Day: March 30, 2023

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scam reviews 2023

ExploreCoinIndex Broker Review

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ExploreCoinIndex

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Do You Want to Know If ExploreCoinIndex Is Legitimate or a Scam Broker? 

What would we say about a broker who claimed to have four licenses they don’t have and never had? That seems pretty bold. A broker has to have some serious stones to do something like that. However, the same broker doesn’t have the nerve to hire a copy editor or simply have someone who knows English look it over. That may seem petty, but sometimes noticing formatting awkwardness or bad grammar can indicate deeper problems–at the very least it shows a lack of professionalism. 

There Are Some Problems with ExploreCoinIndex

This quadruple-licensed broker has a web page beginning with “Invest in the most popular marketholding potential and earn huge” earn huge what? The rest of it doesn’t make sense either. Ironically, the rest of the site didn’t look bad. However, we noticed a warning from the SEC that demonstrated that its licensing claims are false. We aren’t surprised that ExploreCoinIndex isn’t what they say they are. 

Red Flags that ExploreCoinIndex Could Be a Scam Broker

  • False claims about licensing
  • Warning from the SEC
  • Poor site content and grammar
  • No transparency
  • Bad reviews

If You Need Fund Recovery from ExploreCoinIndex, Talk to Us

We create these reviews to warn consumers about brokers and schemes that may be fraudulent. If you have an account with this broker close it and request a withdrawal. If you are not given your money back, contact Broker Complaint Registry right away. We will consult with you, work to track down your funds and create investigative reports, and will assist with fund recovery efforts.

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scam reviews 2023

FXCryptoInvestment Broker Review

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FXCryptoInvestment

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Do You Want to Know If FXCryptoInvestment Is Legitimate or a Scam Broker? 

Usually, we’d expect if a broker no longer has a website, there is probably a dodgy story connected with it. Unfortunately, broker scams can have a new lease on life on social media. This is the case with this Instagram trading fraud– FXCryptoInvestment. Instagram focuses on images rather than text, so it’s easy for brokers to imply what kind of lavish lifestyle traders can look forward to. Some of these testimonials are red flags in themselves. One person wrote, “I zeroed (sic) my mind that I was going to get scammed.” she claimed she received $3,000 the same day. 

There Are Some Problems with FXCryptoInvestment

FXCryptoInvestment promises people they can make $10,000 or more a week or a month. Obviously, they have no license, no real identities, and no explanation of how this is possible. On Instagram, there is a picture of an attractive woman, and that is obvious enough for a lot of people. This broker has certainly been flagged as nothing more than a scam. 

Red Flags that FXCryptoInvestment Could Be a Scam Broker

  • No license
  • False promises of returns
  • No transparency
  • Misleading statements
  • Bad reviews

If You Need Fund Recovery from HostFX, Talk to Us

We create these reviews to warn consumers about brokers and schemes that may be fraudulent. If you have an account with this broker close it and request a withdrawal. If you are not given your money back, contact Broker Complaint Registry right away. We will consult with you, work to track down your funds and create investigative reports, and will assist with fund recovery efforts.

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scam reviews 2023

Global Merger Arbitrage Partners Broker Review

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Global Merger Arbitrage Partners

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Do You Want to Know If Global Merger Arbitrage Partners Is Legitimate or a Scam Broker? 

Mergers and acquisitions are complex, and companies should be sure that they have the best people on hand to ensure success. We don’t know why a company would entrust its future to an unlicensed mergers and acquisitions company, but we’ve seen stranger things. Global Merger Arbitrage Partners claims to have been around since 1993. However, in all that time, it hasn’t managed to secure itself a license or fix its website. 

There Are Some Problems with Global Merger Arbitrage Partners

We suspect whoever is really behind Global Merger Arbitrage Partners hasn’t really been in this business for close to 30 years. Instead, it’s most likely a clone of a legitimate firm. The SEC is onto this fake firm (is a fake firm called a floppy?). The SEC has exposed the fact it has no license. Its website formatting elicits a cringe from anyone who looks at it. Also, there are no names of people in this firm. Obviously this sis a hoax. 

Red Flags that Global Merger Arbitrage Partners Could Be a Scam Broker

  • No license
  • Warning from the SEC
  • Poor site formatting
  • No transparency
  • Bad reviews

If You Need Fund Recovery from Global Merger Arbitrage Partners, Talk to Us

We create these reviews to warn consumers about brokers and schemes that may be fraudulent. If you have an account with this broker close it and request a withdrawal. If you are not given your money back, contact Broker Complaint Registry right away. We will consult with you, work to track down your funds and create investigative reports, and will assist with fund recovery efforts.

