There are many sites that are many sites that are launched with the purpose of showing people how to make money using the internet. However, not all deliver on their promises.
In this review, we shall look at Forex Trade Ltd, one of such sites which claimed that it is making money through various activities.
If you came across this site, you should be wondering if it is worthwhile to use it for investment. Bear in mind that there are many sites that are not what they claim, whose target is just to deceive people and steal their money.
In the rest of this post, we shall scrutinize this site so that any investors would be better informed about it.
What is Forex Trade Ltd?
The site claims that this is a trading company that is made up of several professionals who work together to accomplish outstanding results. Their trading activities seem to have grown remarkable and they now need more deposits from investors.
It claims that it has focused on different digital currencies and has minimized risks through investments in a wide range of portfolios. It therefore invites investors to participate in its profits which are available to all.
Having gone through this site, we discovered a number of red signals that indicate that putting your money in this site would result in losses. Here are some of the indications that you may be walking into an organized fraud when you make a deposit to this site.
For a reliable investment, check here.
From our experience in investigating many scam sites, one of the recurring features of these sites is that they mostly plagiarize their content from similar sites.
This is a clear indication that most fraudsters are too lazy to put in the work required to even build their scams.
A large section if not all the sections of Forex Trade Ltd were copied from another scam site. Our preliminary investigation shows that there are at least four sites using the same content.
These scam sites are Bit-funds Ltd, Supertraders.co, Bitonex Ltd, Vaincome and Hulutraders.
High Yield Investment Scam
Is it possible that a company would double the investment of every investor in 24 hours? I mean having people all over the world buy investment plans that automatically doubles their capital.
As improbable as this is, isn’t it surprising that there are many people who believe such lies from scam sites such as Forex Trade Ltd?
This is a high yield investment scam considering that its basic plan promises 130 percent in one day. The other promises 150 percent in 2 days. There’s a third plan that claims it would pay 200 percent of the investment in 3 days and yet another called VIP, 300 percent in one day.
Let’s assume this is true, the company is saying that if you made a deposit of $1000 today, you’d be paid $3000 tomorrow. Why would you believe that is possible?
Lied About Length of Time in Business
Scam sites mostly want to create the impression that they have been online longer than they actually have. The reason for this is that people tend to trust sites that have been online longer because they believe that such sites have built online credibility.
The Forex Trade Ltd site claims that it has been online since February 14, 2016. But a Whois search shows that the site domain was purchased on July 25, 2019. This means that it is a two month old site and not 3 years as they would want users to believe.
Claimed Another Company’s Certificate
You should understand that a company being registered does not mean it is into a legitimate operation. There are many companies registered just for the purpose of scamming people.
However, when owners of a company steal the certificate of another to pass it off on its site as theirs, it is evident that you are dealing with fraudsters.
The registration number claimed by Forex Trade Ltd, 11291411, belongs to another company with a similar name. This is Forex Trader Company Limited.
Obviously, fraudsters operate based on the reality that some investors would never crosscheck information placed on sites before sending their funds to them.
A Different Operational Address
Using another company’s address would likely result in the oversight of mixing up the operational or physical address of the company. This is observed on the site.
The certificate presented has 334-336 Goswell Road, London, United Kingdom, EC1V 7RP while the Forex Trade Ltd has its company address as 48 Warwick Street London, W1B 5AW United Kingdom.
Using False Statistics To Deceive
You may have noticed the Deposits and Withdrawal table on the site. If you are not informed about how scam investment sites work, you may think that this is a genuine record.
These records were arbitrarily placed to create the impression that people are actually getting paid through this site. This is false, so you must not be deceived.
It is easy to lose you funds to scam if you believe everything you read online. The purpose of reviews such as this is to remind you of this fact. There are genuine investment sites that you should consider using instead of random sites.
A genuine investment site must be regulated, its owners must be known and they must be shown to manage investors’ funds using best practices. You can check here for our top recommendation.
If you have sites that you’re thinking of investing with but not certain about them, please send us requests to review such sites using the contact page above.
Do you have experience with Forex Trade Ltd? Please send in your comments using the comment box below.