The name of the offshore-based broker CryptoMusu will confuse many traders. The broker here is not a cryptocurrency exchange that allows to buy and hold cryptos. Instead, it provides Contract for Differences on many cryptocurrencies. A standard trading account is provided with limited information about trading conditions. From the official website, it can be drawn that the initial deposit of CryptoMusu is $250. The broker under consideration is not regulated, and this CryptoMusu review, we will talk about other pros and cons of this broker. We request you to read it word by word for better understanding.
The company called Agatha Limited, situated in the Commonwealth of Dominica, manages and owns the brand name CryptoMusu. The Commonwealth of Dominica is categorised as one of the scam broker hot-spot in the world. The brokers operating from this country are mostly involved in the scams. Furthermore, the brokers operational from Commonwealth of Dominica are not regulated by any regulators. The unregulated brokers pose a high risk of scams. Therefore, it is mandatory to do a fact-check of any broker’s regulations for the safety of traders investments. The broker CryptoMusu also involved in a controversial practice of provision of trading Bonuses. The bonuses offered comes with many additional withdrawal terms and conditions. Some of them are required trading volume before eligible for the withdrawals. The broker mentions this in its terms and conditions section but refuses to share exact trading volume required to be qualified for withdrawals, and it is a disturbing thing. Furthermore, the broker does not share trading conditions on its official website, and it is a fact of worry. No legitimate trader will keep its client in the dark. Also, the most popular E-Wallet Skrill is absent as a payment method. This fact lets us think that the broker is a scam as Skrill has recently adopted a new anti-scam policy for the benefit of its users. Also, most trusted MetaTrader Trading Platform is not supported by CryptoMusu. The provided web trading platform lacks many advanced features available on MetaTrader. It will turn many traders away from this broker.
Is CryptoMusu scam or legit?
CryptoMusu is an unregulated, unlicensed, offshore-based crypto CFDs provider. The trading conditions are absent on the official website. Commonwealth of Dominica based nature raises scam suspicion. E-Wallet Skrill is also absent and MetaTrader not provided. In our view, the CryptoMusu is another ordinary brokerage provider and is a potential cryptocurrency scam broker. This broker must be avoided at any cost.