Do You Want to Know If Lido.IS Is Legitimate or a Scam?
We received customer complaints about Lido.IS. After trying to research this broker, we came upon the website with a warning that it was suspected of phishing. In other words, Google thinks the Lido.IS site is dodgy enough that they issue a warning deterring people from even visiting. Clearly, this can’t be a reliable place to park your money if a major search engine doesn’t even think landing on the site is safe.
What’s the Deal with Lido.IS?
In the digital age, information is money. Just as many brokers are out to convince people to deposit as much money with them as possible, others are as concerned about phishing and luring people to part with highly sensitive personal information. With this data, Lido.IS can hack accounts and steal money and even impersonate you. Not surprisingly, Lido.IS has a very low site trust rating. It’s safe to say we recommend staying away.
Here Are Some Problems with Lido.IS
No license
No transparency
Phishing warning
Negative customer reviews.
If You Need Fund Recovery from Lido.IS, 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, and work to track down your funds.
Do You Want to Know If YoBitPro Is Legitimate or a Scam?
When we landed on the YoBitPro site, we were given zero information. Nothing about the people who run it, no terms and conditions, no explanation of its trading services. Nothing. It was as if we were already on the trading platform without knowing where to start. We also didn’t see any information about whether it has a license or not. Any licensed broker would prominently display this information, so we can safely assume it’s unlicensed.
What’s the Deal with YoBitPro?
On the site, we see the words, Now Online. Since we are on the web as we are reading it, this doesn’t exactly need to be announced. It certainly doesn’t reveal anything we didn’t know. Then, flashing across the screen, we see the words “Maximum annual rate 100%.” No broker or trading platform should be making absolute guarantees about how much clients can expect to make in a given year. This is a highly suspicious trading platform.
Here Are Some Problems with YoBitPro
No license
Guaranteed returns
No information
Misleading statements
No transparency.
If You Need Fund Recovery from YoBitPro, 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, and work to track down your funds.
Do You Want to Know If GLE Markets Is Legitimate or a Scam?
GLE Markets adopts a friendly and welcoming tone on the website. The reality is that this broker is probably not being honest about their location–allegedly the United Kingdom. If they are UK-based, they would have to hold an FCA license and they don’t. Their FAQ section reveals some serious problems. They offer bonuses, which no regulators allow because they are a trap. Scam brokers offer bonuses as a way to tie up money in client accounts, so they never actually receive the bonus at all.
What’s the Deal with GLE Markets?
GLE Markets has high fees, and it charges for withdrawals. Its leverage at 1:500 is dangerously high. In addition, on its legal page, GLE Markets says the only party that can settle customer disputes is the regulator of St. Vincent and the Grenadines. This confirms that GLE Markets doesn’t have any kind of reliable licensing in the UK or anywhere else.
Here Are Some Problems with GLE Markets
No license
Dangerously high leverage
High minimum deposit
Misleading statements
No transparency.
If You Need Fund Recovery from LegitimateFXTrades, 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, and work to track down your funds.
Do You Want to Know If Bitcoinvestcloud Is Legitimate or a Scam?
The homepage of this website is so awkwardly written, it doesn’t sound like this company knows much about cryptocurrency. Without a subject to the sentence, we see the words, “Is an innovative payment network and a new kind of money.” Which are they talking about? Bitcoin or Bitcoinvestcloud? They seem to have their company mixed up with the entire cryptocurrency sector. Also, on the homepage, we see, “bitcoinvestcloud is a digital economy.” A crypto broker is not a whole economy. Clearly, this wasn’t written by someone who knows what they are talking about. Also, they insist they are “Not a Threat” which makes us wonder if they are.
What’s the Deal with Bitcoinvestcloud?
We notice that Bitcoinvestcloud offers bonuses, which no regulator allows. Bonuses are meant to snare investors and are an excuse to hold onto their money. This website has a very low trust rating and they don’t mention anything about having a license. Also, they don’t mention anyone who runs the company or says anything about credentials. We think this is another unregulated broker scam and would stay away.
Here Are Some Problems with Bitcoinvestcloud
No license
Oddly worded website content
Low site trust rating
Misleading statements
No transparency.
If You Need Fund Recovery from Bitcoinvestcloud, 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, and work to track down your funds.
Do You Want to Know If Easycryptos4U Is Legitimate or a Scam?