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scam reviews 2023

GoSwings Broker Review

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GoSwings

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Do You Want to Know If GoSwings Is Legitimate or a Scam Broker? 

When we were alerted about a broker called GoSwings operating with a fake license, we had to sift through a lot of golfing sites. However, it wasn’t too difficult to find mention of GoSwings on the SEC website–not only do they offer trading without proper licensing, but they have a counterfeit license. It claims to have a trading license issued by CySEC. However, we checked the CySec site and they aren’t listed. In addition, other regulators have called GoSwings bluff. 

There Are Some Problems with GoSwings

We aren’t surprised that GoSwing’s license is fake. For one thing, on its “regulation” page it says it is a licensed Cyprus company. That isn’t the same as having a CySEC trading license. Also, its minimums for accounts are in the thousands of euro–this is highly unusual. Its leverage is way too high for a legitimate broker. Best of all, GoSwings claims it is an award-winning platform, but these awards don’t exist. It’s like a World’s Greatest Dad t-shirt. 

Red Flags that GoSwings Could Be a Scam Broker

  • Falsely claims to have a CySEC license
  • Warning from the SEC
  • Fake awards
  • Dangerously high leverage
  • No transparency
  • Misleading statements
  • Bad reviews

If You Need Fund Recovery from GoSwings, Talk to Us

We create these reviews to warn consumers about brokers and schemes that may be fraudulent. If you have an account with this broker close it and request a withdrawal. If you are not given your money back, contact Broker Complaint Registry right away. We will consult with you, work to track down your funds and create investigative reports, and will assist with fund recovery efforts.

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scam reviews 2023

Horizon FXPro Broker Review

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Horizon FXPro

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Do You Want to Know If Horizon FXPro Is Legitimate or a Scam Broker? 

We ran into a lot of brokers with the name “Horizon” in the name. However, we finally located this specific broker–Horizon FXPro. This broker isn’t shy about offering all kinds of bonuses and making guarantees. This is an obvious sign of a potential scam. It has a dangerously high leverage–up to 1:1,000 and is located in St. Vincent and the Grenadines–a place where there is no real oversight of financial services. 

There Are Some Problems with Horizon FXPro

HorizonFXPro has been the subject of many warnings by regulators around the world such as CONSOB and CNMV. These brokers offer the riskiest type of trading assets like forex and crypto. It uses Webtrader, a web-based platform rather than MetaTrader–the most reliable type of trading platform. This broker has so many red flags, there is no reason to open an account with them. 

Red Flags that Horizon FXPro Could Be a Scam Broker

  • No license
  • Flagged by CONSOB and CNMV
  • Dangerously high leverage
  • No transparency
  • Misleading statements
  • Bad reviews

If You Need Fund Recovery from Horizon FXPro, Talk to Us

We create these reviews to warn consumers about brokers and schemes that may be fraudulent. If you have an account with this broker close it and request a withdrawal. If you are not given your money back, contact Broker Complaint Registry right away. We will consult with you, work to track down your funds and create investigative reports, and will assist with fund recovery efforts.

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scam reviews 2023

HostFX Broker Review

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HostFX

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Do You Want to Know If HostFX Is Legitimate or a Scam Broker? 

HostFX may have a website that has several inspirational phrases on it, but that’s all this broker is likely to give you. They may claim to offer typical brokerage services, but they don’t offer any proof of licensing. The SEC has flagged this broker for not having a license. This is a serious problem because, without a license, there is no way a broker will protect their customers. 

There Are Some Problems with HostFX

In addition to these problems, we saw some serious alerts online about HostFX. Apparently, it has decided that it has a license to operate in the UK (it doesn’t, in fact) because there is a similar address, although with the UK at the end that has been taking money from clients and refusing to grant withdrawals. It isn’t uncommon for fake websites to spin themselves off and vary their addresses slightly. 

Red Flags that HostFX Could Be a Scam Broker

  • No license
  • Warning from the SEC
  • Apparently has a fake UK site
  • No transparency
  • Misleading statements
  • Bad reviews

If You Need Fund Recovery from HostFX, Talk to Us

We create these reviews to warn consumers about brokers and schemes that may be fraudulent. If you have an account with this broker close it and request a withdrawal. If you are not given your money back, contact Broker Complaint Registry right away. We will consult with you, work to track down your funds and create investigative reports, and will assist with fund recovery efforts.

