Cbcgroup-lu is a forex and CFD broker that claims to offer a wide range of trading services to clients around the world. However, there is a growing body of evidence that suggests that Cbcgroup-lu is a scam.
Company Overview
The company’s website claims that it is headquartered in Luxembourg, but there is no evidence to support this claim. The website also does not list any of the company’s executives or employees.
Services and Products
Cbcgroup-lu offers a variety of trading products, including forex, CFDs, and cryptocurrencies. However, the company does not disclose its trading conditions, such as spreads, commissions, and fees.
License and Regulations
Cbcgroup-lu claims to be regulated by the Financial Conduct Authority (FCA) in the UK. However, the FCA does not list Cbcgroup-lu as a regulated firm.
The company also claims to be regulated by the Cyprus Securities and Exchange Commission (CySEC). However, CySEC has issued a warning against Cbcgroup-lu, stating that the company is not authorized to provide financial services in Cyprus.
Why Dealing With An Unlicensed Broker Is Risky
There are several reasons why it is risky to deal with an unlicensed broker. First, unlicensed brokers are not subject to the same regulatory oversight as licensed brokers. This means that they are more likely to engage in fraudulent or unethical practices.
Second, unlicensed brokers are not required to keep client funds in segregated accounts. This means that there is a risk that your funds could be lost if the broker goes bankrupt.
Third, unlicensed brokers are not required to provide dispute resolution mechanisms. This means that if you have a problem with the broker, you may have difficulty getting your money back.
Legal Warning Against Cbcgroup-lu
The Financial Conduct Authority (FCA) in the UK has issued a warning against Cbcgroup-lu, stating that the company is not authorized to provide financial services in the UK. The FCA warning also states that Cbcgroup-lu is likely to be a scam.
The Cyprus Securities and Exchange Commission (CySEC) has also issued a warning against Cbcgroup-lu, stating that the company is not authorized to provide financial services in Cyprus.
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 several online reviews of Cbcgroup-lu, and most of them are negative. Some clients have complained that they were unable to withdraw their funds from the broker. Others have said that they were not able to get a response from customer support when they had problems with their account.
Feedback About Their Trading
The few clients who have commented on Cbcgroup-lu’s trading platform have said that it is slow and unreliable. They have also said that the spreads are high and the commissions are excessive.
Feedback About Their Customer Service
Customer service at Cbcgroup-lu is said to be non-existent. Clients who have tried to contact customer support have either been ignored or given a runaround.
How Can “Reviews Advice” Help You If You Get Scammed?
If you have been scammed by Cbcgroup-lu or any other broker, there are a few things you can do. First, you should report the scam to the relevant authorities, such as the FCA or CySEC. You can also file a complaint with the Financial Ombudsman Service (FOS) in the UK.
In addition, you should contact a lawyer who specializes in financial fraud. A lawyer can help you to recover your lost funds and to hold the scammers accountable.
Reviews Advice can help you by providing you with a free consultation call. In this call, you will receive some recovery service recommendations and professional advice which will help you in recovering the lost funds.
Final Thought
Cbcgroup-lu is a scam broker that should be avoided. If you are considering trading with this broker, we urge you to reconsider. There are many other reputable brokers out there that you can trade with.
Do not fall victim to this scam!
