Is this Crypto investment platform (Fixed weekly return) a SCAM?

JackRS

Firstly please do not think I'm promoting this, I'm just asking how to confirm if this is genuine  or a scam?

For me being a skeptic if it sounds too good to be true it usually is.

Apexpay Trading has investment packages where you can invest Cryptocurrency (Bitcoin) and they allegedly pay very high weekly returns on investment for 6 months when you withdraw.

The starting package is Bronze (Investment range $200 - $4999) they will pay 10.5% weekly.  For example invest equivalent to $1000, your weekly return is $105, after 6 months (24 weeks) that's $2,520.  There are other packages which have higher return rates for larger investments and more details but I'm not promoting this just trying work out how to confirm my suspicions?

This is from their FAQ:

• Apex Pay Trading has been officially incorporated in 2017. You can check it on the Companies House website: https://beta.companieshouse.gov.uk/company/10620390.

• Apex Pay Trading is mainly involved in mining & trading of the most popular & lucrative cryptocurrencies in the digital world today & also in forex trading. We are a team of digital money enthusiasts who have been mining cryptocurrencies since their inception in 2009. Subsequently, we also have been trading cryptocurrencies & are involved in foreign exchange hence making great profits

• Apex Pay Trading is a platform which is risk-free. However, to avoid unforseen loss, the company continuously fills in its contingency fund. In the case of force majeure situations, Apex Pay Trading investors can expect to receive money back except the profits they received earlier.

All sounds too good to be true so how do I check it out?

The companies house reference says it's CRYPTOINVEST LTD and states: 

24 Jul 2018

Final Gazette dissolved via compulsory strike-off

So is that it they've shared a reference assuming you won't check it and actually is dissolved and a scam? 

Aceace

RUN!!!

Anything offering 10% weekly "risk free" returns is blatantly a scam. 

Thrugelmir

If you need to ask such a question then you should be avoiding investing all together. 

dunstonh

So, you have totally unrealistic rates quoted...
A company listing for a company that hasn't existed in three years... 
Risk free.......

Aceace

Just for fun...

At that rate of return, if you invested £1,000 and reinvested your weekly returns, you would have £180,000 after 1 year, £32 million after 2 years... In under 5 years you would own all of the world's money that is currently in circulation. 🤣

CKhalvashi

Definitely one to avoid.

My investment returns should average around 20% a year (2 weeks of this 'offer'), and a significant amount of work goes into them.

10% a week to sit back and relax sounds perfect to me, but sadly is not realistic.

JackRS

Thanks all yes it seemed obvious to me a scam but I know nothing of cryptocurrency. 

The packages are limited to run for 6 months so you have to withdraw and reinvest and it's not compound it's weekly fixed profit of 10.5% so in this example of $1000 investment in 2 years if you reinvested your earnings and initial investment every 6 months you'd have $153.5K which is equally ridiculous.

I was just wondering how you would investigate this apart from companies house, shouldn't it be reported to someone to investigate?

tebbins

I love how they say that they have been involved in trading crypto and Forex, "hence making great profits" as if just being involved in crypto is an automatic, magic profit machine 😆

Albermarle

Aceace said:

Just for fun...

At that rate of return, if you invested £1,000 and reinvested your weekly returns, you would have £180,000 after 1 year, £32 million after 2 years... In under 5 years you would own all of the world's money that is currently in circulation. 🤣

A better return than the boring old multi asset funds that are usually recommended on this forum 

Eyeful

How to confirm its a scam. Try these two ways:

1. Use some common sense. When a return of 10% a week is mentioned, only the greediest or dimmest people reply.                                                         

2. Just look them up on either of the following websites, this is what turns up:
 https://www.scamdoc.com/view/648640
https://www.scam-detector.com/validator/apexpaytrading-com-review/

london21

I would stay far away from this and Crypto generally.