217
General Information
Broker Name: FxCryptoClub
Broker Type: forex
Country: Marshall Islands
Operating since year: N/A
Regulation: N/A
Address: Ajetake island, MH96960
Broker status: Unregulated
Customer Service
Phone: +442080893079
Email: [email protected]
Languages: English
Availability: 24/7
Trading
Trading platforms: N/A
Trading platform Time zone: N/A
Demo account: yes
Mobile trading: yes
Web-based trading: yes
Bonuses: N/A
Other trading instruments: N/A
Account
Minimum deposit ($): $250
Maximal leverage: 1:400
Spread: N/A
Scalping allowed: N/A

FxCryptoClub Review: a legit forex scam

 

The possibility of a scam looms over almost every trade in Forex. Especially if you are dealing with an unregulated broker company.   FxCryptoClub is one of them.

FxCryptoClub is an offshore forex and CFD broker

 

Its website looks very professional. Thus it has full potential to mislead many traders. We have some significant concerns regarding FxCryptoClub, which will be highlighted below.

FxCryptoClub Red Flags

 

FxCryptoClub Regulation: An offshore broker

Through the website of the brokerage, we discovered that the company behind it is registered under the name CapCorp Ltd. Moreover, it is governed by the laws of the Marshall Islands. We want to remind our traders that the Marshall Islands are an offshore zone.

FxCryptoClub Regulation Unfortunately,  due to its very liberal laws regarding the registering of companies, the Marshall Islands has become a top-destination for would-be scammers. FXCryptoClub, irrespective of its legitimacy, do not fall under any regulatory oversight whatsoever.

Generally speaking, forex and CFD brokers incorporated in such offshore zones are not regulated and are not to be trusted. In fact, most companies that choose to register on such sunny islands do that to cut legal corners and run investment scams.

Also, the broker was backlisted by the official Australian Financial Regulator FMA.

Nonexistent Trading Conditions

The required minimum deposit is double the standard of $250, which is relatively high, but there is supposedly a wide range of trading options. Furthermore, the leverage extended to traders is quite generous at 1:400, but the spread of 3 pips on EUR/USD is just about what we would consider favorable.

Also, the broker has only shared with the public the initial deposits required for each of the account types offered. Thus, potential clients of the broker are unaware of the spreads they’ll get, the leverage ratios, etc.

MetaTrader platform is unavailable

 

We always view the lack of the standard MetaTrader 4 trading platform as highly suspicious and very malicious. While Activ8 can be regarded as a substantial choice of a platform, the MT4 is the industry’s leader. Also, most of the traders prefer it. Meta Trader offers numerous features and options, with excellent charting and useful analysis tools.

 

FXCryptoCLub deposit and withdrawal methods

we stumbled upon worrisome provisions of the broker’s Deposit and Withdrawal policy documents uploaded on the website. It appears that FxCryptoClub charges pretty substantial withdrawal fees.

FXCryptoCLub deposit and withdrawal methods It appears that FxCryptoClub charges huge withdrawal fees, and also has set a relatively high minimum withdrawal amount. What is worse, there is a dormant account fee of 10 percent each month, as well as a withdrawal fee, minimum withdrawal amount, and a turnover requirement. 50.00 USD/GBP/EURO for wire transfers; 25 USD/EURO/GBP for credit cards plus a processing fee of 25.00 USD /EURO/GBP for ePayments.

Those clients who have not traded at least 200 lots will be charged an additional 10% of the withdrawal amount. This is unfavorable to traders, as it means undertaking additional risk.

Trading with an unregulated brokerage is quite risky, and this is why we always advise traders to put up only the required minimum deposit, instead of risking a more massive amount with no certainty. Afterward, they may also try to withdraw a small amount to check for any unexpected fees or delays. Such costs and delays are usually the signs of a scammer.

 

 

FxCryptoClub Review: Conclusion

 

FxCryptoClub is a typical offshore broker, waiting to steal your money and likely a total scam.

The broker is registered offshore; all of its activities are not transparent and trustworthy. The rules and details of the offers that the company makes are hidden from the trader. The Austrian financial regulator has blacklisted the broker.

As always, we recommend that you only deal with licensed forex brokers.

Here is a summary on all you need to know about forex broker FxCryptoClub:

  • An offshore broker
  • Not enough info on trading terms
  • MT4 unavailable
  • high spreads and initial deposit
  • Weird and confusing withdrawal fees and requirements
  • Blacklisted by Austrian FMA

Don’t put all your eggs in one basket.  Open trading accounts with at least two brokers. Do your own research and trust your guts.

