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PayTrade Review: Paytrade.io Abominable Forex Scam

PayTrade Review: Paytrade.io Abominable Forex Scam

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PayTrade (Paytrade.io) is a CFDs, Crypto Currency, and Forex broker scam waiting to pounce on newbie traders. Pay Trade is fraudulently using fake registration credentials to entice unsuspecting traders to sign up. Complaints have been sent by traders who lost big with this platform. Jürgen Olsson is one user who lost over $7,000 with this platform. And this is why we conducted a thorough investigation. Read this entire PayTrade Review.

PayTrade Review

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PayTrade Review:

Looking at their website, it’s clear why newbie traders are easily falling for this trap. These scammers have created a website which easily grabs attention. And this is what this broker is all about. Enticing as many users as they possibly can to deposit funds is what these scammers are after. With empty claims and promises, these scammers know inexperienced traders will sign up. Everyone wants to make a quick buck with and these scammers claim to provide an answer.

Very low trading fees, multiple trading platforms and real time asset trading are their core selling points. Anyone who reads this statement will want to try this platform, and deposit funds later. These are empty claims and promises used by scammers to entice newbie traders to sign up. Who can pass up a chance to win money, fast and quick? A research before signing up with a broker is needed before signing up. This review will shed light on tricks used by this scammer.

About PayTrade.

JPN Financial Consulting Limited is the company behind this rogue platform. Claiming to be based in the UK, this company does not exist. A look at the registrar of companies reveals there’s no company registered under this name. Worse still, the FCA has issued a stern warning regarding PayTrade review. On their Official FCA website, PayTrade is a clone platform targeting UK residents. This makes Pay Trade a certified Forex platform scam.

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Why has this platform hid behind their website and fail to give information regarding ownership? No one knows the actual people running this website. And this makes it a disturbing platform as it’s clouded by anonymity. A broker who fails to give information regarding founders of the platform is a scam. How can we trust a broker we don’t know with hard earned money?  Stay away from this cloned brokerage platform.

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Is PayTrade Licensed to Conduct Forex Trading?

PayTrade Broker Review

The FCA plainly reveals this is a ruthless platform targeting UK citizens. Make sure to stay away from this broker whose identity remains anonymous. This means PayTrade is not licensed to conduct any Forex transaction of any kind. Whoever signs up with this platform is bound to lose funds. An unlicensed broker is a dangerous platform to sign up with. Stay away from Pay Trade platform.

To add salt to injury, this platform does not post any registration certificates or documents. What they have done is post a random number as their licensing number. SC508521 is a random number not recognized by FCA or registrar of companies. As we always say in all our reviews, scammers will do or say anything to gain recognition. PayTrade is no different.

Multiple Trading Platforms.

PayTrade is using MT4 and MT5 trading platforms as their preferred tools of trade. Sadly, these platforms are not working effectively. In order to test how well these platforms worked, we decided to download them on our devices. These platforms could not complete download mainly on mobile and tablet devices. Could this be an indicator of what to expect with their trading experience? Sadly, this platform will leave users vulnerable to attacks, stay clear of it.

Hackers have been taking advantage of unstable platforms by stealing personal data. In most cases, these hackers have been taking credit card details and identity details. Hackers purchase goods and services and pay them using stolen credit cards. These scammers are not only out for your money, but also bank details. Make sure to stay away from anonymous brokers with unstable platforms.

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Account Types.

PayTrade is using four different account types used to entice all kinds of investors. These account types are named Discovery, Silver, Gold, and VIP. Minimum allowed deposit with these accounts starts at $500, $10,000, $50,000, and $150,000.  These accounts have the same perks making us question the broker’s intention. There are more hidden details regarding these accounts.

Why has this broker offered accounts which are similar in nature? This seems PayTrade is scamming investors with fake accounts. Why would any investor deposit $150,000 and get the same features with a member who deposits $10,000? This broker did not think it though when creating these accounts. And this is why signing up with this platform is a big problem. Stay away from any platform whose intention is to scam users. PAYTRADE is a scam.

Are Funds Secured with PayTrade?

PayTrade Forex Review

No broker can safely secure funds with such high anonymity and fake credentials. Expecting funds to be safe with Pay Trade is expecting Santa during summer. This is a crude broker whose intention is to steal funds from users. Why has this platform failed to mention how they handle funds sent by users? Where do they bank money deposited by traders? And is it possible users are depositing funds straight to owner’s personal bank account?

