Singapore IT Corp Review

Singapore IT Corp (singitcorp.com) is an investment firm which claims to earn its users a stable returns of up to 1.2% per day with little to no risk associated.  The creators behind this firm have maintained an anonymous profile.

When we were investigating this service, we were really surprised by the way they have designed their platform which seems completely genuine in front of the innocent and inexperienced investors.  

Before you proceed with this service, read our full review to save yourself from a lot of regret.

License and Contact Details

Singapore IT Corp is an ICO which raises fund required for trading stocks from the public and in return the investors are promised certain returns dependent upon the investment plan chosen by them.  While we were checking the legitimacy of this company, there weren’t any documents confirming the licenses they must lawfully hold which means they are simply filling their wallets with the clients money.

This firm features a couple of registration certificates on their website which is just a shady practice used by scams to earn the trust of the investors.  Here are some of the contact details of this firm:

Address – 41st Floor, Millenia Tower, One Temasek Avenue.

Phone – +6563389289

Email – support@singitcorp.com

How does Singapore IT Corp Work?

The narration given by this company is one of the most vague statements we have ever seen.  They state that they choose fast growing investment projects and sell them for huge profits.  They also claim to generate revenue from dividends as well. Their explanation does not make any sense.  

The financial markets are not easy to predict like these fraudsters would like you to believe. The asset price are affected by many factors and unless you have total idea about how markets work, you trading account can face a serious drawdown.  

We have no idea about what factors creates a trading bias. Investing your money with this firm is just like gambling because in either of them you have no edge whatsoever.

Profits Advertised

In recent times fake investment firms are trying their best to earn the trust of the investor.  This firm claims to generate returns of up to 1.2% per day. To many investors this number seems to appear completely achievable but in reality these kind of returns cannot be achieved consistently.  

If you do the math it adds to 36% return on investment monthly. Do you really think these bunch of self proclaimed traders can achieve them? Here are the complete details of the investment plans:

Elementary

Duration – 30 Days

Returns – 0.75% per day

Ref. Commission – 5%

Base

Duration – 60 Days

Returns – 0.9% per day

Ref. Commission – 5%

Pro

Duration – 90 Days

Returns – 1% per day

Ref. Commission – 5%

VIP

Duration – 120 Days

Returns – 1.2% per day

Ref. Commission – 5%

According to the profit calculator provided on their website if you invest $2000 you will get more than $6,000 after 4 months.   Sound too good to be true, right?

Referral Program

Every ponzi schemes has only one primary motive which is to make money and this one is no exception.  They offer an affiliate program where in any individuals who promote their platform are paid 5% of the deposit amount made by their referrals.  

The affiliates do not necessarily have to be an active participant of the scheme in order to get their share of the revenue.

Testimonies

There are a ton of testimonies on this website which just goes on and on for pages.  Isn’t it strange for a company to have some many reviews and yet have no negative comments?  

If you go through some of the reviews then you will quickly find out the fact that they are very misleading to say the least.  Since there is no way to verify the identity of the customers who expressed their views, we strongly believe that all of them are from fake user profiles.

Domain Popularity

According to whois.com this domain was registered on 18/10/2017 and it expires on 18/10/2020.  Here are the registrant contact details:

Name – Anthony Chang

Address – One Temasek Avenue, 41st floor, Millenia Tower, Singapore.

This website ranks 20,023 in Russia and has a global rank of 317,840 according to alexa.com.

The majority traffic coming to this website are from Russia, Georgia, Ukraine, Kazakhstan and Belarus.

Deposit and Withdrawals

The minimum spend is $10 and the minimum withdrawal amount is $0.10.   The e-currencies supported by this platform are Visa, PerfectMoney, Payeer and advcash.  

There is no information on transaction fees. The withdrawals are said to be processed usually processed within 1 hour but sometimes it can take up to 5 business days.

Is Singapore IT Corp a Scam?

Yes,

The number of unethical practises followed by this platform is through the roof.  

They have not shown any verifiable trading history. If this firm somehow miraculously found a strategy which triples the money within few days then why are they not selling it to the big hedge funds or investment banks?  Never give these scammers the benefit of doubt because if you do chances are you are going to regret it.

Singapore IT Corp Review Conclusion

Singapore IT Corp is a fake investment firm which utilizes funds got from registration of new investors to pay the old ones and still get to make some amount on top.  

After certain time period they eventually will not be able to find new investors for their scheme, once they reach this point they will simply disappear with all your funds.  These type of ponzi scams always collapse and not to mention they are illegal in most of the countries.

Got scammed by Singapore IT Corp?  Share your experience and opinions by commenting below.