In this article, we’ll be reviewing GTLOT, is it legit or a scam? What they entail, how they work and some important things to note about them. GTLOT Review (gtlot.com Scam or Legit)
To clear doubts, this is a gtlot review, that you need to consider.
It’s a major red flag, considering the fact that GTLOT does not fall under any regulatory agency.
Also, varying sources have proven the fact that GTLOT is in cooperation with automated trading software. Concerning this, such websites are known to be notorious for scamming schemes.
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However, it’s important to note that there will be no regulatory agency to hold them responsible, should in case they get away with you hard earn water, meaning as their customer, you’re not protected.
How does it work?
In this section of the article, we will be discussing how unregulated forex brokers work.
· Persuasive calls: Usually, unregulated Forex brokers would try to persuade people to make an initial minimum deposit.
· Proposing big Deals: Also, unregulated brokers, offer deals with a huge return that sound too good to be true. Instances are offering to double your initial deposit and or you will be making hundred dollars per day, with no stress.
It is advisable to fall for all these. It is SCAM?
And note that, after your initial payment, they tend to transfer you to a smarter Scam, known to be a retention agent. There, you know what it is.
Withdrawing funds
Have funded your account? you should submit a withdrawal request as soon as possible. Because your funds are never safe with an unregulated broker.
In this section of the article, we will discuss some of the tricky ideas, they use for you not to withdraw from their course.
They will delay the withdrawal process, after the submission of the withdrawal request and this takes a month.
They believe that if they delay it for six months, you won’t be able to file a chargeback. With the delay tactics, your money is gone for good, regardless of how often you remind them or request their assistance to aid your withdrawal, they will never get back to you.
Moreover, it is so important that they have a say to lose all your funds and there won’t be anything to request anymore, following the fact that you’ve signed the Managed Account Agreement or MAA.
The Managed Account Agreement (MAA) means you have authorized them to do anything they want with your account.
How to get your money back?
In this section of the article, we will discuss how to get your money back from unregulated Forex Brokers.
Have you deposited your money with them and they refuse to refund, No worries, as sources have proven that there may be a way or two, to get your money back.
Firstly, to project their intention of not dropping your money, it is required that you keep the mails, to serve as proof that you have been requesting the money back from them, and they never give regard.
Secondly, it is advisable to perform a chargeback policy immediately, from your back. To do this, it is required that you contact your bank or credit card provider to give an adequate explanation of how you have been dropped.
While doing this, it is important to notify them that you deposited your money into a trading company that is not under any regulatory agency, and they refuse to pay it back.
So far, these are the simplest way for you to get your money back from forex brokers that are not under any regulatory body.
More also, if there are many chargebacks performed, it tends to affect the company’s acts, related to payment services.
GTLOT REVIEW CONCLUSION
There you have it, as we have been able to discuss GTLOT, is it legit or a scam? What they entail, how they work and some important things to note about them. Also, we have been able to give a brief overview of how to deal with forex brokers that are not under any regulatory body. You can consider checking out the blog page for more articles like this.