Who Is Minerva Trading Bot?
Minerva Trading Bot was an online trading broker that was owned by CMC Invest and was based in Montenegro. This trader’s website has now been shut down. During its period of operation, this platform used an automated trading bot that worked using an algorithm and promised large-scale, consistent profits to its traders.
The Minerva Trading Bot review below explores whether this broker was a legit company or a scam and, if the latter is the case, then investigates the options available to those who have lost their funds to it.
Is Minerva Trading Bot a Licensed Broker
Minerva Trading Bot was not regulated and was not licensed to offer financial services in the territories in which it was active. Using a broker that has no regulation, or that is overseen by an offshore regulator that may not be as robust in its processes, puts your funds at high risk. This is because, firstly, brokers operating without regulation or license are exponentially more likely to be a scam organization than their regulated counterparts; secondly, there is no regulator to appeal to, and able to act on your behalf, in the event that the broker runs into trouble, or if you believe has scammed you out of your investment.
It is very important to make sure that any broker you’re considering trading with is properly licensed and regulated: if the broker is offshore, it may be regulated by a body that doesn’t have sufficiently stringent requirements, so check this carefully too. What is a disallowed practice in one country may be acceptable in another.
So, in answer to the question, is Minerva Trading Bot regulated? – the answer is no, it was illegally providing financial services, and money invested with this broker was at extremely high risk.
Is Minerva Trading Bot a Scam or Legit?
The fact that this broker’s website has now been shut down, and that it was operating without the necessary license and regulator in place is a major indicator that a Minerva Trading Bot scam was being perpetrated. A further red flag was the total lack of information on the website (when it was live) regarding the organization’s owners or parent company.
In all likelihood, Minerva Trading Bot was a standard Ponzi scheme: there is no verifiable evidence of any trading being undertaken by the company to bring in the capital; instead, the only funds coming into the company were those put in by new members – the fact that traders who signed up to the platform were awarded commission payments for any new members that they brought on board supports this and is typical of how a Ponzi scheme works.
And finally, the returns promised to traders by Minerva Trading Bot were spectacular: the website guaranteed that investors would generate a 240% profit after a year. Claims like this, that sound too good to be true are, in the vast majority of cases, just that.
Biggest Complaints Against Minerva Trading Bot
The main Minerva Trading Bot complaints come from past investors who feel that they have been scammed out of their funds, and a plethora of complaints claiming that the broker was running a Ponzi scheme and that investors found themselves unable to withdraw their funds from their trading accounts.
This is a classic characteristic of a Ponzi scheme: once any new investment has dried up, the company’s website will shut down (as has happened with Minerva Trading Bot) and the platform owners will disappear, taking all the remaining money in the pot with them.
Can I Get My Money Back From Minerva Trading Bot?
Yes, it is possible to secure a Minerva Trading Bot refund if you have been scammed by this broker. For the best chance of success, it is advisable to instruct a professional chargeback company; such organizations have the expertise, industry knowledge, and wide experience of past scams to be able to effectively fight the case on your behalf. You may choose, instead, to pursue the matter yourself, although this route is not as likely to be as successful, in terms of getting your Minerva Trading Bot money back.
How Does the Chargeback Process or Recovery process Work?
If you decide to use a chargeback company to pursue your scammed investment, then make contact with your chosen team; most have simple contact forms on their website. A team member will contact you to fully discuss your case; if it is deemed to have a high chance of being successful, it will be taken on by the chargeback company.
The team will assemble all the evidence necessary, and will then work tirelessly to track down your lost funds and confront the perpetrators of the scam. In most cases, a Minerva Trading Bot refund will be secured, and this will be deposited directly into your bank account.
If you have been the victim of a Minerva Trading Bot scam, then it is really important to make contact with a chargeback team; as well as fighting fiercely on your behalf to reclaim your money, the team will also support you through the entire process.
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