What is Fivatrade and is this company the real deal? It’s pretty unfortunate that this polished and enticing website is actually a trap meant to attract unsuspecting traders.
We have plenty of evidence against this fake company and it’s all here in our Fivatrade Review. Arm yourself with the knowledge of how to detect online investment scams and what to do in case of withdrawal issues.
Instead, find a licensed provider that’s regulated by a renowned financial market authority such as the FCA, for instance. Other reputable regulators include the CFTC & NFA (US), BaFin (Germany), IIROC (Canada), ASIC (Australia), CySEC (Cyprus), MAS (Singapore), etc.
This is a real scam website. I joined a trading discord group and an imposter messages you as the group admin and says he can connect his account via Fivatrade and make your account grow… Please, stay away from this SCAM website. The numbers you see growing in your account and the screenshots of that imposter showing his daily gains of 50k-100k are all fake. Do not fall for this.
Based on what we read in the reviews, Fivatrade uses cunning manipulative methods to deceive unsuspecting clients. The company is unregulated, meaning that all the services it provides are illegal.
When it comes to finding clients, the company is pretty active on social media platforms such as Instagram, Facebook, Twitter, etc.
If you’re a victim of the Fivatrade scam, book a free consultation with us. We can help you in the fund recovery process.
Fivatrade lied about being founded in 2013 in order to convince people that this is a long-standing business. In reality, the website was created in March 2023, and it didn’t take long for the German BaFin to detect the scam and issue a warning against the fraudulent company.
According to Fivatrade’s website, the company offers four classes of investment plans for various levels and investment products. Here’s an overview:
All of these accounts charge the same trade commission of 10%. These investment plans seem pretty lucrative but we honestly doubt their legitimacy. Remember, the scammer promises quick profits in order to seize all clients’ funds.
If you lost money to the Fivatrade Scam, please contact us for help. We can help you recover your funds.
Here’s an overview of Fivatrade’s investments products, per the website:
We aren’t going to go into detail about each and every one of these products as that is a topic for another discussion. What we will say is that Fivatrade offers Forex, as well as copy trading. The company promises traders major, minor and exotic FX pairs and CFDs on indices and commodities.
Fivatrade did not mention a trading platform or any specifications related to the technical aspects of trading. But the company did transparently disclose all the spreads and commissions for each instrument.
Surprisingly, Fivatrade has stuck with the legal regulatory leverage caps in force in the EEA zone – a maximum of 1:30 for retail clients. The company also offers 1:100 for professional traders.
As for the Fivatrade fees, i.e. spreads & commissions, for the benchmark EUR/USD currency pair, Fivatrade offers floating spreads from 0.3 pips and charges 8 $ per lot, which is pretty much what other average brokers offer. More reputable providers offer even better conditions, i.e. charge less.
Although the trading conditions seem decent and acceptable, we must once again reiterate that Fivatrade is not a regulated company, meaning that all your funds can easily disappear in suspicious circumstances.
For that reason, we recommend you seek out professional help in choosing the right provider for you. We can help you there.
Fivatrade’s website and legal documentation did not reveal a single thing about the payment process. We know nothing about the available deposit and withdrawal methods, fees, or processing time.
All we do know is that the Fivatrade login page has a referral code option, meaning the company could be running a Ponzi scheme so be careful.
As for the payment methods, we assume Fivatrade included the basic ones – credit/debit cards, wire transfers, e-wallets, and cryptocurrencies. The minimum deposit is 1,000 USD while the minimum withdrawal amount was not disclosed.
To sum up, Fivatrade is an anonymous investment scam pretending to be a legitimate company. This scam was exposed by the German regulator BaFin. The main target of this scam are traders from the US, the UK, Canada, and Germany.
If you fell victim to this scam, contact us for help. We can assist you with the chargeback or recall process if you’ve deposited funds via credit/debit cards or wires, or even trace your crypto transaction using CipherTrace. It’s important that you act quickly and not waste any time.
Let us know if Fivatrade scammed you.
Fivatrade is an anonymous investment scam that pretends to provide legitimate investment and trading services.
No. This company doesn’t exist anywhere. To make matters worse, the website was flagged as a scam by the German BaFin.
Absolutely not. If you already deposited your funds and cannot withdraw them, contact us for help.
Fivatrade did not say anything about any deposit or withdrawal fees. The website only mentions a 10% trade commission.
The post Fivatrade Review: A Captivating Website To Conceal True Intentions appeared first on Global Fraud Protection.
