PredCoin Review: Be Careful With PredCoin.Com

After taking a look at PredCoin website, it shows that they do not fall under any regulating agency. That is a major red flag.  That should be enough for you not to invest with them.

And they also work with websites that offer “automated trading software” which is another red flag, as these kinds of websites are infamous for scamming schemes.

In other words, Predcoin is just another unregulated forex broker and just another investment scam. So, this PredCoin broker review will shine the light on their poorly done scam.

PredCoin Compliance and Safety

PredCoin broker is an anonymous brand with some bold claims. Allegedly, the firm has some Tier 1 and offshore licenses and cooperates with different companies in terms of liquidity.

Just to name a few, PredCoin regulation should be with the UK FCA and Australian ASIC. Since both have stringent demands and require high minimum capital, fund segregation, we wanted to check whether PredCoin succeeded in complying.

As expected, the name PredCoin is nowhere to be found. In fact, we discovered that one authority had banned the domain, calling it an abusive financial intermediary. so, it’s safe to say they are nothing more than just another scam and you should stay away!

Trading Platform at PredCoin

There’s only one PredCoin trading platform, a basic WebTrader. The firm offers the same software we’ve seen a number of times, with their own logo.

On the left side of the chart, you can find pending orders and trading history, while on the right side, you will see buying and selling prices and available leverage.

Advanced features such as EAs or social trading are not integrated. Additionally, the software is entirely browser-based, meaning there’s no possibility for login from a mobile device through any apps. Investing with scam brokers like this will only waste your money and time, so just avoid it.

PredCoin Account Types Available

In regards to the trading accounts PredCoin offers, we have found three types, which are the following:

• Beginner $150
• Amateur $1,000
• Proffessional $10,000

Beginner accounts have lower leverage and basic perks, while Amateur brings crypto trading and deposit insurance. Those who upgrade to a Professional one can expect “protection of deposits” and 24-hour personal support.

Deposit and Withdrawal Method

PredCoin only accepts Bitcoin and Tether deposits. That is to be expected since many scammers urge their clients to deposit in crypto for a few very specific reasons. First of all, such transactions are fairly anonymous and they can be traced to a certain wallet but not to a specific person or individual.

What is even more bothersome is that they are irreversible and you would never be able to get a chargeback if you have already deposited with this broker. That is why we think it best to not deposit with such fraudulent brokers in the first place.

How the Fraud was Perpetrated

Investment scams can differ, but in most cases, the fraudulent scheme is practically carried out in the same manner. They all lurk for the personal information people left on online ads and once they come in possession of it, the constant emails and calls will start.

Scam brokers are always unregulated but often claim to be or are just registered somewhere offshore, which helps them remain anonymous. If you open an account with such an entity, you should expect endless phone calls. Scammers will constantly try to approach you and make you deposit money as quickly as possible. Remember that urgency is always a bad sign, so it’s probably a scam if someone calls you twenty times per day, asking for money.

Keep in mind that even if the broker claims to have a license, like this one does, the regulation numbers they provided can be fake and need to be checked as well.

PredCoin Summary

In thisPredCoin review, we gave you a better insight into how this illicit broker operates. Not only are they unregulated and unlicensed but they falsely claim to be. Additionally, they claim to operate from Cyprus, but for brokers to be based there, they must have a license issued by CySEC which this one doesn’t.

PredCoin offers their customers an opportunity to invest in forex, CFD, crypto, metals and more. However, something as basic as their trading platform doesn’t function properly, indicating that you are dealing with a scam.

Lastly, they managed to get an official warning by the Central Bank of Russia for presenting themself as a legitimate broker.

In conclusion, we advise you to stay away from this and many other fraudulent brokers alike. And also remember to always read the reviews.

FAQs About PredCoin Broker