If you wondered whether PredCoin is a legit broker due to its long-time presence on the market, let us tell you this. Everything you read on their website is a pure lie, from alleged licenses to numerous cooperations with liquidity providers. Don’t be deceived.
All this and more will be exposed in our PredCoin review, so keep reading.
PredCoin is an anonymous brand with some bold claims. Allegedly, the firm has some Tier 1 and offshore licenses and cooperates with different companies in terms of liquidity.
Just to name a few, PredCoin regulation should be with the UK FCA and Australian ASIC. Since both have stringent demands and require high minimum capital, fund segregation, etc., we wanted to check whether PredCoin succeeded in complying.
As expected, the name PredCoin is nowhere to be found. In fact, we discovered that one authority had banned the domain, calling it an abusive financial intermediary.
Furthermore, if the firm actually had FCA and ASIC regulations, it would need to limit leverage to 1:30 per regulatory requirements. Additionally, it would need to offer the same leverage in the EU in compliance with ESMA. Yet instead, we got leverage up to 1:500 for FX pairs.
Our clients’ report has been the most powerful tool in our fight against online scammers. Don’t hesitate to share your story and help us expose the PredCoin trading scam.
PredCoin is an anonymous, unregulated trading brokerage. The firm has earned a regulatory warning from the Central Bank of Russia for scam activities. Their reputation among investors is relatively low.
As mentioned, PredCoin claims to have various licenses. Besides ASIC and FCA, they also mentioned:
Furthermore, they added names such as BlackRock, Inc. and Ameriprise Financial, Inc. to their list of cooperators. All this information should serve to build PredCoin’s reputation. Once exposed a lie, it crushed it instead.
According to it, PredCoin broker offers illegal professional financial services to Russian residents. This itself is enough to dissuade you from investing as your funds are at risk.
The PredCoin domain has been active since the 7th of August 2019. In the past 3 years, we’ve received a lot of complaints, with the majority being from:
This is just a partial list. The brokerage has also been active in other countries, illicitly onboarding customers with no regulations.
There’s only one PredCoin trading platform, a basic WebTrader. The firm offers the same software we’ve seen a number of times, with their own logo.
On the left side of the chart, you can find pending orders and trading history, while on the right side, you will see buying and selling prices and available leverage. Advanced features such as EAs or social trading are not integrated. Additionally, the software is entirely browser-based, meaning there’s no possibility for login from a mobile device through any apps.
The company doesn’t offer any third-party software like MT4, MT5, or cTrader. You’d get more TAs, advanced features, a customizable interface, and many other benefits with each. On top, MetaTrader cannot be easily manipulated like WebTrader, meaning there’s less space for broker malversations.
With broker PredCoin, you can find five major groups of trading instruments, such as:
The brokerage has a variable spread, ranging from 0.7 to 1.1 pips for EUR/USD benchmark. This is relatively lower than the industry average but seems favorable. Other commissions are not listed, so you’d have to ask broker employees about these.
While this may seem like a genuine offer, note that unregulated brokers tend to disappear suddenly with all their clients’ money.
If you’re still willing to deposit with this financial fraud, here’s an overview of PredCoin trading accounts.
Beginner account has lower leverage and basic perks, while Amateur brings crypto trading and deposit insurance. Those who upgrade to a Professional one can expect “protection of deposits” and 24-hour personal support.
Note: There’s no such thing as deposit insurance or protection. It’s a nice story to lure you into investing.
While a platform overview is possible, the PredCoin Demo account is not enabled. Once you want to open trades, you will see the following message:
“Insufficient funds in the wallet, please replenish it.”
Hence, risk-free trading is not possible. You’ll have to risk your own money to find out whether you can make any withdrawals. Small tip – you cannot.
Like many brokers, PredCoin runs a withdrawal fee scam as well. Namely, broker employees demand clients to pay non-existent fees when they submit a request. This, combined with the fact that the firm only accepts crypto payments, indicates that their goal is not returning your initial deposit or profits.
In fact, their idea is to take one last deposit under the name of bank transfer costs or taxes and freeze your trading account for good. Don’t accept to pay anything on top of what you already paid; seek help in case your withdrawal request is not approved.
While swindlers may try to convince you that crypto transactions are final and irreversible, it’s not quite right. Our CipherTrace experts can help you track the funds and create a detailed report for the authorities. Then, you can request a refund.
PredCoin is an unregulated trading scam. If you cannot get your money back, contact our CipherTrace specialists for assistance with crypto recovery.
The brokerage requires customers to pay the initial sum of $150.
Considering their illegal status and a warning issued in Russia, your funds are not safe with PredCoin.
PredCoin is an unregulated trading scam. If you cannot get your money back, contact our CipherTrace specialists for assistance with crypto recovery.
The brokerage requires customers to pay the initial sum of $150.
Considering their illegal status and a warning issued in Russia, your funds are not safe with PredCoin.
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