Overview of Cryptrader Review
Cryptrader claims to be a top forex and CFD broker that has millions of customers hailing from all the corners of the world. They also claim to offer trade in a wide variety of tradable instruments with over 70 crypto CFDs. Although all of this seems promising and might sound like a decent brokerage firm, Cryptrader is the exact opposite of decent and we will tell you why. Read on to know more about the Cryptrader scam in this Cryptrader review.
In this section, we will be discussing in detail all the offers and demands met by the brokerage firm. We will also be pointing out and explaining the red flags or the green flags that will be posted in this review about Cryptrader.
Cryptrader, on its website, claims to be regulated by top-tier regulators around the globe. They also proudly state to be people’s favorite due to their fame around the globe. Regulation is a very important point to be noted while checking whether a company is a scam or not. Therefore, scam brokers often falsely claim their legitimacy. While looking into the working of Cryptrader, we found out that the company is actually not registered or regulated under any of the regulations. The company is actually owned by another firm that has a license from St.Vincent and the Grenadines. For those who are not aware of this place, St.Vincent and the Grenadines is actually an offshore zone that does not have a regulation presiding over the brokerage firms. Therefore, it is relatively easier for scam brokers to obtain a license from the offshore zones. This gives us the first red flag against the Cryptrader scam in this Cryptrader review.
Cryptrader Minimum Deposits:
The minimum initial deposits are yet again a point noted while checking whether a company is a scam or not as the scam brokers tend to ask for very high deposits whereas the regulators advise the legit brokerage firms not to ask for such huge amounts of money. In our case, Cryptrader asks for a minimum initial deposit of $250. This amount is very high and very common in between the scam brokers. Therefore, this gives yet another red flag against the Cryptrader scam in this Cryptrader review.
Cryptrader Trading Platform:
This is yet another example of how well Cryptrader has played with its words and attempted to trick innocent customers. On their website, the company claims to have the best trading software with an easy user interface for the best trading experience for the customers. However, upon looking at their trading software, we realized that Cryptrader has actually used their own trading software and that too is a disaster. The trading platform is messy and sloppy. It is basically a flaw in the name of a web trading software.
Conclusion: Is it a Scam or Legit?
In order to up, all that has been said above, we can safely say that Cryptrader is a complete scam. We request our traders not to trade or invest with this scam broker. If you have been scammed by Cryptrader, report now and get an instant solution for fund recovery!