CryptoFG (Cryptofg.com) is a cunning Crypto currency scam broker to hit the lucrative Forex world. Crypto FG is claiming to offer an advantage of digital currency that’s unmatched. According to their homepage, they claim that CRYPTOFG offers no inflation risk and has extra buying power. After receiving numerous email complaints from users who claim to be swindled, we decided to conduct an investigation. Here’s the real truth regarding this broker.
What we always ask newbie traders is to read reviews regarding any Forex broker. Reviews are meant to help newbies to have a feel of what to expect with a product or service. CryptoFG is simply a broker who wants to sign up as many people as they possibly can. Once they do this, they will close shop and not notify or warn users. This is why it’s imperative that you read this whole review to find out dirty tricks lines up.
Scammers know for a fact that we all want to make an extra buck or two. This is why they have created an eye-catching website that’s meant to entice any eye. Don’t let the homepage fool you, there’s more than meets the eye with CryptoFG. What scammers go for are claims and promises to ensure investors get hooked. With claims such as Crypto FG being a safe haven, no wonder so many people signed up.
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According to the disclaimer at the bottom of the homepage, CryptoFG is owned by Elit Property Vision LTD. Apparently, they are located in Sofia, Bulgaria and have 1574 as their address. Folks, we simply can’t buy what these scammers are telling us for one reason. They have failed to disclose the real names of people behind this platform. These scammers have done this for a reason, they want to remain anonymous.
Anonymity is a dangerous portrait to have especially if you are a Forex broker. To be brutally honest, we doubt that Sofia is their real address. Why have they failed to mention the CEO or CFO of their mother company? If we had names of these owners, it would have made verification easier. One way of making verifications is looking at social media accounts of these owners. There’s a reason they haven’t mentioned them, we are dealing with a scam.
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Folks, with their level of anonymity, we highly doubt that this broker has been licensed or regulated. They have failed to mention any regulatory body in their entire website. This only proves that we are dealing with a professional scam group. A real Crypto Currency broker would have posted their registry details for all to see. Where are their registry details? There are no registry details for one particular reason, they are a scam.
What this means is that we are dealing with an entity that has no authorization to conduct Forex business. Any third party that signs up with this broker will surely face a hard time with Crypto FG. An unauthorized broker can easily swindle money from investors and face no backlash. That’s why these scammers have made anonymity their closest ally. Folks, you now know better than to sign up with CRYPTOFG.
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These scammers have gone a step further in duping online investors with their demo account. What these scammers have done is rig the trial account in favor of users. They have offered users a virtual deposit of $500 to start with a trial account. What these scammers have done is ensure that users will make over 90% trade wins with demo account. They do this in the hope users will want to open a real account.
And this is where the trap is laid, users being enticed into signing up with a real account. This becomes a real problem because a real account warrants user to deposit real money. Once you open a real account, winning trades will plummet and you will lose all your deposit. These scammers have colluded with other brokers to share the spoils of your loses. And that’s another reason not to sign up with this broker.
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CryptoFG is offering users six different account types to choose from. These accounts include Basic, Trader, Pro Plus, VIP, Millionaire Club, and VIP Ultra. Basic account holders are required to make a minimum deposit of $5000 to start trading. This price tag is way too high considering the accepted required deposit of $250. Trader account holders are required to make a deposit of $10,000. Pro Plus $50,000, VIP $100,000, Millionaire club $500,000, VIP ultra $1.5M.
All these accounts come with the same perks such as learning centers with tutorials and basic videos. All users get news, market reviews, specialists’ opinions, and full customer support. Only basic account holders lack an account manager which is expected. Problem with these accounts is that they all have the same advantages. There’s no notable differences with any account making accounts similar.
Funds are never safe with CryptoFG since this is an anonymous broker. This will always be the case with any broker who is not licensed or regulated. To begin with, this broker lacks the necessary trading conditions that warrant a safe trading environment. Which bank do they use to deposit all member funds? Why have they failed to disclose their depository bank? This is one major issue we have with Crypto FG.
Did you know that users maybe depositing money straight to the owner’s personal bank account? Another disturbing issue with this broker is that they don’t segregate accounts. What this means is that they are pooling funds in one account which is a dangerous practice. What’s more, this broker does not participate in a compensatory scheme. This means that users will not be compensated in case of bankruptcy or insolvency.
This is one major flaw with this broker. They don’t have any live chat support which is quite unfortunate. What this means is that users are left on their own when they need help. How do they expect users to contact them? A real broker ensures that they are available to members all the time. This is a pointer that this broker wants to remain anonymous with no contact whatsoever.
Calling them does not help as the call is never answered. And this is clear proof that we are dealing with a professional scam group. As we earlier said, anonymity is a dangerous character to have as a broker. What this means is that money here can easily be stolen without warning. Least they would have done is have a bot service to answer a few queries.
Without a doubt, CryptoFG is a scam that is out to swindle unsuspecting online investors. This is what the evidence clearly shows. Best thing to do is ensure that you mark all their emails as Spam. Make sure you never click on any links sent by their email marketing team. Warn your friends and relatives from signing up with Crypto FG.
Only option left for us is to blacklist this crypto currency broker. All evidence shows that this is a scam that is ripping people off. Make sure to never sign up with this broker. At all times, stay safe when trading with any online investment platform.
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We wish you all the best in your online trading experience.
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