RoboTradersHub.com review – 5 things you should know about robotradershub.com

RoboTradersHub.com review – 5 things you should know about robotradershub.com

Rating: 1

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

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RoboTradersHub.com cheats its way to users’ hearts with a very shallow website that only real novices can mistake for the real thing. This review is dedicated for these peeps and those that are unsure whether to invest in RoboTradersHub.com or not.

The registration process was over as soon as it begun. After opening a web trader, we came across a EUR/USD spread between 1.8 and 2 pips. Again we are faced with the predicament of discrepancy between the site and the user area concerning account types. When opening an account we were never asked to chose an account type, while on the user area there is no seeming option to change our account tier. Yet, the website advertises three separate account types, falsely claiming them as active.

Nevertheless, there are commissions on 2 of these three accounts. A $5 per side for the standard account type – increasing the spread with 1 whole pip to whatever asset the commission applies – and $4 per side for VIP accounts – adds 0.8 pip to applicable spread.

The 1:200 leverage cap is one of the most commons one. What’s not common is the inclusion of a single asset type: forex currency pairs. The website promotes other assets but we have already established an obvious disparity between user area and site.

ROBOTRADERSHUB.COM REGULATION AND SAFETY OF FUNDS

We have a Privacy policy claim that states the broker to be regulated by the Financial Services Authority (FSA). This FSA does not exists, and either RoboTradersHub.com mistook it for the FCA, or the broker has not idea what it’s talking about. Either way, a fake and completely useless statement. And just to get it out of the way, the FCA does not license this firm.

The other ridiculous claim comes from the website where we are told that the broker is actually licensed by the Financial Sector Conduct Authority (FSCA) of South Africa. This is a regulator like any other, maybe a bit more permissive than, say, some European or US-based regulators. However, just like these, and others, it has a database with all licensed brokers and we can say that RoboTradersHub.com is nowhere to be seen there.

Last but not least, another definite sign of the broker’s illegitimacy is the terms and conditions, which contain nothing but bonus conditions: terms on how to complete bonus trading requirements and the like. In essence, there are no legal, turning RoboTradersHub.com into an even more dangerous broker.

RoboTradersHub.com is without a license and a risk to all.

Unless you wish to throw your money away for no reason , there is absolutely no incentive for investing in unlicensed brokers. In fact, you would be doing them a big favor by funding their further fraudulent projects. If you wish to trade real FX and CFD with regulated brokers, looks no further that those that are regulated, especially in well known locations such as Europe, the UK, the US, or Australia. The regulators there are pedantic to a ridiculous degree and will do everything in their power to uphold the rights of the user and the integrity of the market industry. It is within their power to penalize brokers and demand client compensation, as well as to set industry standards and introduce new rules and regulation.

ROBOTRADERSHUB.COM TRADING SOFTWARE

In all honestly, we actually quite like this web trader because it seems legit, albeit limited.

We consider this to be the perfect software for any rookie to grasp the essentials on, and then move to a different, more advanced, terminal.

But its usage by RoboTradersHub.com does not make it worse, however it does not improve the broker either. The company remains illegal and a scam!

ROBOTRADERSHUB.COM DEPOSIT/WITHDRAW METHODS AND FEES

From the user area we could access only a  crypto-based wallet. Apparently the other methods – that should be under a different payment tab – are simply not there to be used by clients. Take a look at what we mean:

Crypto deposits remain the sole entry. Please note that crypto-based investments in unlicensed brokers are untraceable and almost impossible to get back.

According to the site, the minimum deposit is $500, twice the industry average.

The withdrawal area was not available without making a deposit first. Unfortunately, there are no withdrawal details on the site meaning that users are left in the dark. This is normal, for scammers rarely allow their clients to withdraw money.

RoboTradersHub.com is after all unregulated and a huge risk to all investments.

HOW DOES THE SCAM WORK

Getting scammed usually happens without you knowing it. It’s a deceivingly simple process that owes its success precisely because it seems so avoidable.

First, there is the matter of getting in contact with the broker which happens in one of two ways. Either it contacts you, or you it. If it calls, it means that somewhere in your net journey you accidently left a phone number or an email address. Or you were persuaded by the broker to contact it, which is why many scammer brokerage sites looks so appealing.

The hardest thing to achieve, for a fraudster, is to convince a user to invest an initial deposit. Prior to this a certain level of trust must be built, centered around a false sense of rapport. The broker will fake an interest in the user and in the process talk about market and profit opportunities, as well as investment choices. It’s all a part of a retaining strategy that will keep the user invested for at least a couple of thousand dollars, on average, until, eventually, he realizes the scammer pit he has fallen in.

When this happens, the broker will seize all contact with the user, and might even block the client from the website. It will go to great lengths not to return a single penny of the user’s money.

WHAT TO DO IF SCAMMED

The first thing you should do it to file for a charge back. That’s if you have invested by means of a credit or debit card. MasterCard and VISA have a chargeback period of 540 days giving users more than enough time to try to get their money back.

Wire transfer deposits are not as easy to acquire, and the best advice we can give you is to set up a reimbursement strategy with the bank leading the transactions. Most banks have strategies put in motion when these circumstances are met. Furthermore, if scammed via a wire transfer, it’s best to change your bank account user name and password.

Unfortunately, all crypto deposits are most surely lost for good. These transactions are untraceable and therefore once they reach the scammer end it all depends on the fraudsters if you see your money back or not.

Lastly, do not trust recovery agents or agencies. These are either separate scammers trying to get a hold of any leftovers, or can even be an extension of the brokerage scam.

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