Investigating Groshare Limited: A Comprehensive Review
What won’t scam brokers say to attract clients’ funds? In our Groshare Limited review, we’ll discuss a company that promises complete trading security under regulatory oversight, exceptional trading conditions, and minimal costs. According to its official website, there’s no better platform for traders. But what happens when we dig deeper? We did — and here’s what we found.
General Info
Key Takeaways
- The company isn’t registered and uses the name of an actual firm for cover.
- The information on its homepage is misleading.
- The broker lacks any licenses, even offshore ones.
Every trader wants to work with an honest and reliable broker. To find one, it’s crucial to carefully analyze all available information, starting with the company’s official website. This was our first step in reviewing Groshare Limited.
Broker History
The official website of Groshare Limited offers no information about the company’s history. It seems the broker has decided that visitors don’t need to know the date of its founding, its achievements, or its plans. In doing so, it missed a straightforward way to bolster its reputation.
This approach is typical of fraudulent projects. While the absence of historical information doesn’t definitively prove illegal activities, it does significantly increase the likelihood.
From a design perspective, the broker’s website looks professional. The pages appear solid, with no unnecessary animations or images, and load quickly.
Unfortunately, the content is far less impressive. It seems as though the creation of the site’s content was assigned to individuals who lack basic knowledge of brokerage operations and traders’ needs. For example:
- Products section. Asset descriptions are limited to 1–2 sentences, and the “Spreads & Conditions” table lacks spreads or other parameters users expect to see in contract specifications. The leverage details are confusing — while the site advertises leverage up to 1:200, the table shows a maximum of 1:20 for Forex pairs.
- About us section. The company claims to be “Licensed and Regulated” but fails to mention the regulatory authority or provide details about its license, registration date, or location. These omissions may not matter to the project’s owners but are critical for potential clients.
- Homepage. The broker claims to offer 550+ trading instruments, while its account types table lists over 1,000. Though 1,000+ is technically more than 550+, traders would expect greater accuracy.
Similar issues are present across most pages of Groshare Limited’s website. A legitimate broker wouldn’t allow such careless treatment of its content. In any case, we’re convinced that this isn’t a licensed and regulated company.
Registration Process and Personal Account
Groshare Limited offers a simplified registration process requiring just a few fields:
- Full name.
- Email address and phone number (with country code selection).
- Country of residence.
- Password.
The broker doesn’t bother with extensive verification — just passing a reCAPTCHA and agreeing to its Terms & Conditions. Once the form is submitted, a new user gets immediate access to their account without any checks.
The personal account provides standard features for managing funds and trading. Expecting more from a template used by dozens of scam brokers would be naive. The available options include:
- Editing the profile (with personal details omitted during registration) and security settings.
- Uploading documents for verification.
- Depositing funds and submitting withdrawal requests.
- Viewing transaction and trading history.
Nothing original here. The broker hasn’t even implemented advanced security measures, such as 2FA.
However, during our review, several serious questions arose:
- Why doesn’t the broker conduct client surveys?
- On what basis does it require identity verification when its KYC policy isn’t listed among its documents?
- How can users monitor their participation in the affiliate program if no related features are provided? The company claims to have 700,000+ partners — what do they use?
Most importantly, how does the company guarantee data security for users (including payment information) when using its Help Desk?
Trading Platform
Groshare Limited doesn’t miss an opportunity to praise its trading terminal, boasting advanced analysis tools and order execution within 10 milliseconds. Naturally, we tested its performance.
The updated version of the web terminal by Easy Technologies (the broker’s choice) does look decent. It even includes one-click trading. Unfortunately, the platform still suffers from its main flaws:
- Users can’t customize the list of symbols to streamline searching for specific tickers.
- The number of charting tools remains limited (just 4).
- Custom scripts and personal indicators or trading bots aren’t supported.
Overall, the software remains inferior to leading platforms like MetaTrader or cTrader. This raises a valid question: why didn’t a “Licensed and Regulated” company acquire one of these platforms? Could it be that Groshare Limited doesn’t meet the requirements for their purchase, indicating that its operations are not entirely official or regulated?
Contacts
The list of Groshare Limited’s contact details turned out to be shorter than we expected. On the “Contact Us” page, the following are listed:
- A feedback form.
- An email address.
- A couple of phone numbers with Polish area codes.
- Office addresses in the United Kingdom and Poland.
Naturally, we became curious:
- Why hasn’t the company set up an online chat feature on its website?
- Is it really the case that office buildings in the UK don’t have access to landline phones? Or is it that the company doesn’t have the funds to rent an office with a phone line or purchase mobile numbers?
- Where are the links to social media channels? Has the company not bothered to allocate a staff member or some budget for creating and maintaining active groups and channels throughout its existence?
Of course, all these questions are rhetorical. From the perspective of scammers, such details — including social media — are completely unnecessary. Thus, there’s no point in spending time, effort, or money on them.
We explored the company’s official website and, even at this stage, concluded that we were dealing with a scam project. However, it’s still too early to jump to conclusions — let’s examine what the broker offers its clients.
Funding and Withdrawal
Groshare Limited claims to use a full range of popular and secure payment methods for deposits and withdrawals. Indeed, within the user account, we see that clients can use bank transfers, card payments, and cryptocurrency transactions.
