How to recover your investment from Obsbit – Scam Broker Review
Be on the Lookout; Obsbit is an offshore broker; Your investment is at risk. Read this review you want to recover your investment from Obsbit.
Is Obsbit a legit broker and how to recover your investment?
Obsbit is an unregulated offshore broker that offers services such as forex, CFD and or binary options trading. The broker is registered in a fiscal haven that lacks the intervention of any investment regulatory process. This means that taking legal action against this forex broker is next to impossible. Read this review to recover your investment from Obsbit.
Obsbit broker relies on a number of tricks to reach their prospects and make them believe that the money they are investing with them is in safe hands and will generate humongous returns. Such tricks include the use of the state of the art websites and apps, with all sorts of attractive trading conditions followed by well-spoken staff and very efficient customer support after signup. This is all smoke and mirrors.
As far as this kind of scheme goes, the Obsbit staff could very well be operating as part of a network of anonymous call centers in undisclosed locations. They could outright lie to you about their location and even their names. In typical investment scams, the staff uses stage names when communicating with the clients to add a layer of anonymity. Using excellent sales skills paired with manipulative psychology techniques, the staff involved in these sophisticated scams will prompt the victims to invest always more money, often beyond what they had planned in an attempt to avoid losing it all. This type of scam is now widespread and used to defraud unsuspecting victims billions of dollars annually.
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Obsbit broker Reviews
A look into Obsbit Reviews on various internet forums will reveal that Obsbit clients have had issues withdrawing their investments and/ or profits. Though the reviews regarding Obsbit have been drawn from various sources, it reveals a similar challenge. Obsbit entices clients into this scam through interesting profits posted to their clients’ trading accounts.
The company even goes to the extent of transferring some of the money back to the clients. Once the clients’ trust is gained, they are prompted to invest more money for much better returns. Once the client has transferred the money, the problems begin.
Obsbit broker will then manipulate the trading platform to create scenarios jeopardizing the clients’ investments. The clients are then prompted by Obsbit Financial Analysts to transfer more money into their accounts to reduce the losses they are facing, often to avoid losing their investments altogether. Immediately after they do this, withdrawing the funds becomes an issue.
How To Recover Your Investment From Obsbit Broker?
There is no easy way to recover your investment once you have sent it to Obsbit. Obsbit is structured in such a way that it makes it hard to pinpoint the scam to specific individuals and prove any wrongdoing. Obsbit constitutes a brokers brand that is managed by a chain of shell companies registered in fiscal havens. Building a legal case against the broker would require one to utilize the services of a private investigator to track the money trails and trace it to individuals who could testify of the fraudulent practices of the broker. This does not even factor in the huge legal costs that would be required to institute a civil action in such offshore locations. Such prohibitive costs make it hard for customers of Obsbit to take any action.
However, hope is not lost. There are other means through which investors can recover their funds from Obsbit, without going the civil action route. A number of Obsbit victims have managed to recover their investment by maneuvering the banking legal system. While this method might be unknown to many people, it is possible for an individual to get his or her bank to reverse credit card charges and bank wire transactions in his or her favor. While this is possible, the route has a lot of rules and regulations around such a procedure and it would be wise to hire an expert if you want to recover your money from Obsbit broker.
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More reasons why you shouldn’t trust Obsbit
Disadvantages of ObsBit
Poor presentation of the company, no regulations
The most serious downside of this broker is the unreliability. According to information on its website, ObsBit is owned and operated by Setonix Holding LTD., A company registered in the Marshall Islands. However, the broker’s terms and conditions mention another offshore area – Vanuatu. Either way, forex and CFD brokers operating in these offshore areas are unregulated and are not generally reliable. Most offshore brokers choose to register on sunny islands to narrow the legal wedges and many of them run investment scams.
Only crypto CFDs offered?
If you open Active8 from ObsBit without logging in, it looks like the broker is offering to trade a wide range of financial instruments, including forex, index CFDs, commodities, stocks, and cryptos. However, when we connected in demo mode, we could only trade cryptocurrencies. Therefore, we assume that live account holders are also only offered CFDs on digital assets, which would surely disappoint those who wish to trade EUR / USD, gold or certain indices.
The ObsBit website is available in English, Spanish and German, and it appears that the broker primarily targets European investors. Unfortunately, we have encountered many negative user reviews on ObsBit. It seems that the broker has defrauded many Spanish investors of their money. Most investors say they have been treated like kings and queens until they try to withdraw. After that, the broker’s representatives simply disappeared. Some complainants suggest that ObsBit is related to the forex broker CIBFX.
Overall, we cannot recommend Obsbit. This CFD cryptocurrency broker is registered overseas and does not provide much information about the company behind him or the trading conditions. Worse, we found a lot of negative user complaints and reviews on Obsbit, so it’s very likely to be one of the many crypto scams in the financial markets.
Our best advice for those of you who wish to trade Bitcoin is to do so either on a reputable major exchange, or with an authorized forex broker who also offers cryptocurrency CFDs.
Address: Trust Company Complex, Ajeltake Road, Majuro, Marshall Islands
Phone: +443300271676 +34935227635 +49 3222 999 0324
Email: email@example.com – firstname.lastname@example.org – email@example.com
Company: setonix holding LTD
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Name Server: JOHN.NS.CLOUDFLARE.COM
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