Investor Pilot Review: this is the name of a crypto trading platform offered by a Toronto based company. Is it safe or a scam? Can you trust Blockstation.com or not?
The company that offers this so called “100% insured crypto trading platform” is based in Canada. Since what we do is find out if the location of a company and if trading is regulated there, we find that it is important to let our readers know that crypto exchange is not under any commission yet in Canada.
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It is only recently that we heard that the Canadian Securities Administrators (CSA) and Investment Industry Regulatory Organization of Canada (IIROC) are working on putting rules for cryptocurrency trading in the country. But as of now, it is carried out there without regulation. This means that the company under review is not regulated.
Blockstation.com claims to be the future of crypto exchange and they urge traders to register “before seats fill up”. This is a popular method used by many investment companies to get investors to rush in. They claim to be secured & insured, offer unlimited withdrawals & deposits, and have a customizable platform.
How Investor Pilot Works
There is a form made available on the page that requires interested investors to fill in their names, email, country code and phone number. After this, they would likely be sent emails on how to proceed.
We have to warn readers again that many of these are ploys to get contact information of traders. Then they will start to send them unsolicited messages requesting them to join one investment or the other. This may not be the case with this company but it is a common tactic used by scammers.
It is common for brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.
However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.
To join the service, after creating an account and sending the details we mentioned above to get access to the investor portal and orderbook. Next clients are to provide identity verification and sign NDA to be connected to a broker-dealer. The broker-dealer will then open an account for the trader to start trading.
Withdrawals and Deposit Investor Pilot
Deposits are free and come without charges. Withdrawal of all funds are possible and even so if the account is to be closed by the trader. It takes between 24 to 72 hours to complete withdrawal requests.
The digital currencies available for the trading platform are the BTC/USD pairs. Accounts can be funded using either USD or BTC. Other digital assets are said to be announced when they are available. Transaction fees are also said to be around 30 to 40 bps but varies based on the broker a client is assigned to.
There is no client review available on any third-party website. This is a discouraging find and shows that it is not popular in the market yet. Traders prefer to know what others are saying about an investment before venturing into it.
To get in touch with the team running the program or a customer care representative, call: 1-833-ECN-COIN.
Investor Pilot offers a crypto-trading platform. But it is not a licensed firm and thus, funds safety is not assured.
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