Shift Holdings review – 5 things you should know about shift-holdings.com

Shift Holdings review – 5 things you should know about shift-holdings.com

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

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Shift Holdings is an offshore broker that offers trading in Forex, Indices, Stocks, Commodities and Futures. They have four types of accounts starting from a $250 minimum deposit requirement, and going to $50,000. The other differences are in the trading conditions – spreads from 2.8 to 0.1 pips and leverage from 1:100 to 1:400.

To open an account we had to provide First and Last names, Email address, Phone number, and Country of residence. At completing the registration process successfully we were redirected to the client area and received an email with the account credentials in plain sight – not a good practice in terms of security and privacy since email communications can be intercepted. The email contained also a link to “confirm your email address, and then you will be able to log in to your Shift Holdings account”, but we were already logged in.

Shift Holdings Regulation and safety of funds

The broker’s website is owned and operated by Share Oracle Ltd, with an address in the Commonwealth of Dominica. Dominica is an offshore jurisdiction in the Carribean that does not regulate forex brokers, which makes it an attractive destination for scam operations.

The Contact Info page provides a UK phone number and what looks like a placeholder for a registration number. Similar to the opening statement in the Terms and Conditions document, however, the registration number is missing.

We tried to find more information about this broker on the internet. For Shift Holdings there was not much data – it seems it is a newly-forged entity. Share Oracle Ltd, however, was a different story – there was a warning issued in May 2020 by the UK’s regulator, the Financial Conduct Authority (FCA), that the firm has been providing financial services or products in the UK without authorisation:

Although the alert is for a different website, the parent company and its address are exactly the same as the ones for Shift Holdings. This is a common scammers’ tactic – as soon as their website falls under the radar of authorities they shut it down, only to resume their operations under a different domain soon after.

Shift Holdings is big on words – they “adhere to the strictest regulatory standards, with the express purpose of … protecting the integrity of your account” and “are dedicated to ensuring that your funds are secure”. The question is which regulatory organization sets the standards the broker adheres to – a rhetorical question of course since it is clear that Shift Holdings is NOT regulated.
This is another common practice of scammers to quote requirements for licensed and regulated brokers with the aim of providing a false sense of security in their clients, but in the case of offshore brokers these are empty claims since there is no oversight over the compliance to these rules.

Top watchdog agencies, such as the FCA and the Cyprus Securities and Exchange Commission (CySEC), have very strict policies – Client Account Segregation requires that clients’ funds are kept separate from the broker’s operating funds. while Negative Balance Protection ensures that traders cannot lose more money than what they invested. Others include a Minimum Capital Requirement of 730,000 EUR in order to guarantee the broker’s good financial standing and participation in Compensation Schemes, which provide additional assurance for investors’ funds up to a certain amount (85,000 GBP in the UK and 20,000 EUR in the EU).

Shift Holdings, however, is an offshore, unregulated broker, so anything they say or promise on their website should be taken with a grain of salt. They may claim your money is safe with them, but we would not advise risking that.

Shift Holdings Trading Software

The broker offers the MetaTrader 4 (MT4) platform as a Desktop, Web and Mobile (Android and iOS) application. MT4 is the world’s number one platform, preferred by more than 80% of users. It offers an intuitive and user-friendly interface, sophisticated charting and analysis tools, as well as copy and auto-trade options. It can be further customized to create different trading strategies using its proprietary MQL4 programming language.

Shift Holdings also advertises their “unique web trader that has been developed only for [their] clients traders [and] offers outstanding customization, personalization, advanced charts, and technical tools.” We could not find this software, however, neither on their website, nor in the client area.

Shift Holdings Trading Conditions

With a MT4 Demo account we were offered a 2.7 pips spread for EURUSD, which is in line with what the broker advertises for their starter account. In the Trading section of their website, however, they list a considerably lower spread of 1.5 pips for this most traded currency pair.

Regulated brokers generally provide a spread of 1 – 1.2 pips for EURUSD; wider spreads make the cost of trading very high. They would guarantee hefty profits for the brokerage on the back of traders’ losses.

The leverage Shift Holdings offers is up to 1:400. Trading on such high leverage comes with significant risks, especially to inexperienced traders. Although in theory it allows for bigger profits, one may incur great losses too, often much greater than the invested funds. That is why, most regulatory authorities impose leverage caps for non-professional traders: in the USA it is 1:50, while for brokers licensed in the EU and the UK it is 1:30. The Australian Securities and Investments Commission (ASIC) also recently announced that from 29 March 2021 it will restrict leverage for major currency pairs to 1:30.

