A bogus investment scam, Cryptoforexonline is purporting to offer financial independence. All you have to do is deposit with them and start seeing profit rising. Some investors have already deposited with the platform. The result is nearly all of them going home with nothing. Even the initial deposit amount was not to be seen. This is what’s happening within Crypto forex online, a bogus investment platform. Beware of their antics. Here’s the clear and detailed CRYPTOFOREXONLINE Review for more.
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According to the homepage, the platform was founded in 2010. Scam artists will do or say anything to try and buy a solid online reputation. Our investigation reveals the exact date the platform went live.
Crypto Forex Online claims to be a UK broker, and the FCA refutes it. We have strong evidence that shows why Cryptoforexonline is a scam. We will share all the details with you and open your eyes.
The homepage has a slide showing what looks like professional traders. With the picture looking odd, we noticed it had some similarities with other scams. During the binary trading scams, the picture was used on several platforms.
We believe the people behind this platform are seasoned scam artists. The website is owned by offshore scam artists trying to defraud European investors. We have to expose every trick they use and protect naïve investors.
Before we jump into their accounts, the platform makes a bold claim. With the basic account, the platform guarantees stable profit margins of 40 percent ROI. That’s the main selling point of this entire scheme. To make it look like you can get money by easily make a profit. The yields will materialize within 24 hours. Cryptoforexonline offers four investment packages, Basic, Standard, Premium, and Elite.
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The minimum deposit with the basic account is set at $620. On the account’s page, the platform also has a slide showing different investor’s trading. We have seen this type of customer push from scam websites.
They show only successful traders and huge depository amounts. What they fail to understand is that we have to conduct due diligence. We only have their side of the story; no user has come out with proof of actually profiting.
It came as a surprise when we learned the opening an account is free. There’s no charge which is odd considering they claim to offer financial freedom. You would expect the platform to monetize the account opening process.
There’s a reason behind offering the accounts for free. The platform is targeting all classes of investors. You don’t need any experience; just having funds is enough.
And that marks the beginning of the hectic journey members face with the platform. Those who choose the basic plan have the chance of withdrawing funds after a day. They are the first to experience first-hand the wrath of this platform.
The platform demands users to send verification documents for the release of funds. These documents include bank statements, a copy of your ID, and credit card information.
Once you send these documents, they email you claiming funds have been released. It’s not true as others get an email stating there’s an error. The platform states the error is in the receiver’s wallet.
These are excuses that give the platform reason to block you from accessing funds. They will move to the last phase of deleting your login credentials. This is what a majority of members are facing.
A thorough search shows the platform is hiding the identity of the people working for it. We don’t have the name of the actual people working here. The experts and traders seem to have no name. This is a tactic used to keep away prying eyes.
It ensures that tracking down these scam artists is nearly impossible. Investors are blindly depositing funds to an unknown platform. There’s no telling what they do with your funds or sending documents.
We have seen scathing comments on social media platforms regarding the platform. Crypto investment forums also expose the rot taking place behind this platform. We feel sorry for those who have already lost hope.
The only option they have is to inform authorities and hope proper action is taken. Hiring recovery agents won’t help as the owners transfer funds to an offshore bank account.
Cryptoforexonline is a scam waiting to pounce on naïve investors. They hold no valid license and have not undergone any compliance check. Authorities in the EU region plan to ban the use of this platform.
Completely shutting down the website is the only way to protect naïve investors. The entire page also fails to inform users of the license status.
The disclaimer at the footer of their homepage claims they are regulated under MiFID. These claims are false as they fail to produce documents to this effect. There are no copies of their license or registration certificates. The terms and conditions also show a worrying trend with crypto scams.
These terms have hidden information such as all liability falling to members. The platform has the authority to shut down your account at its will. These the terms users blindly agree upon when registering with Crypto forex online.
According to support, the platform prefers e-currencies as a mode of transaction. They also allow deposits with Perfect Money. This is for persons who don’t have e-wallets. There’s no need to deposit with crypto forex online.
At the end of the day, no one gets to withdraw yields. And this makes it a total online investment scam. Without withdrawing, investors are unknowingly funding anonymous persons.
123 is the number of days the platform has been active. The exact date this website went live was January 3, 2021. Their IP history shows a different story about their online presence. The platform has undergone 7 changes on its IP address for the past 3 years.
This means it’s a short-term website, and they might shut it down soon.
According to the about us page, the website is operated by PFO AD Limited.
The evidence clearly shows the safety of funds is out of the question. With no one withdrawing funds, it’s best to stay away from crypto forex online.
Cryptoforexonline is a scam waiting to defraud European investors. We hope our review will expose their tricks and save hundreds from losing money. The only safe way to invest in crypto is using expert-backed and recommended products.
By adding this platform to our blacklist, we hope to protect our ardent readers.
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Our team wishes you all the best in your crypto trading journey.
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