PredCoin Review – An Anonymous Broker with No Valid Trading Credentials

Whether you are a beginner or an experienced trader, if you have come across the PredCoin broker, don’t fall for a pack of lies coming from this fraudster. At the first sight, PredCoin seems like every other brokerage firm out there. 

However, under the surface, it is a barefaced liar. Firstly, it tricks people by pretending to be registered in Cyprus and licensed under several financial market regulators. Then, this fake broker renders unprofessional services based on inadequate trading software, unsafe funding methods, misrepresented terms of exchange, and other dirty tricks. Please continue reading the PredCoin review and find out all the reasons why it is risky to trade with unregulated brokers.

Is PredCoin Сontrolled By Financial Regulators? – The Truth About The Licenses

In terms of regulations, PredCoin is not only an unlicensed brokerage company but an online trading scam debunked by the Russian Central Bank. Also, this fraudulent broker fools traders by impersonating a legit business. 

According to its website, its headquarters is in Cyprus and is allegedly authorized by the Australian ASIC, British FCA, Cyprus CySEC, South African FSCA, Dubai DFSA, and Belize IFSC. This statement is nothing but a big fat lie. By simply checking the registers of the foregoing financial authorities, it can easily be refuted. 

PredCoin has no valid trading credentials. Moreover, this bogus broker misleads people by claiming to be based in Cyprus and regulated by several financial authorities. In reality, PredCoin is anonymous and blacklisted by the Russian Central Bank, provides poor services, and is not authorized to operate anywhere. 

Arguments for Trading With a Licensed Broker

Unlike investing with PredCoin, trading with a licensed broker has many benefits. This shady brokerage firm can’t protect your funds but puts them in greater danger. On the other hand, a forex provider genuinely accredited by tier-one supervisory bodies (ASIC and FCA) can not just keep your investment safe but minimize inherent trading risks. 

With such companies, your interests are ensured with risk management tools like negative balance protection, segregated accounts in major banks, and compensation programs (100,000 AUD by ASIC and 85,000 GBP by FCA). 

Warnings From Financial Regulators As a Red Flag About Scam

As mentioned, the Russian Central Bank (CBR) has issued a warning against PredCoin. The CBR monitors and controls the financial markets in Russia. Therefore, you should not pay attention to the offer coming from this proven fraud. Remember, trading is risky, but with unauthorized companies, it is even riskier.

PredCoin Available Online Trading Platform & Tools

Despite the fact PredCoin professes to provide state-of-the-art technology, its trading software is based on a weak web trader. Aside from being limited to browser-based trading, this trading platform has generic features. As a result, it can’t provide a convenient and profitable trading experience. 

By contrast, market leaders offer advanced programs like MT4, MT5, cTrader, and Sirix that can actually ensure success with cutting-edge tools such as stop loss, automated trading, and social trading.

Can Access The Trading Platform From Any Device?

Furthermore, the PredCoin web trader can’t ensure suitable trading from all devices. As said, it is an internet-based trading platform, which is not bad, but it certainly limits your user experience. 

By comparison, modern trading platforms are intuitive and versatile. In other words, regardless of your level of knowledge, you can trade easily from smartphones (via a mobile trading app), desktops (through computer software), and search engines.

Which Assets Can The Investor Trade?

As for PredCoin trading instruments, a trader can reportedly access the following markets.

• Forex: AUD/CAD, USD/HUF, EUR/GBP;
• Metals: silver, nickel, gold;
• Stocks: L’Oreal, Alcoa Corp, BMW;
• Commodities: crude oil, natural gas, sugar;
• Indices: DAX 30, CAC 40, Dow Jones;
• Crypto: Ripple, Tether, Ethereum.

No matter the number of tradable assets, it can’t be trusted this brokerage company. Even if we ignore that PredCoin is cyber fraud, it doesn’t have the required resources to ensure safety and profitability. Having said that, with a lack of risk management mechanisms, no adequate trading program, and poor trading conditions, failure is inevitable with PredCoin.

