Legal Status of Trustbit Trade: Authentic Platform or Fraudulent Scheme?
A detailed scrutiny of the Trustbit.trade website reveals a concerning absence of any legal details. It appears that the entity deliberately obscures its ownership details and geographical base. More importantly, it operates without the essential regulatory approvals needed for its financial activities.
The organization lacks recognition from any esteemed financial regulatory bodies, such as the FCA, BaFin, or ASIC. This omission casts serious doubts on the legitimacy of their offered services, particularly concerning the reliability of withdrawals.
Clientele of Trustbit Trade
Despite being a new market entrant with a 2023 registration, Trustbit Trade has rapidly attracted negative attention. Given its opaque operations, it’s not surprising that the broker is implicated in scam allegations. Victims have predominantly been reported from:
- Italy
- The United Kingdom
- Poland
- Germany
Individuals from these or any other nations are encouraged to share their experiences with the firm. Those seeking to initiate a refund process may wish to consult with experts specializing in chargebacks.
Customer Feedback on Trustbit Trade
An alarming indicator of Trustbit.trade’s dubious operations is the overwhelming number of dissatisfied reviews, particularly on platforms like Trustpilot where negative feedback surpasses 70%.
Examination of these testimonials frequently points to difficulties in fund withdrawals, a common issue with non-regulated entities. Those who suspect they have been defrauded by this broker are advised to seek guidance from professional refund services promptly.
Financial Commitments at Trustbit Trade
The company purports to offer leverage up to a ratio of 1:200, which is generally considered risky, yet they note this may change following a client’s risk assessment. Despite advertising narrow spreads starting at 1 pip, the reality often involves much wider spreads, a typical scenario with unlicensed brokers.
Comments