Loom Investment Review 2024 – Looming Investment Fraud

Despite Loom Investment’s claims of innovation and global client collaboration for maximum profitability, the business has proven to be a scam. Operating under the facade of a user-friendly investment platform, the financial swindlers engage in fraudulent activities. 

Their promises of unrealistic ROI (return on investment) results are deceptive, which is why you must read our Loom Investment Review. We hope to prevent our readers from falling victim to this unscrupulous scheme.

Legal Info: Is Loom Investment Regulated?

Upon reviewing Loom Investment’s alleged certificate of incorporation provided on the website, we detected a blatant and inadmissible discrepancy. Namely, the certificate is fake, i.e. belongs to an entirely different entity.

The registration number corresponds to Rock Insurance Services Limited, a non-life insurance firm orderly registered with the United Kingdom’s Financial Conduct Authority (FCA). Speaking of the FCA, the stern market watchdog issued a warning against Loom Investment on January 2 due to a violation of regulations.

Engaging with the firm carries significant risks and deprives the user of access to the Financial Ombudsman Service for complaints and protection from the Financial Services Compensation Scheme (FSCS), according to the FCA. In the event of the firm’s insolvency or losses under suspicious circumstances, you cannot on financial coverage from the FSCS. Therefore, it is crucial to exercise caution and explore more secure investment options.

Who Are Loom Investment’s Users?

According to godaddy.com/whois, the loominvestment.com website domain was created on April 20, 2021. Since then, the cyber con artist has been targeting primarily traders and investors who reside in the following countries:

• United Kingdom;
• United States;
• Canada;
• India;
• Turkiye.

All these countries have esteemed financial watchdogs that enforce heavy regulations and laws to prevent unauthorized imposters such as SvoFX from running their schemes and deceiving local investors. One common rule stipulates that each financial market participant must obtain a necessary permit.

The FCA, for instance, is unforgiving when it comes to exposing unlicensed fraudsters such as Loom Investment, and the aforementioned warning testifies to that. Should you experience any withdrawal-related issues, file a complaint with your local regulator and present your case or seek out professional assistance with the chargeback.

Trader Reviews – Sharing Experiences

We did not find any Loom Investment reviews on popular forums such as Trustpilot. As for the testimonials on the website, we believe they are fake given that there are no reference links to sources. For a company that claims such success, it sure fails to deliver any viable proof of actually helping users make profits.

Nevertheless, we recommend you always check what users say about a certain platform before you risk your money because negative reviews and complaints are indicative of scams. Thoroughly research the firm you are interested in to see whether it appears on regulator warning lists, as was the case here.

How the Investment Scheme Works

Investment scammers often employ various deceptive tactics to exploit unsuspecting individuals. One common approach is the Ponzi scheme model, where returns to earlier investors are paid using funds from newer investors, creating a false appearance of profitability. 

If you search through the bogus website, you will notice there is a Loom Investment affiliate program, which we suspect is a pyramid system fraud.

Cyber thieves entice victims with promises of unrealistically high returns, focusing on leveraging human greed to attract investments. Additionally, they promote non-existent or fake products, relying on misinformation and cunning marketing to create an illusion of legitimacy. Investors must be wary of such red flags to avoid falling prey to these illicit practices.

Loom Investment investment plans

As we mentioned earlier, digital dodgers promise extremely high returns in short periods. The plans look too good to be true because they are implausible. 

Nobody can guarantee you such a hefty ROI so fast. As soon as you read a promise like that, know you’re dealing with a dishonest firm. Although the Loom Investment minimum deposit seems fair, we advise you not to risk it as it is most likely a trap, just like WSDK Crypto was.

Deposit and Withdrawal Process

Investing in this platform means you will not be able to withdraw your funds given the trickster’s foul intentions. Since the payment details were not disclosed on the website, we offer a general overview of common payment methods and how to reverse transactions if suspicions arise.

If you deposited funds via MasterCard or VISA credit/debit cards, you can request a chargeback at the issuing bank within 540 days and reverse the transaction. Wires can be reversed via a recall but this action can only work for transactions yet to be completed.

In the end, we have cryptocurrencies. The reason why scammers prefer crypto payments is that they are extremely hard to trace and reverse, plus it allows them to remain anonymous and continue running their schemes.

Reversing crypto transactions is more complex and requires great effort and advanced software. You are going to need professional assistance though. Luckily, we have a team of experts that can help you recover your funds.

Key Facts To Consider About Loom Investment

Let’s conclude this review with a summary of the main points we outlined – Loom Investment is an investment scheme targeting users from the United States, the United Kingdom, Canada, India, and Turkiye. The website falsely claims the business was founded in the UK.

There is no relevant info about the shady firm online except for a warning against the sham website from the FCA. For that reason, we strongly advise you not to risk your money on the platform.

In case you have fallen victim to the Loom Investment scam and cannot withdraw your funds, please get in touch with us. We offer professional help to retrieve your funds! Use the form below to book your free consultation with Scam Brokers Reviews and tell us more about your case. Our team will gladly guide you through the fund recovery process and assist you every step of the way.

Book your free consultation here and start the chargeback process.

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