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Do You Want to Know If Cryptics Is Legitimate or a Scam Broker?
Cryptics is cryptic when it comes to revealing who they are. If you invest thousands, don’t you want to know who you are dealing with? Of course! However, Cryptics presumably doesn’t think this is important. There are no names behind Cryptics, but only a UK phone number. Also, they have no license. For this reason, the CNMV and FSMA have regulated Cryptics as a suspected scam broker.
There Are Some Problems with Cryptics
Getting placed on the blacklist by regulators is very telling. We certainly wouldn’t trade with any broker that was blacklisted by regulators or didn’t have a license. In addition, Cryptics has a ridiculously high minimum deposit of $500. Yet it claims to offer pips as low as 0.1. This is certainly strange and we suspect they probably tack on more charges. For example, their inactivity fee claims 10% of the total amount in the client account! This is absurd and we’d stay away from Cryptics.
Red Flags that Cryptics Could Be a Scam Broker
- False claims about licensing
- Fake guarantees
- No transparency
- Denies withdrawals
- Bad reviews
If You Need Fund Recovery from Cryptics, Talk to Us
We create these reviews to warn consumers about brokers and schemes that may be fraudulent. If you have an account with this broker, close it and request a withdrawal. If you are not given your money back, contact Broker Complaint Registry right away. We will consult with you, work to track down your funds and create investigative reports, and will assist with fund recovery efforts.