Easycryptos4U goes to great lengths to try to fool people into thinking they are a licensed and reliable brokers. However, just a casual look at its site will tell you that this is a dubious broker. They showed their company license and want people to think this is the same as a brokerage license. It isn’t. For instance, what does a “registered” address mean? That’s not proof of legitimacy in financial dealings.
What’s the Deal with Easycryptos4U?
Another problem with Easycryptos4U is that it hides some extremely unfair practices in the middle of its lengthy legal page. For instance, it charges an exchange fee of 12%. This is an unheard-of amount for currency exchange rates. These terms also claim that there will be variations in prices and that customer accounts can be canceled suddenly on the slightest suspicion. This reflects some of the excuses we have heard from angry customers who have been locked out of their accounts.
Here Are Some Problems with Easycryptos4U
No license
Extremely high fees
Low site trust rating
Verified customer complaints
No transparency.
If You Need Fund Recovery from Easycryptos4U, 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, and work to track down your funds.
Do You Want to Know If STOXDC Is Legitimate or a Scam?
STOXDC is an unregulated broker that doesn’t provide much information about itself. The website says, “Everything you need at the tip of your fingertips.” Maybe they’ve told themselves that customers have everything they need and therefore, don’t provide any information. On the About US section STOXDC says they like to “Keep it simple.” However, they demand extensive know your customer registration, including photo ID and extensive information. Yet they won’t give any names or addresses for their own company.
What’s the Deal with STOXDC?
We’ve come across many verified customer complaints about this broker. People claim that they’ve not been able to withdraw their money after making huge deposits. This is the typical behavior of a scam broker. We wouldn’t recommend trusting any unregulated broker and especially one that doesn’t reveal any information about themselves. This is definitely a red flag and we suggest staying away.
Here Are Some Problems with STOXDC
No license
Huge minimum deposit
Verified customer complaints
No transparency.
If You Need Fund Recovery from STOXDC, 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.
Do You Want to Know If Emirex co Is Legitimate or a Scam?
Emirex’s website doesn’t tell us very much. We can tell it’s a cryptocurrency trading platform that allows customers to use fiat currency to buy, sell and trade 50 different types of cryptocurrencies. Although it does have a license, it isn’t the highest standard and was issued by the Estonian police department. We looked at the reviews and they were pretty mixed. Many complained about their not being transparent and having a fake address.
What’s the Deal with Emirex
This crypto broker may seem okay to some people. We aren’t going to assume that all of the positive reviews are fake. However, the low-grade license, lack of transparency, and the many negative reviews give us pause for thought. We can’t recommend this broker under these circumstances. However, there is a question of whether it’s an actual scam. Some people may haven’t experienced resembling losing money to fraud, but it’s important to be vigilant.
Here Are Some Problems with Emirex
Low-grade license
Verified customer complaints
No transparency.
If You Need Fund Recovery from Emirex, 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.
XMTrading seems like a broker with a far reach. It’s licensed by the world’s leading regulators and offers a wide range of trading products. However, not all of these trading services are offered everywhere, and XM Trading also doesn’t provide the same level of protection for its customers in all regions. This means that the trading experience with XM Trading can vary greatly from one country to the next.
XM Trading has a long list of licenses and has won some awards. That’s impressive, but it’s important for customers located outside of the United States, Europe, Australia, and South Africa to be cautious. XMTrading may be taking advantage of the fact that it has licenses in some parts of the world with lax standards. It’s possible that traders in these areas have less protection.
About XM Trading
XMTrading, at first glance, seems like a five-star broker and it may behave this way for traders in some countries. It has a long and illustrious list of regulators. Because of its many licenses, it can operate in 190 countries and its staff speaks 30 languages.
XMTrading offers trading of stocks, commodities, cryptocurrencies, precious metals, indices, and forex, although Europeans may have to trade some of these assets not directly but through CFDs. Its main branch is in Cyprus, but it also has offices in Australia, the UK, Belize, and Greece. It also has a license from Dubai to offer trading services in the Middle East.
XMTrading has some of the lowest deposit minimums in the industry. Customers can open an account for as little as $5. XMTrading is ideal for novice investors and experienced traders alike with a wide range of educational and research tools. Customer service is available 24/5 and speaks 30 languages.
Like most regulated brokers, XMTrading offers MetaTrader 4 and 5, which sets the industry standard for trading platforms. Although its fixed spreads are relatively high, there are no surprises and it offers competitive spreads on many assets. XMTrading also has lower-than-average fees and no fees on deposits and withdrawals.
