betalivetradepro (also known as betalive Trades) is an online platform offering CFD trading in forex, stocks, indices, futures, precious metals, energy, and cryptocurrencies.
Company Background
According to the official website, betalive Trades claims to be a UK-registered company with registration number 10263501 and boasts 23 years of financial trading experience. However, investigations reveal that this registration number actually belongs to CRYPTOX LTD, not betalive Trades, as per the UK Companies House records.
Additionally, the platform claims it was founded in 2013 and registered in Australia, but this statement contradicts the actual information on their website. The "About Us" page content has been shown to be copied from the broker TMGM's official site.
Domain and Founding Date
The official website's domain is betalivetradepro.com, registered on February 24, 2024. This information is inconsistent with their claimed 23 years of financial trading history.
Trading Platform and Account Types
betalivetradepro offers four types of accounts: BRONZE PACKAGE, SILVER PACKAGE, GOLD PACKAGE, and PREMIUM PACKAGE. The minimum deposit for each ranges from $1,000 to $115,000. Details are as follows:
- BRONZE PACKAGE
Minimum Deposit: $1,000
Maximum Deposit: $9,999
Investment Type: Short and Long-term
Base Currency: USD
Services: Full IT Support
Referral Bonus: Supported
Hedging: Allowed - SILVER PACKAGE
Minimum Deposit: $10,000
Maximum Deposit: $29,999
Investment Type: Short and Long-term
Base Currency: USD
Services: Full IT Support
Referral Bonus: Supported
Hedging: Allowed - GOLD PACKAGE
Minimum Deposit: $30,000
Maximum Deposit: $114,999
Investment Type: Short and Long-term
Base Currency: USD
Services: Full IT Support
Referral Bonus: Supported
Hedging: Allowed - PREMIUM PACKAGE
Minimum Deposit: $115,000
No Maximum Limit
Investment Type: Long-term
Base Currency: USD
Services: Full IT Support
Referral Bonus: Supported
Hedging: Allowed
Trading Software and Transaction Methods
The platform does not clearly specify the trading software used, and users can only register and trade through their proprietary web-based system. Additionally, the website does not disclose the transaction methods, processing time, or related fees, indicating a lack of transparency.
Regulation Information and Company Address
betalivetradepro claims to be regulated by two major financial jurisdictions: Australia (ASIC) and Vanuatu (FSC).
Upon investigation, no regulatory information was found for betalivetradepro Australia Pty Ltd on the ASIC website. The regulatory number 436416 provided on the website belongs to the broker TMGM under Trademax Australia Limited in Australia. Similarly, the Vanuatu regulatory entity provided, Trademax Global Limited, is also affiliated with TMGM.
The website claims the company's address is located at 71-75 Shelton Street, Covent Garden, London, UK, but UK Companies House shows no company registered at this address for this platform.
Staff Information
The platform's website displays information for some staff members, including Kimberly Gram (CEO) and Selena M Sancho (Financial Manager). However, upon verification, the staff information used by betalivetradepro is identical to another fraudulent platform, Legal Fx Trades Mining, using publicly available images that do not match the individuals.
Website Traffic and Design
According to the traffic analysis tool Semrush, the website has an average monthly visit count of less than 100, with virtually no active users. Additionally, the platform uses the same webpage design templates as several known scam companies such as Apex Brokerage and HorizonCapitalMarket, indicating it may be a mass-produced fraudulent platform.
User Reviews and Brand Exposure
There are virtually no user reviews available online for betalivetradepro, nor any related news coverage, further questioning the platform's credibility.
Contact Information and Social Media
The website only provides email addresses ([email protected]/[email protected]) for customer contact and lacks any official accounts on social media platforms such as LinkedIn, Facebook, Instagram, Twitter, or YouTube. This indicates a lack of necessary social media interaction and increases the platform's secrecy.
Risk Report
- False Company Background
The platform's claimed company background does not match the actual registered information, suggesting potential false advertising. - Mismatch in Regulatory Information
The official claims of regulation by Australia's ASIC and Vanuatu's FSC cannot be verified, and the provided regulatory numbers belong to other brokers, TMGM, indicating a lack of regulation and increased platform risk. - Lack of Transparency
The platform fails to clearly provide trading software details, transaction methods, and related fees, making it hard for investors to obtain clear operating guidelines, increasing operational risks. - Suspicious Staff Information
The staff information presented by the platform is identical to other scam platforms and uses publicly available pictures, lacking credibility. - Website Design and Traffic
The website has extremely low traffic and uses the same template as several known scam companies, suggesting it could be part of a mass-produced fake platform. - Lack of Social Media Presence and User Reviews
The absence of user reviews and news coverage, alongside the lack of official social media accounts, enhances the platform's secrecy and untrustworthiness.
Conclusion
In summary, betalivetradepro presents numerous risks, including a false background, non-transparent trading methods, undisclosed transaction policies, dubious staff information, and low website traffic, making it a high-risk platform. Investors should remain highly vigilant to avoid potential fraudulent activities.
