The buying and selling of financial assets over a network is called “online trading.” Online trading platforms make it simple and easy for investors to buy and sell stocks, bonds, and other securities. Online trading has become very popular in the past few years because it has many advantages over more traditional ways of trading.
Traders can easily and quickly do their homework and trades on the internet, for instance. Investors must use caution when trading online and select a trusted online broker. You can find out if we recommend Northern Bits as a broker by reading our review. To clarify, this is a review of northern-bits.com.
Learn More About the Online Broker Northern-Bits in Brief:
After reviewing their website, it is clear that they are not under the authority of any government body. That is a MAJOR WARNING SIGN!! That should be more than enough to convince you to stay away from investing with them. They also work with websites that offer “automated trading software,” which is another red flag because websites of this type are notoriously well-known for their involvement in various types of scams.
Check out how they are generating fake reviews as well on all platforms like Trustpilot
Therefore, Northern Bits is just another unregulated forex broker. This indicates that the customers are not protected, and it is highly likely that they will get away with your hard-earned money without being held responsible by any regulatory agency.
How does it work?
Forex brokers that are not subject to government oversight typically operate as follows. They will call people in an effort to convince them to make the initial minimum deposit, and they will try any method that is remotely imaginable in order to accomplish this goal.
They will offer deals that seem too good to be true, such as “we will double your initial deposit” or “you will easily make $100 per day.” I beg you, listen to none of what they have to say!!! It’s a complete SCAM! After making the first payment, the customer is passed on to a “retention agent,” who is a more skilled scammer who will try to get more money from the customer. After making the first payment, the customer is passed on to a “retention agent,” who is a more skilled scammer who will try to get more money from the customer.
Can one withdraw funds from Northern-Bits?
When your money is held by an unlicensed broker, it is never completely safe, so you should request a withdrawal as soon as you can. And this is where things start to get complicated.
If you wish to withdraw your money, regardless of whether you have made a profit or not, the process of withdrawing your money will be delayed for a number of months. If they put off the process for another six months, you will lose the ability to file a chargeback, and the money will be gone forever. You will NOT get your funds back no matter how frequently you remind them or how insistent you are that they take them out of the account. And if you signed the Managed Account Agreement, also known as the MAA, which basically gives them permission to do whatever they want with your account, they will lose all of your funds, which means there will be nothing left for you to ask for anymore.
How can you get your money returned to you?
If you have already deposited your money with them and they refuse to give your money back, which is a very likely scenario, there may still be a way or two for you to get your money back. Do not worry about this possibility.
First and foremost, you need to make sure that you keep all of the emails as proof that you have been requesting the money back from them but that they either don’t give it to you or they delay the process for an excessive amount of time with the intention of not refunding your money.
You should start by initiating a chargeback as your very first step! And you really ought to get on with this right away! You should get in touch with your financial institution or the company that issued your credit card and explain how you were tricked into depositing money with a trading company that is not regulated and how the company refuses to return your money. This is the quickest and easiest way to get your money back, but it is also the method that will cause them the most inconvenience.
Because if there are a significant number of chargebacks processed, their relationship with the payment service providers will be severely damaged. If this is something you have never done before, you may not know where to begin or how to present your case to your bank or credit card company. If this is the case, we are able to assist you in preparing your chargeback case. Simply get in touch with us at email@example.com, but be sure to keep your broker in the dark about the fact that you read this article or are in communication with us.
How do you get the money wired to them?
If you have wired money to them, they cannot initiate a chargeback. This step requires you to take the fight to a higher level. Inform them that you will file a complaint with the appropriate authorities. That will cause them to reconsider the refund option. Another thing you can do is write a letter or send an email to the regulatory agencies. Depending on where you live, you can use Google to find the country’s regulating agency for Forex brokers. After that, you can write a letter or send an email describing how you were scammed by them. Make sure you show them this letter or email and tell them you will report them to the regulatory agency if they do not refund your money. If you are unsure where to begin, please contact us at firstname.lastname@example.org and we will assist you with this step as well.
Make sure to leave Northern Bits reviews on other websites.
If you really want to hurt them, you can also leave bad reviews on other sites and briefly describe what happened to other potential victims. If you’ve been scammed, please share your experience in the comments below. Also, if you receive a call from one of these businesses after they’ve switched websites, make a note of the new domain name in the comment section or get in touch with us so we can investigate. That would be greatly appreciated by us and families worldwide. Also, if you receive phone calls from other companies, please include their names in the comment or send them to us. We will also expose them.
Northern-Bits Review Summary
To write this Northern Bits review was a pleasure, and we do so with the intention of preventing as many people as possible from making a bad investment. It is recommended that, before making any kind of transaction with any Forex company, or any other company for that matter, you thoroughly research each and every one. We hope you found our Northern Bits review useful. Please email us at email@example.com if you have any questions or need help with the withdrawal process.