There are many sites that promise to help you make money on the internet. These have proliferated since the advent of Bitcoin and Miners Trade is one of them.
In this review, we shall look at what the site claims with a view to determining if this is a good investment site that you should consider sending your funds to.
Selection of an investment site should be based on proven track record of the team behind it as well as compliance with laid down regulatory guidelines.
However, this is mostly absent in the cryptocurrency space so malicious players have taken advantage of this scenario to project their frauds online.
Despite this situation, we can still find reliable sites, however, it makes sense to keep your funds safe from the cyber criminals prowling the net prior to getting the real deal.
What is Miners Trade?
This is a site that clams that it is involved in trading of commodities such as stocks since 2004. However, it seems to have morphed into a site that is more interested in trading other commodities that it claims are highly profitable.
In fact, a look at the introductory section of the site shows that it is full of jargons that leave no one in doubt that this site either doesn’t want the visitor to understand what it does or just used those to create the impression that it is a serious business.
Irrespective of the reason for use of complex terms, it is advisable that the investor understand clearly what they are getting involved in before parting with their funds.
According to the site,
“The essence of the aggressive trading (Predatory trading) is neglecting of optimal risk values. Wanting to get the maximum profit for the minimum period of time is a deliberate overstatement of the value of risk per trade.”
This sure would not make sense to most investors. It also raises suspicion that there is an intention to confuse the prospective investor as confirmed by the Securities and Exchange Commission (SEC):
“Fraudsters often use complex new technologies to perpetrate investment schemes. They can claim their technology is highly secret. Investors should always be suspicious of hard to understand pitches that accompany promises of outsized returns. Sometimes the language includes spelling, grammar, and typographical errors that can make the description confusing – another red flag the “investment” could be a scam. ”
Low Quality Content
The Miners Trade fit the scam classification as outlined by the SEC not just because of its use of complicated jargons, the site content shows that those behind it are anything but professionals. Why would you trust that a site with low quality web copy has the ability to make you profit?
Here is a section of the Miners Trade site:
“Dominance on the stock trading market is a problem, which can handle only by a well-organized and well-motivated company. Since the organization and operation of commercial entities are effected by means of shares, the major indexes and commercially attractive lots of shares are highly liquid commodity. And we need a lot of effort and work to be the first to buy one or the other lot. In order to avoid, and in absolute terms to exclude the risks of subsidence, management ofminers-trade.com uses aggressive trading strategy in its trading activities.”
Now that’s not exactly the sort of content that you would expect from a professional company. The low quality content and grammatical errors are enough to tell you that those behind this site should not be trusted with your funds.
The SEC site mentioned that the ROI promised by a site could be an indication that it is a scam. This makes sense since no business would make profit that is far outside the range expected from other businesses in the same industry.
No trader would assure you that they consistently would make high profit to the extent that they always pay their investors outsized profits. But from what we have seen, Miners Trade promises ROI as high as 300 percent in 48 hours. This is not tenable and so shows that this company is fraudulent.
Has This Site Been Online since April 2015?
A Whois search shows that this site’s domain was purchased on May 12, 2019, yet it claims that it has been online since April 2015. This is a dishonest practice common with scam sites. Their desire to deceive investors by making them believe that they’ve been online a long time is responsible for this.
It is important that you learn how to avoid scams irrespective of what promises they make. There are reliable investment sites that are well-known and regulated by relevant agencies. These are the only sites that you should entrust your funds to. You can check our top recommendation here.
What is your experience with scam sites? Please share them using the comment box below.