Caution! BestFXPremiumTrade is an offshore company! Your funds may be at risk.
RECOMMENDED FOREX BROKER
BestFXPremiumTrade Key Features
🔴 BestFXPremiumTrade’s services are questionable – a warning sign!
🔴 BestFXPremiumTrade isn’t licensed – a red flag!
🔴 BestFXPremiumTrade isn’t transparent – a red flag!
🔴 BestFXPremiumTrade creates unrealistic expectations – a red flag!
BestFXPremiumTrade Products and Services
BestFXPremiumTrade is a weird crypto creature. At first, people will consider it a Forex broker, but gradually, while browsing through the website, it becomes apparent that it’s actually not the case. BestFXPremiumTrade doesn’t even have a trading platform, so how could they provide Forex services – it’s impossible! Also, it’s worth noting that BestFXPremiumTrade offers cryptocurrency mining but fails to provide any information about the so-called service. In fact, we doubt that the people who created BestFXPremiumTrade have any idea what cryptocurrency mining means and how it happens, but that’s not something we can prove. What we can be certain about, though, is that BestFXPremiumTrade creates a false sense of security and behaves like the typical HYIP promoting get-rich-quick schemes! Beware!
HYIP stands for High-Yield Investment Programme and these businesses usually promise higher ROIs (return on investment) than usual. In some cases, the offers are just ridiculous- up to hundreds and thousands of percentages per day, which certainly can’t happen. To draw a comparison, even the wealthiest banks or investment funds are not capable of delivering more than 10% per year, let alone per day or week. Therefore, the products and services assessment suggests that you’ll be at risk if you deposit.
That being so, it’s worth considering trendy alternatives that can help you build an extra income, such as Forex brokers PAMM managed accounts, social trading or crypto services that may as well fulfil your investment needs. For example, many cryptocurrency exchanges already provide passive income opportunities like BTC and ETH staking but make sure to subscribe to well-known, proven networks.
BestFXPremiumTrade Company and Regulation
BestFXPremiumTrade is misleading customers! They pretend to be regulated, but that’s a blatant lie – in fact, BestFXPremiumTrade is either completely illegal or a brand of a shady company that’s impossible to unearth. In both cases, it’s not regulated, meaning that customers who deposit will expose money at risk! Beware!
The lack of regulation implies that the people operating this HYIP are working unchecked, meaning they can misuse or misappropriate your funds, eventually bearing no responsibility for their actions. To draw a distinction, regulated investment companies are forced by law to follow certain rules that guarantee the safety of clients’ funds. For example, to get a license, a firm should meet minimum capital requirements that vary from country to country and may also depend on the product specification as there are many types of investments possible- stocks, bonds, mutual funds, banking products, fixed-income, retirements and so on.
In the US, the minimum capital requirement is 20 million USD, which happens to be among the heftiest in the world. Other than that, US financial services companies are also required to keep accounts segregated, thus ensuring that clients’ money can’t be exposed to unnecessary risks or stolen. However, it’s worth noting that the US regulatory framework is very complex as there are numerous financial authorities, among which NFA, CFTC and SEC, to name a few, and all of these monitor companies in one way or another. The US markets may be tricky for the ordinary investor, so make sure to acquaint yourself with the environment before you’ve wasted money on potential scams like the one under review. And you’d better avoid unregulated investment businesses at all times.
BestFXPremiumTrade Address and Contacts
|Address:||72 Broad St, Reading RG1 2AF, United Kingdom;|
327 N Beverly Dr, Beverly Hills, CA 90210, United States
BestFXPremiumTrade’s addresses are impossible to verify and most probably false, and there is no phone number provided. In such a case, we should raise a red flag because of the lack of transparency – BestFXPremiumTrade is shady, which suggests that something wrong is going on there!
When it comes to investing, transparency is crucial as you should know who’s running the investment and where your money actually is. Legit firms always operate transparently and are bound by law to provide the public with basic corporate information, including addresses, contacts and legal documents disclosing all provisions related to the service. And our experience shows that it’s most probably a scam if you can’t reach anyone over the phone given, can’t validate the addresses or can’t in any other way prove that the investment provider has the authorisation to offer financial products.
BestFXPremiumTrade.com Website Info
|SimilarWeb Ranking||None at the time of writing|
|WHOIS Reg. Date||2022-02-19|
|Registrar||Hosting Concepts B.V. d/b/a Registrar.eu|
|Owner||Redacted for Privacy|
|Administrator||Redacted for Privacy|
Is BestFXPremiumTrade Safe?
BestFXPremiumTrade is not safe! It’s a fake Forex brokerage offering highly controversial services! Depositing with business creatures like BestFXPremiumTrade is always dangerous, so make sure to avoid it, or you’ll risk losing money to fraud if you deposit!
Dealing with HYIPs and other unregulated investment providers is not recommended for many reasons. Above all, the absence of regulation strongly suggests a scam as only regulated firms are authorised to provide investment services. As you probably guess, scams can’t flourish in a strong regulatory environment, so you’d better think twice before you’ve deposited with unregulated investment schemes.
The authorisation is only granted when the firm complies with the requirements and standards, which guides how the entities should treat you as a customer and what sort of information they should give you. Each country’s regulator maintains a register of licensed firms and the investment services that each licensee is authorised to provide. On the other hand, unauthorised firms aim to avoid complying with the controls that legal, authorised entities are subject to, thus leaving investors entirely unprotected. Needless to say, scammers want to get you totally unprotected, and that’s why they always work without a license.
