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Here’s our candid Cryptonify.com review that exposes why Cryptonify is a crypto scam investment platform. Those who have invested with the platform are ruing the decision. The platform is blocking withdrawals to all members.
After signing up and depositing funds, the platform decided to block withdrawals. But unfortunately, these are tactics seen by most exit scams. So we have to expose the platform and end its scam ways. Learn more in our exclusive CRYPTONIFY REVIEW.
NOTE: If you want to invest in cryptocurrency and don’t know where to start, here’s how. You need to invest in proven and tested crypto investments. Go for investments that guarantee safety for all members.
No about us page can give us more about the platform. The platform claims to be both a crypto and forex trading platform. There are a few accounts that cater to both. However, most clients don’t know that the broker will take over your account.
At some point, the broker will insist on introducing ‘an expert’ to help with your trading. Even without your consent, you will find your account balance rising. Thinking it’s a good thing, the broker will insist you deposit more funds to get a large profit margin.
Woe unto those who fall for such antics. The moment you deposit, the so-called ‘expert’ disappears. You don’t get access to your account and later find your balance reading zero. That’s the story from nearly all members.
Despite all these, some newbies continue to sign up. The broker targets naïve crypto investors who don’t know about investing. These investors need to read this cryptonify.com review for the truth.
Instead of introducing members to world-class trading terminals, traders get a custom-built platform. It’s unstable and lacks the necessary tools to advance your trading skills. The platform is also to blame for slow execution speeds.
Regarding trading, experts recommend using MT4 or MT5 trading terminals. These are platforms held dear by the trading world. You get reliable charting tools and technical analysis tools that help you become a better trader.
With these two platforms, you also get up-to-date trading signals. In addition, the trader can use robots to help place trades on your behalf. Security is another feature that allows these two platforms to get high ratings.
From what we have seen, the platform will make traders incur losses. It’s not compatible with the most mobile OS. Compatibility is crucial as it helps traders on the move be active when alerts come in.
Cryptonify.com offers three trading accounts to choose from. These include Zero, Standard, and Pro accounts. Each of these accounts targets a different demographic of investors and traders. Here’s a closer look at each of these accounts;
The broker claims this is the most popular option among novice traders. You start with a minimum deposit of $100, which is considered fair. Leverage starts at 1:20, and the broker promises deposit insurance.
The standard account holder has a minimum acceptable deposit of $1,000. The broker claims this tier provides maximum comfort to traders. Leverage is set at 1:50 with members using an instant execution style of trading.
According to the broker, this tariff is ideal for professionals. The minimum you can deposit to start trading with this account is $10,000. Leverage starts at 1:100, with members using crypto and metal assets for trading.
From what we have seen from the features, the setup seems ideal for all types of investors. In addition, the broker does use maximum acceptable leverage for trading. The only problem we have with the broker is limiting the assets.
Trading instruments are, at times, limited to newbies and skilled traders. Only professional traders who deposit a large amount get to spread their risks. And that, to us, is taking advantage of naïve investors.
There’s also the issue of available and type of spreads available with these trading instruments. Is the broker offering fixed or variable spreads? The broker must be clear of the spreads available for trading on each tier.
Another issue we have is the false claim of offering 24/7 personal support. After signing up, you don’t get any support from the platform. One can easily see the platform fails to have any live chat.
There are two classes of trading instruments available on the platform. These are commodities and Cryptocurrencies. The commodity available for trading include metals such as Gold, Palladium, Platinum, and Silver.
We don’t have a specific number of available crypto assets on the platform. However, we believe the broker offers major cryptos for trading. These include Bitcoin, Dash, Ethereum, and Litecoin. The broker pairs these coins against each other.
The Cryptonify broker is not getting any praise from the crypto and forex trading communities. If you quickly search the broker, you only find negative reviews. And these are reviews written by independent websites.
Something’s amiss with the broker. It all starts with how the broker started blocking withdrawals. Word spread of the broker’s malpractice, and reviews warned investors from signing up.
From what we can see, the broker is not having an easy day in the office. The broker is lowly rated, thanks to the withdrawal issue facing members. We also rate the broker a 1/10 due to blocking funds from members.
As a trader, you have the right to access funds at your will. No broker should try and block withdrawals. Instead, we see a broker attempting to delete member accounts to defraud them.
As we indicated earlier, don’t expect any support from the broker. The broker fails to even offer a live chat tab for members. Even with the member dashboard, the broker fails to provide much in terms of chatting.
And that’s why we must expose the store for failing to offer much in terms of creativity. These are platforms that don’t provide much to investors. As a result, you will likely lose your funds and get no help from the broker.
At the footer of the homepage, Cryptonify.com claims regulation from two bodies. The Cyprus Securities and Exchange Commission and the Financial Service Commission. We checked with the two, and they don’t have a broker licensed under these two names.
And that’s where we draw the line regarding trading with brokers. You have to trade with a licensed broker who adheres to and follows set guidelines. These brokers are not in any way getting much help from investors.
Before investing in any platform, check with your local regulator. Try and find out if the broker gets a license from them. Some reliable regulators include ASIC, BaFIN, CNMV, CONSOB, and the FCA.
You must do thorough research before engaging with such brokers. Get to read reviews from independent websites. Join crypto and forex trading forums and ask questions regarding the broker in question.
For now, please stay away from the broker.
NB: Here’s where you need to invest in the crypto world.
Do leave a comment or email us with any queries.
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