SharzinBank is a forex broker that has been the subject of many complaints and warnings. The company is not regulated by any major financial authority, and there is a high risk of being scammed if you do business with them.
Company Overview
SharzinBank claims to be a leading forex broker that offers a wide range of trading products and services. However, the company’s website is full of red flags, including:
- No information about the company’s management team or ownership structure
- No mention of any regulatory licenses
- Unrealistic promises of high returns
- Pressure tactics to get you to deposit money
Team
The SharzinBank website does not list any information about the company’s management team or ownership structure. This is a major red flag, as it makes it impossible to know who you are actually dealing with.
Services or Products
SharzinBank claims to offer a wide range of trading products and services, including forex trading, CFD trading, and binary options trading. However, there is no way to verify these claims, as the company is not regulated by any major financial authority.
License and Regulations
SharzinBank is not regulated by any major financial authority. This means that there is no government agency to oversee the company’s activities and protect its customers. This is a major red flag, as it increases the risk of being scammed.
License Status
SharzinBank does not have any licenses to operate as a forex broker. As a German company, they should have a license from German Financial authority. This is a major red flag, as it is illegal to offer forex trading services without a license in most jurisdictions.
Regulation Status
SharzinBank is not regulated by any major financial authority. This means that there is no government agency to oversee the company’s activities and protect its customers. This is a major red flag, as it increases the risk of being scammed.
Why Dealing With An Unlicensed Broker Is Risky?
There are many reasons why it is risky to deal with an unlicensed broker. Here are just a few:
- Unlicensed brokers are not subject to the same regulations as regulated brokers. This means that they may engage in deceptive or fraudulent practices, such as front-running or spoofing.
- Unlicensed brokers may not have the financial resources to meet their obligations to their customers. This means that you may lose your money if the broker goes bankrupt.
- It is difficult to hold unlicensed brokers accountable if you are scammed. This is because they are often located in jurisdictions with weak financial regulations.
Legal Warning Against SharzinBank
The Financial Conduct Authority (FCA), the UK’s financial regulator, has issued a warning against SharzinBank. The FCA warns that SharzinBank is not authorized to conduct investment business 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 many complaints about SharzinBank online. These complaints allege that the company is a scam and that it has stolen money from its customers.
Feedback About Their Trading
Clients who have traded with SharzinBank report that the company’s trading platform is buggy and unreliable. They also say that the company’s spreads are high and that the fees are excessive.
Feedback About Their Customer Service
Customers who have tried to contact SharzinBank’s customer service department report that they have been met with rude and unhelpful staff. They also say that the company has been slow to respond to their queries.
How Can “Reviews Advice” Help You If You Get Scammed?
ReviewsAdvice is a website that helps people who have been scammed by forex brokers. The website provides information through a free consultation call about how to report a scam, how to get your money back, and how to protect yourself from future scams.
Final Thought
SharzinBank is a scam broker that should be avoided at all costs. If you have been scammed by SharzinBank, you should contact ReviewsAdvice for help.
If you think you have been scammed by a forex broker, you should contact your bank or credit card company immediately. You should also report the scam to the relevant authorities.
