Globetrades Review – A Deceptive Broker to Avoid

Cryptocurrency trading has gained popularity, attracting both genuine investors and fraudulent schemes looking to exploit unsuspecting traders. One such entity that has emerged recently is Globetrades.net, a new and unregulated scam broker that preys on innocent investors. This review will expose the fraudulent operations of Globetrades, how they deceive traders, why you should steer clear of this platform and how victims can report fraudulent activities.

What Is Globetrades.net?

Globetrades.net is a newly created online trading platform, having been registered only in July 2024. This recent domain registration is a red flag, as legitimate brokers typically have an established history and track record in the financial market. New domains with no transparency often indicate fraudulent intentions.

Unlike regulated trading platforms that comply with financial laws, Globetrades operates without any oversight, making it a risky and untrustworthy choice for investors.

How Does the Globetrades Scam Work?

Globetrades primarily targets victims through social media platforms, disguising their approach as friendly conversations. The scam typically follows a well-planned strategy:

1. Social Media Manipulation – Scammers behind Globetrades reach out to potential victims via social platforms, including Facebook, Instagram, Telegram, and WhatsApp. They establish friendly conversations, often pretending to be successful traders or investment consultants.

2. Trust Building – Over time, the fraudsters gain the victim’s trust by discussing investment opportunities, offering insights into profitable crypto trading, and showcasing fake profits.

3. Introduction to Globetrades – Once trust is established, the scammer persuades the victim to register and invest through Globetrades.net, promising high returns and exclusive trading benefits.

4. Manipulated Trading and Fake Profits – The broker may initially show profits in the victim’s trading account, encouraging them to invest more funds. However, the data is usually manipulated, and no actual trading occurs.

5. Withdrawal Blockage – When investors attempt to withdraw their profits, they face multiple delays, additional fees, and unresponsive customer support. Eventually, withdrawals are either denied or ignored, leaving victims unable to access their funds.

6. Disappearance or Account Closure – Once a significant amount of money has been stolen, the scammers may block the victim’s account or shut down their website, disappearing without a trace.

Why Is Globetrades.net a Scam?

Several factors confirm that Globetrades is nothing but a fraudulent crypto trading scheme:

• No Regulation or License – Globetrades operates without any regulatory oversight, meaning investors have no legal protection against fraud or misconduct. Legitimate brokers are required to be licensed by recognized financial authorities.

• Anonymous Ownership – The website does not disclose any company information, physical address, or regulatory details. Lack of transparency is a clear sign of a scam.

• Recent Domain Registration – The platform was registered in July 2024, meaning it has no trading history, credibility, or established reputation in the industry.

• Fake Promises of High Returns – Any platform that guarantees high returns with little risk is a scam. Crypto trading involves market fluctuations, making guaranteed profits impossible.

• Blocked Withdrawals – Multiple reports indicate that victims are unable to withdraw their funds, which is a classic sign of a fraudulent broker.

• Aggressive Marketing Tactics – The platform aggressively recruits new victims through social engineering tactics, using social media and messaging apps to lure in unsuspecting investors.

How to Avoid Scams Like Globetrades?

To protect yourself from similar fraudulent platforms, follow these safety measures:

✔ Check Regulatory Status – Always verify if a broker is licensed by reputable authorities like the Financial Conduct Authority (FCA), Securities and Exchange Commission (SEC), or Cyprus Securities and Exchange Commission (CySEC).

✔ Avoid Unrealistic Promises – Be cautious of investment schemes that promise high profits with no risk.

✔ Verify Company Information – A legitimate broker will have a transparent website with a physical address, regulatory details, and verifiable customer service.

✔ Research Online Reviews – Check for scam warnings, user complaints, and independent reviews before trusting a platform.

✔ Be Skeptical of Social Media Investment Offers – If someone approaches you on social media with an investment opportunity, it is likely a scam.

Have You Been Scammed by Globetrades? Here’s What to Do

If you have lost money to Globetrades.net, do not panic. There are steps you can take to report the scam and possibly recover your funds:

• Report the Scam – Victims should report the scam to financial regulators and cybercrime authorities to prevent others from falling into the trap.

• Seek Professional Assistance – Organizations like RadleyFinance.com help scam victims track down and recover lost funds from fraudulent brokers. Consulting professionals increase your chances of retrieving your stolen investment.

• Warn Others – Sharing your experience on online forums, social media, and scam reporting sites can help warn others about the Globetrades scam.

Final Verdict: Stay Away from Globetrades.net

Globetrades.net is a new, unregulated, and deceptive scam broker that operates through social media manipulation and fraudulent trading schemes. Investors should avoid this platform to prevent financial losses.

If you suspect that you have been scammed, act quickly by reporting the scam and seeking assistance. Remember, only trade with licensed and transparent brokers to keep your investments safe.