As for HYIPs themselves, many of these schemes operate precisely as a Ponzi because many investors can actually withdraw initially, but sooner or later, the service will inevitably close. HYIPs usually target traders and investors with little or no experience by promising fictitious investment opportunities said to deliver unrealistically lucrative gains. 10% or 100% per day certainly isn’t a legit offer.
I’m having a bad experience with bestfxpremimtrade, I deposited an amount of money, saying that between 4 to 5 days I would have a return of 5 times the amount I deposited, after 5 days it was released to withdraw the profit amount, but to withdraw the profit should pay 1,500 dollars to withdraw the profit, where none of this was informed, leaving at a loss and unable to withdraw my money…
Estou tendo uma experiência ruim com a bestfxpremimtrade, depositei uma quantia de dinheiro, dizendo que entre 4 a 5 dias teria um retorno de 5 vezes da quantia que depositei, após os 5 dias foi liberado para saque o valor de lucro, mas para sacar o lucro deveria pagar 1.500 dólares para sacar o lucro, onde não foi informado nada disso, saindo no prejuízo e sem conseguir sacar o meu dinheiro…
They are crooks! Initially I made a deposit of 200 euros, then I reached a profit of 6,000 euros after a few days. They topd me I could withdraw 3,000 if I paid another 200 euros. I paid. After, they told me that the company did not accept and I had to pay abother 300 euros. Of course, I didn’t pay, but I still ended up with a loss of 400 euros!
A big lie!
I was approached by a girl named Lisa through Instagram. She asked me if I’d be interested in making a few bucks on the side doing trades with Forex. At first I was sceptic but she somehow convinced me to transfer €200 into the account I’ve set up myself on their website. Once the funds were transferred she began to dig for more cash. The 200 wasn’t enough to maximise profits and does not comply with ‘company rules’ as the minimum should have been €500…. She never mentioned anything about this minimum requirement. This was only mentioned right after I deposited my first €200. This made me very upset and I tried to call Lisa but she kept insisting that at the moment she could only write messages and not speak to me.
I noticed something fishy was going on already there and then. Her Instagram account showed signs of fake followers and all of her photos (12 of them) were all uploaded to the social media platform 5 days prior to her reaching out to me.
I wanted my €200 back and called her out as a scam artist and she got upset.
All of a sudden someone else reaches out to me saying he was the CEO of bestfxpremiumtrade and that he was informed by Lisa about our ‘misunderstanding’ around the minimum
amount to be deposited.
I tried to call him but he also mentioned that he can’t talk at the moment and can only write. I called him a scam artist as well and he started to send me photos and videos from their ‘office’ to reassure me that everything was legit and real. Some videos were sent from people in Romania and other countries in which they recorded themselves saying bestfxpremiumtrade, Lisa, the CEO (who goes by the name Lucas) are legit.
Somehow my stupid ass thought this might still be real and legit and I proceed with the additional €300 deposit to meet the ‘requirements’. Somehow they were never able to check the account and were always requesting screenshots. (While I’m writing this I feel ever more dumb falling for this).
The transaction was completed and I could see my €500 sitting there gaining ‘profit’. Two or three days went by and I received an email from bestfxpremiumtrade (full with grammer mistakes by the way) saying my profits have reached the maximum amount of €17,000 and was ready to be withdrawn.
I’ve sent Lisa screenshots and she was telling me how proud she was and that I should withdraw it immediately so I could reinvest some cash and make even more money.
Then the fun part starts. Apparently as the other user mentioned here on the scamosafe website. Another bunch of fees needed to be paid in order to get my profits paid out. The total amount €1,500! I was furious. Why they couldn’t just deduct those fees from the profit and pay me the remaining amount?!
I reached out to the ‘CEO’ Lucas and raised my concerns. I didn’t have €1,500 laying around to pay the fees and I asked him why they could not just deduct those fees from my profits? ‘That’s against company policies’ he said. Bear in mind that this came from the so called CEO..
I told him I only have around €200 left in my crypto wallet and I asked him if he can take it as a prepayment to only pay me out a part of the profits so I can pay the rest of the ‘traders fee’ and get the full profit paid out.
After a bunch of messages with Lucas back and forth he promised me that if I’d transfer the €200 he’d release a part of the profits.
My stupid ass decides to transfer the €200 anyway and I’ve sent him a screenshot of it. He does not reply. I waited and waited but nothing came and my last €200 definitely left my account.
After a while I receive and email from the company (again in horrible English) saying dear customer, thanks for the €200 but unfortunately the company has decided not to release the profits and asks me to pay for the remaining amount of fees of €1,300! I absolutely lost my shit. I called this Lucas a couple times and wrote him that he tricked me into transferring money and that he had broken his promise of releasing a part of the profits.
The next thing happens. Lucas calls me. Some dude with a strong African accent tells me that there is nothing he can do, and that he really needs that remaining €1,300 in order to release my profits. (Also in the email it was a mix of $ and €, very sketchy). He is the so called CEO but was not informing me about any of these fees, and neither did Lisa, from the start.
Long story short I was basically scammed €700 just because I was blind to the obvious irregularities and lies. I will most likely never see that money back again.
I’d hope these people are being caught and need to reverse all transfers that were made by innocent people like myself. Hopefully people are smart enough to do some more background checks, end up on scamosafe.com, read these reviews and not transfer any money to this scam artists who call themselves Forex traders.