Yet another crypto scam company
Some time at the end of 2020, bitfxtrade were recommended to me by someone who I thought I could trust. I was assured that the company was legitimate and their claims were honest.
I was wrong on 3 counts. It turned out I couldn’t trust this person, the company was not legitimate and they are far from honest.
There are a number of rules you should follow when investing in any cryptocurrency scheme and the first rule is to read through the companies website ( if they do not have a website and not all scammers have one then walk away – no thinking is required – just walk away.
A web search on bitfx-trade.ltd and you will find their website.
At first glance it seems reasonable but a careful reading of the details raises alarms.
Now this was either written by someone who is illiterate or (more likely) it was written by someone whose first language is clearly not English.
“We are a gathering of the gifted money related experts having an abnormal state of learning and long haul rehearse in the venture field. We have been filling in as a private sector store since quite a long while“.
This garbled comment would appear to be how Google translate has taken a phrase in a foreign language and translated it to English.
This suggests that Bitfx-trade is a very small organization with few (if any staff) and non of them speaking everyday English.
Further concerns are raised by the companies telephone number which is clearly a private number. I called this number several times and it was always turned off.
Now its vital that there is a way to communicate with the company should there be issues.
The online chat was not staffed and the number listed on the website was a private mobile number and it was always turned off when I called the number.
The second rule is to do as company search.
bitfx-trade do have a Companies House registered company but an inspection of the certificate and the comments made about the company does not look good.
Not submitting a confirmation statement is serious. In fact its so serious it can lead to a de-listing of the company which is exactly what has happened to bitfx-trade.
So according to Companies House FX Trademen Ltd the parent company of bitfx-trade has been struck off so this company is officially dead.
The third rule is is common sense.
Ask yourself – are the returns realistic?
The internet is full of crypto millionaires but they did not make their fortune by having a suspect company “turn $50 to $500 in 15 hours and returns like this are simply not possible. Ask yourself the question – if this company can turn $50 into $500 then why do they want your money?
Many cryptocurrency investment companies offer a similar investment package.
This is a typical offer from the type of cryptocurrency companies who engineer this fraud. Exoveinvestment is a scam. If you can read all about Exoveinvestment here.
Unfortunately we all suffer from greed. Its part of human nature. The idea of making 2% per day on your investment compounded over a fixed term sounds very attractive. The problem is that not only is it attractive – unfortunately its unfeasible.
Ask yourself – is this possible? Calculate what this actually means. Exoveinvestment are saying that they could turn $5000 into $5520 in 6 days. This equates to $27040 profit over a 52 week period assuming your investment remains at $5000.
However, just to spell out how unlikely this is, if you invested $1000 with Exoveinvestment on one of their 6 day plans and re-invested your capital and profit every time the plan cycle ended then in less than 52 weeks – you would have over $1million – all this from a $1000 investment?
I don’t think so.
How does the scam work?
Initially you will need to purchase a trading plan but ask yourself the question – are these returns realistic?
300% profit on $10,000 in 3 days?
This is simply ludicrous. If any person or persons could make money like this then why would they need your money.
Once you have purchased your trading plan you will receive an email informing you that you can collect your profit.
They will also demand you send them money in order to release the funds.
Now this is a very very common approach (see FX Trading scam).
My conclusion and scam rating for Fx Investment Company
No hesitation in declaring FX Trading Company a 5 star scam company. The scammers behind this company are liars and thieves. Clearly a foreign company or at least a foreign person as evidenced by their inability to speak and write English. The fact that the person who initially made contact with me is no longer around suggests that this company too will soon be gone and they’ll take every investors money when they leave.
For information on a genuine investment opportunity please navigate to the home page of this website