The CryptoIFX online broker, which operates in England, is a scam with notoriety tainted.
If we go to the official website of CryptoIFX - Cryptoifx.org, we will read that our company offers intermediary services for working on the Forex financial market in the UK. CryptoIFX also provides trading software.
Our specialists looked through the CryptoIFX website, got acquainted with the working conditions, tried to get at least demo access to the programs, analyzed the existence of documents, the region where the company was registered.
With the help of the received data, we will find out: Is CryptoIFX a scam or not?
In addition, we will explain to you how not to fall into the trap of scammers, about their work algorithms. We will tell you the necessary data in order to keep your money safe.
CryptoIFX is located in an offshore region
A serious sign that Cryptoifx.org are criminals is the state of residence. According to the documents, the organization is registered in the Republic of the Marshall Islands, which is already suspicious, since the company operates in England. Offshore countries are popular with criminals due to the lack of laws and regulation.
In addition, this country does not have the authority to trade in the Forex market.
Also, when our specialists tried to find the legal address, information about the owners and management of Cryptoifx.org, they could not find anything.
This already hints that Cryptoifx.org is a criminal broker, cooperation with which can result in significant financial losses.
No information found about the organizers of CryptoIFX
Having examined the official website, we have not been able to find plausible information about the organizers of the CryptoIFX company. No physical address, no telephone or other means of contact.
Basically, this means that real directors try to hide themselves in order to hide themselves from being held accountable for their actions. If you manage to identify one of the employees of CryptoIFX, then everything will end there, and the directors of the shadow company will remain at large.
CryptoIFX, official website - CryptoIFX, is valid for less than thirty days
The website Cryptoifx.org talks about the extensive experience of operations in the Forex market.
The most common method of checking the official site is to obtain data about the domain. Most often, they indicate the age of the existence of the domain, the contact details of its owner.
In this case, the Cryptoifx.org domain name exists for less than 30 days, and all data about the person who owns it is classified. Another proof that the owners of CryptoIFX are trying to remain incognito.
This desire can be supported, but not when it comes to a financial company acting as an intermediary between the client and the Forex market.
In addition to this, CryptoIFX themselves assure potential users that they have been trading Forex effectively for many years.
Cryptoifx.org does not have a trial period
It is a common practice for brokers to provide users with a demo version of the services so that they get acquainted with the interface, try their hand at Forex operations with virtual money.
Unfortunately, on the Cryptoifx.org website, we did not find information about the trial period, the ability to test the software.
We assume that the owners of the CryptoIFX company most likely do not plan to provide customers with trial access to paid software, since one of them is able to suspect something is wrong.
Broker Cryptoifx.org operates with a negative score
Legal firms that operate in Forex do not use a negative account in their activities. According to the law, the user of an Internet broker is not able to spend more than what is currently on his account. In cases where the account goes into negative territory, the debt will have to be repaid not by the client, but by the company offering its services.
Therefore, official Internet brokers do not use a negative balance in their activities.
And yet, Cryptoifx.org offers its users to work with a negative balance, that is, in debt.
Why is it necessary?
To drive the user into debt and start paying off the debt. This is one of the most commonly used fraud methods used by criminals.
In the event that this happened, it must be remembered that fraudsters have no way to get finance under the law of England. Any method of influencing customers is illegal. The most that criminals can do is call, send threatening messages.
You cannot cooperate with Cryptoifx.org, as all agreements will result in losses.
CryptoIFX operate with a leverage of one to four hundred or more
Already, it becomes obvious that CryptoIFX are scammers. However, let us point out one more fact, namely the presence of an excessively large credit ratio.
Leverage is the ratio of the finances of traders and online brokers when concluding a deal. This allows you to close large trading operations to users who do not have large finances with them.
In order to protect clients in the Forex market, in civilized countries the laws provide for the use of a leverage with the largest ratio of one to 30, in rare cases 50.
At the same time, CryptoIFX uses a leverage of 1 to 400 for trading in the Forex market.
This attitude is allowed in Switzerland, as organizations registered in this country enjoy considerable credibility. However, CryptoIFX is not registered there.
In fact, CryptoIFX is not allowed to work on Forex with such a credit ratio, due to the high risk for users. Actually, this is used only to force the trader to transfer more of his funds, but also to drive him into debt.
Local divisions of CryptoIFX
It is considered solid for any financial organization to have local branches in developed countries, even if the activity is carried out only in the UK. Therefore, CryptoIFX talks about the fact that in addition to an impressive number of awards, there are local offices in the UK, Australia and other developed countries, and also about many experienced workers.
It is very easy to check the availability of these offices. After all, industry structures that control the activities of Internet brokers are known. In the UK it's FCA, and in Australia it's ASIC.
