LumipayTrade – A Scam To Rip You Off

Lumipay Trade

I came across the Lumipay Trade website through a contact at LinkedIn. Since it was obvious that the fraudsters behind it are seriously promoting it, it became imperative that the investors should know why they should not risk sending their funds to this site.

There are thousands of investment sites launched every other day. The bad news is that most of them do not have the interest of the investor in mind but are just a channel through which malicious players hop to steal money for the uninformed.

What is Lumipay Trade?

Lumipay TradeThis is a site that claims that it is backed by an investment company that is actively involved in cryptocurrency and forex trading. It stated that its intention is to help the investor to reach their investment goals.

Among the services it claims to be involved with are real estate investment and management, trading in options and commodity markets and using a diversified portfolios to help their partners to make profits.

Just like similar sites, it claims that it is easy to make profit through investments made with this site than relying on individual trading efforts. Despite the misgivings that an informed investor should have about this site, it claims that the investor could get their funds back if they’re not satisfied with the investment result.

Why You Should Avoid this Site?

There are many ways to identify a fraud site and going through Lumipay Trade, there is no doubt that this is another attempt to deceive the investor and steal their funds. Sending money to this site would assuredly lead to loss of such fund.

Let us examine some of the red signs that identify this site as a scam.

Plagiarism

Look at this quote from the site,

“We know the games brokers play. Being fund managers, we have created this framework of impeccable standards with complete transparency and the latest in trading technology.”

A Google check shows other sites that plagiarized the same content. Considering that Lumipay Trade is a new site, it is obvious that the fraudster behind it is not the originator of the content.

Lumipay TradeNo reputable company would copy the content of their website from a source without attribution. Sites that do that actually try to pass across intellectual work that belongs to others as theirs. This is a dishonest practice and it is found among scam sites and other cyber criminals.

Analysis of the Lumipay Trade site using plagiarism software shows that the site content was plagiarized from another site. The fact that the owners could not craft their own content shows they are not professionals. This means that sending your funds to this site is as good as flushing it down the drain.

Unrealistic ROI

Lumipay TradeAccording to the Securities and Exchange Commission website:

“SEC and CFTC staff have recently observed investment scams where fraudsters tout digital asset or “cryptocurrency” advisory and trading businesses.  

In some cases, the fraudsters claim to invest customers’ funds in proprietary crypto trading systems or in “mining” farms.  The fraudsters promise high guaranteed returns (for example, 20-50%) with little or no risk.”

Now compare this with the ROI promised investors by Lumipay Trade. The basic plan has 25 percent weekly profit. This is 100 percent which is equivalent to doubling your money in a month.

If the SEC thinks that 20 percent is a likely scam, how risky when you’re offered 100 percent by a shady site such as this. It is unrealistic to think that any company has the ability to double your funds in 30 days. Those that claim they do are hoping to get your funds and turn exit scams down the line.

Stole People’s ID for Testimonies

Lumipay TradeOnline businesses are aware of the importance of testimonies as a marketing tool for the promotion of their businesses. This is why they make effort to get users and other reputable individuals put in a word for the company.

Fraudsters also take advantage of testimonies on their sites to deceive prospective investors. This is so with the Lumipay Trade site which used stolen identities of people for testimonies.

Ironically, one of the testimonies is from Nana Appiah Mensah, who is wanted for fraudulent activities by the police. Other testimonies used images taken from stock photo sites and the internet.

Lumipay TradeLumipay TradeA site that cheats and tries to deceive the users is definitely a scam. This is why you should research on any investment promises before making appropriate investment decisions.

False Claims of Regulation

On its FAQ page, on if the site is regulated, it stated:

“Absolutely! LumiPay Trades is registered and is a sub-division of Lumipay Trades which deals in conventional investing, real estate and asset management.”

Even though the site did not provide any evidence that it is registered by an authority in any country, registration of a business is not evidence that the company is genuine. There are many businesses registered to be used as fronts to steal from people or commit other criminal acts.

In terms of regulation, no company with a regulator having oversight functions over its activities would operate without adhering to standard rules and practices such as identifying the owners of the company. This was not done of the Lumipay Trade site, so it is obvious that it is not regulated by any agency.

Conclusion

Fraudsters are audacious because they’re aware that many investors do not research the sites before putting money in them. Investing in random and unregulated sites is risky. This is why we recommend sites that are known to have built online reputation and those whose owners are known. Here is our top recommendation.

