Is MilleniumOne a scam or legit broker? Read MilleniumOne Review
According to reports, Fiesta LLC, which was set up in Saint Vincent and the Grenadines in December 2021, is the owner of MilleniumOne. The website of this broker is https://www.milleniumone.com/. Any brokers exclusively registered in St. Vincent and the Grenadines are unregulated, and if you invest, your money is at risk. Since MilleniumOne is an offshore entity with secret control and no responsibility to share the information with its account, the absence of licensing is a big problem.
Even though most unlicensed brokers are known to act dishonestly, they often take the same approach. If you’re familiar with it, it’s simple to see the fraudster’s sneaky tactics and defend yourself.
To remind you about the scam, the German regulator, the Federal Financial Supervisory Authority, also issued a warning. Firms that deal in forex, CFDs, or binary options cannot obtain licenses from them. In the nation of services, all such businesses must get a license.
According to BaFin “The Federal Financial Supervisory Authority (BaFin) would like to make it clear that Fiesta LLC does not have authorization under the German Banking Act (Kreditwesengesetz – KWG) to conduct banking activity or offer financial services. This is by section 37(4) of the KWG. BaFin does not oversee the business. There are solid reasons to believe that Fiesta LLC is operating its banking operations and offering financial services in Germany without the necessary authorization, according to the company’s website, millenniumone.com.”
Possible scam activities of MilleniumOne
Forex trading scams, Binary OPtions trading scams, Cryptocurrency trading scams and other investment trading scams are harder to spot. But there are some signs.
Here are some of the very possible reasons why we have flagged this broker as a scam broker in this MilleniumOne review.
- The rules and regulations, Bonus and Withdrawal policies are not legitimate and they are made for defrauding traders.
- The broker makes continuous calls to the traders and urges them to invest higher and higher amounts.
- The broker may have made a number of false claims through its website.
- The broker promises returns that are too good to be true.
- The risk warnings may not be disclosed on their webpage or would be hidden.
- The broker remains operational for some time and suddenly you are not able to contact the broker or the website seems down. The broker also changes the name and website URL without any notice to existing traders.
- The broker may be located in the countries or small islands where there is no proper regulation and registering a company is very easy. Usually, these countries are havens for scam brokers.
- This broker provides you good chances of making profits and when you decide to withdraw your money, they will state their illegitimate rules of withdrawals, and ultimately you are not able to make a withdrawal.
Negative MilleniumOne Reviews and Complaints
MilleniumOne has got many negative reviews and traders who traded with this broker have raised many complaints against it. ReportScam has investigated a lot about this broker and based on the negative reviews, complaints and other scam features, we have listed this broker in the list of scam brokers 2023.
Example of Negative MilleniumOne Review
After Searching internet you will find many negative MilleniumOne Reviews. Users have frustrations and feel cheated after trading with this broker. ReportScam does not recommend traders to trade with this broker and your funds may not be safe with this broker and MilleniumOne reviews are negative. Instead we recommend looking for regulated and reputed brokers who can really help in growing your investments.
Scammed by MilleniumOne? How to get your lost money back from MilleniumOne?
The best solution recommended for getting your lost money back from MilleniumOne is Report Scam Community
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MilleniumOne Review: Conclusion
To begin with, MilleniumOne is a mysterious site that needs validity. It isn’t authorized to offer trading services as it does not hold any valid license and is targeting clients of different nations. So, we advise you to stay away from a such brokers as your money may be at high risk with them.
Also, to prevent yourself from scams like – Forex scams, Binary scams, Romance/Dating scams, Cryptocurrency scams, or any other scams, you should pick a broker or company regulated by some major regulators like FCA, FINMA, SEC, FMA, ASIC, etc. Check the reviews of brokers and also read the policies and terms and conditions. These small details will prevent you to become a victim of broker scams.
To read more about Scam Brokers and their Reviews, Visit Scam Brokers 2023 Page to avoid Cryptocurrency trading scams, Forex trading scams, or other online scams.
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Note: Report Scam Community has conducted many researches before flagging MilleniumOne as a possible scam in this MilleniumOne Review. Are you planning to trade with MilleniumOne and invest your money? Report Scam suggests you to read this MilleniumOne Review first.