TurboXBT broker is incorporated offshore. Since 2021 when they first registered they started targeting traders all across the world. However, TURBO TICKS TECHNOLOGY LIMITED is not one of those reliable brokers.
To understand exactly why to avoid such brokers, read this TurboXBT Review carefully. Don’t miss a thing because you might see the warning signs anywhere.
In the first place, the company offers binary options trading. These are widely banned in Europe because of huge manipulations. For that reason, traders should generally avoid it. But TurboXBT scam broker especially. The company is incorporated offshore under the laws of St. Vincent and Grenadines. Therefore, without a license.
On top of that, they claim to have a registered address in Seychelles. However, the FSA of Seychelles doesn’t have any records of this company. Neither does any other Tier 1 regulator. For example, FCA, ASIC or BaFin.
Don’t take these comments into consideration because it’s most likely manipulated like anything else on the TurboXBT platform. Anyway, if you found any irregularities while trading with this broker, let us know. Our expert team can help you get your money out.
Binary options are almost like gambling. TurboXBT company advertises quick money schemes because you can practically make a profit every 30 seconds. However, those profits are most likely fictive considering their web-based platform.
Similar companies often use the back end to manipulate market data and create the desired outcome. This way, traders are manipulated to either deposit more money or lose everything they have. The choice is yours if you will trade with this unregulated broker. We suggest you find a Tier 1 licensed one. But if you already got caught by these swindlers contact us immediately for advice.
Since 2021 the company was active worldwide. But most importantly, in regions where binary trading is forbidden. Some of the countries where their victims come from are:
Let us know where are you coming from and what’s your experience with this company. Yet, don’t hesitate to ask for help with the refund if needed.
In fact, turboxbt.com company offers quite poor trading software. It’s plain and basic web traders with limited functionalities. There are 3 timeframes you can choose. Practically, you decide if you will lose everything in 5 seconds or 1 minute.
Generally speaking, the instrument coverage seems quite solid. However, that shouldn’t trick you. Because even scam brokers can offer a vast of options. These include:
The TurboXBT app is available for everyone with only a $1 minimum deposit. Thus, web based app. However, there are no other transparent trading costs or Turbo XBT account types. So, everyone trades with the same unknown and shady trading conditions.
On the positive side, the company offers a demo account with $1000 virtual money. In general, it’s a good way to see why not invest in binary. Practically, once you invest either you lose everything or double.
At this point in time, the company doesn’t offer any bonuses. That would be a cherry on top of all their shady activities. Thus, considering their missing regulations you shouldn’t be surprised by similar offers.
Surprisingly, the only way to deposit into your account is through cryptocurrencies. With this in mind, you can forget about any withdrawals. Crypto transfers are hardly traceable and irreversible. That’s what scam brokers often use to hide their identities.
On top of that, there are no transparent fees or processing times present by the broker. Therefore, many things to manipulate and prolong the withdrawal process.
Primarily, you should share your experience with this broker. This way you can prevent other traders to get scammed. But also, you should let us know about more details so that we can advise you on the refund. Considering only crypto transfers as an available option, you might need our CIpherTrace software service. Get in touch with our expert team to find out more details!
TurboXBT is a binary options trading company operating since 2021 from St. Vincent and Grenadines but also with offices in Seychelles.
To sum it up, no. The company operates without any licenses, but also in countries where binary trading is banned for a long time.
The minimum deposit starts at $1, but the only funding method is crypto. Therefore, you can expect withdrawal issues. In such cases, you can contact our professionals for refund advice.
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