Issues with XM Trading
Although XMTrading sounds outstanding, the picture isn’t exactly rosy for all of its customers. The following are some problems with XMTrading
Limited Trading Opportunities for Some Customers
Extremely High and Unsafe Leverage in Certain Regions
Different Standards of Safety and Protection
Numerous Verified Customer Complaints
Limited Trading Opportunities for Some Customers
Although XMTrading boasts of offering a wide range of trading opportunities, these can be rather limited for its customers in the EU. European clients have to trade stocks through CFDs only, and their only other choices are forex and cryptocurrencies.
This may sound good enough for European traders who prefer trading CFDs, forex, and cryptocurrencies, but it should be noted that these are very high-risk assets, which means that XMTradings European customers are at a much higher risk of losing money than people in other regions.
Extremely High and Unsafe Leverage in Certain Regions
In trading, leverage is a touchy subject. We see many scam brokers boast of offering extremely high leverage. They often trick people into thinking they can make a lot of money if they trade with higher leverage. However, traders are more likely to lose than win with this deal and many end up in debt to the broker.
Trading on the margin was what caused the stock market crash in the U.S. that led to the Great Depression in the 20th century, and not much has changed since, except that leverage is more popular as a selling point than ever.
However, respected regulators don’t allow brokers to offer leverage of more than 1:30. XMTrading takes advantage of its several different grades of licensing and offers 1:500 and even 1:880 leverage to some customers. This clearly isn’t appropriate for a broker that has top licenses. So why does XMTrading do this?
Different Standards of Safety and Protection
The answer to the above question is, “Because it can.” That may be a cynical conclusion, but that is the only conclusion we can draw from XMTrading’s different standards of protection. Why should they offer just 1:30 leverage to customers in Europe but 1:880 in other areas? Simply because their European licenses don’t allow them to offer higher leverage. However, where they can offer higher leverage, they do, even though everyone knows this is dangerous.
The leverage issue is only one of several examples of XMTrading offering different degrees of protection to clients based on where they are located. This seems ethically questionable and of course unsafe.
Numerous Verified Customer Complaints
The starkly different levels of oversight and safety give rise to very different views of the broker. This isn’t at all surprising. Naturally, if XMTrading doesn’t protect all of its customers equally, it will get many justified negative complaints from some customers, and glowing reviews from others, because the vulnerable clients will get poorer service.
Should You Open an Account with XM Trading?
Whether or not you should open an account with XMTrading depends on where you are located and how comfortable you are with XMTrading’s double or triple standards. If you are located in a region where XMTrading holds a solid license, you are likely to be safe trading with them. However, Europeans should keep in mind that their choices of trading vehicles may be limited.
If you’re located in a country where XMTrading doesn’t have a first-class license, you should take positive reviews with a grain of salt. You may not be offered the same selection or the same standard of protection.
Even if you are protected by XMTrading’s licenses, you may feel uncomfortable with the variation in offerings or safety. You may choose instead a regulated broker who doesn’t operate this way. The choice is yours.
If You Need Fund Recovery from a Problem Broker,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.
Do You Want to Know If StandardFX Is Legitimate or a Scam?
This website is a real headache for those who are concerned with protecting people from scams. First of all, StandardFX has a low trust rating. Second, it has every pitfall and high-risk trading product we can imagine and yet StandardFX tries to attract vulnerable people–those who are saving for retirement and who need loans.
What’s the Deal with StandardFX?
StandardFX says it offers trading of forex and currency and that returns are assured. No brokers can guarantee returns. It encourages people to trade for retirement, which may not seem unreasonable at first glance. However, it isn’t a good idea to stake one’s future on highly volatile trading products like forex or cryptocurrencies. It also offers loans, yet boasts of being free of banking regulations. StandardFX claims to be licensed, but we could find no mention of them on the FCA or Cysec website.
Here Are Some Problems with StandardFX
No license
Deals only with high-risk assets
Low site trust rating
Targets vulnerable people
No transparency.
If You Need Fund Recovery from StandardFX, 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, and work to track down your funds.
Moneta is a broker that seems legitimate. It has a license from the South African financial authorities and offers a wide variety of trading products. However, there is another side to Moneta. Customers from all areas of the world aren’t offered the same protection. It seems that Moneta is two brokers rather than one.
