Caution! Emprextrades is an offshore company! Your funds may be at risk.
RECOMMENDED FOREX BROKER
Emprextrades Key Facts
🔴 Emprextrades offers questionable bitcoin related investment opportunities – a clear sign of a scam!
🔴 Emprextrades is quite coy with crucial contact information – beware!
🔴 Emprextrades lacks the appropriate license for the provision of its services – a huge red flag!
🔴 Emprextrades’ domain has been registered only recently – another off-putting detail!
Emprextrades products and services
Emprextrades’ business model relies on investors depositing under false promises that the company can achieve profit rates of 600%. In other words, Emprextrades is a scam that is simply trying to steal your deposits.
People should always be cautious when dealing with businesses offering enormously high yields because it’s scammers’ trait to promise big and create unrealistic expectations. In reality, regulated financial companies cannot secure more than a few percents annually with their fixed-income products. There is a huge discrepancy between these offers and the regulated companies standards. Judging by the products and services they sell, we suspect it’s a scam, so beware.
Emprextrades company and regulation
Emprextrades is not a licensed company – and to its credit it does not claim to be one either – but still, we expect an investment firm to hold a license from a regulatory body.
The US financial services regulation is very complex in the USA. Derivatives markets regulation is a responsibility of CFTC and NFA. Forex brokers and most of the investments companies have to be NFA members and CFTC registered to operate in the USA. On the other hand, securities markets are controlled by the SEC, a government independent agency responsible to maintain the integrity of the financial markets.
While SEC focuses more on the procedure regulation insisting on financial reports and management discussion and analysis, NFA and CFTC impose pretty straightforward requirements. To become authorised the companies have to provide 20 million USD in paid-up capital, which is considered a guarantee that the businesses can survive in turbulent times and pay whenever they have to.
Other customer protection measures include clients’ accounts segregation and leverage restrictions for forex brokers- 1:50. Also, CFTC brokers’ clients are not allowed hedging, which is one of the very unique US features. Unfortunately, the cryptocurrencies regulation is still inept, so traders and investors should be wary when dealing with crypto offers.
Emprextrades address and contacts
Emprextrades provides us with the following address: 13 RED CROSS STREET BRISTOL UK. There is no way for it to be located there, however – it is not licensed in the UK, and the address has been used by other scammers in the past – reviewed below:
Transparency is crucial when talking about brokers and investment companies, and it’s part of the regulatory framework. The regulated companies are open to financial authorities following certain transparency rules, so it’s generally unlikely to conduct fraudulent activities. They are also bound to provide the public with crucial information about themselves, making it easy for traders and investors to confirm the company’s legitimacy.
Emprextrades website info
Emprextrades’ domain has been online since the end of February 2021 – this makes it less than two months old at time of writing. Add to this the incredible obscurity of the domain, which is not even listed on SimilarWeb at all, and you get two compelling reasons to avoid Emprextrades – young and unpopular domains are the home of scammers.
Another red flag is the IP address that Emprextrades’ domain is hosted on – 22.214.171.124. There are over 30 other websites co-hosted there. All of them run some sort of scam, with the ones we have reviewed found below:
Finally, the owners of the domain have failed to live up to the principles of transparency outlined above once more, as they have concealed their identities from WhoIs lookups.
We paid utmost attention to the regulation and transparency in the sections above because it’s mandatory for trading and investments. Pretty much each company offering financial services have to be authorised by the local financial authority.
However, some entities operate unlicensed and intentionally run investment fraud. It would be best if you only dealt with companies authorised by the regulators, so always check to make sure they are. Bear in mind that if you trade with unauthorised businesses, you won’t be protected, so it’s very likely to suffer losses almost impossible to recover if things go wrong.
Online scam is trending nowadays with fraudulent websites popping up literally every day. The financial authorities increase the number of warnings issued year after year, but the dangers are still out there and growing exponentially. You’ll realise the hazards when you consider OneCoin scam- it’s still impossible to calculate the total loss, but it’s regarded as 15 billion worth fraud. Make sure to trade with licensed and regulated companies to avoid off-putting losses.
DEAN P COMUNAL
I sent 500 dollars us worth of bit coin to cheeyne boone I belived I was scammed she said I sent it to your address my name is dean comunal
I invested 1500 dollars. They told me upgrade my account by sending 1200 i could cash out. They never let me cash out or bothered sending me my refund. I was told to send another 1200 for a commission fee. They even had me to do a fake testimony for instagram as If I had gotten paid. but I have proof of everything the conversations and my account information since it’s not popping up now. I have asked for a refund to avoid issues but I have been ignore.
Erin Golden, a lash expert i used to go to posted on her Instagram page about a successful trading with her coach Kymxnguyen (IG name) by Bitcoin mining and that she was able to withdraw her profit of $25K plus by shelling out only $1K. She encouraged us to do the same and that we should message her coach. And so i did, after i sent the money to kymxnguyen, she sent me the cryptoemprextrades.net website info to set up an account. It took her the next day to get back with me, and at this point, there was already $7969 in the account with $6969 available for withdrawal. I tried to withdraw money to make sure it wasn’t a scam but i was told by both kymxnguyen and an agent from the website that i needed to pay the upgrade fee first of $2200 or more depending on the brokerage level status that i choose, otherwise, i will not be able to take any money out. I didn’t send any more money as things were not adding up anymore.
I was not worried at first because i know Erin Golden since i go to the lash salon she works at. I messaged Erin but she never replied back. I would not have believed if this was from a raypost but since it was from someone i know, i went for it.
Another victim here. After several attempts to close account I was told today to NOT CONTACT them again.