We received the following complaint regarding Fxtradepro.net:

I was targeted by someone pretending to be a financial professional during a time of extreme need. I am a type 1 diabetic and needed funds to afford my insulin. Believing I was making a secure investment, I sent $505.68 worth of Bitcoin to the scammer’s address. This has left me unable to afford necessary medical expenses and in dire financial straits.

Scam Details:

• Scam Name: Fxtradepro
• Scam Website URL: fxtradepro.net
• Transaction Hash: 2630e699d7a9afed42e420b46ae4ee873ee162bbd093061752a414983b1bf0bf
• Receiving Address: 1FNMbgECJ9D6raFx6ayvevL4L5fea49cNU
• Amount Sent: $505.68 (0.00829697 BTC)

If you have been scammed by the same fraudster, please share your story.

Domain Analysis

The domain fxtradepro.net, registered on December 15, 2023, through OwnRegistrar, Inc., is scheduled to expire on December 16, 2024. The registration details list Wealth Igolima as the registrant, administrative, and technical contact, all located at No 65 Agip Estate, Portharcourt, Rivers, Nigeria, with the contact email cryptoexpertsfx@gmail.com and phone number +234.8080311614. The domain status is marked as clientDeleteProhibited, clientTransferProhibited, and clientUpdateProhibited, with name servers ns19.naijadomains.com and ns20.naijadomains.com.

Hosting is managed by Contabo GmbH, with the server located in Nuremberg, Germany. Despite the site’s claims, it appears to be a fraudulent operation. It has been reported for scamming individuals, such as a case where $505.68 worth of Bitcoin was sent to the scammer’s receiving address, 1FNMbgECJ9D6raFx6ayvevL4L5fea49cNU. This scam specifically targeted vulnerable individuals, causing significant financial and emotional distress. Victims are encouraged to share their stories to help prevent others from falling into similar traps.

FXTradePro.net Review

Fxtradepro.net presents itself as a comprehensive online trading and investment platform, purportedly offering opportunities in foreign exchange, stock market trading, and cryptocurrency investments.

The site claims to provide its users with the potential to generate financial returns on rising and falling prices across various markets, including indices, FX, commodities, shares, and cryptocurrencies. It emphasizes its commitment to helping clients achieve their financial goals by offering access to liquidity and effective risk management strategies.

The platform touts its advanced technology, state-of-the-art security encryption, and extensive network, which it claims delivers a superior trading experience.

Fxtradepro.net offers multiple investment plans with daily profit percentages ranging from 10% to 60% depending on the plan and asserts that these profits are for a lifetime with the capital being secured.

The website lists the company’s address as 5622 Baker Street, Louisville, and provides contact information through an email address, support@fxtradepro.net, and a phone number, +44-20-4526-2356.

It also claims to be founded and managed by leading industry professionals, stressing its commitment to a client-centered culture.

Additionally, the site includes testimonials, recent deposit and withdrawal transactions, and promotes a mentorship subscription program for traders.

The platform offers 24/7 live support, an automatic security system, and a well-designed risk management strategy.

Red Flags

However, several serious red flags indicate that Fxtradepro.net is likely a scam.

First, the exorbitant daily profit claims of 10% to 60% for a lifetime are unrealistic and characteristic of fraudulent schemes. Such high returns with no risk are a common indicator of Ponzi or pyramid schemes.

Secondly, the site’s WHOIS information lists a registrant named Wealth Igolima with an address in Nigeria. The registration details lack professionalism and transparency.

Furthermore, the domain was registered very recently, on December 15, 2023, and expires in a year, often a sign of short-term fraudulent operations. The name servers and hosting details also point to a lack of credibility, with the domain status marked as clientDeleteProhibited, clientTransferProhibited, and clientUpdateProhibited, indicating restrictions that prevent changes to the domain registration, often used to maintain control over potentially fraudulent domains. The hosting by Contabo GmbH, located in Nuremberg, Germany, adds another layer of complexity and potential obfuscation.

Additionally, the platform’s social media presence and testimonials appear fabricated, and no verifiable regulatory information is provided, which is critical for legitimate financial trading platforms. The website’s layout and content are designed to mimic authentic trading platforms but lack depth and verifiable details, raising further suspicion.

FXTradePro Reviews

Regulatory authorities and investigative journalists have identified FXTradePro as a sophisticated scam operation masquerading as a legitimate forex brokerage firm. The platform, accessible via fxtradepro.net, lures investors with promises of high returns and advanced trading tools yet fails to provide necessary regulatory information. According to BrokersView, the platform’s registration number does not appear in the FCA’s database, casting serious doubts on its legitimacy. Scam Detector gives fxtradepro.net one of the lowest trust scores on its platform, a mere 6.7, signaling a high likelihood of fraudulent activity.

Bottom Line

When examined, FXTradePro exhibits numerous hallmarks of a sophisticated scam. Despite its polished presentation and extensive claims of high returns and advanced trading tools, the lack of regulatory information and unrealistic profit promises raise significant concerns.

The platform’s absence of legitimate financial authority databases, overwhelmingly negative reviews, and low trust scores from credible sources strongly suggest fraudulent activity. Potential investors should be wary of platforms like FXTradePro, which prey on financial vulnerabilities with enticing yet dubious propositions. Given the evidence, it is prudent to conclude that FXTradePro is not a legitimate trading platform but a well-orchestrated scam designed to deceive and defraud unsuspecting investors.