SimpleWay: real customer reviews and expert analysis of activities
Overview of SimpleWay Company Services
SimpleWay is an intermediary in the currency and stock market with a base in the Dominican Republic, promising to assist every trading novice. Unique multilingual support and favorable trading conditions are available to clients. In our detailed review, you will find information on real user experiences and an assessment of the company’s website.
Insights into Website Operations and Company Review
The simpleway.trade resource tries to make a favorable impression but likely falls short. Captivating images and attractive figures may catch attention, but investors want to see specific data, lacking at SimpleWay.
It is interesting to learn about the company’s origins, but information on its founding date remains undisclosed. Evidently, this secrecy stems from the recent establishment of the company and its limited market experience.
Office registration in the Dominican Republic, known as an offshore zone, enables the easy and swift creation of “international companies.” The organization maintains owners’ anonymity supported by the country’s legislation.
Visually, the site appears professional, yet the information remains murky. Documents contain template phrases, the “About Us” section is filled with marketing statements, and the “Contacts” section only presents a feedback form and email.
Clearly, the company prefers to conceal genuine information and details. We will explain the reasons for this policy further.
Information Structure of Parent Company and Regulatory Oversight
Seabreeze Partners LTD is the owner of the broker’s website, founded in August 2020. Why did the subsidiary company appear so recently? Because the main stakeholders of Seabreeze Partners LTD were involved in financial manipulations in Europe. Following warnings from financial regulators, the company faced blocks and various alerts of illegal activities.
Shаrаgа received a warning from the Austrian Financial Market Authority.
The German Bundesfinanzdarto agency also issued a warning.
Similar measures are taken in Italy, where Italian regulators publish alerts on the Italian Securities Market Commission’s website.
The scammers did not exaggerate by stating that their services reach clients worldwide. The scope of deception is significant and impressive.
After negative experiences in Europe, fraudsters decide to test their luck in the Russian market. SimpleWay emerges. Organizers attempt to improve their image, even purchasing bots for fake reviews. Nevertheless, the Central Bank includes the company in the list of organizations with signs of fraud.
Does SimpleWay inspire trust after this? The question remains open.
Described Trading Conditions
Fraudsters attract clients with no commissions and a low starting deposit. The minimum threshold to start trading is $250, but a wide spread and lack of signals make this scheme disadvantageous, especially for beginners. Reviews show that this tariff is used more for demonstration purposes.
Traders can engage in various assets: stocks, currencies, indices, commodities. Trading conditions for stocks include a leverage of 1:400. It should be noted that such high leverage violates the requirements of all international regulators and the Central Bank.
The trading platform is left undisclosed, although assurances of its convenience and availability without platform downloads are present. In practice, this means providing access to a virtual account in a personal cabinet managed manually by quotes.
User Reviews of the Company
SimpleWay user reviews are plentiful, with the majority being positive. However, recent months have brought more honest reviews. Clients complain about the inability to withdraw funds and highlight the names and contact details of “managers” they interacted with.
Be vigilant and learn from the experiences of other users.
Brief Overview of Fraud in SimpleWay
Reviews reveal how scammers deceive their clients. The script is well-known: a company representative contacts a potential trader, persuades them to try their hand in the financial market. They target those who have shown previous interest in trading, attended webinars, downloaded platforms, etc. The manager emphasizes safety, a minimum deposit, and individual support.
The trader’s funds “work” within the platform, although they have long been held in offshore accounts. The client believes in the growth of virtual numbers and tops up their account.
Through analytics, the trader manages to increase profits, prompting the need for fund withdrawal. The client is offered to pay an “insurance fee” for fund withdrawal amounting to 15-20% of the sum, covering fees and insurance. This is the final step of the scam: the managers disappear, close access to the account, and cease communication.
Final Opinion: Trusting SimpleWay or Not?
After analyzing information about the broker and its managing company, one can conclude about the fraud. The parent company Seabreeze Partners LTD has long been present in regulators’ blacklists, including the Central Bank. Numerous deceived users share negative reviews describing their disappointments. The recommendation is to avoid interacting with SimpleWay due to high risk.