Grokebit

I have been trying to close my account with Grokebit for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.

Tried to withdraw my funds from Grokebit and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.

I gave Grokebit a fair chance. After for roughly four months of usage, I can say with confidence that there are far better options available. The interface is clunky, the fees are higher than competitors, and the customer support team seems overwhelmed or understaffed.

I referred a friend to Grokebit after a trusted YouTuber reviewed them. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.

The hidden fees at Grokebit are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.

This company appears on the IOSCO I-SCAN international warnings list. Over 68 financial regulators worldwide contribute to this database. While being listed doesn't automatically mean fraud, it's a significant red flag that potential investors should take seriously. Do your research thoroughly.

I lost a significant amount because Grokebit did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.

I want to warn everyone about Grokebit. They have been flagged by Financial Markets Authority as an unauthorized entity. I wish I had checked before investing. They use high-pressure sales tactics and fake testimonials. Once you send money, getting it back is nearly impossible.

The so-called education at Grokebit is just marketing. Every webinar ends with a push to deposit more. The market analysis is generic and often wrong. If you want real education go elsewhere. I wasted for about eight months thinking they would help me learn.

Several red flags with Grokebit: (1) They promise unrealistically high returns, (2) They're not registered with Financial Markets Authority, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.