Day: May 22, 2023

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scam reviews 2023

AmtoFX Broker Review

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AmtoFX

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

AmtoFX is an unregulated broker that doesn’t offer very much information about itself and who is behind it. AmtoFX says it’s registered in Hong Kong, but that doesn’t mean that it’s a regulated broker. Having a business license and a brokerage license are two different things, but AmtoFX is counting on customers not knowing that or not thinking it’s that important. When we visited the NFA’s website, we couldn’t find any indication that AmtoFX was licensed.

What’s the Deal with AmtoFX?

AmtoFX has very high leverage, which can put brokers in danger. Leverage is hazardous because it encourages people to trade on the margin and basically ends up being in debt to the broker. This can keep people from withdrawing their money. In addition, there are many customers who have said they can’t withdraw money from AmtoFX. It makes sense to believe these complaints since AmtoFX doesn’t have a license or any indication that it’s a legitimate broker. 

Here Are Some Problems with AmtoFX

  • No license
  • No transparency
  • Misleading statements
  • Numerous negative reviews

If You Need Fund Recovery from AmtoFX, 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.

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scam reviews 2023

BTGGWEB Broker Review

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BTGGWEB

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

BTGGWEB is a broker that doesn’t provide any information about itself. The website merely shows trading statistics but doesn’t reveal anything about who runs it or any licensing information. This means that customers who use the BTGGWEB platform don’t have any protection if something goes wrong. Not having any license or information about trading services are red flags that indicate the possibility of a scam broker. 

What’s the Deal with BTGGWEB?

BTGGWEB is a broker that is like hundreds and possibly thousands that have no licenses. They all claim to offer huge deals and fast returns for clients who aren’t too interested in researching brokers carefully before opening an account. These aren’t as simple as they look. In fact, the trading platform may be fake and these brokers may not be interested in allowing customers to withdraw their money. We’re not 100% sure if BTGGWEB is doing this, but we’ve seen many customer complaints about this broker. 

Here Are Some Problems with BTGGWEB

  • No license
  • No transparency
  • Misleading statements
  • Numerous negative reviews

If You Need Fund Recovery from BTGGWEB, 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.

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scam reviews 2023

Safe Currency Broker Review

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Safe Currency

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Do You Want to Know If Safe Currency Is Legitimate or a Scam?

Safe Currency is a misnomer. There’s nothing safe about a broker that isn’t regulated. When we searched Safe Currency, we were transferred to a site called Moniv.io. They tell us they are located in Lithuania, but we don’t see any proof of a license. The site is rather shoddy and doesn’t look professional, even though on the website, the broker claims they are “striving for perfection.” It looks like Safe Currency has a long way to go. 

What’s the Deal with Safe Currency?

Safe Currency’s lack of a license is concerning. Not having any license means that the broker has no oversight and the broker can get away with whatever it wants. The site is very skimpy on content, but there is a lengthy legal and terms and conditions section that clearly benefits the broker more than the client. There is little on the site to reassure any potential customers. 

Here Are Some Problems with Safe Currency

  • No license
  • No transparency
  • Misleading statements
  • Numerous negative reviews

If You Need Fund Recovery from Safe Currency, 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.

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scam reviews 2023

JPY500 Broker Review

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JPY500

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Do You Want to Know If JPY500 Is Legitimate or a Scam?

JPY500  is a broker that tries to seem legitimate, yet it doesn’t have a license and has been flagged by the FCA, the main regulator in the United Kingdom. It claims to offer a wide range of trading products, but its web platform is unspectacular, it demands a high minimum fee. One thing it does that is a real indication that JPY500 isn’t legitimate is that it lures people in with apparently generous bonuses. 

What’s the Deal with JPY500?

What’s the problem with bonuses? Aren’t bonuses a good thing? They may appear to be, but they are only bait to hook in the fish. Unregulated brokers offer bonuses at a price. When customers are given bonuses, they are restricted from withdrawing money until they trade a certain amount. Often they require excessive trading activity that most customers can never achieve. The bonuses are worse than useless–they are a means of depriving customers of their money. 

Here Are Some Problems with JPY500

  • No license
  • No transparency
  • Flagged by FCA
  • Misleading statements
  • Fake bonuses
  • Numerous negative reviews

If You Need Fund Recovery from JPY500, 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.

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scam reviews 2023

Portfolio Insider Broker Review

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Portfolio Insider

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Do You Want to Know If Portfolio Insider Is Legitimate or a Scam?

Portfolio Insider is one of these brokers that likes to toot its own horn. On the home page, Portfolio Insider says it provides “the world’s most valuable financial data.” Don’t trust any company or broker that claims it’s the “world’s most” except maybe if it’s Amazon justifiably claiming they are the world’s most popular ecommerce site. Not surprisingly, Portfolio Insider disappointed many customers, particularly in its failure to give promised refunds. 

