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Ethprofits.com Review
đź”´ Ethprofits.com services are questionable – a warning sign!Â
🔴 Ethprofits.com isn’t licensed – a red flag!
🔴 Ethprofits.com isn’t transparent – a red flag!
🔴 Ethprofits.com creates unrealistic expectations – a red flag!
What is Ethprofits.com?
Ethprofits.com is an unregulated broker platform similar to Inlandfx, which we reviewed earlier. Problem with unregulated brokers is that they are not reliable and abuse the regulations. Make sure to stay away from them as they are anonymous and that they can disappear any time without notice. Companies providing online brokerage services without a license cannot provide their clients with any sort of protection.
Ethprofits.com Regulation
They are unregulated and most likely totally illegal, which ultimately means that your funds will be in danger if you deposit! So, yet again, there is another reason to stay away from them!
As there is no regulation, the people running the platform can pocket your money while bearing no responsibility for their criminal actions. They can disappear any time without notice. Companies providing online investment services without a license cannot provide their clients with any sort of protection. In contrast, regulated firms are required by law to adhere to a slew of regulations that ensure the safety of client’s funds. For example, in most jurisdictions, a company will get a license if it meets the minimum capital requirement that varies by country and may also depend on the product specification, business classification and so on.
To make sure you are dealing with a regulated and known broker, you should be able to find easily who is the CEO of this investment firm, who is running it etc. Lack of information is a big red flag since you don’t know who will be dealing with YOUR MONEY. This is the reason why they are dangerous to deal with.
On top of that, once you click and provide them with your e-mail and contact number they will ring you immediately and promise you anything to make you deposit money with them as fast as possible. Most of the scammers are experienced manipulators and before you know it they’d ask for your bank card numbers to assist you with the deposit. You shouldn’t provide this information. There is also a chance to become a victim of Identity theft, experiencing many more problems consequently.
Ethprofits.com Complaints
Depending on the amount of experience people have with brokers, it may be easy to tell what is legitimate and off-base before the problem starts. However, most of our clients were not aware their platform was problematic before they had already signed up. If they show any of these signs, either avoid them entirely or look very carefully before proceeding:
đź”´ Not regulated
đź”´ High fees and commissions
đź”´ Not enough information on the website
đź”´ Poor communication and refusal to answer questions
đź”´ Pushy manner
đź”´ Keeps mentioning rules and fees that were not outlined in the contract
đź”´ Does not let you withdraw money from your account
Ethprofits.com Products and Services
They are not safe, and we say so because it’s an unregulated broker. They always promise things they won’t deliver, and Ethprofits.com makes no exception – they claim that customers can become rich quick, which is a scam offer seen from any viewpoint! Such promises are ludicrous, and they show that Ethprofits.com is a suspected scam you should avoid! Beware!
Ethprofits.com Customer Support
Ethprofits.com allows you to contact them through telephone contact and email. They do not provide any location data. There is no certainty in the contact information available.
You ought to receive an instant reply to your query, if not fast. Nevertheless, fraudsters cut off communications upon receiving your money. It is improbable to deliver a friendly interface without proper customer relations. Active customer support assists in determining more trust in the company.
Are Funds Safe With Ethprofits.com?
With such lack of information and being unregulated, funds are not safe. Security of funds is a huge problem with brokers. A red flag that we noticed is that they are withholding vital information to users. They could go bankrupt from one day to another since there are no banking information about them.
Ethprofits.com does not guarantee the security of funds. The safety of your money is a top factor to consider in any platform. Any red flag is a warning you should not ignore. Investing your money with anonymous platforms not only puts your money at risk. Your data may fall into the wrong hands attracting criminal activities during the registration process.
Ethprofits.com Withdrawals
The point at which many of our clients realize they are dealing with a scam broker is when they request to withdraw funds and the broker either won’t allow them or will make it difficult. They may employ the following tactics:
🔴 Will aggressively urge clients to make additional trades. The client often acquiesces because the broker will be quite pushy and make it clear he or she is in control since they hold the client’s funds
đź”´ Will charge high withdrawal fees. Many clients will instead try to make more money to cover these high fees and will make more transactions instead of withdrawing
đź”´ Cease communication. They may be evasive or simply not communicate at all.
If Ethprofits.com is doing any of these things to avoid releasing your funds, do not hesitate to leave a comment to warn others.
Ethprofits.com Review: our Conclusion!
Ethprofits.com is an unregulated platform to avoid. Their methods for investment are unreliable.
If you have been scammed, feel free to leave a comment or if you wish to arrange a free consultation with our professionals, do not hesitate to submit your complaint by clicking the button bellow.
