Is Crypto FX Time a scam or a good broker?
The most dangerous element of CryptoFX Time is its clean website, which appeared to us to be a legitimate source of money if one had the expertise and luck. But, after further investigation, we discovered that CryptoFX Time is a typical scammer, save for the effort put into the website design. In other words, don’t be fooled by the website’s design; instead, pay attention to the specifics highlighted in the following review, as they indicate the genuine nature and purpose of cryptofxtime.com.
We opened an account in no time, highlighting the broker’s greed and desire to scam anyone. We accessed a common suspicious user dashboard, and the web trader spoke in a similar tone. There, we learn that the broker is a cryptocurrency-only organization with no other products. None of the leverage was exposed.
Is Crypto FX Time legitimate?
The simple answer is no. CryptoFX Time does not have a financial services license and does not bother to reveal any ownership information to the public. Stay away from these con artists and pick a legitimate transaction partner instead. Scammers employ a few methods that combine to form a large plan that has not altered since its start, making it very simple to avoid.
How Do The Scammers at Crypto FX Time Work?
The fraud begins when the broker contacts the user, who has previously naively provided his or her contact information through some seemingly innocent method.
Communication with the broker may appear to be a pleasurable experience while the other party sweet talks its way into your cash. Most frauds target non-trading audiences because they are more vulnerable to this type of linguistic manipulation. Otherwise, customers may begin receiving emails touting extraordinary, wonderful investment opportunities, none of which are truly profitable.
The first deposit, which scammers are eager to sell, is the tipping point. The user has fallen into the hands of the fraudster following this initial investment. Either he will be urged to invest more by false promises of additional “profit,” or the client will want their initial deposit returned, to which he will be told that additional investments are required. Regardless of whose side of the coin you are on, she will almost certainly never be able to withdraw. All withdrawal requests will be denied for a variety of equally implausible reasons.
Is My Fund Safe With Crypto FX Time?
Undoubtedly, the broker is a SCAM. Otherwise, why would they keep important facts about themselves hidden? Furthermore, we discovered that CryptoFX Time charges some really high and strange fees. To put it another way, we strongly urge you to avoid CryptoFX Time.
Because the broker is unlicensed and nameless, your funds will be at risk. Such entities tend to vanish fast, leaving their patrons with losses that are nearly impossible to recover. In fact, most such brokers blatantly scam their consumers, so be careful!
CryptoFX Time Regulations and Fund Safety:
We were able to uncover one item of information that could help fill this section with meaningful information: a claim that the broker is regulated by the New York State Department of Financial Services.
It may be easy to disregard this statement because it appears to be true, but even the most inexperienced trader can quickly discover that in the United States, regardless of state, all FX and CFD brokers are regulated by the CFTC and NFA.
The New York State Department of Financial Services exists, but it has no authority over brokers. Furthermore, cryptofxtime.com is not licensed in the United States and will never be!
As evidenced by the lack of additional regulatory or registration information, CryptoFX Time is anonymous. It is also unregulated and poses a procedure risk to everyone!
Always try to invest with regulated brokers rather than unlicensed ones. It may be difficult to tell them apart, but there is a way to make the procedure lot easier. The most important thing to do is verify the broker’s claims about their regulation or registration status.
If nothing is there, you close the site and move on to any European, United Kingdom, United States, Australian broker, or any other with legal standing. Being regulated entails more than just being permitted to provide FX trading services. It comes with a multitude of responsibilities, most of which are associated with how the broker serves its customers. Misconduct on the part of the broker leads to either financial penalties or the complete shutdown of the brokerage website in question.
What Are The Methods Of Deposit And Withdrawal?
We did some research and found that investors can choose from 26 distinct cryptocurrency wallets. This is overdone, but that’s not even the worst part. This is because each wallet has a different minimum deposit. This is a new strategy employed by the broker to extract as much money as possible from the user. It compels the user to pay attention, further immersing him in the plan.
Later, we read about withdrawal costs, a provision that barely mentions them at all, and worst of all, no withdrawal charge values are provided. Without any additional context, we just know that these fees are applicable.
There is also a fee for “handling your requests to access your personal data,” which appears to be nothing more than a commission taken each time the broker enters your account. It allows CryptoFX Time to charge the user whenever it deems fit. Furthermore, the fees are not disclosed.
All withdrawal requests are completed within twenty-four hours, according to a FAQ for our readers. It is essential to keep in mind that the broker is a SCAM and poses a risk to everyone. Stay away from it!
What Should You Do If You Are Scammed By CryptoFX Time?
If you’ve been tricked, your best option is to file a chargeback. Contact your credit or debit card company first, and then proceed. It’s useful to note that MasterCard and VISA have a 540-day chargeback period.
It is more difficult to get money back from bank investments, but it is not impossible. Most banks have some form of policy for dealing with lost capital, so the client’s best option is to call their relevant bank and follow the bank’s plan of action from there. We also advise consumers to update their bank account username and password if they have been cheated.
Unfortunately, there are no genuine means to recover lost money from crypto investments through these channels. All crypto investments are untraceable, and it is impossible to predict where the investor’s money will end up. If you need help to get back your money from the scammers, send an email to firstname.lastname@example.org.
Don’t put your faith in recovery agents or agencies. These are either independent scammers searching for “service fees” from users, or extensions of illegal broker operations.
Final Thoughts On The Crypto FX Time Review:
The crypyofxtime.com review that we are now working on truly pleases us, and our ultimate goal is to spare as many individuals as possible from losing the money that they have worked so hard to earn. Before making any type of financial commitment, it is advisable to undertake extensive research on the Forex company of your choosing.
We hope you found our Crypto FX Time analysis to be useful. If you have any questions or need assistance with the withdrawal procedure, please do not hesitate to contact us at email@example.com.