Selfkings Review
Table Of Contents
| 🌐 Website | selfkings.com sellfkings.com |
| 🏠 Company | Xem Cloud Ltd |
| 📌 Address | Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960 |
| ☎️ Phone | +4578782186 |
| support@selfkings.com | |
| ⚖️ Regulation | Unregulated, Blacklisted, Offshore |
Selfkings Details
Selfkings is an online trading broker owned by Xem Cloud Ltd. The company is located at Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960.
To contact Selfkings, their support team can be reached via phone at +4578782186 or by email at support@selfkings.com.
Their website can be found at : selfkings.com sellfkings.com
It is essential to exercise caution and conduct deep research before engaging with any online trading platform, including Selfkings.
To help you make an educated decision, consider checking out our in-depth reviews of two other companies we have recently examined: AdmiralECN and MBInvest.
Traders Opinion
In all probability, there have been other traders who have already used the same service, and have expressed their opinions and feedback online on various forums.
Reading reviews from other traders who have experienced Selfkings firsthand is crucial in determining the broker's reliability. These reviews offer insights into the platform's functionality, customer service, and overall trading experience, allowing potential investors to make informed decisions.
How To Withdraw From Selfkings?
If your funds are stuck in your Selfkings account, you should try to reach out to them first and request a withdrawal by every possible means so that you have proof to show authorities later on if they refuse to process your withdrawal.
Unfortunately, Selfkings is not regulated or authorized to operate by any major regulatory authority, which means it will be a difficult process to withdraw from this company if they decide to ignore your request or suspend your account for trivial reasons.
If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means they are unregulated and should be avoided. Even if the brokerage is regulated, it is best to avoid it if the regulator happens to be outside your jurisdiction.
Read more about this topic in our dedicated article: Financial Regulation Authorities.
Is Selfkings Legit or a Scam?
When researching an online broker, the first and most important step should always be to find out if they have a regulatory license from a financial institution. This will tell you whether they are regulated by a central authority or if you are dealing with an offshore and/or unregulated investment company.
When a broker is unregulated or regulated by an entity outside of your jurisdiction, you have limited to no legal recourse in the event that your funds are compromised. In an event of theft, complaints can only be made if that broker is licensed by the regulator in your jurisdiction.
Some examples of regulatory authorities that issue brokerage licenses are:
- The Cyprus Securities and Exchange Commission (CySEC)
- The Financial Conduct Authority (FCA)
- The Australian Securities and Investments Commission (ASIC)
If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means that they are unregulated and should be avoided. Even if the brokerage is regulated, it is best to avoid it if the regulator happens to be outside your jurisdiction.
How Online Trading Scams Work?
One of the most prevalent online trading scams is to initially display profitable trades that give the investor a false sense of confidence, and get them hooked to the idea of ‘easy money’. Once this confidence is established, the investor will be marketed the idea of investing more money to earn greater returns. Additionally, other incentives may also be provided to encourage the investor to get their friends and family onboard the platform too.
Once the brokerage believes that they have extracted all available funds from an investor and his/her network, they will then proceed to suspend the account, and the investor will no longer be able to access the funds put in.
Many fraudulent firms will even claim to be domiciled in a regulated jurisdiction, and display fake regulatory licenses and addresses on their websites to try and improve their credibility with unsuspecting investors.
Be careful and verify your information through multiple sources. Constant vigilance should be applied at all times when trying to invest in trading platforms.
More info about trading scams:
Got Scammed by Selfkings?
If you have lost money with Selfkings, stay calm. It has likely happened to many others, and it its important to learn from these experiences. Do not forget that even the most cautious investors can fall victim to online fraud.
Chargeback Is Your Solution!
The good news is that there is help available. The team at MyChargeBack – a specialist group dedicated to helping consumers recover funds lost online – can help you for your chargeback process:
- 24/7 availability: Get help whenever you need it.
- Free consultation: Evaluate your case without any upfront costs.
- Quick processing: Expedite the recovery of your funds from Selfkings.
