Expert Mining Trade Forex Broker provides real users with 1 positive reviews, * neutral reviews and * exposure review!
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The service I get at Expert Mining Trade is by far the best. I have had accounts with various platforms, and they tell me about risks. I came for Bitcoin and was told of the risk and the entry price before I told them what I want to invest. They have looked after me and helped me since January. I never write reviews before. I felt it is well deserved. Thanks.
Summary: The Expert Mining Trade platform has attracted significant scrutiny, with numerous reviews labeling it as a potential scam. Users have reported issues with withdrawals and a lack of transparency regarding the platform's operations. Key concerns include its unregulated status and the questionable legitimacy of its claims.
Note: It is essential to recognize that various entities operate under similar names across different regions, which may complicate the evaluation of their legitimacy. This review aims to provide a fair and accurate assessment based on available data.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 3 |
| Trustworthiness | 2 |
| User Experience | 3 |
How We Rate Brokers: Our ratings are based on user feedback, expert analysis, and the available features of the brokerage.
Founded in 2017, Expert Mining Trade claims to be a cloud mining platform that allows users to mine various cryptocurrencies without the need for expensive hardware. The platform reportedly has over 100,000 active users and claims to operate more than 10,000 mining rigs globally. However, it operates without any regulatory oversight, which raises significant red flags about its credibility. Users have reported that the platform offers limited support, primarily through email, and lacks the transparency typically expected from legitimate brokers.
Expert Mining Trade operates without any regulatory oversight, which is a significant concern for potential investors. The absence of regulation means there is no authority to turn to in case of disputes or issues with the platform. The Alberta Securities Commission has issued warnings regarding the platform, indicating that it may not be a safe environment for trading.
The platform appears to support various cryptocurrencies for deposits and withdrawals, but the exact currencies available are not clearly stated in the reviews. Users have reported issues with withdrawals, often facing delays or being pressured to deposit additional funds before they can access their earnings.
The minimum deposit required to start trading on Expert Mining Trade is reported to be $50, which is relatively low compared to other platforms. However, the platform's credibility is called into question due to its unregulated status and the numerous complaints regarding withdrawal issues.
There is little to no information available regarding bonuses or promotions offered by Expert Mining Trade. The lack of promotional incentives may indicate a focus on attracting users without providing substantial benefits.
Expert Mining Trade primarily focuses on cryptocurrency mining, allowing users to mine several cryptocurrencies, including Bitcoin and Ethereum. However, there is no evidence provided that the platform actually engages in mining activities or pays out profits as claimed.
The reviews do not provide specific details on spreads, fees, or commissions associated with trading on Expert Mining Trade. However, the general sentiment indicates that users are often faced with unexpected costs, particularly when attempting to withdraw their funds.
The platform does not clearly specify leverage options available to users, which is a common practice among unregulated brokers. This lack of information can be concerning, as high leverage can lead to significant losses for traders.
Expert Mining Trade does not appear to offer access to popular trading platforms such as MT4 or MT5, which are standard in the industry. Instead, it seems to operate on its proprietary platform, which may lack the features and tools offered by more established platforms.
While specific restricted regions are not mentioned in the reviews, the absence of regulation suggests that the platform may not be available or advisable for users in jurisdictions with strict financial regulations.
Customer service appears to be limited primarily to English, and users have reported significant issues in reaching support. The lack of multiple language options may alienate non-English speaking users and further complicate the user experience.
| Category | Rating (out of 10) |
|---|---|
| Account Conditions | 3 |
| Tools and Resources | 4 |
| Customer Service and Support | 2 |
| Trading Setup (Experience) | 3 |
| Trustworthiness | 2 |
| User Experience | 3 |
Account Conditions: The platform offers a low minimum deposit but lacks transparency about its operations and user agreements. Users have reported difficulties in accessing their funds, which significantly impacts the overall score.
Tools and Resources: While the platform may provide some basic tools, it lacks the comprehensive resources available on more reputable platforms.
Customer Service and Support: Users have consistently reported poor customer service, with limited channels for support and slow response times.
Trading Setup (Experience): The user experience is hindered by the platform's lack of regulation and transparency, leading to a negative perception among users.
Trustworthiness: The absence of regulation and numerous warnings from financial authorities contribute to a low trust score.
User Experience: Overall, user experiences have been negative, with many reporting issues related to withdrawals and customer service.
In conclusion, Expert Mining Trade has significant concerns regarding its legitimacy as a trading platform. The combination of unregulated status, poor customer service, and numerous user complaints suggests that potential investors should exercise extreme caution before engaging with this broker.
