CryptoFx Trades is the trading name of a UK incorporated company called CryptoFX Trades Inc.
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The company is selling its investment services from the domain cryptofxtrades.io but we don’t trust it, so we find it difficult to include it in this page where we’ve talked about asset managers to work with in 2020.
This website is offering 3 “investment plans” dubbed Special Bond (10% daily), Blue bond (20% daily) and Premium Bond (50% daily).
The minimum investment that cryptofxtrades.io is asking for is $100.
They allegedly collect funds from members of the public with the intention of investing the money in various companies in exchange for a stake in the business.
From the surface, this looks like a legitimate company with a solid investment approach.
However, due to our experience with HYIPs and ponzi schemes, we have decided to investigate CryptoFx Trades because we don’t believe everything they say.
First of all, the owners of CryptoFx Trades are anonymous. The vendor can’t answer the reason as to why their company executives are 100% anonymous.
Looking at the details of the domain cryptofxtrades.io, we find that it was registered a couple of months old. It is barely a year old.
So for them to give us promises of how they’ll generate daily returns to their clients, we need to see the seriousness in their presentation.
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This seriousness is lacking, and this is the first red flag anyway.
CryptoFx Trades review
The website is quite simple as it is built with a few sections that highlight reasons why we should invest with the company.
There is also a section labeled “dividend calculator”.
This is where we let our imaginations run wild since we can input any imaginary figure to calculate what investment return we will earn daily.
We tried the calculator using a figure like $500. The calculator returned a profit of $50 daily which means we would earn $1500 in 30 days.
At this point, Crypto FX Trades begins to feel too good to be true.
Always trust your instincts when you begin to ask yourself how a deposit of $500 can be multiplied three times in a span of 1 month.
It is technically not possible. And this is definitely not trading. So what is it?
CryptoFx Trades is a scam!
Before we concluded that this website is a scam, we considered various factors like ownership details and investment operations.
The first red flag is that the company’s executives are 100% anonymous. This should never be the case if they are truly a serious investment company.
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Secondly, buying shares of other companies does not guarantee any returns but CryptoFxTrades is actually guaranteeing daily, weekly and monthly returns.
So how is it possible that the company will pay “profits” even when an investment project has failed?
Thirdly, we ask ourselves why CryptoFx Trades is reluctant to show us their track record.
If they have been doing this well investing in shares of other companies, it should be very easy to produce their track record.
This leaves us wondering why there is no proof that CryptoFx Trades is actually purchasing shares of other companies and earning dividends which they share with their customers.
Finally, cryptofxtrades.io does not say anything about their regulatory obligations.
It’s clear that this company is offering a financial service. So where is their license from the financial regulator in their jurisdiction?
You cannot “invest” with a scam. You can only lose money and that’s what cryptofxtrades.io wants you to do.
With zero proof of investment in the said companies, the surest thing that can happen is that victims will eventually lose their money.
It is as simple as that. So stay away from this scam.