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MiningCoinTrade (miningcointrade.com) professes to help investors build their future through crypto investing. With crypto becoming a popular asset, Mining Coin Trade wants to take full advantage. And this is why we need to expose the rot that’s happening on the platform. Hundreds of investors are failing to withdraw funds from the platform. You, too, could fall into the hands of this ridiculous crypto investment platform. Here’s our complete MININGCOINTRADE REVIEW.
About MiningCoinTrade
On The homepage, MiningCoinTrade claims to build a network of crypto investment. Miningcointrade.com also provides forex trading services. Unfortunately, the website has no information on critical elements of forex trading.
Those who have deposited funds with Mining Coin Trade are ruing the decision. None of them seem to make contact with support. To add salt to injury, the platform is withholding funds from clients.
You won’t get the chance to enjoy your hard-earned money, especially through trading. The vesting period for their crypto investment is also unknown. And this is the reason we believe the platform is taking investors for a ride.
Such platforms need to be exposed for their blatant disregard of crypto and forex investment rules. It would be best if you found out the loopholes and regulations that come with online investing. It’s the only way to know whether a platform is taking complete advantage.
There’s no doubt in our minds that MiningCoinTrade is taking users for a joyride. But, unfortunately, the platform doesn’t have any page that works except the homepage. And this is the reason why we have to expose the platform.
You should investigate a platform before committing funds to it. And this will lead to better decision-making. Those who fail to check the legitimacy of a platform end up losing funds. That’s what we have to expose with miningcointrade.com.
Accounts and plans MiningCoinTrade
Mining Coin Trade doesn’t name the account tiers available on their crypto of forex trading services. And that got us thinking, why would the platform fail to offer such vital information? The truth is, Mining Coin Trade wants to take advantage of naïve investors.
Despite claiming to offer all-around risk-free investment accounts, it’s not the case. Instead, what we have is a platform that fails to offer investors any chance of profiting. Without accounts, the platform easily takes you for a ride.
Here’s how the platform takes investors for a ride. By failing to mention the acceptable minimum deposit, you could be hassled. The platform would easily recommend you invest more by claiming higher returns.
We have seen this type of crypto account system before. You should know that with Crypto, most platforms take $500 as the minimum deposit. However, when it comes to forex trading, the acceptable minimum deposit is set at $250.
Account Features
Since the platform claims to offer forex trading, we don’t know the acceptable leverage and spreads. However, with forex trading, these two features must be known before signing up with accounts.
The industry has set the maximum leverage at 1:100 in most jurisdictions. In the United States, retail traders enjoy maximum leverage of 1:50. We strongly believe the platform offers high leverage of up to 1:500.
High leverage means risking losing a large volume of trade. And this is an advantage to the platform, not the trader. That’s why regulators had to move in to protect investors. You need to invest in credible platforms that offer realistic account features.
Affiliate and Referral program
To help get more clients, the platform has an affiliate and referral program. Members get a promise of earning 10 percent with each deposit. However, before you become their partner, there are a few key issues to note.
Most affiliate members have flagged the platform as it doesn’t pay. You will also have to face the blame once the platform fails to release funds. Those who you direct to the platform will blame you for their losses.
In the end, the platform makes sure affiliates lose all credibility. There’s no need to lose your reputation over a platform that is a sham. Please get to know whether a platform is transparent before signing up with their affiliate program.
Are funds safe with MiningCoinTrade?
Your funds are far from safe with a platform that doesn’t offer insurance cover for deposits. So you won’t get to enjoy the much-needed safety with the platform. We also suspect the platform is not segregating funds.
All funds are stored in a single bank account or crypto wallet. In the event of bankruptcy or insolvency, no one gets any compensation. And that’s the least of your worries. Experts believe the platform is also harvesting banking data from members.
Business holder
Details of who owns or runs Mining Coin Trade remain a mystery. What we do know for sure is that the platform doesn’t reside in the States. If it did, we would have their registration documents.
No regulator in the United States has information on the platform. And this makes it a totally dangerous platform to invest with. Mining Coin Trade is an anonymous crypto investment platform.
Without transparency, we suspect you will end up losing funds. The platform doesn’t bother enlisting users with registry details. An anonymous crypto investment platform makes it hard to track down funds after funding accounts.
Compliance, License, and Regulation MiningCoinTrade
Mining Coin Trade is not a regulated platform; otherwise, CFTC, NFA, or SEC would have it on their registers. With an unregulated platform, it’s clear your funds are at risk. The platform fails to deposit the minimum requirement with regulators to act as insurance cover.
All platforms must deposit a certain amount with regulators. It’s meant as a protective cover for the members of the public. We also don’t see any proof that the platform has any registration documents.
Ensure you check whether regulators register a platform before committing funds. An anonymous and unregulated platform is the last place you want to invest with. Check with all regulators to confirm eligibility for your own safety.
Contact and support
When selecting which crypto platform to invest with, ensure you check out the support structure. Test how well support responds to your calls. For example, it makes it easier for members to get help from live chat or making phone calls.
What we have is a platform that uses VOIP calls from a virtual phone number. You won’t get to contact them; after signing up, the platform will start making calls. These calls are to entice members into depositing funds.
Once you make the mistake of depositing funds, that’s the last you will see or hear from the platform. No one has made it this far with the platform. Mining Coin Trade fails to respond to emails, especially those concerning withdrawals.
Deposit and Withdrawals
Funding accounts with the platform is made easy by the numerous depository channels. You get to deposit funds using various methods such as bank and wire transfer. Members also get to fund their accounts using Bitcoin.
We don’t recommend you fund your accounts with the platform. No one has managed to withdraw funds for the past few weeks. And this is why you need to stay away from Miningcointrade.com.
Without proof of withdrawing, it makes mining coin trade a complete sham. There’s no evidence that you will get any ROI with the platform. We believe this is another crypto investment platform taking advantage of naïve investors.
Final thoughts
We have to flag the platform down and insist on ignoring it.
You can join our growing crypto mining community for more on crypto investing and trading.
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