Cronosca Review 2024: Cronosca Crypto Trading Scam?

Cronosca is a scam broker. They have several warning issues and other problems with their previous clients.

Trusting an online broker with your hard-earned money is a high-stakes gamble. Cronosca, claiming to offer “unforgettable trading experiences,” might seem alluring, but a closer look reveals numerous red flags suggesting it’s not all sunshine and rainbows.

What is Cronosca?

Cronosca paints itself as a “leading global multi-asset brokerage platform” dealing in CFDs, cryptocurrencies, and Forex. They boast of user-friendly trading platforms, generous leverage, and educational resources. But beneath the shiny veneer lies a potentially treacherous reality.

Cronosca Details

Deposits and Withdrawals

Cronosca accepts deposits through credit/debit cards, bank transfers, and several e-wallets, including Bitcoin and Ethereum. However, user reviews raise concerns about withdrawal delays, unexplained fees, and unresponsive customer support.

If you have lost money to companies like CoinRilon, or Xafexbit; please report it to us on our Report a Scam form.

Account Types

Cronosca does not maintain a list of various account kinds, in contrast to the majority of other suppliers of similar financial services. This suggests that all traders have access to a single trading account. Not very practical for traders to implement radically varied tactics. 

Furthermore, Cronosca doesn’t even list the capabilities that are included with the one available account type. An additional warning sign and an example of violating the rules governing transparency.

Red Flags and Warning Signs

There is only one way to tell if a broker is legitimate or not. The only genuine indication that a company is permitted to conduct bank transactions and provide investment services is the presence of a license. Cronosca’s website does not provide any such evidence. Additionally, all legal documents are absent from the website. 

There was nothing else to do but begin asking the Tier 1 regulatory agencies if they had any intelligence regarding this location. According to search results, FCA, BaFin, CySEC, ASIC, and CONSOB do not have any information about Cronosca. Considering how recent the website is, this is hardly shocking. 

We can conclude from this that Cronosca is running without a required certificate.

Customer Complaints and Negative Reviews

A quick search online reveals a treasure trove of disgruntled Cronosca users. Recurring complaints include:

• Withdrawal delays or outright refusal: Traders report being unable to withdraw their funds, often met with excuses and technical glitches.
• Poor customer support: When users encounter issues, contacting Cronosca is often an exercise in futility, with long wait times and unhelpful responses.
• Trading platform glitches: Complaints mention platform freezes, inaccurate pricing, and suspiciously timed disconnections during profitable trades.

Cronosca Alternative Brokers

Instead of risking your capital with Cronosca, consider these reputable, regulated brokers:

• IG: Highly regulated with a long track record, offering a wide range of assets and a user-friendly platform.
• Saxo Bank: Another well-established and regulated broker known for its advanced trading tools and excellent customer service.
• Interactive Brokers: A popular choice for experienced traders, offering deep liquidity, low commissions, and access to various markets.

Got Scammed by Cronosca? We Help Victims!

If you’ve fallen victim to Cronosca’s deceptive practices, there are steps you can take:

• Report the scam to relevant authorities: File complaints with financial regulators and consumer protection agencies like the Financial Conduct Authority (FCA) or the Federal Trade Commission (FTC).
• Seek legal advice: Consult a lawyer specializing in financial fraud to explore potential legal options.
• Share your experience online: Warn others about Cronosca by posting reviews on platforms like Trustpilot and Forex Peace Army.

Remember, prevention is always better than cure. Before entrusting your money to any broker, research their reputation thoroughly, prioritize regulation, and be wary of unrealistic promises and excessive leverage.

By staying informed and vigilant, you can navigate the complex world of online trading without falling prey to deceptive brokers like Cronosca or You Can report to us today by the below form.