Tessline is an online broker that claims to offer investment and trading services. Despite being an extremely obscure company with no official presence in any capacity, they peg themselves as an industry leader. The parent company behind Tessline is Tessline Limited, which operates out of Ireland. Despite this, the broker does not have the proper license from the Central Bank of Ireland to offer financial services.
Since we’ve received several complaints regarding Tessline broker in 2023, we decided to check out this illicit company. What’s new about the firm? Did they stay on the Irish warning only? Let’s take a closer look.
For a start, the Tessline website is currently inactive. The signup is impossible, as well as logging into your investment account. Both domains, tessline.com, and tessline.tech, have vanished into thin air, along with customer funds.
The majority of our complaints have come from:
Since the firm disappeared, getting your money back might seem daunting. However, don’t get desperate. Contact the Global Fraud Protection team of chargeback experts, and we’ll look into your case. We’ve made it our mission to assist scam victims and will keep doing it in 2023 as well.
Tessline claims to offer their clients the chance to invest in their managed portfolios. The broker makes very bold claims about their returns. They have several plans available, with higher deposits offering higher returns. The broker says that a $50 deposit will return 1.6 percent in just a month. A $3,000 deposit will return 2 percent in 25 days. They dare to claim that their VIP plan will give a 200 percent return on a $100,000 deposit in just 40 days.
While the broker has not had any legal action taken against them, or any evidence of wrongdoing brought forward, many aspects of their business are in line with how a Ponzi scheme operates. There is a strong emphasis on bringing in new clients, with an affiliate program that offers 21 percent commissions for referrals. Many online reviews from former clients claim that they could not withdraw any of their money from the broker.
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