We can confidently say that Elevate Crypto Fx is the weirdest broker we have seen in a long period of time. They claim to be based in the United States, but some of the things they feature makes them an illegal entity. The closer you look at them, the things they feature will scare you, but for beginners it might be hard to find all their flaws.
On their website, they boast about their accomplishments in the cryptocurrency mining sector, but all of their statements are not only vague but outright impossible too. Clearly, this is not the kind of platform you want to invest with and if you read the following information, you will be aware of all of their nasty agendas as well.
Things like short term derivatives of crypto coins and binary options might have huge potential, but the odds are massive and the retail clients rarely make money from them. So, never focus on the gains presented or marketed by new firms instead take a slow approach and unless you have an edge, do not get involved with any platforms.
Remember, the key to consistent profits in the markets is patience combined with proper strategy and everything else is just fluff.
Is Elevate Crypto Fx Regulated?
The law in the United States is very strict and firms that are located there have to follow a lot of policies. For example, the leverage cap in the US is way too low compared to the counterparts and that’s a good thing for the retail investors. Due to the restrictions laid by the government, a lot of people use offshore brokers to navigate the markets and in most cases the situation will end badly.
The problem with unregulated entities are many and the main driver for the issues present is the conflict of interest. Elevate Crypto Fx claims to be regulated by IFSC of Belize and CFTC. Any common person would deposit with them as soon as they see this information, but you shouldn’t take any impulsive action while dealing with them because they have bluffed about their legality.
We could not find any information about them on any regulatory body and that conclusively proves that this platform is a fraudulent one. There are few images of their employees available on their platform, but as it is impossible to verify their real identity, we cannot possibly give them the benefit of the doubt. This firm engages with the public only via email and there is no metric to gauge their responsiveness.
- Address – 502 86th St, Brooklyn, New York 11209, United States
- Email – email@example.com
Background Story and Claims
Elevate Crypto Fx is supposedly involved in a lot of sectors. According to their data, this firm has been around since 2017 and was known as the best Bitcoin doubler platform. From the get-go the narrative they are pushing is false and as a rule of thumb if any entity claims to double your money, then you should report them to relevant authorities at the earliest.
Crypto mining and order book trading strategy are two different things and they do not affect one another by any means. Moreover, there is no evidence to support that they are involved with any of the activities mentioned above. Even in their promo video, the content is not relevant and they have just talked about the general things such as the ways of buying and storing bitcoin.
Moving on to employee profiles, the data is inadequate to gauge them and we strongly feel the move made by them has dirty motives. At the end of the day obviously they do not maintain cordial relation with the public and that is a well known trait of every scam out there.
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Reputable firms always maintain good PR and they want to earn credibility as they are aiming for the long term horizon. Crooks on the other hand create buzz for a few days and eventually when they have made enough money, they will disappear without leaving any trace about their whereabouts. After all, their intention was never to make their clients rich, right?
What does this platform Offer?
This is a tricky question and the answer, believe it or not is inconclusive. On their homepage they claim to offer binary options, forex and CFDs. However, they have not talked about any of the specific details. For example, the average payout of the binary options trades are unknown. The spreads, swap rates and the interface they offer are mysterious as well.
Leverage rates are not revealed and the commission structure is also not made public. This brokerage is perhaps the worst one we have ever seen and if you plan on using their service, then you will for sure lose money sooner or later. Binary options carry an enormous degree of time decay and unless you are a professional trader, you shouldn’t mess around with those kinds of derivatives.
The world of forex trading is lucrative and of course many people have made significant money from it. However, that does not mean that it is your magical ticket to wealth. Even if you have found the perfect strategy do not take unwanted risk with brokerages like this one. Trade using only the regulated entities and you will appreciate the conditions provided by them and the fail safe mechanics they have in place.
False Claims and Mining
After reading the information till now, we are sure that you are aware of the flaws present with this platform. Now, let us cut to the chase and start pointing to the nasty ones that will help you understand them better. First and foremost, clients need to understand that despite the things they claim, it is never safe to share data with them for any reason. Their website does not have valid SSL connection and that compromised the data security.
The narrative provided by them about their background and the mining process is nothing but fictitious. Moreover, their legal status clearly exposes their dirty side. Presently, there are a lot of cloud mining websites on the internet that claim to enable people to make double digit returns.
However, in reality almost more than 99% of them are fraudulent ones that have no connection with the actual farms. So, do not let curiosity get the best out of you and if something seems too easy, then it is always better to walk away from it.
Bronze, Silver and Gold accounts are the kinds of investment packages available on this platform. The associated conditions with each account type are pretty vague and it does not instill confidence. All of the account types are eligible for trading signals, but just like most things with them, the accuracy number or percentage is unknown.
There are caps on the amount of withdrawals an individual can do and it ranges between 3 to 14. Note that they offer deposit bonuses, but the terms are not at all mentioned upfront. Minimum amount required to get an active account with them is $1,000 and the only payment method they use is Bitcoin.
In other words, they have tried their best to leave no trace behind and using cryptocurrencies for payments, they are trying to stay below the radar. In case if you are wondering, know that we weren’t able to find any credible trading records or history on their website.
If you see the comments made by alleged users on this platform, then it is natural to feel hyped and motivated. However, those fancy comments have a hidden agenda and in reality, it is just a trap. Countless fake platforms create fake comments and post them on their own platform in order to make themselves trustworthy. They purposefully provide inadequate data which at the end of the day will benefit them in numerous ways.
We are not saying that every forum is unreliable, but few of them are and as a rule of thumb, do not trust any comments that have referral links in them. For the sake of commissions and quick paycheque, many people spread false information on the web and that’s exactly why you should always double check the details?
Coming back to this platform, we did not find any reliable customer feedback and that makes things more complicated. Nonetheless, do not believe any success stories you hear from them and more importantly, never give them your banking information. One wrong move with them will cause waves of disaster and it is never worth the risk in any angle.
Can you Trust Elevate Crypto Fx?
No way, a rational person would never even think about them for all the right reasons. They are very mysterious in nature yet their agendas are deadly. From lack of information to just about everything with them is filled with hassles, broken explanation and outright lies. If the real owner behind this firm is caught, they will not only pay a hefty fine, but also have to spend a lot of time behind bars for their actions.
Binary options are banned in the United States and apart from a couple of licensed and regulated exchanges, there aren’t any reliable options present. The payout on the regulated exchanges might be comparatively lower than the offshore firms. However, if you are someone that values security of funds, then avoid any unlicensed firms.
If you have made the mistake of sending Bitcoin to this platform, then do not accept defeat yet. Let us know the details of the transactions via the contact form and our experts will use the latest forensic tools in the sector to trace out the culprits for you. Note that all of our services are free and our only goal is to put an end to internet scams once and for all.
Elevate Crypto Fx Review Conclusion
Elevate Crypto Fx appears to be a ponzi type brokerage platform that spreads nothing, but false narratives and fake stories. The actual owners are unknown to us and chances are they will not even last for a year. On top of all the telltale signs they exhibit, they also have the audacity to ask for a minimum deposit of $1000 that is outrageous.
There are tons of better alternatives available if you are interested in trading and any reputable one will do the job. If you are into binary options specifically, Nadex is the best platform in the United States and it provides amazing liquidity to day traders. The idea of making passive income through crypto mining is no longer a worthwhile option and for the very same reason, it is better to stay away from any firm that pushes the outdated narratives.
Do you have anything to say about Elevate Crypto Fx? If yes, then enlighten us in the thread below.
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