CommerceWealth Broker Deceives Traders
30 / March / 22
Visitors: 525
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The broker CommerceWealth, which operates in the UK, is considered a fraudster with a spoiled reputation.
When we go to the official website of CommerceWealth - commercewealth.com , then we will read that the company under study provides services for operations on the financial Forex market in the UK. CommerceWealth also provides software for trading operations.
We looked at the CommerceWealth website, got acquainted with the terms of action, tried to get at least demo access to the services, looked at the existence of papers, the region of registration of the organization.
With the help of the information received, we will figure out: CommerceWealth is a fraud or not?
We will also tell you how not to fall for the hook of scammers, about their algorithms of work. We will provide the necessary information in order to keep the money safe.
The CommerceWealth organization is located in an offshore country
The main sign indicating that CommerceWealth are scammers is the state of registration. The organization is documented to be registered in the Marshall Islands, which is already suspicious, since the company operates in the UK. Offshore states are popular with scammers due to the lack of laws and supervision.
Moreover, this country does not have the authority to work in the Forex market.
In addition, when we tried to find the physical address, mentions of owners and management commercewealth.com , then failed to find anything.
This demonstrates that commercewealth.com - a criminal broker, working with whom can result in serious monetary losses.
No information about directors found commercewealth.com
Having studied the site, our experts have not been able to find plausible information about the management of the organization commercewealth.com . No physical address, no phone number or other means of contact.
As a rule, this means that the current leaders are trying to hide information about themselves in order to avoid punishment for crimes. Even if it turns out to catch someone from the CommerceWealth employees, then everything will end there, and the real directors of the criminal organization will remain free.
At CommerceWealth, the website is CommerceWealth, valid for less than 30 days
On the website commercewealth.com it talks about serious experience in the Forex financial market.
The main way to study a site is to obtain data about its domain name. As a rule, they record the expiration date of the domain name, the data for the communication of its owner.
In this case, the CommerceWealth domain name has been working for less than thirty days, and the data about the person who owns it is hidden. Another evidence that the director of CommerceWealth is trying to preserve anonymity.
Such an aspiration can be supported, but not when it comes to a financial firm working as an intermediary between a client and the Forex financial market.
At the same time, themselves commercewealth.com they assure their potential customers that they have been effectively trading on Forex for many years.
Commercewealth.com there is no demo period
It is a normal practice for brokers to provide clients with a demo version of services in order for them to familiarize themselves with the interface, to try their hand at playing the Forex financial market with virtual money.
Unfortunately, on the official website commercewealth.com , we could not find data about the test period, the opportunity to try the rograms.
Probably the management of the company commercewealth.com , is simply not going to provide customers with trial access to a paid service, as someone is able to suspect something is wrong.
Online Broker commercewealth.com valid with a negative score
Official firms that trade on the Forex financial market do not use a negative account in their work. According to the legislation, the trader of an online broker cannot spend more now there is on the account. In those rare situations when the account goes into negative value, it is not the client who is obliged to repay the loan, but the company that provided the services.
Therefore, honest online brokers do not use a negative account in their activities.
However, commercewealth.com provides clients with Forex transactions with a negative balance, that is, on credit.
Why is this necessary?
In order to drive the client into debt and start a loan. This is one of the most commonly used methods of deception used by bandits.
If this has already happened, it must be remembered that scammers do not have the opportunity to get finances in accordance with the laws of the UK. Absolutely all methods of influencing users are criminal. The most that bandits are able to do is to call, send threatening letters.
You cannot cooperate with CommerceWealth, because the agreements will turn into new losses.
commercewealth.com they operate with a credit ratio of one to four hundred or more
Already, it is obvious that CommerceWealth are scammers. Nevertheless, let's pay attention to another fact, namely the presence of an extremely large leverage.
The credit ratio is the ratio of funds of traders and brokers when making a transaction. This makes it possible to make significant trading transactions for traders who do not have the appropriate money with them.
In order to protect the clients of the Forex financial market, in civilized regions, laws require the use of leverage with a maximum ratio of 1 to thirty, sometimes fifty.
At the same time, CommerceWealth uses a credit ratio of one to 400 to earn money on the Forex financial market.
Such an attitude is allowed in Switzerland, since firms registered in this country enjoy considerable trust. However, CommerceWealth is not registered in this state.
In fact, CommerceWealth does not have the right to conduct Forex transactions with such a credit ratio, due to the high risk for users. Actually, this is used solely to force the client to transfer as much of his own money as possible, but also to drag him into loans.
Local CommerceWealth divisions
It is considered prestigious for every financial firm to have local offices in civilized countries, even if the work takes place exclusively in the UK. So CommerceWealth reports that in addition to an impressive number of awards, there are local offices in England, Australia and other developed countries, and in addition about a large number of experienced employees.
It is easy to check the reality of these divisions. Since there are specialized organizations that regulate the activities of online brokers. In England it is FCA, in Australia it is ASIC.
