Beware! GoldBachInvest is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
GoldBachInvest wants you to believe that this is a fully regulated and award-winning broker that provides securities for your funds. It sounds attractive for sure but the question is how much of what this broker claim is true. Here are the facts.
GoldBachInvest Regulation and safety of funds
If you are trying to select a legit and reliable broker to trade with, the first thing you should do is to check its registration and whether it is regulated. From the information available on the GoldBachInvest website, we understand that the address of the company is in Vanuatu which is an offshore zone for forex trade. Upon checking the register of the Vanuatu Financial Services Commission, we found out that GoldBachInvest does not exist in it. Therefore, GoldBachInvest is non-registered and non-regulated and possibly a scammer. Please be warned that trading with this broker will put your precious funds at risk of losing them.
With the sea of online forex brokers, we understand that it is not an easy task to select one that is legit and reliable. We can help you by providing some information and links for licensed and reliable brokers from some of the well-established jurisdictions from around the world, such as the US, the EU and the UK. First of all, let us tell you that in all these jurisdictions forex brokers are strictly regulated by the relevant financial services authority and all precautions are taken into consideration to guarantee the safety of clients’ funds. For example, EU and UK brokers must invest no less than 730,000 EUR in the form of an initial capital which among other things serves as a barrier against scammers. As you can imagine, scammers will never invest so much money just for the benefit of looking legit. In additions to that, clients’ funds are kept separately from broker’s with tier-1 bank establishments, there is negative balance protection, etc. One of the biggest perks for trading with EU and UK brokers is that they must participate and deduct funds towards a local compensation fund or scheme from which in case of bankruptcy clients can get reimbursed. UK brokers participate in the local Financial Services Compensation Scheme which can repay clients up to 85,000 GBP per client if the broker goes bankrupts. EU brokers participate in a local investor compensation fund which can provide up to 20,000 EUR per client if the broker becomes insolvent.
Although US brokers are strictly regulated as well, the trading conditions with them are different from those of their EU and UK counterparts. The first thing about US brokers is that they must be really well-capitalised and we are talking about investing $20 million in initial capital. Impressive, right? That is because in the US there are no compensation funds but by being well-capitalised, US brokers will be able to protect their clients in case of unfavourable events.
GoldBachInvest Trading software
GoldBachInvest is a forex broker trading in forex, commodities, indices, shares, cryptocurrencies and stocks. the trading software that clients can use consists of a web trader and MetaTrader 4 trading platforms. Below is the image of the MT4 platform. On the left-hand side, you can see the menu with the trading products given with their bid/ask price and beneath is the navigator for the accounts, indicators, expert advisors and scripts. In the middle are displayed 4 charts of 4 currency pairs showing the fluctuation in their price in a given time frame. If we look at the top-left chart, we see that this is the EUR/USD currency pair and from its bid/ask price we can calculate that the spread is 1.2 pips. We must say that such a spread is tight and beneficial for the traders as the cost of transactions won’t be too high and they will be able to achieve a sustainable profit.
On the other hand, there is no information regarding the parameters of the leverage that this broker has set up. Please be informed that non-regulated brokers and scammers tend to offer high leverage in their attempt to lure potential traders. However, trading with high leverage increases the exposure to risk for your precious funds and traders may suffer significant financial loss amplified by the high leverage. In the well-established jurisdictions that we mentioned in the previous section, leverage is limited to 1:30 in the EU and the UK and 1:50 in the US for forex currencies.
GoldBachInvest Deposit/Withdrawal methods and fees
GoldBachInvest offers 7 trading accounts – Basic, Discovery, Silver, Gold, Premium, VIP and VIP+. The minimum initial deposit for the Basic account is $200. The other accounts start at $2,000, $5,000, $10,000, $15,000, $30,000 and $50,000 respectively.
The existing payment methods for deposits and withdrawals include payments made via credit card, bank transfer, BPay, FasaPay and UnionPay. There is no information regarding what the minimum withdrawal amount is, only that it takes 24 hours to process a withdrawal request.
Also, you must be aware that similarly to other dodgy brokers, this one too offers bonuses. Bonuses are non-deposited funds which means that they are money belonging to the broker, not the trader and normally are subjected to some hard to fulfil requirements. However, on the broker’s website, there is no information on what exactly these requirements are. We want you to know that legit brokers do not offer bonuses or other incentives to their clients and this is how you can differentiate them from the non-legit ones.