Shift Holdings Deposit/Withdrawal Methods And Fees

On their website, Shift Holdings claims to support different means of funding your account – credit cards, debit cards, wire transfer, e-Wallet, and more. Unfortunately, we could verify this in the client area because from the beginning most features there did not work due to the account not being approved. The only things that worked were SETTINGS to update profile and contact information and DOCUMENTS upload.

The minimum deposit amount is $/€/£250, which is more than double the standards of regulated brokers – they ask for $100 from the traders on average. The minimum withdrawal requirement is not so big, $50, but legitimate brokers rarely put a threshold on the withdrawal amount for their clients. Shift Holdings also claims they do not charge any deposit or withdrawal fees, or any commissions or fees on trades – something we cannot verify, however.

The broker offers bonuses, but with a big catch – in order to withdraw funds from an account that has been credited with a trading bonus, the trader will be required to execute a minimum trading volume of the bonus amount divided by 4 (four) within 60 days. This is a common scam practice to lure investors and it is prohibited by major regulatory organizations. Considering all this, we would advise our readers not to invest money with an unregulated, scam broker such as Shift Holdings!

How does the scam work?

The most common scams are quite simple and straightforward and involve a multi-level scheme that usually goes by the following scenario. Internet users are lured by the numerous ads promising quick and easy fortunes by trading in the Forex world. When they click on such an ad they are redirected to a website tailored to the continuation of these false pledges, which asks them to register with their personal information. This data is then used by the scam brokers who immediately start to work on getting them to make an initial deposit of $200 – $300 by making even greater promises of big profits.

Once the users make their first deposit, the scam brokers get a fat commission on it. Now the senior scammers enter the scene. They are smooth talkers who will not stop at anything to convince traders that they are on their way to become very rich, if only they follow their advice and deposit more money to trade with.

Sooner or later the users will start suspecting something is not right and will want to withdraw their funds. This will not prove very easy, however. The scammer will do everything to delay their requests, by persuading them now is not the right time, asking for additional documents, or referring to specific withdrawal clauses. This is also part of the scam since the con-artists are trying to delay the users from filing for chargeback with their financial institution, and they miss the time frame for such chargeback, traders will lose their money without a chance of getting it back.

What to do when scammed?

If you’re scammed you should immediately file for a chargeback with your credit card provider. Good news is that VISA and MasterCard recently extended the chargeback period to a year and a half in an effort to combat online fraud. If you deposited with bitcoin or bank wire there is not much chance.

If you provided the scammers with any bank account or credit card details, such as security codes or passwords, make sure to cancel the card and talk to your bank. Also, if you are being approached by any “recovery agencies” promising to get your money back for a fee, do not fall for that. This is a piggyback scam, using the vulnerability of recently defrauded people and their hope the fraud may be reversed, and it will not recover your funds. These so-called agents will collect their fee and you will never hear from them again.

Rich Snippet Data
Review Date
Reviewed Broker
Shift Holdings
Broker Rating
11stargraygraygraygray

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20 Comments

  1. I confirm the above opinion. SH are malicious scammers. It is a kind of brokerage “boiler room” operated by people from Eastern Europe speaking with a Russian accent. You have to avoid them from afar. I am surprised that the English services (SH allegedly also operating in Great London) have not dealt with them so far.

  2. A very accurate and true review. Shift Holdings is a Nava Gates clone, a subsidiary of Share Oracle Ltd. At P.O. Box 2290 in Roseau, Commonwealth of Dominica, there are even more bogus companies (eg, Business Compass Ltd, http://www.ukllp.com/contact-us/). These are all scammers and thieves. I was deceived by them, as well as hundreds or even thousands of other investors.Beware of these “brokers” like plague.

    1. I was also deceived, were you able to get your money back?

      1. If you have paid the thieves money via cryptocurrency (COINBASE, BINANCE …) – you will not get them back.
        You should do everything to get them into the hands of the police and publicize on the Internet that the SH are thieves (not only frauds).

      2. Inform FCA and Action Fraud in writing.

  3. Scammers!

    Stay away from them.

  4. Scam!Scam!Scam! Definately a scam. Stay away from this fraudulent scheme.

  5. People! Where is your vigilance? They are vulgar and greedy tricksters. CHEATERS, not a brokerage company. Notify the police (Action Fraud) and FCA. You have to exterminate SHs by all means, because so far they steal with impunity.

