WikiFX Review: What You Should Know About Cryptofxtrade

Are you still worried about the reliability of the broker when you invest？WikiFX can help you!!! Today WikiFX is going to talk about Cryptofxtrade and find out if this broker is reliable.

About Cryptofxtrade

Cryptofxtrade claimed to be one of the leading platforms in the United States offering binary options, Forex and spreads. Cryptofxtrade also claims to be headquartered in New York, USA and regulated by the Commodity Futures Trading Commission (CFTC) and the Belize IFSC as well as the Cyprus Securities and Exchange Commission. Let's go to each of these regulators to verify whether Cryptofxtrade is telling the truth.

As we can learn from the CFTC's query results, Cryptofxtrade is registered with the Commodity Futures Trading Commission (CFTC) but is not a member of the National Futures Association (NFA). It is well known that NFA membership provides assurance to the investing public that all companies, if they do not follow the rules, the NFA will take disciplinary action against members. In other words, if Cryptofxtrade breaks the rules or violates financial laws, the NFA will not take any punitive action against it because it is not a member of the NFA. If something goes wrong, your investment will go down the drain.

Meanwhile, the Cyprus Securities and Exchange Commissions result is quite negative—there is no brokerage named Cryptofxtrade on the Cyprus Securities and Exchange Commission(Cysec).

Speaking of the Belize IFSC, it's an offshore regulator, the absolute favorite location for scam brokers. So being under the supervision of Belize IFSC is not persuasive at all, not to mention there's no information about Cryptofxtrade here.

Cryptofxtrade has the limit on minimum deposit. The so-called “start plan” requires a minimum deposit of $3,500 to start the account, with an effective ROI of $12,778. This is ridiculous! Only a scammer can guarantee a high rate of return, because it uses an unrealistic ROI to lure clients to invest their money, , and in the end, you cannot withdraw the money for any reason.

Cryptofxtrade does not have trading software. The website doesnt even mention this basic forex trading tool, and in the dashboard WikiFX only sees simple charts with current asset prices that have no trading functionality. A professional platform always allows investors to download and test before deposit, the whole network not only cannot find any link to the trading platform download, but also cannot be targeted for investment testing.

Now let's search “Cryptofxtrade” on WikiFX APP to find out more about this broker. WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 36,000 global forex brokers. WikiFX gives you a huge advantage while seeking the best forex brokers.

As you can see, based on information given on WikiFX（https://www.wikifx.com/en/dealer/2003281810.html）, Cryptofxtrade has no valid regulatory license and the score is rather negative - only 1.06/10! WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

In a word, it's not wise to invest Cryptofxtrade. We recommend avoiding brokerage firms like Cryptofxtrade and choosing a legitimate brokerage instead. WikiFX reminds you that forex scam is everywhere, you'd better check the broker's information and user reviews on WikiFX before investing. You can also expose forex scams on WikiFX. WikiFX will do everything in its power to help you and expose scams, warn others not to be scammed. In addition, scam victims are advised to seek help directly from the local police or a lawyer.

WikiFX keeps track of developments, providing instant updates on individual traders and helping investors avoid unscrupulous brokers. If you want to know whether a broker is safe or not, be sure to open WikiFXs official website (https://www.WikiFX.com/en) or download the WikiFX APP through this link (https://www.wikifx.com/en/download.html) to evaluate the safety and reliability of this broker!