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Here’s another crypto investment platform you need to avoid, CFDTrades. The platform has been swindling funds and funneling them to an offshore account. Members are in awe as the platform blatantly refuses access to their accounts. And this is just something else, and we believe that CFD Trades is another exit scam. Yes, the website cfdtrades.co will likely shut down soon. Here’s what we found out in our clear CFDTRADES REVIEW.
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There’s nothing to talk about regarding the platform’s background and history. CFDTrades is trying to hide these details from the members it claims to help. Such platforms eventually block withdrawals, as is the case.
Once you land on the homepage, the platform seems professional at first glance. We can see why naïve investors signed up with the platform. From the aesthetics, one would easily believe that this is a professional trading platform.
Even the current crypto prices are on display, making it believable. What most don’t know is that after signing up, that’s when all hell breaks loose. The platform is a complete sham and doesn’t offer any signs of transparency.
Hundreds of members have lodged complaints, and an investigation is underway. Several European regulators plan to issue a press release on the matter. We believe the platform will soon be on the warning list of all regulators.
And that makes investing with the platform a high-risk option. You need to stay away from such platforms or risk losing your investment. These platforms only benefit the owners and those working closely with them.
Users who claim to withdraw from the platform are an example of those who benefit. These are the foot soldiers who make others believe the platform is worthwhile. Far from it, these soldiers share the same spoils as the owner.
Before you invest in any trading platform, experts recommend doing due diligence. Try and find out what makes a platform tick. That’s the only way to guarantee safety when trading with unknown platforms.
Just as with any trading platform, there are some advantages and disadvantages of this platform. However, the advantages don’t come close to the many red flags we found. And that’s why we are here, to expose traps set by the platform.
For naïve investors, nothing seems wrong with the platform. You only start getting hurdles after signing up and requesting withdrawals. Before then, everything seems rosy, making the platform look perfect for trading.
In this cfdtrades.co review, we will help show you why the platform is a risk. These features make it impossible for a professional to sign up. With this exposure, we hope to protect the next investor from falling into the trap.
Here’s what to look out for in the CFD Trades platform;
There are four available accounts on the platform. These include Silver, Gold, Platinum, and VIP. Each of these plans offers investors a different set of features. We have to look at each account for more.
It’s the most basic account, with investors having to deposit a minimum of €5,000. Members get to trade with over 200 trading instruments, and leverage is 1:100. The only other feature is getting market reviews daily.
For the gold account holder, a minimum deposit of €10,000 is needed to start trading. Other additional features include bonus funds and a dedicated senior account manager. The platform promises financial and risk management planning.
You have to deposit €50,000 to get started. Leverage starts at 1:300, with members getting tier 2 trading room analysis. You also get level 2 private analysis and a chance to engage with the personal account manager.
It’s the most exclusive account of the four. Members get an invite for this tier. This account is set for institutional traders. The platform account sets leverage at 1:400, with members getting all additional features.
These accounts have one thing in common, a high minimum deposit amount. We recommend you deposit a minimum of €250 on any trading platform. Even on regulated platforms, it’s best to stick with the minimum. Why?
It helps curb the risk of losing money in the event of trades not going your way. The low deposit also ensures you don’t lose a large chunk of your investment, as is the case here. No member gets to withdraw even a penny from CFD Trades.
There’s nothing like an account senior manager with cfdtrades.co. Call agents are hired as part of the deal to lure investors to sign up. It makes you feel comfortable knowing that there’s a manager available for you.
The platform plays its part in trying to look professional. These account managers often call and claim to have a lucrative open position. The manager will insist that you deposit funds quickly to get into the limited slot.
Once you mistake sending funds, that’s the last you will hear from the manager. The platform covers it all up by replacing them with a different manager. And that’s how you lose another batch of your investment.
The platform offers a custom-built trading platform that’s nowhere close to stable. We recommend trading with stable platforms such as MT4 and MT5. The platform in question lacks value and fails to have the necessary tools.
No information is available as to who owns or runs CFD Trades. Despite listing the company address in Dublin, that’s not the case. The platform is completely anonymous and fails to protect investors.
You need to stay away from anonymous platforms as best as possible. There’s no way of recovering funds from such platforms. Where do you even begin? These platforms use anonymity to cover their tracks from recovery agents.
CFDTrades doesn’t enjoy any license or regulation from any authority. That indicates a platform that doesn’t follow the laid out legal framework. The results are a platform that introduces harsh trading conditions.
No regulator in Europe will stand for a platform that offers leverage above 1:100. It’s one of the tell-signs the platform completely ignores set rules. And that puts your trading position at risk.
Before you invest with any trading platform, check with regulators to confirm licensing. Some reliable regulators include ASIC, BaFIN, CFTC, CNMV, CONSOB, and CySEC. Others include FCA, FINMA, NFA, and the SEC.
Don’t expect any support from a platform failing to offer live chat. The platform insists that you send an email and wait for a response. That’s no way to handle traders as one would expect 24/7 support.
Your funds are nowhere safe with a platform that doesn’t have a license to operate. That means there’s no insurance cover for deposits made by investors. The platform doesn’t segregate funds as dictated by trading laws.
Please stay away from cfdtrades.co
PS: Check with reliable crypto investments that offer realistic returns.
Do feel free to leave a comment or email us with any queries.
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