Read this review to see why EliteForexTrade and its long list of clones is a scam investment program made to rip you off. It is a very dangerous fraud.
What is Elite Forex Trade
EliteForexTrade is presented as an investment platform focused on blockchain technologies (cryptocurrencies). The platform will allow you to exchange different currencies, but the most important feature is the investment plans. There are four of them.
But the presentation of the EliteForexTrade investment plans is confusing, because it does not say what time frame applies to the return on investment rates.
Already the Starter plan is supposed to multiply your invested amount 9 times, but they don’t say how long it will take. The minimum investment amount is 300 USD.
EliteForexTrade claims to be regulated in the US by the CFTC, in Belize by the IFSC and in Cyprus by the CySEC. Which would make it a legit company. But is it true?
Elite Forex Trade is in reality a scam that has only one purpose, namely to steal money from people. It is full of lies and no real trading activity is done by this fraudulent program.
We found a lot of Elite Forex Trade clones, websites that look the same and offer the same services, these are all the same scam: Global Mining Apex, Crypto IP Trading, Quick Bitcoin Trade, Legit Crypto Mining, Cryptrace 247, Star Crypto Option, Star FX Crypto, Prime BTC Trade, FX Trade Zone, Crystal Expert Trade, Legal FX BTC Sure Trade, Global Coin Mining, Legitimate Bitcoin, BlockFX Trade, Cryptobase Option, Bitrexoptions, Star Crypto FX, Crypto Kraken Option, Bestradex, Crypto Expert Option, Invest Crypto FX Trading, Apexchain Bitcoin Mining, Comfort Earning, Tradefstock (TFS), Ligit Bitcoin Trade (LBT), Betacoins, Legit Crypto FX, My Crypto World PLC, Cryptobinance Option, Universal Bitcoin Trade, Safeindex Trade, CryptoIQ Option, First Bitcoin Global Trade, Excel Capital Cryptocurrency Investment, Stock Trade FX, Options Bitcoin Expert Mining, Vast Options, FXcoin Trades, Trust Bitcoin Mining, Fina Investment, Prime Forex Trade.
See the proof below.
The most blatant lie of Elite Forex Trade is that it is regulated in three different countries, because it is not.
In fact, EliteForexTrade is not regulated anywhere, not a single financial regulator has issued any license to this company.
Even more striking is the fact that the company is not based in the United States, the address that it provides on its own official website is fake.
So not only it is lying about its regulatory status, but also about its address. The real owners of Elite Forex Trade who run this program remains unknown.
All these facts make this program a total scam that is best avoided.
About the investment plans
As we have already mentioned in our introduction about EliteForexTrade, it’s investment plans are confusing because time frames are missing.
But despite the lack of basic information we can still claim that the investment plans are completely fake. Because even if the return on investment rates applie to one year, it is too much for any legit business.
No real investment company can multiply your money 9 times in one year, let alone in one month, week or less. To be more precise, with some big risks you can achieve this ROI once in a year, but certainly not regularly.
So, the investment plans of Elite Forex Trade alone are a proof that this investment platform is a total scam.
How Elite Forex Trade works in reality
Elite Forex Trade and its clones are a scam that might have started as a Ponzi scheme. It means that in the beginning it might have been paying its members. But money from new deposits would be used for that purpose in that case.
Because this company is not doing any real investing, or any real economic activity for that matter. It is just a scam.
We a have a confirmation that at present EliteForex Trade and its clones are not paying, meaning that all deposits made with this program are lost. The program is accepting deposits only in methods that cannot be reversed, so they make every attempt to recover any money virtually impossible.
You have to make sure that you stay away from Elite Forex Trade because it is a total scam, a black hole where all the money disappears forever.
All these programs works the same, they all are the same scam:
- Apexchain Bitcoin Mining
- BlockFX Trade
- Comfort Earning
- Crypto Expert Option
- Crypto IP Trading
- Crypto Kraken Option
- Cryptobase Option
- Cryptobinance Option
- CryptoIQ Option
- Cryptrace 247
- Crystal Expert Trade
- Excel Capital Cryptocurrency Investment
- Fina Investment
- First Bitcoin Global Trade
- FX Trade Zone
- FXcoin Trades
- Global Coin Mining
- Global Mining Apex
- Invest Crypto FX Trading
- Legal FX BTC Sure Trade
- Legit Crypto FX
- Legit Crypto Mining
- Legitimate Bitcoin
- Ligit Bitcoin Trade (LBT)
- My Crypto World PLC
- Options Bitcoin Expert Mining
- Prime BTC Trade
- Prime Forex Trade
- Quick Bitcoin Trade
- Safeindex Trade
- Star Crypto FX
- Star Crypto Option
- Star FX Crypto
- Stock Trade FX
- Tradefstock (TFS)
- Trust Bitcoin Mining
- Universal Bitcoin Trade
- Vast Options
Elite Forex Trade review – Conclusion
EliteForexTrade is a scam, we have proved that in this review. The program is not regulated and it is not paying. Be sure to avoid it!
If you are into legit investing, you can try it on a free demo with a regulated broker. You will get virtual money to test everything out without risking your own cash.
Should you decide to start investing real money, please be sure to understand the risks and to be properly prepared.