Grow Deposits: reviews. Reliable broker or new scam?
Grow Deposits: honest reviews and a reliable broker
The slogan “Become an independent trader with access to stock markets 24/7!” is how the brokerage company Grow Deposits greets us. They promise to make online trading profitable and convenient for their clients. But is this broker trustworthy? Let’s figure it out together.
Main information about Grow Deposits
Grow Deposits is a brokerage company that, according to their claims, brings together 245 experienced analysts, financiers, managers, and financial experts. However, the names and faces of these specialists are not listed on the website. Some reviewers claim that Grow Deposits is the result of the activities of serial scammers. They also point out the lack of reliable information about the company, which raises doubts about its reliability.
The Grow Deposits website claims that the company was founded in 2019 and has international awards. However, upon verification, it was found that the domain of the website costs only one ruble, raising questions about the seriousness of the company’s operations.
Grow Deposits offers its services without providing a contact phone number, which may cause dissatisfaction among clients. Additionally, the company’s stated address in Cyprus turned out to be non-existent, casting doubt on the existence of the company’s office.
Licensing and regulation
Grow Deposits claims to have permits from CySec, IFSC, FSC Mauritius, FCS, and ASIC, but checks have shown that none of these organizations issued licenses to the broker. The claimed authorization from the Vanuatu regulator also turned out to be fake.
The Grow Deposits website also offers services to Russian-speaking clients without the necessary permission to operate in Russia, which violates legislation.
Trading conditions
Grow Deposits offers three types of accounts for its clients: “Basic” with a minimum deposit of 1000 dollars, “Standard” with a minimum deposit of 25000 dollars, and “Premium” with a minimum deposit of 50000 dollars. The company claims to provide access to more than 150 assets for trading.
User reviews
Due to the recent establishment of the company, Grow Deposits has few reviews from clients. However, many reviewers speculate that the number of negative reviews may increase in the future.
Conclusion
Grow Deposits is a company with some shortcomings and uncertainties in its operations. It is recommended to be cautious when choosing this broker and carefully study all aspects of its operations before investing. Remember, it is important to verify the reliability and licensing of the company you plan to work with.
I am extremely dissatisfied with the broker’s work as it seems they are not reliable and potentially running a new scam rather than actually growing my deposits.