Brokeragea Review – Why You Should Avoid Scheme?
Brokeragea Review – Why You Should Avoid Scheme?

If you need an example of a fraudulent firm, we have Brokeragea. The company is offshore, unlicensed, and banned in one EU country. Since we want to ensure that you have a complete overview of the company and understand why not invest in it, we did a detailed review. Find out what traders honestly think before you end up scammed.

Broker status: Offshore Broker
Regulated by: Unlicensed Scam Brokerage
Scammers Websites:
Blacklisted as a Scam by: CONSOB
Owned by: Brokeragea Ltd
Headquarters Country: Saint Vincent and the Grenadines
Foundation year: 2020
Supported Platforms: WebTrader
Minimum Deposit: $1,000
Cryptocurrencies: Available – total 20
Types of Assets: Forex, commodities, indices, shares, cryptocurrencies
Maximum Leverage: 1:400
Free Demo Account: No
Accepts US clients: No

Is Brokeragea a Broker With a Good Reputation?

Brokeragea is a brand of Brokeragea Ltd, a company registered in Saint Vincent and the Grenadines two years ago. Since SVG has no financial regulator, it has become a popular hub for grey-zone firms. Technically, most of them are registered as financial businesses, but none of them is supervised by any authorities. According to the Financial Services Authority of SVG, Forex and CFD trading providers should opt for a license in the country of service. Yet, after checking the registers of the FCA, ASIC, BaFin, and more, we concluded that Brokeragea did not follow the directive and operates unlicensed.

How Unsafe Is An Unlicensed Broker?

Unlicensed brokers are unsafe. Simply speaking, the company has no higher authority, and nobody supervises its activities. It can vanish at any moment, and your money can disappear with it. 

Also, we want to invite you to read our recently updated reviews of fraudulent brokers SinaraCorp, PrimeDeltas,  and ACE FX. Be careful with these brokers.

​​Is Brokeragea a Legit Broker or a Scam?

Brokeragea is a scam online trading firm. The broker has no regulations and operates from Saint Vincent and the Grenadines. The company is banned in Italy due to scam activities.

Brokeragea Warnings From Financial Regulators

Brokeragea Warning by Consob

After a number of complaints, the Italian regulator CONSOB issued an official warning against the Brokeragea trading scam. According to this warning, the firm provides illegal financial services. The domain was added to the blacklist, and citizens were warned to avoid the firm. If you have any issues with the brokerage, report them immediately.

Traders’ Experience With Brokeragea

While we read numerous negative reviews, we will present you with one of them. That way, you’ll understand the overall traders’ experience.

“Terrible broker, only negative emotions, my balance is already in the red, they just stole money from me and require replenishment, otherwise they will sue, I didn’t even have time to trade! – scams”

– Sitejabber Customer

Brokeragea Platform – Platform Features

Brokeragea offers a typical WebTrader with no special trading features. Also, the software doesn’t support social trading or automated trading, meaning it’s far behind MT4 or MT5. Moreover, customers can look at available trading assets, choose buying or selling positions, see the margin level and deposit more funds. However, it’s nowhere near enough for the investors to succeed in the market.

Access Terminal from PC, Android, or iOS

The company claims to offer access via desktop, Android, and iOS devices. Basically, the app is the same as WebTrader, without any special features. 

However, we highly recommend the MetaTrader app for mobile and desktop devices if you want to start trading.

Educational Features – Free Education for Customers

Brokeragea Educational Features

One of the lures that illicit brokers recently used is offering free education. Thus, if you’re new to online trading and want to get some information first, the broker will provide you with an educational course included in the price. While they call it free education, they will insist that you deposit the minimum amount so that you will gain access to the trading account and be able to learn. Thus, it’s not free and just another tool to hook you into depositing.

All About Brokeragea Accounts

If you’re still interested, here’s an overview of Brokeragea trading accounts.

