Checking the company’s regulatory status, reading reviews and testimonials, and consulting with a financial advisor are all things that everyone who wants to start making investments or trading online should do before making any transactions. Why? Because there are tons of scams out there and they’re targeting your hard-earned money. This article provides a rundown of four firms that any potential investor or trader should stay far away from.
ARK Capitals
Forex, Contracts for Difference (CFDs), Indices, Precious Metals, Energy, and Crypto Derivatives are just a few of the many products offered by ARK Capitals, a prominent global online trading company. They provide MetaTrader4, which is fine, and their spreads aren’t too bad, but their leverage is way too expensive. However, the investigation has revealed that the firm is not a licensed broker and that its statements are false.
It is stated that ARK Capitals is regulated in Seychelles, but this is not the case. From what we were able to ascertain, this kind of business exists solely in Saint Vincent and the Grenadines. Virtually no information can be found online on companies based in St. Vincent and the Grenadines, and the SVGFSA, the local regulator, does not oversee the Forex trading industry. Owing to the fact that ARK Capitals is unregulated and widely believed to be a fraud due to its misleading advertising, you should avoid depositing any money with the company.
MetaTrader4, the company’s trading software, has dominated the retail market for trading platforms for more than a decade. However, the Buy/Sell difference between the Euro and the Dollar is only 1.3 pips with ARK Capitals. It’s not worth your time to risk your money with ARK Capitals when most registered brokers are cheaper and give 1 pip, or less, even with their mini accounts.
The maximum leverage of 1:1000 has become extremely high risk and should not be used by anyone. With such a high margin call level within a few pip swings, every deal you make is a complete gamble. Yes, ARK Capitals, despite the possibility they use MetaTrader4, build a platform that turns an investor or trader into a complete gambler.
Bizardocoin Forex Scam
Bizardocoin.com is a fraud that promises passive income. Investors should avoid this broker since it is untrustworthy. The crypto broker’s website lacks employee details, raising red flags. The broker’s website includes free stock photos for staff, further demonstrating its untrustworthiness.
Bizardocoin.com falsely claims to have an MSB registration and FINCEN certificate. Offshore scammers routinely falsify this certificate. Guess what? Bizardocoin.com is neither registered/certified in FINCEN nor MSB which is already a major red flag for investors and traders.
Bizardocoin.com may be fraudulent for various reasons. The broker provides wrong information and claims on its website, embraces unlawful policies, and encourages traders to invest more. The broker offers unrealistic returns and does not reveal danger warnings on its website. If you’ve been browsing some legit crypto platforms, you can easily recognize how unrealistic Bizardocoin.com’s offers were.
Forex Scam brokers often operate in nations or islands with little regulation and simple firm registration. The broker may offer traders significant prospects of profit, the fund withdrawal is the obvious issue, and users would be greeted with unlawful withdrawal conditions and be unable to withdraw.
Bizardocoin.com is a scam brokerage company, therefore don’t invest. If you’ve invested some money with Bizardocoin.com, you better stop depositing and don’t pay withdrawal fees. Always invest cautiously and properly study any broker before investing.
Bizardocoin.com’s website is also unprofessional. Investors should be wary of its opaque business practices. Customers have also complained about being unable to withdraw payments from Bizardocoin.com. Bizardocoin.com may also stop responding or alter its name and URL without notice to traders. These prove the broker is completely unethical in its core.
Bizardocoin.com is also unregulated, therefore they cannot be held accountable for fraud by corresponding authorities. Investors face a significant risk as their funds are not protected. FCA, CySEC, and ASIC-licensed brokers are best. These regulators protect investors’ funds and ensure the broker’s legality and ethics.
