Caution! Foxdaotrade is an offshore company! Your funds may be at risk.
Foxdaotrade Key Features
🔴 Foxdaotrade services are questionable – a warning sign!
🔴 Foxdaotrade was reported as a scam – a red flag!
🔴 Foxdaotrade is not transparent – a red flag!
🔴 Foxdaotrade creates unreasonable expectations – a red flag!
Foxdaotrade Products and Services
Foxdaotrade claims that it was established in 2014 as the first cloud mining provider and gradually became a multi-functional cryptocurrency exchange trusted by over a million users. Bold claims, but anything they say it’s actually a lie – Foxdaotrade is just a fraudulent website identical to Zixtrader and very similar to Binance-trade.net. All three are apparently linked to each other, and from that perspective, we are inclined to think that all products and services are fictitious and fraudulent. You should be cautious with Foxdaotrade as all scammers are currently crazy about crypto, and literally, every second fraudulent scheme is related to crypto.
Cryptos went to become extremely popular, and they come with tremendous profit potential, but the assets are pretty complex and a bit enigmatic for the vast majority of people. Bitcoin is still surging, and the entire crypto market is growing exponentially, but all investments carry significant risks, such as high unpredictable volatility and absence of regulation, for example. And we’d also like to emphasize the fraud risk- crypto scams are virtually everywhere. In fact, the latest trend among scammers is to create fraudulent websites offering fictitious crypto investments and mining services aimed to entice unsuspicious investors into scam settings. The fraudulent offers usually stick to the rule “sounds too good to be true”, the entity offering the services is totally anonymous, and there is no regulation whatsoever. So, based on the products and services offered alone, we can affirm that the entity under review is dangerous. You’d better avoid it.
That said, it’s worth considering trendy cryptocurrency alternatives that have already proven to be reliable. For example, many cryptocurrency exchanges like Coinbase and Bitstamp already provide passive income opportunities like BTC and ETH staking, other earning opportunities, affiliate programs, so on and so forth. Both mentioned are law-abiding financial firms that operate transparently, so you won’t be exposed to fraud risks if you trust them.
Foxdaotrade Company and Regulation
Foxdaotrade shares little corporate information and cannot in any way prove its claims that it’s registered in the UK. However, they falsely claim to have all essential licenses, which is a pure lie – Foxdaotrade is not licensed by any authority whatsoever! It’s unregulated and practically illegal!
However, specific details reveal the dark nature of Foxdaotrade. Namely, it associates itself with FinMAX – a notorious scam blacklisted by numerous European regulators, which is behaviour hard to explain. We don’t know what’s the motivation and why Foxdaotrade wants to associate with FinMAX, but that’s certainly a warning sign! Beware!
So, the crypto service under review isn’t a typical firm, and as such, it’s not regulated. The absence of regulation implies that your investments will be at risk if you deposit. Moreover, you won’t have access to complaint procedures or money protection schemes, so if things go wrong, you’ll be the one to suffer the complete loss. Even more so, the digital coin transactions are anonymous, so if you get scammed by a shady crypto provider, you can’t get your money back.
Indeed, cryptocurrency regulation has been a hot topic for a long time. The digital coins themselves are not issued or governed by central banks, but too many countries already have plans to introduce centralized cryptocurrencies. Still, Bitcoin is a peer-to-peer payment system that’s considered too risky for many. However, many crypto firms are now operating with financial licenses; they are transparent, and their clients can benefit from certain customer protection measures if things go wrong. And that doesn’t apply to the entity under review, which is an anonymous and most probably totally illegal enterprise that can switch off its servers, pocket clients’ money and get away with the crime.
Foxdaotrade Address and Contacts
|E-mail:||[email protected]; admin[email protected]|
Foxdaotrade’s contact information is concealed, so the lack of transparency becomes more than obvious, and it triggers yet another major red flag – shadiness is always a warning sign!
Considering investment opportunities, transparency is always crucial. As for cryptos, you already know that Bitcoin is a peer-to-peer payment system, which is designed to protect the privacy and to provide security. However, that doesn’t mean that the crypto providers should also be anonymous. After all, these people will handle your money, so you should at least know who they are and where they operate from. In fact, we need to note that some trustworthy exchanges don’t reveal such information on their websites, but it’s still easy to verify that businesses are legal, law-abiding companies; therefore, it’s always a worrying sign if the crypto provider isn’t transparent.
Foxdaotrade.com Website Info
|SimilarWeb Ranking||None at the time of writing|
|WHOIS Reg. Date||2022-08-18|
|Registrar||PDR Ltd. d/b/a PublicDomainRegistry.com|
|Owner||Redacted for Privacy|
|Administrator||Redacted for Privacy|
Here, we’ll disprove some more claims. As already mentioned, Foxdaotrade claims to have been established in 2014, but that’s a pure lie! If you look at the table above, you’ll see that the website appeared literally 5 days ago!
Is Foxdaotrade Safe?
Foxdaotrade is not safe! We exposed it as a scam and can confirm that you’ll waste money on fraud if you deposit with Foxdaotrade! Stay away from this scheme!
Scammers are always riding the trends, so it’s not at the least surprising that cryptocurrency fraud is now blooming. Even more so, the high-tech nature of Bitcoin actually facilitates scams as most people don’t really know how crypto works, so scammers take advantage of the lack of understanding. Indeed, the crypto scam has been here for a while, and it proved to be extremely dangerous- just recall OneCoin, which happened to be a multi-billion Ponzi scheme disguised as a revolutionary digital currency. However, scammers rarely go out of their comfort zone, so most crypto scams happen to be very similar to the typical investment fraud.
The fraudulent crypto schemes are also anonymous and illegal, while scammers introduce themselves with fake identities. There are also too many impersonators resembling the websites of valid start-up companies from where customers get redirected to other insecure fishy payment portals that may as well carry additional security risks. The cons yet again promise the moon and the stars to their victims but won’t deliver a thing in the end. However, the difference between crypto and the rest of the investment scams is that people are more likely to believe that they can become rich overnight as Bitcoin has already proved to have massive profit potential. In any case, you should be very cautious when it comes to crypto, as the markets are plagued by scammers ready to take advantage of you.