We now have a string of new forex brokers entering the market. They are presenting false accolades to get people into investing. They are also lying about their regulations to look like professional organizations. In reality, these companies have no regulations whatsoever. Their only goal is to swindle people off.
Marketcryptokings claims they are making trading easy for everyone. This may make you think they have the best trading conditions in the market. Additionally, you may think that this platform has professionals behind it. However, this is far from the truth. This company is a fraudulent firm operated by amateurs.
You need to do proper research before you invest your hard-earned money. Otherwise, you will lose your money to scammers who have no morals. Stick with us as we expose this company for what it is. In the end, you will see that it has nothing great to offer you. Let’s jump in.
This company promises clients access to over 200 trading assets. This is always a good thing. It allows investors to spread their risk of investment across different markets. On top of that, the company promises an easy to use trading platform. However, there is no real trading platform. There is no way to execute trades on this website.
Therefore, there is no reason to invest here. The company is only promising these things to attract customers. It cannot deliver on any of these promises. Moreover, what are they going to do with investors’ money if there is no trading platform?
We can tell that there are no professionals behind this company. Otherwise, there would be a trading platform. Moreover, professionals will ensure to provide a MetaTrader platform. That way, traders always have the best software at their disposal.
Further, there is little transparency on this platform. The company claims to offer trading education to clients. However, there is no introduction of the trainers. Additionally, there is no disclosure of their trading history. You may be taking trading training from failed traders. You are better off keeping your money in your pockets.
Another red flag is that this company doesn’t have customer support. The only way to get in touch with the company is via email. The live chat option does not work. You have to leave your contact details when you try to use it. Additionally, there is no phone number.
This is common in fraudulent operations. They always want to control all the communication between them and the clients. Eventually, they stop replying to the clients. They only reach out to clients when trying to convince them to invest more.
Marketcryptokings Investment Plans
This website has five main investment plans. These include the Basic, Bronze, Silver, Gold, and Platinum plans. The minimum investment for these plans is $250. This is a little higher than what you find in legitimate companies.
Furthermore, we see more lack of transparency in this section. The company does not reveal the spreads clients use in trading. This means that there may be hidden fees we do not know about. That is a huge red flag. No professional broker would leave out such important information.
Additionally, the leverage goes up to 1:500. This means that traders risk losing more in the market. You should not have to risk more money than you can pay. Such high leverage levels make trading similar to gambling. That is why the UK caps leverage at 1:50 for retail traders.
Marketcryptokings Regulation Status
To put it simply, this company does not have regulations. There is no regulator that oversees its operations. This makes the company an illegal entity in most jurisdictions. But the founders do not care about this. They simply want to rip people off and exit the market.
You should never invest in unregulated companies. Nothing good can come out of it. No professional broker operates without a license. Remember that regulators are there to protect investors from fraudulent operations.
Moreover, regulators ensure that companies have the right set up to protect client funds. This includes having enough liquidity. On top of that, regulators ensure that companies are using segregated accounts in Tier-1 banks. That way, your money is always safe from the company’s and the bank’s financial situation.
Is Your Money Safe With Marketcryptokings?
Unfortunately, the answer to that question is no. There is no way an unregulated company can assure you of your funds’ safety. There is no way to verify that the company has the right banking setup. Additionally, there is no way to confirm that the company has enough liquidity to protect client funds.
Even worse, there is no mention of systems’ protection. There is no mention of the software or hardware that these people use to protect their systems. The only thing they got going for them is an SSL certificate. Nonetheless, this is not enough to guarantee the safety of funds.
This means that you can lose your money in a number of ways. If the founders do not steal it, an unauthorized individual might. For your peace of mind, do not give these people your money. Furthermore, this is still a young company. It is better to wait it out before you invest.
The People Behind Marketcryptokings
It is always bad news when a company hides its founders. Here, we have no idea who the founders of this platform are. They are operating completely from the shadows. You should never send your money to mysterious people on the Internet. You will lose your investment, and you will have no one to turn to.
No professional broker sees the need to hide this information. Furthermore, revealing it only helps gain the trust of clients. There is no reason why a company wouldn’t do it. We can only conclude that such people are hiding from the law.
The only thing the company provides is the physical address of their headquarters. While this is good, they do not have regulations to operate from this location. Your money is not safe with these people.
The footer of marketcryptokings.com shows the lies the company is willing to tell to get people to invest. The copyright information purports that the company has been in operation since 2008. Whois.com records reveal otherwise. The website only launched on the 13th of February, 2021. This is not the end.
The company also presents a number of fake awards. We can tell that they are fake because they date back to 2014. Back then, the company did not exist. Do not believe anything you see on this website. Not even the customer testimonials. They are all fake.
This company is presenting fake information to attract customers. They are using a phony founding date, fake customer testimonials and fake accolades. While this is bad, it gets worse. The company does not have a regulatory license. There is no regulator overseeing their activities. These people will do anything to steal your funds.
Moreover, the founders of Marketcryptokings are anonymous. They are running the company from the shadows. They are hiding their identities because they are running an illegal operation. Any money you invest here will not come back to you.
You are better off investing in regulated companies that have years of experience in the market. Only such firms can help you make reasonable returns without compromise.
The article posted herein is published by members of this site. Any information you find on this article is base on the opinion and view of the publisher. You are at liberty to accept or reject this article and act base on your own perspective of the platform. You are encouraged to share your own opinion or views about the platform with us via the comments box below so as to further improve this article.
Team Reviewparking is no third party and we can't handle any queries whatsoever.