USD Profit (usdprofit.net) is supposedly a world class investment platform which offers to provide an easy way for the investors to grow their funds without having to go through all the hardships involved in trading.
They have put details about all the persons involved with this firm along with the license documents but our investigation proved that they are all fabricated stories. This firm claims to yield returns of over 300% on a daily basis which is another lie.
Go through our full review to know why we are advising you to stay away from them.
Company and Support Details
USD Profit is an ICO which takes in money from the public for investment purposes and in return the investors are entitled to certain dollar figure value after the contract expires.
Firms which follow this model are required to hold certain certificates from regulatory authorities. When we were trying to find if this firm was licensed or not, we could not find any documents they should hold lawfully.
We have confirmed through FCA this company has never been licensed which means they are in direct violation of law.
The registration documents put up by these bunch of crooks is just merely a move to look legitimate but rest assured they are not supposed to accept money from anyone.
Here are the contact details of this firm:
Address – Henry Wood House, 2 Riding House Street, W1W 7FA, London, United Kingdom.
Many reputable firm puts the details of the fund managers publicly in order to maintain transparency.
This firm has put up the names of some of the alleged members involved with this firm but when we tried to find any information about them on the internet, there weren’t any which makes us believe that they are all imaginary personalities. Stop and think you a minute why would this firm put up so much fake information unless they have something to cover up?
How does USD Profit Work?
This company is said to be involved in trading stocks, gold, silver, oil, metals, mutual funds and cryptocurrency which is simply an effective trick used by them to attract every type of investors. They have not talked anything about how the funds are allocated between various asset classes.
There is no performance report of these self proclaimed experts so there is no possible way to find out what win rate to expect or the worst possible drawdown achieved by them. They state that they are involved with mining as well but there is no sort of credible proof to support that either.
The location of the mining farms and the equipment used by them are not stated. After looking at the lack of clarity it is better to avoid them because it is better to be safe than sorry.
Here is where things get bizarre. This platform offers investors returns of 300% which is unsustainable. Despite what strategy you choose there will be drawdowns and there is no way around that.
Have a look at the offers these crooks have put up:
Returns – 0.30% Daily
Period – 500 Days
Min. Deposit – $10
Returns – 2.5% Daily
Period – 365 Days
Min. Deposit – $100
Returns – 7% Daily
Period – 300 Days
Min. Deposit – $200
Returns – 10% Daily
Period – 250 Days
Min. Deposit – $250
There are 6 more investment plans but the above mentioned plans are the most popular plans which investors have fallen prey for.
All the ponzi schemes pay dire need to one department which is marketing. The amount of money they make depends on the number of innocent investors who fell for this scheme. To reach maximum number of people in a short while they encourage any individuals to promote their platform and pays heavily for every investor they bring in.
The affiliates get 5% of the cumulative deposit made by their clients and also are provided with some banners which will help them in their ad campaigns. It is not compulsory for the affiliate to have an active deposit in order to collect their payments.
Thanks to the courtesy of Whois.com we know that this domain was registered on 17/09/2015 and it expires on 17/09/2019.
A search on alexa.com will reveal that this website has a global rank of 982,039 and it ranks 30,938 in Iran. They roughly get more than 1 million visitors monthly. This service has gained noticeable traction in Iran, India and Russia.
Deposit and Withdrawal
The minimum deposit amount is $10 and the minimum withdrawal amount is $0.10. The e-currencies accepted by this platform are Western Union, Visa, Bitcoin, Payeer and PerfectMoney.
There is no information about transaction fees and whether it is applicable or not. The time taken for processing withdrawals is not stated in their FAQ section.
Is USD Profit Scam or Legit?
Let us go over the details as to why they are unreliable. Who ever operates this firm has put up too many fabricated stories while never revealing their true identity. The profits they claims to achieve are nothing but a bunch of lies.
Ask yourself if anyone found a way to make millions why would they offer it for free to the public instead of earning money for themselves? Simply put this whole platform is a swindle.
USD Profit Review Conclusion
USD Profit claims to be the best and the most profitable investment solution till date but the facts proves otherwise. Just like other fraudulent investment schemes they also have created a narration which closely resembles the reputable firms but on the other side their platform has enough false information to label them as scam.
Trading is just like any other profession unless you are acquiring education first, your chances of making money decreases. Do not trust firm like this one which promises to triple your money in less than a day’s time instead have realistic targets and invest only after have basic knowledge of the markets.