ℹ️ Ethprofits.com Details
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🖥️ Website URL : www.ethprofits.com
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⚖️ Regulation : Offshore Broker
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⚠️ 19/08/2022 : FCA Warned Against Unauthorised firm - ETH Profits
🚨 Ethprofits.com not paying? Share your experience and get help
đź“‹ Fill out the form here and get a free consultation today.
I certainly cannot recommend this company, I traded a small amount of $US1500 to test the water so to speak but I was harrassed to put in more like $US10,000, very aggressive, so I decided to pull out and get a payout of what was my account. I was informed by a person called Felix that I could only get paid to a cold wallet, did I have one. No, don’t worry I will help you set one up using Any Desk. So we proceeded along this line, I needed to transfer funds to a very reputable trader here in Australia. So went to my bank a/c and was about to transfer but needed a pen to write down the details on turning back I noticed that this Felix had filled in the details for $A20,000 and sent before I could stop him. He was told by the company that it would take 5 days to set up he told them no, he wanted immediately they said no way so Felix transferred the money back to my account, less $A225 exchange rate calculation.
That was the start of of an epic cluster****.
Phone call from my bank, AusTrack, to find out what was going on. Then the bank froze my account for nearly 4 weeks.
I do not believe all the glowing reviews.An example report from another review site that I should have looked at first.
“Ethprofits.com offered a good-looking website and big promises – and that is pretty much all. Here are some things the broker did not offer – comprehensive information about trading conditions, detailed legal documentation, or access to a trading platform without a referral code. Most importantly, this broker is definitely not licensed – which automatically makes them a lot less reliable. All the signs of a scam are there so the smart decision would be to avoid this broker and turn to a licensed company instead”.
By the way I am still waiting I am still waiting for the $US1700 to get to me.
I live in hope, so be warned. Do not use them
Hi Lindsay
Have you had any luck in the end of getting your money back as yet?
I am still waiting for the $A225 that was lost in exchange rates and I live in hope
There has been no response from the support since I’ve been locked out of my account.
The only time i got a response from Ethprofits support was for some upfront fee to withdraw over $68,000 of my money which is unfair if you ask ask me.
At this moment moment I have a account at ETHProfits. I first put in $250,00 I had soon $70,00 profit. Then I get a call from Alberto Schloss from ETHProfits. Hé had a offer to go with a extra investment. Hé had a offer to invest in a So called Arbitrage trade. A minimum of $2211 was needed, to go for 7 arbitrage trades. I did not trust this, so I cut it off. Than het offered me to rais My account to $1000,00 and then I got 2 arbitrage trades. So I put $680,00 extra on My account. The trades give me a lot of profit. My account is now $2311,07. So Alberto called me again to offer me another arbitrage opertunity. Bud I told HIM I have no money to invest at this moment. After that I want to ask HIM about Withdrawal money, so I send HIM an e-mail with this question. Hé answered that hé was not feeling very well and hé call me tommorow. Its now been a week ago. I now have tried to het My money off the account. You can Fill in a form with the Ammount and a bitcoin Wallet adres. Than you have to submit. After that, you Get a page where is written that:
Your withdrawal request has been submitted to ETH Profits successfully. In order to process your request you must:
Print the details below using the “Print Prview” button below
Sign the form that is printed
The request will generally be processed within 2 business days of receipt. In order to avoid any delays please review your information carefully before submitting. ETH Profits assumes no responsibility for errors or inaccuracies made by the account holder.
But there is no printbutton below?
And the also dont say were the printed and signed form is sended to???
So I have a strong feeling that I can say bye bye to My money. I hope I’m wrong!
As a result of an on-line enquiry, my wife was talked into investing $250USD with ETHProfits and was signed up for an account in our joint names with an address “Australia” and a credit card.
The account was set up by “Dan”, an extremely fast talking and persuasive individual. He invested the $250USD and showed us the profits and a small withdrawal. To cut a long story short, after a number of long international phone calls, we subsequently invested first $15,000AUD to reach a “Bronze” account and after relentless pressure from Dan to invest more money we transferred another $23,000 to get into a Silver account. In the first 6 weeks the account made a profit of $7,500USD and Dan, in nearly daily phone calls extolling the results mounted more pressure on us to advance to a “Gold” account. I then smelt a rat and to test the waters I made a withdrawal request of $3,000USD to realise some of our profits. Dan was not happy as he needed more money to invest, not less. As it was no longer worth his while (his words) to deal with such a small account, he advised us to close the account, which was fine by us as by this time I was tired of the relentless harassment for more funds.
