Venotrade.com is an Exposed Scam! MFSA, CONSOB, FI Warnings!

Venotrade.com is an Exposed Scam! MFSA, CONSOB, FI Warnings!

Caution! Venotrade is an offshore company! Your funds may be at risk.

 

Venotrade Key Features

🔴 Venotrade is an officially exposed scam. Avoid!

🔴 Venotrade has negative customers reviews. A red flag!

🔴 Venotrade is not transparent. A red flag!

🔴 Venotrade creates unrealistic expectations. A red flag!

Venotrade Products and Services

Venotrade is a fake Forex brokerage! It’s a scam! They claim to provide tight spreads, enhanced leverage and a risk-free trading environment, but it’s all a lie. In particular, Venotrade says that customers can get 1:500 leverage, but at the same time, the brokerage is presented as Maltese regulated! So, something wrong is going on there as MFSA already prohibited leverage ratios higher than 1:30!

Also, Venotrade offers an attractive bonus programme, which once again proves that the brokerage can’t be licensed in Malta – the regulator also prohibited bonuses and other trading incentives. What’s more, the so-called bonus programme is actually an MLM scheme in which traders could earn money by bringing in more customers. The scheme is as follows:

ROOKIE PROFIT:80% REFERRAL BONUS: 5% minimum: $1000 COMMISSION: 0.5%

PREMIUM PROFIT:85% REFERRAL BONUS: 10% minimum: $5000 COMMISSION: 0.75%
REGISTER

ENTERPRISE PROFIT:95% REFERRAL BONUS: 20% minimum: $50,000 COMISSION: 1.25%
REGISTER

No registered and duly licensed Forex brokerage in Malta or UK (their alleged headquarter office) should provide stupid-high leverage or bonus/referral commission like the one seen above! So, given the products and services offered, we can reasonably conclude that Venotrade is most probably a scam. And to make things even worse, the so-called brokerage makes the overall impression that the Forex market is a get-rich-quick industry, and everyone can become a millionaire literally overnight. Well, it can’t happen! Forex is risky, so everyone trying to make you think that it can provide access to easy money is misleading you. Venotrade does so!

Scams involve investments with ultra-high ROIs, get-rich-quick schemes, or guaranteed profits. Always be wary of investment possibilities that offer a large return with little or no risk — if it seems too good to be true, it most likely is, so that's potentially a scam. Also, note that during volatile times, any investment that regularly increases month after month—or that produces astonishingly stable returns independent of market conditions—should raise questions. Even low-risk investments are not entirely secure. Therefore, every time you see promises for risk-free guaranteed profits, you should remain sceptical because these people aim to create a false sense of security. Beware!

Venotrade Company and Regulation

Company:Venotrade
Country:The United Kingdom
Regulation:None
Warnings:MFSA Malta, CONSOB Italy, FI Estonia

Venotrade claims to be a UK based company that spent the past three years trying to make VENOTRADE LIMITED into one of the most advanced players in the field of Bitcoin & Forex Trading. They allegedly succeeded to support multiple Trading instruments (futures, bitcoins, forex, stocks, and options). Venotrade also claims to have a license in Malta, but that’s not true!

Another thing Venotrade is proud of is their robot. Namely, their advanced trading robots are made by an in-house programming team, while the in-house backtesting and strategy developers focus on a dynamic trading environment. And they carry on saying that their state-of-the-art AutoTrade bot Technology (ATBT) is one of the most powerful trading robots for automated trading. Well, it’s not true! Their so-called robot is a trap and just another piece of the whole fraudulent scheme.

In truth, Venotrade is an exposed scam blacklisted by the Maltese regulator MFSA! The warning issued by the authority states that Venotrade:

“…claims to “have built the world’s leading platform for digital currency integration for investment and trading” and is also using a falsely drawn MFSA licence document, purporting to be a Category 3 Investment Services Licence Holder.

The MFSA wishes to alert the public, in Malta and abroad, that this entity is NOT a Maltese registered Company NOR licensed or otherwise authorised by the MFSA to provide the service of an exchange or other financial services, which are required to be licensed or otherwise authorised under Maltese law. Furthermore, information available to the MFSA suggests that Venotrade is likely to be a scheme of dubious nature with a high risk of loss of money. The public should therefore refrain from undertaking any business or transactions with the above-mentioned entity.” You can see the warning below:

Almost all regulators frequently update their warning lists with shady business entities selling financial products and services without authorization. In other words, all these companies are breaching financial rules and regulations; therefore, they are unsafe and, most usually, scams. Needless to say, you should avoid any company with a warning on its name.

