Glencore TS - Investigation for Fraud, Impersonation and Perjury – Fake Copyright Takedown Scam

February 22, 2022

               

Glencore TS / Glencore-TS.com Reviews



Glencore TS – Investigation for Fraud, Impersonation and Perjury – Fake Copyright Takedown Scam

Beneficiary of Fake DMCA:Glencore TS / Glencore-TS.com Reviews


Contact Info:Website : lencore-TS.com
Possible Infringements:Perjury, Impersonation, Identity-theft, Misrepresentation
DMCA Report:https://www.lumendatabase.org/notices/25514910
Original Link:https://theforexreview.com/2021/10/21/unicorn-forex-review

















Fake Link/Website Used:https://coreymccoy1.blogspot.com/2021/10/glencore-tscom-review-5-things-you.html








Submitted by:Corey McCoy
Date of Submission: 
October 21, 2021
Cue all manner of gaslighting, starting with a bunch of bogus DMCA takedown notices. I loosely keep track of DMCA takedowns filed to hide the scam done by this organization. Glencore TS really went to town with their efforts to hide the negative content on the internet.
Content Used In Fake DMCA By Glencore TS - 
"After waiting for some time, we realized that we would never receive the confirmation mail that the firm promised to deliver us, as part of the final step to creating an account. This is unfortunate because now we will have to trust this firm’s website for all the trading and payment details."

HERE’S OUR INVESTIGATION REPORT

SO WHAT WERE THEY TRYING TO HIDE ?

"Could anyone have guessed that Glencore-ts.com is a broker, or actually a website claiming to be an FX broker? Neither did we. We were actually surprised to discover this broker had some charm to it that was a result of the way the website was structured, and the means used to attract an audience. However, ultimately Glencore-ts.com fails to cover the one thing that it of great importance- the delivery of legit FX and CFDs trading services. The following review will uncover the true nature of the company. Please go through it carefully.


After waiting for some time, we realized that we would never receive the confirmation mail that the firm promised to deliver us, as part of the final step to creating an account. This is unfortunate because now we will have to trust this firm’s website for all the trading and payment details. As we have seen, the broker is not to be trusted, especially when it talks of the aforementioned conditions.


With that said, Glencore-ts.com claims to be offering forex currency pairs, shares, metals, energies, and indexes. The spread information is confusing; the firm has indicated that the minimum spread for the Standard account is 8 point. So is this 0.8 pips or a full-on 8 pips spread? It seems that not even the broker knows the answer. The leverage is capped at 1:100 for standard account users, and 1:1000 for VIP users.


The website of the broker is available to Russian, English, and Portuguese speakers.


GLENCORE-TS.COM REGULATION AND SAFETY OF FUNDS

The main thing that we have here is a supposed registration in Seychelles. Financial Services Authority Seychelles is the official regulator there, and for an offshore brokerage nation, Seychelles might just be one of the best. We have reviewed many legit brokers with branches there, so being regulated by the Financial Services Authority is a superb start. Unfortunately, Glencore-ts.com is not licnesed by the organization. Nothing is in support of this, and so if Glencore-ts.com is trully located in Seychelles, it means that it is offering its trading services without a license.


There is nothing here to be revealed about the legitimacy of the broker. Not only is it not licensed in Seychelles, but it is also not licensed anywhere, as there is no proof to suggest otherwise.


Glencore-ts.com is definitely an offshore broker and a risk to all. There even exists the chance that it is also a scam, making it that much riskier. Please do not invest in it.


Unregulated brokers are digital thieves. These entities will not return your funds and will continue to harass you! Best to avoid them. One way to do that is to check the site for a license. It should be easy to locate one, and if you don’t find it do not waste your time with the broker. We personally recommend any UK, EU, US, or Aussie-licensed broker. These are all legitimized by some of the best regulators and are constantly on the watch, never seizing or failing to follow the strict rules and guidelines. Moreover, the FCA and CySEC both offer compensation schemes that are there to reimburse users in case the broker becomes insolvent. The FCA guarantees up to £85 000, while CySEC guarantees up to €20 000 per person.


GLENCORE-TS.COM TRADING SOFTWARE

The broker offers a very simple web trader that we could access but seeing that we could not create an account, there was no reason to trust it with all of the trading conditions.




We also have a desktop trading software that clients can download from the website, however, we did not trust it and did not install it. Although it seems to be a somewhat proprietary software.


GLENCORE-TS.COM DEPOSIT/WITHDRAW METHODS AND FEES

The minimum deposit requirement as seen on the website is $100. According to the legal documents, the payment methods are bank transfer, credit cards, and debit cards. However, we have no way to know for sure whether these are the actual payment methods.


Withdrawal processing times are said to be no more than 5 days. Users whose withdrawal requests exceed the amount of their free margin will not be able to withdraw. There are fees indicated that have not been valued at anything, and the broker misleads users by stating that the fee structure is somewhere on the website. Overall, very suspicious withdrawal conditions.


But it makes sense since the company as a whole is a complete illicit package. Do not invest here!


HOW DOES THE SCAM WORK

One thing to always keep in mind is that the broker will always try to push the user to create an account. Through this process, the broker tries to take contact information about the user so that it can use it to directly contact the user.


Creating a liaison between user and broker is the first step, and a very important one. The perps will continuously be contacting the user and trying to convince him or her to invest, even the lowest amount. The trick here is that once an initial deposit is made, there is birthing of an artificial trust between the two parties that will serve the broker much more than the user.


Because the client has already invested once, he or she will be more motivated to do for a second time. The broker may bring in some false proof of profit while at the same time pushing for more investments. It’s a self-sustaining model of operation and is very effective. Many users will be compelled to deposit.


However, at some point these users will want to see more than proof of profit; they will require actual withdrawals. It’s at this stage the scammers reveal themselves as the fraudsters they are and will do everything in their power to cancel withdrawal requests. This includes but is not limited to staling requests, closing accounts, and even shutting entire websites.


WHAT TO DO WHEN SCAMMED

Credit card or debit card users will have to file for a chargeback. It’s the safest way to get your money back, although it is not guaranteed. Clients should call their credit/debit card companies. VISA and MasterCard have extended their cash-back period to 540 days.


Wire transfer frauds are harder to get by, yet there is still hope. First of all though, users should immediately change their bank account user names and passwords. And then, they should contact the bank to try to find a way to get reimbursed.


BTC investments are untraceable and are therefore lost. The only way to get your BTC, or crypto, investments back is if the scammers return it themselves.


Don’t pay these so-called recovery agents or agencies who promise users to get their money back using a number of questionable methods. These are pure scams of their own!"

Read More Investigations 

Here are some of the outcomes and changes we made possible with the help of several other citizen lawyers and agencies –

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