Then enter “Felix” the accountant who would only take 10 minutes of our time to finalise the account and get us our money. Just follow the 3-Step verification process which are mandatory in order to complete the first time Withdrawal (where did that come from as that was not mentioned anywhere)! This procedure entailed giving them all our banking details, a signed form completing the withdrawal request and the payment of a Service Fee of 15% of the balance as an external transfer from our side! As the balance of our account was $55,275AUD we were required to pay $8,223 upfront to release that money. I advised him to take that fee out of our profits as that was in fact our money, which he refused to do as it was supposedly against the law. At present we are in a stalemate as “Felix” refuses to release the balance of our account. I refuse to pay that Service Fee as an external transaction as I fear that more difficulties will arise. In the meantime, according to “Felix”, our account will be charged a monthly dormant fee of 6% which they can deduct from our account balance (but not the service fee!!). This is another unexpected and exorbitant impost! Furthermore, ANY amount large or small withdrawn from our profits would still incur the 15% service fee ($8,223) of the total account.
According to other websites which I had not checked beforehand, the company is definitely unlicensed, even though they give a London address. The $250USD transaction was processed by an Istanbul bank under the guise of “payment for computer software” and given the time lines of their phone calls, that could be the location where they operate from.
I have belatedly read a lot of ETHProfits reviews on other websites and some I would treat as suspect; most of them are two liners with a 5-Star rating. I have identified “Dan’s” surname with some other first names in successive reviews with a 5-Star rating attached.
I am not unwilling to pay that “Service Fee” even though Dan had advised us that their commission came from the “spread” of each trade transaction, which is also mentioned on their website under “Commissions on Trades”. It is reiterated under “Fees on your Trades; We do not charge you anything in addition to the spreads”.
My advice is DO NOT Deal with this company. They are happy to take your money but make it very difficult for you to withdraw it. In the mean time I am not holding my breath for a positive outcome!
Scam upon Scam!!
Further to my story of being scammed by ETHProfits. After my firm refusal to pay the 15% Service Fee of $8,223AUD there was silence for a day. I was then e-mailed by a senior accounts manager of ETHProfits informing me that she would help me liquidating and withdrawing the full amount of our account and there were no fees or commissions involved. When we spoke with her the following day, she apologised profusely for the way “Felix”, the accountant, had tried to extract the unauthorised Service Fee from us to pocket as a bonus and he would be spoken to (why not charged and sacked for attempted theft?) The account manager then outlined the procedure to transfer the full amount into our CoinSpot account which necessitated the creation of another account on a second crypto platform to be used as a holding wallet for the USDT coin whilst I would transfer 20% of that amount ($10,736AUD) as an insurance to comply with the AML (Anti Money Laundering) laws. The money was to come from our private account but we were assured that this money would only be out of our custody for a short time to allow the two platforms to synchronise. I again smelled a rat and refused to pay that amount and informed the accounts manager that I would make enquires about this AML policy before proceeding. A check with the Fraud Section of CoinSpot the following day revealed that this was another scam as the required crypto coin amount could be transferred directly into our CoinSpot account, peer to peer. Similar to another money transfer we had received from ETHProfits a few weeks before.
When we spoke again that night, the accounts manager became very irate when we informed her to simply transfer the crypto from her wallet into ours and then hung up on us. She rang again two days later and she again became irate and derided us severely for not understanding the system. We refuse to pay and the accounts manager has threatened that our account will be closed. My wife forwarded an e-mail to the accounts manager requesting information in relation to the veracity of that legislation. She responded with a “good luck”. There has been no further contact and we presume that the $55,275AUD balance in our account is lost forever.
As an addendum we decided to do a Historical Data check on 3 random trades in our account. Two of the trades were questionable but difficult to validate due to the large spread in the daily fluctuations of the currency pairs being traded but the 3rd entry of a euro-USD trade was completely incorrect as the figures were outside the trading ranges on that day so this trade could not have occurred. This information is disturbing as I am questioning the veracity of the supposed success rates of the ETHProfits accounts. If you don’t intend to pay out your client when they want to withdraw the balance of the account, then it does not matter if the account was hugely successful.
My advice is that this company is extremely shonky and it would be in any prospective crypto trader’s interest to STAY CLEAR OF THIS COMPANY!!!
The saga continues with another two scams!
After doing the Historical Data check on 3 random trades, I decided to check 17 of the most profitable trades. Four of the trades were impossible, based on the ranges on the day; the rest could have been valid trades but given the 4 impossible trades, the remainder are also highly suspicious. I have since learned that ETHProfits were running two accounts for us; one for the fictitious trades and one for the company which was revealed in some legal document they sent us. They are taking innocent peoples money and supposedly investing it in sham trades showing big profits which are then used as a lever to extract more money from unsuspecting investors who are fooled by the profits and are happy with the resultant balance of the account. The goal is to persuade the investor to keep on building on the balance of the account. I sent the Account Manager an e-mail, outlining my suspicions and accused her of scamming us, to which I did not receive a reply. Two days later, we got a call from “Zack” from the Legal Department, informing us that he was investigating “Felix” and “Anna” (the Accounts Manager) of criminal behaviour and asked to be forwarded all correspondence we had received from the two. He further promised to get our money without any problems. For the next two weeks he strung us along with conflicting instructions similar to the ones “Anna” was sprouting. When he finally came to the party to say that the money was ready to be transferred, he had the gall to tell us that in order to “Synchronise” the accounts we had to first transfer money from our Coinspot account into Coinbase, but only for a short time. The amount of money required was between 10 and 30% and was to come out of our private account. When asked as to where we could find that information he fobbed us off with that he did not have time to sent us that info but we could research that information on the internet ourselves. Needless to say that synchronisation information could not be found.
