Secrets, lies, threats and theft, or How CryptMarket works
Have you heard of “the world’s largest cryptocurrency investment group”? No? Then get acquainted: this is how CryptMarket calls itself – one little-known office that pretends to be a broker. Do you want to know what’s wrong with her, besides self-importance? Read on. It will be terribly interesting.
What to trade
Who knows! “How?” – you ask. – Didn’t the broker, who specializes in cryptocurrency, bother to tell you what list of assets a trader can handle? And there is. You will not have information about the names of the instruments. Even about what they are – cryptocurrency pairs or CFDs.
But in the reviews of CryptMarket, two more unknowns were pointed out. Namely, the evidence that you will actually trade and the way the orders are executed. It is possible that your positions will not even enter the market.
Are the trading conditions good
Unclear. Only one thing is known: “CryptMarket” takes a commission of 0.85%. Apparently, he decided that he had already told too much. Therefore, I kept silent about spreads, swaps and the cost of transactions for depositing an account.
What about the leverage? Complete silence. The funny thing is that without this it is impossible to assess the risks. Add to all the above a miserable trading platform and you will understand: you cannot cook porridge with our hero.
What a review about CryptMarket without discussing registration information. After all, she is not. The broker does not disclose its license number and does not indicate the regulatory body that controls its activities. And he is also silent about the date of creation.
All that we managed to find out is the age of the cryptmarket.io site. It turns out that he is not even a year old. Then how did the broker manage to become “the largest cryptocurrency investment group”? No way. He just lied.
Trade from under the stick
The overwhelming majority of reviews about CryptMarket are negative. The stories told by traders make your hair stand on end. Because this broker is not shy about dirty tricks. Here is some of them.
Bonus $ 12000
Who gets it? Everyone who replenished with $ 250 or more. How to work with him? Now that’s interesting. Under the terms of CryptMarket, you first need to trade with a bonus, and then with your own. Many go into negative territory. But even if they succeed, they get another bonus, already $ 50,000. And so every time. Because of this, they cannot even withdraw their own money.
Those who managed to stay in positive territory are not allowed to take profit. First, the broker fills them with deliberately unprofitable deals. If they are abandoned, he will begin to threaten to nullify all trade. If it does not help, it will block the account.
Everyone who has replenished with a small amount is regularly called and offered to take a loan from the bank. Ostensibly to play for high stakes and earn more. They even send questionnaires. Some give up, take out a loan and transfer it to their account. Of course, they can’t make money. And you have to pay with the bank yourself.
One of the traders wrote a review about CryptMarket, where he told how his account “went down” with the help of a “super profitable” deal that the analyst suggested. And then they demanded to return the debt and threatened with problems.
If you find yourself in this situation, keep calm. Filter everything they tell you. You have contacted scammers who are themselves outlaws. Their claims have no legal effect.
I can’t see the money
All withdrawal requests from cryptmarket.io either “hang” without processing, or are canceled. Analysts of this broker do not hesitate to log into client accounts in order to close deals with their own hands. That is, there can be no question of any confidentiality.
This is how CryptMarket works, judging by the reviews. But the fraudulent nature of this broker is confirmed by the facts:
Questionable trading conditions.
Hiding information about yourself.
Poor site quality.
Lack of service details.
This is quite enough to run from him like from fire.