Nitroforex is a investment firm which claims to trade cryptocurrency and forex. This firm claims to generate returns of up to 3000% after 45 days. At this rate becoming a millionaire is a piece of cake but unfortunately those are all fake. One look is what it took us to find everything wrong on this platform.
We found a number of misleading and fake claims on their website which is aimed at luring in newbie investors.
Read our unbiased review to find why we recommend not to send your funds to these scammers who will vanish at your expense.
Company and Contact Details
Firms which provide investment advice or any other type financial service has to be regulated by certain authorities depending upon where they are located. Nitroforex represents an ICO wherein the money for trading purposes is raised from the public and in return they are promised a fixed amount of money.
While we were trying to find any certificates confirming licenses this firm should lawfully possess, there weren’t any. We have confirmed through FCA this firm has never been licensed thereby operating illegally.
To appear legitimate in front of the investors, they have featured a registration certificate on their website but know that just because they are registered does not mean they are authorized.
Here are some of the contact details of this firm:
Address – 60 St Martins Lane, United Kingdom WC2N 4JS.
Phone – +442035141276
Email – firstname.lastname@example.org
How does Nitroforex work?
This firm supposedly uses the funds raised from investors to trade the crypto and forex market. They claim to have employed a set of highly talented professional traders and skilled professional who ensure smooth operation across all the portfolios. This narration is pretty basic and does not provide much clarity about their trading approach. There is no information on risk management techniques employed by them.
Will you trust some unknown person to trade for you? That is exactly what these scammers expect you to do.
What kind of returns does Nitroforex offer?
The main motive of every trader is to make profit but before you start dreaming about the riches this firm promises you think logically, if this platform could really generate the kind of returns advertised, why would they offer it for free?
Here are the investment packages details:
Plan 1 – 125% After 1 Day
Plan 2 – 190% After 3 Days
Plan 3 – 300% After 5 Days
Plan 4 – 420% After 7 Days
Plan 5 – 1200% After 21 Days
Plan 6 – 500% After 5 Days
Plan 7 – 1000% After 10 Days
Plan 8 – 3000% After 45 Days
According to their profit calculator if you invest $1000, you will get a daily return of $70. Seems too good to be true, right?
These scammers know that they can’t operate for long. So to reach more people in the shortest period of time they encourage individuals to promote their platform and give them incentives for doing so.
The affiliates are paid 5% of the deposit amounts made by their clients. The affiliates do not have to be an active investor to collect their rewards which is why many blogs out there are promoting this fraudulent platform.
The individuals promoting this service are provided access to a number of marketing tools which helps them to monetize their traffic.
Deposit and Withdrawal
The minimum deposit amount is $25 and the minimum withdrawal amount is $0.10 except for Bitcoin which is $25. The transaction fees is applicable to Bitcoin only which is roughly $3. The payment methods accepted by this platform are Bitcoin, BitcoinCash, Dash, Ethereum, Litecoin, PerfectMoney, Payeer and advcash.
They state that the withdrawals are usually processed within 24 hours but sometimes can take up to 3 working days.
According to whois.com this domain was registered on 20/06/2018 and expires on 20/06/2019.
This website ranks 23,437 in Czech Republic and has a global rank of 1,089,013.
According to the data provided by Alexa.com the majority of the traffic coming to this website are from Czech Republic, Russia, Vietnam, Iran and Thailand.
Is Nitroforex.io a Scam?
The returns offered are not only difficult to achieve but impossible to sustain, these criminals are just exploiting your greed and profiting from your lack of knowledge. Whenever you see seemingly easy money claims on the internet, never believe them if it is not backed up by solid trading record or payment proof because most of them are just bogus.
Nitroforex.io Review Conclusion
Nitroforex is a ponzi scheme which will pay the investors initially but just because they paid once or twice does not change the fact that it is a scam. Once the deposit amounts are outmatched by the withdrawals they will disappear before you can blink.