BitOptionTrade is an unregulated broker that doesn’t provide any information about licensing. Even worse, it has been flagged as a suspected Ponzi scheme. This type of scheme involves false promises of huge returns from trading when no actual trading takes place. Instead, the money goes in and out of the fake broker’s account. When the broker doesn’t want to grant a client’s request for withdrawal, the Ponzi scheme broker will block them or disappear.
We Have Found Some Problems with BitOptionTrade
One of the hallmarks of a Ponzi scheme is unrealistic promises of huge returns. BitOptionTrade says its clients earn 350% in profits monthly. This is an absurd amount to promise. If this were true, everyone would have heard of BitOptionTrade. Not surprisingly, these guarantees are false. Clearly, BitOptionTrade is not trustworthy and we suggest staying away. Research regulated brokers and open accounts with them instead.
Here Are Some BitOptionTrade 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 BitOptionTrade?
We do not recommend opening an account with BitOptionTradeIf 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.
Midea Investment doesn’t have proof of a license. However, that doesn’t stop this broker from claiming that it is licensed to offer trading services in the UK and EU. To back up this claim, Midea Investmentwould need to show an FCA license, required for any financial services provider in the UK as well as other European licenses. Since Midea Investment doesn’t show any proof of its licensing claims, it is reasonable to suspect they are false. Why? Because regulated brokers almost always provide proof of licensing on their website.
We Have Found Some Problems with Midea Investment
A lack of a license is enough of a problem, but it gets worse. Midea Investment claims that its clients get at least an 85% return on their investments. It is absurd to guarantee this level of a return. Most brokers do not promise specific returns and 85% is unrealistic. Stay away from Midea Investment.
Here Are Some Midea Investment Red Flags:
No transparency
No contact information
False claims
Not regulated
Bad reviews
What Should You Do If You Have an Account with Midea Investment?
We do not recommend opening an account with Midea Investment. 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.
We create these broker reviews to keep people safe. Therefore, we warn against any situations that put your money at risk. CoinsnClub seems to fit the category of a suspected scam. First, it shows no evidence of a license. Unlicensed brokers are risky for consumers because there is little recourse if something goes wrong. Also, in our experience the majority of problems and complaints we receive arrive from people working with unlicensed brokers.
We Have Some Concerns with CoinsnClub
In addition to not having a license, CoinsnClub doesn’t reveal any information about who runs it. Reliable brokers will give names, qualifications and proof of successful outcomes on behalf of clients. Instead, anyone who visits this website is in the dark about who they are trusting their money with. We therefore do not recommend this broker and would instead suggest researching licensed brokers that have a solid reputation. It is never worth taking a chance with any unlicensed broker, even if they offer deals that seem attractive.
CoinsnClub Red Flags
No license
False guarantees
No transparency
Negative reviews
Lost Money to CoinsnClub? Talk to Us!
Our experts understand brokers–reliable ones and scam operations. We have researched brokers and have created these reviews to help consumers make the right choice for trading. We recommend that you avoid CoinsnClub and instead find a reliable and licensed broker. If you have lost money to this broker, contact us and we will help you locate your funds
WapDigisVip is an unregulated broker, and like many unlicensed brokers we examine, has many negative complaints and some reports of sketchy practices. It is unlikely that WapDigisVip is a legitimate broker, if only for the lack of licensing information. However, we have more to go on than that–WapDigisVip has been flagged as a suspected scam. We looked at the matter more closely.
We Have Found Some Problems with WapDigisVip
In addition to lacking any kind of license, WapDigisVip doesn’t disclose who is behind it and the names and credentials of anyone involved. Any reputable broker should provide this information to prospective clients. Additionally, there are no real details about terms and conditions and it is hard to verify its claims of returns for clients. We therefore would recommend staying away from WapDigisVip. Instead, research brokers carefully and sign up with one that is licensed and has a good reputation.
Here Are Some WapDigisVip Red Flags:
No transparency
No contact information
False claims
Not regulated
Bad reviews
What Should You Do If You Have an Account with WapDigisVip?
We do not recommend opening an account with WapDigisVip. 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.
FunCube sounds like a delightful name, but it didn’t create so much amusement for its clients. The reality is, that their false claims are meant to lure people in only to not deliver on these promises in the end. For instance, FunCube says that it is allowed to offer trading services in 180 countries. That is actually impossible. No broker has that many licenses–so clearly FunCube is not being honest here. There are other issues, though, with this broker.
