L7 Trade was a hot product in the financial sector. They claimed to make use of some modified type of arbitrage principle to make as much as 4% profits daily. Their platform was well designed and it was no brainer that most newbies fell for this sophisticated scam. L7 Trade claimed to be under the radar of CySec and they even had the guts to feature a phony registration number on their website.
The number of things wrong with this firm just keeps on growing the more we look into it. So, to get a complete idea about the intentions, motives, and goals of this company, continue reading our comprehensive report till the end.
License and Platform Details
The regulation for the most part hasn’t caught up to the crypto sector and their offerings. Every day a new ICO seems to pop up and statistically more than 95% of them are guaranteed to end up worthless.
Given the hype around cryptocurrencies and the naive nature of many participants, it indeed has become a God-sent for scammers and crooks out there. L7 Trade features the details of their registration on their platform, but apart from the license number, there isn’t much information available.
This firm accepts people from all over the world and that means, they have to be regulated by multiple authorities such as the FTC and FCA. During our research, we didn’t find any information about this firm on any regulatory body which means they are bluffing about their legal status. If you ever make the mistake of trusting them with your money, then know that the security of your funds is never guaranteed and the chances of losing the entire capital amount is sky high.
The trading interface provided by the L7 Trade looks sophisticated, but in reality, it is nothing more than a fancy gimmick designed to make themselves look professional. In case you were wondering, know that they only communicate with the clients via email and telegram.
Given their ridiculous attempts to maintain a low profile, isn’t it obvious that they are scared of the regulators?
How Does the L7 Trade Scam Work?
This firm claims to make money for themselves and their clients via crypto trading. According to their investment plans, the clients have the opportunity to make anywhere between 1% to 4% ROI every day. All of their claims sound good in theory, but when it comes to execution, things will take an ugly turn quickly.
First of all, we as potential customers are not given access to a demo account which means we can’t test them out without risking our money. Secondly, there is no credible evidence or trading history to support their statements. Moreover, the details of their fund managers are also kept secret.
Get in touch with our affiliated Cryptocurrency Forensic Specialists at CNC Intelligence for free by filling out the form below.
In simple words, they are expecting the public to trust them based on their empty promises and as a rational human beings, we can never do that. Ask yourself, if they did have an approach to making risk-free profits, would they give it away to the public for free?
Just like all the Ponzi programs on the internet, this one also makes exaggerated claims about the profit potential. They advertise returns of over 4% daily and they dare to call those kinds of numbers as easy and risk-free.
Cryptocurrencies are a relatively new category in the financial sector and most people for some reason seem to look at them as an easy way to make money. Sadly, that is not the case and unless you invested in the early 2000s, do not expect to make 1000x returns anytime soon.
As far as this firm is considered, they have no real source of income and they don’t have anything to do with trading either. Their main goal is to transfer money from the client’s bank account to their pocket using sketchy tactics, narratives, and illegal mechanisms.
L7 Trade Ponzi Model Explained
L7 Trade is not the first popular platform that followed the Ponzi operational model to get cash flow. Sadly, many people still do not recognize the classic traits and we strongly believe that as long as the retail side is not educated, the scams can never be eradicated. L7 Trade boasts about its abilities all day long, but when it comes to keeping its firm afloat, they have to use the cash deposited by the new customer to pay out the older clients.
Obviously, due to the way the scheme itself is set up, it is designed to collapse as soon as the marketing campaigns yield negative returns. Once the pyramid is collapsed, before the dust settles the crooks will get away with their share of revenue and distribute the rest to the marketers and peddlers. As they mainly deal with cryptocurrencies, the average retail investor will not be able to track them down, and eventually they will give up hope.
Whenever the payments are made through wire transfers or debit/credit cards, the banks will show you the process of tracing the receiver, but for cryptocurrency transactions, they won’t be able to help. However, that doesn’t mean it is impossible. So, don’t accept defeat just yet, and understand that all you have to do is get in touch with a reputed recovery agency that has all the modern forensic tools to get the job done.
Is L7 Trade involved with markets in any way?
