FTrade may seem like a reliable broker, but that is only if you look only at the surface. This broker has been the subject of an FCA warning. It is an alleged clone scam. This means that it has adopted the name, website design or logo of a regulated broker to attract customers and to seem legitimate. Although it actually has a license, this license is from a third-tier regulator that provides no security or oversight.
We Have Found Some Problems with FTrade
We don’t recommend opening an account with FTrade. The FCA warning is one reason. The other is that its license is issued by a third-rate regulator in the Marshall Islands. It may be a nice place to enjoy a vacation, but don’t rely on a Marshall Islands regulator. Fake brokers obtain licenses from regulators like these to try to get around the rules or adopt a veneer of reliability. Don’t trust FTrade’s license.
Red Flags Concerning FTrade:
No transparency
Third rate license
Flagged by the FCA
No contact information
Bad reviews
What Should You Do If You Have an Account with FTrade?
We do not recommend opening an account with FTrade. If you do hold an account with this broker, close it right away and ask for a withdrawal of your funds. If the broker will not allow you to retrieve your funds, talk to ChargeBax professionals right away. We will investigate the matter, track down the broker and your funds, and will help you prepare your claim.
The last thing you need when you are reporting a scam to find the people you are seeking help from are also problematic. That could very well happen if you decide to deal with Scam Consulting SCC. The FCA has issued a warning that Scam Consulting SCC is not licensed to work with UK clients. This is important, since every financial organization in the UK must have an FCA license. This alone makes it clear that Scam Consulting SCC isn’t operating within the legal bounds.
We Have Found Some Problems with Scam Consulting SCC
In our own investigation of Scam Consulting SCC, we found very little information or guidance about its service. There is no transparency about who runs it and no terms or conditions to protect customers. This combined with the FCA warning makes it obvious that Scam Consulting SCC isn’t legitimate. We wouldn’t recommend working with them in any capacity.
Red Flags Concerning Scam Consulting SCC:
No transparency
No license
Flagged by the FCA
No contact information
Bad reviews
What Should You Do If You Have an Account with Scam Consulting SCC?
We do not recommend opening an account with Scam Consulting SCC. If you do hold an account with this broker, close it right away and ask for a withdrawal of your funds. If the broker will not allow you to retrieve your funds, talk to ChargeBax professionals right away. We will investigate the matter, track down the broker and your funds, and will help you prepare your claim.
CapFM.io is a clone broker scam, or at least it seems like it. What is a clone fraud? When an unlicensed broker adopts a name similar to a regulated broker to encourage people to trade with them instead of the real service, that is a clone scam. CapFM.io has been flagged by the FCA for doing this. It is trying to persuade people that it is FCA regulated when it has no license at all.
We Have Found Some Problems with CapFM.io
Look carefully at the names of the brokers you are researching. Ensure they are regulated by a top tier regulated and their license is current. Also double check the name so you don’t get fooled into signing up with a broker with a similar name. Taking your time and checking the details will save you money and keep you safe while trading online with online trading.
Red Flags Concerning CapFM.io:
No transparency
No license
Suspected clone scam
No contact information
Bad reviews
What Should You Do If You Have an Account with CapFM.io?
We do not recommend opening an account with CapFM.io. If you do hold an account with this broker, close it right away and ask for a withdrawal of your funds. If the broker will not allow you to retrieve your funds, talk to ChargeBax professionals right away. We will investigate the matter, track down the broker and your funds, and will help you prepare your claim.
RelyCoin is not true to its name, because you shouldn’t rely on it. Its web content is incomprehensible. Although web content may not be the first thing you would look for in a broker, we have found that incompetently written content and a badly designed site can often indicate other problems. With RelyCoin there is a major problem–it’s unregulated.
