Grassmoment – Are They a Scam?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
Grassmoment - DO NOT TRADE WITH THIS PROVIDER
2.4/10
$100
Minimum Depositupdated 2022
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://grassmoment.com
Founded: 2022
Regulations: None
Languages: English, All Google Translate Languages
Deposit Methods: Unspecified
Minimum Deposit: €500
Free Demo Account: No
Number of Assets: Unknown
Types of Assets: Digital Currencies
Trading Accounts and Conditions
Grassmoment does not offer their clients any types of trading accounts. Traders are offered investment plans:
- Gold Plan: The deposit range is from €5,000 to €15,000. You are guaranteed a minimum return of €55,000 and a maximum return of €170,000. You also get a €100 gift bonus.
- Silver Plan: The deposit range is from €1,000 to €3,000. You are guaranteed a minimum return of €13,000 and a maximum return of €35,000. You also get a €30 gift bonus.
- Diamond Plan: The deposit range is from €3BTC to €5BTC. You are guaranteed a minimum return of €10BTC and a maximum return of €15BTC. You also get a €500 gift bonus.
- Lovers Plan: The deposit range is from €500 to €1,500. You are guaranteed a minimum return of €7,500 and a maximum return of €15,000. You also get a €50 gift bonus.
- Future Plan: The deposit range is from €5BTC to €500BTC. You are guaranteed a minimum return of €75BTC and a maximum return of €900BTC. You also get a €2,500 gift bonus.
There is no mention of real trading conditions such as spreads, leverage ratios, execution orders etc.
Grassmoment – Advantages
There are no advantages to trading with Grassmoment.
Grassmoment – Disadvantages
Grassmoment is a scammer. Here are all the red flags that tell us exactly why:
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No Regulation
Grassmoment claims that they are a US-based forex and cryptocurrency trading platform. The broker provides a Texas, USA address. The broker also provides a cellphone number, but the area code shows that it belongs to the state of Georgia, and the broker states that you should only use WhatsApp to get in touch with them.
Here is the red flag: to operate in the US is not easy. The US forex and cryptocurrency market is one of the most stringently regulated markets in the world. You need to be regulated by not one but two different agencies before you will be allowed to run your brokerage from here. First, you have to be registered with the Commodities Futures Trading Commission. And then, you need to be a member of the National Futures Association. And the only way a broker can get their license from these two agencies is by meeting some really tough standard.
So, we checked the agencies’ online databases to see if Grassmoment was listed, and they were not.
Thus, we can conclude that this broker is running their operations illegally from the US, which makes them a scammer.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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No Trading Platform – Investment Plans Offered
A most important product that a broker offers their clients is their trading platform. So, most brokers get the best possible trading platform in the market to ensure that their customers have a positive trading experience.
Grassmoment does not even have a trading platform in place! In fact, there is no trading to be done with this so-called broker. Instead, you are offered investment plans, where you deposit money with this broker, and then they promise you massive returns in just a few days.
This, of course, tells us clearly that we are dealing with a scam! There is no broker on earth that can promise you such returns. The nature of the forex and crypto markets are such that losses are much more common than gains. And the kinds of gains that this broker promises are just plain ridiculous. The broker promises gains of as much as 900BTC on your investment. At the time of writing this review, 1BTC equals $23,096.06. Therefore, 900BTC is more than $20 million ($20,662,118.98, to be exact)! There is no way on earth that any broker could promise you such kinds of returns. These unrealistic promises are all lies perpetrated by a scammer in the hope of nabbing unwary novice traders into parting with their money.
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No Trading Conditions
It is only logical that since there is no trading platform, there would be no trading conditions. Having said that, the minimum deposit requirement of 500 Euros is much too much. Most legitimate and regulated brokers will invite you to open an account with them for less than $50!
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Wrong Links
There seems to be something wrong with the navigation on Grassmoment’s website too.
If you click on the Contact Us button, you are shown the Recent Deposit and Withdrawal chart on the broker’s home page. And if you click on the Our Services button, then you are taken to the Why Trade with Grassmoment section of their home page. If you click on the Investment tab, you get an error message that the page cannot be found. If you click on the Investment Plans link at the bottom of their home page, you get that very same error message.
This kind of sloppiness is what you would expect from a low-effort scammer.
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No Legal Documents
When you click on this broker’s Terms and Conditions link, you are taken to a page where there seems to be a legal document. However, if you read that so-called document carefully, you will see that it is just one really long paragraph of generalities.
A legal document is the contract between the broker and the trader, and it is a very detailed write up of all the services the broker offers, the costs you will have to bear to use those services, and the policies under with the broker operates and those under which you are expected to operate. You have none of these details here!
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No Payment Details
Grassmoment claims to offer multiple payment options – credit cards, wire transfers, cryptocurrencies. However, there are no payment details provided – there is no bank account number or crypto-wallet to which you can transfer funds.
Conclusion
Grassmoment is a sloppy scammer that is best avoided.
Grassmoment
Pros
- None
Cons
- No Regulation
- No Trading Platform – Investment Plans Offered
- No Trading Conditions
- Wrong Links
- No Legal Documents
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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