Today we will talk about the financial intermediary Elect. It is rather difficult to call the service professional, since neither its services nor maintenance correspond to the level of a truly successful project. The company's proposals are very dubious. In general, these comrades have every reason to add to the black list of fraudulent brokers. That is why in this review we will analyze in detail the activities of the presented service and at the end we will draw the appropriate conclusions.
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Elect: is it possible to withdraw funds from a scam broker
Brokers cheaters Elect. Site analysis
There is not a single thematic section on the official website of Elect, in which one could get acquainted with the terms of interaction with the broker. The web resource of the intermediary is represented by the most primitive single-page, which includes:
- registration form with a link to the user agreement;
- key to enter the personal account for registered users;
- button to switch languages from Russian to English.
At the same time, it is impossible to register on the platform in question without entering a special promotional code. You can get it either from a referral or from project curators who are engaged in attracting new customers. That is, what do we see? The absence of a normal site and complete anonymity on the part of the broker. Most often, such resources belong to scammers. This makes it much easier for them to remain in the shadows, without attracting too much attention from the “reviewers” and law enforcement agencies, and besides, they can pass off their proposals as some kind of exclusive.
We are not casually started talking about scammers. Just a few days ago, on our portal binarybets.ru, we described a scam project with exactly the same site (if you can call it that), authorization and registration forms, and a user agreement. All he differs from our today's hero is the name. From this we conclude that Elect is the brainchild of serial scammers. The crooks once created a simple trading platform, which they simply rename and launch a new one as soon as it starts to collect a lot of negative reviews. There are also confirmed facts that charlatans have several similar platforms running at the same time in order to reach a large audience.
Fraud broker Elect: licenses, registration
Using the Whois service (screenshot at the beginning of the review), we quickly found out the real age of Elect. The broker was created only 46 days ago - 08/12/2022. At the same time, the company's ex-clients claim that the "barkers" of the project talk about great financial experience, international awards and other incredible achievements.
The intermediary does not even stutter about any legal aspects (registration, license, etc.) necessary for the legal provision of financial services. We cannot find out in which country the creators of this murky service are located. Its employees get in touch with customers through fake profiles in various instant messengers and social networks. They easily delete accounts and change phone numbers.
In search of information about our new friends, we decided to ask what the Central Bank thinks of them. Without his permission, no broker has the right to provide their services on the territory of the Russian Federation. The main domestic regulator did not deprive Elect of its attention and blacklisted the project, branding it as an "illegal participant in the securities market."
Brokers (scam) Elect. Legend
The project organizers do not inform about the name, type and main functional characteristics of the trading terminal used (with the exception of superficial information in the user agreement). Apparently, the broker uses its own trading software. Declared assets are represented by forex instruments, metals, commodities, stocks, indices and cryptocurrencies.
Trading conditions are partially specified in the provision "Categories of clients". According to the document, traders on the platform are divided into three groups:
- "Standard clients" - those who do not have professional skills and training. Trading replenishment - up to 10 thousand EUR.
- "VIP-Clients" - clients with experience, knowledge and qualifications. The account involves an investment of 10 to 50 thousand EUR and improved financial conditions.
- “Premium clients” are clients whose minimum investment capital starts from 50 thousand EUR. The lowest commissions and fees, as well as the maximum limits for opening positions.
Among the available methods of depositing and withdrawing money on the platform, one can distinguish: bank transfers, credit / debit cards, prepaid cards, systems - Neteller, OKpay, Perfect Money, MoneyВookers, ADVCash, QIWI.
Elect Fraud Broker Reviews
Although our new friend only started working about two months ago, this did not stop him from getting a lot of reviews. The vast majority of comments left by the broker's ex-clients are clearly negative. There are also single laudatory responses, only they are clearly written as a carbon copy to the order of the scammers themselves. Below you can see screenshots of some reviews.
Is it possible to get money back from a fraudulent broker? It is easier to prevent their loss by reading our reviews and checking the information that scammers post. If you have been deceived by the fraudulent Elect broker, leave comments under this article. Perhaps it is your review that will save someone from losing money.
Scam Brokers: How Elect Works
The scheme for deceiving Elect users is not much different from the algorithm of actions of other "scams". Users are lured into this dump with beautiful promises of easy money, comprehensive support, and a caring attitude. All these tales are based solely on the words of "advertisers" and have no practical confirmation. As soon as the crooks find a suitable client, they process it according to a well-established algorithm. Then the victim is given the necessary promotional code and allowed to top up the balance.
And you'll be lucky if the account is banned immediately. Most often, such rogues continue to milk the client for even greater expenses, arguing this with “serious trading on a normal account” or the need to pay any commissions, verification, insurance for withdrawing money. This can continue until the user realizes that he will not see the money, both his own and earned.
Results: fraudulent broker Elect how to return lost money
The "non-broker" Elect has nothing to do with real financial intermediation. The entire functioning of the site is based on the fact that its owners line their own pockets at the expense of naive traders. Literally all the facts of its existence indicate the fraudulent orientation of the project:
- lack of an adequate website;
- a minimum of information about the intermediary itself and its trade offers;
- anonymity of employees and management of the company;
- complete lack of a legal framework;
- systematically appearing negative reviews.
Withdrawing funds from a fraudulent broker Elect - not possible. If you value your own money, time and nerves at least a little, avoid any cooperation with the platform in question.
If you have become a victim of Elect and do not know how to return money from a fraudulent broker, leave your mail in the form at the beginning of the article. We will send you a step-by-step, illustrated plan of action to help you get a refund from a fraudulent broker.