ElevoCas

Forex scam ElevoCas has positioned itself as a leading player moving to new heights. According to legend, it has been operating since 2017. Checking the domain made it clear: nothing like that. The launch took place at the end of 2023. Moreover, to deploy the site, an address registered in 2019 was used, which was on sale all the time.

The scam ElevoCas is allegedly run by a company registered in the UK. Moreover, it has licenses issued by regulators in South Africa, Cyprus, Belize and Australia. The check showed that they were all fake.

The ElevoCas website provided a list of types of markets. However, there is no complete list of financial assets with specifications. Instead, the scam offers to get acquainted with the volume of collateral. On the page dedicated to this, the sharashka showed its reserve in cryptocurrency and listed the organizations that are supposedly its liquidity providers.

All these tales have not passed the test. At a minimum, because real liquidity brokers do not cooperate with illegal dumpsters without documents.

In account types, the scam gives the leverage size. It is too broad for a eurozone broker. Other specifications can be found only after registering on the site. This is concrete proof of fraud. An honest broker has nothing to hide.

Part of the specifications is provided by a calculator. The financial instruments indicated there differ from those offered by the scammer “IlevoKas”. The names of the accounts are also different.

The ways to deposit and withdraw are a mystery. Honest reviews about ElevoCas warn: Sharashka’s office is trying to pump up a deposit in cryptocurrency. The reason is that Bitcoin and altcoins are very easy to scam.

ElevoCas carries out card transactions. You will have to find out about the commissions and terms of replenishment after registration. Here’s another reason to blacklist the catcher. Not a word about the withdrawal of a scam broker.

Terms of cooperation. How to make money with ElevoCas?

ElevoCas investments:

• in shares,
• indices,
• commodities,
• currency,
• metals,
• cryptocurrencies.

The fake broker’s website only provided types of financial assets. There is no complete list. Here is another proof of fraud.

Scam offers 3 accounts to choose from:

• Regular.
• Progressive.
• Expert.

To enter the market, you need to hold out $150, $5,000 and $25,000 respectively.

В Regular leverage up to 1:100. Attention: wide leverage is one of the top signs of a scam. He helps scammers lure and deceive.

Position execution is instant. This speaks louder than the most honest reviews that orders do not reach the real market.

Progressive has an even wider leverage – 1:500. Plus:

• Instant execution of positions.
• Access to metals and crypto. Attention: this is a blatant manipulation designed for people taking their first steps in trading. A pro understands: crypto trading does not require a scam intermediary or $5,000. It is enough to register on a cryptocurrency exchange and start with any comfortable amount.
• Depot insurance. A real broker does not insure deposits. Even in the most restrictive jurisdictions. The maximum you can count on is a compensation fund. Money comes from there not if the broker goes bankrupt, but if he cheats.

Expert has the same wide leverage as Progressive account. The following are added to all options of the last account for trading:

• Securing a deposit. What this means is unclear. Old clones of the IlevoKas scam were selling protection against minus deposits.
• Support 24/7. An honest broker offers 24/7 support 5 days a week to everyone who opens their “Personal Account”. They trade from Monday to Friday.

I forgot to tell you about swaps, margin calls, stop outs. There are no spreads on the website either. All that the trader knows about trading conditions is the minimum deposit of 0.01 lots and very wide leverage.

Registration, regulation, replenishment and withdrawal money from ElevoCas

Scam ElevoCas assures: it is managed by ElevoCas. Company registration address: 101 MILL RD, CAMBRIDGE CB1 2AS, GREAT BRITAIN. Rating Forex checked whether this is true or not in the UK register of legal entities. It doesn’t even smell like that shot.

To promote the “Personal Account”, the fake broker ElevoCas rustles about registration in Cyprus, Belize, South Africa, Australia. The check showed: nothing of the kind.

ElevoCas is not a registered swindler anywhere. Rating Forex cautions that such personnel cannot legally provide brokerage services. No liquidity provider will deal with him.

ElevoCas is also bad at security. If the dumpster throws money, it will be very difficult for the victim to bring her to justice. The scammers behind it could be hiding anywhere. There is an opinion: they are sitting on the territory of the Russian Federation or in one of the neighboring countries.

Regulation

The scammer whispers that he has a CySEC license. Number: 283/41. It is immediately clear that this is a scam.

Rating Forex reminds you: in the license number of the Cyprus financial regulator, the number after the slash corresponds to the year of issue. In the case of ElevoCas, this is 41. That is, 1941. Such an arrangement is simply impossible. CySEC appeared in the 2000s.

The dump is also flooding: it has licenses from the financial regulators of South Africa, Belize and Australia. Their registers have already been checked for registration. There is no such document. If so, there cannot be a license either.

But that doesn’t mean regulators haven’t heard about the ElevoCas dumpster. For example, the Russian Central Bank blacklisted this office on November 30, 2023. That is, a month after its launch.

If the scammer was blacklisted by the Central Bank of the Russian Federation. This proves: he specializes in divorcing Russians. The Russian regulator learns about such scams from complaints from deceived traders.

Not having a broker’s license is a death sentence. No one will force an illegal dumpster to withdraw money. The maximum that regulators are capable of is to publish a warning on the Internet not to contact a scammer.

Law enforcement agencies will throw up their hands. They will say that the scammer is hiding in another country. Rating Forex warns: even if the police catch the scammers, the beans may not be returned. They should be on seized accounts. But the scammers get away with it very quickly.

How to top up your account and withdraw money from ElevoCas

There is no information on the scam website about ways to replenish a deposit or withdraw capital. Nothing about terms and commissions either. From reviews of other projects of the same scammers behind IlevoKas, it is known: scammers prefer deposits in crypto. It is easy to steal and difficult to track.