Tvbit is a forex and CFD broker that has been accused of being a scam. The company is unlicensed and unregulated, and there have been numerous complaints about its trading and customer service.
Company Overview
Tvbit claims to be headquartered in St. Vincent and the Grenadines, but there is no evidence to support this claim. The company’s website does not list any contact information for its management team, and its social media pages are inactive.
Team
The Tvbit website does not list any information about its management team. This is a red flag, as legitimate brokers should always be transparent about who is running the company.
Services or Products
Tvbit offers forex and CFD trading on a variety of assets, including currencies, commodities, and indices. However, there is no way to verify that the company actually offers these services.
License and Regulations
Tvbit is not licensed or regulated by any financial authority. This is a major red flag, as it means that the company is not subject to any oversight or regulations.
Why Dealing With An Unlicensed Broker Is Risky?
There are many reasons why it is risky to deal with an unlicensed broker. First, unlicensed brokers are not required to follow any financial regulations. This means that they can engage in unethical or illegal practices, such as market manipulation or fraud.
Second, unlicensed brokers are not required to keep client funds in segregated accounts. This means that your money is not protected in case the broker goes bankrupt.
Third, unlicensed brokers are not subject to any consumer protection laws. This means that you have very little recourse if you lose money to a scam broker.
Legal Warning Against Tvbit
The Financial Conduct Authority (FCA), the UK’s financial regulator, has issued a warning against Tvbit. The FCA warns that Tvbit is not authorized to provide financial services in the UK and that it is likely to be a scam.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Client Feedback
There are numerous complaints about Tvbit online. Some clients have reported that they were unable to withdraw their funds from the broker, while others have said that they were not able to get in touch with customer support.
Feedback About Their Trading
There are no independent reviews of Tvbit’s trading platform. However, some clients have complained that the platform is buggy and difficult to use.
Feedback About Their Customer Service
Customer service at Tvbit is reportedly very poor. Clients have reported that they have been unable to get in touch with customer support and that the few times they did get in touch, they were met with rude and unhelpful staff.
How Can “Reviews Advice” Help You If You Get Scammed?
Reviews Advice is a company that helps people who have been scammed by forex and CFD brokers. If you are scammed by this broker or any other broker, you should first report the incident immediately to your financial regulatory organizations.Â
But, if you need a quick solution and recovery you can contact us. We will evaluate your case and will provide you with a free consultation and service recommendations to help you recover the lost funds.
Final Thought
Tvbit is a scam broker that should be avoided. If you are considering trading with Tvbit, we recommend avoiding this broker. There are many legitimate brokers out there that you can trade with. Do not risk your money with a scam broker like Tvbit.
