CBT Markets: feedback on the site and trading conditions

Attention! Fraud company!

Leave a request for a refund from a scammer.

Choosing the right platform for trading is another test. Many scammers are good at hiding their true colors behind promising claims, advertisements, and fictitious benefits. A striking example is CBT Markets. Judging by the reviews, at first the pseudo-broker promises “mountains of gold”, but in the end he scams naive traders.

What is known about CBT Markets?

The intermediary claims to have 15 years of trading experience and has been operating since 2009. But there are practically no reviews and information about him on the Web. To understand how much the “kitchen” actually works, we used the WHOIS service and found out that the domain was registered in September of this year. The company has been operating for a little over a month, and all claims of experience are a common lie.

The footer says that CBT Markets is a group of companies that includes First Prudential Markets Pty Ltd and CBT Markets LLC. 

The first brokerage, judging by the reviews, is suspected of fraudulent activity. 

And the company CBT Markets LLC, which is allegedly registered in the territory of Saint Vincent and the Grenadines, does not exist at all. It is not in the database of offshore organizations. 

There is also no information about her on the web. 

Among the Australian organizations, CBT Markets does not appear (there are only a few consonant ones). Therefore, it is obvious that there can be no talk of any official registration and activity.

As for the office address indicated on the website, it is fake: in fact, the banking institution First St Vincent Bank is located here. It is clear that it has nothing to do with CBT Markets.

Other contacts include an email address and a phone number. But even here there are nuances. After “breaking through” the number on the Web, we found out that it appears on thematic forums. It is indicated by self-styled “professionals” who allegedly teach trading and help trade Dogecoin. It is clear that these are front people working for CBT Markets and helping crooks to lure and breed traders. 

CBT Markets claims to operate under an Australian AFSL license and has been awarded the "Best Forex Broker in Australia". But there is no confirmation. The link, which supposedly should display the list of nominees, actually leads to the site cbtmarkets.net.

We also checked if CBT Markets is listed in the asic.gov.au database, but there was no fake broker here (again, only consonant names).

Its activities are also aimed at residents of the CIS countries, since the platform has a Russian-language interface, and reviews left by residents of Russia have begun to appear on the Web more and more often. But since no broker can work here without a license from the Central Bank of the Russian Federation, we checked whether CBT Markets is listed in the official database. The result is again null. 

Internal documents can be viewed only after registration. The crooks do not allow users to first familiarize themselves with their rights, obligations, existing risks. Therefore, by registering, the latter literally get a “pig in a poke”.

The footer contains a list of social networks that allegedly have the official pages of the broker, but in fact they do not exist, and this is another method of rubbing into trust. 

Review of trading on the site: features and offers

The company attracts the attention of users with such fictitious advantages:

• a large selection of trading instruments, including more than 60 currency pairs, 100+ stocks, indices, commodities, gold, oil, silver;
• low spreads from 0 pips;
• the ability to trade through the Metatrader 4 (MT4) and Metatrader 5 (MT5), IRESS platforms;
• VPS solutions for Expert Advisors, scalpers and automated trading.

But as such, we do not see specifics. To learn more about, for example, account types, you must first register. The crooks are doing everything to expand the client base and individually breed each user. 

Platform Reviews

There are few reviews about CBT Markets, since the platform has been functioning for a little over 1 month. But even those that we managed to find indicate that the broker uses “kitchen” methods in his work, and his main goal is to rob as many traders as possible.

How not to become a victim of a scam?

The pseudo-broker CBT Markets sets itself the main goal - to lure as many users as possible. For this he:

• developed a referral program (allegedly the client brings newcomers and receives a reward for this);
• leaves his contacts on thematic forums on behalf of professionals who will help you learn the basics of trading;
• promises users "mountains of gold" and individual terms of cooperation.

But all this is a lie. Rogues imitate the trading process, suggest to traders that they will earn big money on the site, and motivate them to make large deposits. But if you can replenish your account without problems, then you will not be able to withdraw money. Judging by the reviews, the funds are either drained or frozen, allegedly due to the fault of the trader or the system.

A separate story with commissions - their size rolls over, and the client has to pay for everything: stamp duty, deposit / withdrawal, each transaction, training. And this is not the whole list. Often scammers continue to extort money even from those users who have already been scammed. They claim that there are some uncovered interest payments. And if the user does not return the money soon, CBT Markets will sue. Of course, there will be no judicial showdowns - all threats are made for the purpose of psychological pressure. 

Summing up

CBT Markets tricksters know how to impose their services. They have neither licenses, nor registration and internal documents, they do not disclose important information for clients regarding management, trade features. At the same time, they eloquently talk about their “advantages”, which, judging by the reviews, attract attention. Do not be fooled by advertising and promising slogans of these crooks. Everything they say is a lie.