ARE THEY LEGIT?

Mr Richard do you know a company called Legit Notch FX they are in Bitcoin mining.

Firstly, I’m very grateful that you asked before “investing” with a company like this. That’s because it shows all the signs of being a scam. Firstly, while they have a web site which describes them as a “Trusted Forex and Cryptocurrency Broker”, they give no clues about where they might be based. They give a phone number that appears to be in Delaware in the USA but their domain is registered to an address in Iceland. It was also only registered in January 2022. It doesn’t add up.

Because they don’t seem to offer their location it’s also almost impossible to see if they’re a registered company anywhere in the world. I suspect they’re not. The biggest clue that this is a scam is actually their web site. Like many such crypto and forex trading sites they offer testimonials from what appear to be satisfied customers, including pictures of these customers. However, these testimonials are clearly fake because I found identical pictures with identical comments on several other scam crypto and forex sites.

The biggest lesson for all of us about cryptocurrencies is that it’s an incredibly risky place to put our money. Only a few weeks ago, FTX, the third biggest cryptocurrency exchange in the world collapsed losing investors billions of dollars. In sworn evidence, John J Ray, the appointed liquidator of FTX said that “Never in my career have I seen such a complete failure of corporate controls and such a complete absence of trustworthy financial information as occurred here”. That’s not just true of FTX, it’s a real risk even with the legitimate exchanges. There is no oversight, no effective regulation, no protection if things go wrong. Is that a risk you’re prepared to take with your money?