Elite AI Review: Nothing Elite About These Common Thieves

The website that hosts this fraudulent broker lacks the pizzazz you’ll find with most contemporary European companies. There are a few reasons for this, one of which is the fact that the hoax doesn’t rely on a website to attract victims.

How did it manage to entrap and defraud so many investors, then? Find out in our Elite AI review.

Falsified Company Credentials

The easiest way to assess an Elite AI broker’s legal status is to check their company credentials. Luckily, these frauds didn’t try to send us on a wild goose chase like YLCHAT for instance. They proudly present their information on their website in a manner that may seem legit, but upon inspection proves to be completely fake. The group claims to own several company branches, all in different jurisdictions.

Elite AI Markets (Pty) Ltd is supposed to be from South Africa, with an FSCA license number. The FSCA database does not contain any entities with this name. Elite AI International Group Limited should be from the Cayman Islands, but again, no entry in the CIMA database. Elite AI Global Limited is allegedly based in Vanuatu, but is not registered with VFSC.

Numerous Regulator Warnings

As of recently, the company, if you can call it that, has come under scrutiny from several authorities. The regulatory bodies that have noticed the predatory behavior of this fraudulent group include AMF, AFM and IOSCO.

With the group placed on a regulatory blacklist, there can be no doubt that we’re dealing with an online hoax. If you have invested any money with this con-circle, contact our experts for help with recovery.

Who Does the Hoax Target?

This one-page scam website is mostly oriented towards the French and Spanish speaking regions:

• Spain
• France
• Belgium
• United Kingdom
• Netherlands

The conners claim to have been in service since 2009, but the WhoIs information tells us eliteai-t.com website was created in 2023. Even though it is almost two full years old, there still aren’t any Elite AI reviews on the web.

How Fraudsters Reach Their Victims

The Elite AI trading fraud piggybacks on the relative popularity of Elite AI Tools, a niche site that hosts a variety of AI-enabled programs for various applications.

The story is that the platform hosts an AI that can predict the market shift. Since AI is the buzzword of the decade, numerous other cons like TradeCenterFX spin the same lie. The victims are recruited into the con by boiler room agents who contact the marks by phone. In this case, the agents solicit an investment scheme that allegedly makes huge profits overnight – courtesy of hyper-advanced AI.

None of it is real, though, and the money is simply stolen. If you need help recovering your lost investment, contact our legal team.

Accounts That Make Millionaires Blush

There are several Elite AI login account tiers depending on the accumulated deposit. This is a staple of online schemers, who constantly return for more cash to “unlock benefits.”

The prices are a complete ripoff no matter how you cut it:

• Bronze – 10,000€
• Silver – 25,000€
• Gold – 50,000€
• Plarinum – 100,000€
• VIP – 200,000€
• TOP – 1,000,000€
• Business – 5,000,000€

Ridiculous Trading Software

The main trading app used with this would-be broker is WebTrader. As far as WebTrader solutions go, this one is far below any benchmark, and as suspected, there’s no AI in sight.

The program serves as an account creation portal, client dashboard, and a trading platform. As for the features, it supports buy/sell orders and an asset selector, coupled with a basic charting tool.

Dishonest About Instruments

Fraudsters know that, in order to seem competitive, they have to offer a large number of trading assets. This self-proclaimed broker advertises more than 1,000 CFD-type instruments alone.

The trading app, however, contains less than 300 assets total:

• Forex – EUR/USD, AUD/NZD, GBP/CHF
• Cryptocurrencies – BTC, ETH, XRP, DOGE
• Stocks – AT&T, IBM, AMD
• Commodities – Natural Gas, Sugar, Gold
• Indices – S&P 500, Nasdaq, Nikkei

No Cost Disclosure

The only bit of information you’ll ever get about the trading parameters is the leverage. This is way above the legal limit in most jurisdictions, skyrocketing to 1:500. Regulators in the EU, for instance, have imposed a leverage limit of 1:30 in order to protect client funds.

That’s about all the data that is revealed. There’s no talk about Elite AI fees, commissions, swaps, spreads, or basically any other cost. The hidden billing structure is also there to allow the cheaters to invent costs for an up-front fee scheme.

Murky Payout Conditions

The broker, if you can call it that, does not include a Terms and Conditions document on their website. Thus, the Elite AI withdrawal conditions are never really defined. The site advertised support for bank cards, bank wires, and payment apps. However, the client dashboard only accepts direct crypto payments.

There is no automatic payment processing either for deposits or withdrawals. This makes the client rely on their boiler room agent for all money flow, and we all know that withdrawal is not in the cheaters’ interest.

Nobody Answers Support Tickets

Customer support should be accessible through a live chat in the client area, or a contact form. None of it works, though, as nobody answers any support requests.

This means that the con artists are the only ones who can make first contact. If they deem it unnecessary, you can’t get back at them no matter how hard you try.

Got Robbed By Scammers? We Can Help!

This faux brokerage company offers nothing but ruin for any investor. Anything you see on their website is just a ruse intended to keep you spending money for as long as possible.

The Elite AI scam has been around for a few years now, and in that time, it has robbed thousands of people. If you are one of them, consider booking a free consultation with our recovery experts. You may reach us anytime by using our site’s live chat feature.

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