Caution! BestFXPremiumTrade is an offshore company! Your funds may be at risk.
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.