Warning! Grassmoment.com is an offshore company! Your deposit may be at risk.
RECOMMENDED FOREX BROKERS
Grassmoment can easily be considered a very dangerous broker because it looks very good, and is very well designed. Of course, looks are all trivial stuff, but with shady brokers these are a conveyor of false information. So read the review to find out what the trading and payment conditions are, and what to look out for here.
We start off with a US registration claim, with no actual licensing claims to be seen anywhere. So, what we have is a statement that Grassmoment is a US broker without any actual licensing claims. There was even no reason to look for the broker in the NFA and CFTC database, because Grassmoment does not live up to the standards of these types of brokers.
There are no legal documents to speak of, only a one-page legal document consisting of one large paragraph.
So, not only has Grassmoment lied about its US-based registration, but it also offers no legal stepping grounds for users, meaning that there is a two-fold issue here. First of all, the broker is definitely not licensed, and the risky nature of it is exacerbated by the lack of legal documents.
Investing in unregulated brokers is the digital equivalent of throwing your money away for the wind to disperse it. It’s obvious that no one would do such a thing. Go with brokers that are regulated by trustworthy organizations like the FCA or CySEC. These entities work closely with the law, enforce it when called for, and have strict requirements for those under their gaze. Not to mention that those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).
We were able to register without any issues, but that did not seem to prepare us for what followed. In a very shady client portal, we were faced with the fact that, despite its cool design, Grassmoment does not have a trading platform.
Without a platform, there are no available trading assets or other conditions for trade. Clients cannot trade here, in the FX industry way, and are left to the mercy of investment packages, of which we shall learn more in the following section.
There is no trading software, and instead of including one, we are met with a bunch of third party charts that are completely useless, while the broker’s main attraction turned out to be the classic investment plans.
The third party charts are completely irrelevant to the firm’s case, while the investment packages are a common scammer maneuver.
Investment packages are the classic scam, that has been rampant since these things came about decades ago. The essence of investment packages follows the deposit-for-profits principle, in which a user is asked to invest a given amount, say $500, and told to await a ridiculous profit, in our case $7500 in just 24 hours. Obviously, this is a pure and shameful lie!
GRASSMOMENT MINIMUM DEPOSIT
The only way to invest is through a BTC wallet, where the minimum requirement is $, meaning that there is no requirement whatsoever. This is purposefully done, in that the lower the minimum deposit is the higher the chances of deposits get. However, the depositing area was very confusing in that there were additional payment methods once the BTC request was nearly issued. What our readers need to know is that the payment section in the portal is confusing. Just another reason not to trade with Grassmoment.com.
DON’T PROVIDE YOUR CREDIT CARD CVV CODE
The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.
DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER
Be sure to never give AnyDesk or TeamViewer access to your PC to unverified agents. These 2 platforms allow for your PC to be taken over by a second party, oftentimes for help or guidance, but in the case of these brokers for the sole purpose of looting your bank account(s) and personal information. However, in order to do so your consent is needed, and this is the only thing standing in the scammers’ way.
GRASSMOMENT WITHDRAW TIME AND FEES
Grassmoment withdrawals are said to be processed fast, and there are fees as follows: a €2 commissions plus a 2% fixed fee.
The minimum withdrawal amount is between €10 and €100000. Yes, that last one is not a typo, the broker actually expect users to be able to withdrawal that high a amount.
As for further details, there are none. The broker keep all further details to itself, which means that there might be other fees or further preconditions. Not that we expect clients to be able to withdraw in the first place.
Beware, once more, when giving away an ID and a proof of address. Trustworthy brokers ask for these before traders can deposit to make a check up. Deceitful ones will ask for these details, using the anti-money laundering legislation as pretext, once you start asking too many questions and are getting suspicious of their activities. Understand that they will use these to build a stronger case against you in the event that you request a chargeback.
Yet again we urge readers to stay away from this broker as it will, without a doubt, never return your funds and profits. If you wish to to get smooth and efficient transactions, please visit a FCA/CySEC regulated broker, where all withdrawals are handled with care and respect.
HOW TO RECOVER
The most sound advice we could give you is to immediately file for a chargeback with you credit card company.
If you have given away your credit card details including the CVV code to the “broker” you should cancel it ASAP and check with your bank to see the damage inflicted.
Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.
The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!
Grassmoment is a risk to all traders, and no matter how good it all seems it’s a scam more so than anything else! Do not invest here.