review – 5 things you should know about review – 5 things you should know about

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



Don’t put all your eggs in one basket. Open trading accounts with at least two brokers. is a Forex broker, which is much more than simply controversial. The information about this entity, coming from different third party sources, certainly put it in the list of the brokers that should be avoided. Find out many other interesting and at the same time disturbing facts about this offshore Forex broker in the full review. REGULATION AND SAFETY OF FUNDS provides us with an address in Saint Vincent and the Grenadines, and precisely in the infamous Suite 305 in the Griffith Corporate Centre, Beachmont, Kingstown. Many other shady Forex brokers, are actually registered in the exact very same address, including Fin Future, Commerce Wealth and Optical Invest, the last one being a proven scam!

On their Front page, however, they claim that the website is owned and operated by Widdershins Group Ltd, a company registered in the Commonwealth of Dominica. It is an anonymous entity, linked with AdamantFX, which is yet another controversial Forex broker, and a suspected scam!

Making it worse, states in its Terms and Conditions that the website is owned and operated by Mitz Holdings Ltd, a company headquartered in SVG, having the same address pointed at the Front Page. Also an Estonian company called Mitz Partnership OU is introduced as a Payment Agent. A red flag identified, a huge discrepancy of information between the different pages, stay away!

Mitz Holdings Ltd. is actually a confirmed scam, official warnings were issued against them by the Spanish financial regulator CNMW and the Belgian FSMA, linked with, which is one of its trading names! Here is an excerpt from the CNMV document.

Your funds are not safe if you make a deposit with, it is an unlicensed, unauthorized and unregulated offshore Forex broker, which is operated by a shady company that was blacklisted by CNMV earlier this year! Stay away and report immediately if someone representing approach you!

If you are looking for a reliable, true Forex broker choose between the CySEC(EU) and FCA(UK) regulated companies, which are the leaders in the retail Forex industry. The customer protection policy is placed on top of their priority list, not because they want to, but because they have to. In these jurisdictions the Forex brokers have to comply with many strict rules and regulations, such as minimum capital requirements of 730 000 EUR, personnel qualification standards, segregation of the clients accounts etc. There are also money protection schemes in operation, such as ICF in Cyprus and FSCS in UK, which guarantee the deposits of the clients. Under CySEC(Cyprus) supervision you can claim up to 20 000 EUR in compensation, while in UK under FCA you are guaranteed of even up to 85 000 GBP. Each EU member state is compelled to create and further operate similar insurance funds, which are seen to be the last resort for the traders, in case a Forex broker faces difficulties to meet its financial obligations. TRADING SOFTWARE offers to its clients MT4 accounts as well as the web-based Status Webtrader. MT5 accounts are not included. We registered fairly easy and downloaded the MT4 Desktop distribution, but it was malfunctioning, as we were unable to open neither Demo, nor Real trading account.

Status Webtrader is a rather anonymous platform, which is kind of primitive and definitely incomparable to Metatrader, but we’ve actually seen it many times before. It is a web-based software offered by many dubious Forex brokers, including Capital Funds, Investactive, ZurichTradeFinco, Finansa, Marketsdock, Mercuryo and Solutions Markets, just to name a few. Some of these brokers are a confirmed scam, such as Capital Funds, for example, which was honored with a warning by FCA in Britain and CONSOB in Italy.

The spread offered by is 3 pips, which is way too high compared to the rest of the Forex brokers. The maximum leverage possible is 1:200, which is a level not allowed in EU or UK. ESMA, the european security markets regulator, launched a product intervention in the retail Forex market, imposing a leverage cap of 1:30, as a customer protection measure. The data showed that the traders and investors with little or no experience tend to be attracted by the increased leverage, which results in greater losses for them. Choose a true Forex broker, is a scam and you should avoid it! DEPOSIT/WITHDRAW METHODS AND FEES

The minimum deposit with is 250 USD. There are only two funding methods possible, direct payment through their own payment system using credit or debit card, and a Russian online wallet called Piastrix.

There is no minimum withdrawal specified, also no fees determined in size and scope. The withdrawal requests are said to be processed within 4 to 7 business days.

An account is considered inactive if the trader hasn’t logged in, or traded for 6 months. A deduction fee of 10% per month is applicable, which is a ratio totally unacceptable, no true Forex broker is going to pillage your funds so ruthlessly!

Each account is subject to at least 30% deposit bonus upon registration, the sum transferred automatically after the opening. However, if you want to withdraw profits you have to reach a minimum trading volume of 30 times the deposit amount plus the bonus issued! It is a requirement quite difficult to fulfill, creating stress because of the push and in reality worsening the trading performance. EU and UK banned the bonuses for a reason, the records showed that the trading incentives greatly increased the losses in total among the traders!

No partnership programs were found.

The Non-deposited funds are the most interesting part, however, which partly include the bonuses given. It showed us that does allow indebted account and you can actually lose much more than you have ever expected!



A group of scammers usually operates many different scam brokers, scam websites and call centers. Sometimes they will simply rely on the quantity, they will publish tens or hundreds of websites and will just wait for traders and investors with little or no experience to bite. Nowadays, it’s very cheap to create one, and it looks like a profitable strategy, as they carry on doing it.

Fraudsters are working in the social media nowadays, an increasing number of scammers will first introduce their “services” to the people through Facebook or Instagram. You will click on a page, promising a lush lifestyle if you follow their example, they will contact you, probably offer you a demo account and after some time you will be tempted to invest and make guaranteed profits. Once you are signed-up they will ask you to deposit money and this is just the beginning, because gradually they will be asking for more, no matter if you lose or make profits. The end is always the same, a robbed-off investor who lost his hard-earned money.


No one is immune to scam, anyone can fall into the trap. Scammers are constantly looking for new and different ways to scam consumers. What you need to do first, in case you got scammed, is to protect yourself from further risks. Contact your bank and explain to them your situation, they will give you important instructions to follow and will help you, if possible, recover your money.

Report what happened to you, file a complaint, contact the financial regulator, contact other government institutions related to trading and investing. Seek help actively!

Share online your experience, it is important to protect others, as well. Be responsible!

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UK, Australia 4.85/5 $50 Click for a special offerWebsite
Cyprus, SVG 4.8/5 $100 Click for a special offerWebsite

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