In this SpearGpt review, we highlight reasons why we’re 100% convinced that SpearGpt.com is a broker that cannot be trusted.

The broker is targeting new traders with no substantial trading experience.

This is why SpearGPT is emphasizing on providing a “trading academy”.

Truthfully speaking, brokers are not known to provide the best training to their clients. This is because Forex and CFDs brokers make money by trading against their clients. So if they train you and decide to go the ECN or STP way, how will they make money? They would be forced to close down!

Steps to take to recover your money from SpearGpt broker

Conflict of interest is the reason why over 90% of traders lose money when they sign up and attempt trading with brokers like SpearGPT.

If you’re a victim of their under-hand tactics, you can make use of a claims management company to help you trace your lost funds.

The money recovery process involves the following steps:

1)Visiting the website of the claims management company and filling in a short form.

2)You must be truthful when filling in your details because the company will want to know how you lost funds (whether it was in credit card or crypto wallet payment).

3)You will receive an email/phone call from the company agents letting you know how to proceed further if you’re truly interested in recovering your money

SpearGpt review: Why they’re a scam and unfaithful

The company has refused to disclose their physical address. Only phone numbers have been provided.

We tried ringing these phone numbers but nobody answered the phone.

It seems the folks behind Spear Gpt broker prefer to maintain anonymity.

In addition to this, the website does not explicitly mention the name of the company behind the activities of this broker.

Unlike OceanFX scam that clearly states what company is running their affairs, SpearGpt prefers to keep things mysterious and under wraps.

We can’t trust such a broker.

Furthermore, this broker does not have a regulator’s license.

We can tell from the phone numbers provided that the broker is probably based in the UK.

Phone numbers with +44 prefixes means the number is from the UK and if a broker is using such a phone number, then we can presume that they’re UK based.

This leaves us with one very important question: Why is this broker not regulated by the FCA?

Is it that they’re conducting illegal activities that would automatically disqualify them if they attempted to apply for a license?

Furthermore, traders are asked to stay away from unlicensed brokers like SpearGpt.

This is because this broker cannot guarantee safety of funds. They won’t keep your money in a segregated account.

Secondly, unregulated brokers are not answerable to any authority. Any loss that you incur through their platform won’t be addressed in a professional manner.

In fact, this is why claims management companies exist. The aim is to help you get your funds from a stubborn broker who has refused to process your withdrawal request.

What tricks SpearGpt.com uses to scam traders

Take note that this broker appeared online just recently and has no serious reputation that would motivate new customers to trust them.

This broker claims that their customer base is in the thousands of numbers.

But we can assure you that this is just a marketing statement. The aim is to make you feel comfortable.

The truth is that there are so few traders who have fallen for the scam since it was launched.

When it comes to matters trading, this broker offers a bogus or rigged trading platform.

If you execute a trade, the broker receives the order and takes the other side of your trade.

In the event that this trade is working against them, the market maker will simply play around with pricing feed until it hits your stop loss. This is called stop hunting.

In some cases, they even freeze the trading simulator so that all of those pending orders can go into losses.

This is the essence of running a CFDs (Contract for Difference) brokerage business.

This is also the reason CFDs brokers never want to welcome winning traders. Their business thrives on the ignorance of new traders.

If you somehow outsmart them, they will lock you out of the platform or freeze your account.

All it takes is to push a button that suspends your account. You will receive an email notification explaining the ban or action that this broker has taken against you.

Important things to remember about this broker

Do not trade with SpearGpt because the business model is not designed to accommodate professional traders who are into it for money.

It is designed to defraud naive traders who go there because they were promised profits from trading.

Ultimately, using the services of this broker is counter productive.

1)It’s the quickest way to lose money because the broker owns the facility and what they do with your trades is out of your control.

2)The broker is unregulated

3)CFDs brokers don’t love you they love your money

4)This broker is very new

Thanks for reading this review.

OceanFX is an offshore broker linked to a company called Plaintech LLC. This particular company also owns YellowStoneFX. YellowStoneFX has no valid regulatory license and so is OceanFX.io.

In this review, we will let you know that neither Ocean FX nor any of their affiliated brokerages cannot be trusted with customers’ funds.

And if you’ve lost money while trading with these dubious entities, we encourage you to follow this guide in order to recover your funds.

Is OceanFX a scam broker?

The word ‘scam’ is appropriate since this broker has not proved their legitimacy.

They have no credible track record of serving professional traders.

In fact, there’s no evidence that people ever make money trading on the Ocean FX platform.

Who owns Oceanfx.io?

Plaintech LLC is the face behind this illegal brokerage.

While Plaintech LLC is incorporated in the US, their businesses are conducted in the offshore island of St. Vincent and the Grenadines.

It begs the question of why Plaintech LLC chose St. Vincent and the Grenadines instead of the US — which is a market where brokers are strongly regulated.

In the US, there’s the CFTC, FINRA and the SEC. These folks work together to make it harder for scammers to take your money.

