FXCryptoClub is an offshore based FX and CFDs broker that offers three trading accounts. The web-based platform provided by this broker is Activ8. The official website is professionally crafted and can mislead many traders. It will be very beneficial to traders if they will read our FXCrptoClub review before investing. The review will provide you with unbiased and detailed analysis of the broker. Read the full FXCryptoClub review here.
The trading platform provided by FXCryptoClub is none other than Activ8. It is one of the promising trading platforms featuring advanced Expert Advice, Auto-Trading Bots and World Class Market Analysis. The leverages offered by this broker is generous and is at the level of 1:400. However, such higher leverages must be handled carefully, or it will cause massive damage to traders. For the safety of the trader’s fund, many regulated markets have restricted such high leverages. The CapCrop LTD, situated in the Marshall Islands, is the owner of FXCryptoClub. The Marshall Islands-based brokers are unregulated. Most of them are involved in scams. Such brokers are unauthorized to provide their services in regulated markets like USA, UK and more. Austrian local financial regulator, FMA has issued a potential scam warning against FXCryptoClub. Furthermore, the trading terms of this broker are not transparent. Apart from the leverage ratio and initial deposit, this broker fails to display any other information. Such opaque information is always a sign of a scam. It is every trader’s right to know all the information about the broker and its offerings. While checking out provided Activ8 trading platform, we came across the spread of 3 pips on EUR/USD FX pair. The offered spread is higher than the market average. It also increases the cost of trading. The initial investment requires to open a basic account is $500, and it is quite high. Many reputed and regulated brokers provide a trading facility from $5. Also, $50 and $25 are charged on bank wire withdrawal and card withdrawals respectively. Also, there is a minimum withdrawal limit of $250 and $100 on bank wire withdrawals and card withdrawals. Furthermore, if the trader fails trade minimum of 200 lots, 10% charge is applied to each withdrawal. No trader will like such unacceptable terms and conditions.
Is FXCryptoClub scam or legit?
The broker is offshore-based and unregulated. Furthermore, FMA has issued a potential scam warning against it. The initial investment, leverage and spreads are high. Also, Withdrawal terms and conditions are unacceptable. The broker FXCryptoClub is an excellent example of a potential cryptocurrency scam broker. Avoiding it will be beneficial.