ETH7.biz is a private venture organisation run by a team of self proclaimed investment experts who have maintained complete anonymity. They claim to be active for more than 7 years but the facts proved otherwise. This firm is said to generate returns of more than 2,500% after 15 days through Forex and Cryptocurrency trading.
The return claims are outright lie and a major red flag which caught our attention. Furthermore there are many more questionable practices we found on our investigation. To save yourself from a ton of regret, read our complete review to know all the lies and deceptive information spread all across this platform.
Company and Contact Details
Regardless of where a firm is located, investment companies have to follow and comply rules laid down by regulatory authorities. ETH7.biz is an ICO wherein funds required for trading forex exchange and cryptocurrency is raised by a group of individuals and later on depending upon the terms of the pact, the investors are entitled to some predetermined amount of money.
While we were trying to find if this firm is legally competent to carry these type of activities, the evidence clearly points south. We have confirmed through FCA this firm has never been licensed thereby are fugitives from law.
This platform features a registration certificate on the website, do not get confused by that but rather understand that they are just trying to seem reputable and reliable in front of the potential participants.
Here are the contact details put up by them:-
Address – 85 Great Portland Street, London W1W 7LT, United Kingdom
Email – [email protected]
How does ETH7.biz work?
This company is supposedly run by a group of merchants who give speculation administrations around the world. They state that their main source of revenue is generated from Forex and Cryptocurrency trading. According to them, the main factor which effects their trading bias is liquidity, this explanation is absolutely meaningless.
Liquidity affects the volatility and spread of the underlying assets and has nothing to do with creating a bias. Their ridiculous explanation clearly proves that these so called experts have no knowledge about trading and are just bluffing. Any of the actual methods of analysis is not revealed and their claims cannot be verified as they do not provide us with any trading account history.
In reality we do not know their win rate and the draw downs they hit on a regular basis. The lack of clarity definitely is a big concern which tells us, this platform should not be trifled with.
Cryptocurrency as many people already know are the hottest trend in the human history. Currently exceeding over several billion dollars in market capital. There are many ICO’s which are popping up very frequently. The Forex market gets an estimated volume of 5 trillion dollars every single day.
These kind of conditions open up an ocean of opportunities but if you are not equipped with the right kind of knowledge then you cannot capitalize on that. This firm claims to yield returns of over 2,500% which is just outrageous. Never fall for these easy money claims. Take a look at the investment contracts offered by them and don’t forget to laugh.
Plan 1 – 20% Hourly for 6 Hours
Plan 2 – 650% After 5 Days
Plan 3 – 1,400% After 10 Days
Plan 4- 2,500% After 15 Days
The only thing which every scammer orchestrating a ponzi scheme loves is to get hold of your money and they are prepared to go to extreme lengths to do that. This company pays online marketers certain percentage of the cumulative revenue gained from the investor, they referred to the service.
Since marketing is crucial for the success of this fake investment platform, they even offer some custom tools to help affiliates in their campaigns. Just like we anticipated this firm does not require the affiliates to hold on active account with them in order to get paid, simply put the only person at loss will be the investors.
Thanks to whois.com service, we know that this domain was registered on 19/07/2018 and it expires after exactly one year. Since this website is very new, we still do not know which regions they are trying to gain traction. According to alexa.com this website has a global rank of 8,429,783.
Deposit and Withdrawal
The minimum investment amount is $1 and the minimum payout is $0.10. The payment methods supported by this platform are Perfect Money, Payeer and Bitcoin. There might be fees associated with Bitcoin transaction but other methods are said to be free. The time required for them to process withdrawals are unknown.
Is ETH7.biz a scam?
An obvious yes,
An investment firm should always feature two important characteristics which are transparency and reliability unlike this company which lacks both. There are no information about the persons handling the fund and not to mention, they are unregulated which nullifies the chance of getting back your money.
Since they also refuse to provide users with demo accounts, there is nothing which boosts our confidence to continue with their platform but be warned if at anytime things get out of hands like your withdrawal gets rejected or your account gets frozen you cannot do anything about it. So, ask yourself is it worth the risk?
ETH7.biz Review Conclusion
ETH7.biz is a confirmed ponzi scheme. There isn’t any legit investment firm on earth which can give you assured returns of 5,000% monthly. If that was the case then anyone would earn trillions of dollars in a matter of months but those type of scenarios does not happen in the real world.
If anyone is trying to convince you to join this platform then he/she must be connected with them in one or the other way. Get rid of any shortcuts and easy gateways of getting rich offered by online cyber criminals instead if you treat trading like a profession and want to achieve true financial freedom then get started by knowing the basics of the market or if you are some who is looking for a secondary source of income then cloud mining might be more suitable for you.
Did you lose money to ETH7.biz? Share your feedback by leaving a comment below.
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