A broker by the name of Expert Crypto FX Option Ltd claims to be skilled in managing cryptocurrency trading. Many individuals now provide comparable services, but how many of them are reliable? Expert CryptoFX Option Ltd seems to be another crypto hoax, which is unfortunate. One explanation is that the FCA, or Financial Conduct Authority, has flagged the broker.
Is Expert CryptoFX Option a Licensed Broker?
Additionally, Expert CryptoFx Option asserts that its headquarters are in New York, which is obviously untrue given that all American brokers are required to hold valid forex licenses issued by the U.S. Commodity Futures Trading Commission (CFTC). As we’ve already stated, Expert CryptoFx Option is nothing more than a scam website.
Why Should Not You Trust an Unlicensed Broker?
You run the risk of losing all of your money if you fall for a scam to open an account and fund it with an unlicensed broker, not because you made poor trading decisions, but rather because you won’t be able to withdraw even a single penny.
Such organizations are often managed by con artists and seem to be almost completely anonymous. Since they are well hidden behind fictitious offshore companies, you have no chance of finding the real owners of an offshore broker and taking them to court. To cut a long tale short, if your broker does not have a valid license from a recognized regulating body, you are almost probably going to become a victim of fraud.
Is Expert CryptoFX Option Can Be Trusted?
No, this platform should be trusted. We have already seen that they have no license. Also, they have a warning from FCA, the chief financial regulatory organization in the UK. So, why should think that this platform should be trusted?
Warnings From Financial Regulators
The Financial Conduct Authority (FCA), the primary financial regulatory institution in the UK, has identified Expert CryptoFX Option as an inappropriate broker.
What Do Traders Think Of Expert CryptoFX Option?
Doing extensive research on the businesses and organizations to whom you want to transfer money is the first thing you should do to protect yourself from dishonest individuals or organizations operating online. It is quite likely that there have been other customers who have previously utilized the same service and who have shared their thoughts and comments on it on the internet in a variety of different places.
After completing some research on a variety of social media sites as well as online trading communities, a common thread developed in which people were unhappy with the services provided by Expert CryptoFx Option.
Platform Offered by Expert CryptoFX Option
ExpertCryptoFxOption doesn’t really provide trading software. This trading program isn’t really sophisticated; it’s just a TradingView chart with a few buttons on it. Such a thing hardly qualifies as trading software; you may be able to place an order with it, but you wouldn’t be able to do very much else.
Instead, we suggest that you look for a broker that provides a more complete platform like MetaTrader 4 or MetaTrader 5 – all of these editions of the program have all the tools and features you could possibly need.
Country Serving by Expert CryptoFX Option
This company is operating in the UK and USA. But we also get some other complaints from Australia and Cyprus too.
Expert CryptoFX Option Range of Trading Markets
Talking about trading concepts like spreads and leverage is entirely useless since ExpertCryptoFxOption does not provide a usable trading platform. In any case, the broker hasn’t disclosed any information about those issues or the fees it charges. We were merely told that in order to create an account, we needed to deposit at least $300, which is, quite frankly, too much. These days, many trustworthy brokers offer accounts for $100 or less; for as little as $10, you could easily sign up with one of the best brokers in the business.
Minimum Deposit and Withdrawal Terms of Expert CryptoFX Option
The minimum deposit amount is $300 which is quite expensive and obviously for a scam website.
Ways to Make a Deposit
There is a good reason why ExpertCryptoFxOption prefers to accept deposits made in bitcoins. To begin with, when paying with cryptocurrencies, it is impossible to know with certainty to whom the bitcoin wallet you are sending money actually belongs.
Victim of Expert CryptoFX Option Scam? Report Your Story To Us.
If you think you get scammed by ExpertCryptoFXOption, submit a report to us. We will check your case, and then we will provide you with a free consultation on how to get your money back.
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