We got to admit, EliteShareBroker made quite a compelling presentation on a polished website. However, we managed to see right through the cunning disguise.
All of our observations and findings are here in the thorough Elite Share Broker Review. If EliteShareBroker contacts you, be sure to read our review before accepting any shady offer from the broker.
We discovered nothing but lies. EliteShareBroker is not regulated, first and foremost. How do we know? It’s simple – since this website claims that the Elite Share Broker Trading Service LLC is incorporated in Saint Vincent and the Grenadines (SVG) and New York, US, we checked the registers of the respective financial market regulators.
The US National Futures Association (NFA) has no such entity in its database. As for SVG, the local Financial Services Authority (FSA) also has no information about that company.
Furthermore, EliteShareBroker claims to be licensed by the UK’s FCA since 2019, which is also a lie. We checked the FCA’s register and got nothing. Therefore, EliteShareBroker is an anonymous website and nothing more.
Having issues with Elite Share Broker? Global Fraud Protection can help you get your money back. Get in touch with us!
For this section, we decided to go to Trustpilot and see what traders think about EliteShareBroker. There are not many EliteShareBroker reviews there but we did find a complaint. This unfortunate trader perfectly explains how the EliteShareBroker trading scam works. Have a read, if you will:
Scammers are using this website to defraud people.. anyone giving this full stars is a part of the scammer game…
Lies, lies, lies – the main driver of this scam. EliteShareBroker uses sweet talk and lies to persuade clients to invest as much money as possible. Remember the fake FCA license?
When it comes to finding victims, the scammer is active on Twitter, Telegram and Facebook. Those are the means of communication, in addition to a phone number and email. EliteShareBroker’s scam mainly relies on embezzling clients’ deposits or eventual profits.
Who are EliteShareBroker’s victims, i.e. in which countries do they reside? After doing some research, we found out that the majority of the financial swindler’s users live in the following countries:
As we already pointed out, Elite Share Broker is not registered in the United States, meaning that all services the broker provides there are illegal. The same goes for both India and Germany.
An “award-winning platform that is used by traders from around the world.” EliteShareBroker sure did put in considerable effort to advertise this mysterious platform and yet, did not reveal which platform it is.
EliteShareBroker, on the other hand, does not support valid third-party trading software. Neither does the broker provide a mobile trading app.
According to the bogus website, EliteShareBroker offers the following trading instruments:
No, because there is no demo account option. By demo account, we’re referring to a type of account that allows traders to simulate the real trading environment with specific conditions but without using real money.
EliteShareBroker does not support risk-free trading for a trial period. That’s bad news, implying you’d have to open a live account straight away.
You would thus be risking a lot of hard-earned money. All legitimate and licensed brokers offer a free demo account for starters.
The leverage advertised on the website goes all the way up to 1:100. This level is pretty high and risky, i.e. a double-edged sword, which could go either way. Odds are, you will lose big time.
As for the fees, EliteShareBroker simply promises “low” fees. The only concrete amount mentioned on the website is 0.001%, presumably charged on trades per lot.
The whole Elite Share Broker payment process is vague. There is no legal documentation or a deposit & withdrawal policy we could refer to here. The minimum deposit and withdrawal amounts and related fees were not disclosed either.
Allegedly, traders can open an account for free, which is really shady. If you fell into this trap, please let us know. Even legitimate brokers charge a certain amount for allowing traders to open accounts.
The point of our review is that there are many fallacies and fraudulent details regarding EliteShareBroker. This scam broker targets traders mainly from the US, Germany, and India.
If you happen to reside in any of these countries, beware! Also, if you need help with the chargeback process, Global Fraud Protection can help you. Book a free consultation with us and our team will explain to you how the chargeback process works. You must act quickly though.
Here you can book a free consultation and find out what to do for a start.
Elite Share Broker is an anonymous trading platform with no regulation. Do not invest money in this scam. If you already have, please contact us for help.
No, Elite Share Broker lied about being regulated by the UK’s FCA. Elite Share Broker is not found in the British authority’s database.
No, Elite Share Broker does not offer a risk-free demo account for trading.
Elite Share Broker is an anonymous trading platform with no regulation. Do not invest money in this scam. If you already have, please contact us for help.
No, Elite Share Broker lied about being regulated by the UK’s FCA. Elite Share Broker is not found in the British authority’s database.
No, Elite Share Broker does not offer a risk-free demo account for trading.
The post Elite Share Broker Review: Is This Platform A Profitable Solution? appeared first on Global Fraud Protection.
