Crib Markets really does seem like the next big thing, but instead all those looks and promises turn on their heads and completely ruin our fantasies. In a way Crib Markets does us a solid for if it were not for these telling signs we would be recommending the broker. Know, all we have to do is wrote a review of Crib Markets just like any other scammer brokerage review we have put out there.
After a quick registration, we were faced with one Crib Markets’ most alluring features- it’s user area. We would easily be mistaking this client portal for one belonging to a legit entity. However, there was one huge turning point.
At some point, we found out that the firm doe snot grant access to a trading software, not to us nor to anyone else. What does this mean for the firm? Well, for one, we can no longer thing of Crib Markets as a broker in any sense of the word, because by definition a broker is a company offering trading in various assets. Without a software, Crib Markets was stripped of these responsibilities.
CRIB MARKETS REGULATION AND SAFETY OF FUNDS
The broker tries to convince us that it is registered in the UK,, but how could we trust it with a simple claim when there is no evidence in support of this. The company is obviously not regulated by the FCA, meaning that its alleged UK-based operation are all illegal.
No further info exist in order to justify the broker’s actions, nor its intentions. And how could there be if all Crib Markets is doing is attempt to scam one user after the other. This frim is completely unregulated and a risk to all.
We challenge anyone to give us a reason to invest in an unregulated broker! Joke aside, there isn’t a bigger online investment risk than this. That is why it is crucial to always check the broker for a license, Make sure that the company appears in the regulator’s database, and if so, proceed. If not, make sure no move to the next broker.
Any UK, EU, US, or Aussie regulated broker will do, and there are also a heap of offshore regulators as well as international ones that do a great job. The choices are limitless, and there is no reason to lose hope if you happen on an unlucky streak of unlicensed brokers. Regulated brokers keep their promises of safety and fairness without compromising on the excitement of trading. Furthermore, the FCA and CySEC are famous for including compensation schemes with all their regulated brokers, plans that aid users at times when their brokers cannot pay its users back. The FCA guarantees up to £85 000, while CySEC guarantees up to €20 000 per person.
CRIB MARKETS TRADING SOFTWARE
The MT5 download link in user area redirects users to a potential virus site. We got a clear warning from our browse. However, we continued just to see if see were not missing out; the link goes to the website of WhatsApp, yes that app. We see no reason not to laugh at this inconsistency.
The website on the other hand had an MT5 download link. But once the installation was all done, the MT5 turned out to offer only the default MT5 demo account which comes as a practice account to all new users of the software. In other words, Crib Markets does not have MT5 trading servers of its own.
In conclusion, there is no trading software used here.
CRIB MARKETS DEPOSIT/WITHDRAW METHODS AND FEES
The user area clearly states that the broker accepets cash investment only. The depositing procedure consist of filling three fields after which the user is told that his money has been invested. Refer to the snip below:
We admit that we found out later that there was also a wire transfer deposit option, but it seems the user directly sends money to some bank account, which may or may not belong to Crib Markets. In essence, the user is encouraged to send money that he or she will never see again.
The website states that the minimum deposit requirement is $1 at one point in the website, and $5000 on another, $100 in yet another subpage. So, it’s obvious why we leave the minimum deposit question unanswered.
The withdrawal area was unavailable without first providing an ID, which is something that we are truly against doing.
The site has the following to say- the typical processing time is between 1 and 5 days, while the minimum amount it $10.
We cannot blindly trust this information; it’s obvious from the contradictions on the website between the details on the user area that the broker doesn’t really know how to cover its tracks.
Therefore we will say it one last time. Crib Markets is a risk to all and a scam!
HOW DOES THE SCAM WORK
Investments schemes rely heavily on online ads to help them progress and perpetuate their scams. Online ads allow for the creation of an illusory lifestyle that seems a few clicks away, whereas is reality such forged dreams are granted to a lucky few out there.
Entering the scammer brokerage website is like entering a candy store, where the candy actually tastes bad, and it leaves you with bad gums. These scammers will take all your money- as much as you give them. This happens by them contacting the user and soliciting him or her for deposits. The charming overtones are a must and the lies are endlessly delicious. They won’t let you put the phone down until an investment has been made, and they will go through their entire arsenal of lies and deceits to do so!
Investing for the first time is a thrill, and the broker will make sure that the feeling lasts so long as the user invests at least once more. The job of the retainers- those expert scammers- is to keep the client invested in the scam, financially, as long as possible. Again, the bag of tricks is full! They might even pay you back some just to create a false impression of a professional liaison. Scammers never lose sight of their goal- draining as much cash as possible from its invested users!
The point will come when the user will want to spend all that suspiciously easy-acquired money. Of course all withdrawal attempts will be futile, but there is nonetheless an ironic appeal to the ways in which scammer brokers lie their way through every canceled withdrawal request. Some brokers even might shut the entire website down, if they have felt that their financial goals are reached.
WHAT TO DO IF SCAMMED
Chargebacks are technically the most secure way of retrieving your funds, although many scammer brokers take precautionary actions to prevent these. However, it does not hurt to try! MasterCard and VISA have a chargeback period of 540 days.
Bank transfer frauds are harder to get around, and the only advice we can give you is to contact your bank and talk to them. Oh, and don’t forget to change your bank account user name and password.
All investments made by a crypto wallet can only be recovered if the fraudsters feel generous, which has not been observed.
There are also these ambiguous figures that will promise to track and bring your money back using some undisclosed tricks and techniques. Many desperate users trust these recovery agents enough to pay them an advance fee. Then these agents disappear with your money, leaving you even more financially hurt.
