Is ChainMetricTrade legit?
ChainMetricTrade is an unverified crypto broker that recently began offering its services. If you have deposited money with ChainMetricTrade and you suspect that they are not being honest with you, you are most likely being scammed. We’ll be explaining why the ChainMetricTrade scam is so dubious in the coming paragraphs.
Many regulated brokers, unregulated companies and investment firms have been found to be scams. Under many circumstances there are avenues in place that are there to protect individuals and help them to get their money back. If the broker is acting in a suspect manner and claims to be regulated make sure you read this.
We can let you know how it’s possible to recover your money.
Don’t trade with a scam company. Use a regulated broker like Fortrade. Investing is risky, make sure you are protected.
Is ChainMetricTrade a scam?
Despite what any ChainMetricTrade review has told you, ChainMetricTrade is a suspected scam. We don’t recommend trading with them. If you are already trading with ChainMetricTrade we recommend you immediately cease depositing any amount of funds with them, in particular if they are asking for a fee to withdraw your money. DO NOT PAY IT.
The ChainMetricTrade Scam
ChainMetricTrade is an unlicensed company and has no accountability. Their website is wrought with false information and fake claims. Their website includes reference to another confirmed crypto scam called Litcoininvestment.
As more and more reports become confirmed, it will become abundantly clear if ChainMetricTrade is a full blown crypto trading scam. In our experience if the broker is unlicensed and unregulated and it’s made it’s way onto this list, the broker is 99% a scam.
Scam Website: ChainMetricTrade.com
409 N MARGUERITA AVE #1 ALHAMBRA, CALIFORNIA(CA), 91801
Is ChainMetricTrade a regulated broker?
ChainMetricTrade does list a fake disclaimer on their website which they apparently copied from another scam that they likely are running, Litcoininvestment
This is the quote, it’s clearly all false information. “Litcoininvestment is one of the leading platforms in the United States offering binary options, Forex and spreads. Regulated by the CFTC and based in New York. It is also regulated by the IFSC of Belize, as well as the Cyprus Securities and Exchange Commission.”
Below is a picture of the false disclaimer found on the ChainMetric website.
Should I trust an Offshore Broker?
As a matter of practice, one should not trust offshore brokers. Practically all offshore brokers are either Forex scams or Crypto trading scams. In the event that there is an offshore broker that is honest would be the exception that proves the rule. The reason for this is because reliable regulatory bodies such as the FCA and ASIC will not give regulation to these companies. Offshore brokers therefor do not have anyone to hold them accountable. In most cases this is the reason that the company decided to register offshore in the first place.
Looking for a regulated broker? Check out our Fortrade Review to see if they’re right for you.
If ChainMetricTrade has done anything similar to the below items, you are most likely being scammed by ChainMetricTrade.
Legal Signs of a Scam
- The company or broker is not regulated.
- The company or broker is regulated by a foreign regulatory body that is not trustworthy.
- The company is regulated by CySEC. (this is not a sure sign that the company is a scam however many CySec regulated companies turned out to be scams)
- The company has had its license suspended.
Contact us by submitting your information in the form on the page. We’ll let you know as soon as possible how you can get your money back.
Behavioral Signs of a Scam
- The broker has been overly pushy in getting you to deposit your money.
- The broker does not react positively when you ask for a withdrawal.
- The broker does not allow you to withdraw your money.
- The broker has offered you or pushed you to take a bonus.
- The broker has logged into your personal computer.
- The broker is charging you to withdraw your funds.
- Trades have been placed without your consent.
- The company withdrew funds from your account or charged your credit card without permission
- The broker asked for a picture of the front and back of your credit card to be sent by email.
- The broker asked for your government form of ID to be sent in an email or on the website.
- The broker told you to place a trade and then you immediately after lost all or most of your money.
Locations that scam brokers are often found in.
If the broker that you’re dealing with is located in any of the below locations it is reason for concern, as these areas are notorious for hosting Forex scams as well as Crypto and Binary Options scams.
Let us know right away if any of the following is true about your broker.
- The broker is located in Saint Vincent and the Grenadines
- The broker is located in Belize.
- The broker is located in the Commonwealth of Dominica
- The broker is located in the Cook Islands.
- The broker is located in The Marshall Islands.
- The broker is located in Mauritius.
- The broker is located in Seychelles
- The broker is located in Vanuatu.
Know your rights and get your money back. By filling out your information, we’ll be able to advise you right away.
If you are looking for a broker that you can trade with and feel safe with because of regulatory protection, check out our latest review of Fortrade.
Fortrade is regulated by the FCA, ASIC and the IIROC in Canada.
Disclaimer: It is not always possible to recover lost funds. Many cases of recovery scams have been reported where the victim is guaranteed to get their money back. We can assess your case and advise you right away if it’s possible to recover your money. If it is possible we can make a recommendation as to how to go about the process.