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SpireBit Review

Table Of Contents

Table Of Contents

SpireBit Logo
🌐 Website spirebit.com
🏠 Company SpireBit
📌 Address 29 Kangley Bridge Road, SE26 5BW, London, England
☎️ Phone +44(208)1571122 +1(917)6727536
📧 Email info@spirebit.com
⚖️ Regulation  Unregulated, Blacklisted, (Clone of FCA Authorised firm)

Introduction

While some online trading platforms have opened new investment avenues, they’ve also given rise to scams.

SpireBit, an alleged trading company, has garnered notable attention for exploiting this space with its fraudulent practices. This review delves deep into the various facets of SpireBit’s operations to unravel the intricacies of its scamming process.

To help you make educated decisions, consider checking out our in-depth reviews of two other companies we have recently examined: Tick TradeFx Limited and GlobalFinancialInvestment (GFI).

SpireBit Overview

SpireBit Details

SpireBit is an online trading company allegedly based in London, England, specifically at 29 Kangley Bridge Road, SE26 5BW.

They maintain an online presence through their website, spirebit.com.

For direct communication, they provide an email address, info@spirebit.com, and two phone numbers, +44(208)1571122 and +1(917)6727536.

SpireBit Account Packages

spirebit_account_types

Below are the different account packages offered by SpireBit to their customers.

  • Bronze Package – $500
    • Minimum investment period: 6 months
    • Consulting with an analyst
    • Trading leverage: 1:5
    • Trading signals
  • Silver Package – $5,000
    • Minimum investment period: 6 months
    • Consulting with an analyst: 1 consultation per week, up to 30 min
    • Trading leverage: 1:5
    • Trading signals: 1 per week
  • Gold Package – $25,000
    • Minimum investment period: 3 months
    • Consulting with an analyst: 2 consultations per week, up to 60 min
    • Trading leverage: 1:10
    • Trading signals: 3 per week
  • Islamic Package – $ Individually
    • No write-offs or accruals of interest payments
    • Consulting with an analyst
    • No hidden fees or re-quotes
    • No interest and swap fees on overnight trades
    • Hold time limit
    • No gap increase
    • One-time commission fees
  • Platinum Package – $100,000
    • Minimum investment period: 3 months
    • Consulting with an analyst: Personal support on an ongoing basis
    • Trading leverage: 1:33
    • Trading signals: 10 per week
  • VIP Package – $500,000
    • Minimum investment period: 3 months
    • Consulting with an analyst: Personal support 24/7
    • Trading leverage: 1:50
    • Trading signals: Unlimited signals
  • Diamond Package – $1,000,000
    • Minimum investment period: 1 month
    • Consulting with an analyst: Personal support 24/7
    • Trading leverage: 1:100
    • Trading signals: Unlimited signals

A Deceptive Facade

Impersonating a Legitimate Firm

One of the major red flags about SpireBit’s operation is its impersonation of a genuine, authorized firm, SBT INVESTMENTS LIMITED, regulated by the Financial Conduct Authority (FCA).

SpireBit falsely claims to be affiliated with this legitimate company, misleading users into thinking they are dealing with a FCA-licensed platform.

spirebit_fake_company

However, the FCA has clarified that there is no connection between the authorized firm and SpireBit.

spirebit_fca_warning

Russian Central Bank Warning

The Bank of Russia has also issued a warning against SpireBit, noting signs of illegal professional securities market activity.

This points to a significant lack of regulatory compliance in SpireBit’s operations, further underscoring its untrustworthiness.

spirebit_cbr_warning

Exploitative Business Practices

The fraudulent nature of SpireBit’s business practices is most evident in its interactions with its users. An in-depth look into the experiences of a victim of SpireBit’s scam provides revealing insights into its manipulative tactics.

The Scamming Process

  • Initial Contact: SpireBit reaches out to its users soon after they create an account on its platform, often through personalized communication to build trust.
  • Investment Manipulation: Users are initially encouraged to invest small amounts, which appear to double or even triple in a short period on their SpireBit dashboard. This illusion of high returns prompts users to invest larger sums of money.
  • Withdrawal Obstacles: When users attempt to withdraw their supposed earnings, they are presented with a range of hurdles. They may receive fabricated documents from reputable financial institutions, stating that they must send a certain percentage of their withdrawal request back to the company as a “security measure.”
  • Repeated Requests for More Funds: Users are continually asked to deposit more money for various bogus reasons, while the company continually promises to return the money back.

Deceptive Corporate Image

On further inspection, it becomes evident that the company’s so-called founders and executives are fictitious individuals, with stock image profile photos on LinkedIn.

Furthermore, SpireBit falsely claims to be associated with significant cryptocurrency institutions and the UK-based SBT Investments Limited, all of which have confirmed no affiliation with SpireBit.

Conclusion

By exploiting trust and manipulating communication, the company has effectively managed to scam numerous individuals.

Investors must exercise caution and conduct due diligence before investing in online platforms. Regulatory bodies’ warnings and victims’ experiences serve as stark reminders of the potential risks in the online investment landscape.

Got Scammed by SpireBit?

If you have lost money with SpireBit, 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.

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.

5 Simple Steps To Get A Chargeback From SpireBit

Follow our straightforward guide to efficiently reclaim your lost funds from SpireBit with minimal hassle.

  1. Complete the Form: Begin by completing the form above, providing necessary details about your case. This allows the team to understand your situation with SpireBit and prepare for the consultation.
  2. 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 SpireBit.
  3. 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.
  4. 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.
  5. Fee Payment: Upon successful recovery of your funds lost to SpireBit, MyChargeBack charges a fee as a percentage of the reclaimed amount. If fund recovery is unsuccessful, no fees apply, except in exceptionally complex cases.

Through these five straightforward steps, MyChargeBack simplifies the fund recovery process, enabling you to reclaim your money from SpireBit with minimal inconvenience.

FAQs

Is SpireBit a legitimate online trading platform?

No, SpireBit is not a legitimate online trading platform. It has been flagged by the Financial Conduct Authority (FCA) in the UK and the Bank of Russia for fraudulent activities.

Does SpireBit have a connection with SBT INVESTMENTS LIMITED?

No, SpireBit has no connection with SBT INVESTMENTS LIMITED. The false claim of affiliation is part of their fraudulent tactics.

What are some warning signs of SpireBit’s fraudulent activities?

Warning signs include impersonating a legitimate firm, lack of regulatory compliance, manipulative investment tactics, hurdles to withdraw funds, and false corporate affiliations.

What happens when a user tries to withdraw money from SpireBit?

When a user attempts to withdraw funds, they are typically presented with fabricated documents, asking them to send a percentage of their withdrawal request back as a “security measure.”

What should I do if I’ve been scammed by SpireBit?

If you’ve been scammed by SpireBit, report the incident to your local authorities and financial regulators immediately.

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  1. SpireBit scammed me on 5500$.

  2. Spirebit scammed me on $4000 dollars