Fxtradingmining Scam – Is FX Trading Mining Legitimate?

Read our FX Trading Mining review to see if this crypto platform is a scam or legit. Just to clear doubts, this is an fxtradingmining.com review.

fx trading mining scamWith people rushing towards the cryptocurrency market in droves, they have also become a hotspot for cybercriminals who are constantly trying to take advantage of them. Setting up fraudulent platforms and brokerages is one of the top strategies of these cybercriminals, which means you have to be extremely careful when shopping for one. It is immensely easy to fall into their traps because they are very convincing and deliberately present a professional front that can be tough to resist. Only when you look beneath the surface does the truth come out. You will find the same in this Fxtradingmining review when you take a closer look at this platform.

Since there is a lot of hype surrounding cryptocurrencies, many new platforms have been established and Fxtradingmining is one of them. It has presented itself as a platform that gives traders access to cryptocurrencies that they can trade instantly. Those who are interested in digital currencies would immediately be intrigued with their offerings, but you have to be careful and not fall for their claims of easy profits. Why? The following review shows just why this broker cannot be relied upon. Let’s find out:

Anonymous platform

When your hard-earned money is involved, you don’t want to trust just anyone with the funds. You need to know exactly who you are dealing with, but unfortunately, you will not find an answer about Fxtradingmining in this case. This is because there is no clear information as to who you are dealing with. If you want to know about the legal entity behind the website, you will come across two different names mentioned in the Terms and Conditions and Privacy Policy.

These are ‘Fxtradingmining Inc.’ and ‘Fxtradingmining Limited’. This can create confusion. As far as the location of Fxtradingmining is concerned, the only clue they mention is about their commitment to the UK Data Protection Act 1998. You will not find an address on their website, or even a phone number. Only an email address is provided, which doesn’t account for much.

Blacklisted by the FCA

As mentioned above, the only hint about Fxtradingmining is the United Kingdom, but to be able to operate there, the company would need a license from the Financial Conduct Authority (FCA). This is the regulatory body in the UK that issues licenses and regulates brokers. You will discover that they have actually issued a warning against Fxtradingmining because it is offering its services illegally to people in the region. This is all the confirmation you need about the platform being a scam. No legitimate platform would ever make this mistake because a warning from a regulator can be disastrous for their reputation.

No trading software

The most crucial feature that a broker offers to traders is their trading software, but Fxtradingmining is not even offering that. They have no trading software available, which is further confirmation that they are not a real broker at all. You will only find a chart on their website that shows the current price of Bitcoin and there is no trading functionality available.

Inconsistencies on the platform

When you take a look at the investment plans that Fxtradingmining is offering, you will notice that there are four plans available, which are described as Starter, Silver, Gold and Platinum and they have a minimum deposit of $50. In contrast, there are three different plans mentioned in the FAQ section, which are Basic, Premium and Ultimate and they ask for a minimum deposit of $250.

In addition, these accounts don’t mention any trading conditions like spread and leverage. Instead, you will find Fxtradingmining promising extremely high profits on an hourly basis, which they claim are generated through speculation. The truth is that when it comes to a market as volatile as cryptocurrencies, no amount of speculation can generate such returns.

The Verdict

Taking these problems into account, it is apparent that Fxtradingmining is not a legitimate cryptocurrency broker.

Leave a Comment