In this 7Online review, we will reveal some of the biggest reasons why we DO NOT ADVISE you to collaborate with the online trading and investing platform called 7Online. In case you are interested in this continuously growing industry, we strongly recommend you to keep looking for a more serious platform that will truly help you and not steal money from you.
All about 7Online
7Online is not a regulated broker and this becomes more apparent after taking a look at their official website. This is a huge problem and one that should make any trader think twice about working with them.
It also seems that they collaborate with various shady and weird websites that claim to offer some sort of trading software that is meant to help people. In fact, such sites are infamous for being complete and total scams. They will do nothing else than steal your investments and leave you empty-handed.
Being an unregulated online broker means putting your customers at great risk by exposing not only their personal and bank info but also their capital. Dangerous people or programs can easily access these details and cause big problems. This is a big no-no for us and should be for you too!
What about unregulated brokers?
Usually, these unregulated brokers will have a certain way of tricking people into getting their money and personal info. They will first persuade potential clients through phone calls or e-mails. The idea here is for them to make an initial deposit.
Also, they will offer certain deals and offers that seem extraordinary. This is a way to make people become their victims. Once the first deposit is made, traders will end up in a cycle of scammers that will try to get money out of you by offering even more deals and bizarre advantages. Never fall into this type of trap and get out if any small detail seems weird.
Can I withdraw my money easily from 7Online?
The first thing that a trader should do once they realize that this broker, or any broker, is a scam is to withdraw their money. Remember that your funds are never safe with such services and that you might never get anything back.
The problem is that 7Online will try to delay your withdrawal process as much as possible so that they can keep your money. Six months is all it takes for them to get it for good and you won’t be able to request a chargeback anymore after this period. Do not offer them written authorization to do whatever they want with your funds, in the form of a signature.
When they refuse to give you your money back, you can request a chargeback from your bank or card provider. Again, make sure to do this within six months. Keep all the documents and e-mails as proof that you were robbed by an online broker that is unregulated and a scam. Once multiple chargebacks are done, 7Online will no longer be allowed to collaborate with a payment service provider. This will hurt them the most, trust us.
In case you have done a wire transfer and they refuse to give your money back, you are in trouble. You cannot request a chargeback from a wire transfer and the only way to deal with this issue is to go to the authorities in your country. File a complaint and send it to them as proof. You can also contact various regulating agencies in their country and report them as an unregulated broker. The law will then take care of them.
Share your bad experience!
Finally, telling people about your bad experience with 7Online or any other such broker can prove very useful. You can do this by leaving honest reviews on various professional review-focused websites. You can also tell your real-life fellow traders what happened to you.
There is also a common strategy that these brokers use once they are revealed as scams. They change their websites and get in contact with old clients to convince them to fall victims once more. In case this happens to you too, do not hesitate to report them and let the world know who they are. In essence, they are the same people who tricked you the first time. Don’t let yourself be tricked again!
Helping people stay away from scam brokers like 7Online is our duty and we are proud to inform and help you in any way we can. We definitely DO NOT recommend 7Online as your trusted online trading broker. All they do is try as hard as possible to steal your money and personal information.
Be very careful when picking your online trading and investing broker. If you want to be successful and have a safe and secure career, choose a regulated and trustworthy broker. This way, your trading endeavors will soon become fruitful.