TradingForexPay is a new website (21 days old) claiming to offer an investment opportunity in Forex, Binary options and Cryptocurrency.
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With zero track record of successful trading, we already disqualify TradingForexPay and opt to recommend this Crypto portfolio management service instead.
TradingForexPay.com does not disclose who owns or runs the business.
In fact, the owner or company owners are 100% anonymous. They even attempted to hide their who.is details such as date of registration and other particulars.
TradingForexPay is also claiming that it is run by a “team of professional traders” whose mission is to provide investors with “daily and constant profit”.
In addition to this, the company claims they’ve won multiple awards from various industry-recognized organizations.
We find that TradingForexPay is a bit suspicious because they operate in a way that suggests they’re a scam.
This review will provide all the red flags to watch out for when presented with an “opportunity” like this.
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The website has listed a few “advantages” which investors will get when they join the service.
The points listed therein are generic in nature.
They don’t go into the specifics of the service and why we should use them to invest in Forex, Binary options and Crypto.
TradingForexPay is also proclaiming to have won multiple awards even from companies that do not issue any awards.
For instance, they claim that MasterForex-V awarded them for being “the best binary options brokers in 2014”.
Yet we know that MasterForex-V is a trading education website. They don’t offer any awards.
Furthermore, TradingForexPay was not in business in 2014. So this is definitely a big fat lie.
This applies to other awards listed on the website as well. They are all false and unverifiable.
There’s no way TradingForexPay can win awards when they’ve existed for a couple of weeks only.
How does TradingForexPay broker operate?
Traders are required to create an account and deposit money into their respective Bitcoin wallets which are held by the owner of TradingForexPay.
There is no trading platform or software to use for trading. There is no middleman that forwards our “trades” to the respective exchanges or markets.
In fact, there’s zero evidence that a broker is involved in our dealings with this website.
The only thing we can do is to create an account and deposit Bitcoins on the platform.
This process is fully automated. Once you sign up, the deposit process is straight forward.
Also, take note that the scam is accepting payment in Bitcoin only. This is convenient to the fraudster
Their way of operation tells us that this website is a scam, a pyramid scheme or a HYIP.
They’re not regulated
Brokers should have a license because they provide financial services.
TradingForexPay is neither regulated nor registered as a company.
This is yet another red flag and a sure sign that you will be scammed if you deposit any money into this platform.
If they are not incorporated and regulated, simply close the website and move on to something else.
Background of TradingForexPay is unknown
The website does not tell us where they’re operating this business from.
They don’t have a physical address and they’re also not telling us whether they’re using a virtual address.
There is no legitimate company that will operate without an address.
Furthermore, ownership details of this website is hidden. We don’t know who is in charge of the activities on this website.
This website has a lot of ref flags which are hard to miss out.
It’s for sure that anyone who sends Bitcoins to this thief will lose it.
It’s as simple as that.
Thanks for reading!
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