This broker has broken some of the set rules such as segregation of accounts. What this means is this broker is pooling funds in one account. In case of bankruptcy or insolvency, this broker will lose all funds. And this is why signing up with this platform is problematic and should be ignored. A broker who does not properly secure funds is most likely a fraud. They want users to deposit funds and later shut down without giving users a notice.

Funding Channels.

Depositing funds with this broker is easy and fast. This broker has made sure users deposit funds with ease. Depository channels used include MasterCard, Maestro, Visa, and Skrill. This is not a valid reason to sign up. Problem with Pay Trade is withdrawing funds, this is not possible. This broker does not allow any member to withdraw funds. And this is where we draw the line with this platform. Make sure to stay away from such brokers.

Is PayTrade a Scam?

With evidence we gathered, it’s clear this is a certified Forex scam. Make sure to stay away from any broker who is offers trading services anonymously. Mark all their emails as Spam and never click on any links sent by their email marketing team. Warn your family and friends from signing up with any of their affiliate programs.

PayTrade Verdict.

PayTrade Scam Review

Adding this platform to our list of shame will hopefully prompt authorities to sign up. Authorities have the option of arresting and shutting down this platform. Stay away from any broker who has the same characteristic as Pay Trade. Ignore calls from their call agents to sign up as they are most likely, trying to harvest data.

Industry recommended skilled Forex brokers will offer a safe haven for all traders. Newbie traders should seek professionals who have a ton of trading experience. Bona fide and trusted Forex brokers will produce desired results and keep investors safe. Stay ahead of the game by partnering with accepted Forex brokers at all times.

Lastly, we wish you all the best in your Forex trading experience.

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36 Replies to “PayTrade Review: Paytrade.io Abominable Forex Scam”

  1. Bonjour,
    Je suis en contact avec une conseillère de JPN Consulting basée en écosse, elle a mis mon argent sur la plateforme Paytrade, elle a son téléphone et adresse mail paytrade . Comment faire pour récupérer mon argent ?

    1. Je suis sur paytrade.io mon contacte ce nomme pierre verront,il ce trouve en Irlande et depuis le 22 janvier 2019, j ai déjà retirer 200€ à plusieurs reprises, sans difficulté, mon dépôt à était effectuer par.virement bancaire, par le biais de la goldin bank, qui ce situt à Paris

        1. Oui toutes les semaines,et paytrade à changé de nom, car il ce sont fait voler leur identité, maintenant sais mon ego, et je retire régulièrement des fond

      1. J’ai fait la demande, mes fonds sont indiqués comme retirés, mais ne sont jamais arrivés sur mon compte en banque…
        Mon “conseiller” est en congés…

  2. Bonsoir j’ai aussi investi chez paytrade et depuis fin juin plus de site la personne avec qui je correspondait s’appelle Olivier Legrand dont j’ai une copie de ci comment faire pour récupérer mon argent
    Merci a ceux qui peuvent m’aider

      1. Oui maintenant ils sont moneyo.io
        09.71.08.23.22 Mme Payet
        Mr Legrand olivier 09.75.18.26.12 l’escroc qui m’a volé.

  3. paytrade est devenu moneyo.io
    Mr Legrand qui m’a volé 09.71.08.23.22
    et Mme Payet une voleuse aussi 09.75.18.26.12
    ils sont en vacances je pense, ils ne répondent point. Il faudrait les appeler en inconnu.

      1. Bonjour,
        Mon conseiller, Olivier Legrand est en congés jusqu’au 26 août.
        J’attends toujours le retour d’une partie de mes fonds.

        1. Bonjour, moi le mien c’est Pierre Vergnot, pareil plus de réponse de sa part depuis le 08 août, et comme je ne sais pas si il est en congé, je suis à l’étranger jusqu’au 18 septembre, et lui le sais.

  4. Bonsoir, Le miens se nommer Hugues Debreuil et à gentillement bloquer mon compte ainsi que de toute la lignée de parrainé et ce depuis le 15 Aout. L’argent n’ai jamais arrivé alors que l’odre de transfert daté du 26 juin dernier.

  5. J’ai aussi eu affaire à PayTrade et Moneyo, j’ai été en contact avec Mr Legrand Jeudi 10 septembre mais, c’est numéro n’existe plus depuis, et mon Compte Moneyo serait a priori bloqué…

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