Caution Investors toobit-gb.me – Regarding fraudulent or manipulative practices (insider dealing, market manipulation, misrepresentation of material information, etc.)
Overview:
Toobit-gb.me is an online platform that claims to offer trading services in various financial instruments, such as forex, stocks, commodities, indices, and cryptocurrencies. The website states that the company is registered in the Seychelles and has offices in London, Dubai, and Hong Kong. However, the FMA of Austria issued a warning on 10 Oct 2023 that toobit-gb.me is not authorized to conduct banking transactions in Austria that require a license. The FMA also advises that there is a risk of confusion with a financial services provider. You can find the link to the FMA warning here: https://www.fma.gv.at/en/toobit-gb-me/
Regulation and Compliance:
As mentioned above, toobit-gb.me is not regulated by any reputable authority and has been warned by the FMA of Austria for violating the Austrian Banking Act. This means that toobit-gb.me does not comply with the rules and standards that protect investors from fraud, money laundering, market abuse, and other risks. If you trade with toobit-gb.me, you will not have any legal recourse or compensation in case of any dispute or loss. You will also expose yourself to the possibility of being scammed or manipulated by the provider.
Customer Reviews:
We have searched online for customer reviews of toobit-gb.me and found mostly negative feedback. Many customers have reported that they have been unable to withdraw their funds from toobit-gb.me or that they have been pressured to deposit more money by aggressive sales agents. Some customers have also complained that they have been misled by false or misleading information on the website or by the customer service representatives. Some customers have even accused toobit-gb.me of being a scam or a Ponzi scheme.
Products and Services:
Toobit-gb.me claims to offer a variety of products and services for online trading, such as:
– A web-based trading platform that supports multiple languages and devices
– A mobile app that allows trading on the go
– A demo account that allows practicing trading with virtual money
– A range of account types with different features and benefits
– A selection of payment methods, including credit cards, e-wallets, and cryptocurrencies
– A variety of educational resources, such as webinars, videos, articles, and ebooks
– A team of professional analysts and advisors who provide market insights and trading signals
However, we cannot verify the quality or reliability of these products and services, as they are not regulated or supervised by any authority. We also suspect that some of these products and services may be used to lure customers into depositing more money or to manipulate their trading results.
Location:
Toobit-gb.me states that it is registered in the Seychelles and has offices in London, Dubai, and Hong Kong. However, we have not found any evidence or proof of these locations. The website does not provide any physical address or phone number for these offices. The only contact information available on the website is an email address and a live chat feature. We advise caution when dealing with providers that do not disclose their location or contact details.
Customer Service:
Toobit-gb.me claims to have a dedicated customer service team that is available 24/7 via email, phone, or live chat. However, we have found many customer complaints about the poor or unresponsive customer service of toobit-gb.me. Some customers have reported that they have been ignored or blocked by customer service agents when they try to request a withdrawal or ask a question. Some customers have also reported that they have been harassed or threatened by customer service agents when they refuse to deposit more money or accept a bonus offer.
Conclusion:
Based on our review, we conclude that toobit-gb.me is a risky and untrustworthy online broker that should be avoided by investors. Toobit-gb.me is not regulated by any authority and has been warned by the FMA of Austria for operating illegally and fraudulently. Toobit-gb.me has also received many negative customer reviews for its products, services, location, and customer service. Toobit-gb.me may be a scam or a Ponzi scheme that aims to deceive customers and take their money.
We recommend that you do not trade with toobit-gb.me or any other provider that is not regulated by a reputable authority. We also recommend that you always check the regulatory status and reputation of any online broker before you sign up or deposit any money. You can use the FMA website or other online resources to verify the license and legitimacy of any provider. You can also read customer reviews and feedback to learn from the experiences of other traders. By doing so, you can protect yourself from fraud and loss and ensure a safe and secure online trading experience.