In conclusion, Bizardocoin.com could be a fraudulent crypto platform. They lie, utilize bogus photos, and are unregulated. Bizardocoin.com investors should remove their funds immediately. Remember that investing in platforms that promise high profits with low risk is risky. Research and invest with reliable and licensed brokers to avoid fraudulent platforms like Bizardocoin.com
Read Detailed Review of Bizardocoin.Â
Chiliz
Socios.com fan tokens can supposedly be purchased and sold on the cryptocurrency exchange Chiliz. It promotes itself as the first cryptocurrency exchange to tokenize sports and entertainment. It claims to have partnered with some of the most recognizable names in both industries, such as FC Barcelona, Paris Saint-Germain, Juventus, and Atlético Madrid. Chiliz, on the other hand, has just been accused of not paying its employees or advisors and of manipulating the price of cryptocurrencies.
Dreyfus, the creator of Chiliz reportedly gave the reason for not paying out advisers as the fact that he didn’t want the value of Chiliz to dive, saying that he didn’t want “genuine investors” who acquired Chiliz to lose money as a result of advisers dumping off the currency.
Some employees had been expecting to be paid in Chiliz, but they were not. One worker said they were unable to cash in on the $10 million they said Dreyfus owed them when the value of Chiliz rose. Subsequently, Chiliz issued a new agreement to replace the ones previously signed by employees, which resulted in millions of dollars received only thousands. Reports indicate that a second employee who discussed the matter with the media was subsequently terminated.
A representative for Chiliz admitted that the company had been late with payments and said that this was not the way they wished to do business. This action, however, casts considerable doubt on Chiliz’s corporate ethics and the viability of investing in the company. Investors should do their homework before putting their money into a company, and they should be careful of any crypto exchange that seems too good to be true like Chiliz.
If you have lost money to companies like Mining-invest, Swiftflashtrade, or Florencecapital, please report it today by bellow form.
BTCBox.la Forex Scam
BTCBox.la is a cryptocurrency trading platform that boasts extensive market depth and liquidity. Out thorough investigation, however, suggests that BTCBox.la is not necessarily a reliable choice for anyone seeking to purchase, sell, or exchange bitcoins.
BTCBox.la’s lack of transparency on the company and its staff should raise red flags. The firm website does not disclose any information about the company’s history, mission, or team members. Verifying the company’s validity and the veracity of its operations is challenging without this data.
Another concerning problem with BTCBox.la is the platform’s governance and protection of funds. There is no mention of the safety of user funds or confirmation that BTCBox.la is regulated by any monetary body on the company’s website. This lack of regulation and transparency raises issues about the safe use of the platform in general.Â
The reliability of BTCBox.la’s trading software is also in question. The company claims to offer a user-friendly platform with powerful trading capabilities, but there are no reviews or testimonials to back up these claims. In addition, there is a lack of transparency on the security protocols in place to safeguard user information and financial dealings.
When it comes to deposit and withdrawal methods, BTCBox.la claims to offer various alternatives including credit/debit cards, wire transfers, and cryptocurrencies. The process for withdrawals and any associated fees are not disclosed. Concerns about the platform’s credibility are only heightened by this lack of openness. BTCBox.la has been reported to conduct liquidity scams by many users who shared their experiences in forums and reporting sites.
Based on the evidence available, it’s an obvious sign that BTCBox.la is a problematic crypto trading platform. Due to a lack of regulation and transparency, as well as a lack of information about the company, its personnel, and its operations, it is impossible to entrust the platform with using cash. Users should avoid making deposits to BTCBox.la and instead seek out a more reliable and open-handed exchange service.
However, BTCBox.la is different from BTCBox Which is a mobile app that’s developed in Japan and facilitates cryptocurrency trades. Both the Apple App Store and the Google Play Market feature this mobile application. This BTCBox is actually legit with their current presence in both major digital stores.Â
Verdict
In conclusion, before making any financial commitments with any of the organizations we’ve reviewed above (ARK Capitals, Bizardocoin.com, CHiliz, and Bitemu), you should carefully analyze the warning signs I’ve outlined. In spite of slight variations in branding and offering, these businesses all exhibit the same main warning signs. You should take every precaution to never engage in any kind of trade with these firms. Always do your homework on a firm and double-check your facts with a financial expert before investing.
