FXLegalTrade Review: Fxlegaltrade.com an Old Scam

FXLegalTrade is a company that is allegedly trading cryptocurrency, forex, indices, and commodities. They claim that they are the digital trading partner that investors need to succeed in the volatile market. The online investment venture continues to expand, and more and more traders are joining the market.

There is great competition, and every platform tries to outshine the other in offering the best services. It is no shock that multiple scammers have invaded the market. They try to persuade traders into signing up with them using false information.

FXLegalTrade is a company that lacks a trading history. They brag about having over 3,500 partners. The companies collaborating with them are nowhere to be seen, and we suppose this is another false allegation.

The entity offers a fat commission of 20% to everyone who invites a new member into their scheme. This is enough to prove that this is a pyramid scheme. If you believe their narrative, you will suffer great losses. There is no legit venture that will pay you such high affiliate for just inviting new members.

The only people that can benefit from this company are the marketers and founders of the scheme. Investors will bleed out of money in the hope of becoming rich overnight. If you care about your safety, refrain from dealing with the company.

You can try out some of the best cryptocurrency trading companies that are reputable in the industry. Multiple investors attest they have earned passive income with the entities. However, do not have the mindset of getting rich quick as every investment requires patience and skills to see results.

Fxlegaltrade.com Review

Instead of optimising their space and showing investors the benefits they shall be getting by investing with FXLegalTrade. The company is featuring fluff content. This does not help in shedding light on their business. Anyone can quickly research on the internet on BTC history and how to acquire the coins.

The venture is an investment firm, and they should act like it. Potential clients need to avail the necessary information, deposit funds, and start generating returns. The process is straightforward.

FXLegalTrade allegedly does not faces losses. The only thing that the venture guarantees are high profits. Cryptocurrency trading is an activity that experiences high volatility. Therefore, it is impossible to predict your next income.

Moreover, the company allegedly enforces tough security measures to protect the investment of traders. The firm safe keep cryptos in cold storage. However, it would help if you did not believe their words without having enough evidence.

Suppose traders lose, then the company gains. The domain name of the venture is one year old. However, there is no report of investment services, and the traffic is also wanting.

Trading Conditions and Returns

FXLegalTrade is a shady entity that guarantees leverage of 100. Traders can execute the trade at lightning speed. The scheme also guarantees a tight spread to investors. The company insinuates that it trades forex but fails to provide adequate proof.

For instance, they do not reveal the available trading platform. Leaving out such critical information does not create confidence in investors. The SSL certificate of this venture is not enough to protect your funds. The venture is linked to Prime Technologies Ltd and Legalcoinfxtrade mining trading services. These are offshore firms.

The venture promises a daily profit of 15%, which is absurd. The company states it has low fees for traders. If you do the maths, you will realize the firm is advertising an affiliate commission of $10Kevery month, which is also unheard of if you encounter people promoting the scam. They only want to get funds.

Unfortunately, the offer of this venture seems too good to be true. Therefore, walk away from them to avoid experiencing tremendous losses. There are genuine brokers you can utilize.

FXLegalTrade Withdrawal and Deposits

The entity has five investment accounts that are exaggerated. The minimum amount that you can deposit is $300. You will receive daily analysis, regular webinars, and emails alerts. We do not recommend investing with the scheme as all payments are made via cryptocurrency.

Getting your money from the system is going to be a bumpy ride. Moreover, we are yet to see a successful trader that has earned using this scheme. We recommend that you trade wisely.

Contact Details and Customer Support

Investors can contact the entity via Telegram, Facebook, Twitter, Medium, and Reddit. Unfortunately, all the links leading to the social media platforms are broken. The entity is plagiarising content from different sources.

The office address of the firm indicates they are operating from the United Kingdom. We also encountered information showing the venture is from Nigeria. It is not a surprise FXLegalTrade to be using a fake address.

The phone number available will certainly not go through when you try to contact them. The firm being in the market for a year does not guarantee they got your back.

Regulation Status of FXLegalTrade

This scheme claim it is conducting its business from the USA. However, they are not in the regulatory form of SEC or NFA. The country is very strict with investment schemes.  Investors should avoid nasty schemes and deal only with the licensing scheme.

FXLegalTrade is not qualified to be collecting funds from any country on the planet. The venture is ignorant about the law, and it fails to disclose its regulatory status. Investing with a regulated platform grants you peace of mind.

Your money is also secure, as well as your personal data. Offshore entities tend to exit the industry after realizing no more people is signing up for their services. You cannot go after them as they are anonymous.

FXLegalTrade False Testimonials

The company is using stock images, an old trick that con artists pull out on naive investors. The information is praising the firm for being profitable. We could not spot even single negative feedback, which indicates this is a marketing strategy.

The figures that clients purport to make within a week are surprising and ridiculous. One claim to have generated $4000 in just a week.  Individuals are clearing their debts in a matter of days. Some claim to have quit their work.

FXLegalTrade is very poor in picking their words and images. One of their stock images is from the first lady of Botswana. Many people may not know this, but it is worth noting that the venture is prone to manipulation and using pictures of people without their knowledge.

The fictitious character behind this entity is Franklyn Onoaghakpote. Other several platforms are likely to be run by him. These are payfastcrypto, fxlegaltradecoins, fxlegalcoinstrrade, legalcryptofxmining, and expertfxbitming.

Final Verdict

FXLegalTrade is a scam that is contacting trades from out of the blues. Their main victims are social media users, and they are pretty convincing. One client claim that the marketers contacted him and asked him t deposit $300.

After few days, they claimed he had earned $5200. The venture urged that for him to cash out, he had to upgrade his account with $950, and that was when he noticed something was off.

Invest with legit cryptocurrency trading companies that are legit. The best companies in the market will never defraud you. They will take care of your investment and help you grow your portfolio.

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