We Have Found Some Problems with RelyCoin
We aren’t sure what language RelyCoin thinks it’s communicating in. It uses English words, but many of the sentences make no sense. It offers “Season of Welfare” and asks its customers to “Please contact welfare customer service.” It also promises a “high monthly salary.” No one should be giving up their day job to trade. If they make such a risk, they really will need to contact welfare customer service. The web content isn’t the main problem though–RelyCoin has no license and bad reviews.
Here Are Some CryptoInvestigo RelyCoin:
No transparency
No license
Extremely poor web content
No contact information
Bad reviews
What Should You Do If You Have an Account with RelyCoin?
We do not recommend opening an account with RelyCoin. If you do hold an account with this broker, close it right away and ask for a withdrawal of your funds. If the broker will not allow you to retrieve your funds, talk to ChargeBax professionals right away. We will investigate the matter, track down the broker and your funds, and will help you prepare your claim.
There isn’t much to go on with CryptoInvestigo. We looked at their website carefully, and it is similar to many other cases we deal with. The broker has no licensing information, no transparency about who runs it. They have no independent reviews but many negative reviews. We have discovered this broker has been flagged because of numerous customer complaints. That isn’t a good sign.
We Have Found Some Problems with CryptoInvestigo
Truthfully, we wouldn’t have needed the plethora of negative reviews to justify warning you not to open an account with CryptoInvestigo. Simply not having a license and not telling the public who they are are enough to justify staying away. We are not saying or certain CryptoInvestigo is a scam, but it looks like a lot of the broker frauds we investigate. A reliable broker would provide more information rather than seem to be hiding.
Here Are Some CryptoInvestigo Red Flags:
No transparency
No contact information
Not regulated
Bad reviews
What Should You Do If You Have an Account with CryptoInvestigo?
We do not recommend opening an account with CryptoInvestigo. If you do hold an account with this broker, close it right away and ask for a withdrawal of your funds. If the broker will not allow you to retrieve your funds, talk to ChargeBax professionals right away. We will investigate the matter, track down the broker and your funds, and will help you prepare your claim.
Is a website only skin deep or does it say something significant about the company or broker? We have found that low quality websites and scams often go together. YCoin.Top has a poorly designed website with ungrammatical self-compliments: “The most trusted, secure, fast, reliable…etc..” There is nothing to inspire confidence in any of these statements.
We Have Found Some Problems with YCoin.Top
The FCA has warned that YCoin.Top is a clone scam. In other words, it’s trying to pass itself off as a regulated broker. This is one of the most pernicious types of frauds, because it involves unregulated misleading customers into thinking they offer a reliable service. A warning from a top regulator like the FCA is reason enough to steer clear of YCoin.Top. We recommend you look for another broker to sign up with–make sure they have a solid license.
Here Are Some YCoin.Top Red Flags:
No transparency
Flagged by FCA
Clone scam
Not regulated
Bad reviews
What Should You Do If You Have an Account with YCoin.Top?
We do not recommend opening an account with YCoin.Top. If you do hold an account with this broker, close it right away and ask for a withdrawal of your funds. If the broker will not allow you to retrieve your funds, talk to ChargeBax professionals right away. We will investigate the matter, track down the broker and your funds, and will help you prepare your claim.
Bitethmine not only has an odd-sounding name. Its web content is convoluted and not well-written. For instance, it guarantees “lossless mining” and offers a “liquidity pledge” with a “reward 11 Million ETH.” None of this is clear. “Lossless” is not a word. What is the liquidity pledg? Who gets 11 million ethereum? There is no explanation for these statements. The website offers very few details.
We Have Found Some Problems with Bitethmine
Not only are visitors to the site in the dark about what this broker means by its ambiguous content. We also don’t know who runs Bitethmine and there is no licensing information. There is no reason to trade with this broker, because they don’t give us any reason to trust them. Information and transparency are important considerations when signing up with a broker. Find out as much as you can, but with Bitethmine, you aren’t going to learn very much of anything.
Here Are Some Bitethmine Red Flags:
No transparency
Nonsensical web content
Not regulated
Bad reviews
What Should You Do If You Have an Account with Bitethmine?
