A United States regulator warning has been issued against Ultimate Crypto Fx in September 2023
If you are looking for a reliable and trustworthy broker to trade cryptocurrencies, you might have come across Ultimate Crypto Fx. This is a platform that claims to offer low spreads, fast execution, and high leverage on various crypto pairs. But is Ultimate Crypto Fx a scam or a legit broker? In this review, we will examine the features, pros, and cons of Ultimate Crypto Fx and help you decide if it is worth your time and money.
What is Ultimate Crypto Fx?
Ultimate Crypto Fx is an online broker that specializes in cryptocurrency trading. It was founded in 2018 and is based in St. Vincent and the Grenadines. According to its website, Ultimate Crypto Fx has over 100,000 clients from more than 80 countries and offers access to more than 50 crypto assets, including Bitcoin, Ethereum, Litecoin, Ripple, and more.
Ultimate Crypto Fx claims to provide a user-friendly and secure trading environment, with advanced trading tools and indicators, multiple account types, and 24/7 customer support. It also boasts of having competitive trading conditions, such as low spreads starting from 0.1 pips, fast execution speed of 0.01 seconds, and high leverage up to 1:1000.
How does Ultimate Crypto Fx work?
To start trading with Ultimate Crypto Fx, you need to register an account on its website and verify your identity and address. You can choose from four account types: Basic, Standard, Premium, and VIP. Each account type has different minimum deposit requirements, ranging from $250 to $50,000, and different benefits, such as free signals, personal account managers, and access to webinars and educational materials.
After funding your account, you can download the Ultimate Crypto Fx trading platform, which is compatible with Windows, Mac, Android, and iOS devices. The platform is based on the popular MetaTrader 4 software, which is widely used by traders around the world. The platform allows you to trade various crypto pairs with different order types, charting tools, technical indicators, and automated trading strategies.
You can also trade on the go with the Ultimate Crypto Fx mobile app, which has similar features as the desktop version. Alternatively, you can use the web-based platform, which does not require any download or installation. The web platform has a simple and intuitive interface that lets you access the market from any browser.
What are the pros and cons of Ultimate Crypto Fx?
Pros:
- Offers a wide range of crypto assets to trade
- Supports multiple payment methods, including credit cards, e-wallets, and cryptocurrencies
- Provides a user-friendly and secure trading platform based on MetaTrader 4
- Has low spreads and high leverage on crypto pairs
- Offers multiple account types with different benefits
- Has 24/7 customer support via phone, email, and live chat
Cons:
- Is not regulated by any reputable authority
- Has a high minimum deposit requirement for some account types
- Does not offer any demo account or free trial
- Has received some negative reviews and complaints from customers online
- May charge hidden fees or commissions on withdrawals or deposits
Is Ultimate Crypto Fx a scam or a legit broker?
Based on our research, we cannot recommend Ultimate Crypto Fx as a reliable and trustworthy broker. While it has some attractive features and benefits for crypto traders, it also has some major red flags that raise doubts about its legitimacy and credibility.
The most concerning issue is that Ultimate Crypto Fx is not regulated by any reputable authority. This means that it does not have to comply with any rules or standards that protect the interests and rights of traders. It also means that it does not have to segregate client funds from its own or participate in any compensation scheme in case of insolvency or fraud.
Another issue is that Ultimate Crypto Fx has a high minimum deposit requirement for some account types. This may deter some traders who are looking for a low-cost entry into the crypto market. Moreover, Ultimate Crypto Fx does not offer any demo account or free trial that would allow potential customers to test its services before committing their money.
Furthermore, Ultimate Crypto Fx has received some negative reviews and complaints from customers online. Some of these complaints include:
- Difficulty in withdrawing funds or closing accounts
- Poor customer service or lack of response
- Manipulation of prices or spreads
- Unauthorized charges or deductions from accounts
- False or misleading advertising or promises
Therefore, we advise you to be cautious when dealing with Ultimate Crypto Fx and avoid investing your money with this broker. There are many other reputable and regulated brokers that offer better services and conditions for crypto trading.
What to Do If You’ve Lost Money with Ultimate Crypto Fx?
If you have been scammed by Ultimate Crypto Fx or any other broker, you’ll want to seek assistance from cryptocointrace.com immediately. Our experts will consult with you and bolster your claim to help you get your money back. Cryptocointrace.com is a leader in recovering your funds and will help you retrieve your funds from a broker scam.
