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World Cryptocurrency International Review: is WCI a Scam or Should I Invest?
My-wci.com Review: Scam or Paying? World Cryptocurrency International claims it could make you good profits from cryptocurrency trading and mining. How true is this? You may have come across many systems on the internet promising you quick fortunes, the truth is that majority of them turn out to be scams. In this review of WCI, we provide you information based on our investigations and user experiences to help guide you make the proper decision.
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World Cryptocurrency International Scam Review: Disturbing Things Found
Most of this scam quick-profit investment schemes are HYIPs. What is a HYIP? It is a just a type of ponzi scheme. Initial investors only get paid when new people sign up and invest, what this means is that you are under pressure to bring in new investors so that you will get paid. As soon as the amount of new investor drops, the owners do away with the money invested, and the site is closed down since there is no longer enough money to pay initial investors. Those that benefit most times are the first investors. The system is not sustainable because it will surely shut down abruptly leaving your money trapped in the hands of the scammers that set it up initially.
Most of them provide a registration certificate and so-called evidence of payments. Don’t be deceived, anybody could get a sham address and certificate most especially from the Company House in UK which most of them use, for just £5. These companies claiming to be located in the UK or similar countries are not in actual sense located there.
WCI is not a legit cryptocurrency investment platform. Don’t be deceived by their promises.
Everyday we get complaints of people been scammed. Most people fall for these schemes because of the sweet promises of making huge profits within a short time. On a serious note, legit systems exists but scams are very very numerous. So you need a guide to help you make a good decision. We have made it our duty, by exposing scams.
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Swift Bit Options Review – is it scam or safe?
Trading Accounts and Conditions
|Trading account||Min. deposit||Max. leverage||Average Spread|
|ECN Prime||$500||1:200||1.7 pips+ $5 /lot|
Swift Bit Options presents itself as a MetaTrader4 broker that offers the above investment accounts for trading in forex and CFDs, as well as special accounts for investing in binary options and cryptocurrencies.
Our thorough investigation revealed that the broker offers only trading in binary options on some web-based interface. What is worse, the entire website of Swift Bit Options is cloned, including the companies’ registration numbers. You can find all the details below.
Swift Bit Options Advantages
At first glance, one might think that Swift Bit Options has a number of strong sides: the broker offers a plethora of financial products for trade on the industry’s favorite MetaTrader 4 (MT4), provides high leverage and the initial investment required is quite low. However, all the above mentioned features are actually offered by forex and binary options broker Grand Capital, and Swift Bit Options’ website is almost identical.
Swift Bit Options Disadvantages
A cloned website
The structure and design of Swift Bit Options’s website is exactly the same as the webpage of Grand Capital. Furthermore, the trading account types
and the trading specifications are absolutely the same.
Operating illegally and anonymously
What is worse, we also saw that even the registration numbers of the companies that allegedly operate Swift Bit Options are the same as those of the firms operating Grand Capital. We don’t know whether and how the two are related, but for sure no such company as Swift Bit Options Ltd registered on the Seychelles r the SVG exists. This means that Swift Bit Options operates illegally and anonymously and is most likely a scam.
Click on the images to zoom in.
Regulatory warning against it
Furthermore, we found out that the British Columbia Securities Commission (BCSC) has publicly warned the public against Swift Bit Options. According to the regulator, this broker offers trading in financial products to local investors, which require registration in BC, and Swift Bit Options is not registered to trade in, or advise on, securities or exchange contracts in the country.
Click to view larger.
Therefore, the BCSC urges investors to exercise caution when dealing with Swift Bit Options or other firms that are not registered to trade or advise in British Columbia.
Offers only binary options on an oversimplified platform
We registered a real account with Swift Bit Options in order to find out what this broker really offers, as it does not provide free demo accounts, which is actually yet another red flag regarding this broker.
It turned out that instead of the promised MT4, live account holders at Swift Bit Options are offered some unproven oversimplified web trading interface. Here is a preview:
Swift Bit Options’ web trading platform. Click on the image to zoom in.
If you trade with MT4 brokers, on the other hand, you’ll be able to use top-notch charting with wide range of indicators and even leave all the trading to automated trading bots (Expert Advisors).
Overall, Swift Bit Options it is clone without any valid license and actually operating anonymously, so its potential clients are open to a substantial risk. Most likely, if you deposit any money with this broker, you will not be able to get it back. Clone firms is a popular scam tactic in the trading world, so beware. Always check whether the brokers you wish to invest with are licensed by the respective financial authorities. Most such regulators keep registered of authorized financial services providers. This is the only way to protect yourself against investment scams.
That being said, some of the most trustworthy financial regulators are UK’s FCA, Cyprus” CySEC and Australia’s ASIC. Traders who choose to deal with a CySEC-licensed broker, for example, have the following assurances for the security of their funds: the latter are kept in segregated accounts, separately from the company’s money; if the broker becomes insolvent, the Investor Compensation Fund can cover up to EUR 20 000 in compensation; the clients` accounts are protected against negative balances.
Here is a summary of our recap of Swift Bit Options:
|Not any||A cloned website|
|Operating illegally and anonymously|
|Regulatory warning against it|
|ffers only binary options on an unproven platform|
FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.
Trading212 is a European broker with an excellent proprietary trading platform, which is now available as an iPhone app as well (we tried it out and we loved it). Trading 212’s customers enjoy fast execution a vast selection of trading instruments.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.
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