MindBit.io is nothing but the Next Miniscule Forex Scam being run by a group of small Forex Scammers. Here’s our Detailed analysis to prove to you that it is a Scam and how are you likely to lose all your money to them.
Let’s Start !!
Company & Regulation
Firstly, the Broker (The Company) is not REGISTERED / INCORPORATED.
This particular broker belongs to a Group of Indians based in New Delhi. There is NO REGULATION. (Highly Risky: Unsafe to Trade with them) .
This broker is nothing but a Grey label from MatchTrade.
We’ll Start with our Detailed Analysis right from the Hosting of the Website:
As you can clearly see that the website was registered on March 8, 2018.
There surely arises a question as to why the ‘.io ‘ domain has been used for this particular broker when the Company has nothing to do with British Indian Ocean Territory. The website shows that it is registered in Belize.
The Website is registered in the name of Abid Hussain who happens to be from Kota (a Small District in the Rajasthan State of India). The URL Provider / webdesigner – domainindustries.in also belongs to India and the main people promoting it all happen to be Indians and belonging to the same family.
(Any coincidences? I guess not!!!!)
Furthermore….DOMAIN INFORMATIONDomain: mindbit.ioRegistrar: GoDaddy.com, LLCRegistration Date:2018-02-15Expiration Date:2019-02-15Updated Date:2018-04-16The expiry itself is a 1-year game plan
Coming to the Homepage:
The website shows a NotSecure Certificate and is running a Free Chat Plugin from Zendesk. There are lots of foolish mistakes on the website done by gullibly by the inexperienced masterminds behind this Scam Broker.
There is no Co-relation between MindBit and HipsterLab. You will be seeing the Signature of the CEO of HipsterLab and a lot of other testimonials from it as the Theme used in the website is called Forex by HipsterLab.
HipsterLab is a Creative web development Company that creates Templates for Websites. Even the Testimonials listed on the website are to and for Team HipsterLab and they don’t have anything to do with MindBit.
The Experts posing on the Website with No Proper Description? What a Shame!!! Wanted to actually figure out whether it was a Forex Broker Website or a website for a web development company.
The Website is incomplete and has been using the credibility of the Web-template used.
The Spreads and Account Types:
EUR-USD at 0.6
USD-CHF at 0.9
EUR-GBP at 0.4
USD-JPY at 0.9
SILVER at 0.05
GOLD at 0.9
UK 100 at 0.8
USA 100 at 0.9
The Point to be Noted here :
MindBit uses an MT4 Platform that has been provided to them as a part of the grey label package purchased from MatchTrade.
Here’s the Highlight and the Best part of the Article: The Contact Us Page
Their Contact Us Page is a no-brainer!!!
- The address provided by them on their website is the Actual address belonging to the Very infamous Panama Papers, however, they’ve smartly tried to rephrase it, making it look like a real address. You can visit the following link to verify the same https://offshoreleaks.icij.org/nodes/14051427 or can google it. How can scammers be so unprofessional in their approach? And the surprising part is that they even fall for such scams.
- Since the Hosting belongs to Kota, India and Google maps’ auto-detect feature was able to keep a track of it. Quoting a fake and rephrased Address would have anyways not fetched a Genuine result.
- The Timings differ from the one stated on the homepage. You can see two major turnoffs on this page, The timings on the Top differ from the ones mentioned on the contact us page and the Location suddenly changes from Belize City to Washington DC.
- The Phone Number provided there was purchased online. Again a No Brainer. If you’d call them, the Number surely rings but there is no one to attend the calls as they don’t have the adequate staff to answer the Calls in Belizian or Chadish Accent. Surprisingly, the Number belongs to the Country called Chad and Not Belize where this broker is fictionally located.
- Going further we clearly see, how they’ve simply copy pasted everything from another Forex Website. We don’t pity the Brainchild behind this NoBrainer Scam but the People who fall for them again and again.
Coming to how exactly do they scam people:
The team behind MindBit or what in our view should be called “Dimwit”, purchases leaked out data from existing Indian Brokers like Fidelis, GIFX, AVFX, etc and few bunches of girls set baits by Sweet-talking with the Prospective Investors and Make them invest via unofficial investment channels like BTC, other CryptoCurrencies, Skrill, Collect Cash from people, take the investment in their personal bank accounts or tie up with a Third party agency for a share. The entire trading is run on a B Book basis that is FAKE ! The investors would be given profit on money rotation basis for few days and ultimately will be told that the trader has made a loss or the investor has made a loss (in case of self trading) by manipulating the accounts. Owing to their sugar-coated tongues, they will again gain the confidence of the same set of people and SCAM them again similarly by returning them a small share of say 20-30% of the investment to the investors in form of Money rotation and keep the major chunk of the investment with them.
SO PLEASE BEWARE PEOPLE. Choose your Broker / PAMM Service Providers Wisely. Know the people behind the company and their Background well. Don’t fall for the sweet sounding Scammers.
Our Rating and Review :
IT IS A SCAM RUN BY FEW GIRLS BASED IN NEW DELHI BACKED BY A NETWORK MARKETING LEADER.
Mind Bit Review (http://www.mindbit.io)
What we feel about this website is that it is just a 10$ Domain and 5$ hosting with 50$ backhand support and 350$ grey label service taken from Matchtrade (https://www.forexbrokerz.com/brokers/match-x-review)