How does scam work?
Scam works in different ways. It could be either that you receive an unsolicited telephone call or you see one of these flashy ads on the Internet or the social media promising you a quick and easy profit. Scammers will promise you the sky and the earth until you give way to temptation and deposit money. Once you give them money you get caught in the scammers’ mousetrap and the cheese in the shape of a big fat money fall is gone! It may take some time before you realise that you are being scammed. Scammers are smooth talkers and they are masters of deception. They will give you some excuses as to why the big profit hasn’t come yet and will try to lure you to make even a bigger investment because according to them, the more you invest, the more you profit. After you have been waiting for a while and you finally come to your senses, you realise that you are being scammed. All you want now is to get your money back and get out of there. However, the scammers won’t make it easy for you! They will try to delay you so that you miss the deadline for applying for a chargeback.
What to do if scammed?
There are a few things that you must do immediately – file for a chargeback if you have paid using a VISA or MasterCard. Those two payment providers allow you 540 days time frame within which you may file for a chargeback.
However, the chances are grim if you have used bank transfer or Bitcoin as a payment method. There is no chance you’ll be able to recover your money.
In such a desperate situation, some so-called ‘recovery agents’ may approach you with offers to recover your money for a fee. Be cautious as you may be dealing with another type of scammers. Always check the information about the recovery agency – make sure it is legitimate and transparent in the public eye. Also, some scammers publish personal comments after our review about how they have been scammed and how they found a recovery agent who helped them get their money back. Do not trust such comments and do not use the published contact info in them as it will lead you to another scammer!
And lastly, a reminder to cancel your credit card if you have given your CVV code to the scammers and erase any software from your PC that gives the scammer access to your personal data.
Radu
I managed to recover nothing I deposited around € 80,000 I saw that the site is fantastic. I was called at first by a lady who I think was in charge of collecting clients and then I was placed in the so-called Financial Investor named after ALVIN BISHOP and later at BOSS CRISTIAN I later saw that he is not a registered advisor. Yes, I saw that goldbachinvest has a red flag and it’s not good at all. But as I said, I saw later and the desire to make money faster only came true virtually. I first deposited 250 then 1000 after 2000 and then I reached 80,000 euros I was for a while on Meta Trader 4 then transferred to ALFAFINAL I had a capital of 411,000 serious thing for me. It all started in April 2021 and lasted until 30 12 2021 I had the opportunity to take several pictures on the phone screen with the sums of money. Now I asked my bank to send requests to the banks they work with and to be able to recover but then they Find the good ones to speak nicely and I naively kept asking for money from the capital, they started saying that in 48 hours they will arrive then that I will have to give another 20,000 to buy the bank my account and many credible lies. Now I find myself in an uncomfortable situation, I turned to authorized companies to find the real address from where I was contacted and they said they would find it via IP. I want to go and have a coffee with ALVIN and talk about good things. I don’t know where it will end, he will also address me to the Finance Police of Italy, Rome, where I live, and I will keep you informed. In the end I was trapped easily and they certainly made our money by sweating. The most important thing is for everyone to write about the lies of this GOLDBACHINVEST company and to be able to post this scam everywhere. Hello to all who read before investing because I read later but it was too late. Let’s start with the beginning, I would like to be as clear as possible .. Goldbachinvest will consume you money I did not manage to recover anything I deposited around 80,000 € I saw that the site is fantastic. I was called at first by a lady who I think was in charge of collecting clients and then I was placed in the so-called Financial Investor named after ALVIN BISHOP and later at BOSS CRISTIAN I later saw that he is not a registered advisor. Yes, I saw that goldbachinvest has a red flag and it’s not good at all. But as I said, I saw later and the desire to make money faster only came true virtually. I first deposited 250 then 1000 after 2000 and then I reached 80,000 euros I was for a while on Meta Trader 4 then transferred to ALFAFINAL I had a capital of 411,000 serious thing for me. It all started in April 2021 and lasted until 30 12 2021 I had the opportunity to take several pictures on the phone screen with the sums of money. Now I asked my bank to send requests to the banks they work with and to be able to recover but then they Find the good ones to speak nicely and I naively kept asking for money from the capital, they started saying that in 48 hours they will arrive then that I will have to give another 20,000 to buy the bank my account and many credible lies. Now I find myself in an uncomfortable situation, I turned to authorized companies to find the real address from where I was contacted.
