GoArbit Review 2024

GoArbit Review 2024

Updated:
Updated: December 28, 2023

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This brokerage company is on the Blacklist. Working with companies on the Blacklist carries high risks of losing your money. We continuously monitor the Internet in order to identify new scams aimed at defrauding traders, and categorically do not recommend working with companies on the Blacklist.

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Summary of GoArbit Trading Company

Goarbit provides an investment platform for digital currencies. The company deals in cryptocurrencies; users invest money in them and get paid a daily profit margin of 0.5% to 1.5% in return. The attractive return attracted many investors, who started investing in the company. Everything was going well until clients began to notice strange behaviors, particularly when they were withdrawing.
The absence of a Contact Us page and several other crucial sections, along with the concealment of their client's financial investments, give the impression of the website being a Ponzi scheme. Goarbit stated that it generates revenue through arbitrage trading and cryptocurrency mining but failed to disclose the price of its mining packages. It is unable to produce any documentation demonstrating that it has made any investments in either business.
They stopped operating as consumer complaints increased. So, all attempts to get in touch with the company have been met with failure. In September 2021, GoArbit's official Facebook page was taken down. Remarks posted on GoArbit's Facebook page imply that withdrawal issues started in September 2021. The unsettling client testimonials that detail the brokers' poor performance before their closure are included below.

User Satisfaction i

10 comments
Total score:
2.2 /10

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leonharvest
16 weeks ago

GoArbit, far from being a scam, has proven to be a complete disaster. I've been waiting for nearly two months now (since November 18, 2023) for a $90 withdrawal on platform 2.0. Even if the withdrawal eventually happens, they're only willing to send 50% of the withdrawn amount, citing issues in their software without providing any clear reason. Unfortunately, I've invested $600, and it appears I may either lose it or face a prolonged wait before any recovery is possible.

The person who introduced me to the company assured me they would resolve the problem, but instead, the issues have only worsened over the last 10 months. Despite raising three customer service tickets, I have not received a single response. To exacerbate matters, I purchased one of their mandatory Gold Club memberships, and it does not reflect accurately on the site. It seems the software problems are likely to persist on Platform 3.0.

If you're considering investing in this platform, I strongly advise against it. It would be wise to halt any plans and seek out more genuinely productive avenues for your money. I can honestly say that I wouldn't be in this situation if I had known better. Have a great day, and exercise caution with your investments.

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temir
17 weeks ago

With the excuse of maintenance, the platform was unavailable, October 7, but it was operational from Monday through Thursday, during which I was unable to withdraw. Although I made withdrawals on September 23 and 30, they did not appear in my external wallet. The reinvestment wallet was the only recipient. What is going on with GoArbit?

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Namme17
22 weeks ago

I have been attempting to contact them for several weeks, yet I haven't gotten a response. The money I sent to my wallet disappeared with no information regarding withdrawals or transfers, and it has been over a month with no trace of the funds. Despite my attempts, no one has addressed my concerns or provided guidance on what steps to take. It appears as though they are simply taking money without any resolution.

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mkarthik
32 weeks ago

A friend tried to persuade me to invest in this opportunity. Intrigued, I attended a virtual meeting and, being more experienced, I directly expressed my concerns, labeling it as a pyramid Ponzi scheme. Initially, my friend denied it, but she persisted in promoting GoArbit. Eventually, she admitted that it might indeed be a pyramid scheme, but she intended to continue promoting it until it inevitably collapsed. Despite the risks, she claimed the system was working for her, and she is currently enjoying time with her family in Dubai.

Participating in fraudulent schemes can be dangerous in Colombia, as there could be dire repercussions—like risking one's life for the cost of a meal and a bullet. The age-old saying holds: "If it's too good to be true, then it probably is." Even though it is clear that some people have made significant wealth using these kinds of systems, investing is risky by nature and depends on luck.

