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WhiteTzFx (whitetzfx.com) is a clone of another crypto investment scam, Invcoin Hub. The two share the exact website design, which made us quickly learn of their dubious plan. These two plan to defraud unsuspecting crypto investors. White TZ FX has a darker theme and different accounts, but the overall imagery is the same. So we have to expose the platform to help investors avoid signing up. Here’s more in our exclusive WHITETZFX REVIEW.
A Close Summary of WhiteTzFx
Even the about us page is similar; whitetzfx claims to offer reliable crypto investment opportunities. But, in the real sense, the platform is a clone and a hoax trying to steal funds from clients. And this is the reason why we must expose it.
Several members have lodged complaints with regulators regarding the platform’s behavior. But, unfortunately, the platform doesn’t seem to care when it comes to trading. As a result, you have a platform that fails to offer members a chance to enjoy the fruits of their labor.
White Tz FX will try and use every trick in the book to get investors into signing up. And this means making unrealistic promises. These promises include claiming to offer guaranteed ROI on each plan.
We also get to see bonuses on their crypto trading accounts. The platform mainly deals with crypto investment as forex trading is a secondary service. However, with crypto becoming popular, everyone wants a piece of the platform.
The aesthetics of the website is not appealing, especially the homepage. No expert or professional broker would ever go for a dark-themed investment platform. However, all their pages are okay, although filled with an influx of information.
Navigation is far from easy, and you can easily get lost. In addition, the platform does a shady job to try and hide vital information from clients. These are some of the red flags we must point out for naïve investors.
Accounts and crypto trading plans WhiteTzFx
WhiteTzFx offers two distinct crypto trading accounts. These accounts provide investors a chance to double their investment. The two accounts include Popular and Classic accounts. You have to deposit a minimum of $500 with the two accounts.
The full features of these accounts can be seen on the homepage. But, unfortunately, you can see that the platform fails to give members meaningful information on the platform. That’s the reason why we have to warn investors of these accounts.
Account Features
With no actual account features, investors are left without valuable information. No one knows the acceptable leverage and spreads that come with the platform. The industry has listed acceptable trading conditions.
An excellent example is when it comes to leverage. Most jurisdictions in Europe accept maximum leverage of 1:100. In the United States, leverage is capped at 1:50 for retail traders. A platform availing higher leverage is contrary to available trading regulations.
There’s also the aspect of an acceptable minimum deposit. We all agree that the acceptable minimum deposit for trading is $250. Any platform asking for more than the acceptable minimum is taking advantage of investors.
Assets and Trading Instruments
Crypto is the basis of the platform as it plays a vital role in online investment. However, the platform fails to give any information on how it plans to make a profit. Nevertheless, we believe White TZ FX manages to invest in crypto exchanges.
Other trading assets available on the platform include bonds, commodities, forex, indices, and stocks. You get to trade bonds from Europe such as the Eurobond and more. Commodities found include those from the energy and manufacturing sectors.
To enhance your trading, there’s also the forex trading aspect. There are major and minor pairs found on the platform. We have an issue with the available leverage and spreads of all these assets. The platform is silent on these critical features.
Thanks to indices such as FTSE, NASDAQ, S&P 500, and more, international markets are also available. You get to spread your risks with these markets. The stock exchange also gives you a chance to grab and trade stocks from leading companies.
Awards and recognitions
Just as it is with the sister platform, we get to see an attempt to make it look professional. None of these awards have the platform’s name engraved on them. Instead, these are logos that you can download from the web.
There has been no award ceremony with the winner in any category in the past three years with such a name. That’s how we know that the platform wants to appear legit in the eyes of naïve investors. Unfortunately, these are some of the red flags investors won’t bother checking to confirm.
Business owner
Information on who owns or runs the platform remains a mystery. We don’t know who has the platform’s accounts. And this makes WhiteTzFx an anonymous crypto investment platform. Despite claiming to reside in the UK, no regulator seems to recognize them.
Even the office building they claim to reside in is under renovation. There are no offices available yet until the refurbishment is complete in early 2022. Traders in London haven’t even heard of the platform.
Client Testimony
We have seen these faces before in the Invcoin Hub platform. And this is the platform using false images to act as clients. Everything you see as testimony is unfounded. We don’t have access to these clients’ trading accounts.
There’s no proof of these clients ever existing on the platform’s database. The people you see don’t even have social media profiles. Weirdly, none of them can be found on any professional or social media platform.
Contact and customer support
You should check to ensure that the support structure is fast enough. For example, an investment platform ought to respond to emails within 24 hours. Unfortunately, it’s not the case, as the platform rarely responds to emails.
It’s what’s happening to members who send withdrawal requests via email. No one has received any response for the past few weeks. The phone numbers are only accessible via WhatsApp. You can easily be kicked out of the group if you insist on withdrawals.
Funding Accounts
There are several funding methods which include bank and wire transfers. For crypto funding, the platform will direct you to an exchange platform. Once you fund these accounts, the balance will reflect within 24 hours.
We don’t recommend investing or trading with the platform. No member has made it this far when it comes to withdrawing. There’s no proof that you can withdraw funds which makes it a dummy crypto investment platform.
Is WhiteTzFx Licensed or Registered?
WhiteTzFx is not a licensed platform and does not have any documents to prove it. As a result, the platform fails to offer investors a chance to verify legitimacy. However, there are ways you can ascertain whether a platform is regulated or not.
You can easily reach out to governing bodies in the jurisdiction. For instance, the governing body in the UK is the Financial Conduct Authority. But, unfortunately, after a thorough search, we couldn’t find the platform’s registry details.
We asked around, and the FCA plans to issue a warning regarding the use of this platform. It would be best if you stayed away from such platforms or risk losing it all. The platform doesn’t offer much in terms of the safety of funds.
Security of funds WhiteTzFx
As we stated above, your funds are not safe with an anonymous and unregulated platform. In addition, the platform fails to segregate accounts or offer insurance cover for deposits made.
Verdict
Please stay away from the cloned platform, whitetzfx.com.
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