CobraCFD (Cobracfd.com) is another cruel Forex broker scam purporting to offer users Forex, indices, and trades stocks. Cobra CFD is combining to offer the best features when it comes to Forex trading. They claim to offer ultra-fast and secure platform with world coverage. Are all these claims true? Most members are crying foul after having their accounts blocked by this broker. Read this detailed COBRACFD review to find out more.
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Most members are ruing signing with this broker for what they term as unfair treatment. Once they deposited funds with this broker, no communication took place. After receiving numerous email complaints from members, we decided to investigate. Why are investors falling for this scam in the first place? Most investors sign up with online investment platforms without conducting due diligence. Does the broker in question have a solid online reputation? Are they safe to trade with?
Professional scam artists know for a fact we all want to make an extra buck. And this is where they set up a trap by claiming to have a way to make investors rich. What these scam artists are good at is cloning trading websites and luring investors in. Thanks to our years of trading experience, we know how to spot such scams. Before signing up with this broker, ensure you read this detailed review. CobraCFD is a certified scam which we will be exposing for all to take note.
According to the disclaimer at the footer of the homepage, this platform is owned by CobraCFD Ltd. Is this company dully registered? After checking with a few registrars of companies, this company’s name didn’t show up. It seems we are dealing with a broker who is totally anonymous. Disclaimer further goes and reveals this broker is based in the Marshall Islands. This is proof we are dealing with offshore brokers. Offshore brokers are known for openly breaking set trading regulations and rules stay away!
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Who are the founding members of this brokerage firm? Can we get the actual names of people running this website? Anonymity is a dangerous partner and all investors should stay away. These scam artists are avoiding any backlash from authorities and victims. Stay away from brokers who are anonymous and based offshore.
After checking with a few regulatory bodies, we are sure CobraCFD is not licensed. Some of the regulatory bodies we contacted include ASIC, COSNOB, CySEC, FCA, FSA, and NFA. It’s clear we are dealing with an unauthorized broker. Signing up with such online entities is risky as no protection is promised by CobraCFD.
Why have they failed to post any details regarding their licensing? Disclaimer at the footer of the homepage fails to reveal any details regarding their license. It seems this broker lacks any credentials to prove their authenticity. Make sure to stay away from brokers who lack any valid credentials. Cobra CFD is openly defrauding investors with their fake brokerage company. Make sure to choose brokers who have a valid license. In case of any problems, no regulatory body will help in recovering funds.
Have you noticed how users are getting insane profits with their demo account? CobraCFD is rigging their demo account to entice users to sign up? How is this possible? Scam artists know users will want to try out the demo account. By having a rigged demo account, they ensure users get over 98% successful trades. Even a newbie who knows nothing regarding trading will make such high trade wins.
Investors will go ahead and sign up with a real account after getting such high margins. Most investors sign up hoping to mirror same results. A demo account uses virtual money which is not real. Investors are to deposit real funds when opening a real account. Immediately they make deposit, their money goes to scammer’s bank account. These are some of the scam tricks we will be exposing which are used by Cobra CFD.
Another perturbing issue we found is how unfair their account types are. Cobra CFD is furnishing users with four different account types to choose from. These accounts are named Mini, Bronze, Silver, and Gold. What we noticed with these accounts is how similar they are to each other. These accounts come with an expert adviser who is never available. After depositing funds, these advisers go missing.
CobraCFD is using email chats to respond to queries made by members. A problem with emails is they are one-way communication method. When asking about how to deposit, these scammers will respond immediately. Their accounts become suspended with funds still in them. Make sure to check whether a broker uses live chat which is vital. Live chat helps to help ease communication between brokers and investors.
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How can funds be safe from a broker who is anonymous and lacks trading license? Why have they failed to reveal how they handle funds? Is it possible users are depositing funds straight to owner’s personal account? These are some of the reasons why dealing with CobraCFD is a risky affair. Which bank do they use to deposit funds? These are some of the reasons why you should not sign up with Cobra CFD.
Another shocking issue is in regards to segregation of accounts. CobraCFD is pooling funds in one account which is not acceptable. Merging assets to one account is highly risky and could lead to members losing their deposits. Security is also another issue as this broker lacks DDoS and SSL encryption protection. Stay away from brokers who lack proper security features.
Evidence is clear we are dealing with a certified scam. Make sure to mark all their emails as Spam and never click on any links sent.
Adding this broker to our scam blacklist will help protect our readers.
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Wishing you a successful trading experience.
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