• Italy;
• Turkiye;
• Azerbaijan.

Fortunately, Canadian and Italian financial market watchdogs have reacted to the cyber threat and issued warnings against the financial swindler to their local traders.

Topshark.co is not compliant with the regulations in force in these states. For instance, the fraudster’s maximum leverage can be set as high as 1:500 whereas in the EU, the legal cap for retail clients is 1:30, and in Canada, it’s 1:50.

Trader Reviews – Sharing Experiences

We looked up the broker’s website on scam-detector.com where it received a risky trust index of 42.1 due to pretty low website traffic. As for trader reviews, we found nothing but a few complaints against the platform.

Two negative reviews can be found on sitejabber.com and one on trustpilot.com. It seems that Topshark.co has indeed been using crooked tactics to dupe traders, just like Coin2FX did. 

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

Need help finding the perfect platform? We offer our professional assistance!  

Which Trading Platforms Are Available?

Topshark.co offers a web-based trading platform. We had the opportunity to preview the platform and it doesn’t look special at all. There are some basic charts, indicators, and graphs, which beginners may find easy to comprehend, but advanced tools are missing.

The platform supports popular trading assets such as Forex currency pairs, indices, commodities, stocks, cryptocurrencies, ETFs, and cannabis. We wanted to try out trading but in order to get a free demo account, you first have to contact the broker’s team. That’s quite an unusual condition.

Nevertheless, we don’t recommend lackluster web platforms that are easily susceptible to manipulation. Trading is much better with proper third-party software such as MT4, MT5, or cTrader.

Available Account Types

As you can see, the minimum deposit requirements are through the roof. Risking 10,000 USD on unregulated platforms will cause major stress. There are plenty of licensed brokers that will charge you much less for a live account.

What’s even worse is investing a lot of money in a high-leverage platform. That is not real trading with a methodical approach, that’s pure high-stakes gambling.

Leverage, Spreads and Commissions

Topshark.co offers significantly high leverage, which can scale up from 1:100 to 1:500. It can be used to amplify profits but also losses. If the market starts moving rapidly against you, you’re pretty much done.

On the trading platform, we saw that the spread for the EUR/USD benchmark Forex pair was around 1.2 pips, which is decent but still cannot compensate for the fact that Topshark.co is unlicensed. 

As for the trading fees, the commissions range from 6% to 3%, presumably per trading lot. The phony forgot to mention that.

Withdrawal Process

According to the website, Topshark.co listed the following payment methods that can be used to deposit and withdraw funds:

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

There’s a discrepancy regarding the minimum deposit requirement; the FAQ section says 250 USD while the Basic live account costs a minimum of 9,999 USD. 

The deposit and withdrawal fees were not disclosed on the website. It’s highly unlikely that the scammer will actually allow you to withdraw funds or fulfill your refund request. Such issues are typical of unlicensed platforms like Topshark.co and LQDFX. 

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

Key Facts To Consider About Topshark.co

To recap, Topshark.co is an anonymous scam broker, claiming to have offices in Canada. This platform has been illegally offering services mainly to traders from Canada, Italy, Turkiye, and Azerbaijan.

We strongly advise you to avoid this platform because it was blacklisted by the BCSC and CONSOB. In case you’ve already deposited funds, you must seek our professional help to get your money back!

Use the form below to 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

What Is Topshark.co?

Topshark.co is an anonymous Forex and CFD online trading platform with no legal license.

What deposit options are available at Topshark.co?

Topshark.co accepts deposits via credit/debit cards, wires, and e-wallets. If you need help getting your money back, call us.

Is Topshark.co Regulated?

No, the broker isn’t regulated. In fact, the BCSC and CONSOB issued warnings against the platform.

As can be seen, AUSFOREX company has been operating as AUS Capital LTD. Most importantly, they have been present since 2003. But there’s a catch with numerous brands presenting themselves as AUSFOREX.

That’s why it’s very important to diversify those, and in this AUSFOREX review, we will analyze ausforex.com. If you want to avoid some investment scams, make sure to read our Kockcom.cc review as well.

Legal info: Is AUSFOREX Legit or a Scam?

Since the company presents itself as UK-based, our research is way easier than usual. Simply, we just check the FCA database, and voila. You realize that this firm can’t be trusted. Firstly, because they are no longer registered as appointed representatives.

Not only that. No other top-tier regulatory database holds records of this firm being licensed, especially not by regulators in countries where they operate the most.

Who are AUSFOREX’s Victims?

