GlobalTrader365 Scam Victim? Our Review Explains How To Get Your Money Back
GlobalTrader365 is a SpotOption based broker and some of our followers have fancied their chances of making some profit with this platform. Before making any decision, it is highly important to see what really does it offer and how much are the chances of getting your money back via withdrawals…
GlobalTrader365 offers a long list of assets and options and it is common with all SpotOption based brokers. A good platform for the beginners but does it really bring something new for the experienced traders who have been looking for something creative?
We know that only the beginners appreciated SpotOption and the professionals always looked for something really different than the conventional approach. GlobalTrader365 scam alerts are also important to consider. Are you interested in this platform? If you are, this third-party review will make life better for you. We don’t want you to rely on rumours. We are committed to reality and truth so that our readers can make the right decision rather than losing their money in an attempt to score big.
Summary: GlobalTrader365 was most certainly a scam but thankfully it has since been shut down – however that is not exactly great news for the thousands that fell victim to the scam so what can you do if you lost money? Well keep on reading & in this GlobalTrader365 review we will show you how you can reclaim your lost funds.
GlobalTrader365 was mysterious right from the word go. The website didn’t have to-the-point information about the owner and the operator of the company. No physical address was mentioned on the website. A couple of phone lines were mentioned but later removed from the contact page. The clients were left with only one option, i.e. the email contact.
The platform offered more than 100 stocks and indices. In also entertained the clients with commodities and currency pairs. The options included High/Low, 60-sec, One-Touch, OptionsBuilder, and ProTrader. The website promises from 80% to 85% returns. But the truth is way different. It actually offered 71% returns on most of the trades.
The good thing is that GlobalTrader365 served with indices from Israel, Russian, China, Turkey, and Japan. The website looked nice and impressive. It was compelling and engaging for the beginners as well. The education content was also good and it featured eBooks and video tutorials.
GlobalTrader365 was NOT regulated. It didn’t stay in the spotlight or on the regulator’s radar though. Perhaps this is why the broker never cared about acquiring a license. In addition, it operated during the years when traders weren’t really worried about legal transparency. Things have changed now and we can’t even invest a single dollar via a non-regulated entity.
It was on February 2nd, 2014 when GlobalTrader365 bid the farewell. It was a silent farewell though! The traders didn’t have an idea what they’d see the next morning. Their accounts were suspended and it was followed by the inability to access the website. This was the moment when the clients realized that somebody had cheated on them. The illusion had been performed with utmost mastery.
The withdrawal processing had never been smooth or easy for the traders trading on this platform. The evaluation of the identity verification documents took ages. It was followed by multiple withdrawal requests because it was extremely tough to get your withdrawal request approved.
Whenever the traders submitted the withdrawal request, they were approached by the account managers who asked for more deposits. It was common with all scam brokers but when it happens to you, you feel it getting too late to be able to do anything.
You had to present the ID Card or Passport copy, the proof of CC ownership, a couple of recent utility bills, and photographs to comply with the KYC policy and anti-money laundering laws. This process took more than 3 weeks instead of 3 days mentioned on the website. The delay was followed by the 3 weeks for the withdrawal approval instead of 5 working days promised by the broker. It then happened that the traders were approached by the account managers who first tried to convince the traders to make more deposit and then used pressure tactics.
In the beginning, the website claimed that the broker doesn’t charge any withdrawal fee. It turned out to be another lie because each withdrawal request was then charged with $50 (regardless of the success or failure of the withdrawal). It was simply insane!
Is GlobalTrader365 a Scam?
Yes, the GlobalTrader365 scam was ruthless and elusive. The administration never cared about its clients. Nothing was explained about the owner and operator of the platform. It was not regulated and the company’s address was also hidden from the clients. What could have you expected? All these things are suggestive of a cruel scam artist.
Thank God, CySEC and other regulatory authorities have now become fairly alert. They serve with timely notifications and warnings. They even update the public even against the regulated brokers by publishing the details of the charges and penalties against the violation of any law. It has become easier to evaluate the legitimacy of a broker. We recommend you to only rely on the most transparent and well-established brokers rather than slipping into the ditch dug by the lucrative advertisements.
Scammed By GlobalTrader365? Reclaim Your Funds
Since publishing this GlobalTrader365 review we have come across numerous reports online from people claiming to have been scammed by GlobalTrader365 which is pretty alarming… However at the same time given that the broker was never officially licensed whilst alarming this is not entirely surprising to us.
We launched the guide in 2018 & to date it has helped thousands of people to successfully reclaim their funds from scam brokers and therefore if you have also lost money to a scam broker whether that be GlobalTrader365 or another one then we know it can help you too.
Here at Stopping Scammers the truth is that we’re not really big fans of online trading & we generally tend to recommend against it because we know there are so many better (and less risky) ways to make good money online.
It’s true that we’ve come across & exposed many scams here on this blog but in the process we’ve also come across many legitimate places that you can make good money with as well.
One of those places though has stood out from all of the rest & as a result we’ve given it the name of our number 1 recommendation for working from home. It’s help thousands (if not tens of thousands) to build highly profitable online businesses & you can get access to it for free using the link below:
I'm Lisa & I'm one of the researchers/writers on the Stopping Scammers team. I fell victim to a big scam myself in 2015 & now I help out here to try & protect others from falling for scams & losing money like I did back then. You can report a scam here.