Caution! Litefxtrade247 is an offshore company! Your funds may be at risk.
Litefxtrade247 Key Features
🔴 Litefxtrade247’s services are questionable – a warning sign!
🔴 Litefxtrade247 isn’t licensed – a red flag!
🔴 Litefxtrade247 isn’t transparent – a red flag!
🔴 Litefxtrade247 creates unrealistic expectations – a red flag!
Litefxtrade247 Products and Services
Litefxtrade247’s services are highly suspicious! We claim so because of the Binary Options provided, which more or less proves that Litefxtrade247 is a scam! The so-called trading instruments were long ago proven to be prone to fraud and price manipulation, and as a result, these were banned literally everywhere in the world! In fact, people can still trade binaries but only through licensed exchanges in the US. Brokers are not allowed to offer Binary Options!
To illustrate our words, we inserted a screenshot, and as you can see, the EUR/USD price displayed on the platform is 1.14, which is a fraudulent rate! At the same time, the most popular currency pair in the world was around 1.11! Litefxtrade247 is highly likely a scam! Still, we should also note that Litefxtrade247 offers get-rich-quick schemes, promising exceptionally high returns for investors, meaning that it’s very similar to each ordinary HYIP! 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.
Litefxtrade247 Company and Regulation
Litefxtrade247 pretends to be licensed by the three regulators – CFTC in the USA, CySEC in Cyprus and IFSC in Belize, but that’s not true! In fact, the so-called broker isn’t even registered as a brand of a company – the trading scheme is completely illegal, so make sure to avoid it, or you’ll risk losing money to fraud if you deposit there!
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.
Litefxtrade247 Address and Contacts
|Address:||1754 N Forest Oaks, Beaumont,92223, California (CA), USA|
Litefxtrade247’s contact information is false! In fact, the e-mail may be genuine, but we doubt that anyone will ever reply or reveal who they are! In any case, there is a lack of transparency, so yet another red flag gets triggered!
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.
Litefxtrade247.com Website Info
|SimilarWeb Ranking||None at the time of writing|
|WHOIS Reg. Date||2021-09-17|
|Owner||Redacted for Privacy|
|Administrator||Redacted for Privacy|
Is Litefxtrade247 Safe?
Litefxtrade247 is not safe! It’s a Binary scam we exposed, so make sure to avoid it, or you’ll get scammed! Frankly speaking, the website is of inferior quality – Binary scams are already outdated, so Litefxtrade247 apparently used a template deployed hundreds of times to save money while creating the fraudulent scheme! However, bear in mind that fraudulent websites are just a part of the crooked business, so there are significant dangers ahead! These scammers are experienced, notwithstanding the fact that they are lazy to create more sophisticated fraud! When approached, they’ll know how to manipulate you, so you’ll need to exercise extreme caution with Litefxtrade247!
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.