Beware! GwbintLltd.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.
When we looked to GwbintLltd.com we felt as if thought we had already reviewed this broker. But this was not the case, and after some reflection we came to the insight that this firm might very well be a clone of some legit broker. It just feels familiar to us. But anyway, what matters here is the nature of the company at hand, and this is where the following review will come into play. So read on to find out all about this shady brokerage.
We were able to open an account very easily, which is actually a foreboding sign to what’s to come, meaning that GwbintLltd.com does not care who logs in. So long as deposits keep a rolling, the broker will be happy!
The scammer user area is just that, and we never expected anything better. But by far the worst part was the trading software, or lack thereof. Without a trading software, the promoted assets, spreads, and leverages are completely unapplicable and complete lies!
GWBINTLLTD.COM REGULATION AND SAFETY OF FUNDS
There is obviously something very shady going on with this broker. First of all, it really feels like a copy of some legit broker that we cannot put our finger on, but one that definitely exists as a legal entity. This we are sure of.
And then there are the false and misleading regulatory claims made by GwbintLltd.com. It refers to the MFSA, FCA, BaFin, AMF, and CONSOB, and proclaims to be regulated by them all! Which of course is completely false. Neither of these powerful European regulators have ever heard of GwbintLltd.com, and even if they have, it would be an act of professional suicide to license it. Things are made even more unacceptable when the claim that the MIFID legislation is also applied to GwbintLltd.com. Pure lies, of course.
Then we find a very arbitrary statement that the broker is actually, or also, regulated by the US Financial Services Authority. This authority doe snot exists, and is a made up commission. Scammer brokers tend to provide fake and made up information, and this is a very typical example of that. So all this is is a last attempt by the shady GwbintLltd.com to convince users it is regulated, whereas is reality the firm is not licensed and a risk to all deposits.
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!
GWBINTLLTD.COM TRADING SOFTWARE
The user area present the following:
We do not know what this really is, but we are user that it is not a trading software. It’s more like an unrelated chart that is there to fill the otherwise empty space.
The website promotes the MT5, but this is only an illusion at this point. There is no trading software here!
GWBINTLLTD.COM DEPOSIT/WITHDRAW METHODS AND FEES
In the client area we get the most accurate payment details, and it’s not pretty. For one, the only payment methods are based on a Bitcoin and an Ethereum wallet. And so, this means that all deposits will be lost within the untraceable network of shady crypto transactions. The only real way to get your money back is if the broker reimburses them.
There is no minimum deposit, in that the client is open to invest as low as $1. All the deposit details on the website are very contradictory to the ones we find on the website; basically, GwbintLltd.com lies about offering additional payment methods and higher investment caps! This is common behavior for a fraudster.
There are no withdrawal details anywhere to be seen. We have no idea what the processing times are, nor if there are any fees. Speaking of commissions, the legal documents reveal the presence of charges, none of which a fully expanded on. So all we know is that there are additional fee, but have no idea when or how they apply.
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!