ShiftHoldings Broker Review: Shift-holdings.com scam?

ShiftHoldings Broker Review: Shift-holdings.com scam?

ShiftHoldings is forex and CFD broker, which promises that their professional advisers will help you along your journey to success. And they urge you to invest in your future now, and start earning today on their platform.

And ShiftHoldings also promise access to 85 forex pairs and lots of CFDs on shares, futures, indices, metals, and energy commodities, with a choice of four account types, leverage as high as 1:400 and a MetaTrader4 platform.

Unfortunately the broker is not regulated, which basically brings their credibility down to zero. Unregulated brokers are virtually anonymous, and as a rule are run by scammers.

Is ShiftHoldings legit?

No, ShiftHoldings is not legit, because they do not have a legit forex license and their company is based offshore.

ShiftHoldings says to be owned and operated by Share Oracle Ltd, a company based offshore in the Commonwealth of Dominica, but they also say to operate within the European Economic Area. See for yourself:

ShiftHoldings Regulation

Bear in mind that for a broker to operate in the European Economic Area, which consists of the 27 EU counties, the UK, Norway, Iceland and Switzerland, it should be duly licensed and authorized by the relevant local financial authorities, and as we already noted, ShiftHoldings is not licensed and authorized anywhere.

You may not think that this is such a big problem, but actually it is. Unregulated brokers are totally unaccountable for the way they handle your funds. In fact they may simply refuse to let you make any withdraws, and you will not be able to do anything about it, because unregulated, offshore brokers like ShiftHoldings are also virtually anonymous. There is no meaningful way to bring a successful legal action against a shell, offshore company – you just can’t get to the real owners, that is all.

So our best advice is to avoid offshore brokers as a rule and trade only with properly licensed and regulated ones, like the brokers you may find in the registers of the Financial Conduct Authority (FCA) in the UK, the Cyprus Securities and Exchange Commission (CySEC) or let say the Australian Securities and Investments Commission (ASIC).

Can I make money with ShiftHoldings?

No, you will definitely not make any money with ShiftHoldings, because you just won’t be allowed to make any withdrawals.

And we do mean that literally. Scammers may use various excuses to cancel your withdraw requests, simply because their offshore brokers are not supervised and do not have to follow any rules. Let us take for example the trading bonuses offered by ShiftHoldings. They come with a minimum trade volume requirement, which you will have to meet before making any withdraw requests. Take a look:

 

ShiftHoldings Withdrawal

 

What is even worse however, is that ShiftHoldings also reserves the right to change the terms of their bonus policy at any time, and that basically explains why your minimum trade volume requirement will be increased any time you are about to reach it, and you will never be given a chance to withdraw. See for yourself:

ShiftHoldings Terms and Conditions

 

ShiftHoldings however, urges you to invest in your future now and start earning today on their platform, which is yet another sign that you are about to get scammed. Take a look:

ShiftHoldings Website

Bear in mind that trading the forex markets involves a high degree of risk, and any one who implies that you may start earning rightaway and get reach, is obviously misleading you. So once again, keep away from shady, unregulated brokers like ShiftHoldings.

What is the minimum deposit requirement at ShiftHoldings?

The minimum deposit requirement to start trading with ShiftHoldings is 250 USD, but since the broker is not legit.

As for the rest of the account types – the Silver, the Gold and the Platinum, the respective minimum deposit requirements are much steeper – 2000 USD, 10 000 USD and 50 000 USD.

What leverage is available at ShiftHoldings?

ShiftHoldings allows leverage of up to 1:400, but since the broker is not regulated and bears all the signs of a scam.

What trading platforms are available at ShiftHoldings?

ShiftHoldings offers a well known platform – MetaTarder4, but because they are not regulated and there is no reason to be trusted.

What payment methods are available at ShiftHoldings?

ShiftHoldings says to accept debit and credit cards like VISA and MasterCard, but since we were not able to confirm that immediately.

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