The connection with L7 Trade and markets is an imaginary one and that is the case for almost all the Ponzi schemes out there. Fake investment platforms and firms always use the trading narrative to take advantage of the newbie investor’s greed. The criminals know that most beginners are searching for holy grail strategies and as they don’t have much experience, they are the ideal audience who will believe the ridiculous narratives thrown at them.
If this company was involved with trading or mining, then it would have shown third-party audit reports and verifiable trading history on its website. The fact that they haven’t provided any proof means that they have no link to the actual markets and exchanges. After all, if their records were transparent, do you believe they would be pushing their services on the internet instead of running a hedge fund?
The owners of the licensed and regulated firm always are interested in maintaining a good relationship with the public as it affects their reputation directly. Over the years, firms have utilized a lot of ways and means such as hosting events, and free seminars to establish their authority and provide value to the customers before asking them for any kind of payment.
Now, we live in an online world, and while there are tons of opportunities it presents, there are huge downsides in the system as well. For starters, it is easier than ever before for anyone to fake anything they want. Crooks quite often pretend to be the know-it Gurus and their only job is to hype their audience into buying the things that are peddled by them.
At the end of the day, there will be nothing of value provided by them and the information put up by them is rarely verifiable. In other words, if they don’t share much information about their whereabouts and ignore the user experience aspect, then it is not worth it to proceed with them in any way.
Aggressive Marketing Tactics
All the fraudulent firms are coming up with new narratives only for one reason and that is to hustle the people. To get more eyeballs to their offer, a typical scam spends huge money on running advertisements and buying favorable reviews online. Sadly, they even run a few review sites too which only pushes favorable content towards them.
On the flip side, all of the promoters and affiliates also divert a lot of web traffic in exchange for fat commissions. In the end, the entire risk will be carried by gullible investors who don’t have enough knowledge about the mechanics involved.
Whenever you see a platform with no reputable background making big and bold claims and advertising itself everywhere, do not be inclined towards putting your money on them. Remember, the only way to make money in the markets is by having a mathematical edge and if anyone suggests otherwise, then he or she is most likely profiting off of you.
Whenever you are searching for reviews online, you need to be extra careful as one wrong move or judgment might end up costing you a lot. L7 Trade has earned itself a lot of positive reviews online and many shady websites are promoting them as they provide high commission rates.
Anyone who redirects web traffic to this platform gets paid as much as 20% of the total revenue gained by them. Due to the loopholes present in the system, people promoting these types of brands cannot be held directly liable and that’s why many people with access to web traffic are taking advantage of high-ticket offers like this one.
So, if you ever land on a platform that favors L7 Trade, then know that they are intentionally misleading you for big fat commissions.
Strangely enough, this platform hasn’t got many reviews online. The people behind the scam seem to be professionals and they know the ways to control negative comments about them online.
Nonetheless, we did find some dirt on them on Bitcointalk.org and below you can find all the information you need to conclude.
Hi there! Website is not working. Any news from the project?
Hope it is not final and people will not loose their money.
Looks like game is over now. All Telegram chats were buzzing about scam of L7 all the night. Many people lost their money.
How to Recover Bitcoin from L7 Trade Scam
The L7 Trade scam accepts money mainly in the form of cryptocurrencies. If you have ever indulged with them using traditional payment methods, then we highly suggest you block your old card and apply for a new one.
While raising a dispute with the credit card company can get you your money back if you have made the payment using the card, for the most part, it will be a hit or a miss. A lot of people are under the impression that cryptocurrencies are untraceable and as a result, they cannot be recovered, but that is not the case anymore.
Several reputable recovery agencies are helping people get their money back, but make sure to stick with the ones that are reputable for better results. Alternatively, you can use the form below to get in touch with our team and we will do everything in our power to assist you.
L7 Trade Review Conclusion
L7 Trade is a Ponzi program that will bite the dust sooner or later. Many regulatory bodies have issued warnings against schemes like this one and given their nature, the clients are guaranteed to end up with nothing in their pockets.
Moreover, this platform has already disabled their web address which means they are on the verge of taking everyone’s money with them and they will disappear forever shortly.
Were you involved with L7 Trade Trading platform? Are you looking for ways to get your money back from them? Fill out the form below and let our experienced team handle the rest for you.
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