Torobase has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Absolute Markets. We’ve received over 5 complaints against Torobase.
Torobase, positioned in the offshore forex broker industry, entices with what appear to be extraordinary trading circumstances. However, closer examination exposes several red flags, most notably a complete absence of transparency and regulation, which undermines the appeal of its enormous leverage and cheap spreads. Unlike authorized brokers in recognized jurisdictions, which provide fund guarantees, segregated accounts, and negative balance protection, Torobase’s contempt for regulatory compliance puts investors at danger. The lack of a regulatory safety net heightens the risks of doing business with Torobase, making it a risky enterprise for investors.
Get Your Money Back From These Scammers!
Key Takeaways
Is Torobase Regulated? Do They Have a License?
Torobase makes its presence known in the offshore forex broker industry by offering trading conditions that appear to be out of the ordinary, thereby enticing prospective clients. Nonetheless, a comprehensive examination of its activities reveals a number of concerning indicators that foreshadow substantial hazards for investors.
The most significant of these issues is the glaring absence of transparency and regulation. The potential risks associated with depositing funds with an unlicensed entity substantially diminish the broker’s alluring offers of high leverage and low spreads.
Torobase does not offer the same level of security as reputable brokers that operate under stringent regulatory frameworks in jurisdictions such as the United Kingdom, European Union, Australian Australia, and the United States—including guarantees on funds, segregated accounts, and negative balance protection.
This fundamental disregard for regulatory compliance exposes the capital of investors to extreme risk, as no regulatory body provides a safety net; this underscores the dangers associated with doing business with Torobase.
The broker maintains anonymity by just supplying a single form of contact information. This opacity is a basic trademark of fraudulent operations, meant to avoid accountability and make it practically impossible for clients to seek redress in the event of a dispute or issue.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Torobase 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 Torobase, 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 Torobase
Torobase advertises an innovative trading platform but does not deliver on its promise. Attempts to register and verify accounts are fruitless, in stark contrast to the easy registration processes of reputable brokers that offer well-known platforms such as MetaTrader 4 and 5.
The broker’s boast of offering leverage of up to 3000:1 and spreads as low as 0.7 pips raises concerns about the viability and risk management of such trading conditions. High leverage, particularly from an unregulated broker, raises the chance of big losses.
Torobase only accepts cryptocurrencies as payment, which lack reversibility and anonymity by definition. This limitation not only limits investors’ alternatives, but also increases the possibility of untraceable financial transactions, which could lead to fraud.
The broker fails to clarify withdrawal procedures, fees, or minimum quantities, which is problematic. Transparency in these areas is critical for trust and trustworthiness, and the absence of such information is yet another red flag indicating a broker’s lack of integrity.
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.
Torobase 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.
If you have information on a scam or criminal operation, you can get access to 40+ investigative journalists & news outlets for free. Send us a detailed report here and if you qualify, we will forward your case ahead.
Torobase 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 Torobase 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 Torobase 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 Torobase, chances are, you wouldn’t find many legitimate reviews.
Another prominent way scammers like Torobase enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Torobase reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Torobase.
You should always look out for consumer complaints. In the case of Torobase, 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 Torobase? You can share your complaint in the comment section or submit an anonymous tip.
Is Torobase Legit Or Scam?
The analysis of Torobase’s operations uncovers a troubling landscape riddled with red flags: a lack of regulation, transparency difficulties, unrealistic trading circumstances, and restricted financial transaction methods.
Torobase should be avoided by investors who want to preserve their cash and trade in fair, transparent, and regulated settings. Choosing a broker requires careful consideration of regulatory compliance, transparency, and fund security—all of which Torobase falls far short.
Torobase 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 Torobase 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 Torobase?
All the evidence suggests that Torobase 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 Torobase a scam?
Can I withdraw money from Torobase?
Where is Torobase Located?
How do I get my money back from Torobase?
How The Torobase 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. 
