Do you receive calls from people claiming to be brokers from a brokerage firm and offer you huge bonuses and guaranteed profits? It’s a scam! Calling and psychologically pressurizing the customer into investing money with the scam firm is one of the tricks used by scam brokers commonly. If such a thing has happened to you or you have been scammed by Shift Holdings, read this full Shift Holdings review to know what to do next if you have been scammed.
Short Summary
Name: Shift Holdings
Address: Commonwealth of Dominica
Minimum Deposit: $250
Leverage: 1:400
Trading Platforms: Web
Owner: Share Oracle Ltd.
Demo Account: Not Disclosed
Blacklisted: FCA
Is it a scam?: Read on to find out!
REGULATION
What they claim:
On their website, the company claims to be based in the European Economic Area. However, the company also claims to be owned and operated by another firm by the name of Share Oracle Ltd.
What we found:
In reality, Shift Holdings is actually located in the Commonwealth of Dominica. For those of you who may not be aware, the Commonwealth of Dominica is yet another offshore zone. As offshore zones are known by the name because of the lack of regulation, these places are also known for the huge amount of scam brokers located here.
LEVERAGE
What they claim:
Just like every other brokerage firm, Shift Holdings proudly showcases the so claimed goodness of the company and states that they provide the best offers in the market which includes leverage.
What they found:
This is yet another lie that Shift Holdings proudly shows off as in reality the company offers leverage up to 1:400 which is a huge amount. The regulated brokerage firms only offer leverage up to 1:50. It is clear that Shift Holdings is up to no good by offering such large leverage.
BLACKLISTED
What they claim:
Shift Holdings claims to be a regulated brokerage firm and therefore, it will obviously not mention anything about blacklisting.
What we found:
Shift Holdings is blacklisted by one of the top-tier regulators around the world. The FCA or the Financial Conduct Authority released a warning against shift-holdings.com stating that the country is a potential scam and should be avoided by the citizens at any cost.
MINIMUM DEPOSIT
What they claim:
Shift Holdings claims to have a minimum deposit which is low and can be afforded by all of their customers.
What we found:
Shift Holdings demands a minimum deposit of $250 which is a huge amount as compared to the minimum deposit demanded by the regulated brokerage firms. The minimum deposit for the different account types ranges from $2000 to $50000.
Is it safe to trade with Shift Holdings?
No, Shift Holdings is not a safe broker to trade with. The company is unregulated and is located in an offshore zone. If this is not enough for you to be convinced, Shift Holdings is blacklisted by FCA. Therefore, Shift Holdings is a potential scam and we warn you not to trade with this brokerage firm.
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