Brokerz.com Review – 5 things you should know about Brokerz.com

Brokerz.com Review – 5 things you should know about Brokerz.com

Beware! This is an offshore broker! Your investment may be at risk.

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Brokerz.com is a st. Vincent and Grenadines-based CFD brokerage owned and operated by Brokerz ltd. Potential clients have at their disposal a leverage of 1:100,the MT4 trading platform and a diverse range of trading products. The spread of 3 pips on EUR/USD is twice the industry average and higher than what we would call acceptable. The minim deposit is the standard $250.

 

Brokerz regulation & safety of funds

Brokerz does not state any sort of regulatory status on its website and this isn’t surprising, having in mind that Financial Services Authority of Saint Vincent and Grenadines does not regulate forex. This makes the country an attractive locaton for would-be scammers. All this seriously hurts the brokers legitimacy and opens up potential clients to a number of risks.

Prestigious regulatory agencies, such as the UK’s FCA and CySec, require compliance with a number of strict rules that give significant assurance for the security of the clients funds.

The segregation of accounts is among the rules which are especially important in the trading world, because it drastically lowers the risk of possible commingling.

Another is the participation in a compensatory scheme by which the client’s losses will be covered in the unlikely case the broker goes bankrupt or attempts to swindle traders.

 

Brokerz deposit/withdrawal methods and fees

Potential clients of the brokerage may deposit or withdraw through Barclays, Visa, HSBC, Mastercard, Citibank. Much preferred by traders options such as PayPall and Skrill are missing. We read that there is a dormant fee in the Terms and Conditions. Inactive for more than 45 days trading accounts will be charged a monthly fee of $100.

How does the scam work?

One of the reasons regulation is so valued in the trading world is because scamming, unfortunately, happens quite often and the regulatory status of a brokerage acts as a sort of guarantee that traders may feel secure about investing. Nevertheless, well-informed traders should know how a typical scam works:

Almost certainly you have had pop-up ads waving “quick money” at your face while browsing the internet many times. One day, out of curiosity you decide to follow it up, and a nice-looking website shows up asking you to register. After sharing your personal information, a call from a broker will undoubtedly come, a broker with a once-in-a-lifetime opportunity for you. After a few minutes of him gabbing about it , you decide to deposit some $200-250. And just like that – the scammer snatches a nice $50 commission from the initial deposit.

However, brokers are surely aware they can get more out of you. They redirect you to the “retention” where next in line scammers begin working you into putting even more. After making the mistake of investing even further, you’ll begin wanting to get out of this and withdraw what is left of your account.

However, now comes the “recovery” part of the scam. After stating that you wish to withdraw your money, the scammer will begin pleading with you to wait it out, six months at the most. The angle here is simple – remove the last cover you may have – filing a chargeback with your bank. If six months expire, that option is closed and your money is gone for good.

What to do if scammed?

We wish no trader has to consider such circumstances, however, in the dire case you are scammed – it is much better knowing what available options you have in front of you:

You may contact your bank or credit card provider and file a chargeback, but only within six months of the initial deposit, as was noted above.

If, however, you have provided the broker with your credit card details, immediately cancel your credit card.

If you have given information regarding your online banking pass – you should switch it asap!

Beware of potential calls from self-described “recovery agencies”! They prey on scammed and vulnerable traders who are desperate and ready at anything to somehow recover their losses. They will say that in exchange for an up-front payment, you will get your money back, but no such thing will occur!

Rich Snippet Data
Review Date
Reviewed Broker
Brokerz.com
Broker Rating
11stargraygraygraygray

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19 Comments

  1. Have been scammed for these 250Euro, I just added to an account to see what it was about, they called me immediately before I had made the payment throw Visa. He was so fast, explained everything very friendly and very quick so I had no time to make any searches, and the side looked professional. I was only interested to take a look and have not bought anything, the other account manager called me in 15 minutes, send an email link and i no time he was in my computer throw this programmed link. And tryied to convince me to make a 5000 euro transaction for him, I didnt so he said he can take from his account 22500 and I can just make the transaction up to 5000euro so he can work on as trader for me. I just backed off and now I have asking them to pay my 250Euro back, they dont answer. And the point was, they were the whole time saying that It is as my own bank accoung, I can manage my money there however I want to. But there is no possibilites to get those money to my own VISA. And the support doesnt answer. All in 24 hours. Dont know what I should do?

    1. You may contact your bank or credit card provider and file a chargeback, but only within six months of the initial deposit, as was noted above.

