EnvoyFx (EnvoyFx.com) is a cryptocurrency fund raiser and an asset management company which supposedly provides any individuals an opportunity to consistently profit from the fluctuation in the crypto market. There are no details about the owners of this firm which is apparently due to the fact that they are aware of the illegal things they are indulging with.
They promise the investors returns of up to 119% after just 19 hours. As many of you already tell this platform is a glorified scam which is relentlessly trying to lure people by promising huge profits. To find out everything about this swindle continue reading our full review.
License and Support
Asset management is one of the most strictly regulated activities on the planet. Since the early 1980’s rules laid around the firms which deal with other investors money are getting strict but sadly the scams couldn’t be eliminated just yet. EnvoyFx is an ICO which raises funds to setup mining farms and trade cryptocurrencies.
We checked the FCA database to see if this firm is truly licensed but as it turns out all their licenses claims are just a bluff.
There are details of their registration put up on their platform but do not get carried away by that. Registration certificate from UK is very easy to get hold of which is why many fake platforms have them but that does not mean they are legitimate. Below are the contact details put up by them:-
Address – 54 Rose Avenue, Nether Poppleton York, YO26 6RU, United Kingdom
Email – [email protected]
Phone – +44 203 389 7363
How does EnvoyFx work ?
This firm states that it is involved in two major aspects of cryptocurrencies which are trading and mining. They have put up few details which may convince newbies regarding their mining operations but any crypto veteran can easily see through those lies.
Below are the details of the data center location put up by these bunch of fraudsters.
USA Data Centers
Douglas Country, Georgia, The Dalles, Oregon
Asia Data Centers
Singapore, Changua Country, Taiwan
Europe Data Centers
Hamina, Finland, St Ghislain, Belgium, Dublin, Ireland
Since the exact address is not provided we believe that they are all non-existent. There is no information about the costs they incur, break even point and the profit margin which are all key stats required to determine their revenue.
As far as trading is considered, there is nothing to take about it either. Their approach to trading is not mentioned and just like we anticipated they have not featured any verifiable trading history to prove their winning rate. In short they do not have anything worthwhile to offer the clients.
Plans and Returns
Looking at the guarantees this platform makes you do not have to work another day in your life but we all know that it is too good to be true. No legitimate asset management in the history can match the kind of return these con-artists are offering you, Here are the details of the plans:-
Returns – 104%
Duration – 19 Hours
Min. Amount – $100
Returns – 111%
Duration – 19 Hours
Min. Amount – $500
Returns – 119%
Duration – 19 Hours
Min. Amount – $1,000
Every ponzi scheme needs an adequate supply of new participants on a consistent basis failing which they will have to get shut down. To make their revenue grow they offer partner program. The deal between them and the affiliate are set in such a way that both the parties get enough benefits for their efforts.
Commission percentage ranges from 1% to 10% and if an individual promotes them beyond certain milestone then they will get promoted to representative level. Basically everyone will make money except the investors.
With the help of whois.com and Alexa.com we got the following details about this website but unfortunately we couldn’t trace the identity of the owners or find their contact details
Domain – EnvoyFx.com
Registration Date – 25/01/2018
Expiration Date – 25/01/2019
Alexa Traffic Rank – 6,668,143
Is EnvoyFx a Scam ?
An undeniable one,
Their operational model is exactly a confirmed fraud. Remember they are not unregulated but also illegally operating. They do not have the courage to provide the clients with any withdrawal profit or embrace transparency.
Mining was one of the lucrative ways of making money couple of years back but now there is no way to earn reliable income from it, not to mention the number of obstacles involved in setting up and maintaining the mining rigs.
EnvoyFx Review Conclusion
The exact word which can be used to describe this platform is disappointment because that is what it has caused to many people who invested money into this scheme. They are rumored to have paid few clients but the fate of the ponzi is always disastrous.
Seems like they couldn’t keep up finding new entrants and as a result the deposit value declined than the withdrawal value causing them to run away with the money. It does not matter what profits they promise to make if it involves unregulated firms then be bold enough to pass upon those type of opportunities.