CoinLux claims to be a Switzerland based investment company which is set to have a diverse portfolio including cryptocurrency trading and mining. They state that they are operational from 2013 but the facts dictate otherwise.
The advertise returns of this program is more than 300% after 4 days which we all know is highly unlikely to achieve on a regular basis. Like most fraudulent investment firms this platform also does not feature any details about the owners.
To avoid losing money to them and to identify the factors because of which we are advising you to stay away from them, continue reading our complete review.
Company and Contact Details
Laws laid down on firms which offer financial services are very strict in general. CoinLux is an ICO which raises capital required for maintaining a wide range of co-related assets and portfolio from the investors.
After the time period of the contract ends the investors are entitled to some amount of profits along with their starting capital amount. When we were looking at the legal aspect of this company, we could not find any paperwork which hands them the right to trade or invest on someone’s behalf.
Also this platform has not featured any details regarding their legal documentation which must be in their possession which clearly proves that they are a bunch of scammers operating from the shadows. There are few contact details put up by them which are nearly an attempt to mimic the transparency concept. Here are the contact details:-
Address – Bahnfosstrasse 26, 80001 Zurich, Switzerland.
Phone – + 41313279101
How does CoinLux work ?
CoinLux states that it is involved with trading all the popular financial instrument like Forex, Stocks and even Cryptocurrencies but in reality they are just trying to get every type of investor’s attention by featuring variety of assets at once.
There is no valuable information regarding them trading approach is put up. The investors are kept in dark with regards to allocation of the funds and are not briefed about what set of rules they follow before executing a position.
As far as mining goes there isn’t detailed information about what scripts they use and their margin of profit derived from mining opportunities. Cryptocurrencies are very volatile in general and if proper attention is not given to money management and risk profiling methods, chances are it will hurt your wallet.
With so many basic question left unanswered by them, how can they hope to earn your trust ?
Auto trading and black box method of trading exist for over a decade now. Though they make the trader work easier they too have certain limitation. These criminals claim to generate a returns of 300% which is certainly enticing and captivating but that is a cheap trick used as a bait to loot everyday people.
Here are the complete details of the contracts:-
Returns – 125%
Duration – 24 Hours
Min. Deposit – $15
Returns -150 %
Duration – 2 Days
Min. Deposit – $200
Returns – 220%
Duration – 3 Days
Min. Deposit – $500
Returns – 300%
Duration – 4 Days
Min. Deposit – $1,000
Ponzi schemes are structured in such a way wherein only the investor is exposed to risk financially. This service houses an affiliate program wherein they pay individuals or a group of marketers significant share of the revenue this firm makes from every investors referred through them.
The commission percentage ranges from 2% to 10% of the total investment affiliates bring in and they are even assisted with some helpful marketing tools. The promoters need not invest their own money into this scheme.
This domain was registered on 02/09/2018 and it expires after one year according to whois.com. As this website is only 5 days old as of publishing this review we do not have enough data to find out the regions they are targeting and their promotional plans.
Also there is no registrant information available as these crooks are using privacy services to cover up their details.
Deposit and Withdrawals
The minimum deposit amount is $15 and the minimum withdrawal is $0.10. The e-currencies accepted by them are Bitcoin, Ok Pay, Perfect Money and Neteller.
Depending upon the withdrawal method there might be transaction fees imposed. The time taken for processing withdrawals is not specified.
Is CoinLux a Scam ?
A mundane one,
This firm is operating without any kind of authorization while following every type of unethical methods commonly seen in fake platforms. They are neither involved with trading or mining and not to mention there isn’t any supporting materials which can justify their claims.
Furthermore the details of their mining farms are strictly kept confidential. They are reluctant to provide the users with demo accounts and they do not even have the courtesy to reveal the names of their so called expert trading professionals. All these points clearly proves that this firm is not the one any investor should indulge with.
CoinLux Review Conclusion
CoinLux is just another ponzi scheme which poses as an ICO. Their narration is not convincing and the disturbing facts we found during our investigation about this platform surely cannot be overlooked for any reason. In order to earn money these fraudsters go to extreme lengths and even create back stories of their lives.
Anything can happen in the financial market at any time unless an individual follows proper risk management measures the chances of making a consistent stream of income drops down and even then 300% ROI every 4 days will be a dream.