Scam Brokers

Cryptosworld.trade Review: Another Scam Broker?

Cryptosworld.trade is claiming to be a legitimate broker offering trading in 16,000 different markets.

But Cryptos World is not a trustworthy broker as their website makes promises and statements which cannot be verified.

It would be risky including them in this list of recommended investing resources given that their website is totally dishonest in their marketing.

Apart from the usual marketing mumbo jumbo where they purport to be the best broker, Cryptosworld.trade is also lying about their regulatory standing with the CySEC.

Cryptosworld.trade also claims that they are fully regulated across Europe, Middle East and Asia.

The regulatory bodies in question have not been mentioned, and neither does Cryptosworld.trade talk about their licensing details.

Other than this, Cryptos World Trade claims to be a multi-award winner with 25 years of experience.

But according to who.is, the domain Cryptosworld.trade is very new. It was established in November 2020.

The reason for lying is that this broker wants to create an impression of experience and trust yet this is very far from the truth.

Cryptosworld.trade review: Don’t fall for these statements

Like most brokers out there, Cryptos World Trade is also making marketing declarations that are only meant to lure victims to sign up.

The following promises are being made on their website:

1.Lowest trading commission

2.30ms execution speed

3.ETR AI Robot is provided which can scam over 1 million trading strategies to match one’s trading profile

4.Platform used by 14,000 customers worldwide

When they combined an attractively designed website with these marketing declarations, some people will fall for their trick by signing up and actually transferring money to them.

I’ve also searched the entire Cryptos World Trade website but didn’t see any signs of an MT4 or demo account for newbies.

They instead have the following account types with zero details to help us make an informed decision:

1.Basic… 50 Euros

2.Professional …. 1,000 Euros

3. Premium …. 5,000 Euros

4. Superb…. 25,000 Euros

5. Deluxe…. 50,000 Euros

6. VIP… 250,000 Euros

The only thing that Cryptosworld.trade says about their account types is that some are created for newbies while those with high deposit requirements are meant for experienced traders.

No information about spreads and spreads, thus we cannot determine the cost of trading with this broker.

Cryptosworld.trade’s review: the regulatory front

They claim to be regulated by the CYSEC through a company called MAXIFLEX LTD. CySEC has listed down 3 approved domains of this brand.

These include europefx.com (defunct), .europecapitalgroup.com (defunct) and europestocks.com (in coming soon status).

But there is no Cryptosworld.trade in this portfolio. What is more disturbing is that MAXIFLEX LTD has 2 of their approved domains in defunct.

This is not something we can take positively because shady companies have been known to scam people and disappear, leaving their websites’ domains to expire.

This could certainly be the case in this situation since we don’t see any other reason why those websites are now defunct.

In other words, Cryptos World trade regulatory status is not clear. They should probably stop misleading traders by lying to them that they are well-regulated.

Why you should not open a trading account with this broker

The obvious reason as to why you shouldn’t sign up with this broker is that they are not regulated.

Secondly, they’re luring investors by promising to provide them with an automated trading robot that “scans” thousands of trading strategies.

We have not been told what these strategies look like or what the performance numbers are.

In short, Cryptos World is not providing us with details that we need to make a decision. We have a feeling that this broker will cheat you instead of helping you make money.

Their alleged 25 years of existence is a lie. There is no proof that Cryptos World has existed for 25 years. All evidence suggests that their website is very new.

If they can lie about the small but crucial things, they will definitely not be honest when your money is in their custody.

Conclusion

Cryptos World is a scam just like ibg.finance, mylive trading and many other websites that require some sort of upfront money to get started.

They don’t even have a practice account. Instead, they require 50 euros to “practice” trading with them. This is absolutely ridiculous.

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