A Detailed Scam Comeback Described in Definite Area Review
Definite Area is one of those scammers we’ve encountered before who shut down their operations. However, the company seems to be back under a new domain, scamming people as before.
Therefore, we decided to warn you about this firm and the danger it poses for your funds. Read our unbiased Definite Area review to learn it all.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||CNMV, BaFin, CONSOB, FSMA, AFM, FINACOM, A-TVP|
|Types of Assets:||Forex, commodities, cryptocurrencies, stocks, indices|
|Free Demo Account:||No|
|Accepts US clients:||Yes|
Is Definite Area a Scam Forex and CFD Broker?
This company is an anonymous, unregulated trading brokerage. The company doesn’t provide any information about the headquarters or the owner behind the scenes.
However, we have two phone numbers, one from the UK and one from the Netherlands. Therefore, we searched for the Definite Area regulation with the UK FCA and the Dutch AMF. Instead of a license, we found regulatory warnings. According to these authorities, Definite Area is a definitive scam.
Definite Area is a scam broker that vanished after several regulatory warnings. However, the company is back again, under the new domain but with the same scheming pattern.
Since this has been cleared, we can proceed and see what else we know about this unlicensed financial swindler.
Warnings From Financial Regulators
In September 2022, the Spanish CNMV issued an official warning against the Definite Area trading scam. According to it, the company is not authorized to offer investment services in the country.
In October of the same year, German BaFin issued its own alert. The regulator stated that this company is presumably in the Bahamas and solicits German investors without an appropriate license. Hence, the regulator started investigating the matter.
Finally, an independent regulator from Hong Kong, FINACOM, warned against Definite Area trading scam, sealing the issue.
Countries Of Service – Where Does the Broker Operate?
Our in-depth analysis shows that Definite Area is mainly targeting the following countries:
While there are surely others, as we can conclude from the regulatory warnings, these are the most victimized. Wherever you reside, steer clear of the name Definite Area, regardless of their domain.
What Traders Have to Say About Definite Area Brokers?
At the time of writing, we found 40 Definite Area reviews on Trustpilot. We also found a warning about fake reviews that have been removed.
Out of these 40, 95% is 1-star, showing how bad this broker is. Of course, these reviews refer to the old platform, but the new one is not any better. The company still operates unlicensed, which affects traders in case of withdrawal issues.
What Platforms Does Definite Area Offer?
The new website is quite cryptic. There’s no mention of the Definite Area trading platform or its features. The only thing that’s advertised is access to “modern technologies and services.”
However, once we registered an account, we got access to the most basic WebTrader. It’s more of a TradingView chart with several attached indicators. TradingView chart is a free charting tool you can find on the internet without registering yourself with scam brokers.
In addition, the platform is only browser-based, meaning you have no access to mobile trading apps for Android or iOS. It’s another significant drawback.
Definite Area Trading Assets
Another thing that website doesn’t elaborate much on is the offer of tradable assets. On the platform, we found the following:
- Currency pairs – EUR/USD, GBP/NOK, AUD/SEK
- Commodities – gold, silver, natural gas
- Indices – AU200, FTSE100, NASDAQ
- Shares – Amazon, Tesla, Microsoft
- Cryptocurrencies – BTC, BCH, ETH
It should be noted that this platform access is not through a Demo account but view-only. Therefore, we cannot guarantee that you will get the same offer once you pay the money.
Definite Area Account Types and Investment Plans
You can choose one of the seven Definite Area account types:
- Standard – $250
- Bronze – $3,500
- Silver – $10,000
- Gold – $25,000
- Platinum – $50,000
- Pro – $100,000
- VIP – $250,000
Each one brings more insured trades, company financing, and a bunch of other perks we’re just not inclined to believe in.
As per investment plans, this company plays on your financial needs, giving you these options:
- Secondary income,
As you can guess by the names, each plan should help you achieve your life goals. However, nowhere can you see the minimum deposit for them nor a detailed plan of how you can reach the desired target. More talk without actual proof.
Can You Use a Demo Account?
While claiming to offer free training to its investors, this firm doesn’t provide a Demo account. Simply put, you won’t be able to access the platform or place any trades before investing a minimum of $250. It’s a usual tactic of scammers extorting money before you have the time to do due diligence.
Scammed by a Definite Area Broker? – We Want to Hear Your Story
Let us know if you were scammed by Definite Area or any similar trading fraud. We’re here to offer you a consultation and help you with the chargeback procedure.
Your money is not lost, especially not if you used your debit/credit card. Contact us now and allow us to assist with the matter!
What Is the Chargeback Procedure?
A chargeback is one of the most essential tools you have to fight online fraud. If you suspect that your transaction using your bank card is fraudulent, you can submit a dispute.
Relevant banks will then review the case and refund your money if they find it justified. All you need is the proper guidance, and we’re here to offer it. Book a free consultation now!
What Is Definite Area?
Definite Area is an unregulated financial swindler that’s been lurking for victims.
Does Definite Area Offer a Demo Account?
This company doesn’t offer its investors to test trading through a risk-free Demo.
What Is the Definite Area Minimum Deposit?
The broker requires a minimum deposit of $250 to open a Standard account.