FXcryptoclub.cc Review: Is FX Crypto Club a Scam? - Topedgefx.com

FXcryptoclub.cc Review: Is FX Crypto Club a Scam?

FXcryptoclub.cc is a broker that offers a wide range of trading instruments such as Forex, Stocks, Commodities, Shares, Precious metals and Cryptocurrencies.

FX Crypto Club offers 3 different types of trading accounts including education materials such as videos, eBooks, Glossary and news.

Traders can use their in-house web trading or mobile trading platform to access the markets. FX Crypto Club is also leveraging on trader education to attract many clients.

They claim that experienced traders are able to help less experienced ones through their platform.

In addition to this, FXCryptoClub wants traders to know that their team is made up of experienced technical analysts and traders with at least 2 decades of experience.

FXcryptoclub.cc lists their address as Milton Group Ltd Ajeltake Road,Ajeltake Island,Majuro Republic of Marshall Islands MH 96960.

It is run by Milton Group Ltd, whose company’s registration number is 93114. However, FXCryptoclub.cc is not licensed by any regulatory authority.

It is important to know this fact as brokers who operate without a license have been known to mishandle their clients or even steal their funds.

In this FXcryptoclub.cc review, we’ll discuss the most important things related to this broker’s services as well as provide our overall verdict on the same.

FXcryptoclub.cc review

Although they are unlicensed (which is not a good thing), FX Crypto Club clients will enjoy a wide variety of trading instruments in addition to trading education which is delivered in form of classes and events.

The website’s design is quite impressive and welcoming. They believe that FXCryptoClub.cc is offering the best trading platform and technology due to the expertise of the people who run the company.

They also want traders to know that FX Crypto club has over 300,000 customers who are spread across 100+ countries in the world.

It’s hard to verify this info when we don’t have data from their marketing department. Also, this site was launched in March of 2019 according to who.is.

It is not possible for FX Crypto Club broker to acquire over 300,000 clients within such a short time span. Moreover, it’s easy to confirm this by looking at their popularity.

Nevertheless, there’s a page that claims this broker has been in existence for more than 10 years in the stock market.

The site isn’t as popular as you’d expect. Brokers who have these client numbers often garner a lot of ratings and public feedback from major trading sites and forums.

FX Crypto Club review: account types

(a) Micro account

The minimum deposit for this account is $500. In addition to this, they offer a deposit bonus, 24/5 customer support, access to education center, daily market review, pro webinars and price alerts.

In addition to this, Micro account offers expert intro sessions to all traders signing up for Micro account.

(b) Standard account

The minimum deposit for this account is $5,000. It offers all the features of a micro account in addition to a private session and strategic analysis.

(c)Premium account

The minimum deposit for this FX Crypto Club broker account is $50,000. This account provides all the features of a micro and standard account.

In addition to this, traders can get access to exclusive positions.

FX Crypto Club does not disclose their spreads to clients. Most reliable brokers have this information displayed on the homepage.

fxcryptoclub account types

Trading platform of FXCryptoClub.cc

They’re offering a trading platform known as Activ8 platform. They claim that this trading platform is best in terms of execution, adaptability, and speed.

This means that traders wanting to use MT4 or cTrader will be greatly disappointed.

Also, since this is a brand new trading platform which appear to be an in-house platform developed by this broker, most traders will find navigation difficult unless they familiarize with the platform.

Activ8 is available on Desktop and Mobile platforms respectively.

Fees associated with trading with this broker

Withdrawals are charged a transaction fee. Wire transfers attract a transaction fee of 50.00 USD/GBP/EURO.

Credit card payments attract a processing fee of  25.00 USD/GBP/EURO. ePayments attract 10.00 USD/7.00 EUR/5.00 GBP; 25.00 USD/GBP/EURO.

In addition to this, there’s a levy of 10% that is charged on withdrawals from accounts that have not executed at lest 200 in turnover.

Wire transfer withdrawal minimums is 250.00 USD/GBP/EURO while the minimum for other methods is 100.00 USD/GBP/EURO.

Keep in mind that whether you’re withdrawing $250 or more, the standard wire transfer charge of $50 will still apply.

Overall, this makes FXCryptoClub.cc one of the most expensive brokers to trade with in terms of the amounts they charge for transactions.

Withdrawal duration is between 4-7 days which again make them the slowest broker when it comes to withdrawal processing time.

Conclusion

FXCryptoClub might be a legit or a scam broker (like BTC Tradings) for that matter.

There are of course some positives to consider when trading with this broker. The variety of trading instruments offered by this broker will be welcomed by any enthusiastic trader wanting to experiment with any asset.

The trader education offered by Fx Crypto Club broker is also something worth considering.

So far, these are the only advantages. The negatives include high fees, lack of a trading license from a major financial regulator, high minimum deposits, high minimum withdrawal threshold, foreign trading platform which majority of traders are not used to among others.

If these cons are just too much for you, don’t ever consider trading with FX Crypto Club as you’ll be disappointed.

Also, lack of online reviews is a major concern. We expected this broker to be popular since they claim to work with many clients but this is not the case.

If you have something to add to this FX Crypto Club review, please drop your comments below.

Thank you for reading FXCryptoClub.cc review.

One Response

  1. Dorino January 10, 2020

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