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scam reviews 2023

LegitimateBitrade Broker Review

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LegitimateBitrade

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Do You Want to Know If LegitimateBitrade Is Legitimate or a Scam Broker? 

First off, we have to wonder when a company has to have the word “legitimate” in its name. We’re not saying that no legitimate company would label itself “Legitimate.” It’s just that if a broker is already fine, they have their license to prove it–they don’t need to put it in their name. Actually, LegitimateBitrade doesn’t have a license at all. The SEC has flagged it for offering trading without a license. 

There Are Some Problems with LegitimateBitrade

The web content doesn’t really tell us very much. It’s mainly a string of cliches. When we ask which payment method to us, they answer “all major types–Bitcoin!” Well, that’s speaking out of both sides of one’s mouth. We see guaranteed returns, which are always red flags, and encouragement for clients to immediately get into debt–they are offering loans. Few things in trading situations are more dangerous than trading on the margin. Stay away from this broker. 

Red Flags that LegitimateBitrade Could Be a Scam Broker

  • No license
  • Flagged by the SEC
  • Guaranteed returns
  • Encourages trading on the margin
  • Relies heavily on crypto deposits
  • No transparency
  • Misleading statements
  • Bad reviews

If You Need Fund Recovery from LegitimateBitrade, Talk to Us

We create these reviews to warn consumers about brokers and schemes that may be fraudulent. If you have an account with this broker close it and request a withdrawal. If you are not given your money back, contact Broker Complaint Registry right away. We will consult with you, work to track down your funds and create investigative reports, and will assist with fund recovery efforts.

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scam reviews 2023

May Capital Group LLC Broker Review

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May Capital Group LLC

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Do You Want to Know If May Capital Group LLC Is Legitimate or a Scam Broker? 

One of the first problems we saw with May Capital Group LLC is an SEC document indicating that there is a denial of membership in the SEC. This is a serious document. It indicates that May Capital Group and any company run by Melvin Rokeach is disqualified from regulation by the SEC because of an undisclosed former felony. Do we really want to hear more? Do we want anything more to do with this broker? Hopefully not. 

There Are Some Problems with May Capital Group LLC

We certainly hope you aren’t continuing to read this review because you are still considering opening an account with May Capital Group LLC. it’s site may be professional looking, but there is no information about the people behind it and no licensing information. You may hear of a broker with a similar name, but research carefully to avoid getting into trouble. 

Red Flags that May Capital Group LLC Could Be a Scam Broker

  • Disqualified by the SEC
  • Past criminal activity
  • No license
  • No transparency
  • Misleading statements
  • Bad reviews

If You Need Fund Recovery from May Capital Group LLC, Talk to Us

We create these reviews to warn consumers about brokers and schemes that may be fraudulent. If you have an account with this broker close it and request a withdrawal. If you are not given your money back, contact Broker Complaint Registry right away. We will consult with you, work to track down your funds and create investigative reports, and will assist with fund recovery efforts.

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scam reviews 2023

Mayor Mining FX Broker Review

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Mayor Mining FX

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Do You Want to Know If Mayor Mining FX Is Legitimate or a Scam Broker? 

The first warning that all is not well with this broker is that we get a warning right away that it gives an account wallet directly and says that any money given to the account manager can’t be guaranteed. Woah, that looks like something’s afoot. Visitors to the site are encouraged to be affiliate marketers. Throughout the homepage, we see quotes of crazy double-digit returns. Is this at all trustworthy? With 100x leverage trading, how can this possibly be safe?

There Are Some Problems with Mayor Mining FX 

We see that Mayor Mining FX claims to be located in Seychelles, St. Vincent, and the Grenadines. This is a place unlicensed brokers like to hide, and there is no oversight from regulators here. These are major red flags, including how blatantly they guarantee returns. No wonder there is a significant warning on this website. Stay away. 

Red Flags that Mayor Mining FX Could Be a Scam Broker

  • Guaranteed returns
  • No proof of license
  • No transparency
  • Misleading statements
  • Bad reviews

If You Need Fund Recovery from Mayor Mining FX, Talk to Us

We create these reviews to warn consumers about brokers and schemes that may be fraudulent. If you have an account with this broker close it and request a withdrawal. If you are not given your money back, contact Broker Complaint Registry right away. We will consult with you, work to track down your funds and create investigative reports, and will assist with fund recovery efforts