- High success rate: Boost your chances of successful fund recovery.
Relying on a reputable service like MyChargeBack is crucial when dealing with online scams, as the typical chargeback process can often be complicated and time-consuming without the proper guidance.
How To Get a Chargeback From Selfkings
Follow our straightforward guide to efficiently reclaim your lost funds from Selfkings with minimal hassle.
Complete the Form: Begin by completing the form above, providing necessary details about your case. This allows the team to understand your situation with Selfkings and prepare for the consultation.
Get A Free Consultation: Schedule a free consultation with MyChargeBack team of experts. During this consultation, they will assess your case and offer guidance on the best course of action to recover your lost funds from Selfkings.
In-Depth Case Analysis: As you proceed with MyChargeBack, their expert team conducts an in-depth analysis of your case, identifying the optimal chargeback strategy for fund recovery based on your unique circumstances.
Recovery Process: Their team of specialists scrutinizes your case, collects evidence, and negotiates with the involved parties to expedite the recovery of your funds. MyChargeBack team will consistently communicate with you and your bank or card issuer during the chargeback process.
FAQs
Is Selfkings a Legitimate Company to Trade With?
Unfortunately, Selfkings is not a trustworthy company to deal with, as they are not registered or regulated by any major regulatory authority, such as the Financial Conduct Authority (FCA).
What Are the Risks of Using Selfkings?
The risks involved in using unregulated companies like Selfkings include the inability to file a complaint with a credible regulatory authority in case of a dispute.
What Should I Do If I Have Been Scammed by Selfkings?
First and foremost, report the incident to your local authority department. If no resolution can be reached, there is still hope to recover your funds from Selfkings by attempting to open a chargeback case with your bank or credit card provider.
How Can I Get Help for Filing a Chargeback Case?
Since the process of filing a chargeback case can be relatively complex and time-consuming, we recommend seeking assistance from our partner, MyChargeBack, by completing the form provided on top of the page.
In the event of an exceptionally complex case they may require an upfront fee, as building your case will necessitate initial resources. Otherwise, if successful, MyChargeBack will be compensated by retaining a percentage of the recovered funds from Selfkings, typically around 20%.
How Can I Avoid Being Scammed Online?
To prevent falling victim to scams in the future, always ensure that you deal with legitimate companies that are fully regulated by major regulators, such as the FCA.
Ivan Aleksandrow says:
After a research in Internet for digital yuan, I landed to a link in youtube to selfking platoform. I registerred there with intention to just look around. Immediatelly, a bunch of people started to ring on my phone, convincing me they will help to my trade. They didn`t even listen to me, that I need an account for savings, not to trading. They explained me they will guide me thru the whole process. I just need to deposit $250. I didn`t want in the beginning, since I didn`t even have a chance to take a look, but they promised I will be able to withdraw my money at any time I want. So I decided to test it and put $250 into the platform. Then started looking for opinions in internet and found out it`s a scam. Tried to withdraw my money and they were in pending state since…forever. Meanwhile I got calls from Selfkings, trying to convince me my money are safe, but I explained, that “I have been adviced to test the withdraw before I make any big investments”. The guy asked me to give him access thru AnyDesk to my computer in order to help me with my withdraw. In contrary, he tried to initiate a new transaction, which I refused to pay and he played offended and stated “no money for you”. I just decided to abandon that money and drink some cold water. However, on the next day, that offended guy called me again (probably because I sent him an email, stating “Congrats, my friend, you just missed $5000”). In the call, I told him, that I have no intention to close my account, but to just check if withdraw will pass and if everything is good, I intent to deposit new $5000 and start trading. Seems he catch that beit. Within several minutes I received in my BTC wallet sum of $291. I immeditally respond him that “NOW you may close my account”.
So, here is the word of advise – stay away from Selfkings. If possible – stay away from so many platforms that are around. It`s better to pay some extra bucks in assured platform (Binance, Coinbase, eToro), than losing money in something like that.
Stay safe!