CryptoIFX, an internet broker operating in the UK, is a notorious criminal.Julius Conley 29 / April / 22 Visitors: 57
If we go to the official website of CryptoIFX - Cryptoifx.org, we will find that this company offers brokerage services for Forex trading in Britain. In addition, CryptoIFX offers software for financial actions.
We looked at the CryptoIFX website, got acquainted with the terms of action, tried to get at least test access to the services, analyzed the existence of official documents, the place of registration of the company.
With the help of this information, we will find out: Is CryptoIFX a scam or not?
We will also tell you how not to fall into the network of criminals, about their methods of action. We will give you all the necessary data in order to keep your investments safe.
CryptoIFX firm based in offshore region
A serious call, saying that CryptoIFX are scammers - the country of registration. According to the documents, the organization is registered in the Republic of the Marshall Islands, which is already suspicious, since it operates on the territory of Britain. Offshore regions attract the attention of scammers due to the absence of the need to comply with the law and supervision.
In addition, this state does not have the rights to operate in the Forex financial market.
Also, when our experts tried to find the address, data about the owners and directors of CryptoIFX, they could not find anything.
This already hints that Cryptoifx.org is an illegal broker, cooperation with which can result in serious financial losses.
No information about directors of Cryptoifx.org found
After researching the website, our experts have not been able to find reliable information about the leadership of the Cryptoifx.org organization. No legal address, no phone numbers or other methods to get in touch.
We think that this means that the acting directors are trying to hide their identity in order to elude accountability for their actions. And even if you manage to contact one of the CryptoIFX employees, this will all end, and the actual directors of the shadow organization will remain at large with money.
CryptoIFX, website - Cryptoifx.org, is less than a month old
The website Cryptoifx.org talks about the significant experience of operations in the Forex market.
The most common way to check any website is to obtain information about its domain name. Usually, they contain the validity period of the domain name, information for contacting its owner.
In our case, the CryptoIFX domain name works for less than 30 days, and information about the legal entity that owns it is classified. Another evidence that the owners of CryptoIFX are trying to preserve anonymity.
This desire can be accepted, but not when it comes to a company working as an intermediary between a trader and the Forex financial market.
At the same time, CryptoIFX assure clients that they have been successfully trading Forex for many years.
Cryptoifx.org does not have a trial period
It is a common practice for online brokers to give traders a test version of the services so that they can familiarize themselves with the interface, try their hand at Forex operations with fake money.
Unfortunately, on the official website of Cryptoifx.org, we could not find data on the test period, the ability to try out the software.
Most likely, the director of the CryptoIFX organization simply does not plan to give clients trial access to paid software, since one of them is able to begin to suspect something is wrong.
Internet broker CryptoIFX operates with a negative account
Legal companies that work on Forex do not use a negative account in their activities. By law, a broker's trader cannot spend more than what is currently on his account. In rare cases, when the balance goes negative, the loan must be repaid not by the client, but by the company that provided the services.
Therefore, registered brokers do not apply a negative balance in their activities.
And yet, Cryptoifx.org gives its traders trading with a negative balance, that is, on credit.
Why is this needed?
In order to drive the trader into debt and start extorting to pay off the debt. This is one of the most common scam methods used by scammers.
In the event that this happened, it must be remembered that deceivers have no way to recover money under UK law. Absolutely all methods of influencing traders are considered illegal. The maximum that bandits can do is call, send letters with demands.
You cannot cooperate with Cryptoifx.org, as any attempts to reach an agreement will result in new costs.
Cryptoifx.org operates with a credit ratio of 1 to 400 or more
At this point, it becomes obvious that CryptoIFX are criminals. And yet, let's pay attention to another fact, namely the existence of an extremely high leverage.
Leverage is the ratio of money from clients and online brokers when making a deal. Leverage makes it possible to make large trading transactions for traders who do not have large amounts of money with them.
In order to protect users of the Forex financial market, in developed regions, the current legislation provides for the use of a credit ratio with a maximum ratio of one to thirty, in exceptional cases fifty.
At the same time, CryptoIFX applies a leverage of 1 to 400 for trading on the Forex market.
This ratio is allowed in Switzerland, since firms registered in this country enjoy great confidence. But CryptoIFX is not registered in this country.
In fact, CryptoIFX is not allowed to conduct Forex transactions with such leverage, due to the high risk for clients. Actually, this is done to force the user to give away more personal funds, but also to drive him into debt.
CryptoIFX Local Offices
It is considered important for every company to have regional offices in developed countries, even if the activity takes place exclusively in England. Therefore, CryptoIFX reports that in addition to many awards, there are regional offices in the UK, Australia and other civilized countries, as well as a large number of qualified employees.
Checking the presence of these branches is very simple. Since there are specialized structures that control the activities of online brokers. In the UK it's FCA, in Australia it's ASIC.
Accordingly, a legal company must have official papers from these or other structures that will confirm their right to provide services for trading operations on the Forex market, indicate the degree of responsibility.
