Beware! PilotGain.com 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.
PilotGain.com is a very bad and inadequate attempt at soliciting users, that has nevertheless left a few people victimized by its schemes. In many ways it’s the exemplary unlicensed broker, and therefore this review will be useful to those that don’t yet know what a common FX scam feels and behaves like. For now, things are not looking all too bright for this one, and as you will see they never will. Read on for more.
The shady registration process did not end too well for us. We were told that our credentials were already used multiple times, even after trying different ones, meaning that PilotGain.com does not want us is. This tells us that the broker does not accept uninvited guests, and so PilotGain.com is one of those scams that picks its victims rather than letting anyone in. It’s one of several other techniques employed by scammer to get what they want.
The website, as the last resort, reveals that the available assets to trade with are forex currency pairs and CFDs, but these have not been identified. There are no spread or leverage values disclosed anywhere.
PILOTGAIN.COM REGULATION AND SAFETY OF FUNDS
PilotGain.com states that its services and website adhere to the Bulgarian laws, which as a statement in and of itself is rather useless, unless the broker gives us further affirming details. The one that we can think off as being the most useful is, of course, a confirmation that the broker is regulated by the Financial Supervision Commission of Bulgaria, otherwise the legal claim would be irrelevant. As it turns out, the watchdog does not include the broker in its databank, and so PilotGain.com is not regulated in Bulgaria. Not only that, but the broker never actually claims to be regulated in Bulgaria, nor anywhere else for that matter.
That’s all the legal details we have for you. Yet, we noticed something else worth mentioning, and that is the inclusion of both AnyDesk and TeamViewer, two platform that, if allowed to, can lead PilotGain.com to all the client’s files and passwords. So, whatever you do, do not grant PilotGain.com access to these!
PilotGain.com is very unregulated and a huge risk to all!
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 European, UK, US, 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!
PILOTGAIN.COM TRADING SOFTWARE
We were not clear in the introduction to the review, but here it is. There is no trading software used by PilotGain.com. In fact, there is no real proof of a software anywhere, unless you consider a short web trader promotion as enough proof of one.
The truth is that there are no links to this web trader, nor any downloadable terminal to be found. So, we are left with yet another so called broker that does not have a trading software. And thus, we cannot call PilotGain.com a broker anymore, since the defining aspect of it has not been included.
PILOTGAIN.COM DEOSIT/WITHDRAW METHODS AND FEES
On the website we find that the minimum deposit requirement is $250, which is quite average. The next thing we find out is that it takes up to 3 days for a withdrawal request to be processed., and then it may take up to five days for the funds to appear in the client’s account. But these are , to us, false promises.
And that is all the payment details that we have for our readers. There are no further withdrawal details, nor any indicated payment methods. It’s really worrying, because there is no current proof that the user returns investments, and judging by its lack of a license clients will be left without a return of investments. So there is no reason to deposit of trust this broker.
PilotGain.com is a scam and a risk to all. Leave this one be!
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!