A platform claiming to be award-winning, ZeithCoin (zeithcoin.com) is a dubious forex investment platform. Finally, we have a platform that wants traders to view it as an accomplished trading platform. Unfortunately, Zeith Coin has been blocking withdrawals from the very same clients in the real sense. Hundreds of investors have been complaining about the ruthless conditions found on the platform. Learn more in our detailed ZEITHCOIN REVIEW.
Navigation on ZeithCoin is far from easy as the platform tries to pack all information on one page. As a result, you won’t understand everything, especially the available trading conditions. Once you sign up, that’s when you realize the platform is a hoax.
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Before jumping in and signing up, you need to do due diligence first on any platform. Try and find out the experience of other users. It helps you gauge what to expect with the platform and make the right decision.
Zeith Coin claims to offer the best spreads in the market. However, you should note that the platform fails to mention these spreads on their homepage. Therefore, you get to see the set spreads on the platform until you open an account.
To try and get more clients to sign up and deposit, zeithcoin.com uses false credentials. It claims to have ASIC and FCA regulations. We will expose the false narrative the platform tries to sell to investors.
There’s also the option of offering premium services to clients. What the platform means by this is that there are traders who can trade on your behalf. But, unfortunately, we know that Zeith Coin doesn’t have any professional traders working for them.
ZeithCoin fails to mention the available accounts on the platform. Instead, you get a platform that claims to have you started within five minutes. Members don’t know the available features of these accounts before signing up.
We believe Zeith Coin omits this crucial information for a reason. It wants to sign up all classes of investors. The platform fails to mention the acceptable leverage of minimum deposit.
Regulators have set the acceptable leverage in all jurisdictions. In Europe, for instance, regulators agree to maximum leverage of 1:100. For retail traders in the United States, CFTC, NFA, and SEC agree to 1:50 for retail traders.
When it comes to an acceptable minimum deposit, all parties agree to ($€) 250. The platform in question will claim that the more you deposit, the higher your chances of winning. These are false claims meant to drive up deposits and sign-ups.
Some of the notable features listed on the homepage include technical analysis and educational tools. The platform claims to offer free educational tools to clients. You also get technical analysis for all assets.
Opening an account with ZeithCoin is straightforward. However, the platform doesn’t have a KYC policy which is against trading laws. And this makes it possible for them to deny any trading involvement with clients.
After signing up, you get to fund your account. The balance will reflect within 24 hours after depositing funds. When the time comes to withdraw, zeithcoin.com will start demanding crucial documents for verification.
We don’t understand why the platform asks for a copy of your ID, bank statements, and credit card information. There are other ways to verify a customer, such as using a two-factor authentication method.
From a cyber security point of view, it’s clear the platform is harvesting personal data. But, unfortunately, there’s no telling what the platform will do with your banking data. And this is the reason why we have to expose the platform’s risk features.
There are five classes of trading assets available on the platform. These include binary, commodities, forex, indices, and shares. With most jurisdictions against binary trading, we don’t understand why this is available.
You get to trade with commodities such as household goods, including sugar and wheat. Forex trading is at the core of the platform’s existence. In addition, you get to trade major and minor pairs. The platform also claims to offer over 1,000 trading assets.
Traders get a chance to spread their risks on the international market. You trade in markets such as DAX, Dow Jones, Nikkei, NYSE, and S&P. It’s an excellent way to learn about the world’s trading habits.
Stock trading happens to be one of the largest activities in trading. You get to own a piece of a company for a short period. Some of the shares to find include Amazon, Samsung, and Tesla. You can also trade with the FAANG shares, which offer amazing results.
The bottom of the homepage has an award and certificate logo. Unfortunately, there’s no information on when the platform won these awards. What we do know is that these are false awards the platform uses.
You can download award logos and place them on the web. And this makes it possible for the platform to entice users into believing it’s a credible platform. But, of course, it would be best if you stayed away from the platform before you lose everything.
There’s no information on who operates or runs the platform. We have a false name of the entity behind the trading platform. ZEITHCOIN International Ltd is the entity we are led to believe owns the platform.
Despite posting an ACN number, there are no records to indicate the company exists. And this means we are dealing with an anonymous investment platform. You need to stay away from anonymity or risk losing your investment.
There are a few videos on the homepage with users who hail the platform. The videos are not longer than eight seconds. It’s clear from the onset that the platform is hiring paid actors to act as clients.
You won’t get to see any positive platform reviews on an independent website. Instead, most victims have been ranting about how the platform stole from them on social media. You, too, could be their next victim if you sign up.
ZeithCoin claims to have three licenses which is not possible. A license from ASIC, CySEC, and the FCA doesn’t make sense. These regulators only license platforms operating in their respective jurisdictions.
We also don’t see any documents to prove that the platform does actually have a license. There are no license certificates or documents to prove their compliance. So we would also see their name on regulated platforms on the mentioned regulators.
Anything can go wrong when a platform fails to have a regulatory framework. The platform can create harsh trading conditions that only benefit the platform. That’s why you need to have a regulated platform when trading.
Your funds are far from safe with a platform that fails to have a valid license. We suspect the platform doesn’t segregate accounts. It means the platform is depositing all funds in one single account.
Members don’t get insurance cover for their deposits.
Please stay away from a falsely regulated platform that fails to prove their compliance.
Instead, go for proven ways of investing in the markets. Then, it’s time to make the bold decision and start earning real ROI.
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