Dominant Finance (dominant-finance.com) is supposedly a blend of trading and mining cryptocurrency which offers returns which are too good to be true. They are said to generate up to 16% monthly and as expected there is no evidence backing up their claims.
While we went through their platform and all the information put up by them, we were convinced that it is nothing but a neatly organised scam which will rip off investor’s money. This platform is getting promoted heavily on the internet but there are reasons for that too which we will discuss later in the review.
Before moving further with this platform make sure that you go through our article which will help you make an informed decision.
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Company and Contact Details
Dominant Finance is an ICO which offers investment opportunities to the retail clients. They basically raise funds required for purchasing mining equipments and to pay for other associated costs, in return the investors are promised certain amount of returns depending upon the type and duration of the contract they choose.
While we were looking for any licenses they should legally hold, there weren’t any. We have confirmed through FCA this firm has never been licensed thereby operating illegally.
Nonetheless these scammers have tried their best to appear genuine. They have featured a lot of registration documents of all sorts but rest assured they have no right to accept money from the retail investor.
The only contact detail provided by them is an email address.
Email – clients@dominant-finance.com.
Background
This firm has put up some details of the people who are supposedly involved in this firm. We could not find them any information about them online except on their website which makes us believe that they are all just imaginary characters with stock photo attached with them.
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Now ask yourself why would they put up fake details unless they are hiding something from us?
How does Dominant Finance Work?
This platform is said to be involved in trading and mining cryptocurrencies but there is no sort of credible evidence to prove that. The details of their trading approach is not revealed and there is no trial period provided by them.
We do not know which factors are considered by this firm before entering a trade and as expected there is no verifiable trading history provided by them. As far as mining is considered, there isn’t much information either.
They have not stated which equipments they use and where their mining farms are set up. We do not know which mining pool they are involved with. After looking at the lack of clarity associated with this platform, it is certainly not the one you want to mess around.
Returns Offered
Mining contracts cannot be valued in exact dollar figure as the fluctuation in the crypto market is huge. Regardless of which mining contract you choose this firm promises returns of 10% to 16% which is just impossible to achieve through mining.
If you do the math it adds to a staggering 192% ROI yearly. Doesn’t this sound a little too good to be true? Let us know what you think.
Affiliate Program
This firm encourages marketers, bloggers and any one who has access to web traffic to refer people on to their platform. The affiliates are paid fixed percentage of the deposits made by every investor they bring in.
Just like many of the scams we have seen before this platform does not require the affiliates to be an active investor in order to get their commissions. Their only motive is to make money and they are ready to do whatever it takes to achieve them.
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Domain Insight
According to whois.com this domain was registered on 27/03/2018 and it expires on 27/03/2023.
This website has a global rank of 406,652 and it ranks 32,098 in Russia according to alexa.com.
The majority of the users coming to this website are from Russia, Germany, United States, Netherlands and Nigeria.
Deposit and Withdrawal
The deposit and withdrawal methods supported by this platform are Bitcoin, BitcoinCash, Litecoin, Ethereum, Ripple, Dash, NIX money, PerfectMoney, Payeer and advcash. There is no information about the transaction fees. The time taken for processing withdrawals is not specified anywhere on their platform.
Is Dominant Finance a Scam?
A Dangerous one,
This platform is nothing but a ponzi scam which just happens to have all the bells and whistles resembling to that of a legitimate solution. Indeed their website is very appealing, minimalistic but that does not change the fact that we are dealing with a scam.
They will be operational as long as they are profitable but once they turn cash flow negative they will be gone.
Dominant Finance Review Conclusion
Dominant Finance is one of the biggest fraud company out there in the crypto trading and mining sector. There are heaps of complaints against them and thousands of investors have lost their hard earned money.
This platform features many technical factors and fake information which gives the investors a wrong impression of getting huge profits. Regardless of what type of mining farm you have it is just not possible to reach these kind of return on investments especially with the rising cost of machines and electricity. Avoid any type of dealing with this firm because at the end of the day the only ones to make money is them.
Detected a high risk to scam! Same company Digithereum, same people.
Absolutely scam project like Alpha Cash and Crypto Pride. Be carefull. No deasl with dominant-finance!
It’s easy enough to launch a rebrand scam and convince gullible victims to invest again. Whether the rebranded scam has anything to do with Questra World’s Alex Prochukhan and Cheslab Pestyuk however is another matter. To me this just sounds like a top investor hoping to fleece a list of gullible victims all over again. Questra World/ FWAM/ AGAM were shut down by the authorities. The same fate shall be for Domonant Finance
Recieved no refback from them!!! Registered in Belize, one of the poorest in Central America and have a fake office in Gotenburg, Sweden with a half-Russian team, but no one to have a talk with, who is in charge for it personally! Scam! Stay away from dealing with them!!!
New scam idea won’t be lasting long. More money lost for the fools who trust this garbage when there is more than enough evidence that it is an absolute scam. Pay more attention next time. Any payment received is money stolen from someone else. Accepting this stolen money makes the recipient party to the crime. Anyone who deposited money has already had that money stolen by thieves and their money is no longer available. Hope that helps.
A 80% Russian team (just have a look at the their board) of scammers residing (?) in Gotenburg, Sweden. What’s the funniest thing after the all procurator’s office of Stockholm is going to apply to Interpol with request regarding Alex Prochukhan based on the claims of 10 or so Swedes involved in the previous Prochukhan’s projects.
Typical Ponzi scheme – stay away at all cost! After a kind of “promotion period” when everybody is happy (paid correctly according to its “investment”) it continues with collapse: selective and disabled payments. Scam admins pack the rest of deposits of “partners” (victims) and disappear. Quite often people are encouraged to provide their personal data (personal ID document, passport, driving licence, selfie portrait, selfie with ID document, utility bill) to scammers. This is covered by KYC (Know Your Customer) policy, account verification process etc. other bullshit. Personal data can be later used for illegal activities and other scams (identity theft) for various purposes – money laundering, establishing new fraudulent “enterprises” with faked management, fraudulent loans, false identity of illegal immigrants etc.
It seems that the biggest problem with crypto tokens is that the market is barely regulated and controlled by financial authorities that makes Ponzi schemes and financial pyramids like Questra/ AGAM, Five Winds (FWAM), Digitherium, Alpha Cash, Golden Island possible.
And their creators, like Prochukhan and Pestyuk are still able not only to avoid criminal punishment and attack other market players with black PR-campaigns.
The market definitely needs international professional standards to be implemented as well some global regulative acts.
Also, in my opinion, the players shall create and participate in the professional associations, which would provide no place for the people like Alex Prochukhan and Cheslav Pestyuk.
As my Questra’s director (8th level) said, which is now in this project, the company is from Pestyuk and Prochukhan. And it’s as if everyone knows. This HAYP is likely to stretch for year or so. But to my question to jump in now or not, he advised it’s better not to do it anymore. So it’s up to you, risk if you’re lucky but you’ve been warned!
Fake company registration numbers:
170,292 Belize International Business Companies Act 1990
11362239 UK Companies Act 2006
2697171 Hong Kong Companies Ordinance 1984
188462 Florida Limited Liability Company Act 1982
1187746596421 FZ on state registration of legal entities and FE 2001
Also the website contains the address of the company: Belize Corner Hutson & Eyre street, Blake Building, Suite 302 Belize City. If you spend just one minute and search for this address upon Google, you come to the conclusion that there is no Dominant Finance company there.
Ok – so some of the company employees have Facebook profiles and they all appear in a picture together. How many scam sites do you find that on? Answer: NONE.