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Day: January 4, 2023

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broker_reviews_manually

Scam Broker Review 5Markets

Want to Trade with 5Markets? Read This First!

If you’ve come across 5Markets, your first question may be “Which 5 markets?” But seriously, this is a broker we’ve heard a lot about–but nothing good. This broker is based in St. Vincent and the Grenadines–a hot bed of unregulated brokers. Scammers go there to get fake licenses so they can claim that they are regulated when they aren’t. This broker has no license, has received multiple complaints by regulators and awful trading conditions. 

Is 5 Markets a Scam or Legitimate? 

We don’t wonder that 5Markets isn’t licensed, since it breaks every rules brokers should follow. It has a second-rate web-based platform, a high minimum deposit, high pips and unfair fees for withdrawals. You shouldn’t have to pay a bundle just to manage your account, but tell that to 5Markets. In addition, 5Markets has been flagged by the SFC of Hong Kong and British Columbia’s BCSC. If regulators have a problem with 5Markets, so should you. 

We Found Problems with 5Markets: 

  • Not regulated
  • Flagged by the SFC and BCSC
  • Negative reviews
  • No transparency. 
  • No contact information

What You Should Do If You Have an Account with 5Markets? 

You should close your account immediately and demand a withdrawal. If you do not receive a withdrawal, contact CryptoCoinTrace experts. We consult with clients, advise them on claims and have the tools and methods to track down your funds. The sooner talk to us, the greater the chances of a successful claim!


Best Website For Identifying Scam Crypto Brokers.

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broker_reviews_manually

Scam Broker Review Trade Alliance LP

Want to Trade with Trade Alliance? Read This First!

Trade Alliance may look good up front. However, it doesn’t take much digging to find problems with this broker. It has a well-designed website, but seems to have terms and conditions. However, it’s dodgy in its claims of licensing. For instance, it says it’s run by a licensed entity. However, there is no proof of the connection between Trade Alliance and regulators and there is no mention that it’s licensed on the FCA website. All UK-based brokers must have an FCA license. This isn’t a good sign. 

Is Trade Alliance a Scam or Legitimate? 

There are some telltale signs that Trade Alliance doesn’t have an FCA license. It offers a dangerously high leverage at 1:500, which isn’t allowed by regulators because of the risk to clients. Trade Alliance also encourages clients to make deposits in cryptocurrency. Many scam brokers prefer crypto because it’s easier for them to anonymously disappear with funds. Also,  Trade Alliance doesn’t offer high quality trading platforms like MetaTrader 4 or 5. 

We Found Problems with Trade Alliance: 

  • Not regulated
  • Negative reviews
  • No transparency. 
  • No contact information

What You Should Do If You Have an Account with Trade Alliance? 

You should close your account immediately and demand a withdrawal. If you do not receive a withdrawal, contact CryptoCoinTrace experts. We consult with clients, advise them on claims and have the tools and methods to track down your funds. The sooner talk to us, the greater the chances of a successful claim!


Best Website For Identifying Scam Crypto Brokers.

File Your Crypto Cointrace Now !

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broker_reviews_manually

Scam Broker Review Prime Coin Invest

Want to Trade with Prime Coin Invest? Read This First!

When it comes to teaching the public about the red flags of crypto scams, Prime Coin Invest checks off every box. Prime Coin is the name of a cryptocurrency produced from solving math problems about prime numbers. First of all, Prime Coin has no license. Not only that, but the FCA has flagged this broker for signing up customers in the United Kingdom without holding a license. Not having a license is a major problem–without regulation, customers have no oversight. 

Is Prime Coin Invest a Scam or Legitimate? 

Prime Coin says it offers advanced trading software, but all it gives customers is its web based platform rather than MetaTrader 4 or 5. It says it has low spreads, but its spreads are 3 which is very high. It also cheats customers by demanding a high deposit at $250, charging high fees for withdrawals and extra if customers haven’t made a minimum number of trades. Also, Prime Coin offers bonuses but only after making minimum trades. 

We Found Problems with Prime Coin Invest: 

  • Not regulated
  • Flagged by the FCA
  • Negative reviews
  • No transparency. 
  • No contact information

What You Should Do If You Have an Account with Prime Coin Invest? 

You should close your account immediately and demand a withdrawal. If you do not receive a withdrawal, contact CryptoCoinTrace experts. We consult with clients, advise them on claims and have the tools and methods to track down your funds. The sooner talk to us, the greater the chances of a successful claim!


Best Website For Identifying Scam Crypto Brokers.

File Your Crypto Cointrace Now !

File A Complaint
Categories
broker_reviews_manually

Scam Broker Review  DiamondFX

Want to Trade with DiamondFX? Read This First!

DiamondFX is an offshore broker that has no license. Its site promises traders huge returns, which is a red flag, since no broker can make guarantees. It’s located in St. Vincent and the Grenadines which is a place scam brokers go to avoid regulation. Financial services located in St. Vincent and the Grenadines are usually trying to avoid following rules, like having sufficient market capitalization and reporting to authorities. 

Is DiamondFX a Scam or Legitimate? 

This broker claims that it offers MetaTrader 4 as a trading platform, but we can’t confirm it because it didn’t appear when we signed up for a free trial. It accepts only credit cards and bitcoin, and doesn’t reveal who is behind this operation. The lack of transparency is a sign of a fraud as are the vague terms and conditions. Instead we recommend that you sign up only with a regulated broker and one that has a solid reputation. 

We Found Problems with DiamondFX: 

  • Not regulated
  • Negative reviews
  • No transparency. 
  • No contact information

What You Should Do If You Have an Account with DiamondFX? 

You should close your account immediately and demand a withdrawal. If you do not receive a withdrawal, contact CryptoCoinTrace experts. We consult with clients, advise them on claims and have the tools and methods to track down your funds. The sooner talk to us, the greater the chances of a successful claim!


