PredCoin: company reviews in 2022
Features of PredCoin
There are often cases when fraudulent brokers hide information about their activities to conduct specific work with potential clients in person. In addition, there are risks that their website may be blocked by regulators and control authorities. In such cases, scammers simply create a new website, offering registration to visitors. An example of such a situation is the company PredCoin. In this review, we will examine what this scam project is and what reviews are available about it in the online space.
Insights about PredCoin
The website predcoin.org is simply a dummy site with no information about the brokerage company. Here, only a registration form and fields for entering login and password are presented. However, from the company name, we learned about the existence of an additional website – predcoin.com, which is open to the public and contains interesting information.
PredCoin positions itself as an advanced and successful brokerage platform operating since 2019. According to their claims, the trading volume on the platform exceeds $150 million, with approximately 347 thousand deals executed. The company states that more than 37,000 investors are collaborating with them.
Although there are plenty of reviews about PredCoin, they have started appearing relatively recently, and most of them are negative. This is not surprising given the deceitful tactics employed by the fraudulent broker. Firstly, the company lies about its many years of experience, while their website predcoin.org was launched in September 2022. Additionally, the second website of this fraudulent company has only been in existence for a few months.
Legitimacy of PredCoin
The PredCoin website states that the company operates under the supervision of authoritative regulators from various jurisdictions (Cyprus, the UK, Belize, Australia, Mauritius, and others), although no documents confirming this are presented on the platform. However, in the footer, there is information about licenses issued by:
- FCA,
- FSC Mauritius,
- IFSC.
Scammers clearly hope that potential victims will take them at their word and not verify the provided information. They are well aware that the data of these regulators are publicly available, so everyone can independently obtain the necessary information. Our verification of the data provided by PredCoin only confirmed that this is a financial fraudster. Below, you can see the results of license verification in the FCA database.
Based on the reviews, the fraudulent organization completely avoids financial responsibility, and clients cannot rely on assistance from regulators. The Central Bank of the Russian Federation warns of the danger and adds PredCoin to the blacklist, pointing out all monitored domains.
Company’s Earning Methods
PredCoin offers convenient trading using over 230 financial instruments, including currencies (major and digital), indices, precious metals, stocks, commodities. The fraudulent broker boasted its own trading terminal, although real clients express dissatisfaction with this platform. They claim that the company uses it to mimic trades.
No functionality testing on a demo account is provided – scammers do not offer the opportunity to test the service risk-free. Clients will have to choose from the three available plans:
- Starter. Deposit from $150. Clients of this plan are offered a 1:100 leverage and execution of trades without slippage. This should suffice,
- Amateur. Requiring a minimum deposit of $1,000 to open this tariff. Buyers are provided with 1:500 leverage, insurance, access to precious metals and digital currencies,
- Professional. Access to this premium plan is granted with an account top-up of at least $10,000. It differs from the previous plan with round-the-clock support and deposit protection against negative balance.
Information on deposit and withdrawal conditions on the platform is not available. Clients cannot learn about commissions, payment methods, and withdrawal times. Former PredCoin clients emphasize that the company does not fulfill its obligations and does not process withdrawals.
Customer Reviews
PredCoin created several domains in an attempt to evade the law, but they did not go unnoticed. There are enough reviews in the Russian-speaking internet where users share their experience of working with this fraudulent broker. You can also participate in the discussion by leaving an honest review on our site.
Fraud Scheme
PredCoin is interested in newcomers without trading experience and broker selection skills. It is easier for them to confuse and first lure with minimum investments, then with regular account top-ups.
Scammers simulate profitable trades, promise the benefits of using high leverage (presumably, to increase chances of success). They will do everything possible to keep the user for as long as possible. They will take as much as possible from their wallet and then unilaterally terminate the agreement. The search for reasons will be carefully concealed.
Conclusion
Investing in PredCoin is completely futile. The fraudulent broker operates without the necessary legal documents and knowingly perpetrates fraud multiplication. All information on their platform is fake and intended solely to deceive novices. The fraudulent broker profits at the expense of others with no conscience pangs. Be vigilant, avoid association with this financial scam!