Assessment of Pure Traders Service
The Pure Traders service promises easy access to the world of cryptocurrencies and various assets, while also providing its clients with free trading signals. Convenience, security, promptness – these are the company’s slogans. There are numerous reviews about the service, making its evaluation complex. A more detailed examination of the legal documentation and trading conditions is needed. This will be the focus of our review.
Service Review
According to the claims of the brokerage company Pure Traders, they have been serving traders since 2018. However, the lack of reviews raises doubts about the accuracy of this information. A detailed examination of the domain’s history confirmed our suspicions – the site was only launched in July 2022.
Despite publishing an official address in Canada, it is actually just a private home, not a functioning representation of the company. The contact information on the platform also raised doubts. The WhatsApp number provided for communication turned out to be invalid. The only remaining contact options are the online chat and Telegram channel.
An investigation revealed the existence of a clone site of Pure Traders, presented under the name Lunzo Capital. There are currently no reviews of this copy. It is likely that the creators launched a second site as a backup in case the main one is blocked.
Legal Aspects
According to information on the puretraders.ltd website, the brand belongs to Pure Traders Capital Inc, registered in Canada and a member of IIROC, CIPF. However, the presence of official documents confirming these details is doubtful. The company does not have a license from the FCA, which confirms its recent establishment. Licenses from ASIC and the South African Financial Sector Conduct Authority (FSCA №64984) are also not confirmed.
Cooperation with regulators from CIS countries has also not taken place. There are no licenses from the Central Bank of Russia, the National Bank of Belarus, or the Agency of the Republic of Kazakhstan for the Development and Regulation of Financial Markets.
Since only positive reviews have been published on the Pure Traders platform, their authenticity is questionable. Users on external platforms may share their experiences if they have dealt with Pure Traders.
Fraud Principle
The Pure Traders company offers attractive opportunities for beginners: minimal deposits, free signals, risk-free testing. They lure clients with supposedly profitable trading, only to deprive them of their deposits by creating conditions for losing trades or technical malfunctions.
Even small sums require passing verification for withdrawal. The established rules provide the opportunity for clients to be denied funds withdrawals using formal reasons.
Conclusions
Dealing with Pure Traders carries a high risk as the company is not a reliable brokerage platform. Operating as experienced scammers, they work on the illusion of successful trading to attract clients’ money and then steal it. Be cautious and conduct a thorough check of the activities of such companies before investing funds.
