The offshore broker CryptopMarket is very new in the trading market. It provides services of forex, CFDs, and crypto brokerages. The broker was founded in 2018 in Estonia but the customer service number provided belong to some UK location. The single trading account is offered by this broker. Also, there is another place mentioned in the contact section of the official website. In this CryptopMarket review, we will provide you with all the authentic facts about this broker and its operations. It will provide very crucial information on whether to invest in CryptopMarkets broker or not. Read the full Cryptopmarkets review here.
The trading platform provided by CryptopMarkets to its traders is TraderSoft. Sadly, many traders like to trade on the MetaTrader trading platform, and this might be a negative point scorer for this broker. Above thirty exotic FX pairs are included in the product portfolio of CryptopMarkets. It also offers CFDs on precious metals, natural resources, and Agri products. Furthermore, crypto coins like Bitcoin, Ripples, Ethereum and many more are also provided over CFDs. Besides, many indexes and shares are also offered. The binary options feature like SimplifiedFX is also included. The minimum investment of $250 is required to open an account. The required investment is according to the recent market trend. The leverage of 1:200 is available and considered moderate to the current market condition. Still, many brokers offer lower leverages to protect their clients from the fund loss. The provided spreads of 3 pips are present on the Euro-Dollar FX pair. The most concerning fact about this broker is its regulation. The CryptopMarkets is unregulated and does not have the proper license to operate in the regulated markets. Also, the local financial regulatory body of the UK red-flagged CryptopMarkets in 2020. The information presented on the broker’s official website is misleading—the charges on withdrawals and transactions are also hidden.
Is CryptopMarkets scam or legit?
The broker CryptopMarkets is offshore-based forex and CFDs provider on many assets. The trading condition looks descent. The leverage of 1: 200 is acceptable to many brokers, and spreads of 3 pips increase the cost of trading immensely. Importantly, the broker is unregulated and does not hold a valid license. From where it operates is not known. The red-flagged status from financial authority is a fact to worry. At the end of this review, we are convinced that the CryptopMarkets is a potential cryptocurrency scam broker. To make your investment risk free staying away from this broker is advised.