Crypto Adviser

Crypto Adviser is a UK-based financial broker established in 2022. It offers trading in Forex, Commodities, Stocks, Cryptocurrencies, and Indices through a web-based platform. The company provides four types of accounts, with a minimum deposit of $250 and a maximum leverage up to 1:500.

It's worth noting that this is an unregulated broker.

Pros and Cons

Is Crypto Adviser Legit?

No, Crypto Adviser is not a legitimate provider of financial services. The company claims to be registered in the United Kingdom, but no information about its registration was found with the United Kingdom's regulatory authority, the Financial Conduct Authority (FCA).

Even more seriously, the Italian Companies and Exchange Commission (CONSOB) has issued a public warning regarding Crypto Adviser's fraudulent activities, labeling the company as an unauthorized entity engaged in deceptive practices.

What Can I Trade on Crypto Adviser?

Crypto Adviser offers various trading choices, including Forex Pairs, Commodities, Stocks, Indices, and Cryptocurrencies, providing you with opportunities to diversify portfolios across multiple asset types, which may potentially reduce the risk of losses. However, since this broker is unregulated, it is not advisable to consider trading with them.

Account Type

Crypto Adviser offers a variety of account types to potential clients, including four options: StandardAccount, Silver Account, Gold Account, and Platinum Account. However, the minimum deposit requirements for each account type have not been disclosed. It only specifies that a minimum deposit of $250 is required if you wish to trade.

Leverage

Crypto Adviser offers flexible leverage up to 1:500, which further indicates that the company is not regulated by the UK authorities, who typically require legitimate brokers to limit leverage to 1:30. Such a high leverage may heightens the risk of substantial losses.

Spread

The spreads offered by Crypto Adviser are unusually high, reaching as much as 111 pips for major currency pairs such as EUR/USD, GBP/USD, and USD/JPY. This is not a practice employed by any legitimate brokerage firm, and such spreads lack competitiveness entirely. You are advised to choose a legitimate exchange that offers reasonable spreads instead.

Fees

When trading with Crypto Adviser, you will need to pay fees/commissions to business introducers, referring agents, or other third parties. The amount depends on factors such as frequency/volume of transactions and/or other parameters.

In addition, you will also be charged spread and swap fees, with the specific amounts undisclosed. If your account balance is insufficient to cover these fees, your positions will be closed.

Trading Platform

Crypto Adviser offers a rather basic web-based trading platform, failing to provide professional and advanced platforms like MetaTrader 4 or 5. Therefore, you are advised to seek out a reputable broker that offers a user-friendly trading environment, along with the opportunity to test strategies using a demo account.

Deposit and Withdrawal

Crypto Adviser supports a wide range of payment methods, including cryptocurrencies such as Bitcoin, wire transfers, and credit/debit cards (Visa and Mastercard).

The processing times vary depending on the method used. For instance, bank wire withdrawals may take up to 10 business days and incur a fee of at least $25.