Crypto Commerce Review is Crypto-commerce.club a Scam or Should I Invest

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Contents

Crypto Commerce Review: is Crypto-commerce.club a Scam or Should I Invest?

Crypto Commerce Review: Scam or Paying? CryptoCommerce claims it could make you good profits from cryptocurrency mining. How true is this? You may have come across many systems on the internet promising you quick fortunes, the truth is that majority of them turn out to be scams. In this review of Crypto-commerce.club, we provide you information based on our investigations and user experiences to help guide you make the proper decision.

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Crypto-commerce.club Scam Review: Disturbing Things Found

Most of this scam quick-profit investment schemes are HYIPs. What is a HYIP? It is a just a type of ponzi scheme. Initial investors only get paid when new people sign up and invest, what this means is that you are under pressure to bring in new investors so that you will get paid. As soon as the amount of new investor drops, the owners do away with the money invested, and the site is closed down since there is no longer enough money to pay initial investors. Those that benefit most times are the first investors. The system is not sustainable because it will surely shut down abruptly leaving your money trapped in the hands of the scammers that set it up initially.

Most of them provide a registration certificate and so-called evidence of payments. Don’t be deceived, anybody could get a sham address and certificate most especially from the Company House in UK which most of them use, for just £5. These companies claiming to be located in the UK or similar countries are not in actual sense located there.

Crypto Commerce is not a legit cryptocurrency investment platform. Don’t be deceived by their promises.

Conclusion

Everyday we get complaints of people been scammed. Most people fall for these schemes because of the sweet promises of making huge profits within a short time. On a serious note, legit systems exists but scams are very very numerous. So you need a guide to help you make a good decision. We have made it our duty, by exposing scams.

CRYPTO SFS – A Scam or a Safe Investment?

Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.

CRYPTO SFS – DO NOT TRADE WITH THIS PROVIDER

The broker’s full name is Crypto Smart Financial Services (CRYPTO SFS) and is based in Estonia. There is also a phone number listed as well as an email address.

CRYPTO SFS seems to offer just one type of trading account as far as we can make out. It is the standard trading account and has a minimum deposit requirement of $500. It offers a maximum leverage of 1:100 and its spread is a very high 3 pips.

Try these regulated brokers if you want to start trading cryptocurrencies

Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.

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Founded: 2020

Regulations: Unregulated

Languages: English, German, Spanish, French

Deposit Methods: Credit/Debit Card, Bank Wire, Cryptocurrencies (Bitcoin, Ethereum, Ripple), EntroPay, UPayCard

Minimum Deposit: $500

Free Demo Account: No

Number of Assets: N/A

Types of Assets: Forex, CFDs in stocks, indices, commodities, and cryptocurrencies.

Trading Accounts and Conditions

The broker’s full name is Crypto Smart Financial Services (CRYPTO SFS) and is based in Estonia. There is also a phone number listed as well as an email address.

CRYPTO SFS seems to offer just one type of trading account as far as we can make out. It is the standard trading account and has a minimum deposit requirement of $500. It offers a maximum leverage of 1:100 and its spread is a very high 3 pips.

Despite looking through the entire website, we were unable to find clear cut terms and conditions listed, which of course raised red flags for us.

CRYPTO SFS – Advantages

Here are the few advantages or pluses we find that CRYPTO SFS has:

Range of Tradeable Assets Available for Clients

The best thing about CRYPTO SFS is the range of tradeable assets on offer. This allows investors to really diversify their portfolios. The broker offers Forex trading, as well as CFDs (Contracts for Difference) in indices, stocks, commodities, and a range of cryptocurrencies.

Decent Trading Platform

While it may not be at the level of the MetaTrader 4 trading platform, CRYPTO SFS’s trading platform is well-designed and quite easy to use. It has a simple interface but also offers numerous charting options, technical analysis market indicators as well as various time frames for trading.

Solid Leverage

CRYPTO SFS offers a leverage of 1:100 on currency pairs, and a leverage of 1:25 for BTC (Bitcoin) trading. These are very good ratios as they will suit almost all types of trading strategies.

CRYPTO SFS – Disadvantages

Despite having a strong trading platform, a wide range of tradeable assets and solid leverage levels, there are too many other things that are serious causes for concern with regard to this trader’s operations:

Lack of Licenses and Regulation

According to the broker’s website, CRYPTO SFS is owned as well as operated by a company called Smart Financial Services Ltd. The broker’s website shows the address as registered in Estonia.

All CFD providers in Estonia are required to be registered with the financial watchdog of the country – the Finantsinspektsioon (Estonian Financial Supervision Authority).

However, when we checked with the EFSA, there was no record of a company by this name or even a broker by this name registered with the government agency.

This leads us to conclude that this brokerage is not regulated or licensed to operate.

Plus500

Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.

AvaTrade

The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.

  • Regulatory Warning Against CRYPTO SFS

Not only is the broker not regulated – which is a massive red flag to stay away from it – CRYPTO SFS has been added to the list of potential cryptocurrency scammers by the Belgian FSMA (Financial Services and Markets Authority).

Here is the screenshot of the warning posted by the Belgian financial agency:

Services and Trading Conditions Not Clearly Defined

CRYPTO SFS has not laid out clear-cut terms of service and trade. There are no reference spreads, no clear leverage ratios available, details about transfer fees and so on.

So, this means that if you open an account for CRYPTO SFS, you will know absolutely nothing and can be scammed easily by the broker.

Because of the lack of clarity, there are many who have mistaken this broker as a cryptocurrency broker rather than a Forex broker, which is a clear sign that you should not invest on this broker’s platform.

No Demo Account

There is no demo account available on CRYPTO SFS. This means that you cannot test the waters, assess the spreads and trading conditions before you begin investing real money on this platform.

Therefore, if you want to know if the trading platform, leverage and spreads are favorable, you need to create a live account and invest money to do so.

This is a tactic that is frequently used by scam brokers. So, another red flag.

Lack of MetaTrader 4 Trading Platform

As we already know, CRYPTO SFS uses its own web-based trading platform. While it is decent, it cannot compare to the MT4 trading platform, whose ease of use and numerous functionalities have made it a universal favorite with all traders.

Very High Spreads

The EURUSD currency pair, which is the benchmark in Forex trading, has a spread of 3.0 pips. This is twice as high as the market average, which means that you stand to lose a lot of money if you trade on this platform.

Withdrawal Policy

The minimum amount allowed for withdrawal using bank wire transfer is £300, and the minimum amount allowed for withdrawal using a credit card is £50. There is also a £20 withdrawal fee, which goes up to 1% of the total amount being withdrawn if you do a bank wire transfer.

To Sum Up Our Impression of CRYPTO SFS

Here is the summary of our checks into CRYPTO SFS – the pros and the cons of the broker.

Conclusion

Any broker that has a regulatory warning against it for possible scamming is one to be avoided like the plague. While Crypto SFS has a few things in its favor – a wide range of trading instruments, a decent trading platform, and a very balanced leverage level – there are too many things that are clear warnings that this broker is not to be trusted with your money.

There are the issues of the lack of regulation, vague terms and conditions, a lack of a demo account, and very high spread that make us conclude that this is not a broker that you should trust with your money. It is most probably a scam.

Articles by Dave

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