In this Cotps.com review, we will cover everything you need to know about the platform and determine whether it is legitimate or just another scam. Cotps is a well-known arbitrage trading platform that enables you to invest and earn a specific percentage return on investment by trading virtual arbitrage.
Overview
A common HYIP fraud is COTPS. High-yield investment programs, or HYIPs, offer substantial passive returns to investors.
6547 N Academy Blvd, Colorado Springs, Colorado, USA is where Cryptos OTC Trading Platform’s official registered office is located. The location of this company’s office, which allegedly employs more than 100 people, is there.
However, if you look up the address, you’ll discover that it’s a rented mailbox.
Broker Status: | Unregulated Scam Broker |
Broker Regulation: | Unlicensed Crypto Provider / No Regulation |
Scammers Websites: | cotps.com / cotps.net (Both sites are inactive, verified 10/05/2022) |
Operating Status: | Active Crypto Trading Scam |
Blacklisted as a Scam by: | N/A |
Broker Owner: | Cryptos OTC Trading Platform |
Headquarters Country: | US (allegedly) |
Foundation Year: | 2019 |
Trading Platforms: | WebTrader |
Mobile Trading: | Available via Web Browser |
Minimum Deposit: | 9 USDT |
Deposit Bonus: | Available |
Crypto Trading: | Available |
CFD Trading: | No, you can’t trade CFDs |
Trading Instruments: | Cryptocurrencies – OTC trading |
Maximum Leverage: | N/A |
Islamic Account: | Not Available |
Demo Account: | No, only live trading accounts |
Accepts US Clients: | US traders are accepted |
Is COTPS Regulated?
COTP is a US firm because it is registered in Colorado. It should be regulated because it is obviously offering investing services, yet it is not. As a result, it is an unlawful investment service and is breaching the law.Do not be duped by Cryptos OTC Trading Platform Limited’s FinCEN registration. The Financial Crimes Enforcement Network (FinCEN) does not have regulatory authority over securities offers or investing services.The FinCEN makes it very clear that a company’s listing on its website does not imply that it is legitimate.You see, anyone may register with FinCEN by just filling out an online form. The FinCEN won’t verify that you are a legitimate company with the necessary licenses to carry out the services you provide.
How Does COTPS work?
In essence, the platform aids users in completing transactions and profiting from them.
In order to automatically handle trading orders, it makes use of algorithms and artificial intelligence.
Customers were encouraged to invest their funds using a cryptocurrency wallet and the USDT token. Due of its connection to the US dollar, this coin maintains its stability.
You could start trading cryptocurrencies after making an initial payment, and the broker’s staff kept promising you big profits and incentives if you introduced your friends and relatives.
With the help of a referral link, your level was raised from 3 and 5% to 1 and 15%. Additionally, the business promised returns of up to 3.6% every day, or 0.3% every two hours.
Moreover, You can read our scam reviews of Bitky, AthensMarkets and COTPS.
Customer Support
The support personnel is what ponzi schemes rely on the most. After all, even after seeing an advertisement, it’s human touch that persuades you to sign up.
COTPS performed a fantastic job, uploading pictures of the decision-makers and creating various TikTok, YouTube, and other social media posts.
The films were all produced by hired actors, and it came out that all the pictures were stock photos rather than genuine individuals. So, you’re not really sure who’s behind the con.
Additionally, the support staff spoke often with clients, furthering the narrative. All up until February of this year, when the investment company deleted all of its domains.
How Does They Trade?
Crypto was the sole asset supported by the COTPS trading fraud. The business invited customers to enter the realm of virtual coins and trade money in accordance with its forecasts. This could have worked before many similar frauds joined the market when individuals were still uninformed about how the cryptocurrency market works.
An FTC research claims that in 2021, cryptocurrency criminals stole over $1 billion, and people are well aware of all the scams. Because of this, COTPS ultimately collapsed and is now attempting to reestablish itself through new fraud techniques.
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What To Do If You Get Scammed?
If you have already involved with COTPS and lost your investment, you can report the scam here and our experts will analyze the report and will contact you.
Final Thoughts
It is evident from all you have read so far that the COTPS scam is a classic MLM. The broker is more concerned with bringing in new participants than with keeping its investors and business successful.
Everything broke apart and the company was revealed as a hoax after it was made evident that there was no profit and the customers’ revenues were derived from the deposits made by their friends and relatives.
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