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Another crypto and forex investment scam, CoralTradeLimited, is blocking withdrawals. Here’s more in our exclusive coraltradelimited.com review.
Coral Trade Limited or CoralTradeLimited (coraltradelimited.com) is in complete chaos. The platform is not responding to emails from members. It seems the platform blocks withdrawals and later deletes login credentials. And that puts your investment at risk once you sign up and deposit with the platform. Hundreds of investors have lost funds with the platform. We are here to expose it and protect our ardent readers. Here’s what you need to know in our clear CORALTRADELIMITED REVIEW.
A Brief Analysis of CoralTradeLimited
According to the homepage, life is better when you have a purpose. CoralTradeLimited claims to be the perfect way to help better your life. These are some of the platform’s sales tactics to entice naïve investors.
Coral Trade Limited is not a trading platform but a forex investment platform. It’s still not clear what the platform offers investors. We know that investors end up ruing the decision to sign up.
There are hundreds of complaints that have hit our help desk. The platform claims to offer unimaginable investment opportunities. We are here to expose the scam and blacklist it. But, first, regulators will have to shut it down.
Note: When investing in the crypto space, you need to have the right trading tools. And that means using credible crypto trading robots backed by experts. These robots offer investors a much-needed boost when trading.
Coral Trade Limited is not your cup of tea when it comes to investing. Despite having an appealing website, the platform is a complete scam. Unfortunately, no one sees it more than the victims who fell for it.
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Promises of guaranteed daily returns, these promises are what drove investors to sign up. As an investor, you need to make real investment decisions. Some of these platforms are mere get-rich-quick schemes.
Experts recommend doing due diligence before signing up with any platform. Try and find out the experiences of other users with the platform. It will help you make the right decision. Also, try and avoid platforms that exaggerate the payout amounts.
CoralTradeLimited offers three account types to investors who sign up. These include Basic, Premium, and Advanced. Unfortunately, these accounts have one thing in common, a bloated profit guarantee statement.
Here’s a closer look at each of these accounts;
You have to deposit a minimum of $50 to get started with the most basic account. The account promises a daily return of 3 percent. You can deposit a maximum of $6,999 for a vesting period of seven days.
There’s a minimum acceptable deposit of $7,000 and a maximum of $19,999. You get a promise of making 4 percent daily ROI for a vesting period of seven days. There’s no quote on withdrawal limits.
Painted as the best account, investors must deposit a minimum of $20,000. There’s no maximum as the account also targets institutional investors. You get a promise of making 6 percent guaranteed daily returns.
All of these accounts are lying to investors. No expert or robot can manage to achieve such a high ROI. Moreover, all these promises don’t materialize at the end of the vesting period. There’s no such thing as a guarantee when investing in the markets.
The markets are volatile, and prices drop and increase without giving warning. So making assumptions that you will profit with every trade is not realistic. And that’s why we know these accounts are traps.
There’s also the issue of the vesting period. Coraltradelimited.com offers a limited vesting period of seven days. The minimum vesting period is three to four months in a normal and legit crypto investment platform.
You also don’t get to test the platform’s accuracy with a demo account. A demo account helps set things straight. The platform fails to offer one because members will spot the problem. Making such guarantees is fooling naïve investors.
Account opening process
Most investors don’t think much about the account opening process. With such platforms, you have to think twice. We attempted to open an account and see what happens during the process.
It seems like a normal account opening as members fill in the required details. However, after opening an account, the platform will wait for you to hit the withdraw button. That’s when the platform requires verification.
At this point, the platform knows you will try and do anything to withdraw funds. And thus, insist on members sending vital documents. These documents include a copy of your ID, bank statements, and credit card information.
We don’t understand why the platform would ask for such details. There are other ways of verifying accounts, such as a two-factor authentication process. We suspect the platform wants to sell your information to third parties.
Coral Trade Limited is listed as the parent company owning the platform. However, there’s no indication of who owns or runs the platform. We couldn’t find any registration documents on the website. It seems the company is not regulated.
And that makes CoralTradeLimited an anonymous investment platform. The problem with anonymous investment platforms is that due diligence is not possible. You can’t also recover funds from an unknown platform.
Hiring recovery agents won’t do the trick. These agents are part of the problem. Despite claiming to recover funds, these agents don’t do anything. Plus, these agents don’t have the mandate to freeze bank accounts.
The agents are the final nail in your coffin as there’s no way to recover funds. It’s likely the owners hold funds in offshore accounts. Only a court order or regulators can freeze bank accounts belonging to the platform.
Client testimony and reviews
No positive review is available on the web. And this tells you what to expect with the platform. Without a positive review, it means the platform was not well received. But unfortunately, there’s no positive mention of the platform anywhere on social media platforms.
Compliance, License, and Registration CoralTradeLimited
CoralTradeLimited is not compliant and doesn’t hold any investing or trading license. Furthermore, no regulator gave the platform the green light to start operations. And that proves the platform is unregulated and doesn’t follow the rules.
Make sure to check with regulators and confirm whether a platform passes compliance. Without a regulatory framework in place, the platform may instill harsh conditions. And that’s what you need to avoid.
Check with reputable regulators such as ASIC, BaFIN, CFTC, CNMV, CONSOB, CySEC, and the FCA. Other known regulators include FINMA, NFA, and the SEC. These regulators work to ensure everyone follows the rules and regulations.
Daily payout claims coraltradelimited.com
There are no daily payouts despite the allure of such on the platform. As a result, the platform fails to meet its promise of delivering payments to clients. Hundreds of investors have lost funds waiting for the platform to release funds.
Deposit and fund safety CoralTradeLimited
Don’t expect any fund protection from the platform. There’s no segregation of accounts as dictated by law. The platform also fails to offer insurance cover for deposits made by clients. There’s no DDoS protection or SSL encryption to protect members from third-party attacks.
CORALTRADELIMITED IS A SCAM!!!
PS: Use the best crypto investment tools to help you make better trading decisions.
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