They’ve implemented tough rules and procedures. Scammers can’t afford to operate in this market and so their next available option is to hide their dirty businesses in offfshore regions like St. Vincent and the Grenadines.

Therefore, Plaintech LLC is fully responsible for the business activities and affairs of OceanFX.

The game that OceanFX broker plays

This outfit is obviously risky for your trading. It does not matter what they say on their website.

Currently the website of this broker is promising a lot of good things to potential clients.

One of them is that Ocean FX wants to help you “improve your trading potential using their superior technology”.

They provide a wide range of “financial instruments’ for trading and minimum deposit is just $250.

This attracts the financially unsophisticated because $250 is a relatively low amount that starters feel comfortable “investing”.

However, what people don’t know is that a broker like OceanFX is not after helping anyone make an income.

They’re into this business because they want to make money from you.

They have to look legitimate so that they can earn your trust.

These folks know that they can get more than $250 from your bank account or Crypto wallet.

The goal is to extract as much money from you as possible.

What they have to do is to provide you with a “trading platform” and a means to deposit your funds into the dark hole.

Once you commence the trading, your money will be depleted in bits.

Most of your trades are actually going to fail because Ocean FX is actually a CFDs broker just like NCE, CFDsCapital and other offshore brokers.

CFDs (Contract for Difference) brokers are mere bucketshops. They trade against their clients to make money.

You can’t win no matter what trading strategy you apply.

This is why these shady brokers don’t tolerate trading strategies that appear to favor their clients.

They wont hesitate to ban you from their website if you implement any of those strategies that make money consistently.

How to recover your money from this scam broker

The usual action of visiting your dashboard and initiating a withdrawal request is something that does not work.

Begging them to return your deposit or pay out your winnings usually backfires.

The only option is to work with a claims management company for help. If you go this route, chances of success is like 100% certain.

Wrapping it up

No matter how OceanFX repackages their service, it still won’t change the fact that they are illegal and unwanted.

They make the lives of real traders difficult.

You won’t know that the broker is trading against you. However, one thing that’s certain is that your account will tend to suffer one setback after the other.

Ultimately, you will deplete that trading account. Don’t be tempted to top it up with additional funds because history will repeat itself.

You may think your trading strategy is bad. However, the truth is that someone is trading against you.

Keep off these scams.

Universy Invest refused to disclose ownership information or address where they operate this illegal business from.

According to this domain snooping tool, Universyinvest.com was registered in September 2022.

As usual, Universy Invest is a CFDs broker. CFDs (Contract for Difference) are highly controversial instruments as “brokers” offer them but won’t confess that they’re trading against their customers and making them lose money in the process.

How to get back your funds from Universy Invest

If you’ve lost money trading with this broker, learn what you can do to get back your money. This also applies if you’re facing withdrawal issues and the broker has refused to assist you get your money out of their website.

Please note that the method above works whether you deposited money using a credit card or Crypto wallet.

This is how we assisted victims who had been scammed by doggy broker such as NCE, FTUK and CFDScapital.

Universy Invest review

It’s interesting that this broker is claiming to offer Straight through processing trading platform when in the real sense they’re just market makers.

A market maker is a broker that offers a trading simulator to their users instead of the real thing.

Each time you execute a trade, the broker will be busy on the other end trading against you and making your life difficult.

These folks never put your trades through the licensed global exchanges where you can compete fairly with other market participants.

Universy Invest also claims that they will assign a “personal account manager” to their traders.

This is the beginning of the problem though. The so-called “personal account managers” are well-trained sales people with marketing acumen.

The aim of these “personal account managers” is to convince you to deposit money into their shady platform as quickly as possible.

Once they’ve squeezed the life out of your bank account and have no chances of getting more money from you, that’s when you’ll stop hearing from them.

Universy Invest is an unregulated broker

It does not matter how professional or convincing this broker sounds like. If they’re missing out on the fundamentals, then chances are that the company is a scam.

Universy Invest does not and will not assure safety of your funds.

In fact, the moment money leaves your bank account, it goes straight to the company’s bank account instead of a segregated account.

What this means is that this broker can use your funds for their operations because there’s no clear system that distinguishes company funds from customers’ money.

Furthermore, this broker is clearly breaking the law without flinching.

The only way a broker can run its business in this manner is when they’re based in an offshore location where regulations don’t matter.

This broker’s actions against your funds don’t attract consequences anyway.

This is why Universy Invest is also targeting victims from strongly regulated markets like the US.

We have also noted that the broker’s website does not have terms and conditions.

This is unprofessional. It’s risky to the consumer. Scammers generally operate like this because their intention is not to provide you with a legit trading environment.

Wrapping it up

It’s difficult to justify why a broker would operate without a license.

Equally, these guys can’t give us any valid reasons as to why they’re hiding details of their company, physical address and people who run the affairs of the website.

This is clearly an illegal outfit presenting a “trading platform” as a tool for harvesting funds from the financially unsophisticated.

Do not use Universy Invest as they are a scam broker.

If they stole your money, you can always initiate a chargeback against them.