  6. I have ,in the last week, invested 300 Euro through Shift-Holding for the purchase of Bitcoins. I have just now read your report and would ask your advise as to how I can go about getting a refund. They are already suggesting that I increase my investment in order to get better results. Needless to say I now have grave doubts about proceeding.
    Jer Ruane. Ireland.

    1. If you have deposited money into a cryptocurrency platform, you are unlikely to get it back. Unless they (SHs) will pay you back (but in the case of thieves and scammers it is a rather unusual feature).

  7. Definitely a scam. Was just on the phone with them, I asked if I could have time to think about it and I guess there was no such option, he was very pushy so that along was enuff to end the call

    1. Very good move! They stole $ 40,000 from me (in November ’20 in bitcoin it was over 2; now its over 100,000 $). Avoid them!

      1. I have had over $75k misappropriated by Shift-Holdings apparently due to a malware problem on my computer which is operationally secure. My money has disappeared I will leave you to make your own mind up whether to invest with them or not.

  8. There are many different types of websites that you can access and report your situation, I appreciate what has happened is hard to accept especially if like me, the misappropriation of your funds have seen your investment suddenly disappear, especially when they try to blame me, HAH. I have lost in excess of $56,000 however, you can contact many organizations both authoritative and media to warn others of your situation. In the first instance I have contacted the POLICE (UK), FCA and FTO, a good site to contact is econsumer.gov, an international site, there is also http://www.interpol.int and various financial authority sites, all are interested to hear of your situation. Next you should contact as many media sites world wide as possible, they are on the net you just have to look for them and explain the facts not opinions. I took the opportunity to write down exactly what has happened to me from start to current date, with dates, recorded telephone conversations, documentation etc, once this is done, it is much easier to send the facts to as many organizations as you can, it is worth doing this and sharing/warning as many others as you can. I, for sure, will continue with this as I feel others should be warned of my experience with SHIFT-HOLDINGS and those associated with them.

    1. @alexsam, is there any way i can get in touch with you? My husband has been scammed by Shift Holdings too and is in the middle of the process. We are looking for help to get out of this situation and hopefully get our money back. Can you help us?

      1. Pretty,
        Best to keep personal details safe as these scammers can use them to their advantage. My advice to you is to inform as many authoritative organizations as you can, it is important that everyone who has been exploited by this parasitic organisation should inform the authorities. If you live in the UK, contact action fraud and FCA in the first instance, they are very helpful and the initial form to fill out will take you 15minutes, once this is completed and submitted you get a case number and you can then use their online web chat to discuss your situation. The same applies to the FCA, they are very interested to hear about your situation, if you live outside the UK then contact your local government authority and ask to report a Scam they will direct you, a really good site to contact is econsumer.gov, they have over 40 consumer protection agencies and again are very interested to hear about your situation, they also provide addresses for central europe and further, you can work through these. This is what I am currently doing at the moment and the response/replies have been excellent, I have been sending documents, recorded telephone conversations etc the more they have the better for them, once I have completed this I will then move to social media sites such as facebook, LinkedIn etc, there are also many other review sites to comment on to warn others of this company who exploit people and provide no return and of course the more people who contact the authoritative organizations within their country the better. Make sure you only deal in facts and not opinions, I have been dealing with Jaydon Mayers, Alex Borg and Ben Zaks.

  9. Shift-Holdings have misappropriated over $75k of my funds – saying I have a malware on my computer which is operationally sound and secure – I have not had any monies returned from them, I have informed Police, FCA and econsumer.gov as a start, I will let you make your own mind up whether you wish to invest with them or not.

  10. Scam.Scam.Scam.Scam.Scam.Scam. Stay away from these fraudsters.

  11. SHift- Holdings is a Scam!!
    You will be disappointed if you start trading at Shift-Holdings!!

    This is my experience with Shift Holdings!!

    1) The account managers Jayden mayers/ Tommy are very unprofessional!!
    the account managers manipulate your trades so that you lose your money and than you have to invest more money, lost a lot of money!!

    2)You are not able to withdraw your money! The account managers always have excuses to delay your withdraw request and not answering your mail of calls. You Will lost all your money!

    3. See on other websites( reviews) experience of other clients!
    Reviews are Bad!!
    Google “ review Shift- Holdings“ !!

    If you don’t want to lose your Money! Don’t invest your money in Shift-Holdings!

    Becare full

  12. Hi, I want to inform and warn you and others of my current situation with a company called – Shift-Holdings who are SCAMMERS. Shift – Holdings share the same address and the website they use is owned and operated by a company called Share Oracle. Both companies are registered in The Commonwealth of Dominica which is an offshore jurisdiction in the Caribbean that does not regulate Forex Broker. Share Oracle are an unauthorised Firm in the UK and have been registered on the UK FCA register since May 2020, FCA suggest that you do not deal with any unauthorised firms.