About Moneta
Moneta was founded in 2009 and has its headquarters in South Africa. It has a license from the FSCA, the South African regulatory authority. However, it also has licenses from Seychelles FSA and St. Vincent, and the Grenadines SVGFSA. These last two licenses are far less impressive than the FSCA license, but we will discuss why later.
Moneta is a CFD and forex broker that offers over 900 trading products and claims it has 70,000 clients. It has won a number of awards and offers low spreads and fees. However, this is true in South Africa and some other countries. In many areas of the world, Moneta offers services that it wouldn’t be allowed by the FSCA. That’s why it also has a third-rate license from FSA and SVGFSA.
Moneta seems like an excellent broker. It has won several awards and has a first-rate license from the FSCA. Moneta also allows traders to use WebTrader and MetaTrader 4 and 5. Customers can open an account with as little as $50 and there are no withdrawal or deposit fees. Moneta doesn’t even levy inactivity fees, so customers can take a break from trading without being penalized.
As a registered broker, Moneta offers most of its customers security with segregated accounts and negative balance protection. Its spreads are competitive and low for the industry. Keep in mind, though, that all of these advantages are enjoyed only by clients located in regions covered by their FSCA license.
Here Are Some Red Flags Concerning Moneta
Moneta clients in areas not covered by the FSCA regulation may not recognize the positive qualities mentioned in the description above. Moneta can seem like a very different broker to them. These are some red flags concerning Moneta:
Leverage can be as high as 1:1000
Has two types of licenses
Doesn’t offer the same protection everywhere
Customer complaints
Leverage Can Be As High as 1:1000
Leverage is often considered to be a good thing, at least for investors who are looking for high risk and high reward. However, leverage can be dangerous and can get traders into debt very quickly. That’s why regulators put a cap on the maximum amount of leverage, usually around 1:30 at acceptable risk. When brokers advertise leverage in the hundreds or in the case of some Moneta accounts, at 1;1000, that is a sign that you are dealing with an unregulated and possibly a scam broker.
But wait. Moneta has a quality FSCA license. But it also has licenses from Seychelles and St. Vincent and the Grenadines, which allows it to have dangerous leverage of up to 1:1000. This implies that Moneta isn’t really a quality broker and will put their traders at risk if they are allowed to. A reliable broker should not offer this kind of leverage on principle.
Moneta Has Two Types of Licenses
Have you ever referred to a person as “two-faced?” They show one side to one group of people and a darker one to another type of person. Moneta can be accused of being a two-faced broker.
There is no reason why a legitimate broker should have a first-rate license as well as a few that aren’t worth the paper they are printed on. The only possible reason is if they are thinking of offering services that their respectable regulators don’t allow.
Even if you have a license with Moneta in an area under the jurisdiction of the FSCA and are enjoying benefits like negative balance protection, you may wonder about trusting your money with a broker that would have such a shoddy license, such as a paper from Seychelles and St. Vincent and the Grenadines. The question of integrity should be relevant to your financial security.
Doesn’t Offer the Same Protection Everywhere
We discussed above the problem of offering a reasonable 1:30 leverage in some areas and a shocking 1:1000 leverage in others. Leverage is just one example of the different levels of protection offered to Moneta clients.
It’s clear that some of Moneta’s clients enjoy full FSCA protection while others are at the mercy of FSA and SVFSA which don’t offer any oversight at all. Brokers that have this kind of paltry “regulation” can pretty much do anything they want. What’s a respectable award-winning broker like Moneta doing with such a shoddy license?
Customer Complaints
Every broker or merchant gets complaints once in awhile. We can’t take seriously everyone who claims they “lost money” from X broker. They could have lost money simply because they didn’t make good trading decisions. Also, it’s important to maintain an attitude of skepticism about reviews on sites that allow just anyone to leave comments.
However, where there’s smoke, there’s usually fire. We’ve received verified customer complaints about Moneta, and they aren’t just upset because the market isn’t strong. However, we’ve seen the consequences of Moneta holding a two-tier license policy, and it means that not all clients get the same protection.
Should You Take the Risk with Moneta?
You could decide to go ahead and open an account with Moneta. It’s safe to do so if you are located in a region under the FSCA jurisdiction. However, others should realize that Moneta isn’t the same broker for them. They put them at risk with high leverage and don’t have the same kinds of services.
Even if you are located in an FSCA area, you may decide to look elsewhere. Why should you trust your money with a broker that shows questionable integrity? The choice is yours.
If You Need Fund Recovery from a Problem Broker,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.
