Searching the internet for some reviews on Brokergea, readers might find a few of them praising the quality of service that this broker supposedly provides. Please, do not immediately believe these to be fully true.
By visiting the official website, those interested in this broker can immediately see that the site basically doesn’t function.
The shortcuts and links to other pages seem to be broken, so only the site’s home page is viewable.
There, we can read that Brokergea is a trading site founded by Brokergea LTD in St. Vincent and the Grenadines.
It is supposedly licensed there. Even if this company is legally created in SVG, that doesn’t mean they are regulated.
The best way to make sure of this is to check the SVG FSA database. Of course, after a thorough check, we can find that there exists no company with this name in their database.
|Address||St. Vincent and the Grenadines|
How Reliable Is Brokeragea? Regulation and Safety of Fund
After making sure that Brokergea is a brokerage firm not regulated by FSA in SVG, one can find this as a warning sign. This refers to making a decision if to invest with this shady trading platform or not.
Not being regulated by jurisdictional regulators means that this company operates without meeting the basic conditions.
Before investing, every potential client would like to make sure their funds are safe with a particular trading company.
Sadly, the money someone plans to invest can never be safe with an unlicensed offshore company like Brokergea.
Overview of Brokeragea Trading Platform
Traders can expect the Brokeragea trading platform to function exactly how their official website does- badly. While the home page has nothing but words of praise for this company, the trading platform is basically nonexistent.
Like the other links on the site, access to the trading platforms doesn’t work and the clients can’t even get a preview of how it’s supposed to look.
This should be enough to repel potential investors in time before they even think to invest anything. If it doesn’t, and someone by chance decides to try and go to depositing options, they will probably remain frustrated with this too, as it probably won’t work either.
The site claims to allow users to access the currencies market, commodities market, indices market, etc. No trading platform, no possibility to test the trading system and services brings a user to think that this cannot by any chance be a legal, licensed broker.
Brokeragea Offers Different Trading Accounts
There are three different accounts to choose from when you want to start trading. These are
The minimum depositing amount necessary to start the cheapest account is pretty high: the requirement is $1000 with unreal leverage of 1:400.
If this brokerage firm wasn’t suspicious enough by now, such a high minimum deposit and insane leverage are proof that there is a scammer behind a seemingly decent trading company.
Legal brokers aren’t allowed to offer such high leverages, so for them, the most common leverage is around 1:30. Scammers, who want to attract as many investors as possible, offer ridiculously high leverages, so beware of that at all times.
Deposit and Withdrawal Method for Brokeragea
As mentioned, the minimum deposit amount on Brokergea depends on the type of account chosen and starts at $1000. This is too high for a legal broker and is particularly often with scammer traders.
While claiming to have depositing available through Visa, MasterCard, and BTC, this can be hardly confirmed since the links to the deposit pages are broken.
Something like this is absolutely unallowed with acclaimed top-tier broker sites.
To make trading on the site more attractive to potential victims, scammers have of course mentioned bonuses possible. However, the scary fact is what their bonus policy reads.
It actually states that any bonuses obtained can be subject to obligations tied to a particular transfer. Besides that, the company reserves the right to change or cancel any reward.
Here’s a Look at How The Scam Works
There’s no trader who wouldn’t like some easy money and fast earnings. Nothing too good is true, though, and this is undoubtedly the case with online trading.
Manipulative and calculated scammers could make investing and trading look easy. They can also offer to do all these difficult tasks and decision-making instead of you.
This is when you should say no. Refuse to accept their services that come with a huge and unfair price. If it’s a scammer you are dealing with, not sharing your personal information and not investing any funds is an absolute priority.
Chances are, you will be a victim of cyber theft and can hardly or never at all withdraw your invested funds.
Recommended Forex Brokers
With the increasing popularity of online trading platforms, the numbers of fraudulent brokers increase drastically as well.
Whether you are new to online trading markets or a knowledgeable trader, never hesitate to take the time and do a detailed check on every potential brokerage firm.
If you need more suggestions, below is a table showing some of the best and most reliable broker companies that are widely recommended and very successful in their field.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Fforextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||Xm.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||Hfm.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||Fbs.Com|
Besides a non-functional site, which by itself is highly unprofessional, this broker is very suspicious after a detailed evaluation is done.
Most importantly, they are an unlicensed offshore company that can never be trusted to safely deal with your funds!
The best advice given to new investors is to always check a potential broker with the jurisdictional regulator’s database. If they aren’t there, understand that this is a red flag and that the broker isn’t who they claim to be.
Simplest and most probably right guess is that it is a financial swindler, trying to take your money and not provide the promised services.
Yet, even if the scam does happen, there is no shame in speaking up about it to authorities first, as well as jurisdictional institutions that can help work on restoring the lost money.
Last but not least, do share your experiences with us and help others stay safe, too.
FAQs About Brokeragea Broker
What Is The Brokeragea Minimum Deposit Amount?
The minimum deposit amount on the Brokeragea website is $1000.
What Are The Trading Instruments Available at Brokeragea?
The broker offers access to currencies, commodities, indices, stocks, and digital currencies.
What Account Types Does Brokeragea Offer?
Types of accounts to choose between are Starter, Classic, and Intermediate.