What’s the Deal with Portfolio Insider?

Portfolio Insider claims to have a generous refund policy. In fact, in its email, it practically dares its customers to ask for a refund. However, we’ve seen many complaints on the Better Business Bureau from customers who have had their funds locked by Portfolio Insider. This is exactly the opposite of what Portfolio Insider has promised clients. Always be careful about any broker or merchant promises too much, particularly if they don’t have a license to back up their services and claims. 

Here Are Some Problems with Portfolio Insider

  • No license
  • No transparency
  • Misleading statements
  • Numerous negative reviews

If You Need Fund Recovery from Portfolio Insider, 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.

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scam reviews 2023

TradeProfitWeb Broker Review

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TradeProfitWeb

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

TradeProfitWeb has a low site trust rating. This usually happens to brokers that have negative reviews and suspicious licensing. TradeProfitWeb claims to be based in the United Kingdom, but that means it would have to have an FCA license. However, TradeProfitWeb doesn’t show any sign of having any licenses and there are many customer complaints about TradeProfitWeb. We have every reason to believe that customers should be suspicious of TradeProfitWeb

What’s the Deal with TradeProfitWeb?

Even a decent broker can attract some negative reviews, especially on regular sites that don’t require reviewers to verify they are actual customers. However, the plethora of negative reviews combined with the fact that TradeProfitWeb has no license causes us to think there isn’t smoke without fire. We don’t recommend opening an account with an unregulated broker, especially one that provides very little information about who runs it. We are willing to believe the negative reviews given all of the other red flags. 

Here Are Some Problems with TradeProfitWeb

  • No license
  • No transparency
  • Misleading statements
  • Numerous negative reviews

If You Need Fund Recovery from TradeProfitWeb, 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.

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scam reviews 2023

PunkCoinFun Broker Review

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PunkCoinFun

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

PunkCoinFun has a colorful name. It definitely doesn’t sound like one of those buttoned-up brokers that have been around for generations. In fact, PunkCoinFun is new even by the standard of many other crypto entities. Is it legitimate? That’s another question. We could find no license and PunkConFun has a very low website trust rating. How did it earn this? Sites that belong to suspected scams and that have received a lot of customer complaints tend to have a low ratings. 

What’s the Deal with PunkCoinFun?

PunkCoinFun doesn’t tell us anything about who runs it. Perhaps they think people don’t really care, but it’s essential to know the people you are trusting your money with. Although many crypto trading platforms are unlicensed, a number of them are regulated. Sticking with regulated brokers and avoiding these fly-by-night operations that provide no oversight at best and are scams at worst is best. 

Here Are Some Problems with PunkCoinFun

  • No license
  • No transparency
  • Falsely guarantees returns
  • Boasts of providing high and risky leverage
  • Numerous negative reviews

If You Need Fund Recovery from PunkCoinFun, 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.

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scam reviews 2023

Reuterstrade Broker Review

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Reuterstrade

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

ReutersTrade’s home page is nothing more than a sign-up form. They don’t mention any details about their trading service or what they offer. This means you have to surrender your information to find anything out. This seems like a phishing expedition. We did look at other pages, which gave guaranteed returns. No broker can promise that their clients will make specific rates of return. Also, clients who refer others get a commission. We wonder if this is also a pyramid scheme. 

What’s the Deal with Reuterstrade?

There is absolutely no transparency to Reuterstrade. No information about licenses, no names of the people who run it. We have an address, but that’s it. It seems this broker is just interested in getting clients’ money and not at all focused on reliable trading services. Reuterstrade isn’t the kind of broker you should open an account with. Instead, look for regulated and reliable brokers. 

Here Are Some Problems with Reuterstrade

  • No license
  • No transparency
  • Misleading statements
  • Guaranteed returns

If You Need Fund Recovery from Reuterstrade,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.

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scam reviews 2023

FXWinning Broker Review

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FXWinning

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

FXWinning claims to be an effective broker, but there are many reasons to be concerned. First of all, it has no license. It’s located in St. Vincent and the Grenadines. The regulator in this region doesn’t provide any oversight. In effect, St. Vincent and the Grenadines is a “safe haven” for financial scams of all kinds. We strongly suspect that FXWinning is run by people who perpetrated an earlier crypto scam that stole millions from clients. We don’t have absolute proof, but the two crypto scams seem to be connected. 

What’s the Deal with FXWinning?

Why should we believe that FXWinning may be a fraud? Simply put, it doesn’t have a license and is located in an area that is usually associated with unregulated and dodgy financial activities. We think there isn’t a good reason to open an account with a broker that is unregulated and has questionable connections. Instead, find a regulated broker with a solid reputation. 

Here Are Some Problems with FXWinning

  • No license
  • No transparency
  • Misleading statements
  • Allegedly connected to another scam broker

If You Need Fund Recovery from FXWinning, 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.