Investing in financial markets can be an enticing prospect, but it’s essential to approach such opportunities with caution. Live Binary Trade (livebinarytrade.com) is a live investing platform gaining much attention with its attractive website layout and services.
This article aims to evaluate Live Binary Trade, helping you determine whether it is trustworthy to believe the claims made by the company and whether it is advisable to entrust your funds to them. Read along to learn more.
About the company
Live Binary Trade is an asset management platform that promotes itself as a provider of binary options and live trading services. Binary options are financial instruments that allow investors to speculate on the price movement of various assets, such as stocks, commodities, or currencies. These options have a fixed payout and expiration time.
The website claims to offer live trading services, allowing investors to execute trades in real time and potentially profit from market fluctuations. They highlight the importance of transparency and trust in client relationships, emphasizing that they conduct business openly and adhere to legal regulations.
However, it is crucial to approach binary options and live trading with caution. The binary options market is known for its high risk and speculative nature, with the potential for significant financial losses. Regulatory bodies in some jurisdictions have raised concerns about the binary options industry due to fraudulent practices and misleading information.
While the website highlights a diversified hedging system as part of its offerings, it is essential to independently verify these claims and gather more information about the company’s background and operations before considering any investments.
Live Binary Trade Investment Schemes
Live Binary Trade offers a range of investment schemes. Here is a detailed overview:
- Starter: The Starter investment scheme targets individuals looking to invest between $300 and $5,000. Under this scheme, it claims to provide a weekly profit of 30% on the invested amount.
- Basic: The Basic investment scheme is available for investors between $5,000 and $20,000. With the Basic plan, the website offers an instant 20% cashback profit on the first deposit, along with subsequent weekly earnings of 40%. The cashback feature on the first deposit is intended to incentivize investors to join the scheme.
- Gold: The Gold investment scheme targets investors with a higher capital range, specifically between $20,000 and $50,000. Investors who opt for the gold plan receive a 40% cashback profit on the first deposit and subsequent daily earnings of 15%.
- Mega: The Mega investment scheme is designed for individuals who invest between $50,000 and $100,000. Investors under this plan receive an instant 45% cashback profit on the first deposit and subsequent daily earnings of 22%.
- Diamond: The Diamond investment scheme is for high-net-worth individuals investing between $100,000 and $1,000,000. Investors in this scheme are promised an instant 50% cashback profit on the first deposit and subsequent daily earnings of 30%. The Diamond plan offers the highest daily profit percentage, potentially appealing to investors seeking significant returns.
Live Binary Trade makes several claims that are intended to attract potential investors.
- They emphasize a long-term focus on the interests of investors, financial markets, and the environment.
- Capital preservation and receiving appropriate returns for the risk taken are also highlighted.
- Additionally, it asserts that they bring talent and proficiency to every deal, promoting a unique culture and long-term success.
However, it is essential to critically assess these claims and seek independent verification before making any investment decisions.
The website mentions the following contact information:
- 1099 Wall St W 179, Lyndhurst, USA
- +573-454-1736 (a Missouri, USA number)
The platform also links its social media profiles, but they are non-functional or inaccessible upon closer inspection.
Live Binary Trade Reviews
On April 25, 2023, a New York, New York, United States person who reported being scammed for $520 left the following Livebinarytrade review with the BBB (Better Business Bureau) regarding this cryptocurrency scam:
During a trade, I was informed that the transaction was successfully completed, and I was assured that my withdrawal would be processed soon. However, unexpectedly, I was charged a late fee of $520 by the scammer. After making the payment, I patiently waited for the withdrawal. To my dismay, I received a notification stating that the withdrawal was initially deposited but then reversed. Now, the scammer is demanding an additional $2000 from me.
The complainer provided the following information regarding the scammer:
- Location: Lyndhurst, New Jersey, USA
- Email: Support@Livebinarytrade.Com
- Phone: +573-454-1736
- Website: Livebinarytrade.com
How to protect yourself?
Safeguarding yourself when engaging with investment platforms like Live Binary Trade is paramount to protecting your finances and personal information. Here are several fundamental steps you can take to ensure your protection:
- Educate Yourself: Learn about cryptocurrencies, blockchain technology, and the underlying factors influencing their value. This knowledge will help you make better investment decisions.
- Diversify Your Portfolio: Spread your investments across different cryptocurrencies rather than putting all your funds into a single digital asset. Diversification helps mitigate the risks associated with the volatile nature of cryptocurrencies.
- Set Realistic Goals: Define your investment goals and establish a clear strategy. Determine the amount of risk you’re willing to take and the investment timeframe.
- Use Reputable Exchanges: Use well-established and reputable cryptocurrency exchanges when buying or trading cryptocurrencies. Research and compare different exchanges to find those with robust security measures and a good track record.
- Secure Your Wallets: If investing in cryptocurrencies, consider storing your digital assets in offline wallets like hardware wallets. These offer enhanced security by keeping your private keys offline and avoiding potential cyber threats.
- Be Cautious of Scams: Beware of fraudulent schemes, Ponzi schemes, and suspicious investment opportunities promising unrealistically high returns. Exercise caution and skepticism when dealing with unknown platforms or individuals.
Live Binary Trade Conclusion
In conclusion, unrealistic promises and guaranteed high returns within short time frames should raise immediate concerns. The investment schemes promoted by Live Binary Trade, such as the promised weekly profits and cashback incentives, should be scrutinized meticulously.
If you have fallen victim to this scam, please share your experience by commenting below.
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