Ubstex is not to be trusted

By Aang, from Canada, July 10, 2021 at 06:59 AM

Starts with a romance scam, turns into investment scam where you make money it seems, but can’t withdraw it. Also you lose money when the person tricking you feels you aren’t going to invest more, you win when you’ve recently invested or when the person feels they need to build your trust.

Answer: Hi Aang,

Ubstex is a cryptocurrency broker that claims to be headquartered in the financial center of Singapore. It also claims to be regulated by the Singapore Monetary Authority. However, we didn’t find any mentions of this broker in the regulator’s register. It means that the broker is not authorised to perform financial services.

We have also found some reviews about negative experience of the Ubstex’s clients. They state that the company freeze their investments for no reason and all the taxes should be paid from an exterior source. Obviously, they keep asking for more money without allowing to withdraw it.

We do not recommend dealing with this broker and choose only well-regulated and reliable brokers. You can choose from the list of the Regulated brokers here. 

7 responses to “Ubstex is not to be trusted”

  1. Yes it is. When you lose money. You will transfer all the responsibilities to another person. Any investment has risks. But shirking responsibility I think is the biggest mistake.

  2. Sounds like Fxpipsbase. They all of a sudden declared that my account with 64k in earnings is dormant and I would need to cough up another 10k for them to restore the account. I guess I lost 6k…

  3. I see everyone’s performance is wonderful, please continue. You are both referral agents for each other, nothing more

  4. I saw that everyone’s performance was wonderful. Are recommending brokers to each other, nothing more

  5. They froze my account with $26000 after. I paid the tax for money I didn’t make, penalty and they keep asking me to pay another time the tax without making any transaction. When I refused, they froze my account.

  6. Please do not join the site for whatever reason. Its a huge scam. I was very cautious but still I lost all my money. I did a lot of search but the site wasnt listed here as a scam. I’m finally glad people can get noticed.
    If you are in, just silently find a way out

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