Caution! Poloniextrade is an offshore company! Your funds may be at risk.
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Poloniextrade Key Features
🔴 Poloniextrade’s services are questionable – a warning sign!
🔴 Poloniextrade isn’t licensed – a red flag!
🔴 Poloniextrade isn’t transparent – a red flag!
🔴 Poloniextrade creates unrealistic expectations – a red flag!
Poloniextrade Products and Services
Poloniextrade is allegedly a crypto broker, but the entity is far more than just suspicious. We claim so for several reasons, the first of which is the requirement to unlock the demo trading feature – as seen from the screenshot above, trading with virtual money (Demo trading) is only allowed if customers have already deposited more than $50000! That’s unheard of! Any trustworthy brokerage, be it crypto or not, should always provide virtual money trading as it allows customers to assess the risks involved and later make an informed decision. The lack of Demo accounts is a major red flag!
Another reason is the false sense of security created. Namely, as seen from the picture at the bottom of this section, Poloniextrade claims to provide cryptocurrency trading with zero risks involved! Needless to say, cryptocurrencies are highly volatile and unpredictable, so telling customers that there aren’t any risks involved certainly suggests a scam – fraudsters always downplay risks while aiming to gain confidence among their victims. The false sense is yet another major red flag.
Thirdly, and lastly, Poloniextrade claims that there are guaranteed profits customers can make if they invest in it. So, at the end of the day, Poloniextrade seems more like an HYIP programme offering get-rich-quick schemes, which gives us yet another reason to think it’s a scam! Beware of it!
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.
Poloniextrade Company and Regulation
Poloniextrade fails to provide trustworthy corporate information, and after our research, we strongly suspect it’s illegal as no companies are found to be associated with the scheme reviewed. However, we should draw your attention to the fact that there is a legit crypto exchange, which is not particularly popular but still trusted by many – Poloniex Trade. So, given the similarity between the names and the services offered, we may also suggest that Poloniextrade is a clone firm. Whatever the case, though, Poloniextrade is proven anonymous and unlicensed, so make sure to avoid it, or you’ll risk exposing money to substantial risks.
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.
Poloniextrade Address and Contacts
| Address: | 250 N 71ST AVE HOLLYWOOD, FL 33024 |
| Phone number: | +13322416678 |
| E-mail: | [email protected] |
Poloniextrade’s contact information is unverifiable, which prompts us to raise yet another red flag because of the transparency deficit. These people apparently provide false information so as to conceal their actual location and contact numbers, which indeed further suggests a scam!
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.
Poloniextrade.com Website Info
| SimilarWeb Ranking | None at the time of writing |
| IP | 5.181.218.149 |
| Server Country | USA |
| WHOIS Reg. Date | 2021-11-04 |
| Registrar | Hostinger, UAB |
| SSL certificate | Valid |
| Owner | Name: Benson Slightmann Street: 124 Fleming Island FL NY US 32006 32006 Florida NY Country: US Telephone: +1.8043523423 E-mail: [email protected] |
| Administrator | Name: Benson Slightmann Street: 124 Fleming Island FL NY US 32006 32006 Florida NY Country: US Telephone: +1.8043523423 E-mail: [email protected] |
Is Poloniextrade Safe?
Poloniextrade is not safe! It’s offering controversial crypto trading services that appear to be fraudulent! In addition, the so-called broker is anonymous and unlicensed, which is more than enough for you to stay away! Think about it, if something wrong happens, they won’t bear any responsibility for the financial damage inflicted, and there will be no one to blame for the misdeed! You’d better stay away!
Scam Warning
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.