Zigber is a fraudulent CFDs broker located in a phony offshore address at St. Vincent and the Grenadines. In fact, multiple shady brokers are located in the very same address where Zigber.com is operating out of.

The address leads us to Griffith Corporate Centre — and folks, as you may have suspected, this is a building that is notorious for hosting Forex scams.

According to the promotion materials on the Zigber website, the company is offering traders a range of financial instruments which include Forex, Indices, Gold, Shares, Crypto and Commodities CFDs. Additionally, the company is claiming to offer STP (Straight-Through-Processing) trading conditions, deep liquidity, good spreads and generous leverage.

Zigber is allegedly an ‘Award-winning’ broker with thousands of customers.

In a nutshell, this website proclaims a host of unverifiable marketing mumbo jumbo which I find to be pure BS.

Please note: These tips can help you recover your money from a typical Forex scam like Zigber broker.

Zigber Review and the overview

This broker has an ugly but interesting story that’s going on which you need to know.

According to the website, Belana Group LLC is the company that runs the brokerage. However, according to the companies registra records at St. Vincent and the Grenadines, Belana Group LLC is registered to an agent called Wilfred Services Ltd and is pending cancellation.

It appears that Belana Group LLC is about to be dissolved. In addition to this, the Zigber.com domain was just registered the other day — in August 2022 to be precise.

The truth is that Wilfred Services Ltd (the agent) is a shell company that presents its services to scammers who want to run some sort of financial services. The company sits in the middle like a proxy, and is in charge of delivering services to multiple offshore brokers in its network.

As a matter of fact, Wilfred Services Ltd is located in the same building as Zigber.com.

Does the broker mention any of these things to their customers? Absolutely Not!

In summary, the broker is committing the following offenses:

1)Using deceptive/misleading tactics to solicit funds from investors

2)The broker is offering brokerage services without proper registeration as a Forex dealer

3)Using a proxy company to hide details of ownership

4)Company is on the verge of closing down (website will also shut down and run away with investors funds or shift to another proxy company and continue with operations.

Zigber broker’s way of operation

The anonymous owners of this brokerage set up a website and leased a whitelabel trading software.

The fact is, there are a number of third-party brokers and companies that are willing to accomodate offshore scammers at a cost, hence the leasing service.

The cost can be anywhere between $1000 to $5000 monthly.

A white label trading platform offers a simulated trading environment. In other words, this platform enables players to buy and sell financial instruments against a house.

But 99% of their customers lose money on this sort of simulated trading environment. Many so-called trading experts have given multiple reasons why they think the percentage of traders losing money is huge. However, the truth is that most of these traders are actually using illegal and unregulated offshore brokers that blantantly steal from them. Typical examples of thieves in the business would be Zigber, AlfaBTC, EUFinance, InteracInvestor and many more.

But what really happens to the few lucky winners? I’m glad you asked the question.

A winner must have been very lucky to beat the house. Now, the winner must also ask themselves whether the house will give them their winnings.

This is where the story gets ugly. The douchebags flatly refuse to send the player’s winnings into their bank accounts.

So the customer loses his deposit plus his “fake winnings”.

In the end, the statistics conclude that 95% of Forex traders lose money.

Offshore Financial Regulators are toothless

A broker like Zigber certainly has victims everywhere. There is no way the financial dark hole can spare anyone that puts his money in it.

However, regulators in the offshore jurisdictions can be lazy and some of them don’t even act.

For example, the Financial Services Authority in St. Vincent and the Grenadines has never fined any criminal running an illegal broker enterprise in their jurisdiction. They are just a name passing off as an ‘authority’.

A toothless financial regulator is a good for nothing regulator because they give false hope to the consumer of these illegal CFDs products offered by fake brokers like Zigber.

A broker that is regulated by such a financial oversight authority is as good as one that is not regulated at all.

The question is why can’t they round up all the illegal brokers operating out of the Griffith Corporate Centre?

Wrapping it up

All brokers that offer illegal CFDs for trading will take the other side of your trades. In other words, you will be competing with a broker that determines when you should lose and when you should profit.

This broker is known as a bucket shop and Zigber is a good example. You can’t win and if you win, the disappointment of not being able to cash out your winnings will be haunting you soon.

This broker even has an “education” section on their website. The question is how can a broker that is there to steal your money going to educate you on how to be a better trader?

I feel that this is extremely annoying and deceptive, but thank you for reading this review.