Beware! Ultimate Financial Solution 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.
Ultimate Financial Solution is an alleged broker that is supposed to bring you money. And that’s as far as our nerves for this scam will go. Just by the name you can detect that something is definitely wrong. Just as a mind play, would you ever think to find a legit entity bearing a name like this? We didn’t think so. What we are left with is a scammer broker, a very typical one that does nothing special. Read on for more.
To make matters worse, for the broker that is, to us the following made our job easier, is the fact that the website is a one-page thing, meaning that all the details that we found are contained within a single, and quite limited section.
Moreover, we were never allowed in the user area because the broker did not verify our account. There are may speculations to this, the main one being that Ultimate Financial Solution does not want us in.
Anyway, according to the website, the available assets to trade with are forex currency pairs, shares, commodities, indices, and “others”. What these latter ones are we have no idea. The leverage is capped at 1:200, and the minimum spread starts from 2.2 pips (not a good value) on all accounts, but then why have accounts at all if there would be no difference in their products?
ULTIMATE FINANCIAL SOLUTION REGULATION AND SAFETY OF FUNDS
Ultimate Financial Solution seems to be located in the UK, if we are to trust its certificate of incorporation and it’s UK address, we have to rewrite the whole review. But this is a big “if”, since Ultimate Financial Solution is actually not regulated in the UK by the FCA. As one of the biggest regulators in the world, the FCA would never even consider Ultimate Financial Solution. So, either the certificate of incorporation is fake (or forged), or Ultimate Financial Solution found some loophole. What ever the case might be, Ultimate Financial Solution is not legally allowed to provide FX trading servcies in the UK, and it thus unregulated there.
Moreover, there are no legal documents, making matters worse for users, registered ones. There is nothing protecting them from the scammer moves of Ultimate Financial Solution, and without legal docs the broker can do whatever it wants.
So, Ultimate Financial Solution is a scam and an unregulated firm, making it a risk to all! Do not invest here.
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.
ULTIMATE FINANCIAL SOLUTION TRADING SOFTWARE
The only sign that Ultimate Financial Solution offers any kind of trading platform is a single picture of web trade, and that’s pretty much it. There are no details to explore the elements of the web trader, nor any actual proof that it really exists. So, why should we conform to Ultimate Financial Solution’s shallow promises?
ULTIMATE FINANCIAL SOLUTION DEPOSIT/WITHDRAW METHODS AND FEES
The website reveals that the minimum deposit requirement is $200 or $250, Ultimate Financial Solution doe snot make it its mission take make this detail clear. The promoted payment wallets are popular e-wallets, credit cards, and debit cards. Just as a reminder, crypto payments are untraceable and thus lost for good.
And that is basically it in terms of payment information. Ultimate Financial Solution choses the worst route, that of remaining silent. It’s definitely got something to hide, and we have a pretty good idea of it is: the fact that none of the withdrawals will be processed and that the broker will perpetuate these request as long as possible and it the meantime try to steal even more money from the user. It’s simple scammer broker stuff.
Ultimate Financial Solution is not worth investing in. Everything you send it its way will be lost with no way to get it back.
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.