CryptoFX is the representative of the online trading sphere which presents itself as a super company, with the helpof which even a beginner can quickly and easily multiply his starting capital.
Perhaps such advertising, aimed at inexperienced investors who are just making their first steps on the trading floors, will have an effect. As for experienced traders they understand at once that such a promise is not executable and it is a deliberate lying information of the broker, which he preaches from the main page of his official website.
This is another pseudo broker, which in fact is a HYIP-project, which is based on the principle of the traditional financial pyramid.
Types of trading accounts offered by Сryptofx.club
According to his own information, the broker Cryptofx.club offers a wide variety of trading plans: as many as 4.
To trade immediately on a real and demo account. For the participants of the trading platform, the minimum entry amount is 100 American dollars. Usually on platforms, where crypto-currencies are traded, higher starting deposits are accepted, as it is not possible to earn insignificant sums in this direction.
On the one hand, this allows many traders to try their forces in trading with real money, but on the other hand, it becomes clear that the crook is not against inviting everyone who has at least a small amount of money. The amount of interest rates can vary depending on the wishes of the creator of the platform. This causes some difficulty in tracking the data. As a rule, profit margins fluctuate around 5-8% per day.
The tabs of the official website are literally oversaturated with advertisements, with only self-praising odes about themselves. The broker calls itself the best company, which can boast of dynamic development, taking a leading position in the market, and offers the best conditions. As for trading operations, Cryptofx.club promises honesty, transparency, reliability and safety. In general, a minimum of specifics, a maximum of bullshit advertising.
This confirms the fears that traders who decided to entrust their money to the so-called Cryptofx.club broker will encounter a typical hype: the broker actively operates the methods of aggressive and intrusive advertising, as its main task is to lure as many investors as possible and to drain their deposits.
Cryptofx.club Trading conditions
Cryptofx.club announces that its services can be used by traders around the world because it has representative offices in many countries. The broker is presenting its platform as a multilingual one. In fact, to date, the information on the site can only get English- and Russian-speaking users. But there is a disadvantage: The main page is only available in English. But Russian-speaking users can find the information on the registration page in their native language. The broker promises to add other languages soon.
It is extremely incompetent and unprofessional to treat their clients this way, and even more so to classify themselves as a successful company in the segment.
Moreover, the broker uses VOIP services when making calls, which allows them to be anywhere and simply create the impression that they are calling from a completely different country, virtually changing the location of outgoing calls at their own discretion.
They often operate on social media platforms in search of new victims for their scams. To do this, they use a fake, fake profile, photos and descriptions, including even reviews, passing off custom or handwritten comments as customer feedback. The main thing for the fraudster is to make the client "bait" into the beautiful advertisement and believe that the project is very promising to work with.
At first glance, the site seems to be quite adequate, the trading conditions for traders are quite suitable, and cooperation is promising and profitable. However, all illusions are dispelled when getting to know each other better, when you stumble upon another one shortcoming or see many flaws that "appear" after a deeper inspection.
The broker offers more than 300 trading instruments, low spreads, bonus payments and a number of other advantages.
In addition, traders can take advantage of a personal account manager and receive 24/7 technical support, including free analytics, incentives for inviting friends, and more. Such promises are generously handed out by every other scammer, so only beginners in the field of trading can believe in them.
It's all positive and profitable. Everything instantly dispels, like the morning fog, when the investor requests the withdrawal of funds. Namely, the support service stops responding to messages, the program points out many errors and the accounts of the vast majority of users are simply blocked. In this case, the platform disclaims all obligations and sometimes reports that the trader himself is at fault - for example, he made a mistake or did something wrong which led to an instant "ban". It happens that even after such a "scam" scammers "write off" all the low amount at the entrance, offering now all the "win back", but with a higher deposit.
And the truth is that the site, or rather its creators have no plans to pay their users. The money instantly after the crediting to the user's account is withdrawn to other, fake accounts, and the trader is never allowed to do the real trading. Everything is done on a special site, which is "taken" by a link when you enter the site. For an investor, of course, such cooperation is meaningless, but most realize it rather late: when the swindlers have already robbed their pockets.
Judging by the reviews and the incomplete state of the official website, it seems that the company is quite young and only recently (for example, a few months ago) joined the list of crypto market participants.
The broker, on the other hand, says quite the opposite in the "About Us" section of its website.
It turns out that, according to "first-hand" information, the broker with such a disgusting quality of work and poor reputation has 21 years of experience in the field of trading operations.
The story of how the business started is copied from other similar pseudo-brokerage projects. Such a touching story about two friends, who were at the origins of the company and 19 employees, has already been read more than once in the preparation of reviews.
It turns out that the scammers simply change the name of the project an infinite number of times, i.e. zero out its past to start the fraudulent wheel all over again. Information about how many times it was done, the scammer carefully hides.
The facts and the stories on the site do not fit together, so let's continue the investigation.
Let's check the information about the domain registration. Cryptofx.club server is based in America, more precisely in North America.
According to the information received, the name was registered in August 2019. It is from this period that we managed to find mentions of the company on the web.
Let's go further.
The website states that the company can actually be found in the United Kingdom of Great Britain.
In reality the address turned out to be a fake. To be more exact, there is such an address, but they have never heard of Cryptofx.club. On the net they write that the owner of the building confirmed the same information.
Now we come to the most important thing - to verify the presence of official documents that could confirm the company's right to conduct brokerage activities.
Of course, the brokerage states on its website that it is a legal representative of the financial sector. We did not find any proof of it. As the location of the broker is UK, it has to be under the control of the FCA. Here is what the regulator tells us:
We cannot call this information unexpected. Moreover, just recently the broker
Cryptofx.club received a warning letter from official Italian regulator about prohibition to provide brokerage services to Italian citizens.
Regulators around the world exchange and share information with traders about fraudsters. The hero of our review Cryptofx.club also got into such a list.
To date, the BCSC, which acts as a regulator on the Canadian market in British Columbia, added to the list of companies (in particular brokers of Forex, CFD, binary options and cryptocurrencies) that operate without the necessary permits.
It turns out that the broker - just an illegal scam, which is not even able to maintain a stable operation of its official site.
Cryptofx.club Reviews online
The reviews that are presented online are mostly negative.
People often complain about the unsatisfactory work of the support service.
Users resent the poor quality of service and functionality of the site.
Traders talk about the lack of withdrawal of funds. And also about the fact that the broker allows himself to enter new data "retroactively" and cheat investors in every possible way.
Safety and security of funds with Сryptofx.club
The broker is not interested in keeping and increasing the clients' capital. And as the project is operating illegally, i.e. without any licenses, there will be no one to lag behind.
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Cryptofx.club is a scammer which renders brokerage services without licenses. Moreover the broker's track record includes a warning from the Italian regulator.
Virtually everything here says about it. The confirmation of this fact can be found at every step. To work with such a broker is to instantly nullify your accounts - the money is not returned, the withdrawal of profits is denied.