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Premium Trade is one of those platforms that re-invent themselves within days. From premiumtrade.cc, the platform is now going with a different domain name. Premiumtrade.io is the most recent domain name of the same forex investment scam. If you look at both websites, you will notice a glaring similarity. They both use the same tagline, ‘Trade with Confidence.’ And that’s how we know both of the websites are owned by the same person. Learn more in our PREMIUM TRADE Review.
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They claim to be your ticket to financial freedom. ASIC is regulating one huge statement they make. Later on, we will expose why this statement doesn’t make sense. The platform boasts of 24-hour trading with no commissions.
When you look at the website’s aesthetics, it’s clear why the platform has members flock in. The platform looks real and even has an engaging user interface. And this is why most investors fall for investment traps.
As an investor, you should do due diligence before making any decisions. Make sure the platform you decide to invest in has quality services. Read reviews on it before committing funds to the platform.
If you don’t know whether to invest, you can reach out, and we would be glad to help. Premium Trade is a clone forex investment platform targeting naïve investors. If you aren’t careful, you too can fall for their other platforms.
There are five investment plans to choose from. These plans include Starter, Classic, Standard, Premium, and VIP. All these plans come with an expected ROI and a gift bonus.
It’s the most basic account, and investors have to deposit $350. The maximum possible deposit is set at $999.99 with an estimated $3,500 in returns. There’s a maximum return expectancy of $30,000 and a gift bonus of $100.
With the classic account, investors have to deposit $1,000 to get started. The maximum possible deposit is $1,999.99 with a $10,000 minimum return. Your average classic account holder is promised a maximum of $80,000 in returns and a gift bonus of $150.
To get started with the standard account, you must deposit $2,000. The maximum possible deposit is $4,999.99, with the minimum expected return quoted at $20,000. For maximum ROI, the account promises $100,000 and a gift bonus of $200.
You must deposit $5,000 with the premium account, and the maximum possible deposit at $9,999.99. There’s an expected minimum return of $50,000 and a maximum return of $150,000. You also get a gift bonus of $500.
It’s the most exclusive account and comes with a minimum deposit of $100,000 and a maximum of $200,000. The account quotes $100,000 as the minimum possible return and $200,000 as the maximum. There’s also a gift bonus of $1,000.
You will notice that each account comes with a bonus. Imagine losing your initial deposit after trading and invest more. When withdrawing funds for the first time, the platform demands you deposit the amount equivalent to the bonus.
Regulators in the forex industry are against the issuance of bonuses or gifts. It’s precise because of the above reasoning. Regulators don’t see why you should deposit more, and your account has the amount to offset the balance.
Premium Trade will gift you with a referral bonus if you channel users to their broker platform. The platform fails to mention the referral bonus amount or the commission for each referee. And there’s a problem to face as an affiliate member.
The platform does not release commissions to affiliate members. You will also end up facing the wrath of those who you directed to the platform. There’s no need to lose your reputation because of a cloned forex investment platform.
Their contact directs users to Texas, United States. We want to warn investors that this is a cloned website. And this means the address could be made up. The phone number could be a virtual phone number with a U.S address.
What’s missing from their information page is who owns and runs the platform. Investors are depositing funds to an unknown third party. And this could bring more problems as this is an anonymous website.
There’s no telling what these people do with the funds you send.
Despite claiming to be regulated by ASIC, this is not the case. The platform fails to produce any documents to prove their status.
The name of the registrant has been redacted for privacy reasons. You will also not find any known forex group associated with the platform. What we found weird was their IP location which was in the Netherlands.
You would expect a US forex investment platform to have their IP in the States. It’s not the case with PremiumTrade. It (the website) was created on March 9, 2021. The platform has been running for 102 days as we publish this post.
There are several deposit and withdrawal options listed on the platform. These include Advcash, Bitcoin, Ceph, MasterCard, Payeer, PayPal, and Perfect Money. We did notice the platform has an affiliate partnership with Perfect money.
And this is one of the ways the website gets money to run a smooth operation. The platform can direct members to the Perfect Money platform for a commission. Depositing is easy with all these platforms, and the process takes less than five minutes to complete.
Withdrawing funds with the platform remains the biggest hurdle facing members. None of the members have made any withdrawals since the platform’s inception. And this makes it a hard sale for us.
Despite having a testimonials page, the link seems broken as it leads users to the homepage. No matter what positive comment you read on most review sites, don’t believe them. Premium Trade is probably hiring keyboard masters to post these positive reviews.
You should not expect any support as the platform doesn’t offer live chat. On their contact page, you only get a message board. You are to leave your message and wait for a response. We tried the phone number several times, and no one picked it up.
A genuine forex investment platform should ensure all means of contact are available. As an investor, you should be able to reach out to the person holding your investment. It’s not the case with PremiumTrade for a reason.
Once they lock you out of your account, there’s no way of reaching out. And that’s their end game.
What looks like a genuine forex investment platform is in no way close to a safe option. Premium Trade is taking advantage of investors by refusing to allow withdrawals. Only a few get to withdraw, those who deposit low and withdraw low.
In our books, the platform does not deserve to offer these services. We hope authorities will act quickly and shut the platform down.
With the platform being a clone, we have to add premiumtrade.io to our blacklist.
The only safe way to invest is to join a reputable and tested investment platform.
We would love to hear your thoughts; leave a comment below or send us an email.
No, there's no withdrawal taking place, especially for those who deposit amounts exceeding $500.
The platform does not provide insurance cover for deposits made.
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