Therefore, an official firm must have official papers from these or other structures that will prove their ability to provide services for trading operations on the Forex market, determine the level of responsibility.
However, after checking the relevant official websites, our employees could not find them. This once again reinforces our suspicions.
Cryptoifx.org registration requires the transfer of personal data
As we said before, CryptoIFX does not have a trial period and therefore, in order to gain access, you must immediately pay the minimum deposit to CryptoIFX scammers. In addition, it is possible to create a Cryptoifx.org personal account only when passing identity verification.
This means that CryptoIFX requires its users to submit data such as:
- Information about an individual (passport, etc.);
- Data on the permanent place of residence (receipt for a communal apartment);
- Information about qualifications, place of work, experience.
In addition, during the initial transfer, criminals can gain access to personal account information.
Together, these data can allow scammers to issue a loan to a gullible trader, or to carry out other criminal operations.
Since registration on the official Cryptoifx.org website requires sending personal information, our experts have not received access to the CryptoIFX personal account and Forex trading services.
Real reviews about CryptoIFX
An extremely important point of exposing CryptoIFX is the analysis of user reviews.
Search results analysis allowed us to obtain the following information:
- Most of the reviews and mentions of CryptoIFX on the net are fake. These are template positive mentions and comments of a paid nature;
- All real reviews and comments about CryptoIFX are bad. We have not been able to find truthful reviews and comments from Cryptoifx.org clients that mention good earnings, productive work.
- Bad reviews and comments are related to illegal activities, theft of funds, special creation of credit.
In accordance with this, real reviews of CryptoIFX report that this broker is a scammer.
Contact information and official papers of CryptoIFX
After analyzing the mentions on Cryptoifx.org, our experts found many dubious digital documents that can be easily created using a graphic editor. They are not confirmed by official organizations, which means they cannot be trusted.
If an online broker is not associated with regulatory companies, then its users simply have nowhere to turn for help.
On the "Contacts" page, our experts found a phone number. It turned out that it had already been used by an illegal Internet 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 a Forex broker? Make sure that you can take away investments from him.
Analyzing the user agreement on the CryptoIFX website, our employees did not reveal any available information about the methods of withdrawing money. Also, our experts found a description of fees for account inactivity, but did not find data about sizes. Since the bandits do not operate in the official field, it is impossible to protest these fines.
That is, if a trader has ended cooperation with CryptoIFX, they can start calling and writing letters demanding to pay a fine.
How does CryptoIFX work?
The method of searching for new users that CryptoIFX uses also raises concerns.
For promotion, fake social media accounts are used, in which fake bloggers talk about how they instantly managed to get rich by working on the Forex market through CryptoIFX. Advertising accounts show expensive cars and jewelry, vacations in resorts, and other signs of a rich life.
Bots promise a rapid increase in profits, for which you do not need to learn or put in a lot of effort.
If a client comes into contact with scammers, CryptoIFX employees report about the reality of instant earnings, and in addition about some unique features of their programs that will make it possible to immediately withdraw a large profit.
After that, various tricks are used to get as many deposits from the client as possible. For example, a fake profit can be drawn to a client in order to motivate him to give more money.
When Forex trading becomes unprofitable, the manager will offer to invest more to compensate for the losses.
CryptoIFX managers work on algorithms created by experienced scammers. Scammers analyze information about the client in order to put pressure on specific places, to lure out even more deposits.
As a result, all this will come to one of two options:
- If you are going to receive money before you are in loans, you will be charged fees, prohibited from using the assets, and will do everything to force you to transfer more;
- If you allow criminals to drive the balance into a loan, threats will fall, criminals will extort the return of a fake loan.
An additional way to make a profit for CryptoIFX can be the sale of your confidential data to third parties. We assume that, as a result, detailed information about you will actually be bought for a modest amount of money on an anonymous community on the dark web.
Surely, because of this, various criminals, sellers, etc. will write to you more often. In addition, you should expect letters from Cryptoifx.org colleagues who will offer a “return” of lost deposits, of course, for a reward.
Since CryptoIFX does not operate in the legal field and preserves anonymity, Cryptoifx.org cannot be forced to comply under the law in Britain. The heads of the shadow organization skillfully hide and, at best, the police will be able to arrest one of the "workers".
Can CryptoIFX be trusted?
Never!
Only if you plan to give money to scammers, then spend it on a good deed.
Let's briefly list the facts that testify that CryptoIFX are criminals:
- No official registration;
- No demo period;
- No information about the owners of the company;
- Phone number seen in fraudulent schemes;
- Negative balance;
- Leverage greater than 1 to fifty;
- Bad reviews;
- Invalid data on the website.
Complete CryptoIFX Review - Completed. It is clear that CryptoIFX are criminals.
You can check out the full list of brokers to bypass.
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