Cryptos888 Review Is Cryptos888.com A Legit Broker

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Cryptos888 Review: Is Cryptos888.com A Legit Broker?

Cryptos888.com Review: this is the website of a brokerage offering digital trading assets. Is Cryptos888 a legit broker or a scam? Cryptocurrency trading market is exciting and this makes it a target for many investors, however, some con artists are seeking to exploit this space to defraud traders. Read this review to find out more.

The most vital part of our reviews is the uncovering of if a company or Forex broker is properly licensed or not. To do this, we first establish the location or region where it claims to be based. Then we check with the commission or authority regulating trade there whether it is listed among regulated companies or not.

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On the website, the address provided for the location of Cryptos888 in London, United Kingdom. The company claims to be part of GC Exchange Limited, a firm said to be registered and licensed by the Financial Conduct Authority (FCA). When we checked, GC Exchange Limited is actually licensed but has nothing to do with Cryptos888.

The find above means that Cryptos888 is an illegal company using the information of a legit entity to deceive traders. This is not all, we also have another major reason of concern that will be disclosed later.

Advantages of Cryptos888

It claims to be a firm offering a full-featured spot trading platform for major digital assets. The main target of this broker is traders investing in digital assets. They claim that their service is 99.9% available, time-proven to be financially stable, and 0% user funds theft.

It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

They claim that they have a worldwide reach in terms of service provision. Registration in the UK (under the FCA) is mentioned as part of their advantages.

Cryptos888 Trading Platform

We are not told what the trading platform used by Cryptos888 is. However, we advise readers and traders to always look out for the MT4 or MT5 platforms. The MetaTrader platforms are commonly used because they allow the use of trading robots.

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Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating systems. All can be used on desktops, Linus, Windows, iOS, and Android.

Tools that come with these trading platforms are also found to be useful for traders. It has proven to be user-friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders are not listed except many cryptocurrencies like Bitcoin, Ethereum, Litecoin, Ripple, and so on. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

The maximum leverage offered to clients is withheld and while some may seem generous, they are not advisable. High leverages can lead to huge loss of funds as well. Spreads are not stated.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on Cryptos888

The means that traders are to use to make deposits and withdrawals are VISA, MasterCard, cryptocurrency, and Bank transfer. There are no e-wallets options allowed for clients of this broker.

This is because standard and legit brokers make deposits and withdrawals available via Visa, MasterCard, and Wire Transfer. Many offer e-wallets like Skrill, Neteller, UnionPay, FasaPay, and so on.

The minimum deposit required is $60 and this is within the obtainable average of $100 to $250 that is common among legit brokers. Withdrawal fees are not mentioned and this may be because they do not apply. However, we will appreciate it if this is stated.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is Cryptos888 Licensed?

No. Cryptos888 is not a properly licensed broker. Trading with a Forex broker that is unlicensed poses many dangers to traders’ funds. Misappropriated funds may not be recoverable by the government as well.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Blacklisted by the FCA

We found that the Financial Conduct Authority has put out a warning about Cryptos888. The commission disclosed that this firm is illegally parading the registration details of GC Exchange Limited as its own.

Support

To contact the broker or a representative of the customer care service, dial: +44 161 394 1778 or email: [email protected]

Conclusion

Our major concern about Cryptos888 is the fact that it is not properly licensed and that it is blacklisted by a respected Forex trading authority. Most of the trading details are not disclosed. If you have anything to say about this broker, do so in the comment section.

COMPARE WITH A TRUSTED BROKER

Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices, and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

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