OrbiTrade: real customer reviews. Does it pay or not?
The Essence of OrbiTrade Company in the Long Term Perspective
OrbiTrade is presented as a reliable international intermediary to whom one can entrust their funds. However, we have encountered cases where companies made similar claims but turned out to be financial fraudsters. Therefore, before recognizing OrbiTrade as trustworthy, it is necessary to carefully analyze the terms of cooperation and the opinions of real clients.
Analysis of OrbiTrade’s Activities
According to the description, OrbiTrade is a broker with transparent cooperation conditions inviting everyone to become its clients. However, the intermediary’s official website does not look attractive for a reputable company, and the capitalization of specialized services is estimated at 0 rubles. This is not surprising considering that the platform was launched quite recently. Despite the possible honesty of this newcomer, its reliability is questionable, and it must earn the trust of clients.
Upon closer inspection, it becomes clear that interacting with OrbiTrade could be financially risky. The managing company is Donnybrook Consulting Ltd from Dominica. Not only the offshore registration raises suspicions, but also the organization’s reputation online. Reviews are predominantly negative as many fraudulent brokers have emerged under its umbrella. Some of them have been previously mentioned (such as EuroFX, ABSystem, and others). Traders accuse them of fund manipulation and other illegal activities.
Offshore Operations of OrbiTrade
OrbiTrade lacks legal grounds to conduct its operations. The address of Donnybrook Consulting Ltd, which they refer to, belongs to another dozen fake brokers. It is evident that the employees of this company do not actually exist, and perhaps it only exists in the online space.
The Dominica Financial Services Unit, regulating the offshore sector in the Commonwealth of Dominica, has published a list of licensed brokers, but OrbiTrade is not on that list. Their registration number (2020/IBC00061) indicated on the company’s website is also unconfirmed.
The short existence of OrbiTrade has already caused dissatisfaction among many and is confirmed by a plethora of negative reviews.
Features of OrbiTrade’s Offer
Registration on the OrbiTrade platform, where agreeing to the company’s terms is required to create an account, may have pitfalls, including disclaiming financial responsibility.
Recommendations to use OrbiTrade may find their fans despite the presented reviews indicating professional psychologists on the team of manipulators able to persuade and manipulate public opinion.
The platform offers four types of accounts, with the initial threshold being 250 dollars. Although the description of trading opportunities leaves much to be desired, OrbiTrade emphasizes:
- welcome bonuses,
- personal advisor,
- protection against negative balances,
- access to scalping, and more.
According to reviews, OrbiTrade fails to fulfill its obligations, and the platform only operates to receive funds, not providing the opportunity to earn or return the initial deposit.
Summaries of User Reviews
Given that OrbiTrade only appeared in 2021 and reviews about it are still fresh, no praise-worthy reviews are found. Former clients of the company complain about its dishonest actions.
Negative feedback also pertains to predecessors of OrbiTrade launched by the same Donnybrook Consulting Ltd. Suspicions arise that they are serial scammers transitioning from previous fake brokers, aiming to deceive the maximum number of people.
OrbiTrade Scam Model
OrbiTrade employs various fraudulent schemes, including offering remote access programs imposed on newcomers. According to their claims, this software aids in trading, but in reality, its goal is to extract your funds and personal information. Your pockets may end up empty without your knowledge.
Expert Conclusions
The OrbiTrade platform belongs to experienced scammers who successfully deceive traders. The analysis reveals that they deliberately attract those who are willing to disregard financial security rules and fall for empty promises. Do not rely on them, or you will face significant financial loss and complex emotions due to lost funds.