Ellipse Group: feedback on cooperation, offers and trading conditions

Attention! Fraud company!

Leave a request for a refund from a scammer.

With the growing popularity of online trading, there are many companies that provide it. It is difficult to find a reliable broker, as only 10% of them works honestly. Ellipse Group is not included in this number. In today's review, we will tell you why you should not trust this sharashka office, and show the reviews that victims write about it.

Brief information about the "kitchen"

When visiting the Ellipse Group website, it immediately becomes clear that this is another scam from the creators of Top-Account, Nfian, HE-Llc, Ez-Visa and Hallip. In total, I threw more than 50 scam projects, many of which we talked about earlier. Some of them have already collected a pool of negative reviews and closed, while others continue to deceive users. Fraudsters make their sites carbon copy without investing a single extra penny in them. The meager cost of the site ellipsegrp.com serves as confirmation.

Ellipse Group claims to have been operating since 2018, and during this time, more than 400 thousand traders allegedly became its clients. This is another fake, designed for naive users. The check showed that the domain was created in June 2021, and the date of its termination is 06/17/2022. Fraudsters do not expect to work for more than a year, as they understand that they will soon be covered by a flurry of negative reviews.

The contact section contains the UK address, phone number and email address. In the reviews, traders complain that Ellipse Group ignores all requests, and this is not surprising: we found out that the scammers indicated a fake number and e-mail. Investors may not expect a response when money starts to disappear from their accounts.

The hero of our review declares registration in the UK under the name Ellipse Group Investment Management. It is pointless to look for his office in this country: there is no such company in the local register of legal entities. In the kitchen's legal documents, we found a clause stating that disputes between it and users are resolved in the courts of Vanuatu. It is not clear why it was indicated: there is no information about scammers in the database of legal entities of this offshore either.

Judging by the reviews, all sorts of scammers often prescribe points that are enslaving for users in legal documents. Ellipse Group scammers were no exception:

• scammers are not responsible for the operation of their website and trading platform;
• scammers at any time can accuse the client of violating the contract, delete his account and withdraw capital from him as compensation;
• scammers will not be responsible for the client's monetary losses, even if they appeared due to their fault.

Does Ellipse Group have a license?

The pseudo-broker hopes that naive traders will take his word for it, so he publishes a whole list of controlling organizations that allegedly issued him permissions:

• CySec (#364/54);
• IFSC (No. 67/68/23/99);
• FSC Mauritius (No. C047566351).

The audit showed that all the Ellipse Group's claims are fake: none of the regulators are aware of its existence.

Scammers also claim that the money of users is protected by The Financial Commission. There is no information about the Ellipse Group in the FinaCom registry, which means that the scammers simply hide behind it.

Most of the reviews about the pseudo-broker are written in Russian. In our country, the interests of traders are protected by the Central Bank. According to Law No. 460-FZ, any agent operating on the territory of the Russian Federation is required to obtain his permission, register as a legal entity and become a member of the relevant SRO. Naturally, Ellipse Group did none of this.

Trading conditions

Fraudsters promise their victims the following benefits:

• minimum deposit $250;
• three types of accounts;
• spreads from one pip;
• assistance of a personal manager;
• round-the-clock technical support (as we already said, contacts are invalid);
• no commission for account replenishment and withdrawal of funds;
• leverage from 1:400 to 1:500.

Scammers offer such a high leverage not because of unprecedented generosity. A coefficient of 1:400-1:500 indicates that there is no real trading and transactions are not brought to the market.  

To lure new victims, the crooks came up with an affiliate program, for participation in which users will allegedly receive “mountains of gold”. There is not a single review on the Internet that confirms the payment of remuneration.

What do traders write about a pseudo-broker?

On the Web, we found a bunch of negative reviews about Ellipse Group. Without exception, all investors consider him a banal scam that does not withdraw money. Some victims complain that scammers have driven them into loans and left them without a livelihood.

What divorce scheme do scammers use?

Ellipse Group makes the first attempts to steal money from a trader when installing the platform. Together with her, the scammers offer to install AnyDesk, a software that allows you to control your computer remotely. If the program gets on a PC, scammers will have access not only to the user's account, but also to his bank cards and confidential information. Charlatans will gradually withdraw money from the account, and when there is none left, they will take the capital from the cards and transfer personal information to other "black" brokers.

If the investor refuses to install AnyDesk, it will still not work to get a profit. Judging by the reviews, the trading platform is tweaked, transactions do not enter the market, and the profit in the personal account is “drawn”. When it comes time to withdraw capital, scammers will try to shake off the stamp duty and the commission for transferring money to the card from the client. If after that he does not have any funds left, the crooks will simply disappear and block the account.

Our verdict

Ellipse Group - low-class "kitchen". This is evidenced by fake contacts and licenses, lack of information about the creators of the project and negative reviews. If you do not want to donate your money to impudent swindlers, bypass this scam by the tenth road!