Hosspay.com has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to milestonefinance.co.uk. We’ve received over 4 complaints against Hosspay.com.
The Australian Securities and Investments Commission has warned that Hosspay.com is likely to be a scam because it is not properly regulated. Unlicensed investment services like Hosspay.com are very risky because they are not accountable or clear, and clients’ money could disappear. To avoid falling for scams, you should always check a company’s regulatory standing and license information. Because Hosspay.com doesn’t have a watchdog, people who are scammed have few options. This shows how important it is to do your research before spending.
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Key Takeaways
Is Hosspay.com Regulated? Do They Have a License?
Australian Securities and Investments Commission of Australia has issued a warning against Hosspay.com.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Hosspay.com is a scam and most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of Hosspay.com, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
Trading Conditions and Deposit/Withdrawal Methods at Hosspay.com
However, it’s worth noting that many scammers disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, the scammers actually stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
If you want to get your money back from a scammer, you’d need to file a chargeback.
Hosspay.com Customer Service: Do They Handle Complaints Well?
When it comes to scammers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, scammers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Scammers understand that in order to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, the customer support won’t resolve your issues and become increasingly unavailable.
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Hosspay.com Reviews: What Do Others Say?
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Scammers like Hosspay.com tend to purchase fake reviews for their online profiles to make themselves seem more credible.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust Hosspay.com reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews that are posted by temporary accounts (profiles which only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of Hosspay.com, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like Hosspay.com enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Hosspay.com reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Hosspay.com.
You should always look out for consumer complaints. In the case of Hosspay.com, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees and charges
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about Hosspay.com? You can share your complaint in the comment section or submit an anonymous tip.
Is Hosspay.com Legit Or Scam?
Hosspay.com is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind Hosspay.com can run away with your money without any prior notice. You should be extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust Hosspay.com?
All the evidence suggests that Hosspay.com is a scam. If you have lost money to them, there is still a chance you can get it back.
To recover your funds, you’d need to file a chargeback.
Frequently Asked Questions
Is Hosspay.com a scam?
Can I withdraw money from Hosspay.com?
Where is Hosspay.com Located?
How do I get my money back from Hosspay.com?
How The Hosspay.com Online Scam Works
Intelligence Commissioner investigates & reviews online money-making opportunities. We strive to provide critically helpful information to our readers and assist them in identifying scams. 
