Hi guys. I signed up with Bitcoin Revolution because I wanted to trade on an automated software. The very next day a guy called from Austria representing Galore.pro introduced me the platform Plutus.pro, their main branch. This is where I understood there was no automated software with the algorithm to trade risk free for me. The guy from Galore said Bitcoin Revolution software was to be implemented in Plutus.pro platform. The next day another guy called from London presenting himself as a manager and asked what do I expect from trading, how old am I and assigned me to a broker who called me the next day. All three guys were in their early 30s, 35 at max. The broker was very polite, introduced himself and asked me to introduce myself in a very professional and gentle way. He said people often sign up with them in search to solve their financial problem, close loans etc. Since I was in a difficult situation myself I shared my story and found the guy to be honestly touched by my situation. I tried to trade by myself, lost 8 Eur and he gently told me to let him trade for me. After 8 weeks or so having small account I found him difficult to deal with because my account was too small to be able to solve my difficult situation. I wrote to the compliance and after a huge letter of complaint, the higher-up of the broker called me and really engaged into solving issue popped up and far more than that.
So far so good relationship with this company but what bugs me is the fact that this broker is unregulated. I understand there are honest brokers whether regulated or not. But since I’m about to invest a lot with them having great offer from them, my question is does anyone have any experience with this broker? There are no reviews, no other comments or informations about them aside from their website.
Please share anything you know about them. Thanks.
Dont send them any money! Do NOT send them any money! It’s a scam. I hope you read this message in time.
I read it on time. Your answer implies that every unregulated broker is a scam. What’s your experience with this broker?
I just read what you wrote. How can a firm manage your money, trade your money and not be regulated. It doesnt make sense. You also said other than their website you can find no other reviews. How can a successful firm have no reviews or mentioned anywhere else. It doesnt make sense. I’m sure if I did research I’d come to the same conclusion. Dont send them any money. Save yourself the heartache.
What you say makes sense, not only in trading but every business. However, Hugosways is unregulated yet having satisfied customers.
Not to play the devils advocate, however regulated brokers cannot manage your money either, they cannot give you advice what to do either, they can only feed you news and articles, which is not that helpful.
Furthermore the crypto market is not regulated in general, it is still a grey area, so better make your own assumptions rather than taking someones word for it.
If anyone is interested into my experience with this company let me know.
This company operates in St. Vincent and the Grenadines, which is an offshore jurisdiction, with no regulation. You have to ask yourself, “Why would a company choose to operate offshore?”
They don’t even have an order execution policy on their website so you don’t know how orders are executed or how they come up with prices. How do they cover their risk?
How do you know your funds are safe? Are customer funds held separately from operating funds?
Not to mention they don’t support MT4 although that is not an indication of any scam, it is a major disadvantage.
No one has experience with such company. You can find experience from telegram groups, because that is where every bad company do their promo. Why not register with a nice broker, deposit money and do your trade. Use a broker that is more than 4 years old and has good reputation. I use Tenkofx, and it is good for various strategies.
What do you mean by nice broker?
They are possibly a scam. You better reconsider before sending any money to them.
Hi Rikk and All,
It is hopefully not too late.
I lost all my savings with this company, while my balance was increased on their site but they requested for more and more fund. When finally I couldn’t invest more, they easily informed that in this case they can only close my account with zero.
It is unfortunately true and I don’t know what to do.
Can you write more details perhaps?