Independent review: cryptocurrency trading with Pure Traders
Pure Traders offers convenient access to cryptocurrency trading, currency pairs, and other assets, as well as provides free signals. According to the website developers, security, simplicity, and speed are the company’s core values. The lack of reviews about the service complicates its evaluation from the very beginning. For a full understanding, a detailed analysis of legal documents and cooperation terms is necessary, and that’s what we will focus on in our review.
Main facts about Pure Traders
According to the brokerage firm Pure Traders, they have been offering their services to traders since 2018. However, due to the lack of reviews, doubts arise about the accuracy of this information. Subsequent research on the domain history confirmed that the company is a newcomer in this field – its website was launched only in July 2022.
The project authors preferred to remain in the shadows, not disclosing information about their team. The lack of information about the individuals responsible for the financial aspects and issue resolution raises suspicions. Such opacity is more often characteristic of scammers whose goals are limited to their own benefit.
According to the provided information, the brokerage firm Pure Traders, in legend, has an office in Canada. However, investigating the address details on Google Maps revealed that the specified location belongs to a regular private house, not a financial company office.
Regarding contact information, the situation on the platform leaves much to be desired. The WhatsApp number for calls turned out to be fake, thus excluding the possibility of phone communication. An interactive chat and a Telegram channel with trading signals remain the main options for contacting customer support.
An analysis showed that there is a clone of the Pure Traders website. Scammers changed only the logo, renaming it to Lunzo Capital (LunzoFX). The second resource lacks reviews and expert reviews. Probably, charlatans launched a new site just in case if the original resource puretraders.ltd gets blocked.
Legal base analysis
The starting page of puretraders.ltd states that the brand belongs to Pure Traders Capital Inc, registered in Canada and a member of IIROC, CIPF. Scammers, of course, did not provide any documents to confirm their status. It is noteworthy that for legitimate activity, a middleman must obtain permission from the FCA, but Pure Traders is not listed among licensed companies.
Each of the platforms tries to demonstrate the presence of licenses for activities from ASIC and the South African Financial Sector Conduct Authority (FSCA №64984), but this fact is not confirmed in reality.
Cooperation of Pure Traders with regulators of CIS countries also does not bring success. The company has no licenses from the Central Bank of Russia, as well as from the national banks of Belarus and Kazakhstan.
So far, scammers have avoided getting into the blacklist by timely launching, not allowing user reviews to appear. By the way, charlatans managed to completely remove their financial responsibility, fixing this point in the Terms and Conditions. After this step, they won’t care about the clients’ interests.
Offers on the platform
Pure Traders platform does not provide detailed information about contracts to potential clients. The list of services is limited to the following features:
- Minimum deposit – $50,
- Free trading signals,
- Ability to test the platform without investments,
- Intuitive interface,
- No commissions for profit withdrawal,
- Payouts within 10-25 minutes,
- Wide range of assets – currency pairs, cryptocurrencies, options, and more.
Reviews
Reviews only appear on the Pure Traders site and, naturally, are exclusively positive. However, they should be treated with skepticism as they may be written by company employees. The standardization of statements and the absence of the ability to add one’s review are striking.
Analytical platforms, where real user reviews can usually be found, currently do not contain information about this company. If you have dealt with Pure Traders and are willing to share your experience, please share the information on our platform.
Fraud Mechanism
Pure Traders specialists know exactly what tricks newbies fall for: low initial deposit, the ability to test the platform without their funds, as well as free trading signals. Scammers carefully craft a trap, creating an illusion of successful trading to lure new investors, and then deprive clients of funds in the deposit account by increasing spreads to abnormal values or causing a technical glitch.
Even if there are pennies left in the account, the financial withdrawal is blocked. The rules clearly state that before withdrawing money, a trader must go through a document verification procedure. Scammers will study the provided documents and refuse payment, accusing the client of violating the company’s rules.
Final Conclusion
There is practically no opportunity to earn with Pure Traders – it is a fake company created by experienced scammers. They have many similar projects, and it is clear they have no intention of stopping. Their goal is to extract as much money as possible from gullible people. Be cautious! Before registering on a financial intermediary platform, make sure all legal documents are present and review real client feedback.