  • Starter – $1,000
  • Classic – $2,500
  • Intermediate – $5,000
  • Advanced – $10,000
  • Ultimate – $50,000
  • VIP Policy – $100,000

According to the Account Types section, the more you upgrade, the more perks you can get. Likewise, with an Intermediate account, you have technical indicators and economic news. The Advanced account brings fixed pricing, while Ultimate and VIP Policy give access to EU private bank accounts.

Brokeragea Broker – Countries Of Service

According to our research, the broker is mainly active in:

  • France
  • Canada
  • Belgium
  • Germany

In the meantime, avoid scammers like 24TradesFusionfx24 and Oriontero. So, if possible, tell us about your scam experience.

Brokeragea Range of Trading Instruments & Markets

Brokeragea offers traders to invest in:

  • Currency pairs – EUR/USD, CAD/JPY, EUR/CAD
  • Indices – Dow Jones, S&P500, DAX30
  • Shares – Amazon, Tesla, Microsoft
  • Commodities – coffee, soy beans, gold
  • Cryptocurrencies – BTC, ETH, XRP

Brokeragea Trading Conditions

Like any unregulated broker, Brokeragea determines its own trading conditions.

About Leverage And Spreads

The leverage is against regulations and goes up to 1:400. While it may be good since you can earn more profit, it can also put you in 400 times higher losses. That’s why most Tier1 regulators have set a limit on the leverage, whether 1:30 or 1:50 for the Forex market and only 1:2 for cryptocurrencies. Besides, spread is not disclosed, leaving trading costs unknown.

Brokeragea Deposit, Withdrawal Methods, And Fees

The company accepts only two payment methods:

  • Debit/credit cards
  • Bitcoin

Investing in BTC is not recommended since transactions are hard to follow. Thus, scam brokers enjoy transferring your funds from wallet to wallet, hoping to be protected by anonymity and knowing that you cannot get the money back even if defrauded. 

Also, as per fees, the company charges 4% annual interest and claims they can apply daily interest according to the client’s standing. 

Minimum Investment Amount

The company requires a too high initial deposit of $1,000. While the industry standard is $250, you can find some legitimate firms with Micro accounts starting at $10. There’s no reason to risk so much money with shady offshore fraud. Rather find a licensed broker and enjoy earning profits.

Bonuses – A Fraudulent Method

Despite a regulatory ban on bonuses and other incentives, some scheme firms still insist on providing these. Yet, the company has a clause stating, “If the client obtains a bonus, reward, or promotion with more than 10% of the capital, it will be subject to particular obligations, which shall be determined with specific transaction requirements on each dollar of the bonus funds.” Yet, there’s no such specification, meaning that the firm can simply ban you from withdrawals claiming that you have not fulfilled their imaginary demands.

Customer Support – Communication Channels

According to reviews, customer support contacts clients via:

  • Phone calls
  • Emails
  • WhatsApp and Telegram messages
  • Facebook and Instagram
  • Dating apps

If you see the name Brokeragea, know that you’re about to be defrauded.

Scammed by Brokeragea Broker? – Let Us Hear Your Story

Have you been scammed by Brokeragea or a similar bogus broker? Let us know. Our chargeback specialists will do everything in their power to help you recover stolen funds.

But What Is A Chargeback?

A chargeback is a way for the bank to recover funds directly from the merchant. Since there’s a time limit of up to 540 days, we need to act fast. Contact us right away to book your free consultation, and let’s recover your funds before it’s too late.

What Is Brokeragea?

Brokeragea is an online Forex and CFD trading provider without a license.

Is Brokeragea a Scam Broker?

Brokerage is online trading scammed banned in Italy.

Is Brokeragea Available in the United States or the UK?

The company provides its services in the UK but not in the US.

Does Brokeragea Offer a Demo Account?

No, Brokeragea doesn’t offer a Demo account, only Live ones.

Unfortunately, many users start reading reviews only after falling victim to scams. We sincerely hope that you are not one of them!
However, if you're here because you suspect that your investment isn't in a safe place, know that you have the right to claim funds back!

Report a Fraud Case & Claim a Refund from Scammers

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