Green Dot Review: Greendot-fx.com another Shady Company

Green Dot Review
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Summary

Green Dot FX is a scam that is mainly using crypto payments. You cannot identify the recipient of funds. Additionally, any amount you deposit cannot be reversed. Watch out and refrain from dealing with crook brokers. 

Green Dot FX may have a professional feel based on how the website appears. The information available may send the wrong signals to those looking for a reliable broker. The biggest red flag is nobody oversees the activities of the company. This illegitimate scheme won’t survive a year in the market. 

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A genuine company invests in quality trading software. Their conditions will also be competitive. The broker list various products like; crypto, forex, indices, and stocks. These are lucrative products that can yield great rewards. On the other hand, You must understand the market is volatile. Therefore, losses are also part of the deal. 

Moreover, Green Dot FX is an illegitimate scheme that doesn’t offer all the listed assets. There is also no use of technology which are false claims. One thing which you should consider is the security of your money and data. Which security measures have the firm enforced? The company has an SSL certificate. This will only secure your data from hackers. 

Apart from that, the people that are behind the venture are anonymous. If they decide to exit the market, you won’t be able to get hold of them. Avoid sharing personal data with discrete entities. They are capable of stealing your identity. 

Greendot-fx.com Invest Review

Green Dot FX  is also not working with a reputable tier 1 bank. This exposes you to huge losses. Withdrawal can take forever if you are lucky. Such kinds of schemes tend to withhold customers’ funds. The scheme is also not transparent. They brag about being reputable but fail to provide performance reports. 

Knowing how the broker has been fairing in the market is essential. Otherwise, you will end up losing a mediocre trading partner. Another factor is the venture lacks client reviews. We do not know the experience of those that have tried out their services. 

Choose legitimate forex trading companies. Brokers that are reputable and deliver the best trading conditions. You will have the opportunity to grow a portfolio as you acquire better trading skills. 

Green Dot FX Trading Conditions 

Green Dot FX presents a web-based interface. The platform can only trade crypto pairs and binary options. The latter is risky products that have been banned in various jurisdictions. The risks are extensive, and you would lose all your money in the blink of an eye. 

Greendot-fx.com Invest Review, Greendot-fx.com Invest Features

These products are more like gambling products. You will need to estimate if the price will increase or decrease. Even if you make the right prediction, the scammers still find a way to manipulate the results. 

It is also ironic that Green Dot FX refers to itself as a reliable forex venture, yet there are no currency pairs. Another thing worth mentioning is the trading interface. The platform is basic. Legitimate ventures invest in reliable and advanced software. Customers can choose to either trade manually or automatically. 

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Green Dot FX  features a leverage of 1:200. However, we cannot see the same on the trading platform. Moreover, the limit is hazardous and above what the regulatory body of the USA approves. The financial bodies impose such limits to protect investors from severe losses. Another red flag is the scheme fails to feature other trading conditions. The swap, commission and spread data are missing.  

Withdrawal and Deposit 

The minimum amount you can deposit is $50. It is something in line with what other reputable companies take. Unfortunately, any amount deposited in the shady scheme will automatically lead to a vast loose. The available payment options include; Tether, Bitcoin, Litecoin, and Payeer. 

Green Dot FX is a scam that is mainly using crypto payments. You cannot identify the recipient of funds. Additionally, any amount you deposit cannot be reversed. Watch out and refrain from dealing with crook brokers. 

The broker is offering investors trading bonuses. Such lucrative opportunities are banned in Australia, European Union, and the United Kingdom. The main reason is the offshore venture, and scammers will use absurd clauses to trap funds in their system. Some platforms will even come up with hidden charges. 

Green Dot FX fails to feature the withdrawal requirement for the bonuses. There is no information on the minimum amount to withdraw. This is crucial information that should be in your fingerprint. Do not waste your time with shady companies. 

Contact Details and Customer Support 

Green Dot FX purports to be operating from Las Vegas, USA. The support is available via phone call or email. However, a platform capable of generating a random address should not be your trading partner. The reason scammers use such locations is to attract more victims. 

It will appear as if they are operating transparently while that is not the case. You should also watch out with who you share your data. Ponzi schemes request proof of address and proof of identity. These are criminals, and they can sell or use the information against you. 

Don’t you think sharing critical information with anonymous individuals is ridiculous? Once Green Dot FX is done stealing from innocent people, they will disconnect their phones. Any attempt to reach them will bare no fruits. 

The bottom line is nobody knows the venture’s area of operation or the people running the broker. This is enough reason to refrain from dealing with the venture. Choose a reliable trading partner that responds fast to customers’ queries. There are genuine entities that will treat you professionally and in a friendly manner. 

Green Dot FX Regulatory Status

If Green Dot FX were legally operating in the USA, it would be in the financial body database. Unfortunately, a quick check-in National Future Association (NFA) and Commodities Future Trading Commission (CFTC) will verify this is an illegitimate broker. No parent company or body is supervising the platform.

They can therefore do whatever they please without facing the law. This is because nobody would know the scammer’s whereabouts or who they are. Moreover, the financial body of the USA is one of the most stringent in the market. 

Their conditions are not easy to meet. Even some of the native investment firms have to seek licenses in other countries like the UK. It is, therefore, absurd that Green Dot FX would associate itself with NFA & CFTC. You cannot register a broker with them without having $20 million in capital. 

The accounts of investors must also be segregated from those of platforms. This ensures the company does not misuse the funds of investors. It also shows they can survive the volatility of the market. And in case they face bankruptcy, clients stand a chance of getting a reasonable compensation. 

Sadly, this is not the case for Green Dot FX. You would be doomed when their systems collapse. There is also no evidence that the broker is investing. They could be manipulating the figures on the trading platform. The licensed venture must report its daily transactional reports to the authority.

 It is enough assurance that clients’ funds are used for the proper purpose. You would lose more money with offshore schemes than you initially deposited. This is because there is no negative balance protection. Many benefits come with choosing the right broker. Our advice is you avoid offshore platforms that are not reputable. 

Final Verdict 

Green Dot FX is a shady company. There is nothing unique about the scheme. Many red flags make them unreliable. The safety of your money is at greater risk at the hands of anonymous people. The company is offering binary options assets. The trading interface is another big joke. The broker is not serving investors, but its greedy needs. 

Here is a list of some reliable forex trading companies to try out. These are legit brokers with ideal trading conditions. The platforms operate in full transparency. They also work with a reputable customer support team.

 

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