Forex Cointrade (Forex-Cointrade.com)
Forex Trading Platform
Is Forex Cointrade Fake or Real?
Why Is Forex Cointrade Fake?
Forex Cointrade is a website that claims to be a platform for ‘secure investments’. The website name implies that the company is investing in Forex and Bitcoin. It should be noted that forex trading and bitcoin trading are completely different investment methods. The company offers returns such as 300% in 1 day that are highly-unrealistic. This suggests that Forex Cointrade may be a Ponzi scheme.
A domain name lookup of the website shows that it was registered on 8th November 2019. The registrant’s details such as name, location and contact details have been hidden for privacy.
Though the website is less than a year old, the company claims that it has been running for 3,930 days ie. 10 years 9 months. This is clearly a lie as the domain name was only registered in November 2019.
The website content and design are not original. There are 45 websites using the same content. Some are even using the exact same layout, with the website name and logo being the only differences.
Forex Cointrade claims to be a registered company in the UK. However, no registration number has been provided to verify this claim. Therefore, this seems to be another lie. In any case, there are several companies registered in the UK as shell companies for money laundering. As a result, companies registered in the UK are not automatically credible.
Forex Cointrade has a referral program where investors can earn a 5% commission on the deposits of their referrals. This strengthens the suspicion that it is a Ponzi scheme.
There are some Video Testimonial links given on the home page that are fake. These thumbnails do not open up real testimonials. Instead, they lead to a pop-up that shows a 2011 video explaining Bitcoin. The dates on these testimonials are from before the website was even active. The same thumbnails are also being used by several other investment scam websites.
There are some social media icons for Telegram, Youtube and VK. These are dummy links that lead nowhere, meaning Forex Cointrade has no social media presence.
The contact details given on the website are a UK address and email IDs. The email addresses were found to be working when tested using VerifyEmailAddress. The address, however, is incomplete as only the building name has been given. Therefore, it could easily be a fake address. No phone number has been provided. No reviews for Forex Cointrade could be found.
It seems quite obvious that Forex Cointrade is a scam. Returns such as 300% in 1 day are not realistic and only possible in a Ponzi scheme. The company gives a 5% referral commission on deposits of referrals, which strengthens this belief.
The website claims to be running for almost 11 years even though the domain name was registered less than a year ago. The website says that Forex Cointrade is registered in the UK, but no registration number has been provided. Therefore, this claim is likely to be fake.
The website is not original as there are 45 websites using the same content. In some cases, such as Vex-Coin, the entire website is the same except for the name and logo. The website also has fake thumbnails of non-existent testimonial videos that carry dates of before the website was even created. The social media icons on the website do not work either.
The only way to contact the company is by email. There is a UK address given on the website that is incomplete and likely to be fake. It is advisable to avoid investing with Forex Cointrade, as it does not seem to be a legitimate investment company.
List of websites using the same content and design as Forex Cointrade:
Remember: If something seems too good to be true, it probably is.
If you have been a victim of an investment scam, you can take the following steps:
- File a complaint with the payment portal. However, investment scammers mostly use methods such as Bitcoin, Western Union, MoneyGram and other untraceable methods which make refunds impossible.
- File a formal police complaint with the Cybercrime department.
- Leave a negative review on review portals such as ScamAdvisor and TrustPilot
- Report the website to Google using the Suspicious Site Reporter extension for Chrome
- Give a low rating to the website on Web of Trust. You can also install their extension for the same.
- If the company has a listing on Google My Business or Google Maps, file a complaint using the Business Redressal Complaint Form. Also, leave a negative review explaining what kind of experience you had.
Disclaimer: The views expressed in this article are presented as an educated opinion based on facts and evidence. There is no malicious intent or attempt to defame any individual/s or organization/s. If you are a website owner and would like to provide clarifications regarding your business and/or website, please get in touch on email@example.com