Beware! ChintLlc 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.
ChintLlc opens with a very simple website that immediately told us all we need to know about this broker. The rest is just proof that we were right from the start. What are we trying to tell you? Well for one, a legit broker would never go around looking like ChintLlc. And then there is the issue of the rest of the broker, outside its scammer looks. All we found is basically textbook unlicensed broker behavior. Read on to find out all about this.
The registration process was very easy and simple, so much so that it was suspicious. It asked from us only an email and a password. Within literal seconds we were given access to one of the worst user areas to day. It was as if the whole thing was designed in minutes and executed for even less than that. The result was not only a very incompetent client portal to its core, but also resulted in a complete lack of a trading software. ChintLlc is one of those scam. There are no applicable spreads, financial assets, or leverages. In fact, ChintLlc is not a broker in any sense of the word.
CHINTLLC REFGULATION AND SAFETY OF FUNDS
ChintLlc presents a contradiction that need to be covered. We find a very forged NFA certificate on the website suggesting a US regulation and incorporation. Moreover, in the footer it has been claimed that the firm is regulated by the NFA. This is perhaps the most ridiculous statement any shady broker can make. The US is by far the most regulated FX nation in the world, with only a handful of very big brokers operating there. Furthermore, the NFA is not the only regulator in place; all US based brokers need to be regulated by both the NFA and the CFTC. ChintLlc is not regulated by wither one. Moreover, the certificate is forged and completely fake.
Furthermroe, the footer also claims a FCA license, which at this point is complete bull. ChintLlc is nothing more than a complete scam and a risk to all! It is also fully unregulated!
It would be a big shame to lose all that money to scammers. By registering and investing in an unlicensed broker, you are indirectly throwing your money away for a completely futile and illicit cause. There is no reason to do so. That is why we urge our readers to rely on European, UK, US, or Australian brokers, or any licensed entity for that matter. Licensed entitles are covered by hundreds of requirements, many of them apply financial compensation schemes, and anti fraud practices. In other words, they are the exact opposite of what this broker and others like it stand for.
CHINTLLC TRADING SOFTWARE
There was no trading platform. We couldn’t find a trace of one either in the user area nor the website. In fact, a download link for an alleged MT4 software leads to a completely different company owned MT4. Thus the servers on this MT4 belong to a different entity, be it illicit or not (it matter not in our case).
CHINTLLC DEPOSIT/WITHDRAW METHODS AND FEES
The client area gives us only one crypto payment methods, a direct to USDT/ETH wallet, where the minimum requirement is $1. The withdrawal area claims the minimum to be $100 for withdrawals.
In the legal documents we find some talks of withdrawal fees. The broker says that it reserve the right to charge a client’s withdrawal if the number of withdrawals exceed the maximum number of monthly withdrawals. The fee in this case is $10, but it does not state the threshold. Furthermore, all bank transfer withdrawals may be charged by a fixed fee of $6. There is also a $50 PayPall and Skrill withdrawal fee. Moreover, of the withdraw amount is lower than the minimum, $100, the broker will issue a $10 commission.
We don’t see how these fees will apply to the broker considering that the only payment method on the user area is a crypto based one, and not a very popular. So all those fees pertaining to alternative methods and bank transfers might not apply; ChintLlc does not know what it is doing. These types of contradictions are typical for scammers.
There are many other fees mentioned, very few of whihc are actually detailed in a way that reveals them. Essentially, ChintLlc can charge fees at any moment; just another reason not to bother with this scam!
HOW DOES THE SCAM WORK
Generally, the first step to being in a scam, whether a user is aware of it or not, is to bridge the crucial gap that exists between a user and a broker. With legit entities rarely does this go beyond the limits of formality, whereas with scammers they will try to behave as close friends, and will try to sell you as much as they possibly can.
It easy to fall prey to their sweet talk, because as financial instruments grow more complex, so do scammers, and there are surprisingly advanced swindle techniques that will leave you empty handed faster than you know. So make sure to think before you act, and to ask for professional guidance if necessary.
Contact usually begins at the online ads level, and expands to the telephone line relatively fast, depending on how good the scammer is and how susceptible he or she is to manipulations.
The ultimate goal is reached once a scammer successfully causes an initial deposit to be invested. Once this happens the user has become the victim, and from then on the fraudsters will try to retain the client for as long as possible, draining him/her along the way.
On average, it takes 2 to 3 deposits for a user to realize that something very unlawful is happening. By that point however, the broker will cut all communications with the user and will deny all withdrawal requests.
WHAT TO DO IF SCAMMED
The most common action to take is to file for a chargeback, but this happens only if the user has invested with a credit or debit card. That’s why you don’t get many investment frauds taking card payment nowadays. But the good news is that, if money was invested via a card, the chargeback period for MasterCard and VISA is 540 days.
Wire transfer deposits are harder to get back, and the only thing we recommend is contacting the bank to sort things out if possible. Oh, and make sure to change you bank account user name and password ASAP!
Crypto transactions are lost for good, unfortunately. As cryptocurrencies become more numerous and the systems underlining them more complex, scammer are taking full advantage of these aspects, and the end results are very lucrative. So, never trust unregulated brokers with crypto payments.
And then, we have to mention the other type of scammer, the recovery agents. These are either third party fraudsters or extensions of existing swindles, and will provide the seemingly impossible service of tracing your lost money. All they need is a fee for their effort, a sum of money that will be lost once paid.
