Inbitservice Review – Why Should you Avoid it?

Inbitservice Review

There is an increase in traffic in the financial markets of late for a number of reasons. The global coronavirus pandemic has created a lot of difficulties for people and many have turned to this space for generating money. This obviously means that more and more people are searching for brokers to start their trading journey online. The good news is that you will find a ton of companies offering their services, but this Inbitservice review shows that not all of them are cut from the same cloth. Many people assume that this means some are very professional and quality companies, while others might be mediocre.

However, in the world of online trading, you have to move with caution because there is another category to be found and that is of fraudulent brokers. Yes, there are companies that are scams disguised as good platforms and most people don’t learn the truth until it is too late. Of course, by then they have already suffered from losses and it can be extremely disappointing. No one wants to end up in such a situation, but how can you avoid it? The best way to go about it is by taking a close look at the company in order to see if their story checks out.

On the surface, most online brokers appear to be quite similar and make some big claims when it comes to offering you trading services. This does not mean that they are actually offering you what they promise. While this also happens with some genuine companies, but there are some flaws that you cannot accept because they show that the company you are dealing with is not authentic. Hence, you need to take a close look and ensure you are not considering such a brokerage.

Unfortunately, you will find that Inbitservice is exactly that kind of broker and should be avoided completely. Why? Let’s take a look:

It is part of a serial scam

The first indication that you are not dealing with a genuine company is that Inbitservice appears to be part of a serial scam. It is the modus operandi of scammers to create a bunch of similar websites, so they will have backup when one of them is exposed and shut down. If you compare the website of Inbitservice with another broker called Bithore, you will discover that they are completely identical. The only difference is in the logo and nothing else. Considering that Bithore has already been proven as a scam, it is enough reason for you to avoid signing up with Inbitservice.

It is lying about its regulation

When you search for ways to avoid getting scammed by a broker, you will be advised to always choose a regulated one because this can ensure your safety. Regulated brokerages comply with laws and policies, are transparent and offer quality services, or else they can be reported and shut down by regulatory authorities in their respective jurisdictions. When you check out Inbitservice, you will find that the company claims to be operating from the United Kingdom.

This comes off as a good sign because the UK is one of the well-regulated jurisdictions in the world. Its regulatory body i.e. the Financial Conduct Authority (FCA) is recognized as one of the strictest regulators and a license from them is extremely valuable. The problem is that when you search the online registers of the FCA, you will find that Inbitservice is nowhere to be found.

This means that either it is operating illegally in the UK, as it clearly does not have a license, or it does not have an office in the UK at all and is lying to fool people into thinking it is a regulated entity. No matter what the situation, you should avoid Inbitservice. It should also be noted that the brokerage is offering crypto CFDs, which have been banned in the UK by the FCA due to their volatility, so it cannot get a license.

It lies about its business model

Things get worse when you continue looking into Inbitservice because you eventually realize that it does not seem to be offering CFD trading services at all, despite claiming to do so. When you check out the trading platform that the brokerage is offering, you will see that it offers you the option of buying and selling crypto assets. The problem is that it does allow you to trade the cryptocurrencies against each other and it does not offer any leverage for trading either.

Moreover, once you make an account with Inbitservice, you will unearth further problems with its business model. It appears to be offering investment plans to its clients with guaranteed daily returns. This is a clear scam because no one, regardless of their expertise or experience, can guarantee any kind of returns from the financial markets. These are known for their unpredictability and volatility, so no returns can be promised.

If there was a way of making these returns, why wouldn’t the people behind Inbitservice invest their own money and make profits for themselves, instead of offering to make money for others? When something seems too good to be true, it usually is.

It does not offer chargeback

There are already enough reasons for you to avoid Inbitservice altogether, but if you need more, then all you have to do is look at their payment options. Once you do that, you will realize that you can only deposit your funds via cryptocurrencies. This might seem like a modern payment option, which is becoming quite popular, but it has also become popular amongst scammers. It is because crypto payments are final and there can be no chargeback, as in the case of credit cards like VISA and MasterCard. You will not be able to get a refund if there is a problem and your money will be gone.

Bottom Line

These are some excellent reasons for you to avoid opening an account with Inbitservice because it is yet another scam and cannot offer you good services.