FxCryptoClub Logo
  • Support
  • Platform
  • Spread
  • Trading Instrument
Comments Rating 1 (217 reviews)


You might also like

217 Comments

  1. Alice Corran December 2, 2022
  2. Grace Farrar November 29, 2022
  3. Owen Johann November 25, 2022
  4. Owen Townley November 22, 2022
  5. Isla Vale November 18, 2022
  6. Nicholas Bellew November 11, 2022
  7. Lola Lukis November 4, 2022
  8. Stephanie Mauldon November 1, 2022
  9. Toby Rankin October 28, 2022
  10. Nate Medworth October 25, 2022
  11. Hugo Girdlestone October 21, 2022
  12. Phoebe Lazarev October 18, 2022
  13. Hudson Couvreur October 14, 2022
  14. Madison Lockyer October 11, 2022
  15. Alana Thornton October 7, 2022
  16. Madeleine Gallard October 4, 2022
  17. Ellie Reinhold September 30, 2022
  18. Kate Gellatly September 27, 2022
  19. Ellie Bosisto September 23, 2022
  20. David Hervey September 20, 2022
  21. Skye Madden September 16, 2022
  22. Audrey Freeling September 13, 2022
  23. Nate Camm September 6, 2022
  24. Katie Smart August 30, 2022
  25. Liam Gourgaud August 26, 2022
  26. Archer Freedman August 23, 2022
  27. Leo Souter August 19, 2022
  28. Anna Nina August 16, 2022
  29. Lauren Trefl August 12, 2022
  30. Angelina Siddins August 9, 2022
  31. Elizabeth Horner August 5, 2022
  32. Aiden Milligan August 2, 2022
  33. Emma Rosman July 29, 2022
  34. Taylah Vicars July 26, 2022
  35. Aiden Plante July 22, 2022
  36. Tyson Driver July 19, 2022
  37. Hudson Grice July 15, 2022
  38. Ashley Messenger July 12, 2022
  39. Christian Hopkins July 8, 2022
  40. Alicia Burges June 30, 2022
  41. Amelie Morell June 28, 2022
  42. Angus Stiles June 21, 2022
  43. Brodie Slade June 17, 2022
  44. Charles Grahame June 14, 2022
  45. Tyson Van Otterloo May 24, 2022
  46. Claudia Rule May 20, 2022
  47. Max Felan May 17, 2022
  48. Jamie Harrison May 13, 2022
  49. Indiana Alfred May 10, 2022
  50. Justin Buggy May 6, 2022
  51. Ebony Raws May 3, 2022
  52. Alexander Lewin April 29, 2022
  53. Sean Peters April 26, 2022
  54. Abbey Cuthbert April 22, 2022
  55. Dylan Mickey April 19, 2022
  56. Mariam Edmonds April 12, 2022
  57. Lucas Wynter April 8, 2022
  58. Mackenzie Brumby April 5, 2022
  59. Paige Colebatch April 1, 2022
  60. Nicholas Tulloch March 29, 2022
  61. Jasmine Gullett March 25, 2022
  62. Joel Verge March 22, 2022
  63. Brock Considen March 18, 2022
  64. Aaron Dennys March 15, 2022
  65. Christopher Lyng March 11, 2022
  66. Dylan Vigano March 8, 2022
  67. Archer Mate March 4, 2022
  68. Rory Tuck March 1, 2022
  69. Leah Macandie February 25, 2022
  70. Mason McLerie February 22, 2022
  71. Hamish Dransfield February 18, 2022
  72. Holly Wren February 15, 2022
  73. Elijah Corkill February 11, 2022
  74. Alexander De Hamel February 8, 2022
  75. Taylah Speckman February 4, 2022
  76. Sebastian Holder February 1, 2022
  77. Georgia Simson January 28, 2022
  78. Tyson Hickson January 25, 2022
  79. Lucas Tier January 21, 2022
  80. Christian Rosenstengel January 18, 2022
  81. Mario Kaestner January 14, 2022
  82. Mary Rydge January 11, 2022
  83. Layla Stewart January 7, 2022
  84. Taj Rudall January 4, 2022
  85. Peter Pokrovsky December 31, 2021
  86. Hunter Coppleson December 28, 2021
  87. Aaron Dowse December 21, 2021
  88. Erik Theiss December 14, 2021
  89. Lucinda Scanlan December 10, 2021
  90. Toby Mackay December 7, 2021
  91. Katie Murnin December 3, 2021
  92. Sophie Ligertwood November 30, 2021
  93. Lily Fiveash November 29, 2021
  94. Seth Winspear November 23, 2021
  95. Savannah Wilfred November 19, 2021
  96. Audrey Davenport November 12, 2021
  97. Ben Klein November 9, 2021
  98. Sergey Frolov November 5, 2021
  99. Jaroslav Krylov November 3, 2021
  100. Rory Hennings October 29, 2021
  101. Alica Stonham October 26, 2021
  102. Mia Nielsen October 22, 2021