The US regulators are no exception. For example, SEC has its PAUSE list, including business entities falsely claiming to be registered, licensed, or located in the States. The PAUSE Program also lists impersonators, fictitious regulators, governmental agencies, or international organizations- scams, in other words. Additionally, CFTC maintains a RED list (Registration Deficient List) containing names of unauthorized foreign entities that appear to be acting in a way that requires registration with the CFTC. However, the RED list inclusion doesn't necessarily mean that the particular entity has been caught in violation, but you'd better remain cautious.

The bottom line is that you should avoid any investment scheme with a warning on its name, and generally, any firm that's not regulated but offers financial services.

Venotrade Address and Contacts

Address:5th Floor, Hyde Park Hayes 3, 11 Millington Road, Hayes, UB3 4AZ
Phone number:None
E-mail:[email protected]

Venotrade’s address is fake – the so-called broker was never headquartered at the location you see above! They lie about it to create a false sense of security with an address in London – a place where the offices are held by the most powerful companies in the world. On the other hand, though, Venotrade’s actual location remains unknown, meaning that we should note the lack of transparency, which is always a red flag! Eventually, the only piece of contact information available in the e-mail that’s unverifiable nonetheless!

For investments, transparency is essential since you should know who is managing your money and where it actually is. Legitimate businesses always operate in a transparent manner, and they are required by law to disclose their headquarter address, phone numbers, and all legal documents that detail the provisions of the service. And our experience tells that if you can't reach these people over the phone number provided, can't verify the locations, or can't confirm in any other way that the investment provider is authorized to sell financial goods, then that's most likely a fraud. So, regardless of the warning issued, we can guess there is something wrong with the investment scheme in question.

Is Venotrade Safe?

Venotrade is not safe! It’s a scam exposed by numerous financial regulators, including the Maltese MFSA, the Italian CONSOB and the Estonian FI. Brokers with warnings on their names should always be avoided as these are scam schemes created by fraudsters to steal money from unfortunate people.

Scam Warning

For various reasons, dealing with unregulated investment platforms is always a terrible idea. Above all, the lack of regulation strongly signals that something fishy is going on there, as only licensed companies can provide investment services. As you might expect, scams can't thrive in a robust regulatory environment, so consider twice before depositing with unlicensed investment providers.

A scam or a fraud is any crooked scheme devised to defraud you out of money or steal your personal information, and every scam setting is practically unregulated. Scammers work with hackers, too, and often buy bulky packages of information, including phone numbers, e-mails, social media profiles and other personal details of customers, which greatly facilitate scams. So, if someone contacts you out of a sudden, you'd better always consider the possibility that it could be a scam.

Scammers target many people and constantly evolve their approach making scams harder to recognise. In particular, the crypto scam is now booming for two particular reasons- lack of knowledge and popularity. There is a third one, too- scammers take advantage of the less regulated environment to lure people into crooked scam settings that have nothing to do with crypto at all. In any case, it's getting harder to spot potential fraud, but warnings issued by regulators help to raise awareness, and you'd be much better off if you always research thoroughly before any investments have occurred. Markets are plagued by scammers, and it's for real.

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1 Comment

  1. Approximately 2. 20. 22 I contacted a supposed trader named Harrison Levi, who was recommended in an NFT group on Facebook. Levi said that he would give me his predictions for various markets for trading in a 1 to 5 minute time frame. I was then to plug them into a trading platform called VENOTRADE. He would charge 15 % for this. I decided to try it. He convinced me to send $1000 worth of Bitcoin in to try it out. Of course, the results were fantastic and I was convinced to send more money. I eventually sent in about $26,000 worth of Bitcoin from Kraken, Coinbase and Crypto.com. I worked with Levi until my profits were $193,600. When I went to withdraw it, PAS Capital sent me a letter asking for $22,263, which was 11.5% of my profits of $193,600. This was to pay for a “withdrawal certificate” and a “brokers license.” It was then that I realized that this was a classic advance fee scam and that PAS Capital and Levi were working together. Nevertheless, I was convinced by Levi to pay half of the $22,263 because he said he would be “generous” and split it with me. Of course, as soon as I paid it they had another fee to pay. At this point, after exhausting most of my savings, I finally refused to pay, but I had already sent $11,000 to them for the withdrawal certificate. Luckily I saw a recovery company, assetsrepo, com they were able to follow some of the blockchain and have been able to recover $25,000 for me so far. People should be careful and stay away from them.

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