CFreserve Review – We Advise You To Avoid This Scam
CFreserve broker name was under the ownership of Imperial App Ltd. With headquarters in Bulgaria, we would expect some European regulations. But the reality was the complete opposite. There are numerous signs telling you not to trust this broker.
|Company||Imperial App Ltd|
|Warning||FCA, MFSA, CNMV|
|Spread||From 0.4 pips|
Regulation and Fund Security at CFreserve
Considering their headquarters we were checking the first Bulgarian FSC registers. Since that research didn’t bring us any results, we are getting back to the roots. Only Tier 1 group of regulators. But this time mainly European like FCA, CNMV, BaFin, and CONSOB.
After this, nobody with common sense should invest with this broker. Firstly, the company can’t back up any statements with regulations. Secondly, they don’t provide any funds protection measures. Thirdly and most importantly, you can’t file a complaint to any of these regulators for assistance.
Trading Software Available
CFreserve scam is not so good example in terms of trading software either. But at least reveals what scam brokers use as another dirty trick. There’s a big difference between third-party software and web traders. For example, let’s talk about Meta Trader. It provides cutting-edge technology, lightning-fast executions, mobile apps and numerous advanced features.
On the other hand, the web trader offered by CFreserve broker is nothing near that. Firstly, everything is run through the browser. So, you depend on your device specs and internet connection. Secondly, such software is eligible for back-end manipulations. Not to mention that mobile traders don’t have suitable options for themselves.
Account Types Offered
CFreserve broker didn’t think much about motivating its traders. For that reason, they don’t have any specific account type offer. There are only two options. Either you deposit the money and risk it all or you don’t. There’s no in-between. No demo account is available, not even a micro account. This leaves no space for traders to test their services and confirm if they meet the advertised trading conditions.
Even though the minimum is $250, that is still too much for a confirmed scam broker. Also, any CFreserve review reveals that the broker won’t stop on that amount. They will relentlessly try to extract more and more.
Instead, you should just be patient and look for the right broker. There are many out there with Tier 1 licenses and suitable options for beginners.
Deposit and Withdrawal Methods
Funding and withdrawing the funds is mainly a mystery with scam brokers. Even though they present one thing, it’s rarely that’s the only thing available. For example, CFreserve scam accepts the following payment solutions:
- Credit and Debit cards
- Wire transfers
As mentioned above, you can’t see any more information than that. So, processing time and fees remain a complete mystery. But at least we know what this broker is up to. Like many other scam brokers, they use a shady bonus policy to prevent traders from withdrawing money.
Generally speaking, it’s expected from a broker like this. So, how that works? The broker will offer you a motivating bonus. However, for every $1 bonus, you must reach a trading volume 300 times higher than your deposit. If you got a $100 bonus, that’s $75M if you deposited only $250. In general, if you can do that you have missed a profession.
How the Fraud Has Carried Out
Scam brokers are luring traders everywhere. Mainly through online ads and social networks. They even try to use LinkedIn to build up trust. But after the first deposit, very shortly traders realize what it’s all about. Already after one research of the broker, you can find the bitter truth.
All CFreserve broker reviews point out the same thing. This company is stealing money. Instead of providing genuine trading services they just use different tricks to make traders deposit more. But when those same traders require withdrawals they get blocked accounts.
But before that, they will try to extort more money. Mainly via non-existent requirements. Such as liquidity verification, taxes or withdrawal fees.
Get in touch if you want to find the best broker.
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Above all, if you need assistance in any fund recovery procedure we are available. Lately, we hear many traders sending money through crypto wallets. Such transactions are hardly traceable and anonymous. But not anymore since our team is equipped with CipherTrace. Book your first consultation to find out more.
CFreserve broker is not one for a recommendation. They don’t provide any security to their traders. Mainly due to missing regulations. In fact, they didn’t get so many warnings without a reason.
With shady trading software and trading conditions, there is nothing much to expect. On top of that, the malicious withdrawal policy says it all. The broker is there just to steal money.
FAQs About CFreserve Broker
Can I Trust CFreserve Broker?
No. Numerous European regulators are warning traders against this anonymous scam broker.
What Kinds of Accounts Does CFreserve Provide?
There are none. CFreserve broker has one choice for its traders – a live trading account.
What Is CFreserve Minimum Deposit Amount?
The minimum deposit requirement matches the industry average and starts already at $250.