Welcome to the Spinta FX review.
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Spinta FX allegedly offers managed accounts for Forex and Bitcoin trading. They claim to provide the “smartest way to manage your trading account.”
Their website claims that the people who run SpintaFX.com are professional traders who minimize risks while obtaining “permanent positive results”.
In fact, according to the company’s marketing material, Spinta FX is making monthly returns of between 10% to 50% in Forex and up to 100% in Bitcoin trading.
Furthermore, SpintaFX claims that they’re using very advanced technology to trade the Forex market, thus guaranteeing 90% win rate in their trading.
Obviously these claims are quite aggressive and the average investor will definitely want proof of the same.
We’ve bumped into such companies before, claiming to be trading on behalf of their customers and making returns of up to 100%.
They usually turn out to be scams. Based on SpintaFx’s too good to be true promises, we believe that something is cooking behind the curtains.
Before you “invest” with this website, you should read this Spinta FX review because we’ve analyzed every aspect of this company’s website and can advice you accordingly.
Spinta FX review
The first information to seek is usually company background plus the people who work for the company or website in question.
Spintafx.com does not disclose the identities of the traders running its operations. In fact, the owner of the website has refused to disclose their identity.
So the question that we’re asking these guys is why hide?
In addition to this, Spinta FX claims that their Forex managed accounts are hosted at FXchoice broker, which is a very good broker by the way.
They require a minimum deposit of $5,000 in order to open a MAM account that will be traded by Spinta FX.
Since FXchoice is a regulated and reputable broker, we expect traders managing client funds at Spinta FX to produce their track record.
Spinta FX is charging 30% on their clients’ profits which is deducted every 2 weeks.
In addition to this, the company is claiming that their FX managed accounts can produce monthly returns of up to 50%.
We don’t know about you but for us, we’ve never seen a wealth manager producing 50% monthly returns on a consistent basis.
What we have seen is a bunch of wealth managers ruining the financial future of their clients because they are risking too much to chase bigger profits which never seem to turn into reality.
Spinta FX Bitcoin managed accounts
It’s quite apparent that something isn’t making sense here.
The website promises 100% returns in 30 days which is just out of the ordinary. We don’t believe any human or trading software can achieve this.
Additionally, if you look at how these investment packages operate, you’ll find that they work in a similar fashion to HYIP programs.
Before we get to this, let’s highlight the Bitcoin investment plans below.
[tabs][tab title=”50% monthly”]Minimum deposit: $10,000 to $50,000
Withdrawal in 30 days, principle included
[/tab] [tab title=”75% monthly”]Minimum deposit: $51,000 to $500,000
Withdrawal in 30 days, principle included
[/tab] [tab title=”100% monthly”]Minimum deposit: $500,001 to $1,000,000
Withdrawal in 30 days, principle included
[/tab][/tabs]
And you can send the various amounts to an individual Bitcoin wallet address stated as
“1FipjpL6s7cQkwa99vkVKYW9KT8z7ppfQL”
As you can see, this method of operation does not allow any form of transparency and secondly it is illegal to send funds into an individual’s bank account.
It all boils down to what regulations say concerning wealth managers and how they should run their business.
In the US, this is considered securities and a website like Spinta FX can be held liable for providing securities without a license from the SEC.
Currently we do not know the location of this company or website owners since this information is completely hidden.
On the same note, we’re concerned about the manner in which funds are channeled to the owners of this website.
When there’s a third party in between, there can be maximum transparency since the third party will be holding the funds.
But what happens when you send your funds directly to Spinta FX’s bank account? Chances of getting scammed will be like 100%.
Spinta FX review: High deposit requirement for Bitcoin managed accounts
For your information, this is not a real Bitcoin managed account since we are not sure whether those funds will be deposited in an online exchange under the owner’s name.
There is no disclosure whatsoever of who keeps the funds. If clients choose this route, they’re basically risking by putting their trust on Spinta FX.
This is a very risky endeavor to take considering that the minimum deposit is extremely high and unreasonable.
Trading performance
We expect Spinta FX to provide trading results for their Forex managed accounts.
If they don’t know how, they should just sign up at myfxbook and start tracking their trading results.
We believe this was intentionally ignored because Spinta FX is not a profitable investment operation, hence zero transparency.
They make money every time you deposit $5,000 to FX choice broker. Their profits don’t come from trading.
Conclusion
We recommend avoiding Spinta FX at all cost. This is not a true wealth manager and their method of operation is suspicious.
Thanks for reading this SpintaFX review. We’d like to hear your feedback regarding the same.
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