Best Website For Identifying Scam Crypto Brokers.

File Your Crypto Cointrace Now !

File A Complaint
Categories
broker_reviews_manually

Scam Broker Review  LibraPros

Want to Trade with LibraPros Invest? Read This First!

One of the first things we discovered about LibraPros is that it has been flagged as a potential scam by the Ontario Securities Commission. Other regulators have also warned the public, since LibraPros has no license. It provides very little information about how the organization runs. It has a web-based platform instead of the high-quality MetaTrader. In addition, LibrasPros has received many complaints from customers. 

Is LibraPros a Scam or Legitimate? 

When customers and regulators complain about a broker, that can’t be a good thing. We don’t recommend trading with any broker that isn’t regulated. Often these brokers live in out of the way places that make it easy for scam brokers to avoid the authorities. However, the worst offenders do get tracked down eventually. Play it safe and don’t open an account with LibraPros. Instead, research licensed brokers and see if they are right for you. 

We Found Problems with LibraPros: 

  • Not regulated
  • Negative reviews
  • No transparency. 
  • No contact information

What You Should Do If You Have an Account with LibraPros? 

You should close your account immediately and demand a withdrawal. If you do not receive a withdrawal, contact CryptoCoinTrace experts. We consult with clients, advise them on claims and have the tools and methods to track down your funds. The sooner talk to us, the greater the chances of a successful claim!


Best Website For Identifying Scam Crypto Brokers.

File Your Crypto Cointrace Now !

File A Complaint
Categories
broker_reviews_manually

Scam Broker Review  Alpha Invest

Want to Trade with Alpha Invest? Read This First!

Alpha Invest may sound familiar. That’s because there are a lot of financial companies with the name “Alpha” in it. Alpha is a specific investing term that is too complicated to discuss here. Suffice it to say, a company that wants to look like they are offering quality investment opportunities may add the word “alpha” to their name. Alpha Invest wants only to create this impression, but it doesn’t provide any real brokerage services to back them up. 

Is Alpha Invest a Scam or Legitimate? 

Alpha Invest’s name is very close to that of a legitimate broker. Alpha Invest is operating a clone broker scam. This means they adopt a similar name to confuse customers so they sign up with the scam broker instead of the real one. The scam version releases very little information about who runs it, no evidence of a license and it makes unrealistic promises. We recommend looking elsewhere. 

We Found Problems with Alpha Invest: 

  • Not regulated
  • Negative reviews
  • No transparency. 
  • No contact information

What You Should Do If You Have an Account with Alpha Invest? 

You should close your account immediately and demand a withdrawal. If you do not receive a withdrawal, contact CryptoCoinTrace experts. We consult with clients, advise them on claims and have the tools and methods to track down your funds. The sooner talk to us, the greater the chances of a successful claim!


Best Website For Identifying Scam Crypto Brokers.

File Your Crypto Cointrace Now !

File A Complaint
Categories
broker_reviews_manually

Scam Broker Review Bullden

Want to Trade with Bullden? Read This First!

Bullden’s site looks nice enough. The content reads well and the graphics are just fine. However, we feel we must warn the public about this broker. Our clients have complained about this broker. We have several different types of complaints, but all of these have been  validated by regulators. After all, the FSMA is a Belgian regulator that has flagged Bullden as a suspected scam. 

Is Bullden a Scam or Legitimate? 

The disturbing aspect about Bullden is that just by looking at the site, we don’t see any problems. They offer a wide variety of trading products, a low minimum deposit, reasonable rates for trading and other advantages. However, we don’t see any evidence of a license and a regulator has issued an alert about Bullden. Also, its software is second rate. Often sketchy brokers urge clients to use their software but this technology is often used to steal data and money from clients. Stay away. 

We Found Problems with Bullden: 

  • Not regulated
  • Flagged by the FSMA
  • Negative reviews
  • No transparency. 
  • No contact information

What You Should Do If You Have an Account with Bullden? 

You should close your account immediately and demand a withdrawal. If you do not receive a withdrawal, contact CryptoCoinTrace experts. We consult with clients, advise them on claims and have the tools and methods to track down your funds. The sooner talk to us, the greater the chances of a successful claim! 


Best Website For Identifying Scam Crypto Brokers.

File Your Crypto Cointrace Now !

File A Complaint
Categories
broker_reviews_manually

Scam Broker Review Pedia Invest

Want to Trade with Pedia Invest? Read This First!

When we work with clients we come across scam brokers with new and familiar names. Pedia invest seems like a strange name. Could they be trying to get people confused with InvestoPedia, a reliable website created to inform people about investing. We noticed that people tried to check out this broker, and they were sent to the Investopedia site. However, our customers gave us more information about Pedia Invest. 

Is Pedia Invest a Scam or Legitimate? 

Pedia Invest doesn’t have a license. That’s the first sign of a dodgy broker. Secondly, it offers only automated software and not real trading advice or actual brokerage services. Our customers say that Pedia Invest is sitting on their money and won’t let them withdraw their money. We suspect there isn’t really trading going on at all. The automated software is probably used just to get client information. We are currently investigating this broker’s activity. If you see this broker, don’t sign up. 

We Found Problems with Pedia Invest: 

  • Not regulated
  • Negative reviews
  • No transparency. 
  • No contact information

What You Should Do If You Have an Account with Pedia Invest? 

You should close your account immediately and demand a withdrawal. If you do not receive a withdrawal, contact CryptoCoinTrace experts. We consult with clients, advise them on claims and have the tools and methods to track down your funds. The sooner talk to us, the greater the chances of a successful claim!


Best Website For Identifying Scam Crypto Brokers.

File Your Crypto Cointrace Now !

File A Complaint
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