For me, this type of investment is excessively precarious. While some have made substantial profits, the unpredictable nature of when such systems might collapse is a significant concern. As my friend aptly noted, the key is not to have your money in it when it crashes, but the challenge lies in not knowing when that crash will occur. In summary, when it comes to this system or any similar ones, it's crucial to exercise caution—buyer beware. A cautionary reference to Bernie Madoff, the infamous figure in Ponzi schemes, further emphasizes the need for vigilance.

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pawansansanwal
36 weeks ago

I initially had a positive experience with them, requesting a giveaway to test their promises, and it was swiftly executed. Encouraged by the impressive growth, I continued adding to my balance. With regular and supportive phone calls, I decided to apply for the original share to allow the profits to accumulate and maximize growth. However, this marked the end of our relationship. Subsequently, there have been no calls, the support number is disconnected, and attempts to reach them have gone unanswered.

After several months of fruitless searching, I discovered a potential resolution by contacting JanTuffin at gmail.com, and indeed, everything was returned. I strongly advise against engaging with these individuals. Their actions reflect a lack of moral code and scruples. It is advisable to steer clear of this team or any associated entities.

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fadi002
41 weeks ago

The request for a refund of 9.2 K has been rejected by "GoArbit." The denial occurred even after depositing the same amount with the sole intention of meeting refund criteria. This was in anticipation of a substantial airdrop of over 500 million USD, which, unfortunately, failed to materialize.

For the past two weeks, "GoArbit" (with a high probability of experiencing identity theft) has been unable to adhere to its own refund policy. Refunds were not processed after reaching the standard code thresholds of 2 K, 5 K, and 7 K.

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zahid214
46 weeks ago

Dear GoArbit Management,

I hope this message finds you well. I have been a loyal follower and a small investor in GoArbit. With the recent development of the new GoArbit 0.3 system, I am encountering difficulties accessing my previous GoArbit system. Unfortunately, I am unable to deposit, withdraw, or transfer any funds.

It appears that the new system has brought about changes, and I am seeking guidance on navigating through it. As a dedicated user, I would appreciate your advice and assistance in understanding and adapting to the new system.

Thank you for your prompt attention to this matter. I look forward to your guidance and resolution.

Contacts

Registration address The broker was reachable via email at support@goarbit.com. Since the website is currently down, we are not aware of any other means of contact or their physical address.

We constantly monitor the Internet for the emergence of new fraudulent schemes to deceive traders. We have been collecting data about scam brokers for more than 10 years and we think we know every dishonest company in the market. Below we have collected for you the information about the scammers from the List of SCAM Brokers.

All information posted on the Traders Union website is based on reliable and objective data. We have combined our 10 years’ experience in the financial sector and the feedback of our customers to provide you with a true picture of the best forex companies in the market. Detailed information about our methodology.

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FAQs

Why has GoArbit been placed on the Forex Broker Blacklist?

Possible reasons:
• multiple complaints have been filed against GoArbit by traders claiming the broker failed to fulfil its obligations, including process withdrawals;
• the website of GoArbit is down, not updated or operates with clear errors and some features are not available;
• GoArbit has been blacklisted by the regulatory authority, and a warning has been published on the regulator’s website.

What should I do if GoArbit got blacklisted and I still have money in my account?

Don’t panic right away. First, try to find out the reason why GoArbit got blacklisted. The situation may be temporary. Contact Traders Union client service for details. If the situation is critical, try to withdraw money. The best way to do it in parts, so that the broker does not suspect that you want to withdraw your entire balance and close the account.

What should I do if I cannot withdraw my money from GoArbit?

If your broker refuses to process withdrawals under various pretexts, your algorithm of actions is as follows:
• Get a clear response from the broker’s Support Service with reference to the clauses of the Terms of Use (User Agreement). Save your correspondence and download the transaction history from your account.
• With a full package of documents, appeal to the following organizations: the broker’s regulator or corresponding law enforcement agencies. If you make your deposit with a bank transfer, try to initiate a chargeback request.
• Share your situation on traders’ forums, add the broker to blacklists of various websites, as it will help others avoid the mistake.

Is there any chance to recover my money if GoArbit is a scam?

On rare occasions, yes, for example, if the broker was a member of a compensation fund, or upon a court’s ruling.

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