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There are crypto scams, and VertexTraders is one of them. Unfortunately, the platform doesn’t offer much reliability and outcome. Here’s our full vertextraders.com review.
Avoid investing with VertexTraders (vertextraders.com) as it’s a huge crypto scam. Hundreds of investors have lost their investment in the platform. And that’s why we have to raise the red flag and protect our ardent readers. The platform is a complete hoax and doesn’t offer any meaningful investments. Those who have invested with Vertex Traders are ruing the decision after the withdrawal blockade. Here’s more in our detailed VERTEXTRADERS REVIEW.
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VertexTraders claims to be a Bitcoin trading platform on the about us page. The platform claims to have traders from different areas. We see a platform boasting of having trading experts from all over the world.
That said, there’s no credible background and history of the platform. Instead, we see a platform without the hype that falls short of being a horrific investment. In addition, no member has come out with proof of actually winning from the platform.
And that’s why we have to use the platform as an example of how scams work. Since Vertex Traders is a scam, we will use it to highlight the red flags found. The platform will rip off anyone who dares invest with them.
When it comes to crypto investing, reputation is everything. Unfortunately, the platform doesn’t have an ounce of credibility or transparency. There’s no background or history to suggest any involvement in the crypto space.
Most crypto traders haven’t heard of the platform. There are only negative reviews on the web concerning the platform. And that’s an indicator of worse things to come. The platform doesn’t come anywhere close to investing.
We get why some investors would sign up with the platform. It comes with an appealing web design and layout. However, the user experience is not much, as navigating through the platform is hard. In addition, there’s not much information on some of the features to confirm legitimacy.
As an investor, you need to research the platform before making a final decision. Try and find out from other investors about their experience with the platform. It will help you make a more informed decision.
Advantages and Disadvantages of VertexTraders
You have to weigh the pros and cons of any platform before committing to it. Try and find the advantages and disadvantages of such platforms. These are what make or break platforms in the real world.
We ought to highlight several red flags that make Vertex Traders a scam. It would be best if you started checking on such before investing with any platform. Unfortunately, most red flags are often not seen with the naked eye.
Here’s a closer look at the pros and cons of vertextraders.com
Accounts and tiers VertexTraders
Surprisingly, VertexTraders doesn’t say much about the available accounts. As a result, it’s a free fall as the platform offers one account for all its services. And that poses a problem for naïve investors.
The platform might take advantage of it. It does take advantage as it fails to quote the acceptable minimum deposit. Before depositing funds, the platform claims the more you deposit, the higher your chances of winning.
In a genuine crypto investment platform, the minimum deposit is $500. Instead, we have a platform asking investors to deposit as much as $1,000. The platform wants to rip off investors as withdrawing funds is a problem.
No one takes advantage of the account features as there are none. Vertex Traders fails to mention the available account features. There’s no mention of leverage or spreads when it comes to the trading accounts.
We also suspect the platform wants to take over your account. After depositing funds, traders don’t get to trade. Instead, the platform claims to trade on your behalf. That’s why you should stay away from the platform, and there is a lot of missing information.
These are crucial features to note beforehand when it comes to leverage and spreads. All traders need to know the available leverage before going in. We suspect the platform offers leverage of 1:1000 for crypto products.
That’s high leverage considering regulators are against it. The maximum leverage you can use is 1:100 on all trading assets. High leverage puts your trading position at risk. That’s why we need to stay away from such highs.
There’s no information pointing us to who owns or runs the platform. And that makes VertexTraders an anonymous crypto investment platform. Investing with an anonymous online platform should be the last thing.
The platform doesn’t list a forwarding address should be a red flag. Unfortunately, the platform’s owner wants to remain behind the curtains. These types of investment ventures usually end up ruining the lives of investors.
One of the problems we have with anonymity is the recovery of funds. There’s no way to recover funds from an anonymous website. Without the owner’s details, the platform can open and close shop as it pleases.
Even those who hire recovery agents end up losing more funds. These agents are part of the scam. The agents don’t help mitigate issues as they are part of the problem. These agents can’t freeze bank accounts belonging to the platform.
Only regulators can freeze bank accounts via a court order. Recovery agents only look to fleece you out of the funds you have. These agents won’t recover a dime and are the final nail in your coffin.
There has been no client testimony on the platform. No investors has come out to heap praise on the platform. Instead, there are dozens of negative reviews about the platform. You get to read the experiences of other users via articles and blogs.
Without a single positive review, it shows how the platform treats investors. The credibility of the platform is in question. The platform doesn’t treat members with respect or any transparency.
Contact and customer support
You would expect a live chat option in a crypto investment platform. Unfortunately, that will not happen as the platform fails to offer such features. Instead, we have a platform blocking communication and limiting it to written form.
Instead of getting a contact page, the platform leaves a FAQ page. It means you don’t engage with the support team at any time. That’s another reason to stay away from the platform. There’s no way of getting help from a real live agent.
Deposit and fund safety VertexTraders
There’s no deposit or fund safety with a platform that fails to protect members. In addition, you won’t enjoy any insurance cover for your deposits. The platform also fails to segregate accounts and instead holds funds in a single account.
Members don’t enjoy DDoS protection or SSL encryption from the website. In addition, the website is prone to third-party attacks. If hackers attack the platform, your personal information is at risk. Therefore, we see the platform as a security risk to crypto investors.
License, Compliance, and Regulation VertexTraders
VertexTraders doesn’t comply with investing or trading rules. As a result, the platform is non-compliant and faces a warning from several regulators.
Please stay away from vertextraders.com.
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