Top 5 Investment Scam Sites to Avoid in March 2023
Author: Adam Collins
Everyone wants to grow and invest their money which has given rise to numerous investment opportunities online. However, with this comes a lot of risks and dangers as scammers use all manner of tricks to get your attention and money. Here are the top five investment scam sites to avoid in March 2023:
Read on to find out why these sites are suspicious and why you need to keep your guard up.
1. Coinibank (coinibank.co)
Coinibank claims to be a global forex and CFD broker. However, are they legit or a scam? Here is our initial assessment of the site:
Coinibank was founded in 2018 with the goal of becoming a digital asset trading platform. Initially, Coinibank looked promising, offering a wide range of digital assets including cryptocurrencies, stocks, and commodities. However, as time went on it became clear that Coinibank needed to live up to its promise. Its website had many blank pages and was difficult to navigate. There were also numerous customer complaints about issues with customer service and slow withdrawals.
There has been an alert issued against using the platform by Canadian Securities Administrators (CSA), with investors being warned that their funds were at risk. As a result, Coinibank is now one of the top 5 investment scam sites to avoid in March 2023. If you have invested in this platform, it is highly recommended that you take immediate action and withdraw your funds as soon as possible.
Astrahorizon.com
The Canadian Securities Administration (CSA)issued an alert about astrahorizon.com, one of the Investment scam sites to avoid in March 2023. This platform has received largely negative reviews from customers who are having difficulty withdrawing their funds. Additionally, there seems to be a pattern of customer review fraud with lots of glowing reviews that appear to be generated by the platform itself or by people paid by the site. Therefore, it is best to be cautious when investing in astrahorizon.com and stick to legitimate financial services.
Crownglobal.io
Crownglobal.io is one of the top five investment scam sites to avoid in March 2023. This website has been the source of numerous complaints from people who have had difficulties making withdrawals. The Canadian Securities Administrators (CSA) has alsoissued an alert against them. This is unsurprising, considering the website's relative youth, which makes it harder to trust. Despite their promises of quick and easy returns on investments, this website should be avoided at all costs as there is a high risk of financial loss for those who are duped by their false claims.
Explorefx.uk
One of the investment scam sites to avoid in February 2023 is Explorefx.uk. According to ScamAdviser, the reviews associated with the website are questionable. Furthermore, there has been an alert issued by the Alberta Securities Commission (ASC). On Trustpilot, there have been numerous negative reviews with many complaining about how hard it is to withdraw funds once they have invested. Some users have reported that they are not able to access their accounts and are unable to withdraw their money. As a result, many people have lost their investments.
Overall, it is best to stay away from Explorefx.uk in March 2023 as multiple authorities have deemed it a high-risk investment scam site. There are other better and more reliable options available out there when it comes to investing your money.
Novatechfx.com
Novatechfx.com or NovaTech LTD is a forex and crypto platform and one of the sites to exercise caution when dealing with. For starters, Canadian Securities Administrators (CSA) has issued an alert against the same and noted they are not registered nor authorized to solicit investors in Québec.
Customers have reported that it is difficult to make withdrawals and the company uses high-pressure sales tactics such as pop-ups to psychologically pressure customers into committing. Furthermore, there are suspicions that Novatechfx.com is manipulating customer reviews, especially on Trustpilot, in order to appear more legitimate. It is strongly recommended that customers proceed cautiously and research the company thoroughly before engaging in any transaction.
Bottom Line
Investing can be tricky, and it is vital to be aware of the potential for fraud when investing. Arm yourself with the right knowledge before investing in any platform. As they say, better safe than sorry especially when it comes to dealing with your hard-earned money.
Though the above are the top 5 investment scam sites to avoid in March 2023, there are many more investment scams to look out for. Being able to recognize a cryptocurrency scam is important and so is doing your due diligence.
If you find yourself on the receiving end of an investment scam, don’t blame yourself as it happens to the best of us. Reporting to authorities is often a good idea though it might be hard to recover your money, it may help the next person avoid being a victim.
This article has been written by a scam fighter volunteer. If you believe the article above contains inaccuracies or is missing relevant information, please contact ScamAdviser.com using this form.
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