Cryptoiam is operated under the domain name cryptoiam.com that was registered anonymously in 2017. The broker claims to be based in Switzerland and provides crypto exchange and trading facility. The target market of this broker is the Europian Union and the United Kingdom. Unfortunately, the broker is unregulated. In this Cryptoiam review, we will provide a detailed overview of this broker. Make sure to read it correctly.
Cryptoiam is one of the shady brokers that operate from Israel. The domain cryptoiam is hosted on the UK based IP address, and Kamatera INC owns the domain. The contact number shared on the official website is Switzerland based, but our research shows that the broker uses a VOIP system to look legit. The broker also uses telephone and social media marketing to attract their clients. The broker is not registered under any financial regulator from the EU, nor the UK’s Financial Conduct Authority has its registration. The website has minimal information about accounts provided, leverages, spreads or required initial investment. The trading platform offered by Cryptoiam is developed and managed by the third party called Finantik. The Finantik is associated with many scam brokers. It also fakes trading conditions to dupe traders. The broker claims to offer trading of all cryptocurrencies against USDT. The broker is also associated with red-flagged broker called MCIINVESTMENTS. Also, the withdrawal fees are charged between $30 to $3500. Being a cryptocurrency trader, the Cryptoiam does not have any crypto-wallet to store cryptocurrencies. Also, many traders are accusing this broker of scam and not allowing their funds to withdraw.
Is Cryptoiam scam or legit?
The broker is situated offshore, and the owner of it is anonymous. Also, the Cryptoiam is not regulated and does not hold a valid license to provide its brokerage services in regulated markets. Furthermore, the broker is associated with many fraud brokers and companies. The trading platform offered from the third party and is a fact of worry. It also uses fake telephone numbers to mislead its clients. Trading conditions are missing from the website. The broker also applies hefty charges on withdrawals. All of the above condition makes Cryptoiam a potential cryptocurrency scam broker. Traders funds, as well as critical data, is at risk with this broker. Traders could not recover any money from this broker if invested. We urge our readers to maintain possible distance from Cryptoiam.