Grot Finance is a cloud mining platform that claims to offer high returns on investment. However, there is a growing body of evidence that suggests that Grot Finance is a scam. In this article, we will take a closer look at Grot Finance and explain why we believe it is a scam.
Company Overview
Grot Finance is a relatively new company, having been founded in 2022. The company’s website claims that it is headquartered in the United Kingdom, but there is no evidence to support this claim. The company’s team is also anonymous, which is a red flag.
Services or Products
Grot Finance offers a variety of cloud mining plans, starting at $100. The company claims that its miners are located in state-of-the-art facilities and that they use the latest technology. However, there is no way to verify these claims.
License and Regulations
Grot Finance is not licensed by any financial regulatory authority. This is a major red flag, as it means that the company is not subject to any oversight. Unlicensed brokers are more likely to engage in fraudulent activity.
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 any oversight, which means that they can engage in fraudulent activity without fear of being caught. Second, unlicensed brokers are often not transparent about their fees and charges, which can lead to hidden costs. Third, unlicensed brokers may not be able to recover your funds if they go out of business.
Legal Warning Against Grot Finance
The Financial Conduct Authority (FCA), the UK’s financial regulator, has issued a warning against Grot Finance. The FCA has warned that Grot Finance 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 a number of complaints about Grot Finance online. Some users have reported that they have not been able to withdraw their funds from the platform. Others have reported that they have lost money while trading with Grot Finance.
Feedback About Their Trading
There is no way to verify the claims made by Grot Finance about its trading performance. The company does not publish any audited financial statements, which makes it impossible to assess its track record.
Feedback About Their Customer Service
Customer service at Grot Finance is reportedly poor. Users have complained about long wait times and unresponsive staff.
How Can “Reviews Advice” Help You If You Get Scammed?
Reviews Advice is a website that helps people who have been scammed by investment fraudsters. The website provides information about how to recover your funds and how to avoid being scammed in the future.
Final Thought
We believe that Grot Finance is a scam. The company is unlicensed, has a poor track record, and has been the subject of numerous complaints. If you are considering investing with Grot Finance, we urge you to reconsider. There are many legitimate cloud mining platforms available, so there is no need to risk your money with a scam.
If you think you have been scammed by a cloud mining platform, you should contact the Financial Conduct Authority (FCA) in the UK or the Securities and Exchange Commission (SEC) in the US. You can also contact Reviews Advice for help.