  2. Non depositate su brokerz.com sono dei truffatori non restituiscono il deposito e ti fanno perdere tutto…Ladri spero che vi attestino tutti bastardi

    ========================
    Translated from Italian
    ========================

    Not deposited on brokerz.com are scammers do not return the deposit and make you lose everything … Thieves hope that all bastards will attest

  3. bei brokerz.com ist alles nur Betrug, sie sehen ihr Geld nie wieder, ich habe auch alles verloren, lesen sie in anderen Foren, jeder wurde betrogen und verlor sein ganzes Geld, halten sie sich von Brokerz.com fern
    ———————————-
    Translated from German
    ———————————-
    At brokerz.com, it’s all cheating, they never see their money again, I’ve lost everything, read them in other forums, everyone was cheated and lost all their money, keeping them away from Brokerz.com

  4. I have been scammed, Brokerz.com, I deposited the minimum £250 to see what trading was about, the web site tells you withdrawals are easy and actioned within 24 hours!! Rubbish do NOT deposit any money, YOU WILL NOT GET ANYTHING BACK!!. I tried to make a withdrawal which has never happened, so i decided to close my account, they said i would have to pay a small fee to close.The small fee is £120!!! I have not go any of my money back. Brokerz.com are a 20th centry ROBIN HOOD!!!. The web site should be removed as its a pack of lies. PLEASE DO NOT USE THEM YOU WILL LOOSE EVERYTHING.

  5. Translated from Italian:

    On the Brokerz website I applied for a withdrawal and after about 10 days it was still pending, I canceled withdrawal request and asked for a bank transfer, more than 10 days have passed and it is still pending, I look at the balance and without making any movement the 250.00 euro I had became 150.00 only god knows how it could have happened. I have no words to define you, but I have to do something, you can not get away with it, as soon as I can do a review against you (LEGALIZED LADRI) that no one else has to be fooled as happened to me!
    The money goes to get them to those who have them not to those who earn them honestly working for years to get some extra money!
    Shame on you, I hope that the money you take from citizens will spend them on medicines ……………
    L.D.

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    Original text
    ————————-

    Sul sito Brokerz Ho fatto richiesta di un prelievo e dopo 10 giorni circa era ancora in sospeso, ho cancellato richiesta prelievo e ho chiesto un bonifico, sono passati più di 10 giorni ed è ancora in sospeso, guardo il saldo e senza aver fatto nessun movimento i 250,00 euro che avevo sono diventati 150,00 solo dio sa come può essere accaduto. Non ho parole per definirvi, ma qualcosa devo fare, non potete cavarvela così, appena mi è possibile farò una recensione contro di voi (LADRI LEGALIZZATI) che nessun’altro deve più farsi fregare come è successo a me!!!
    I soldi andate a prenderli a chi li ha non a chi li guadagna onestamente lavorando anni per avere qualche soldo in piu’!
    Vergognatevi,spero che quei soldi che prendete ai cittadini li spendiate in medicine……………
    L.D.

  6. I couldnt close my account nor get rid from annoy phone calls from UK phone numbers. Contacted support and asked nicely to “F*** off” from my personal life and delete account with all its credentials. Month silence and spamm calls started once again…
    How to report or close such annoy company once and for all ? Report to Interpol or what ?

  7. mmabasotho monnawapula

    I was scammed by brokerz scam scam scams

  8. yes people these people are thieves. no one should ever deposit one penny because anything you deposit
    you will loose. I have lost quiet a tidy sum and i tried to get it back I could not get it then they deposited the same sum as was into my account. then they placed money onto 11 markets and my sum dwindled from £4500 to nothing in less than 2 weeks. now it is nothing. Funny there money is still there but not active. I wonder if I could claim back , I doubt that it would work. well hope brokers rats suffer from heart burn every time they eat.
    yours sincerely gerard

  9. Definite scammers!!!

  10. Marc Odriscoll

    Called today by 07921 927069. I questioned why the FCA have advised not to deal with them as they are not authorised and they had no response to my questions. Highly suspicious, unprofessional and clearly a scam

    1. What was the name of the person who rang you?

  11. I have also been scammed by these people. I was rushed into signing up before I had even had the chance to research them, thinking I would have a cooling off period and also because they had stated on the website that it was backed by Dragon’s Den I foolishly signed up, so the man on the phone would leave me alone! The next day I asked for my money to be returned but they have refused to give this to me. They just keep asking me why. I have now noticed a clause on their website about dormant accounts over 45 days get charged $100 per month, another con! which means you won’t get any money back as they will keep taking it. Stay away from this company, the people are horrible to you, they lie about everything in order to get you to sign up.

  12. Does anyone have any idea where to locate the customer service office?

  13. If my money (the full $250) isn’t back in my account within the next 7 working, their lives are not going to be worth living!!!

  14. I have deposited thousands what should I do?!

  15. I was stupid enough to deposit 250 Euros wiith them. I will never see any of it again.
    They are SCAMERS. Beware and don’t get involved.

  16. EC3A 5AW, 1-4 Bury Street, Holland House.

  17. The so called receptionist gave me this address. At the moment I am working with action fraud. They will be brought to justice!!!

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