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Caution Investors GERSTARCAPITAL.EU – Regarding market intermediaries (investment and trading advisers, collective investment schemes, brokers, dealers, and transfer agents)
GERSTARCAPITAL.EU is a website that claims to offer online trading services in various financial instruments, such as forex, commodities, indices, stocks, and cryptocurrencies. However, according to ASIC, the website is not licensed or authorized to provide financial services in Australia or any other jurisdiction. ASIC has issued a warning to the public to avoid dealing with GERSTARCAPITAL.EU and any other entities associated with it, as they may be involved in a scam.
Regulation and Compliance:
One of the most important factors to consider when choosing a broker is their regulation and compliance status. A regulated broker is subject to the rules and oversight of a reputable financial authority, such as ASIC, FCA, CySEC, or NFA. These authorities ensure that the broker follows high standards of conduct, transparency, and security, and that they protect the interests and rights of their clients. A regulated broker also keeps their clients’ funds in segregated accounts, provides negative balance protection, participates in compensation schemes, and offers dispute resolution mechanisms.
A quick search on the internet reveals that GERSTARCAPITAL.EU has received numerous negative reviews from customers who have dealt with them. Many of these reviews allege that GERSTARCAPITAL.EU is a scam that uses deceptive tactics to lure unsuspecting investors into depositing money with them. Some of the common complaints include:
– The website is poorly designed and contains many grammatical errors and inconsistencies.
– The website does not provide any information about the company’s background, ownership, registration, or regulation.
– The website does not disclose the terms and conditions, fees, commissions, spreads, or leverage levels of their services.
– The website does not offer any demo accounts or educational resources for beginners.
– The website promises unrealistic returns and bonuses that are impossible to withdraw.
– The website uses aggressive marketing and cold-calling techniques to pressure potential customers into signing up and depositing money.
– The website does not allow customers to withdraw their funds or close their accounts without paying exorbitant fees or meeting unreasonable conditions.
– The website blocks or ignores customers who try to contact them or request refunds.
Products and Services:
According to their website, GERSTARCAPITAL.EU offers online trading services in various financial instruments, such as forex, commodities, indices, stocks, and cryptocurrencies. However, there is no evidence that they actually provide these services or that they have access to any legitimate trading platforms or markets. In fact, it is likely that they operate a fake or manipulated trading platform that shows false prices and results to deceive their customers. Moreover, their website does not provide any details about the types, specifications, or features of the instruments they claim to offer.
The website of GERSTARCAPITAL.EU does not disclose their physical address or contact details. Instead, they only provide an email address and a phone number that are both unverified and unreliable. Furthermore, according to ASIC, the website operates from an unknown location and may be using multiple names and aliases to hide its identity and location. This makes it very difficult for customers to track them down or hold them accountable for any misconduct or fraud.
Another red flag that indicates that GERSTARCAPITAL.EU is a scam is their poor customer service. Many customers have reported that they have been unable to reach them or get any response from them via email or phone. Some customers have also claimed that they have been harassed or threatened by the representatives of GERSTARCAPITAL.EU when they tried to withdraw their money or complain about their services. Additionally, the website does not offer any live chat support or social media presence that could facilitate communication and feedback.
Is Your Money Safe in an unregulated company?
The answer is no. When you deal with an unregulated company like GERSTARCAPITAL.EU, you are putting your money at a very high risk of being lost or stolen. An unregulated company is not bound by any laws or regulations that protect your funds or your rights as a customer. They can manipulate their trading platform, charge hidden fees, refuse withdrawals, close your account without notice, or simply disappear with your money. You also have no recourse or legal action if you fall victim to their scam.
Defensive Measures Against Fraudulent Brokers:
To avoid being scammed by fraudulent brokers like GERSTARCAPITAL.EU, you should always do your due diligence before choosing a broker. Here are some defensive measures that you can take to protect yourself and your money:
– Check the regulations and reputation of the broker. You can verify their license and registration status with the relevant financial authorities, such as ASIC, FCA, CySEC, or NFA. You can also check their ratings and reviews on reputable websites, such as Trustpilot, Forex Peace Army, or Scam Broker Investigator.
– Read the terms and conditions of the broker. You should always read and understand the terms and conditions of the broker before signing up and depositing money with them. You should pay attention to the fees, commissions, spreads, leverage levels, withdrawal policies, bonus conditions, and risk warnings of their services.
– Test the trading platform and customer service of the broker. You should always try out the trading platform and customer service of the broker before committing to them. You should look for a user-friendly, secure, and reliable trading platform that offers a variety of instruments, tools, and features. You should also look for responsive, helpful, and professional customer service that is available 24/7 via multiple channels.
– Start with a small amount and a demo account. You should never invest more than you can afford to lose or risk with an unknown or untrusted broker. You should start with a small amount and a demo account to test their services and performance. You should also avoid accepting any bonuses or incentives that may lock your funds or restrict your withdrawals.
– Be wary of unrealistic promises and pressure tactics. You should never fall for unrealistic promises or pressure tactics that are used by fraudulent brokers to lure you into their scam. You should be skeptical of any claims of high returns, low risks, guaranteed profits, or free money. You should also be cautious of any unsolicited calls or emails that urge you to sign up or deposit money with them.
GERSTARCAPITAL.EU is an unauthorized entity that has been flagged by ASIC as a potential scam. They do not have any license or regulation to provide financial services in Australia or any other jurisdiction. They have also received numerous negative reviews from customers who have been scammed by them. They offer online trading services in various financial instruments, but they do not provide any information or details about their company, products, or services. They also have poor customer service and use deceptive tactics to deceive and defraud their customers.
Therefore, we strongly advise you to avoid dealing with GERSTARCAPITAL.EU and any other entities associated with them. If you have already dealt with them or have been scammed by them, you should report them to ASIC and seek legal advice as soon as possible.