Defitrade Review

Have you ever been tempted by promises of quick profits and expert trading? Be careful, as this is often a trap for financial scams, like Defitrade. Let’s review why you should avoid them.

Key Points

• Defitrade’s Dubious Legality
• False Claims of High Profits
• Fake Team Credentials
• Similar Scam Websites
• Investment Red Flags

Overview

• Website: defitrade.ltd
• Company Name: Defitrade LTD
• Address: 16 Hoxton Street, Islington, London, UK, N1 5LG
• Email: support@defitrade.ltd

Team Credentials

The team members’ photos on Defitrade‘s website are stolen from the internet, a major red flag. A simple reverse image search shows these photos are of real people unrelated to Defitrade.

Scam Network

After investigating, I found that Defitrade is connected to other scam websites, including:

• Cryptogolds
• JW Token
• Celadoncoin

These sites exploit the hype around NFTs, Token and crypto games to lure investors.

Is Defitrade Legit or a Scam?

Defitrade Ltd claims to be a legitimate investment company based in the UK, but this is far from the truth.

They falsely claim,

Defitrade.ltd Ltd is a totally legal investment company incorporated in the United Kingdom. Reg. number: #13272005.

The company was dissolved on December 27, 2022, and has never been authorized to offer financial investments by the FCA.

Additionally the UK’s regulator issued a warning on July 31, 2024, stating:

Defitrade might be promoting financial services without proper permission. This firm is highly suspicious and should be avoided.

Services Offered by Defitrade

Defitrade advertises itself as a cryptocurrency and Forex trading company and here are the details of the services they claim to offer:

They promise steady hourly income, which is highly unrealistic and a common sign of a scam.

Deposit Methods

The company supports a range of crypto payment methods, including:

• Perfect Money
• Bitcoin
• Litecoin
• Ethereum
• BitcoinCash
• BitcoinGold
• Dogecoin
• Dash.

They claim that withdrawal requests are processed instantly, with a minimum withdrawal amount of $0.10 and no maximum limit.

This is designed to give the illusion of liquidity and reliability, but it’s highly unlikely to be true.

Investment Plans

Defitrade offers several investment plans with incredibly high returns, such as:

• Basic Plan: 20% return after 1 day, with a minimum investment of $50 and a maximum of $499.
• Standard Plan: 35% return after 2 days, with a minimum investment of $500 and a maximum of $999.
• Unlimited Plan: 65% return after 3 days, with a minimum investment of $1000 and a maximum of $100,000.

These returns are highly unrealistic and indicative of a Ponzi scheme.

Referral Program

They offer a referral program with commissions ranging from 2% to 10%, depending on the investment plan.

This is another red flag, as it shows they rely on recruiting new investors to pay existing ones, a classic sign of a pyramid scheme.

Conclusion

Defitrade is a clear example of a financial scam, targeting unsuspecting investors with false claims of legitimacy, high returns, and professional expertise.

Here are the major red flags to watch out for:

• Dubious Legality: The company’s dissolved status and lack of FCA regulation.
• Unrealistic Profit Promises: High, stable profits that are simply too good to be true.
• Misleading Team Credentials: Stolen photos used to fake legitimacy.
• Connections to Other Scam Websites: Linked to other fraudulent sites exploiting NFT and crypto game hype.
• Suspicious Services: Unrealistic investment plans, various payment methods, and instant withdrawal claims designed to create a false sense of security.

These points all indicate a well-crafted scam. Potential investors should avoid Defitrade and be cautious of similar schemes.

Always do thorough research, verify regulatory credentials, and be wary of offers that seem too good to be true.

FAQs