Beware! Get-Financial is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
We feel that Get-Financial tries to do something different with its website an interface but quickly falls into the monotony of imitation. In fact, the website comes equipped with many of the tropes of average forex brokers, and we slowly realized that Get-Financial is a perfect representation of what it tries to avoid: the painful mediocrity that plagues 90% of all brokerage firms. We may be getting over our heads here; Get-Financial might just be lazy. This matters not. What readers should focus on is what we are about to reveal. Please read on.
The registration process is a simple one, a little bit too simple for comfort. Once we completed all the required fields, the broker just wouldn’t let us continue. No matter how many times we clicked on the “Start Trading” button, our efforts produced futile results. For some reason, Get-Financial would not allow us to register. As always, we link this to the most common scam out there. The one that sees fraudsters utilize solicitation techniques to get as many users to invest. The entire scam has been explained at the bottom of the review.
What concerns us now is the fact that we have to rely on the website for all information for the rest of the review. This would not be a problem if the broker didn’t produce in us feelings of discomfort and suspicion.
The trading instruments are commodities, forex currency pairs, indices, stocks, and cryptocurrencies. Unfortunately, there are no spread values anywhere, nor is there a leverage cap indicated. We assume that these details are left for registered users. However, brokers should always be promoting their trading conditions because it’s through them that they get to attract a client base.
GET-FINANCIAL REGULATION AND SAFETY OF FUNDS
The Terms and Conditions mention, very briefly, that the broker functions under “international commercial law and/or industry practice”
Furthermore, all disputes will be settled according to the laws of Saint Vincent and the Grenadines.
Brokers have to be specific if they wish to convince users they are regulated. Stating that you are governed by international law does not bring us hope. Even if there are legislations that set ground rules for FX trading, the most obvious example being MiFID, a broker has to be regulated by a financial overseer in order to provide legal trading services. For once, Saint Vincent and the Grenadines does not have an FX regulator, so all brokers in the country are technically illegally offering FX services.
This information is more than enough for us to get the bigger picture. Get-Financial is UNREGULATED, and as such is a risk for all investments made in it.
There is no reason at all to invest in an unregulated broker. The best advice there is, concerning the choice of a broker, is to always check for a license. If the broker has an FCA and CySEC license you are off to possibly the best start, as these are some of the top regulators in the industry. Usually, legitimate FX overseers integrate a set of rules to each of its listed brokers. Brokers form an agreement with them to follow very strict guidelines. Furthermore, some agencies, like the FCA or CySEC, have compensation schemes that reimburse clients whose brokers have become insolvent. As you can see, a regulated broker benefits not only the brokerage itself, but the traders as well.
GET-FINANCIAL DEPOSIT/WITHDRAW METHODS AND FEES
We could not find a minimum deposit amount anywhere. The payment methods are hinted in the Terms and Conditions. They are said to be credit cards, debits cards, bank transfer, and an undisclosed number of e-wallets.
The minimum withdrawal amount is $50. Each withdrawal comes with a fixed $30 commission.
There are further mentions of fees and commissions throughout the legal documents. Be aware of these, for they can be applied at any time, as is common for illegal brokers. Once you deposit here, the firm has got you in its hold, and the more you have deposited, the tighter Get-Financial has you. For this reason, we do not recommend using Get-Financial. This is an unregulated brokerage, and should not be trusted!
How does the scam work?
If things feel uneasy or suspicious, then you are probably being scammed. Most fraudsters adapt the same scam structure, however, they might add their own little nuances. The point is, that if you think you are in a scam, then you probably are!
The first step is the online ads. These annoying pop-ups or side distractors are the essence of scammer brokers. It’s through them that the user is lured into the fake broker website. The link of the ad leads to a website or a registration form. Both require the user to write down his or her personal details, like email and telephone number. Do not give these away. The scammers will contact you if you give these details away, and will sooner or later try to charm his/her way into your wallet, by asking you to deposit.
After a deposit is made, and hopefully it isn’t, then the first step of the same is complete. The following step concerns the account manager, a.k.a the advanced scammers. These individuals are charming convincers, and if they succeed, it means that you have deposited a second time. This can go as long as the user keeps depositing. When suspicious arises, one of these things will probably happen: the broker will delete the account of the user without a reason; the broker will not allow for withdrawals, or the broker will keep finding ways to stall withdrawals.
What to do if scammed?
Filing for a chargeback is the best advice. VISA and MasterCard have prolonged their chargeback time span to 540 days.
If the deposit is made through wire transfer, then change your user name and password as soon as possible. Another step is to contact the bak as they might have a specialized procedure for such cases.
Another crucial advice: NEVER deposit in unregulated brokers through bitcoin or any other form of cryptocurrency. These payment methods are untraceable, meaning that once a deposit is made, it cannot be traced. The money is lost.
Last but not least. recovery agencies are definitely a scam. These programs, or whatever they call themselves, offer help for defrauded users…for a price. Once the fee/tax is collected, these agents disappear, leaving you at a bigger loss.
Rich Snippet Data