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am reușit sa recuperez nimic am depus in jur de 80.000 € Am văzut ca site-ul e fantastic. Am fost apelat la început de o doamna care cred ca se ocupa cu recoltarea de clienți apoi am fost plasat așa zisului Investitor financiar care se numește după spusele lui ALVIN BISHOP si mai târziu la BOSS CRISTIAN am văzut mai apoi ca nu este un consilier înregistrat. Da am văzut ca goldbachinvest e cu steagul roșu si nu e bine deloc. Dar cum am zis am văzut târziu si dorința de a câștiga bani mai rapid sa adeverit doar virtual. Am depus mai întâi 250 apoi 1000 după 2000 si mai apoi am ajuns la 80 000 euro am fost un timp pe Meta Trader 4 apoi transferat pe ALFAFINAL Am avut un capital de 411000 lucru serios pentru mine. Totul a început din Aprilie 2021 si a durat pana la 30 12 2021 am avut ocazia sa fac mai de multe ori foto la schermul telefonului cu sumele de bani. Acum am solicitat banca mea sa trimeta solicitări către bancile cu care lucrează ei si sa reușesc sa pot recupera dar mai apoi ei Find bunii a vorbi frumos si eu naiv am tot cerut bani din capital,au început sa zică ca in 48 de ore vor ajunge apoi ca va trebui sa mai dau 20000 sa cumpere banca contul meu si multe minciuni credibile. Acum m-a găsesc intr-o situație deloc confortabila am apelat la firme autorizate sa găsească adresa adevarata de unde am fost contactat si au zis ca o vor găsi prin intermediu IP. Am dorința de a merge si a bea o cafea cu ALVIN si sa mai vorbim lucruri bune . Nu-știu-unde cum se va termina o sa m-a adresez si la poliția de Finanțe din Italia Roma de unde locuiesc si o sa va țin la curent . In final am fost tras in capcana lor ușor si sigur ei au câștigat bani noștri munciți cu sudoare . Cel mai important e sa scriem toți despre minciunile acestei firme GOLDBACHINVEST si sa putem posta peste tot aceasta escrocherie . Salut pentru toți care citesc inainte să investească pentru ca eu am citit mai târziu dar era prea târziu . Sa începem cu începutul,as dori sa fiu cât mai clar.. Goldbachinvest o sa va consume bani eu nu am reușit sa recuperez nimic am depus in jur de 80.000 € Am văzut ca site-ul e fantastic. Am fost apelat la început de o doamna care cred ca se ocupa cu recoltarea de clienți apoi am fost plasat așa zisului Investitor financiar care se numește după spusele lui ALVIN BISHOP si mai târziu la BOSS CRISTIAN am văzut mai apoi ca nu este un consilier înregistrat. Da am văzut ca goldbachinvest e cu steagul roșu si nu e bine deloc. Dar cum am zis am văzut târziu si dorința de a câștiga bani mai rapid sa adeverit doar virtual. Am depus mai întâi 250 apoi 1000 după 2000 si mai apoi am ajuns la 80 000 euro am fost un timp pe Meta Trader 4 apoi transferat pe ALFAFINAL Am avut un capital de 411000 lucru serios pentru mine. Totul a început din Aprilie 2021 si a durat pana la 30 12 2021 am avut ocazia sa fac mai de multe ori foto la schermul telefonului cu sumele de bani. Acum am solicitat banca mea sa trimeta solicitări către bancile cu care lucrează ei si sa reușesc sa pot recupera dar mai apoi ei Find bunii a vorbi frumos si eu naiv am tot cerut bani din capital,au început sa zică ca in 48 de ore vor ajunge apoi ca va trebui sa mai dau 20000 sa cumpere banca contul meu si multe minciuni credibile. Acum m-a găsesc intr-o situație deloc confortabila am apelat la firme autorizate sa găsească adresa adevarata de unde am fost contactat