There’s only one problem: regardless of the payment method selected, the transaction does not automatically complete. Evidently, you’ll need to contact customer support to finalize the process. The support team will then explain how to send the funds and provide the necessary payment details.
This is a clear tactic used by scammers who want to remain anonymous. Clients are typically given a cryptocurrency wallet address or the bank details of a private individual (a “drop”). Corporate accounts and cards are never shown — likely because the scammers don’t have them.
We anticipated detailed trading conditions on the broker’s website. However, Groshare Limited’s representatives managed to create the illusion of providing comprehensive information while, in reality, revealing very little.
Indeed, on the account types page, we see only the minimum deposit amounts for each account type, the lot sizes, and the bonus amounts expressed as percentages and in dollars.
Note! Users have noted the broker’s significant appetite. The minimum amount required to start trading is $2,500. Meanwhile, generous bonuses should not be expected: the company promises a bonus of $1,000 only to those with a balance of at least $50,000. A bonus rate of 2% is quite an audacious move that could immediately attract millions of new clients.
The table titled “Spreads & Conditions” in the Products section suggests that visitors will find all the details about trading terms there. But, as it turns out, that’s not the case. The only characteristic provided by the company’s representatives is the maximum leverage of 1:20 (peculiarly the same for all trading instruments). Spreads and other trading conditions apparently didn’t fit.
Moreover, even the leverage appears inconsistent. On the homepage and other pages, the maximum leverage is stated as 1:200; in the trading terminal, it’s 1:100; and in the table, it’s 1:20. It seems the broker would benefit from clarifying what exactly it offers its clients.
The broker also offers another type of account: the Savings Account. It’s designed for lazy traders who don’t want to trade but still wish to earn profits. And quite a profit it promises — between 9% and 18%. Fixed monthly payouts, secure investments, and insured deposits are also guaranteed. However, the broker fails to specify who acts as the guarantor or insurer of these deposits.
In short, it seems as though the company is doing its best to obscure its trading conditions from its clients. For a regulated and licensed broker, this is nonsensical. For scammers, however, it’s a great way to increase their profits.
Now, all that’s left is to conduct some final checks. We believe these will confirm our conclusions that this is indeed a scam broker. Let’s see.
Assessing Legitimacy
On the contact page, we find two office addresses — one in the UK and one in Poland. Presumably, this implies registration in these countries.
Since Polish support phone numbers are provided, we first checked the Polish commercial registry. Unfortunately, there’s no company named Groshare Limited in the registry. However, a perfect match was found in the UK’s Companies House database.
The firm was registered in 1962 and operates in the financial intermediation sector (SIC 64999). The company has been active for 62 years. According to aggregators, since at least 2014, its assets have remained unchanged at just over £44,000. We are confident that this amount is insufficient to organize proper trading operations.
Furthermore, Groshare Limited does not hold a valid license from the UK’s Financial Conduct Authority (FCA), which is mandatory for all brokers.
The conclusions are straightforward:
- The company is not registered anywhere but uses the name of a long-established, legitimate UK firm to conceal its operations. Its official website is all it truly has.
- The pseudo-company lacks licenses, meaning it provides brokerage services illegally.
- The broker does not have corporate accounts or cards. Hence, it refrains from disclosing payment details and does not allow transactions without the involvement of customer support.
Established Track Record
Groshare Limited does not provide any information about the company’s establishment date. Meanwhile, the firm whose name it uses for cover has existed for over 60 years. To expose the broker, independent data was required, which was obtained through the Whois service.
According to Whois, both domains, groshareltd.com and grosharelimited.com, were registered on November 27, 2024. This means the company has been in existence for no more than a month and a half. As a result, the broker’s story falls apart under scrutiny. Any claims hinting at the company’s history are unreliable. For example, mentions of 700,000 partners are outright fake.
Implications for Traders
In this Groshare Limited review, we’ve detailed a broker that exhibits all the signs of being a scam operation. It lacks registration, licenses are definitely absent, and deposit transactions cannot be completed without intervention from customer support. Furthermore, the fraudulent company uses the name of an existing UK firm, but its actual lifespan is no more than 1.5 months. Trusting such a company is highly inadvisable, as the risk of losing your funds is extremely high. We strongly recommend against sending money to this scam platform.
Strengths and Weaknesses
- Extremely simple registration process, which can be completed in under a minute.
- A wide selection of account plans, although they are quite expensive.
- The company is unregistered and uses the name of an existing UK firm to cover its operations.
- It lacks any licenses to provide brokerage services, not even offshore ones.
- The minimum deposit is extremely high — losing such an amount would be devastating for most traders.
- The website contains inaccurate information.
- Independent deposits are impossible to complete.
2 Reviews about Groshare Limited
I’m writing this so everyone knows that Groshare Ltd won’t let anyone earn or withdraw their money! These scammers will find a reason to accuse you of breaching the agreement, seize all your funds, and block your account.
These scammers at Groshare Limited couldn’t care less about their clients' needs — they’re only interested in filling their pockets with other people’s money. I and several acquaintances fell for their promises and collectively lost over $100,000 to these fraudsters. What’s most frustrating is that this company doesn’t actually exist, so neither regulators nor chargeback services can help us.
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