We Have Found Some Problems with FunCube
FunCube doesn’t have a license. That is a major problem, especially since it claims the opposite. Not only is FunCube not regulated in 180 countries, but it may not even have a license at all. In addition, FunCube claims it is the “world’s leading” broker. Most people haven’t heard of it, so it is unlikely that this is true. We would recommend staying away from this broker and looking for a reliable and regulated broker instead.
Here Are Some FunCube Flags:
No transparency
No contact information
False claims
Not regulated
Bad reviews
What Should You Do If You Have an Account with FunCube?
We do not recommend opening an account with FunCube. 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.
WaterCFX is a broker that has no license and reveals very little information about itself. A lack of transparency is usually a sign of other problems. Why would a regulated broker want to be evasive if they are regulated, legitimate, and have a solid reputation? The only reason a broker would want to be evasive is if there is something to hide. What does WaterCFX have to hide? We’ve only scratched the surface, but it’s clear that it’s best to stay away.
We Have Found Some Problems with WaterCFX
One thing WaterCFX may have to hide is that it has no license. It also has plenty of negative reviews about it. There may be other issues that we don’t know about WaterCFX, but there certainly isn’t a reason to trust this broker. Therefore, we don’t recommend that you open a brokerage account with WaterCFX and instead urge you to do in-depth research and choose a broker that is reliable.
Here Are Some WaterCFX Flags:
No transparency
No contact information
False claims
Not regulated
Bad reviews
What Should You Do If You Have an Account with WaterCFX?
We do not recommend opening an account with WaterCFX. 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.
Have you heard of clone brokers? These brokers take on names of legitimate-sounding companies to give a false impression of credibility. FXHourLtd is is a clone broker, but instead of taking a name similar to other brokers, it has adopted a name very close to a well-known app sold on Google Play called FXHours. This app allows forex traders to use automated trading so they don’t miss opportunities in other time zones while they are asleep.
We Have Found Some Problems with FXHourLtd
So FXHourLtd isn’t FXHours. What is wrong with it? The fact that it may be deliberately trying to clone their name is one problem. The other one is that they are not registered. We don’t recommend trusting unregulated brokers, because they provide no guarantee of protection and often are scam brokers. Therefore, we don’t recommend trading with FXHourLtd under any circumstances.
Here Are Some FXHourLtdRed Flags:
No transparency
No contact information
False claims
Poorly written web content
Not regulated
Bad reviews
What Should You Do If You Have an Account with FXHourLtd?
We do not recommend opening an account with FXHourLtd. 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.
TrustfortFX has some very unconvincing web content and makes some claims that are demonstrably false. For instance, they claim to have “world coverage,” which presumably means that they are licensed to offer trading services worldwide. This isn’t possible– a broker would need every license available to claim to offer “world coverage” in 99% of the countries around the globe.
We Have Found Some Problems with TrustFortFX
The web content is very poorly written. That doesn’t sound as if it is much of a problem. However, with our experience researching brokers, very poor web content is usually an indicator that a broker doesn’t have a license and isn’t professional. A broker that has a license shows that they take the time to offer legitimate services. This also means obtaining high-quality web content. In addition, TrustfortFX is an unregulated broker. It’s never a good idea to trade with a broker that doesn’t have a license,
Here Are SomeTrustFortFX Red Flags:
No transparency
No contact information
False claims
Poorly written web content
Not regulated
Bad reviews
What Should You Do If You Have an Account with TrustFortFX?
We do not recommend opening an account with TrustFortFX. 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.
ETH-Banko may put forward many promises, but in the end, they are like many other unregulated brokers–all talk, no proof of legitimacy. They do not show any evidence of a license. In addition, their website has a very low trust rating and there are many complaints about ETH-Banko. That is enough reason to beware. Even though we can’t understand why someone would still trade with a broker who has been flagged and is unlicensed, we examined this broker to see what we could find.
We Have Found Some Problems with ETH-Banko
After looking carefully at ETH-Banko, we have determined that it has been flagged for a good reason. It doesn’t show any licensing information or any reason to believe in claims of outsized returns. We can’t trust a broker that doesn’t provide any information about itself. We instead recommend that you look for a regulated broker that has a solid reputation.
Here Are Some ETH-Banko Red Flags:
No transparency
Fluffy and poor content
No contact information
Not regulated
Bad reviews
What Should You Do If You Have an Account with ETH-Banko?
We do not recommend opening an account with ETH-Banko. 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.
You want to get started trading but have been warned about the many forex scams out there. Fraudulent brokers are no longer as obvious to spot as they once were. That is why we have written this review to alert you that Zilton Capital is on our radar as potentially problematic.
