Tesler App Review: Stay Away From This Scam
Losing your investment to a forex broker is a frustrating experience. Unfortunately, the industry today is riddled with tons of unregulated and scam brokers. How does Telser App stack up? Read this in-depth Tesler App review before investing your money with this firm.
Have you lost money before trading with Tesler App? Do you want to recover the cash? Our experienced team of experts can help you get it back. Schedule a free consultation session with us today.
Here’s all you need to know about Tesler App.
An Honest Tesler App Review
Tesler App is an online trading platform that was established in 2016. The company claims that investors will make a profit from automated, simultaneous transactions on their platform.
The software specializes in crypto trading, which is made possible via a robot. According to the website, this automated trading system has 99% trading success, and customers can generate more than $5,700 within a day after making an initial investment of $250.
While these numbers appeal to new investors, how legitimate is this company? Let’s take a closer look.
Is Tesler App Legit?
To answer this question, we’ll look at the company’s activities, product offerings, and whether it’s regulated. Using this information, we’ll come up with a final verdict about the company’s legitimacy.
What is Tesler App?
The company deals in trading assets on the binary options market. Tesler App claims that its software is precise for maximum accuracy during trading. Steven Abrahams owns this auto trading software.
However, the company has no known location or phone number for clients to contact them. This anonymity raises a lot of questions about the legality of this company.
Is Tesler App Regulated?
Legitimate traders are regulated and authorized by renowned organizations such as the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), and the Cyprus Securities and Exchange Commission (CySEC).
However, in some cases, even brokerage firms that claim to be regulated by these bodies can turn out to be a scam.
In this case, Tesler App is not regulated. An unregulated broker is not authorized to operate in any country; therefore, you shouldn’t put your money into it.
In April 2021, the National Securities Market Commission in Spain issued a warning against Tesler App. According to the warning letter, the company is not authorized to provide investment services and foreign currency transactions in the country.
As an investor, it’s advisable to stay away from such unregulated companies.
Tesler App Scam Signals
Everything about Tesler screams SCAM! Let’s take a closer look at the red flags.
Tesler App ownership is quite suspicious. The company is associated with Steven Abrahams, who claims to be the CEO and principal funder. To entice investors, Stevens has made some introductory videos that indicate that you could earn at least $5,700 within a day if you trade with the company.
However, a closer look reveals that Stevens is actually not a CEO, but a paid actor who has worked with other scammers. He was previously pushing another investment firm known as Swarm Intelligence under the name Dr. Steven Francis.
This is a clear sign that this company doesn’t have legit ownership as it claims; therefore, it’s an avenue that could lose you money.
According to the company, investors could make more than $237 per hour. Furthermore, the firm claims that you make money from 100% risk-free binary trading with its software.
If you are a seasoned investor, you would know that all forms of trading have some form of risk involved. Therefore, the claim by this firm that the trading is risk-free is misleading. This is a scam to convince investors to commit their money.
Additionally, it’s not that easy to make that much profit in a day. This is a strategy to entice newbie investors who might not understand how trading works.
If you pay the initial minimum deposit of $250 or more, the chances are that you might lose all your investment to this fraudulent company.
Lack of Regulation
As an investor, you shouldn’t invest your money with an unregulated company. The firm doesn’t abide by any regulations; therefore, your funds are not protected in case the company goes bankrupt.
In addition, you can’t seek any reprieve from any regulatory body once you lose your cash. On top of this, Tesler App has received a warning for investors to stay away. To avoid losing your money, stay away from companies like Tesler App.
Multiple Negative Reviews
This scammer has tons of negative reviews on Trustpilot. With a rating of 1.8/5, this firm is not be trusted.
The top complaint from customers is the constant harassment and calls from the Tesler team. Most of the investors who signed up to the app experienced multiple phone calls in a day that they had to change their numbers.
The company staff members are also rude, and it’s impossible to contact them because they don’t have a working website or phone numbers to submit such complaints.
Once you sign up and send the initial minimum, the company contacts you day and night to convince you to deposit more.
If the company was legitimate, they wouldn’t need to harass their clients this way. If you are looking for an investment partner, Tesler App is not it.
Tesler App Review Verdict: It’s a Scam
Yes. Tesler App is a scam!
This company doesn’t have a legitimate owner, and there’s no contact information or location. In addition, the firm is unregulated; therefore, customer funds are not protected by any entity. This provides the best avenue to scam investors.
From the tons of customer reviews, it’s clear that the Tesler App team harasses its clients with calls to invest more with no returns.
If you have lost money trading with any scam forex broker, we can help you recover it. Trader Protection has years of experience helping traders recover their lost funds from rogue companies. Book a free consultation with our team today!