  103. Stephanie Halford October 19, 2021
  104. Alana Emma October 15, 2021
  105. Nate Ebden October 8, 2021
  106. Isabella Koltsova October 5, 2021
  107. Lola Caird September 28, 2021
  108. Jamie Gowrie September 24, 2021
  109. Patrick Kaiser September 21, 2021
  110. Stephanie Urner September 14, 2021
  111. Paul Braun September 10, 2021
  112. Tim Trommler September 7, 2021
  113. Laura Bavister September 3, 2021
  114. Brigitte Bumgarner August 31, 2021
  115. Alicia O'Flynn August 27, 2021
  116. Harrison Fincham August 24, 2021
  117. Victor Aupry August 20, 2021
  118. Ute Faerber August 18, 2021
  119. Eden Mahomet August 13, 2021
  120. Swen Faber August 10, 2021
  121. Anatoly Korovin August 3, 2021
  122. Sam Septimus July 30, 2021
  123. Mandy Kuefer July 27, 2021
  124. Emmanuel Vinogradoff July 23, 2021
  125. Ali Macalister July 20, 2021
  126. Ninette Sarrazin July 16, 2021
  127. Gabriele Zimmer July 13, 2021
  128. Demi Salois July 6, 2021
  129. Caitlin Timperley July 2, 2021
  130. Nahum Golubov June 29, 2021
  131. Lachlan Bean June 25, 2021
  132. Max Fassbinder June 22, 2021
  133. Yolanda Kulikova June 18, 2021
  134. Hope Larionova June 17, 2021
  135. Sabrina Meyer June 15, 2021
  136. Kaitlyn Rimmer June 11, 2021
  137. Martin Schreiber June 10, 2021
  138. Mackenzie Birdwood June 4, 2021
  139. Gabrielle Latham May 28, 2021
  140. Jessica Cassell May 28, 2021
  141. Simone Hofmann May 21, 2021
  142. Erin Wood May 18, 2021
  143. Tanja Theiss May 14, 2021
  144. Lucas Kuester May 11, 2021
  145. Maximilian Brandt May 7, 2021
  146. Anastasia Kovaleva May 4, 2021
  147. Nina Kapustina April 30, 2021
  148. Hedvige Beauchemin April 27, 2021
  149. Robert Baer April 23, 2021
  150. Edward Kharlamov April 20, 2021
  151. Zane Bedggood April 16, 2021
  152. Bulat Alekseyeva April 13, 2021
  153. Tom Adler April 9, 2021
  154. Jens Baader April 6, 2021
  155. Anne Himmel April 1, 2021
  156. Uta Nadel March 30, 2021
  157. Lucas March 29, 2021
  158. Susanne Reinhardt March 26, 2021
  159. Stephanie Moench March 23, 2021
  160. Martine Loiselle March 19, 2021
  161. Ryder Morgans March 16, 2021
  162. Sebastian Gerste March 12, 2021
  163. Tigran Abramovich March 9, 2021
  164. Sergey Demidov March 5, 2021
  165. Delit Couture March 2, 2021
  166. Franziska Beich February 23, 2021
  167. Philipp Blau February 19, 2021
  168. Victor Matveyev February 16, 2021
  169. Evelyn Castro Azevedo February 12, 2021
  170. Pénélope Lebel February 9, 2021
  171. Camilla Kazakova February 5, 2021
  172. Huon Carignan February 2, 2021
  173. Julian Voigt January 29, 2021
  174. Royale Cadieux January 26, 2021
  175. Felix Bergmann January 22, 2021
  176. Hope Abakumova January 19, 2021
  177. Alexandra Becker January 15, 2021
  178. Mary Dodery January 12, 2021
  179. Paul Frey January 8, 2021
  180. Max Jerrems January 5, 2021
  181. Jasmine Sargent December 30, 2020
  182. Lubomir Seleznev December 23, 2020
  183. Doreen Zweig December 22, 2020
  184. Céline Reault December 18, 2020
  185. Lilith Alexeeva December 15, 2020
  186. Jana Hahn December 11, 2020
  187. Vladimir Glazkov December 8, 2020
  188. Adam Pennefather December 4, 2020
  189. Lea Hirsch December 1, 2020
  190. Natalia Shubina November 27, 2020
  191. Sabine Wurfel November 24, 2020
  192. Lara Best November 20, 2020
  193. Ulrich Schreiner November 17, 2020
  194. Leon Foerster November 13, 2020
  195. Nicole Eichel November 10, 2020
  196. James Keogh November 6, 2020
  197. Steffen Krueger November 3, 2020
  198. Jessika Beyer October 30, 2020
  199. Sara Farber October 27, 2020
  200. March Yashina October 23, 2020
  201. Matilda Bromilow October 20, 2020
  202. Nathan Jorgensen October 16, 2020
  203. Gemma Brumby October 13, 2020
  204. Florian Freeh October 9, 2020
  205. Cameron Keenan October 6, 2020