This whole business with “Zack” was a ploy to string us along to give them time to get rid of bad reviews (I had informed ETHProfits that I would post a bad review on a number of websites). I have noticed that a number of bad reviews on other websites have rolled over and have been replaced by 5-star reviews trumpeting ETHProfits virtues. I have also noticed that ETHProfits is now ETHProfits.io.
Don’t be fooled as these reviews are scams!!! Do not engage with these scammers!!
Ethprofit offer me to buy 4 bitcoin with 12000 for each and promise to give these coins after two days to sell them. When I asked for my coin they tell to keep it on ( stacking business) for few months and offer to pay interest for the loan I took to buy these bitcoin. I felt something not look right. So I google Ethprofits and I found that it scam company. I text Scot Levine one the company member about my concern about the company he told me they has 100000 customers and naturally some of them may be unhappy . I decided I will not allow Ethprofits to pay for my Loan. I know if they pay for one month they come to ask me to make bigger Loan and after that they will disappear. Few days later I got a phone call from someone called Paul told me he sold my bitcoin for a price 88000 Euro However They want me to send them 8800 pound taxes and their brokerage fees. I know he lies. I told him I can not deal with a I do deal with ghost I do not know his real name or identity . I told him noway to sent any money again to Ethprofits
After that I get text message from Scot Levine to follow the advice of Paul. I ignore them and stop answering their phone calls. Obviously I never asked them to sell these coins. I doubt they will pay to any government. I feel this just another trick to take more money from my account
This service is a complete scam, never put a cent here.
About 3 months ago I opened an account and everything went well to this day. Very service-minded people, but after the money had accumulated in the account of 13,800 euros the so-called expert called that I should open the virtual wallet they wanted even though I already had one. When I didn’t agree to this because I had to put 13,000 more money in their wallet before they could have made the transfer. When the expert outrageously said that they would then be transferred there to your own wallet, but most likely they will be lost on a trip that he really knew even before the transfer, they were lost in this very company’s own pocket. I don’t know if I’ll ever see that money, but I think I won’t. So never get involved in the pull of such companies. Make sure to properly secure a servant before transferring money.
I have just read the above & Everything mentioned has happened to me,Instigated by the same Individuals, Thomas Green, Dan Miller,Felix Stein, Bennett, Michael Katz, Zac Lau, Steve Bann, Michael Ross, Clyde Burry, Jasmine, Luke Lopez & the List goes on. Synchronizing Walletts, Miner Fees to Extract Funds fron the Blockchain, Taxes, & Money Laundering Threats. I have heard the lot. They are all Rude,Demanding, Standover individuals with absolutely No Scrulples,No Conscience. Lowlife Scumbags !
All the above his happened to me too over the past 5 MTHS. I have ‘invested’ ÂŁ20000 with ethprofits due to very pressured selling techniques with many false promises. On trying to withdraw my funds I have spoken to account manager Felix, more lies, as more recently Alfie from the release dept who helped me set up a crypto wallet and informed me that I need to transfer 30% of my funds from my private account to synchronise the wallets and satisfy the anti laundering regulators. Maybe this will work but I am highly doubtful and not prepared to lose anymore money so I have refused to answer their calls and have sent an email asking for step by step instructions and evidence of this method of transferring funds. I am devastated at having lost my savings and struggle to comprehend how I allowed myself to be conned out of so much money!!
Has anyone had any luck in retrieving their funds as yet?
These are scammers!
These are scammers!
They call you several times a week and this for months on end with hundreds of different phone numbers.
When you want your money back, this all turns out to be very complicated and certain programs have to be installed on your computer. These are to take over your computer. I still have not got my money back after many attempts, emails and phone calls and will never get it back. They just want more money and the number of phone calls is driving me crazy. You get a contact person, but dozens of other people call you every time.
When you want to withdraw your money, you get phones again from other companies that supposedly want to help you, but they only want to get your data, identity. They also ask for a copy of your identity card. I didn’t go into all of this myself, because I’d known the deception for a while.
Scandalous practices and a scandalous company! You will lose all the money you invest anyway!
Global Coin scammed me for my first time trading. Lost around 28000$