Don’t send any money to Global Trader Insurance unless you want your money stolen! It appears that a new string of investment scams have surfaced in the form of insurance claim companies that promise you that they can retrieve your previously loss investment funds. These fraudulent insurance operations are known as “Advance-Fee Scams” where those of have been contacted must send a substantial sum of money before their previously lost funds can be retrieved via an escrow account. To learn more about Global Trader Insurance, make sure to keep reading our unbiased review!
Global Trader Insurance claims to be an asset recovery firm specialized in binary options. They are not a court-delegated claims administrator or class counsel but rather an asset recovery management company that is partnered with the overseeing authorities of the binary options industry. Basically meaning that they have no legal authority over of the claims they suggest they can refund back to you. Hosted at GlobalTraderInsurance.com, this site claims to be operated under a business known as Global Trader Insurance, Inc.
There in lies our first red flag associated with this fraudulent claims company. According to the Better Business Bureau (BBB) and UK Business Registrar site, no business known as “Global Trader Insurance, Inc.” exists. To add to the confusion the address found on the site is Carlton Court, Grainger Road, Southend-on-sea, Essex, SS2 5BZ, which is actually associated with an antique site.
Although we hate to admit it, the scumbags behind this scam were cunning and carefully thought out each step to their misleading claim company. It seems that for every requirement that investors had to fulfill with this fraudulent site that there was always a seemingly legitimate reason behind it. For those who are inexperienced to just how dangerous the online investment industry can truly be these steps appeared genuine when in reality they were raising all sorts of warnings and red flags.
Take for example the amount of approved claims and the recovered fund values that be found further down the site. To date Global Trader Insurance claims to have 15,616 files claimed with 9,002 of them being approved. What is perhaps even more impressive would be how they claim to have recovered $16,854,801 in loss funds. Combine this fabricated value with the fact that the site was only created on March 9th, 2017 and you have a truly unbelievable figure at hand. If any of these alleged values were authentic and genuine, you would think that GTI would be famous and positively endorsed all throughout the web.
According to an investor who shared his experience at binaryoptions.net, you must first open an account through Global Trader Insurance (GTI) where you will then be asked to fulfill a service fee for the services rendered. Among the deposit methods available would be Western Union, Moneygram or Perfect Money. Herein lies another red flag as to why you must deposit through these anonymous payment services. Secondly, GTI will ask that you provide your tax information and pay an additional “tax” fee before you can retrieve your funds via escrow account.
Essentially what is happening with advance fee scams like Global Trader Insurance would be that they are fraudulently trying to induce you to send money. Once you do they will make up elaborate excuses with each increasing request for more money until you refuse. It isn’t until you refuse to send any more money that these scam companies then severe all communication ties and disappear. This is the classic example of how a classic 419 advance fee scam operates and it is textbook to the operation practiced by the GTI scam.
When it comes to dealing with suspicious insurance claims company who claim to have retrieved your lost funds, you should ask yourself a series of 3 questions. First, why can’t this service just deduct the required payment fee from the retrieved funds? Secondly, does the site provide any information pertaining to the owners or company operating the service? Lastly, through research does the information provided on the site appear to be legitimate and factual?
For those of you whose research yields unsatisfactory results, always make sure to reach out to a reliable source for guidance and acquire a second opinion before you commit. If you come across any seemingly legitimate claim companies that you are unsure about, always feel free to contact us. Chances are that more likely than not they are just another investment related scheme that fits the bill as an advance fee scam.
Global Trader Insurance is a deceptive advance fee scam that should be avoided at all costs. If you have been contacted by this deceitful organization we are urging you to not to send any money, stop all forms of communication and reach out to local authorities. Embodying the persona of an insurance claim company that can allegedly retrieve previously loss investment funds is what makes this scam so dangerous. As we predicted in our Secured Trade Investment review, more fraudulent insurance claim companies are materializing into existence so exercise caution and only invest with proven investment services!
Review Verdict: Global Trader Insurance is a SCAM!