bittrader
Do not invest in this company!!
Do not invest in this company!!! I am a current customer and I can tell you that it is not worth it. When you enter you are paying in BTC for the chosen package, and YOUR CAPITAL IS NOT BACK AT THE END OF THE TERM. So basically you are lending them your money that they will pay you back in about 10 months, calculating with the current profits. A 500 $ package since September has made me only 450 $ while the BTC price has tripled since then. They also deduct 20% withdrawal fee on all withdrawals, so I will need another 2 months or so to actually start making some profit. Also, if you decide that you want to end your contract early, they are deducting your withdrawals already made, plus a 20% admin charge, so basically it is useless to believe that you can get out with profit. Unless you are bringing others into the business, and thus help them build their pyramid scheme, there is no way you will profit from this.
Just do the math, keep your BTCs and DO NOT INVEST!!!
It is shame what this company has become
UPDATE
Requested the withdrawal in december an I still have not received it. The company has liquidity issues, and the KYC procedure is a total chaos. Not paying. Stay away.
It is shame what this company has become.
I have been quite happy with Mind Capital until 2020 Nov when all of a sudden the profits decreased drastically, the company blamed their funds being stuck in exchanges. Obviously, all the customers wanted to withdraw their investments this January. Normally the withdrawal of original deposits arrive at the wallets between the 5-10 of the following month. To gain time with paying the funds, the company introduced a new KYC process, and made it compulsory for everybody who wanted to withdraw this month. The KYC process is not the normal, straightforward process one that you would expect from a normal company, they are administering it wrong, the notice does not arrive to users, some get paid the others are still waiting. All they say is that we should wait patiently, and the customers are all frustrated flooding the customer support that does not respond. It is a total chaos, what they have there, I am sure it was intentional to introduce such a wrongly administered KYC process, and then blaming it on the users for for doing it correctly and saturating the support imbox with complaints.
Today is the 17th, and they still have not even enable the KYC for me in their system.
Absolutely disgusting and disappointing.
They always have an excuse for not processing withdrawals since Sep
The company was using the excuse for the withdrawal delays since mid-Sept saying they were updating to a new so-called SwiftXchange.
Now that this new exchange has appeared in the withdrawals section, nobody actually knows what it is, the company has not sent any info about it, and they have not been processing withdrawals since mid-Sept, only for the so-called affiliates, so that they can lure in more people.
Whatever SwiftXchange is, if it exists at all, it has not improved anything.
Customer service/Payments team only replies with automated responses, they are blaming the exchange for the non-payment of withdrawals.
Their BTC wallet address that they use for deposits is receiving money but there are no payments made from it. Check for yourself.
Any good reviews here or on YouTube are either affiliates, fake accounts or those who were able to do their withdrawal before Sep, before they increased the withdrawal limits to 75 days.
Trading-wise, they seem to make a lot of bad decisions , that they try to cover up with one-day winning trades, that they only post at the end of the trade, so I suppose they are just fake.
Changing their name here to WaMeng China Ltd. was a pretty pathetic move too.
This whole situation just makes me sick to the stomach.
You cannot even trust Trustpilot
Unfortunately, I only come to this site for reference because as soon as you can read in the Business Transparency section that the business "Pays to access extra Trustpilot features", you can be sure that it will have loads of fake positive reviews, and loads of genuine negative comments that the business reports, hence it is taken off the site for "review".
As TrustPilot is getting paid from these businesses, they will immediately comply and take down the negative reviews. Even if a reported comment turns out to be genuine and after review (1 week normally) Trustpilot puts it back, it does not stop the business from reporting it again. So it is a vicious circle, scam companies can basically cover up their schemes and TrustPilot is assisting them, because they are paid to do so.
TrustPilot is partially responsible for all the scams that can go on for so long before going bust and running away with all the investors's funds.
Just check the likes of BlueTrading, Adexo, IIinvestments, Worldmarkets etc.
Shame on you TrustPilot, you are not worthy of your name.
Thanks for getting in touch. I am sorry to hear you feel Trustpilot allows businesses to manipulate our platform, but would like to explain that under no circumstance does Trustpilot allow businesses to cheat or delete reviews. This would go against everything we stand for as a business, and simply is not possible.
As Trustpilot is an open review community, meaning anyone can review whether they have been invited by the company or not. This makes us different and special as a review community. This also means that we need to be sure that all reviews are genuine by giving businesses and consumers the option to report a review that does not seem compliant or genuine. You can read more about our reporting process here: https://support.trustpilot.com/hc/en-us/articles/207312237-What-happens-if-my-review-is-reported-
Businesses can not force us to delete reviews, and every review is held to the same standards and guidelines. No matter if a company is paying Trustpilot, or using us for free, the process is the same. We do not show favour to businesses as this would diminish the trust and transparency we have been building in the community for years, and this is the most important thing to us.
I hope this has helped to clarify how Trustpilot works, and reassures you Trustpilot is here to protect the community.
Thanks for getting in touch, drop me a line on support@trustpilot.com if you have any questions.
Kind regards,
Hayley
What about this name change to WaMeng…
What about this name change to WaMeng China Ltd.? The company cannot hold back the negative reviews anymore because even TrustPilot got suspicious?
Withdrawal limit increased to 75 days without notifying clients
It is very alarming that WM has increased the maximum allowed withdrawal to 75 days, previously we were allowed to make a withdrawal every 30 days. Also they did NOT send any kind of notification about such a major change, but they keep sending summer promo emails. Their customer service claims that when we joined the program we agreed to the Terms and Conditions and it gives them freedom to update it as they wish without notifying us. It rings a huge alarm. If they can radically change a factor that for most users is probably the most important of all, what stops them to do other major changes, such as shutting down the site blaming it on a software malfunction and going bust. As a moderately happy customer till now, I am really disappointed.
UPDATE: After reading the answer for World Markets:
A decent company would definitely NOT:
1. call a client silly
2. openly lie about sending communication about a policy change when other existing users confirm that it never happened (just read some comments on Youtube videos)
3. send incoherent and totally nonsense answer to a customer complaint
So, the endgame has started:
1. The company restricted withdrawals to 75 days
2. They are limiting the withdrawal amount
3. There will be one major drawdown and an email informing all users about a software malfunction that will leave all accounts in negative balance.
I'm afraid this is not correct at all. The exchange your account is traded at has these policies and we did send an email to all clients as did they. Your complaint is quite silly as many funds limit withdrawals to semi-annually or quarterly. Please contact us at transactions@worldmarkets.com to look into this further. Thank you.