Not an Honest Cooperator
If you anticipate full transparency from this company, including disclosure of their legal information, contact details, and trading conditions, prepare for disappointment. The company operates with complete anonymity, withholding information about the jurisdiction they function from.
In our thorough search for clues about their legal standing, we meticulously examined various Tier 1 databases maintained by prominent financial authorities such as FCA, CySEC, FINMA, CONSOB, and NFA. Regrettably, our investigation only uncovered a warning issued by BaFin.
The public document explicitly states that this business operates without the necessary license and authorization. Given their provision of services to German traders, the state regulator found it imperative to caution citizens against engaging in any dealings with this firm.
Attention Drawing
Social networks are rife with fraudulent profiles that serve the singular purpose of identifying victims and obtaining their contact information. These false identities aid boiler room agents in establishing connections with potential targets, initiating relentless phone calls, email spamming, and unwanted messages.
Appearing kind, friendly, and persuasive, these individuals often impersonate Forex experts, models, influencers, and other personas, facilitating financial and emotional manipulation of unsuspecting victims. Once investors are hyped up, the extortion of money can commence.
Baited Victims
The ongoing BaFin investigation suggests that the scammers are specifically targeting German investors, although their reach extends beyond national borders. Since the website’s establishment in June 2023, victims from the following countries have been consistently reported:
- Germany
- Poland
- France
If you encounter difficulties with withdrawals, do not hesitate to seek our assistance. We are available at any time, so feel free to reach out through our online chat.
Weak Trading Technology
This financial criminal features a rudimentary web trader on their domain, similar to what was observed in our previous reviews. Despite being advertised as intuitive and user-friendly, the software’s limitations are overlooked. Such simplistic solutions create a false impression of trading being easy and undemanding. Beware of these traps and opt for platforms like MT4, MT5, or cTrader.
Poor Selection of Assets
The website lacks a comprehensive disclosure of available instrument classes, providing only vague descriptions of CFDs, Crypto, and Forex trading. No detailed asset lists or pricing information is provided, with the platform preview indicating a focus on the Crypto class (BTC, ETH, LTC, ADA, DOT, LUNA, SOL, ZEC, XRP).
Unfair Account Pricing
Without the opportunity to test the trading environment through a Demo, users are expected to trust a blacklisted broker’s claims about their account packages. Advertised features include a personal manager, free trading signals, robot traders, and other unrealistic options, justifying exorbitant costs:
- Basic – $10,000
- Silver – $25,000
- Gold – $50,000
- Platinum – $100,000
- Diamond – $200,000
High Leverage and Hidden Costs
The platform offers leverage ratios of up to 1:500, a clear violation of EEA limitations set at 1:30 for risk control. Hidden costs and sudden fees are anticipated, as no detailed information is provided. While feature bundles claim to exclude trading commissions, this statement is dubious.
Up To 40% Bonus
A bonus is offered with the initial deposit, varying based on the deposited amount. However, it’s crucial to note that EEA regulators have banned this feature due to its misuse by unlawful trading platforms to hinder withdrawals.
Withdrawals Don’t Make Sense
Payout terms on this platform remain undisclosed due to the absence of legal documents. Concerns escalate as no realistic trading activities occur. Withdrawals allegedly allow credit cards, contradicting AML precautions taken by regulated brokers that typically support only crypto channels for deposits.
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