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World Techno Trader is a Crypto currency brokerage inviting those who want to trade Crypto currencies to invest with their platform. The company claims that it is based in London and France. They are citing two addresses on their sales page. These addresses in question are Mansion House 33 Queen Street, EC4R1BR, London and 72 Faubourg Saint Honoré, 75008 Paris. These appear to be virtual addresses as opposed to real addresses.
The company World Techno Trader has also attracted the attention of the FCA for using the licensing number of another legit company. The licensing details in question are 726463 but this licensing number does not belong to World Techno Trader and there is no affiliation between the legit company and the Crypto currency broker who is the subject of this review.
These suspicious elements and red flags can’t be swept under the carpet. In fact, this review exposes World Techno Trader and confirms that it is a scam. If you want to invest with a professional broker, this is the last place to try finding a solution from. Explore these Forex trading brokerages to see what they have for you. They are legit and are all licensed. Some of them have recently started offering Crypto currency pairs for trading. It is better to sign up with those regulated brokerages than risk your money with World Techno Trader.
The website of this Crypto currency brokerage is not exactly pleasing to the eye. It feels cheap as it lacks quality aesthetics which are found in many other popular Crypto currency brokerage platforms. It’s like the owner quickly put it together to launch a business that would scam people. Scammers rarely have enough time to persuade us through well designed websites except when they are really determined and the outcome is worth it.
The World Techno Trader website lists some reasons as to why we should choose them. These reasons are generic and don’t build our trust on this Crypto currency brokerage at all. Some of those reasons include the ability to deposit and withdraw from this platform fast, excellent speed of trade execution, reliability and high quality trading platform, comfortable trading and excellent customer experience and support.
These reasons are quite vague as they do not tell us whether or not we should trust World Techno Trader. As a matter of fact, we cannot trust this platform because it is not regulated and they claim that they are regulated. If that was the case, they would have addressed the current warning that the FCA has issued the public. They would have addressed that matter quickly. But this is not the case simply because the brokerage is looking to cheat us. There is no secret that World Techno Trader is looking to scam traders based on their style of operation and lack of transparency.
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The platform has integrated a Tradingview chart on the homepage to show us that they are a brokerage. When you land on the homepage, you will immediately see that they are trying to masquerade as a legit Crypto currency brokerage. The homepage is also trying to encourage the rate of sign ups because that button is strategically placed and is readily visible to anyone surfing the website.
However, the site misses very important features. For instance, the site does not reveal their trading conditions, account types and leverage. Any serious broker will list these things on their site without fail because even before a trader can sign up, the first thing he will be looking at is whether the trading conditions like spreads and fees are fair.
In this case, World Techno Trader does not talk about spreads and fees, meaning that traders are not told upfront what it would cost them to sign up and trade with this platform. This is a red flag because there is no reason as to why a legit broker would skip these details on their platform and still expect traders to sign up. It does not look genuine.
Even the most careless scam out there will do its best to try and show the world that they are somewhat legit. But with this one, the writings are clear on the wall. You do not have to ask several questions in order to know that this is a scam.
The site has decided to publish a few testimonials on the homepage but these are fake because no legit website publishes these things to try boosting their credibility. If it’s legit, guess what? We will know it without seeing testimonials. Their professionalism should speak on their behalf. So this site is definitely intending to scam people by making use of fabricated testimonials and stories which are supposed to help them achieve credibility. You cannot risk your money on a site that does not want to tell you what their fees are and what type of spreads they have.
Definitely. This will not last. It will soon go under due to one reason or the other. World Techno Trader is a very new Crypto currency brokerage. They don’t have a reputation yet and even the most popular forums out there do not have details of this brokerage. That means a lot of people have not found out about them yet.
But this does not mean that we should give them a chance. After analyzing the platform carefully, we have no doubt that this brokerage is out to steal money from naive traders. If you have never seen how a Crypto currency brokerage looks like, you can fall for this nonsense. All the other experienced traders can never believe what World Techno Trader claims to be.
This is a very dangerous site. Their way of operation involves encouraging naive traders to make a deposit and once that is done, they can never withdraw their money from this platform. Stick to our usual recommendations.
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