If you have information about this scam site or others like it, please send in your comments using the comment box below. For reviews that you’ll like to see, use the contact page above.

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Author: Jofor Humani

Peddling words has been a passion beneath the surface. I speak less than I write...naturally. Aside speaking and writing, I walk too...good for your heart they say. I sometimes do not feel like writing. Then I enjoy quiet times which I use to think and stay with family.

10 thoughts on “LumipayTrade – A Scam To Rip You Off

  1. WHEN BITCOIN STARTED , PEOPLE LIKE YOU SAID A WHOLE LOT OF BAD THINGS ABOUT BITCOIN AND YET IT IS STILL STANDING AND MOVING FORWARD.
    LUMIPAY IS REAL AND REALISTIC SINCE THEY HAVE BEEN PAYING TO THEIR INVESTERS WITHOUT ANYTHING PROBLEMS AND NOT A SINGLE CUSTOMERS HAS COMPLAINT ABOUT LOSING THEIR FUNDS ON LUMIPAY.
    I AM A CUSTOMER AND I HAVE INVESTED WITH LUMIPAY TRADE SINCE JANUARY 2019 AND THEY HAVE BEEN PAYING ME MY PROFITS CONSISTENT WITHOUT DELAYS….. SO FOR ME AND MANY OTHER CUSTOMERS LUMIPAY TRADE IS REAL AND LEGITIMATE…. AND THEY ARE VERIFIED AND REGISTERED ENTITY IN THE USA……I WILL ADVICE YOU TO ALSO SAY SOMETHING ABOUT THAT….!!!!

    1. What do you mean by being verified? Nothing is verified because the industry is not regulated. The strength of Bitcoin is in decentralization and the high hashrate needed to take over the network. This is unlike scams like Lumipay with a few individuals waiting to exit with people’s funds.

  2. Ciao tutti,
    my name is CARLA, from Italy, i was in India last June when i came across Lumipay , the first thing i thought was here is another Scam.then after some few day later a friends of mine also called me and informed me about the lumipay again so i gave it a try by investing some Etheruem .Honestly they have been paying me consistently ever since i started so i will say from my experience with them that they are 100% real though is looks scary and unrealistic.
    As i am writing now both me and my Friend are menbers of lumipay and we have also referred some other people into it.
    YOU are right it looks scary as scam but they are real because they have been paying without any problems and i have not come across anything customers who says they have not been paid.

    if there is anybody who any bad experience please share so we can advice our selves .

    for now all is going well 100%
    ADESSO TUTTO APOSTO RAGZZI.

    BUONA NOTTE .

    Carla Boldrini.
    Roma.

    1. As far as i can see, if they paid you, they have achieved what they wanted being getting you to promote their scam and lure your friends in. The losers would be your friends who will lose their investments. It is immoral to promote Lumipay and cause people to lose their assets to scammers.

      1. Mr JUFOR HUMANI,

        I have heard the CEO of JP MORGAN CHASE , Saying to the world that BITCOIN is a vehicle for Criminals. but now they are the gurus who have invested billions of Dollars into Bitcoin.
        So when i see people calling something as scam that,s when it attract my attention because when they call it a scam it simply means that is a THREAT to their industry. simply as that.
        i am not an investor with LUMIPAY , but surely i am going to sign up and invest very soon.
        thank you and my name is
        DANIEL BALFOUR
        Melbourne Australia.

  3. Hello,
    My name is ERIC MOORE , and i have invested with LUMIPAY TRADE , for 4 weeks now and they have been paying me without a problem and i pray they continue this way.i am here to say that they are real and legit.
    i think it does not matter if they look like scam or fraud, what matters is that they paying.so since they are paying without problems then they are real and legit and we will continue to refer other people and earn our money and we will keep praying that they keep up the good work.
    Is good that we share our experience. remember ONLY GOD know what will happen is the future.
    when you cant beat then , you join them.

    ERIC MOORE
    Atlantic city , NJ USA

    1. Even from your writing style, it’s so obvious that you’re an alias of Daniel Bafour. The signature is so obvious that any discerning person knows you’re the scammer behind this site.

  4. HEY,!!
    I have been with for one month now and they have been payin .
    SORIANO MENDOZA
    LIMA PERU.

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