Where Does PredCoin Engage In Fraud? – Countries Of Service

Regarding where the PredCoin scam operates, it is scamming traders from

• Germany
• France
• UK
• Sweden.

As you can note, this scam is focused on traders from Europe. For reference, if you are based in any of these markets, trade with forex brokers certified by BaFin, AMF, FCA, and FI. Also, if you come across the PredCoin offer, avoid it like the plague.

And first, read our reviews of StateHills, BitAurox, and XpresTrade. They are putting your money at risk!

Trader’s Reviews of PredCoin

Going through online PredCoin reviews, you will notice that victims have withdrawal issues. As expected, this financial swindler doesn’t let you make withdrawals. Nonetheless, getting your money back is possible with professional help. But more about this will be discussed later. Once more, don’t let this scammer entice you with its lucrative opportunities.

What Are the Different PredCoin Account Types?

Regarding the PredCoin account types, here is a quick overview.

• Beginner: 150 USD starting deposit, 1:100 leverage;
• Amateur: 1,000 USD starting deposit, 1:500 leverage;
• Professional: 10,000 USD starting deposit, 1:500 leverage.

If you compare these accounts, you will notice that it resembles every other investment scam. Typical for fraudsters are hefty sums for opening balance and terms that go against the legislation. More grounds for giving a wide berth to PredCoin.

PredCoin Provides a Demo Account Option?

When it comes to demo accounts, they are rarely available on manipulative trading platforms. 

Similarly, PredCoin doesn’t provide traders with a free practice account. As the name implies, this option allows you to test the trading environment and pick strategies with no cost or risk. For a demo account, you need to look for a credible broker.

Bonuses As a Method of Fraud

Another common thing for bogus brokers is generous bonuses. This malicious tactic is employed to draw people’s attention and defraud them. For this reason, promotions are forbidden in many jurisdictions. 

However, PredCoin provides rewards that come with strings attached. Hence, terms of bonuses are at the whim of this con artist. If you want to enjoy fair conditions regarding bonuses, it is only available with legitimate brokerage services.

About Leverage, Spreads, and Fees

As indicated, the maximum leverage at PredCoin is 1:500. Although the higher ratio enables better earnings, it must be treated carefully. That is why leverage is restricted in many markets. 

For example, it is 1:20 in Cyprus (an alleged country of registration of PredCoin). Concerning spreads and trading commissions, PredCoin is not clear about them. Anyway, its trading conditions are useless since are based on misinformation and fabrication to rope you into investing.

High Minimum Deposit and Withdrawal Terms

Speaking of the minimum required deposit, PredCoin demands 150 USD for its beginner account. Even though you start trading, there are no money withdrawal guarantees with illegal brokers. 

Once you make deposits, this scam artist will make any excuse to prevent you from drawing funds out. Thus, why put your finance on the line when you can open a live trading account with a leading FX broker for as low as 1 USD?  

Payment Methods Available

With reference to means of payment, keep in mind that fraudsters push for unsafe funding methods like crypto wallets. In the same way, PredCoin doesn’t support secure credit/debit cards and wire transfers. 

Instead, it accepts crypto payments. That is because it is challenging to trace and reverse digital currencies. Consequently, scammers frequently employ this tactic. 

Scammed by PredCoin Broker? – Allow Us to Hear Your Story.

Assume you are one of the unsuspected victims of the PredCoin scam. In that case, you should act immediately. Firstly, make sure to report scammers. Then, don’t forget to leave negative reviews about the broker. Lastly, you can apply for cashback, depending on the funding methods. Importantly, trade only with brokerage companies that are 100% safe.

What Is the Process of Chargeback?

In the matter of retrieving your misappropriated funds, the chargeback process correlates to the way how you have made a deposit. For instance, with VISA and Mastercard, you have a 540-day deadline to apply for and get a full refund. As to bank transactions, bear in mind that they can be terminated unless you confirm a transfer. 

In relation to crypto payments, they are most difficult for chargeback and require professional expertise. While on this subject, get in touch with our chargeback specialists and get your money back today.