Surprisingly, AUSFOREX reviews practically don’t exist. This is quite odd for a company that has been active for so long. Therefore, we’ll have to rely on the company’s traffic, which is quite shocking. 

It appears that most of their clients come from: 

• Australia
• United Arab Emirates
• United States
• United Kingdom
• Germany
• New Zealand

Yet, none of the regulators from these countries have ever issued a license to ausforex.com. Therefore, if you are experiencing any trouble in trading with this broker, feel free to contact us for advice.

Leverage, Commissions, Spreads, Fees and Taxes

If the AUSFOREX broker was legitimately regulated anywhere, they wouldn’t offer a leverage of up to 1:500. That’s a clear sign traders should avoid the broker unless they are professional traders.

For accounts that don’t include commissions, traders can expect above-the-average spreads starting from 2 pips. However, if they want lower spreads, they’ll have to pay hefty commissions of $10 per lot. Not something comparable to some top-tier companies.

Bonuses

On the positive side, AUSFOREX trading company doesn’t offer any bonus deals. These are often easy bait to make traders deposit more money. But also, prevent them from withdrawing the same. 

To see some more tricks in action, read our Finap Limited review.

AUSFOREX Trading Features

Important to realize is that the company offers a wide range of advanced features, such as Expert Advisors, numerous technical analysis options, and, most importantly, platform security. Yet, those things shouldn’t be the only metric. 

There are far more important details you should consider about the AUSFOREX scam broker.

Trading Platforms Available

Even though the company is offering highly trusted Meta Trader 4, there are a few things you should know. Firstly, such a platform can’t make the broker trusted. 

Also, the platform covers a lot of trading options, and it’s quite easy to attract new traders. But if you have a withdrawal problem, do you think that platform will mean anything to you?

Available Trading Assets

On top of all the benefits, the company also offers a vast of tradeable instruments. But also, that becomes irrelevant if you can’t withdraw the funds. Anyway, the offer is quite solid and consists of:

• Forex – USD/EUR, AUD/SGD
• Commodities – gold, crude oil
• Indices – DAX30, CAC40
• Shares – Tesla, Microsoft
• Cryptocurrencies – BTC, ETH

Account Types

As mentioned earlier, traders can choose between accounts that include or don’t include commission. Those are: 

• STP
• ECN

For both of these, you’ll have to set aside at least $1.000 to get started. That’s way higher than the industry average and especially than the starting amount for some Tier 1 licensed firms.

Mobile Trading App

One of the great things about MetaTrader 4 is that it provides highly reliable, fast, and easy-to-use mobile apps. Also, it’s available across all platforms. 

That’s why traders, in general, opt for these platforms. Still, does that mean anything if the broker is not reliable?

Demo Account

A rarely positive thing about the AUSFOREX platform is a demo account availability. Even though that’s a standard MT4 package, some brokers opt not to offer it. 

While keeping in mind the AUSFOREX minimum deposit requirement, this might be a suitable option before deposit.

AUSFOREX Withdrawal

One of the first potential withdrawal problems can be expected because of missing policies. The company doesn’t clearly state withdrawal fees and processing time. But even if they did, everything would be questionable due to shady regulatory status.

After all, shouldn’t they have some reviews if they were any close to legit? That’s one thing traders must consider before investing with any broker. If there are too many discrepancies, there’s no reason to believe that withdrawals will be clean.

Customer Support

As can be seen, the company is promoting its 24/7 customer support for its customers. The only available contact options are e-mail and live chat. Which is not something you could see as the only option with regulated brokers. They would offer at least a call center phone line.

Key Information To Consider About AUSFOREX

Primarily, the company has been operating with quite suspicious trading conditions. First of all, leverage of 1:500. That’s a clear sign that European regulators like FCA, BaFin, or CySEC do not regulate them. On top of that, the company lacks credibility and user-experience reviews. Yet, they present themselves as a brokerage established in 2003.

All in all, there are much better options available than this broker. Be wise and invest your money patiently. Otherwise, rushed decisions might cost you. 

In any case, we invite you to share your experience with this broker with us. Ultimately, our team can advise you on any withdrawal-related problem and guide you even through the refund process if necessary.

FAQ Section

What is AUSFOREX?

AUSFOREX is a broker trying to present itself as a brand of a top-tier licensed firm called AUSPrime.

Is AUSFOREX a Legit Broker?

No. After all, the company is not licensed and its services include risky conditions without funds protection measures.

What is a Chargeback?

Disputed and reversed card transactions are called chargebacks. If you need assistance with it or any other refund method advice, contact our chargeback team.