5daystrade (5daystrade.online) is a Crypto scam which also doubles up as a CFDs online trading platform. Five Days Trade is another scam which claims to offer trading services five days a week. The platform is filled with over the moon claims and promises. Bonuses are another issue as most investors signed up after being signed a hefty bonus. Read this genuine 5DAYSTRADE Review and find out the scam tricks used.
Not much is known about this trading platform, apart from the huge complaints. A lot of investors have listed a number of complaints top of them being problems with withdrawals. None of the members we talked to has ever withdrawn funds from the website. And this was the main reason why we conducted our through review. These scam artists need to be exposed and their website shut down. To stay safe when trading digital currencies, it is best to use affordable Cryptocurrency trading robots.
Where the platform is based is anyone’s guess, there is no information on it. With such an anonymous trading platform, security of funds is an issue. The contact page does not give any details as to where their base of operation is. And this is concrete proof we are dealing with an anonymous platform. Anonymous platforms are indeed a problem as they are far from offering secure services. From our experience, offshore brokers are the ones who come up with anonymous platforms.
The platform deals with CFDs and Cryptocurrency. 5daystrade is failing to mention the number of company stocks used in their trading platform. And this poses a great danger to anyone who signs up. Users are signing up to an unknown platform which offers unknown trading conditions and services. Cryptocurrency products include Bitcoin, Etherium, Monero, among others. It would have been best if they posted details on the bonds and stocks involved. They only claim to have them.
Another problem we noticed is the high number of bonuses offered by the platform. In recent days, the industry has been hit with platforms which offer bonuses. These bonuses have been come with a guaranteed ROI. The industry is contemplating in banning any broker who offers a bonus. Scam artists are using bonuses to entice investors to deposit more funds. After depositing more funds, the broker will demand payback of bonuses before releasing funds. And this is what most members have been facing the entire time.
5daystrade is another platform whose domain is missing from all domain registers. Their domain is based on the online address which means it was recently created. Such websites never go long before being shut down. Scam artists use such domains to steal from unsuspecting investors. Tracing back the owners of the platform becomes a hard task. And this is why you should avoid using a platform with an unknown domain registry. 5 days Trade is another anonymous platform which is missing vital domain details.
Another missing feature is their license and registration details. 5daystrade is not furnishing traders with any license and registration details. And this makes it a hard nut to crack as it has no origin. Most regulators we contacted have never heard of the website. And this is proof we are dealing with an unregulated entity. Unregulated entities pose a huge threat to investors. With such platforms, security of funds is far from being guaranteed. And this is another good reason to stay away from it.
To try and confirm their license status, we reached out to various online regulators. They have not been found on most regulatory search registers. The regulators we contacted include ASIC, CNMV, CONSOB, CSSF, FCA, FINMA, NFA, and SEC. None of these regulatory bodies has ever heard of the platform. And this is proof 5daystrade IS NOT LICENSED OR REGISTERED to offer any trading services. Stay away from unlicensed entities as they fail to offer any meaningful services.
A closer look at their investment plans reveals that 5daystrade is indeed a scam. They offer four investment packages one which is a trial account. The other three listed include Base, Elementary, and Pro account types. They all come with a guaranteed ROI which is proof this is a scam. When it comes to trading, any platform that offers a guaranteed ROI is a scam. The market conditions don’t allow such features. Market prices tend to shift without giving traders any warning. Any guarantee is a hoax to get traders to sign up.
The platform claims to offer a live chat session which is false. 5daystrade is using a message board to act as a chat box. The problem with their message board is that they are using it to harvest data. Before being connected, one has to insert their email and phone number. And this is when you start receiving numerous emails and phone calls per day. They use the chat box to harvest personal data and sell it to third parties. It is best to use online brokers who use live chat services to investors.
When it comes to depositing funds, their main channel is Cryptocurrency. Traders use depository channels such as Bitcoin, Bitcoin Cash, Dash, Etherium, Litecoin, Payeer, and Perfect Money. The platform fails to include depository rules on their platform. As of publishing the article, no member has been able to withdraw funds with the platform. It makes 5daystrade another online scam which is stealing from Crypto enthusiast. Without withdrawing funds, this is another lame platform.
The platform claims to post payment proof to investors. A closer look at the payment page reveals the numbers don’t change. A week from today, the same list will appear. They did claim to pay via Bitcoin, why are they using the dollar as the amount. The payment proof should have links to the bitcoin link. With links, it makes it easier to confirm the payment proof via blockchain ledger. These scam artists are targeting unsuspecting online investors who don’t have a clue.
Another problem with 5daystrade is the claim of having a referral program. These scam artists are posting fake referral bonuses to attract clients. Stay away from their referral programs as once investigation starts, traders will be held responsible. Most will be slapped with charges of being an accomplice to online fraud. It is best to stay away from their referral programs. Plus, they have not paid any of their affiliate members.
The platform claims to offer Forex trading and still don’t give traders their terminal. We strongly believe they are using a custom made platform which is far from being secure. Without DDoS protection and SSL encryption, the platform is a hoax. These scam artists are the ones who knowingly put members at risk. Hackers will easily take over the platform as the website has no security software.
When it comes to the funds safety, this is out of the question. The platform is not segregating accounts which is a huge problem. Investors have been depositing funds straight to owner’s bank account. These scam artists are laughing all the way to the bank every time a deposit is made. And this is the reason why you should stay away from this bogus platform. 5daystrade is another scary Cryptocurrency trading platform to avoid.
With evidence as clear as day, 5daystrade is a scam which is waiting to pounce on investors. After receiving hundreds of complaints, we hope authorities will take over and shut down the website. Mark all their emails as spam and warn your family and friends from joining their affiliate programs.
By adding this platform to our scam blacklist, we will be protecting our readers.
Stay safe and use dependable and trustworthy brokers at all times.
We wish you a safe trading experience.
Valforex.com will not be liable for any damages incurred due to the usage of any information displayed on this website. The information and trading guides found on the website constitute the authors’ opinion only. Trading Forex, Binary options and Cryptocurrencies involve high-risk and are not suitable for all investors. Online trading in general, may not be legal in your jurisdiction. It’s visitors’ responsibility to make sure these entities are legal in their jurisdiction before engaging in trading activity. All trademarks, images and logos that appear on this site are copyrights of their respective owners and have been used under the Act of Fair Use.
0 Comments