LegalCoinFX Review: A Pesky Crypto Platform

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LegalCoinFX Review
  • Compliance and Regulation
  • Deposit Safety
  • Technical Support
  • Trading Platform
0.8

Summary

There’s an issue with cloned platforms; LegalCoinFX is one of them. The platform decides investors into believing it’s an open platform. No investors has made withdrawals from the platform. Here’s our engaging legalcoinfx.com review.

LegalCoinFX is a Replica of another crypto scam, Nano Crypto FX. And this leads us to believe both these platforms belong to the same scam group. Your investment is far from safe with such platforms. Even their address is the same, and the only difference is the plans both offer. It would be best to find out the truth about Legal Coin FX and its red flags. Hundreds have lost funds with legalcoinfx.com. Learn more in our detailed LEGALCOINFX REVIEW.

PS: Experts recommend using the best crypto trading robots when trading with cryptocurrency. These bots are designed to give users the best possible outcome. Enjoy the advanced tools and charts that help drive your trading forward.

A Brief Overview of LegalCoinFX

LegalCoinFX Pros and Cons

Just as you would expect with a clone platform, LegalCoinFX claims to reside in the UK. The location details are the same as those of Nano Crypto FX. These platforms were flagged down as huge scams in the crypto world.

Sadly, investors don’t get notifications of these warnings. And thus, we feel we have to protect the interest of the crypto community. So we expose the red flags and call out a platform for deceiving investors.

Legal Coin FX is no exception, and the main goal is to rip off anyone who deposits funds with them. No member gets to withdraw funds with the platform. And this is the reason why we have to expose the platform’s callous activities.

As we pointed out earlier, the platform is a clone. Even navigation to the different pages is a problem. This is because the owners tried to put all information on one page. And this doesn’t resonate well in crypto investing and trading platforms.

We recommend that you research a platform before signing up or committing funds. First, try and find out whether there’s any buzz on the platform. An excellent example would be reading our detailed reviews on crypto and forex products.

Accounts LegalCoinFX

LegalCoinFX avails four plans for investors to use. These include Mini, Silver, Gold, and Platinum. Each of these plans offers different outcomes and features. Here’s a closer look at each of these accounts;

Mini

It’s the most basic account, with investors depositing $2,550. The platform promises 24-hour support and free appointment with account managers. You get a promise of making $7,749 in returns. There’s no mention of the vesting period.

Silver

For silver account holders, there’s a minimum acceptable deposit of $7,500. In addition, investors get a promise of withdrawing $1,124 per time. The expected ROI is set at $13,499.10 at the end of the vesting period.

Gold

You have to make a minimum deposit of $30,000 with this account. However, the account promises a guaranteed ROI of $71,998. That’s more than double your investment amount. There’s also no mention of the vesting period.

Platinum

It’s the most exclusive account, with investors having to deposit $75,000. The platform mainly targets institutional investors with this account. There’s a promise of getting $99,199.10 in returns. We don’t know the vesting period.

Accounts LegalCoinFX

Account features

There are many red flags found on these plans. One of the biggest flaws is the acceptable minimum deposit. The account promises a minimum deposit that’s unbearable. Genuine crypto investments accept a minimum sufficient balance of $500.

We also don’t know the vesting period available on these accounts. Despite their efforts to appear genuine, the vesting period is a must-know for members. A forthcoming crypto vesting period is a minimum of three to four months.

Awards and accolades

We have a platform that claims to have won two awards in 2015. These include the National Business UK awards and the Best Business UK awards. But unfortunately, there’s no picture of any member of the platform receiving these awards.

The platform tries to give an impression of a reputable platform. But, sadly, the platform doesn’t have what it takes to fool us. We know for sure that the platform was not even live then. So these are false award claims.

Available services

Apart from crypto investment, the platform also claims to offer binary trading. Other services include Crypto mining which we don’t seem possible. There’s no information on whether the platform has a crypto farm or offers mining contracts.

Other markets to find include bonds, commodities, forex, and indices. It appears that the platform claims to offer trading services. The homepage also has a banner reading binary trading is available.

Business holder legalcoinfx.com

Information on who owns the platform remains a mystery. With a clone platform, the owners want complete anonymity. And this makes LegalCoinFX an anonymous investment platform. It would be best to stay away from anonymous investment platforms as possible.

Without information on who owns or runs the platform, the security of funds is an issue. In addition, investors don’t know who handles funds on the platform. And this makes it hard to recover funds, as experienced by members today.

Hiring recovery agents won’t help matters. These agents don’t have any mandate to freeze bank accounts belonging to the platform. The owners are smart enough to deposit all funds in an offshore bank account.

Are funds safe with Legal Coin FX?

A recent investigation revealed that some of these agents are part of the scam. You get a call from them urging you to deposit with them. These agents make first contact after receiving your contacts from the platform.

The agents will claim to have won a lawsuit filed against the platform. These agents claim you must pay legal fees to get part of the settlement. If you make a mistake paying them, that’s the last you will hear from them.

Client Testimony

To try and fool investors, the platform posts a bunch of positive comments on the homepage. We noticed that these reviews are the same as those of Nano Crypto FX. The platform uses stock images and gives them false personas.

There’s no positive review of the platform anywhere on the face of the planet. And this should be an indicator that the platform is a scam. So please stay away from the store or risk losing everything.

Compliance and regulation LegalCoinFX

LegalCoinFX is far from being a compliant crypto investment and trading platform. Instead, we have a store that fails to deliver genuine investment options. In addition, the platform fails to comply with set regulations.

You would expect a platform residing in the UK to get a license from the Financial Conduct Authority. But unfortunately, that’s not the case with Legal Coin FX. The FCA plans to issue a warning in the coming days.

We recommend investing in platforms that get their license from reputable regulators. These include ASIC, BaFIN, CFTC, CNMV, CONSOB, CySEC, and the FCA. Other reputable regulators include FINMA, NFA, and the SEC.

Without any regulatory framework, a platform is free to impose any harsh trading conditions. Regulators ensure there’s a level playing field for all concerned parties. You also get protection from bankruptcy and insolvency.

Deposit funds safety LegalCoinFX

Is legalcoinfx.com a high-financial risk platform?

Your funds are far from safe with Legal Coin FX. The store fails to deliver any protection to investors. You don’t enjoy insurance cover on your deposits. The platform also fails to segregate accounts as dictated by trading regulations.

Final thoughts

After exposing all the red flags, we recommend that you stay away from legalcoinfx.com.

You need to use the best crypto trading tools the industry offers. These robots provide advanced tools to help advance your cause.

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