Robexcoin Review – Is this Broker a Scam?

Robexcoin Review

With the number of online brokerages rising with each passing day, anyone who wants to trade in the financial markets will not have a shortage of options to choose from. But, the quantity definitely does not mean quality because scam platforms have also multiplied in the markets.

This is not a big surprise, given that huge amounts of money are involved in the financial markets and this is all the motivation scammers need. Most people are under the misconception that identifying scam brokers is very straightforward, but this Robexcoin review will show just how mistaken they are.

Sure, there was a time when you could identify scam websites because they were poorly made and clearly lacking in many ways. This was because setting up a good and professional website required expertise and resources, but times have changed considerably.

These days, setting up an exceptional website does not take any such effort, due to which scammers are able to create such convincing fronts to lure people in. Other than the website, they are also smart enough to offer features and services that are bound to draw people in.

Therefore, despite awareness of their existence, countless people still fall into their traps. When you want to trade in the financial markets, you do not want to hand over your money to these scammers. In order to ensure it does not happen, you need to go beyond the website of a broker, check out their claims and verify them to ensure they are what they claim to be.

Doing so can help you avoid disaster in case the brokerage is a scam. This approach should also be used in the case of Robexcoin that presents itself as a reliable brokerage, giving people access to crypto trading.

The popularity of cryptocurrencies has resulted in thousands of brokerages popping up, most of which are scams that want to take advantage of the lack of awareness and knowledge of people about crypto. This is exactly what Robexcoin does and some of the telltale signs that it is a scam are discussed here.

Absence of license and regulation

Most jurisdictions require online brokers to be licensed and regulated in order to provide their services to people in the region. This licensing and regulation is a guarantee that the company you are dealing with is authentic and complies with laws and policies that ensure customer protection.

You do not have to worry about the company disappearing overnight because it there is full disclosure about who is running the operation and other relevant details are also available.

This does not apply in the case of unlicensed and unregulated brokerages, most of which turn out to be scams. Hence, the key to staying safe from scams is to check a broker’s licensing and regulatory status.

When you do the same with Robexcoin, you will be in for a rude awakening because for all its claims, it does not have a license. In fact, it does not even pretend to be regulated, which makes it a disaster waiting to happen.

Essentially, Robexcoin is a virtually anonymous broker because you will not even find an address on their website. This means you have no clue where they are based and no way to check their regulatory status. It could disappear without warning and you will not be able to do anything about it because you do not know who is behind it.

Lack of competent trading software

The most important feature of any online broker is their trading software because this is what you use for making your trades. Without this software, there can be no trading and it also provides the technology and tools needed for playing it smart.

Thus, you should always check what kind of trading software is available because most of your experience depends on this feature.

A look at the trading software provided by Robexcoin will leave you disappointed because it does not offer you any of the leading choices in the market. The MT4, the MT5 and the cTrader are some of the top trading software in the market that have gained recognition because of their spectacular features and advanced technology that can help you trade efficiently and profitably.

The software that you find on Robexcoin comes nowhere close to these because it is a web-based one that seems more appropriate for a crypto exchange than a broker. It does not provide any such technical analysis tools and is severely lacking in other areas as well.

Obscene leverage levels

Leverage is an important aspect of trading and is considered very lucrative because it allows you to make bigger trades even if you do not have a lot of capital. However, it is vital to remember that leverage is a double-edged sword. While it can be quite profitable if the trade goes your way, it can also multiply your losses.

It is one of the reasons why many regulatory bodies have imposed a cap on the leverage ratios that can be offered to retail traders. As far as Robexcoin is concerned, it promises you leverage as high as 1:100, which is extremely dangerous even in normal circumstances and is not permitted by most regulatory authorities.

What makes it worse is that Robexcoin is offering this leverage for cryptocurrencies, which are already highly volatile and this makes it downright dangerous.

Only crypto deposits

Since it is catering to crypto traders, the fact that Robexcoin offers crypto deposits should not be a big surprise. The problem is that they are not offering any other payment method and this makes it a red flag.

Crypto payments have become popular amongst scammers because these are final; there can be no refunds because no chargebacks are possible, as in the case of credit cards. Plus, they are also relatively anonymous and this benefits these criminals.

Bottom Line

All of these are telltale signs that Robexcoin is a scam platform and not a legitimate or reliable crypto broker that it pretends to be.