Table of contents
Judging by the looks of F2TradingCorp we can very firmly assume that there is something definitely off with this firm. The website is littered with images, banners, text and videos, and everything is disorganized to the point of sloppiness.
F2TradingCorp claims to be an automatic crypto trading service provider, a so called exchange, claiming that users will have a 3% ROI (Return of Investment) per day for 200 days, if choosing the basic F11 pack (account). These sound very much like typical scammer promises, and seem way too tempting to be actually true. The company also promotes luxury cars and watches as its prizes, and has a feature video of its employees driving luxury vehicles through the streets of Dubai. There are other schemes that involve, for instance, referring a friend and getting a bonus percentage for it.
Most importantly however, the firm is NOT REGULATED by any agency as demonstrated by the lack of information concerning a license, and what’s more is that F2TradingCorp has no legal documents anywhere. These kind of service providers are clearly a risk to any investment made in them.
We urge traders to trade with regulated entities/brokers under the gaze of such agencies as the FCA which not only enforces a strict set of rules and demands detailed reports on company activities, but also includes a compensation fund of up to £85 000 for victimized traders resulting from insolvent brokers.
Since this is a crypto trading service provider there are no leverage and spread values, and the only assets available are Bitcoin and Ethereum.
The website is available only in Thai, and we had to translate it using Google Translate. The Client Dashboard however, was available to be translated into the following languages: English, Portuguese, Chinese, Korean, Japanese, Spanish, Italian, Vietnamese, Arabic, Russian, Thai, German, and Hindi.
The platform, or dashboard as it is called, is confusing to us, and doesn’t seem to do much in the way crytpocurrency exchanging. Maybe it’s because we hadn’t deposited; we cannot say for sure.
There are 11 account types, or as they are called at F2TradingCorp, packs, that all different scores and automated trading bot numbers. Whichever you choose to use, remember that there is a $10 membership fee.
F2TRADINCORP MINIMUM DEPOSIT
With 11 different account types, the minimum deposit requirement, i.e for the basic pack (F100) is $100. The highest fund requirement is $50 000.
The only way to fund a user’s account is via bitcoin.
As we have, multiple times, concluded, this unregulated exchange is not to be trusted, hence we advise against making any deposits whatsoever. If traders wish to trade in a safe and regulated environment, we recommend any broker/crypto exchange that has a license from the FCA/CySEC since these agencies are renowned for their strict law enforcing and protection of clients’ investments and personal information.
DON’T PROVIDE YOUR CREDIT CARD CVV CODE
Never give away your CVV code without first making sure that the broker is regulated by an efficient agency. By giving away your Card info with the CVV code to some unconfirmed person you are literally giving access to your funds, and if these details fall into the wrong hands, rest assured that your bank account will be promptly emptied.
DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER
Be sure to never give AnyDesk or TeamViewer access to your PC to unverified agents. These 2 platforms allow for your PC to be taken over by a second party, often times for help or guidance, but in the case of these brokers for the sole purpose of looting your bank account(s) and personal information. However, in order to do so your consent is needed, and this is the only thing standing in the scammers’ way.
F2TRADINCORP WITHDRAWAL TIME AND FEES
Withdrawal information can be found in a PDF file that serves as a simple introduction to the whole F2TradingCorp concept. This document is the only professional looking thing in the whole website. The other withdrawal details are seen in the Withdrawal section of the user portal. This is what we found out form both sources.
All withdrawal requests will start processing after the 24th of the month, meaning that if you request a withdrawal on the 1st, you will have to wait 23 days. After that, it make take 24 hours for users to see the money in their blockchain wallets.
The minimum withdrawal amount for all account holders lower than the $5000 (F5000) one are capped at $100. The minimum withdrawal if you choose the F5000 Pack or any account higher than this one will increase the minimum withdrawal to $300.
The Home Page vaguely mentions that the firm will withhold 7$ every 15 days, and 3% every month. These seem to apply to withdrawals somehow because they are found under a “withdrawal” title.
There are no additional fees and clause mentioned in any of the Legal Documents for there are no such documents. Don’t let this soften you up. These types of alleged crypto service providers that have no regulation are known to launch incoming fees without notice. For this reason they try to postpone any withdrawal request. The most popular excuses for denying your withdraw requests are usually smart and for the most part scripted. These include but are not limited to asking for more deposits in order to withdraw, or just prolonging your pending withdrawal by claiming that the market will suddenly propel, multiplying your winnings by unrealistic proportions.
If a similar firm is unlicensed, never give you ID and personal details to it, because the scammers will use these details against you once you file for a charge back. Furthermore, any allegation held against it will be easily refuted if they have in their possession a copy of your ID and proof of address.
The most important thing to note is that you will not get your deposit back, nor will you receive your winnings. It never had this intention in the first place. The best advise is to walk away from it, and go straight for a regulated one. The FCA and CySEC are the top non-US license issuers, and those under their gaze are bound by the law to put the security of users’ funds as pivotal priority.
HOW TO RECOVER
Don’t delay, and file for a charge back ASAP with your bank or credit card company, but also ask them what the situation with your current account is.
If you have given a CVV code, be sure to cancel your credit card as soon as possible.
Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.
The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive companies against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!
F2TradingCorp is quite the mess. Maybe to our westernized sensibilities it may seem so, but readers should be aware that this exchange is unregulated and will most certainly cheat you out of your investment. Stay back!
F2TradingCorp compared to other brands
United Kingdom, Cyprus, South Africa, Mauritius
Cyprus, Saint Vincent and the Grenadines