FxLiveWare is a cloud mining service provider with no way of helping investors. We did notice the platform has the exact website design as Coinfliptrade. And this makes both platforms clone and probably belong to the same person. Both platforms claim to offer binary and bitcoin trading. Fxliveware.com, on the other hand, also puts in Cloud mining services. Here’s what we found out in our concise FXLIVEWARE REVIEW.
There’s nothing to write home about regarding FxLiveWare or their intent. The platform boasts of being a successful cloud mining service provider. Yet, despite all these, there’s no mention of their goals and mission.
On the about us page, the platform claims to be an efficient financial investment service provider. However, having experience with crypto mining, there are glaring mistakes that we immediately spotted.
The platform does not mention where they host their miners. There’s little to no information about their mining activities. Investors are to sign up without asking any questions blindly. And this is why we are here to expose the platform.
When choosing the right investment platform, you should be wise in your decision. Go for a platform with a proven track record. Make sure to use platforms that enjoy the backing of the entire investing and trading community.
FxLiveWare does not come anywhere close to a formidable investment platform. We have reason to believe the platform is taking advantage of naïve investors. With Crypto being a soft-after asset, investors will do anything to get their hands on the pie.
Before committing funds to any platform, you need to do due diligence. Ensure you go for platforms that share transparent investment information. Hear what other investors are saying about a particular platform before deciding to invest.
FxLiveWare offers three investment packages. These packages include Basic, Standard, and Masters. According to the information provided, all investments mature in a day. And this is something we find hard to believe.
Here’s a closer look at these investments
Basic
It’s the most basic account, with investors having to deposit $50 to $5,000. The platform promises a maturity of 2 percent, which is ideal. One interesting fact is that cloud mining contracts are highly profitable.
Standard
For the standard account holder, the user must deposit $5,000 to $10,000 to start enjoying the profit. With this account, the platform holds a 2.6 percent guarantee return to members. There’s a total of 26 percent plus capital reward when withdrawing.
Master
It’s the most exclusive package, with members having to deposit $10,000 to $50,000. There’s a return guarantee of 5 percent. Investors have to wait for a vesting period of 1 year before withdrawing funds.
The vesting period is more extended than most cloud mining contracts. We are also unsure whether the platform meets the target. With Crypto being a volatile market, chances are the platform fails to meet the target.
When it comes to Binary and forex trading accounts, there’s little information on them. As a result, we don’t know the leverage and spread available on these accounts. And this is why we have our doubts about the platform.
You would expect a platform with Binary, Crypto, and Forex information to have these assets readily available. There’s no such thing as the platform doesn’t offer users such information. But, unfortunately, we don’t know how users trade these instruments.
And this leaves traders with a big question. Once you sign up, the platform will insist on trading on your behalf. And this is not the best way to move forward. So instead, you should take control of your trading and use copy trading services if applicable.
Another interesting factor with the platform is the claim they offer investors liquidity. It means members access liquidity without selling Crypto as collateral. The platform promises up to 50 percent of the value of your asset in USD.
You should be aware that the platform won’t allow any withdrawals unless full payment is made. These backed loans are used to ransom your account. Even if your account balance has enough funds to clear the balance, the platform demands a new deposit.
And this is the reason why most regulators shun the use of backed loans. Regulators are against platforms that also offer bonuses and promotions. Investors end up losing more funds when the platform starts demanding payments.
Anonymity is another critical feature to avoid when investing. Despite claiming to reside in New Jersey, FxLiveWare is entirely anonymous. The platform does not list details of their financial backers or team members.
We don’t know the names of the CEO or CFO of the company. There’s no record of the entity being registered in any company register. And this is proof we are dealing with a platform trying to hide their identity.
Before committing funds to a platform, make sure to test their support structure. Although deposit queries elicit fast responses, it’s not so with withdrawals. The platform doesn’t even list a phone number.
There’s no live chat, which means access to direct response is not available. It seems the platform does its best to try and control the communication channels. The platform makes it possible to reach you fast, not when members try to get them.
For those who insist on trading on their own, the platform offers a custom-built platform. The problem with such platforms is the slow execution. As a result, investors end up losing funds since these platforms don’t provide accurate signals.
To fund these accounts, the platform accepts bank and wire transfers. You can also deposit funds using Crypto. Once you deposit funds, the balance will reflect in your trading account within minutes.
When the time comes to withdraw, the platform starts behaving irrationally. You won’t get any reasons from staff why members can’t make withdrawals. It’s the same problem facing members with cloud mining contracts.
There’s no way FxLiveWare is licensed or regulated by the NFA or the SEC. The platform does not produce any documents to prove it. We also did a thorough check with regulators to find out whether the platform was legit.
All our queries came up empty as no regulator in the States has licensed FX Live Ware. And this makes it a high-risk investment option. Without any regulation, the platform is free to operate as they wish.
When looking for an ideal investment platform, ensure you use reliable platforms. Choose those licensed by known institutions. Go for ASIC, BaFIN, CONSOB, CySEC, FCA, FINMA, and more.
The above regulators ensure all parties adhere to strict regulatory rules. It’s why anonymous platforms want to stay unregulated. Without any compliance, these platforms can impose any trading rules and run away with them.
The safety of funds is not available on the platform. FX Live Ware doesn’t offer insurance cover for deposits made. It means the platform is pooling all funds in one account. Segregation of accounts is not happening, thereby putting investors at risk.
In the event of bankruptcy or insolvency, members won’t get any compensation. The platform does not deposit the required minimum deposit with authorities. The amount is insurance cover for deposits made by clients.
We won’t be recommending the platform due to the safety of funds.
You should make the best investment decision by joining proven investment platforms. It’s the best way to ensure you make realistic returns.
Feel free to drop a comment or write to us.
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