Grotfinance Broker Review: Is it a Scam or Legit?

Does Grotfinance Possess a License?

Grotfinance operates as an unlicensed investment corporation. This presents a substantial hazard to investors, as there is no legal safeguard if the company goes bankrupt or if an investor falls victim to fraud.

The financial ombudsman cannot intercede in such matters, and undoubtedly, the financial regulatory bodies won’t assist the aggrieved party.

It should also be viewed as a warning sign, as no bona fide brokerage or investment firm can offer its services without a proper license.

Grotfinance purports to operate from Switzerland, a bold assertion given that the Swiss regulator, FINMA, is one of the most rigorous in the world.

In the Swiss regulator FINMA we could not find a company with license number 11850384.

But let’s look at what’s listed on the broker’s website:

Grotfinance falsely asserts that it is regulated by CySEC, an inconsistency that raises suspicion, as CySEC supervises companies located in Cyprus, not Switzerland. We also uncovered that Grotfinance masquerades as a different company entirely, one that is lawfully registered in Cyprus but bears no association with Grotfinance.

The individuals behind Grotfinance purport to be regulated by CySEC, using the name GrotFinance Capital Markets Ltd (license number 422/22). But the actual holder of the license number, 422/22 with CySEC is a firm named Swissquote Capital Markets Limited. Needless to say, this company has no affiliation with Grotfinance whatsoever.

Questionable Regulation Status

The number one red flag with Grotfinance Broker is their ambiguous regulatory status. Who oversees their operations? Without proper regulation, investors’ funds and interests aren’t safeguarded.
Going back to the lie about regulation in Switzerland, we found a warning from FINMA.

Every day new scam brokers and trading bots appear on the web with only one goal – to steal your money. We have already exposed some of them, for example – Coin-Royal, Nextonbid, UltraPrimeFX.

Transparency is key in the world of finance. Grotfinance Broker’s less-than-transparent operations have given rise to doubts about its credibility.

Types of Grotfinance Accounts: A Huge Amount for a Minimum Deposit

Knowing all of the above evidence of fraud, would you invest 5,000 euros in this broker? And that’s exactly what the broker wants as a minimum deposit. Here are the other types of accounts he has:

• Basic – €5 000
• Intermediate – €20 000
• Professional – €50 000
• Expert – €150 000
• Exclusive – €500 000

What Traders are Saying

What better way to understand the broker than hearing from its users?

Despite the issues, there are positive reviews about Grotfinance Broker online. However, their over-enthusiastic tone raises questions about their authenticity.

Negative reviews provide a darker picture, echoing the “Grotfinance Broker review – scam” sentiment. Complaints mostly revolve around withdrawal issues and poor customer service.

Victimized by Grotfinance Broker? – Share Your Experience with Us

If you, or someone you know, has fallen prey to the Grotfinance scam, we implore you to get in touch with us without delay.

Reclaiming lost funds is a challenging process. The more time that elapses, the lower your chances of recouping your money. Don’t procrastinate! Feel free to use the live chat to reach out to our team directly for a complimentary consultation at your earliest convenience.

Grotfinance: Video

You can also write a comment under the video on our YouTube channel to tell other traders about your experience. But if you’ve already been a victim, contact us for a free consultation by filling out the form at the top of the page.
Below you will find a short video about Grotfinance. Watch it so you don’t miss anything important. In a few minutes you’ll learn the whole truth about Grotfinance!