The internet holds countless opportunities for investors to grow their portfolio. But it also comes with scheming opportunists who will use any method to rip off these hardworking investors.
Online trading platforms are among the most common methods scammers use. They promise investors quick money with low risk involved and assure beginners that they do not need to be experts to become rich by trading. This is entirely deceptive.
In this Banner Peak review, we will look at the ways unsuspecting investors lose their hard-earned money on this automated trading platform. We will show you why you should not trust this broker. And the best part is that you will learn how to assess if a broker is honest or not.
If you have already lost your money, there is still hope for you. Schedule a free consultation with us.
Let’s get started.
A Major Red Flag: Banner Peak’s Regulation
Regulation should always be among the first things you look for in a broker. With a regulated broker, you have the assurance that the broker does not mix investors’ funds with its funds. And should the firm go bankrupt, your money is safe.
A regulated firm has a responsive customer support desk that readily resolves investors’ problems. It is also required by the regulatory body to carry out its trading operations honestly and with transparency.
Banner Peak is not regulated by any major body, such as CySEC, FCA, or ASIC. Without this regulation, nothing is holding it back from defrauding investors, as we will see in this candid Banner Peak review.
Banner Peak’s Pushy Account Managers
One major characteristic of scam brokers is pushy account managers. Once you show any kind of interest in trading, they will call you persistently and push you to invest more money with the promise of making more profits.
Some scam brokers go as far as asking investors to take up loans to invest with the broker. And sadly, they lose it all unfairly.
This is what Banner Peak does. They push you into investing as much as possible.
This customer gives a detailed description of what transpired between him and the broker. It starts out well with the hope of making a profit, but before you know it, you have lost your life’s savings.
How Banner Peak Delays Withdrawals
As swift as this broker is to get more money from traders, you would expect the same enthusiasm when traders make withdrawals. But that’s not the case.
A withdrawal request from Banner Peak is like trying to get water out of a stone. And trying to follow up on your money with the customer care team is a waste of time. It turns into a cat and mouse game that ends in frustration.
This customer’s testimonial is an indication of what you can expect from the scam broker. He tried following up for two weeks without getting any response.
What the Market Thinks About Banner Peak
The reviews we got about Banner Peak on Trustpilot, a review website that is trusted by consumers, is bad. To start with, its overall score is poor. All the reviewers rate the brand as bad.
These two investors call it a scam. One of them lost money that was intended for other important issues, after possibly being pressured by an account manager and getting false guarantees.
Hiding Behind Another Company – Another Reason Not to Trust Banner Peak
Banner Peak, being unregulated, and having scammed many investors, has been hiding behind Bitcoin Profit. Bitcoin Profit is a crypto trading platform that uses an automated trading system for different types of cryptocurrencies.
Most traders who find themselves on the Banner Peak website are often redirected to the website by this crypto trading platform.
Bitcoin Profit encourages unskilled crypto traders to trade with the platform’s robots. The robots do all the work. It claims that traders can make money even when the market is crashing, which is misleading.
Once you believe the well-crafted lies and sign up on the website, you are redirected to Banner Peak.
The fact that Banner Peak must use a third-party website to trick traders into the site just proves how committed it is to scam traders.
Banner Peak Website is Offline
The broker currently missing in action, we tried registering in on Bitcoin Profit, and it redirected to another scam broker, 24option.
24option is currently banned by the FCA from operating in the UK and suspended by CySEC for misleading its clients and not acting in their best interests. It shows the kind of brokers Bitcoin Profit partners with. It proves our suspicions about both Bitcoin Profit and Banner Peak being scam brokers.
Although Banner Peak is currently inactive, it does not mean investors are safe from its fraudulent ways. The people who built the brand are still out there, possibly strategizing a stronger comeback. They could come back under the same name or with a different brand.
What’s important is to learn how to spot the red flags. And do not give in to the pressure by the account managers to invest more than you intended.
Banner Peak Review Conclusion: What Now?
This candid Banner Peak review has made it clear that the broker is not to be trusted. It is a scam firm that is out to swindle investors. All its organizers need is your contact. And before you know it, the broker’s account managers will call you non-stop, trying to get you to invest your life’s savings. And if you fall into this trap, be sure that that you will never get your money back. The customer care team will ignore your attempts to contact them, and the account manager who was once your trusted adviser will become a cold stranger.
CFDs, cryptocurrencies, and forex are all risky investments. Anyone who assures you of making a profit is only trying to steal from you. And most brokers who offer you outrageous rewards to sign up are enticing you into a trap.
If you have lost your money to this scammer, we can help you fight for it. Take the first step and schedule a free consultation.