Shibamarkets 

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Rated 5 out of 5 stars

Shiba-Markets can be powerful tools for traders looking to automate their trading strategies and improve their performance! I'm very happy I gave up trading alone and joined the Shiba platform!

Rated 5 out of 5 stars

Everything goes great for me using Shiba Markets. The fees on trades are fair, withdrawals are smooth, and other services never brought any issues.

Rated 5 out of 5 stars

Team of managers supportive esp Sofia Soares had an excellent directives at day one until we together to view my account performance doing great thru her assistance to be at that site... See more

Rated 1 out of 5 stars

FALSE FALSE, they are as fake reviews what they say they don't do. I've completely blocked them even though my account is not even doing anything with a minus still in place. I refuse to answer their... See more

Company replied

Company details

  1. Alternative Financial Service

Written by the company

High Speed High Safety High Flexibility


Contact info

Companies on Trustpilot aren't allowed to offer incentives or pay to hide reviews. Reviews are the opinions of individual users and not of Trustpilot. Read more

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Rated 1 out of 5 stars

A total Scam

A total Scam – Fake Profits you will never be able to withdraw.

Contrary to what it says on their website and in their TOC, and what I was verbally told by my account managers, you can't withdraw your money. I was allowed to withdraw two very small amounts in the early days (around $600 and then $900) as 'practice withdrawals' where no fee was charged. I was then told going forward I should be able to take 5% of my profits on a monthly basis. I tried to request 5% of my profits in January and my request was denied.

In light of this I asked to close my account, however, they demanded I pay more money up-front (a 4% broker fee and 7% service fee) in order for my funds to be released. Strangely I had been told the 4% broker fee was built into their trades, so this also turns out not to be true.

They said these fees can't be deducted from my account and I have to send extra money in order to have my funds released. Yet, when we did the practice withdrawals there was no problem of money being deducted from my account and their TOC say money can be deducted. Given the size of the profits they claim to have made, the fees are extensive and unaffordable.

In addition, I have been told that accounts that do not trade for over one quarter are charged a 2% storage fee. This information I can't find anywhere on their website or in their TOC.

None of the above was communicated to me at the start of working with Shiba Markets, and in fact the information I had been given and what is on their website states the opposite.

My account manager said that their finance department is now handling my file, yet I have never heard from them. Not even to just have my initial invest returned, which I also requested.

The company is not registered in Australia, despite having a contact address here. Which I wish I had confirmed in advance.

From my further research into these kind of scams, it is likely that the platform is fake and projecting profits that don't exist and money invested has been redirected elsewhere.

Don't become excited by their promises and large profits because you will never actually get to see them. I wish I had done greater due diligence in the first place.

EDIT: The reply below makes no sense and doesn’t response to any issues I raised. I haven’t asked for any extenuating circumstances. I simply asked to withdraw money from my account and this was refused. Yet your website stays VERY clearly that withdrawals are possible and at no fee. Your TOC also clearly state that fees can be deduced from an account.
Still to this day no one from your finance department has been in contact with me, yet I have emails from my account manager saying they would be in touch. It is a scam company that will steal your money and direct it out of the wallet it has been transferred to. This has been confirmed to me by investigators.

January 8, 2024
Unprompted review
Shibamarkets logo

Reply from Shibamarkets

Dear Sarah,

We appreciate your review.

Shiba Markets seeks to provide clients with maximum satisfaction with our trading platform experience. Our terms and conditions create an equal-opportunity trading environment for everyone in the trading community. It has been determined that it would be unfair to our trading community to adjust our terms and conditions or waive the fees required by all our members to accommodate your personal extenuating circumstances. Your feedback is appreciated, reviewed, and taken into great consideration.

Thank you!
Regards, Support Team.

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Rated 5 out of 5 stars

Oliver Klein is such a sweetheart

Oliver Klein is such a sweetheart. Every conversation is purely human and you just feel that the person on the other end wants to help. I know that they do the first line of defence but I want to thank them for every time, for their effort and professionalism.

February 10, 2024

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