Overview of Obsbit Review:
With the financial industry growing at a much wider scale than what the regulators can supervise, the industry has fallen victim to scam brokers from all around the world. These scam brokers put up a seemingly legitimate picture of the company and scam innocent traders. One such scam broker is Obsbit. Obsbit claims to be one of the leading online trading platforms that offer cryptocurrencies and other tradable instruments online. It claims many more things that will be discovered as complete hoaxes in this review. Read our review of the Obsbit scam to know more about the tricks they played to get innocent traders to fall for their scam.
This section focuses on explaining the demands and offers met by Obsbit. We will also be explaining all the red flags that are posed in the review due to the ill intentions of the company.
The major disadvantage of any scam broker is the lack of reliability. This is because the brokers who are not regulated do not come under the supervision of any regulators thus making the traders’ money unsafe with them. The unregulated brokers do not have to follow the rules made by the regulators as well which makes them vicious and dangerous. In our case, Obsbit claims to be owned and operated by another company under the name of Setonix Holding LTD. Upon researching a bit about the parent company, we came to know that both the companies are registered in the Marshall Islands. For those of you who don’t know, Marshall Islands are a part of the offshore zones. Therefore, this is the first red flag against Obsbit and gets us one step closer to the fact that Obsbit is a scam.
What does Obsbit really offer?
Even though on their website, Obsbit claims that they offer a variety of tradable instruments such as commodities, indices, stocks, etc. they present a completely different story when we tried the demo accounts. Upon logging in with their demo account, we noticed that Obsbit only allows the traders to trade in cryptocurrencies. This is shocking because on the website they claim something else only. This raises yet another red flag against the Obsbit scam in this Obsbit review.
Another fact that shocks us is that the internet is flooded with negative feedback and comments about Obsbit. The complainants claim that all of them were treated with respect and like royalty till the day they filed for withdrawal. The reviews state that upon filing for withdrawal, the brokers associated with Obsbit vanish. This raises yet another red flag against the Obsbit scam.
Obsbit payment methods:
When it comes to the payment methods offered by Obsbit for withdrawal and deposits, it is no surprise that this scam company tried yet another hack to keep the customers from going away. Obsbit only offers credit cards and bank wire transfers as their payment method and this raises yet another red flag against the Obsbit scam.
Conclusion: Is it a scam or legit?
To conclude, Obsbit is a scam. We request our readers not to trade or invest with this Obsbit scam broker. If you have been scammed by Obsbit, report now and get instant replies with fund recovery solutions.