Accordingly, a law-abiding organization must have supporting documents from these or other structures that will confirm their ability to provide services for trading operations in the financial Forex market, regulate the level of responsibility.
And yet, after analyzing the profile sites, we did not find them. This once again confirms our fears.
For registration on commercewealth.com confidential data must be transmitted
As we reported earlier, CommerceWealth does not have a demo period and, accordingly, in order to gain access, it is necessary to immediately transfer the minimum payment to CommerceWealth criminals. In addition, get access to your personal account commercewealth.com, really only upon successful completion of identity verification.
This means that CommerceWealth requires customers to transfer such data as:
- Data about an individual (passport, birth certificate);
- Information about the permanent place of residence (payments for communal services);
- Information about qualifications, length of service, place of work.
In addition, at the initial payment, bandits are able to access bank card information.
In combination, this information can allow criminals to hang a loan on a deceived user, or implement other criminal operations.
Since for registration on the site commercewealth.com , it is necessary to transfer personal information, we have not received access to the CommerceWealth personal account and software for transactions on the Forex financial market.
Real reviews about CommerceWealth
An extremely important point of exposing CommerceWealth is to study the feedback of traders.
Studying the search results allowed us to get the following information:
- Most of the CommerceWealth reviews on the Internet are fake. These are template positive reviews and mentions of a custom nature;
- All real reviews about CommerceWealth are negative. Our employees were unable to find truthful reviews from users commercewealth.com, which mention a decent profit, productive work.
- Negative reviews are caused by criminal actions, theft of money, special debt creation.
In accordance with this, real reviews about CommerceWealth say that the Internet broker in question is a scammer.
Contact details and documents of CommerceWealth
After analyzing the information on commercewealth.com , we found a lot of questionable digital papers that can be easily done using a graphic editor. They are not confirmed by official organizations, which means you cannot trust them.
If an online broker is not affiliated with regulatory companies, then its clients simply have nowhere to turn for help.
On the "Contacts" page, our experts found a phone number. It turned out that it had already been used by an illegal broker. There are also many reviews on the web about fraudulent activities related to the phone number indicated on commercewealth.com .
Withdrawal of money from commercewealth.com
Are you going to make money with the help of an online Forex broker? Make sure that investments can be taken away from him.
Analyzing the client agreement on the CommerceWealth website, we did not see specific information about the methods of financial withdrawal. Also, our experts found a mention of fees for long-term inactivity of the account, while there was no data about their amounts. Since scammers do not work in the official field, it is impossible to cancel these levies.
Because of this, even if the user has finished working with CommerceWealth, they can call and spam with a demand to repay the fine.
How does CommerceWealth operate?
The method of finding customers, which uses CommerceWealth, also raises concerns.
Fake accounts on social networks are used for advertising, in which fake bloggers spread information about how they instantly managed to earn income by earning on Forex using CommerceWealth. Advertising profiles show expensive cars and jewelry, trips to resorts and other manifestations of a rich life.
They guarantee instant income, for which it is not necessary to study or put a lot of effort.
If a trader gets in touch with them, CommerceWealth managers report about the possibility of a quick profit, and also about some unique features of their programs that allow you to immediately get a solid profit.
After that, all sorts of manipulations go into work, making it possible to get as many deposits from the trader as possible. For example, you can create a fake profit in order to provoke you to invest more funds.
When the work on the Forex market will be unprofitable, the manager will recommend transferring more to close the minus.
CommerceWealth managers operate according to algorithms developed by qualified psychologists. They study information about the trader in order to put pressure on vulnerabilities, get more finance.
As a result, everything will come down to one of two ends:
- If you decide to pick up finances before you find yourself in loans, you will be charged, assets will be closed, and everything will be done to make you pay more;
- If you allow scammers to drive the balance into the negative, threats will begin, scammers will demand to pay a fake loan.
Another way to make a profit for CommerceWealth is to sell your confidential information to third-party organizations. Probably, as a result, it will be possible to get detailed information about you for a moderate amount of money on some anonymous service on the shadow Internet.
Surely, as a result of this, various scammers, managers, etc. will spam you. In addition, it is worth waiting for messages from colleagues commercewealth.com, which will offer a "return" of lost investments, of course for a fee.
Since CommerceWealth does not operate in a legal field and maintains anonymity, CommerceWealth will not be able to force a response under the law in the UK. The leaders of the fraudulent company are carefully hiding and, at best, law enforcement agencies will be able to catch one of the "employees".
Can I trust CommerceWealth?
No way!
If you are going to give the bandits money, then transfer it to a good cause.
Let's briefly list the evidence indicating that CommerceWealth are scammers:
- Lack of official registration;
- No demo period;
- Lack of information about the owners of the company;
- The phone was detected in illegal operations;
- Negative balance;
- The credit ratio is more than 1 to fifty;
- Negative reviews;
- False information on the website.
A detailed review of CommerceWealth is completed. It is clear that CommerceWealth are scammers.
For your safety, we have compiled a complete list of unscrupulous brokers.
