Minitext Key Facts
🔴 Minitext offers questionable bitcoin related investment opportunities – a clear sign of a scam!
🔴 Minitext provides fake contact information – beware!
🔴 Minitext lacks the appropriate license for the provision of its services – a huge red flag!
🔴 Minitext domain has been registered extremely recently – another off-putting detail!
Minitext products and services
Minitext is yet another scam company that promises incredibly high returns on investments – the most modest claim it makes is to be able to achieve 20% income on any deposit. This is clearly impossible and Minitext is clearly 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.
Minitext company and regulation
Minitext is not a licensed company – as much as it likes to pretend that to be true, Minitext does not have the appropriate license to operate in the UK – that would be an FCA license. What it presents is a certificate of incorporation in the Companies House UK, which proves nothing.
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.
Minitext address and contacts
Minitext has provided us with the following address line: 20 Sumner Road London England SE15 6LA. However, we have found it to be the home of other scammers:
| Minitext | Power-trade.co |
The phone number it has provided us with ( +447426058049) is also most likely a forgery – numbers can be generated with specialized software by the hundreds. Without a license from the FCA we do not believe that Minitext operates from the UK.
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.
Minitext website info
Minitext operates on an extremely recent website – one created in November last year. What this means is that the company is not as accomplished as it claims to be.
What's worse, Minitext operates on an IP address from the States that is well known to us – 23.254.131.198. It co-hosts three other scam companies, the links to the reviews of which can be seen below.
| Novalasset | Minitext |
| Cryptostarltd | Tradingbeama |
Minitext also operates on a website that is staggeringly unpopular – one that does not even appear on SimilarWeb, which is another red flag entirely.
And finally, the owners of the website have decided to obscure themselves from WhoIs lookups, which is not an uncommon policy by any means, but it does mean that Minitext fails to live up to the standards of transparency outlined above.
Scam warning
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.