Glenrocks Review – Master of Disguise Finally Unmasked

The Glenrocks scam doesn’t just claim to be fully licensed and a user-oriented, genuine brokerage service. What these miscreants think will impress their victims are claims about being a global conglomerate that encompasses a whole chain of brokerage companies. 

Keep reading our Glenrocks review to find out what these financial cons have in store for unsuspecting victims and learn to avoid falling into their traps. 

Also, we recommend you not to invest in the fraudulent brokers StoxDC, SwizzPro and AFS Equity.

Glenrocks Is Not a Regulated Broker?

As a broker that is based allegedly in Belgium, they should comply with FSMA regulations. However, checking their register didn’t show up any records of Glenrocks broker. Not only that they don’t have domestic regulations, but also any Tier 1 regulations. Therefore, we already got the first indicator that this broker is nothing but a scam.

Primarily, regulation is there to provide security and transparency. To be honest, this broker lacks everything. Moreover, clients are provided with compensation funds and negative balance protection. All of that plays a key role in choosing a broker.

Glenrocks is a completely anonymous broker, without any credibility. They lack of essential company information and more importantly regulations. All funds deposited with this broker are at extreme risk.

Red Flags From Regulatory Bodies

What else could an anonymous and offshore financial service provider earn except negative attention from regulatory institutions? After it was determined that this conduct is nothing but a nameless sham that doesn’t exist in a single legal register, it was only natural that the warnings followed. 

Although some of these were reposted or originally published by another financial authority, it is important to stress the level of danger this swindler imposes. Otherwise they wouldn’t be blacklisted by IOSCO, CNMV, FSMA, AFM, FSC, and CONSOB.

Customer Comments Were Manipulated

It’s a well known fact that many fraudulent companies use different deception strategies. One of the most prevalent tactics is to artificially improve the firms’ standing on various ratings sites by posting fake comments.

This one is no different, which you can clearly see if you examine the Glenrocks reviews found on SiteJabber, for instance. With the majority of all comments being created by review seller networks, this group of cheats currently boasts an average rating of 4.0 out of 59 separate posts on Reviews.io.

While not immune to the predatory antics of these con artists, TrustPilot still sheds some light on the whole operation. There, the truth is starting to surface, with nearly all of the comments being critical of the platform.

Glenrocks Trading Platform and Other Apps 

As expected, this broker doesn’t provide any trusted trading platform. For instance MetaTrader. The only available option is a web trader. It’s not by default a bad option but certainly doesn’t have all the essential features. 

Many traders these days are looking for advanced options. Some of those are social and copy trading. Moreover, advanced EAs, automated trading, etc. All that is missing with this broker and its web-based software. Not to mention that the mobile app is not available for any device. Therefore, you need to rely on your browser to get access to your trading account.

Important to realize is that this broker advertises AnyDesk as a useful tool. This tool is used by scammers to get into your device and extract all necessary information from you. After all, money as well.

Glenrocks’s Trading Assets and Instruments

As can be seen in many Glenrocks reviews, traders are caught by fishy adverts to join this broker. Often those adverts present cryptocurrency investments. However, this broker doesn’t offer cryptocurrency assets at all.  Only 4 major financial classes are available. Although, data for those are most probably fictive.

Those 4 classes are:

• Forex – USD/JPY, NZD/CAD
• Commodities – natural gas, oil
• Indices – UK100, ESP35
• Shares – Apple, AMD, Tesla

What Are The Different Glenrocks Account Types?

Glenrocks broker is shamelessly requiring insane amounts of money for deposits. Without any credibility, of course. As shown above, they don’t provide any essential information for the trader. But they provided information about account types. To be honest, quite poorly.

Those options are:

• Trial              250 EUR
• Easy Start     2.000 EUR
• Standard       10.000 EUR
• Bronze          25.000 EUR
• Silver            75.000 EUR
• Gold             180.000 EUR
• VIP               350.000 EUR

Another key point is the benefit of each account type. To be precise, there are none! With this fraudulent broker, you shouldn’t invest a penny, because you won’t get anything in return.

Can a Trader Use a Demo Account?

Glenrocks broker didn’t bother providing demo accounts for their traders. Either you will deposit money or you can forget about trading with them. That’s how scammers are dealing with their customers. While with some Tier 1 licensed companies, you have the option for a demo and micro-accounts.

Terms and Conditions for Glenrocks – What You Should Know

This broker claims to provide insurance for clients’ funds. Moreover, they claim to provide fast withdrawals and 24/7 professional customer support assistance. But if you take a look at any Glenrocks review, you will see the opposite experience. Traders were losing money, having trouble with withdrawals and even with verification of their accounts.

Many traders have filed a complaint regarding withdrawals. This broker constantly finds a reason why not to return you with your profits. Since this company is completely fake, all information about your account is fake as well. Therefore, all money that you deposited is not invested but sent directly into their pocket.

That’s why you will hear often problems with verification of the account or non-existent fees, taxes, etc. Another trick in their sleeve is a bonus scheme. They will provide you with certain virtual funds, but to get the profits out, you need to make an insanely high turnover.

Leverage, Spreads and Fees

As mentioned, some essential information is missing from this broker. But to be honest, even if they presented anything, after all, we wouldn’t trust it so much. Leverage as the crucial parameter in trading is missing here. 

Therefore, your account can get into debt in a blink of an eye. Especially because this broker doesn’t provide negative balance protection. In addition to that, spreads are quite speculative. They claim to provide raw spreads starting from 0.0 pips. 

This is not common even for licensed brokers. But all that comes with a price, mostly through commission per lot. However, this broker doesn’t reveal information about commissions and fees either.

Scammed by a Glenrocks Broker? – We Want To Hear Your Story.

Firstly, let us hear your story. Secondly, you can start the fund recovery process. Whether you made a crypto transfer or a card transfer, first thing is to trace the money. Our expert fund recovery team is there to assist you. Get in touch today and book your free consultation.

What Is the Chargeback Procedure?

Chargeback is a simple reversed transaction in case of a debit/credit card purchase. Important to realize is that you can only reverse those transactions in the first 540 days. Therefore, you can’t wait too much. Don’t let these swindlers get out with your money. Contact us now!