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Olympic Forex Trade Review: Another Scam

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Olympic Forex Trade Review: Another Scam

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Olympic Forex Trade another Forex investment scam that will slowly choke your funds. Once you deposit with the platform, there’s no chance they will allow you to withdraw. It’s what has been happening to the first members who signed up. After reading one compelling email from a member, we decided to investigate further. What looks like a good investment option is nothing but a well-designed online scam. Get to learn what we found out in our OLYMPIC FOREX TRADE Review.

Olympic Forex Trade Review

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About Olympic Forex Trade

Once we landed on their about us page, we noticed that they lean on the crypto-mining scene. From their about us page, we learn that they associate with KalwaCoin. Whether this is true or not, it remains to be seen.

We haven’t heard of this coin or any company associated with it. According to them, making a profit is an easy process. You deposit funds, watch the profit grow, and request a payment.

If this were as easy as they make it to be, we would all be signing up with them. There’s a reason not to trust such false claims. We don’t know what they do with the funds and make a profit for members.

Nor unless they have a money minting plant, we have reasons to stay away from this platform. Olympic Forex Trade does not provide any meaningful information on how they double funds.

Account opening with OlympicForexTrade

Signing up with the platform is easy, and the entire process takes less than five minutes to complete. We do, however, have a problem with their verification process. A member has to send valuable documents to validate their account.

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We don’t see why they would ask for bank statements, a copy of ID, and credit card information. There’s a suggestion that they are harvesting banking credentials from members.

Affiliate program

There’s a referral commission of 15 percent for interested parties. Before you recommend anyone to their platform, get to know what happens. Promoting a platform that rips off investors puts you in the crosshairs of authorities and victims.

Some affiliate marketers have also claimed the platform does not pay commissions. It’s best to avoid this platform as it has a terrible online reputation.

Available services

It’s still not clear whether the platform covers all aspects of crypto and forex investment. There’s a possibility that this is a clone website. We did a closer check of what KalwaCoin is really about.

There’s proof that the website kalwacoin.com belongs to the same group as olympicforextrade.com. Both of these are scam websites that the same person runs. It’s best to avoid both.

Business holder

Pivostar UK Limited is a non-existent company that was dissolved on October 6, 2020. These scam artists are using the credentials of an already dissolved private limited company. Even the company number matches that one we found on Companies House UK.

It’s now clear that we are dealing with a ridiculous online forex investment platform. The people behind it will try their best to remain anonymous.

Comments and complaints from users

OlympicForexTrade Affiliate

As fate would have it, there have been growing complaints from members of OlympicForexTrade. The reason for the outburst is the lack of withdrawal. After depositing $6,000 with the platform, Mark is now ruing the decision.

He had high hopes of earning 20 percent profit in less than six hours. This was not the case, as he has been trying to withdraw funds all in vain. No one even attempts to respond to his emails or pick his calls.

Domain insights (olympicforextrade.com review)

We don’t have the exact date of when the website went live. What we do know is that the registrant’s name matches that one of kawlacoin.com. From the look of things, the IP address resides in Georgia, Atlanta.

None of the people behind it will openly reveal their names. That’s why investors need to stay away from anonymous investment platforms. There’s nothing good that ever comes out of anonymous crypto or forex platforms.

Hallmarks of Olympic Forex Trade

Available plans

Olympic Forex Trade offers members four plans that each come with a different ROI. The first plan has a minimum deposit of $1 and 20 percent ROI hourly for six hours. With the second plan, members deposit a minimum of $25 and 27 percent ROI for five hours.

Olympic Forex Trade Account Types

The third plan comes with a guaranteed ROI of 35 percent for four hours. Fourth plan comes with a guaranteed ROI of 55 percent hourly for three hours. The last two accounts come with a minimum deposit of $50 and $100, respectively.

Contact and support

There’s a live chat tab; if you’re lucky, you get to contact a live agent. It’s a bot claiming to be the company support center. We asked about depositing with the platform, and they only accept Bitcoin.

The email address you find on the homepage does not work. You only get an automatic response that they have received your request. There’s no need to engage with the platform as withdrawing funds is next to impossible.

Deposit and withdrawal

As the chatbot responded, they only accept Bitcoin. We pushed on and decided to ask whether we can transfer funds via wire transfer. The chat said they would send us an email with the bank credentials.

The bank information was sent using a different email supposedly belonging to the agent. Withdrawing funds remains to be the problem most users face. No one has managed to withdraw funds this entire year.

Is Olympic Forex Trade Licensed or Registered?

Olympic Forex Trade is not a legit platform and does not hold a valid license. Any document you see on their page is forged, making them a scam. Once you deposit funds with the platform, you will likely lose them when you send the button.

Regulators in the UK haven’t heard of this forex investment platform. We searched the Financial Conduct Authority and found no such platform.

Apart from using false documents, they also hide their true identity. This is an obvious scam targeting European investors. We suggest you stay away from them or risk becoming the next Mark.

Safety of funds with Olympic Forex Trade

olympicforextrade.com contacts

There’s no safety of funds, and the owners will rip you off. Despite claiming to have SSL protection, the website can easily fall for DDoS attacks. Segregation of accounts is not taking place, and users don’t enjoy any protection from regulators. Their terms and conditions also put all liability on members. It’s best to steer clear of such websites.

Scam or Legit Olympic Forex Trade

Olympic Forex Trade is a scam, and there’s no denying they use false credentials. The information on Company House UK says it all. These are corrupt investors who want to take advantage of unsuspecting investors.

Bottom line

Investors should look for other proven ways. We have to add this platform to our blacklist.

Make sure to use authentic forex trading robots. These robots offer users the much-needed advantage when trading.

We wish you all the best.

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