    I invested a considerable amount of money into this parasitic company with no return. After paying my initial registration fee of 250E to Shift-Holdings – account number – 2109764751 – Trader No – 92827 – I was contacted by Alex Borg who quickly built up a rapport and set up various systems on my computer, he demonstrated how quickly he could make money from my initial 250E investment by trading in BITCOIN, he also demonstrated how to transfer money from Shift-Holdings back to my cryptocurrency wallet and then onto my bank, albeit the amount, just one, was very small.

    Then came the big sell to invest more money, this is where Jaydon Myers got involved and looking back on the events this guy uses bullying tactics to get you to invest more which, unfortunately I did. I wish I had been more diligent before I invested with this Pond Scum.

    The amounts I paid with dates are –
    18-1-2021 – 250Euroes, Registration
    25-1-2021 – £15,288 GBP, – Investment,
    28-1-2021 – £9,800 GBP – Investment,
    5-2-2021 – £3,900 GBP – Insurance,
    17-2-2021 – £5,505 GBP – Insurance deductible Fee,
    18-2-2021 – £5,500 GBP – Account Closure agreement FEE.

    In my trading account there is/was $75,989 ( £55,219 GBP) this was a combination of the money I invested and so called profit Alex Borg had made by trading in BITCOIN. This is the amount I was informed by both Jaydon Mayers and Alex Borg would be returned to me, I have recorded telephone conversations and documents as proof. My funds have now been withdrawn from my account and are not showing anywhere, I have no idea where they are apart from being in the pockets of these individuals.

    The crux of my issue was when I wanted to withdraw my funds, First of all I had to pay a closure fee, (closure agreement) I paid the Fee and filled out the forms, Alex Borg made all the steps remotely online, again I have recorded proof of this and as I waited patiently for my Shift-Holdings funds to be returned to my Crypto wallet, I was informed by Alex Borg that they had mysteriously disappeared due to a malware issue on my computer. This was absolute crap, my computer was/is fully protected and operational and has since been independently checked. My funds had apparently been sent to a Bitcoin trading company in San Francisco, I was initially informed that my funds were now lost and that I would never get them back, then I was told by Jaydon Mayers I could get them back but in order to do this I would have to pay an additional 7% of my funds as a Fee to Shift-Holdings.

    I had phone calls from both Alex Borg and Jaydon Mayers, which I recorded saying I would get my money back once this fee was paid. I had another call from them that was a complete pantomime whereby Jaydon Mayers was balling and shouting at Alex Borg, all for my benefit, it was hilarious to be honest however, they both admitted that it was Shift-holdings fault and that I would get my funds returned to me, again I have this call recorded. Both Jaydon Mayers and Alex Borg admitted in the conversation that it was shift-holdings fault that my funds went missing again, I have this phone call recorded. Once I refused to pay anymore money and informed them that they should return my funds as it was their fault that it had apparently gone missing, which was absolute crap I heard nothing from them for two weeks despite repeated e-mails and signal messages to them.

    Then one day I got a phone call from a Ben Zacs, who states that he is now handling my case and that my money would be returned to my trader account the next day and that Alex Borg was off ill due to COVID. He stated that my funds would be returned to me and that all I had to do was fill out the withdrawal forms once again, having done this and submitted same to get my funds returned to me via my Bitcoin wallet, it took them a week to tell me that they could not transfer my funds by BITCOIN due to this mysterious malware issue on my computer. The only way they can transfer my money back to me is by bank transfer however, in order for this to happen they wanted me to pay an additional 11% Fee on my fund in Taxes for the bank transfer to them.

    I informed them that I won’t be doing this and that they should transfer my money via my BITCOIN wallet as there is no malware issue on my computer.

    I have heard nothing back from this unscrupulous company for more than three weeks, they do not answer my mails or my signal signal messages, this is apparently a tactic of theirs when they run out of excuses not to return your money and a tactic used by Scammers, their behavior is for sure unscrupulous.

    I have contacted the UK ActionFraud Team, FCA and econsumer.gov of this company who exploit people with no intention of any return, I would suggest that anyone who is thinking about investing money into this parasitic company to think very carefully before they do so and please read the comments made by others on the internet review sites as there are many, I wish I had been more diligent, be warned, these people at Shift-Holdings are nothing more than thieves and are the Scum of the earth.

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