Miningtrade24 Key Facts
🔴 Miningtrade24 offers questionable bitcoin related investment opportunities – a clear sign of a scam!
🔴 Miningtrade24 forges crucial contact information – beware!
🔴 Miningtrade24 lacks a license for the provision of its services – a huge red flag!
🔴 Miningtrade24's domain has been registered only recently – another off-putting detail!
Miningtrade24 products and services
Miningtrade24 is a scam – it solicits investments from its victims under promises of incredible return rates of upwards of 15% on their deposit daily. This is clearly not something that is possible to achieve – Miningtrade24 is simply after 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.
Miningtrade24 company and regulation
Miningtrade24 is not a licensed company – it does not claim to be one either, but it's troublesome just how comfortable it is operating illegally that it does not even feel the need to fake a license.
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.
Miningtrade24 address and contacts
Miningtrade24's address – 9900 Corporate Campus Drive Louisville KY 40223 – is certainly fake, as other scammers have tried to use it in the past. The ones we have reviewed can be seen 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.
Miningtrade24 website info
Miningtrade24 is hosted on a domain that has been online since last October. This is a sign of a scam. Another such sign is the fact that the domain has too little traffic to be listed on SimilarWeb – fraudsters usually operate in obscurity. There is also the matter of the domain being hosted on the IP address 126.96.36.199 – there are 29 other domains on it, some of which scammers – the ones we have reviewed can be found below:
Miningtrade24's owners have also hidden themselves from WhoIs lookups, thus once more failing to live up to the standards of transparency we have set out above.
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.