Global Rockies Review – Globally Active Scam With BaFin Warning
Global Rockies is a relatively recently established trading domain, presumably operating out of Switzerland. If you attempt to search Google for this firm, the first result that appears is a warning by one of EU most reputable financial authorities.
If that doesn’t speak enough about this newly registered scam, please read the following Global Rockies review for the particularities on this peculiar conduct.
Who Runs Global Rockies
Except for a crew of anonymous actors smiling at you on the Global Rockies homepage, you won’t find out anything about the people behind this brand. These unknown, self-proclaimed Forex experts and trading professionals have allegedly dedicated their careers to bring traders better tools and richer investment options.
All the worthless claims aside, the anonymity is painfully obvious. Whoever is operating the website doesn’t want to be known or seen for solid reasons – they’re a pack of financial swindlers in disguise.
TradaCoin is another anonymous entity to be careful about.
|Reliable Broker Must Have
|Transparently displayed in the disclaimer or legal documents
|Within your legal jurisdiction – local regulator
|Your country or the country whose license applies in your legal jurisdiction
|The older the domain – the higher the possibility the company is trustworthy
|Domain should be from local or international zones, no .xyz etc.
|Financial Authorities Warnings:
|Phone, email, social media, web form
|If withdrawal is possible:
|Transparent fees – list of spread and commissions
|If Active on Social Media:
|Often present on social media
No Regulation Plus Blacklisted
It is quite evident from one look at the Global Rockies homepage that there’s no regulation present. The Swiss address first made us search the database of FINMA, but that returned no results.
Furthermore, we went through the databases of FCA, ASIC, CySEC and BaFin. The only notice we found on this shady company is the warning by the German regulator – BaFin.
All things considered, especially the suspicious legal status, not enough transparency and other major regulatory breaches like bonuses offered, it is obvious that this broker respects no legislation. Without that, they’re free to offer whatever attracts customers, even if it’s just on paper and not actually present as a service.
Global Rockies: Pros and Cons
Exploring the website further has brought us to a defunct web terminal you could never rely on for safe trades and timely responses. Moreover, the only assets available for trading are leveraged crypto products.
The minimum deposit to become a customer is only $250, but when every single dime goes to the scammer’s pocket, there’s no use investing anything at all. Every other account type is absolutely overpriced and not worth buying. In essence, we have not found a single advantage to investing here.
|Financial Instruments On Offer:
|Welcome bonus up to 45%
|Education or Extra tools:
Is Global Rockies Safe?
Global Rockies asserts that it provides safety and security standards and measures that make trading on their platform utterly safe and by all means lucrative. Sadly, that couldn’t be further from the truth.
Firstly, leveraged crypto products cannot exceed the ratio of 1:2 in EEA and 1:5 in the US. This broker provides up to 1:15. Furthermore, it is known that EU brokers aren’t allowed to offer bonuses. As an allegedly reputable firm, Global Rockies does it anyway!
This is not where our concerns end. Only transaction channels available are various crypto currencies, which is another sign of anonymity and distrust. Our final conclusion is that this broker is not even remotely safe for investing and trading!
Defrauding Strategies and Targets
An immediate boost to the Global Rockies credibility is their claim about being a prestigious Swiss broker. Although this statement is fairly easily debunked, it may open the way for the phone sales agents to persuade their less experienced victims.
Furthermore, Global Rockies is designed to sound like their offer is a once in a lifetime deal. Besides the ridiculously high leverage, and an easily accessible web trader, personal account managers have the role of advising investors.
So far, these seem to be the countries where this scam scheme is most active:
- United States
Astrocapitaltrade doesn’t differ much in terms of scamming techniques employed, so read more on that, too.
How Funding Works
The only method available for depositing and withdrawing cash at Global Rockies are crypto currencies. Digital coin transactions between wallets are one of the fastest ways to transfer funds nowadays.
The downside to it is that they’re definite and anonymous. That’s why it is always recommended to use more reliable and transparent channels, such as credit cards. The broker may charge astronomical fees in the process, and you wouldn’t even be notified about it, as there’s no transparency.
Reasons To Stay Away
The entire list of reasons why we could never recommend this company is discussed throughout this Global Rockies review. To sum it up, the security concerns are the biggest when it comes to illicit entities. In this case, if we add the regulatory warning on this broker, it is clear that their whole scope of business is suspicious.
Not only will your funds be at risk, but no legitimate trading can be conducted. Therefore, no profit accumulation happens and all your investments are for naught.
Few Words by Experts
If you’re struggling to find a broker that has the capacity to meet all your trading demands, please contact us. We’re an independent service that offers consulting and help in picking a broker that best fits your expectations and preferences. All our advice is free, so do not shy away from contacting us at any time.
Whether you want to find out more about a particular broker, or just wish to hear some recommendations on reliable firms, we’re at your service.
What Is Global Rockies?
This is an illicit brokerage site that doesn’t fall under any regulation and is actually blacklisted in Germany.
Is Global Rockies A Good Broker?
No, this broker cannot be considered good or reliable due to a missing license and risky trading conditions. If you’re looking for an alternative, we can suggest other safe brokers.
What Are The Spreads Of Global Rockies?
Since the firm is not transparent, fees aren’t revealed. If you want a brokerage with better conditions and tighter spreads, contact us for recommendations.