And yet, having studied the industry's official websites, our experts did not find them. Which once again confirms our suspicions.
Registration on Cryptoifx.org requires the transfer of confidential data
As we mentioned earlier, CryptoIFX does not have a demo period, and therefore, in order to gain access, you must immediately transfer the minimum deposit to CryptoIFX scammers. Also, getting access to the Cryptoifx.org personal account is really possible only when the user is verified.
This means that CryptoIFX requires users to provide information such as:
- Information about an individual (passport, etc.);
- Data on the permanent place of residence (payments for a communal apartment);
- Information about qualifications, length of service, place of work.
In addition, with the first payment, scammers are able to access personal account data.
Together, this information can enable scammers to issue a loan to the user, or implement other shady frauds.
Since you need to transfer confidential data to register on the official website of Cryptoifx.org, our employees have not been able to get access to the CryptoIFX personal account and services for working on the Forex market.
Real reviews about CryptoIFX
The most important point of exposing CryptoIFX is the analysis of traders' reviews.
Analysis of the issue in search engines gave the following information:
- Most of the reviews and mentions of CryptoIFX on the Internet are fake. These are positive reviews similar to each other and mentions of a paid character;
- All truthful mentions and comments about CryptoIFX are bad. Our staff was unable to identify credible testimonials and references from former Cryptoifx.org clients that would mention a big profit, a successful operation.
- Bad reviews and mentions are caused by criminal acts, theft of funds, creation of debt.
Because of this, real reviews of CryptoIFX suggest that the online broker in question is a scam.
Contact information and official documents CryptoIFX
After analyzing the information on Cryptoifx.org, our staff saw a lot of dubious digital white papers that can be easily done with a graphics editor. They are not confirmed by official firms, which means they cannot be trusted.
If an Internet broker is not associated with regulatory organizations, then its clients simply have nowhere to turn for help.
On the "Contacts" page, our specialists found a phone number. It turned out that it had already been used by an illegal online broker. There are also many reviews on the net about fraudulent activities associated with the phone number listed on Cryptoifx.org.
Withdrawing money from Cryptoifx.org
Are you going to make money with the help of the Forex financial market online broker? Make sure you can take money from him.
After analyzing the user agreement on the official website of CryptoIFX, we did not find any information available on the methods of withdrawing earnings. At the same time, our employees saw a mention of punishments for a long period of inactivity of a personal account, but did not find information about their size. Since the bandits do not work in a legal field, it will not be possible to challenge these fines.
That is, if a trader has completed work with CryptoIFX, they can call him and write letters demanding to pay a fine.
How does CryptoIFX work?
The way to search for new users that CryptoIFX uses is also alarming.
For promotion, false profiles on social networks are used, in which non-existent bloggers spread information about how they instantly managed to earn income by working on Forex through CryptoIFX. Advertising profiles expose expensive cars and houses, vacations in resorts and other signs of a prosperous life.
They guarantee instant profit growth, for which you do not need to learn or make efforts.
If a user comes into contact with scammers, CryptoIFX managers talk about the possibility of a quick profit, and in addition about some unique abilities of their programs that will allow you to quickly earn a solid income.
After that, various tricks go into work, allowing you to get the maximum finance from the user. For example, a user may be given a small profit in order to motivate them to transfer even more money.
When the work on the Forex financial market is negative, the personal manager will recommend investing more in order to cover the debt.
CryptoIFX managers work according to the methods developed by professional manipulators. Criminals analyze information about the client in order to influence vulnerabilities, pull out more investments.
As a result, everything will come to one of two options:
- When you decide to withdraw funds before you are in the red, you will be fined, prohibited from using the assets, and will do everything to force you to pay even more;
- When you let the criminals drive the account into the red, threats will fall, the criminals will demand the return of the fake loan.
Another way to make money for CryptoIFX can be the transfer of your personal information to third parties. Most likely, as a result, information about you can be purchased for a modest amount on an anonymous community on the shadow Internet.
Most likely, because of this, various bandits, managers, etc. will begin to call you more often. You can also expect letters from CryptoIFX accomplices who will offer a “return” of lost money, of course, for a reward.
Since CryptoIFX does not operate in an official field and preserves incognito, CryptoIFX cannot be forced to be liable under the law in the UK. The leaders of the fraudulent organization diligently disguise themselves and, at best, law enforcement agencies will be able to arrest one of the “employees”.
Should I trust CryptoIFX?
If you plan to transfer money to criminals, then it is better to transfer them to a good cause.
In short, we will voice the facts saying that CryptoIFX are criminals:
- Lack of official registration;
- No demo period;
- There is no information about the owners of the organization;
- Phone number found in criminal transactions;
- Negative score;
- Leverage greater than 1 to 50;
- Bad reviews;
- False information on the site.
Detailed review of CryptoIFX - finished. Clearly, CryptoIFX are bandits.