It isn’t just newbie traders that become targets of fraudulent forex brokers. Thanks to technological advances, almost anyone can falsify identities, credentials and licenses and swindle both beginning and advanced traders. We have looked carefully at Zilton Capital and have found numerous inconsistencies and problems that send the message, “Stay away!”
There is a world of difference between expert reviews created by our team with years’ experience investigating investment frauds and reviews by so-called customers you may find on some sites. Many of these reviews are not created by customers, but by employees who want to boost or bust a competing broker’s reputation.
Instead, we are adept at evaluating brokers and have a long track record of alerting the public to potential scams. Many of the brokers we have warned the public about turned out to have been frauds and some are facing criminal prosecution. If you have lost money to Zilton Capital or another trading scheme, contact our experts immediately.
Chargebax is staffed with professionals who will work on your behalf to improve your chances of getting your money back. We have extensive experience with the chargeback process, wire recall, crypto recovery, and intelligence reports and are experts at dealing with all types of scams and winning disputes with merchants and brokers.
The Problem of Scam Brokers
Online trading, along with internet activity in general, has increased dramatically in the past few years. The pandemic, financial insecurity, and more internet activity formed a perfect storm that fueled the online trading trend that has been unstoppable and doesn’t look ready to end anytime soon.
The online trading market is expected to reach $12.6 billion in 2022. With the increased enthusiasm for online trading, more scam brokers pop up. Fraudulent schemes always seem to attach themselves to trends, like forex trading.
We believe that Zilton Capital is taking advantage of customers and providing fake services as a way of taking money from the public. We did not come across Zilton Capital randomly, but used specialized tools to research brokers that have been flagged on suspicion for wrongdoing.
All or some of the following red flags have been raised regarding Zilton Capital
Do These Problems Describe Zilton Capital?
No License
The first thing you should check for before signing up with any broker is if they have a license. It is bad enough when a broker tries to deceive customers with a third-rate license, but not even bothering to get any license at all is a sign of bad faith or at the very least indifference toward their customers.
What would happen if you get into a taxi cab and discovered the driver had no license to operate a vehicle? The only sensible reaction would be to get out of the car. Therefore, if Zilton Capital has no license, if they are falsely claiming to have a license, or if they have had their license revoked, request a withdrawal immediately and contact us.
Offshore License
You might have checked that Zilton Capital has a license and feel secure that they are indeed regulated. However, that could be a false sense of security if it is an off-shore license. As important as having a license is holding a top-rated license. The FCA in the United Kingdom, the SEC in the U.S., and ASIC in Australia are examples of first-rate licenses.
However, so-called regulatory bodies that are not on lists of official regulators issue licenses that are only a fig leaf to cover over dodgy practices. Many fraudulent forex brokers obtain these licenses for a fee, but the regulator does not provide any oversight or protection for customers. If Zilton Capital has an offshore license, do not open an account with them.
Negative Reputation
Not all customer review sites are as trustworthy as expert reviews, but if there is a huge number of negative reviews alleging the same thing, that is not a good sign. If you research Zilton Capital only to be bombarded with reviews from unsatisfied customers and negative news on the web as well as conversations on social media about the broker engaging in shady practices, be warned.
Non-Compliance
If Zilton Capital offers trading services in areas where they are not licensed or does not follow the rules in the region they are operating, they have most likely been flagged for non-compliance. Never trust a broker who bends the rules, because they are not likely to respect their customers any more than they respect the law.
Official Warnings
If a top regulator, such as the SEC or the FCA has warned the public against Zilton Capital, do not take a chance. There are thousands of brokers and the fact that this one name has gotten the negative attention of a government regulator means that there must have been a substantial number of complaints or illegal activities to have warranted this kind of attention. Cross Zilton Capital off your list if they have been the subject of a warning.
If you notice Zilton Capital doing any of the following, contact us to file a complaint.
Unregulated broker
Promises of huge returns
Aggressive manner
No contact information
Very little transparency
Large fees or commissions
Does not allow withdrawals
Stops communication
What If You Have An Account with Zilton Capital?
If you have traded money with Zilton Capital withdraw your money immediately. If Zilton Capital won’t allow you to withdraw your money, seek assistance from Chargebax experts right away.
Chargebax Professionals Will Help You Survive a Forex Fraud
You can increase your likelihood of winning a claim if you have sufficient evidence and the help of our excellent financial service. Chargebax professionals will guide you on preparing your case and will assist you with fund recovery. We have combined decades of experience dealing with hundreds of financial institutions.
