Unavailable Official Website
Since the official website of Crypto FX is currently inaccessible, we were only able to piece together a general picture of this company as a forex broker by gathering pertinent information from other websites
Is Crypto FX safe to trade with?
Crypto FX is a dubious and unregulated broker with many information on essential matters such as its operation country, regulation, security of funds not disclosed, so, it is obviously a scam that traders should stay away from.
General Information
Crypto FX is an online forex and CFD broker registered in Saint Vincent and the Grenadines, an offshore place. Crypto FX says it offers its clients more than 300 trading instruments through the MT5 trading platform, leverage up to 1:500, minimum deposit as low as $100.
Market Instruments
With Crypto FX, traders can get access to a series of trading instruments, including forex currency pairs, commodities, precious metals, and more.
Leverage
The maximum leverage is up to 1:500. Since offshore brokers have no restriction on leverage, they love to use high trading leverage to attract new investors. Leverage indeed allows traders to have the chance to make a fortune on the forex markets, however, it can also cause to heavy fund losses, especially to inexperienced traders.
Spreads
After test its demo account, we found that the spread on the EUR/USD pair is fixed at 2 pips, which is higher than the industry standard.
Trading Platform
When it comes to trading platform available, Crypto FX says it offers the industry-recognized MT5 trading platform. The platform features excellent charting tools, numerous indicators and trading bots. However, given the fact that this broker is not subject to any regulation anyway, you should still stay away from it.