Key Points Covered
- What is 5Foldstrade?
- Bogus regulatory claims
- Falsified testimonials
- Bad trust scores
- Conclusion on the 5Foldstrade scam
- What is 5Foldstrade?
What is 5Foldstrade?
5Foldstrade claims to be a legitimate online trading platform while being regulated in six jurisdictions. The website includes purportedly trust-inducing features to entice would-be investors. However, any investigation into the legitimacy of this site rapidly diminishes. The site makes lofty claims without a single verifiable license number or certificate, which is a very basic indication of a legitimate trading service.
5Foldstrade Overview:
Company Name: 5Foldstrade
Website: https://5foldstrade.com/
Address: 95 Laight St #A, New York, NY 10014, United States
Regulation Status: Not Regulated
Warned By: Not Recommended By Review Website Like Lycan Retrieve
False Regulatory Claims
Upon deeper investigation, 5Foldstrade has provided no credible information about oversight from financial regulators. This is a red flag for a service with a claim to regulation in multiple jurisdictions. In particular, 5Foldstrade lists an address in the United States, yet has not received a license from any U.S. regulatory authority. The lack of basic compliance credentials opens the possibility for deception.
Fake Testimonials
The website for 5Foldstrade displays positive testimonials, which seem real even though they are not very authentic. Most of the reviews appear generic and scripted, which is therefore a common trick to lure naïve investors into believing in false credibility. This type of marketing strategy is often followed on dodgy online platforms.
Poor Trust Ratings
When checking their reputation, concerns rise further. On Trustpilot, 5Foldstrade has an incredibly low rating of just 2.3 stars, where users showed their disappointment as they faced withdrawal and transparency issues. Furthermore, there are clear warning flags for unreliability with the website’s trust score rated at 31 out of 100.
Final Thoughts on the 5Foldstrade Scam
All of these facets of the website, the lack of regulatory oversight, dubious testimonials, and low ratings, indicate there’s a greater issue for credibility. 5Foldstrade will want to portray itself as ‘professional’, but the evident gap makes clear the problems investors face. Based on the above information, it leads me to believe the platform has considered several high-risk elements that are synonymous with fraudulent platforms.
Why Choose LycanRetrieve? – We Help Scam Victims
At LycanRetrieve, we help expose and identify these platforms and help people who have lost their funds to schemes such as the 5Foldstrade scam. We focus on one thing: actual reviews, educating investors, and helping steer victims in the right direction for a possible recovery of their funds.
At LycanRetrieve, we not only leave you with a review, but we also provide victims with an opportunity to access resources and instructions on how to report fraudulent activity or professional recovery solutions should you wish to follow that path.
Lastly, every single scam relies on the silence of its victims, but you do not have to stay silent. By contacting us, you get to speak to people with years of experience. If you’re someone who requires clarity, direction, and someone to trust, we are here for you.
If you feel you have been targeted by a false trading service like 5Foldstrade, please contact us. At LycanRetrieve, no victim is alone, and we are here to support victims of trading scams and deception.
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