We do not recommend opening an account with Bitethmine. If you do hold an account with this broker, close it right away and ask for a withdrawal of your funds. If the broker will not allow you to retrieve your funds, talk to ChargeBax professionals right away. We will investigate the matter, track down the broker and your funds, and will help you prepare your claim.
Lirobit isn’t a licensed broker, but in fact it has no license. It also has no contact information, but plenty of false guarantees. They claim that all traders can expect a certain level of returns. There is no way any broker can guarantee returns, particularly from risky investments, such as cryptocurrency and forex. However, we don’t know who runs Lirobit. The site has a trust rating of just 1%
We Have Found Some Problems with Lirobit
Lirobit is a classic example of a broker that talks a big game, makes people promises and, according to the slew of negative reviews, doesn’t deliver. We never recommend brokers that don’t have a license and aren’t transparent about who runs it. Therefore, we would encourage you to research regulated brokers and choose one that is reliable. It’s important not to rely on what brokers say about themselves, but proven licenses or independent reviews.
Here Are Some Lirobit Red Flags:
No transparency
False guarantees
Not regulated
1% trust rating
Bad reviews
What Should You Do If You Have an Account with Lirobit?
We do not recommend opening an account with Lirobit. If you do hold an account with this broker, close it right away and ask for a withdrawal of your funds. If the broker will not allow you to retrieve your funds, talk to ChargeBax professionals right away. We will investigate the matter, track down the broker and your funds, and will help you prepare your claim.
Hyperion Trust LLC has an attractive website that makes it look like a reliable broker. However, the Swiss regulator FINMA would beg to differ with that assumption. FINMA has blacklisted Hyperion Trust LLC because of false statements that it is registered and licensed to trade on behalf of European clients. In fact, Hyperion Trust LLC has no license at all. This should give you more than a pause for thought before signing up.
We Have Found Some Problems with Hyperion Trust LLC
We don’t recommend trading with unregulated brokers under any circumstances. Without a license, there is no oversight. If something goes wrong the customer can’t take its complaint to a regulator, who has a lot invested in making sure its licensees deliver for clients. Additionally, Hyperion Trust LLC has been flagged by a major regulator. Therefore, we don’t feel that this broker is reliable.
Here Are Some Hyperion Trust LLC Red Flags:
No transparency
No contact information
Not regulated
Flagged by FINMA
Bad reviews
What Should You Do If You Have an Account with Hyperion Trust LLC?
We do not recommend opening an account with Hyperion Trust LLCIf you do hold an account with this broker, close it right away and ask for a withdrawal of your funds. If the broker will not allow you to retrieve your funds, talk to ChargeBax professionals right away. We will investigate the matter, track down the broker and your funds, and will help you prepare your claim.
SNOK Group tries to persuade prospective clients that it is reliable. However, not only is not licensed but has been the subject of a warning by the SFC, the main financial regulator of Hong Kong. In our vast experience researching brokers, we don’t find examples that brokers who have been the subject of warnings turn out to be legitimate. In fact, there is a strong suspicion that SNOK Group is a fraud.
We Have Found Some Problems with SNOK Group
Reliable brokers don’t suddenly merit to have a major financial regulator issue a warning about them. SNOK Group must have done something to arouse this suspicion. We have discovered that has many bad reviews and customers have complained about a variety of problems. The SFC issued a warning against SNOK Group because it was signing up clients without a license. Stay away from SNOK Group.
Here Are Some SNOK Group Red Flags:
No transparency
No contact information
False claims
Suspected Ponzi scheme
Not regulated
Bad reviews
What Should You Do If You Have an Account with SNOK Group?
We do not recommend opening an account with SNOK Group If you do hold an account with this broker, close it right away and ask for a withdrawal of your funds. If the broker will not allow you to retrieve your funds, talk to ChargeBax professionals right away. We will investigate the matter, track down the broker and your funds, and will help you prepare your claim.
