Cryptfxoptions.com is a website that claims to offer online trading services for various assets, such as forex, stocks, commodities, and cryptocurrencies. The website promises high returns, low fees, and professional support. But are they legit or just another scam?
In this blog post, we will review cryptfxoptions.com and try to answer some of the questions that you may have before investing with them. We will look at their background, regulation, trading platform, account types, deposit and withdrawal methods, customer service, and reputation.
Background and regulation
Cryptfxoptions.com was launched in 2019 and claims to be based in London, UK. However, we could not find any evidence of their physical address or registration number on their website or elsewhere. Moreover, the website does not mention any regulatory authority that oversees their operations or protects their clients’ funds.
This is a major red flag, as it means that cryptfxoptions.com is operating illegally and without any accountability. If you invest with them, you are risking losing your money to a fraudulent scheme that can disappear at any time.
Trading platform and account types
Cryptfxoptions.com offers a web-based trading platform that does not require any download or installation. The platform looks simple and user-friendly, but it lacks many of the features and tools that you would expect from a reliable broker. For example, there is no demo account option, no trading indicators or signals, no charting tools or analysis, and no educational resources.
The website also offers four account types: Basic, Standard, Premium, and VIP. The minimum deposit for each account is $250, $500, $1000, and $5000 respectively. The accounts differ in terms of the leverage ratio, bonus amount, and access to some services. However, the website does not provide any clear information about the trading conditions, spreads, commissions, or fees for each account.
Deposit and withdrawal methods
Cryptfxoptions.com accepts deposits via credit cards, debit cards, wire transfer, Skrill, Neteller, and Bitcoin. However, the website does not disclose any details about the minimum or maximum deposit amounts, processing times, or fees.
The withdrawal process is even more obscure and problematic. The website states that withdrawals are subject to verification and approval by the broker’s compliance department. However, there is no mention of how long this process takes or what documents are required. Moreover, the website imposes various restrictions and charges on withdrawals, such as a minimum withdrawal amount of $1000 for wire transfer and Bitcoin, a 10% fee for withdrawals before reaching a certain trading volume (which is not specified), and a 5% fee for withdrawals via e-wallets.
Customer service and reputation
Cryptfxoptions.com claims to have a 24/7 customer support team that can be reached via phone, email, or live chat. However, we tried to contact them several times and did not receive any response. The phone number provided on the website is not working and the live chat option is always offline.
The reputation of cryptfxoptions.com is also very poor among online traders and reviewers. We found many complaints and negative feedback about them on various forums and websites. Some of the common issues reported by their clients include:
- Difficulty in withdrawing funds or getting refunds
- False or misleading information about their services and offers
- Aggressive or rude sales representatives
- Manipulation of prices and trades
- Account closure without explanation or notice
Conclusion
Based on our research and analysis, we conclude that cryptfxoptions.com is not a legit broker but a scam that should be avoided at all costs. They are not regulated by any authority, they do not provide any transparency or security for their clients’ funds, they offer a subpar trading platform and account types, they have hidden fees and charges on deposits and withdrawals, they have poor customer service and reputation.
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