Nexus Llc, Free Trade Cfd, Smart Flow Ltd, Avan Trade, Bullbit

Caution Investors Nexus Llc, Free Trade Cfd, Smart Flow Ltd, Avan Trade, Bullbit – Consob has ordered the black-out of 6 following new websites that offer financial services illegally:

Overview:

Online trading has become a popular way to make money in the financial markets. However, not all online brokers are trustworthy and reliable. Some of them are unregulated entities that operate without any oversight or accountability. These companies may offer attractive features and promises, but they also pose a high risk of fraud and scams.

Regulation and Compliance:

One of the most important factors to consider when choosing an online broker is regulation and compliance. Regulation means that the broker is authorized and supervised by a reputable financial authority, such as the FCA in the UK, the ASIC in Australia, or the CySEC in Cyprus. Compliance means that the broker follows the rules and standards set by the regulator, such as keeping client funds in segregated accounts, providing fair and transparent trading conditions, and ensuring customer protection.

Unregulated entities, on the other hand, do not have any license or registration from any authority. They operate in the shadows, without any legal or ethical obligations. They can manipulate prices, execute trades against their clients, refuse withdrawals, or even disappear with their clients’ money.

Customer Reviews:

Another way to assess the credibility of an online broker is to check customer reviews and feedback. You can find many online platforms and forums where traders share their experiences and opinions about different brokers. However, you should also be careful about fake or paid reviews that may mislead you.

We have done some research and found that most of the customer reviews about Nexus Llc, Free Trade Cfd, Smart Flow Ltd, Avan Trade, and Bullbit are negative and alarming. Many traders have reported that these companies are scams that have cheated them out of their money. Some of the common complaints include:

– Difficulty or impossibility of withdrawing funds

– Aggressive and misleading marketing tactics

– Unauthorized charges and fees

– Poor customer service and communication

– False or misleading information about trading conditions

– Account closure or deletion without explanation

– Pressure to deposit more money or upgrade accounts

Products and Services:

Nexus Llc, Free Trade Cfd, Smart Flow Ltd, Avan Trade, and Bullbit claim to offer a variety of products and services for online trading. These include:

– Forex: The foreign exchange market where currencies are traded

– CFDs: Contracts for the difference that allow traders to speculate on the price movements of various assets, such as stocks, commodities, indices, cryptocurrencies, etc.

– Crypto: The digital currency market where cryptocurrencies such as Bitcoin, Ethereum, Litecoin, etc. are traded

– Stocks: The equity market where shares of companies are traded

– Commodities: The market where raw materials such as gold, oil, wheat, etc. are traded

– Indices: The market where baskets of stocks that represent a specific sector or country are traded

However, these products and services are not verified or regulated by any authority. Therefore, traders have no guarantee that they are getting fair and accurate prices, execution, or liquidity. Moreover, these companies may impose hidden fees or commissions that reduce the profitability of trading.

Location:

Nexus Llc, Free Trade Cfd, Smart Flow Ltd, Avan Trade, and Bullbit do not provide any clear or reliable information about their location or contact details. They use vague or fake addresses that do not correspond to any physical location. They also use generic or free email addresses that do not match their domain names. They do not have any phone numbers or live chat options for customer support.

This lack of transparency and accountability makes it very difficult for traders to reach out to these companies in case of any issues or disputes. It also makes it impossible for regulators or law enforcement agencies to track them down or take any action against them.

Customer Service:

Customer service is another crucial aspect of online trading. Traders need to have access to responsive and professional customer support agents who can assist them with any questions or problems they may encounter while trading.

Unfortunately, Nexus Llc, Free Trade Cfd, Smart Flow Ltd, Avan Trade, and Bullbit do not offer any quality customer service. As mentioned earlier, they do not have any phone numbers or live chat options for customer support. They only rely on email communication, which is often slow or unresponsive.

Many traders have reported that these companies ignore their emails or send automated replies that do not address their issues. Some traders have also reported that these companies harass them with phone calls from different numbers to pressure them to deposit more money or upgrade their accounts.

Is Your Money Safe in an Unregulated Company?

The answer is no. Your money is not safe in an unregulated company. When you deposit money with an unregulated entity, you are essentially giving it away without any guarantee of getting it back.

Unregulated entities do not keep client funds in segregated accounts, as regulated brokers do. This means that they can use your money for their purposes, such as paying their expenses, funding their operations, or covering their losses. They can also run away with your money at any time, without any trace or recourse.

Moreover, unregulated entities do not offer any compensation or insurance schemes that protect client funds in case of bankruptcy or insolvency. Regulated brokers, on the other hand, are members of compensation or insurance schemes that cover a certain amount of client funds in case the broker goes out of business.

Defensive Measures Against Fraudulent Brokers:

If you have already deposited money with Nexus Llc, Free Trade Cfd, Smart Flow Ltd, Avan Trade, or Bullbit, you may still have a chance to recover it. However, you need to act fast and take some defensive measures against these fraudulent brokers. Here are some steps you can take:

– Stop trading and stop depositing more money with these companies

– Try to withdraw your money as soon as possible

– Contact your bank or credit card company and request a chargeback or a reversal of the transaction

– Report these companies to your local financial authority and consumer protection agency

– Seek legal advice from a reputable lawyer who specializes in online trading fraud cases

– Share your experience and warn other traders about these companies on online platforms and forums

Conclusion:

Nexus Llc, Free Trade Cfd, Smart Flow Ltd, Avan Trade, and Bullbit are unregulated entities that offer online trading services. They are not trustworthy or reliable. They pose a high risk of fraud and scams. They do not provide fair and transparent trading conditions. They do not offer quality customer service. They do not protect client funds. They do not comply with any rules or standards.

We strongly advise you to avoid these companies at all costs. If you are looking for a legitimate and reputable online broker, you should choose one that is regulated and licensed by a well-known financial authority. You should also do your research and check customer reviews and feedback before signing up with any broker.