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Jon D.

Contributor Level

Total Points
84

1 Review by Jon

  • Tradewell.io

8/7/19

Avoid them. These guys happily take your money but do little to nothing in return. They will advise you to make investments into certain crypto currency assets but they do not tell you that their fees as a result of leveraging are far in excess of any other exchange out there nor do they monitor the accounts even though they say they will.

By way of example, just to test things out, I bought one unit in BCH/USDC. The listed price was 338.19. The market price was 336.69. That is a spread of $1.50. But because of leveraging I paid a fee of $30 to them to buy the coin, meaning I was immediately in a losing position of -$30, not even close to break even. On a coin worth $336, it is going to take a very long time to make that up, if you ever do. That means I paid almost 10% of the value of the unit to buy one unit. I had a similar result with any other unit I purchased. I have attached the a screenshot just so you are aware of what will happen when you hit buy. You can see the price I paid, 338.19. You can see the current price (which is false) of $335.19. You can also see the immediate loss I incurred when I hit purchase.

Their advertised accounts types are false. They do not provide the service they promise no matter what level you reach, so don't bother trying.

Tip for consumers:
Don't use it

Products used:
Cryptocurrency

Service
Value
Quality

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