Do You Want to Know If CryptoSpotFX Is Legitimate or a Scam?
CryptoSpotFX has been flagged by the FCA for false claims about its license. CryptoSpotFX claims to be an “award-winning forex and binary options broker” but it shows no evidence of these awards. In addition to misleading UK clients, it also says it is licensed in Australia and Cyprus but does not hold the relevant license. It doesn’t seem like a good idea to trust CryptoSpotFX about anything it says.
There Are Some Problems with CryptoSpotFX
Although CryptoSpotFX does offer MetaTrader 4 and 5, so do other brokers who don’t have CryptoSpotFx’s spotty record on false claims. It also has a hazardously high leverage at 1:1,000. Using its leverage as a selling point can endanger clients and encourage them to rake up huge losses. Also, according to complaints, it claims to accept many payment methods, but in actuality, only accepts cryptocurrency.
Red Flags that CryptoSpotFX Could Be a Scam
- False claims of licensing
- Flagged by the FCA
- Dangerously high leverage
- Negative reviews
If You Need Fund Recovery from CryptoSpotFX, Talk to Us
We create these reviews to warn consumers about brokers and schemes that may be fraudulent. If you have an account with CryptoSpotFX, 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.
