Cloxyields Review – Lies Behind Cloxyields.Com
Cloxyields is not a broker who should be trusted with anyone’s money. That is true on various levels. To start, the company has no license at all, which is typically a sign of fraud.
Its false address and utter absence of any actual legal papers that should show you the terms of your connection with the broker would-be, be add to mistrust.
Cloxyields is one of the numerous websites attempting to take advantage of the craze around cryptocurrencies and the general public’s inexperience in financial trading.
These websites pose as well-known brokers, but their goal is to scam you out of your money. Let’s look at several ways to tell if this broker is what it purports to be in our Cloxyields review.
Furthermore, we advise you to avoid fraudulent brokers like Fincloud, Vitacapitals, and OctexTrade.
|Address||668 Herschler Ave, Evanston, Wyoming (WY), 82930|
Cloxyields Regulation and Funds Security
A legitimate financial services provider will have clear and complete details about the company that owns and runs it, where it is based, and what licenses it has available on its website.
Genuine brokers also give users access to a wide range of legal documents. The fact that such material is accessible does not ensure that it is accurate or truthful. But the absence of these components suggests that you are probably dealing with scammers.
We are unable to discover full information about the owner company or the standard warnings regarding the risks of trading financial instruments on the main page. The Terms and Conditions do not meet the standards for this kind of legal material and do not name the company or the country it’s based in.
Before investing your money, make sure you use a licensed broker and not one of the many scammers lurking online. These licensed brokers offer their clients protections like negative balance protection and fund segregation from broker funds. While there is a significant risk of overall financial loss when dealing with unlicensed brokers.
Trading Platform Overview
It becomes evident after creating an account with Cloxyields that it is not an FX and CFD broker. Since Cloxyields lacks any trading software, it lacks the technical capability to really provide the services it offers.
There should be no trust placed in any offshore broker’s trading platform. That’s because they can manipulate their software all too frequently these days.
While it may seem as though your money is being used to open and close trades as it should, all of the activity on the site is actually just a sham. Any deposits you make are actually being taken directly by the scammers. This means that doing business with an unlicensed company without reliable software would be risky.
Options for Cloxyields Deposits and Withdrawals
You can see the logos of well-known payment options like credit cards, Skrill, PayPal, and Neteller on the homepage. However, the option in the deposit menu itself is only available in cryptocurrency.
Cryptocurrency transactions are more popular among scammers because refunds are sometimes not available or very difficult to refund. Bitcoin is accepted by certain trustworthy brokers, although they also accept other transparent payment methods.
It is unclear what scams the scammers may have set up as Cloxyields does not offer valid legal papers. By charging excessive fees and imposing limits on the volume of trades, fraudulent brokers typically make it impossible to withdraw money.
How Does the Scam Carried Out
In an effort to profit from the hype around cryptocurrencies, websites acting as brokers have been used in a number of fraudulent scams in recent years.
Once you give one of these scammers your contact information, they will start tempting you with promises to increase your funds and tell you that all you need to do is sit back and enjoy the benefits. Once you consent to a small investment of a few hundred dollars, they will start persuading you to make larger investments.
However, neither the promised earnings nor your initial investment will ever be returned to you. They have the option to avoid all rules and regulations by hiding behind offshore corporations since they are not regulated.
They transfer money via direct bank transfers, dubious payment platforms, and cryptocurrencies, making it incredibly difficult or perhaps impossible to retrieve the funds. There are always loopholes in the terms and conditions that make it impossible for you to withdraw your money.
Suggested Forex Brokers
When making an investment decision, we strongly advise our readers to choose licensed brokers from the EU, UK, US, Australia, or any other country.
Brokers who are licensed are covered by several financial compensation programs and anti-fraud protocols. In contrast to this broker and others like it, they stand for the complete opposite.
Below are a few brokers who come highly recommended by experts, are regulated, trustworthy, and have been in business for a long time.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
Cloxyields is not a broker who should be trusted with anyone’s money. The business is completely unlicensed. When it comes to the services it offers, the broker is incompetent. Its website has several faulty features, and there is no option to register for an account.
It is impossible to actually know what Cloxyields offers despite promises that it has access to a wide range of asset classes, including Forex, cryptocurrencies, shares, indices, commodities, tight spreads, and high leverage.
Therefore, even if doing business with the firm were to become possible in the future, we simply cannot endorse it.
We would appreciate it if you could let us know about any negative experiences you’ve had with other deceptive brokers so we can assist you by informing the authorities about the scammers.
FAQs About Cloxyields Broker
Is Cloxyields Legitimate Brokers?
Cloxyields is not a legitimate broker and it should be avoided. It’s unlicensed and unregulated.
Is My Money Safe at Cloxyields?
Your money is not safe with Cloxyields. Investing in cryptocurrencies is very uncertain and risky.
Do Cloxyields Charge for Deposits or Withdrawals?
There isn’t much information about withdrawals, but we can assume that due to them being unlicensed, there is no possibility to withdraw.