FlipLiveTrade.com review – 5 things you should know about fliplivetrade

FlipLiveTrade.com review – 5 things you should know about fliplivetrade

Rating: 1

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

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At first we were not able to open the website of FlipLiveTrade.com directly because our browser warned us that it is a risk to visit it. But we had to in order to write the informative review, and show our readers just how scammer this broker really is. And oh boy, is it a mess of scammer elements and misleading details. It’s what we call the typical broken broker.

There were no encountered obstacles during our registration. The broker allows anyone into its client portal, which of course means that it allows deposits from just about anyone. The user area was shady, as expected. But the worst part was that there was no trading software to be seen. The number of brokers that have no trading platforms in recent weeks has tripled which indicates the rise of a trend.

Anyway, without a trading software there is no way for users to trade, thus making all trading conditions obsolete, including spreads, leverages, and tradeable assets.

FLIPLIVETRADE.COM REGULATION AND SAFETY OF FUNDS

What a mess we have here in terms of legal claims, Let us put it all into perspective. The broker claims to be registered in the United States and regulated by the US Financial Services Authority. But it also suggests that it abides by the European Markets in Financial Instruments Directive (MiFID), as well as being regulated by the FCA, BaFin, the French Prudential Supervisory Authority, and the The Comisión Nacional del Mercado de Valores (CNMV).

First of all, a United States broker is regulated by the CFTC and NFA duo of regulators that are the world’s most notorious license issuer. The US Financial Services Authority is a non-existing entity that does no good here. And moreover, only a handful of broker are regulated in the US; it’s a completely different endeavor to abide by the rules of the CFTC and NFA.

If FlipLiveTrade.com is both regulated in the US and in Europe that would make it one of the most impressive brokers around, and we would not be writing this review. But of course, FlipLiveTrade.com has lied about all its European legal details in much the same way that it has deceived about the United States license. The broker is not affiliated with any of the aforementioned EU jurisdictions, and if some way it was able to base its business there is has done so without legal permission.

FlipLiveTrade.com is completely unregulated and a risk to all! Do not invest here.

If you are investing in an unregulated broker better not invest at all; at least in the latter occasion you will not be ensnared in an investment scam that will not only take your money but will greatly waste your time and energy. Better yet, if you have the will to invest, and either are skilled at it or want to expand your knowledge, there is no better way to go than any of the EuropeanUKUS, or Australian brokers we have compiled for you. These are all regulated, and so are up to industry standards, but are also limited in the amount of freedom they can have by some of the top regulators!

FLIPLIVETRADE.COM TRADING SOFTWARE

FlipLiveTrade.com pulls the classic old move and instead of providing users with a trading software of any sort, it shifts to the scammer investment packages:

All three promise profit within an unreasonably short time frame, and all three are complete scams. Not only is the notion of free money completely senseless, but the question as to the origin of said money comes to mind. Investing in either one of these will bring you to financial loss.

FLIPLIVETRADE.COM DEPOSIT/WITHDRAW METHODS AND FEES

In the client portal there are two crypto wallets used as depositing methods. The minimum deposit is $50, if we are to trust the investment packages requirement, and we noticed that there was also a deposit charge of $1 + 1%. The exclusive presence of crypto payments means that once a deposit has been processed the user will never see this money again, for these crypto wallets are untraceable.

The only information we could find about withdrawals is that there is a $27 commission on each required request. And that’s all we could find for our readers. There is nothing further to expand on, not that it would have made any difference to us. FlipLiveTrade.com is an unregulated broker and a full risk to all investments!

HOW DOES THE SCAM WORK

Scams have surprisingly little evolved over the past decades since their inception. It’s basically the same principle being rendered through different sites and by a plethora of different agents.

The core remains the same. The broker tries to grab the client’s attention either by advertising false profit gains, or by directly contacting the user, who is the vastness of the internet let his guard down at some point and either provided an email or a phone number to some now forgotten source.

Should the user get contacted (or fall for the ads) he or she will be shown to the website of the investment fraud and promptly be pushed to invest, either by sweet talking representatives of the scam, or by the account manager which is also the one that keeps the whole thing in check.

The ultimate goal is to compel the user to invest once, and after that the trap is fully shut. The client already lost money, and any further investments are a bonus to the broker. All withdrawals will not be available, and even if the broker seems to be keeping a straight face, it’s all part of the scheme.

Sometimes the users will get a small teasing taste of profit, just so they are motivated to invest more. But after that one time is when most clients realize that something is wrong.

WHAT TO DO IF SCAMMED

The best thing to do is to file for a charge back with your credit or debit card provider, provided that you had previously invested via them. MasterCard and VISA have a chargeback period of 540 days, so its relatively easy to get reimbursed, and that’s why fewer and fewer scammer brokers are offering card payments.

An easier way to lose money is through wire investments. The only advise we can give you is to contact the bank as soon as the money has been lost (or when you realize you have been played). That and to change your bank account password and user name!

We come to the favorite investment methods of unlicensed brokers – crypto wallets. These are untraceable, and thus once a payment goes through it’s finished! There is no real way of getting one’s money back.

Also do not trust recovery agent or agencies promising to get your money back. These will fee you a hefty sum in return for their services, but as soon as you pay them they will disappear!

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