Cryptico-ltd is a forex and CFD broker that claims to offer a wide range of trading products and services. However, there is a lot of evidence to suggest that Cryptico-ltd is a scam.
Company Overview
Cryptico-ltd is a company established in the UK but their office address is showing in Italy. The company started its journey in 2018. This is quite exceptional that they have an office in Italy but registered in the UK but no UK office address.
Does Cryptico-ltd Have Any License?
No, Cryptico-ltd does not have any license to operate as a forex or CFD broker. The company shows a license from the UK Business Directory but that cannot be counted as a license. That is just a registration certificate in their directory..
Is Cryptico-ltd Regulated By Any Authority?
No, Cryptico-ltd is not regulated by any authority. As they have an office in Italy, so they should have regulation from CONSOB. But, in our search we did not find any regulation from CONSOB
Cryptico-ltd Pros and Cons
Pros:
- The minimum deposit is low.
- The trading platform is easy to use.
- The spreads are competitive.
Cons:
- The company is not regulated.
- There are no customer reviews.
- The website is poorly designed.
How Does Cryptico-ltd Reach To Their Prey?
Cryptico-ltd uses a variety of methods to reach their prey. They often target inexperienced traders with promises of easy profits. They may also use social media or other online platforms to advertise their services.
Technical Details of Cryptico-ltd
Minimum Deposit: The minimum deposit at Cryptico-ltd is $50.
Trading Platform: Cryptico-ltd uses the MetaTrader 4 trading platform. This is a popular platform that is used by many other forex and CFD brokers.
Spread: The spreads at Cryptico-ltd are competitive. The average spread for EUR/USD is 1.0 pip.
Leverages: Cryptico-ltd offers high leverages up to 1:500. However, high leverages can magnify losses as well as profits.
Packages and Products They Offer
Cryptico-ltd offers a variety of trading products, including forex, CFDs, and cryptocurrencies. They also offer a variety of trading accounts, each with its own set of features and benefits.
They have a total of 5 plans. Details are given below:
Withdrawal and Deposit Method
Cryptico-ltd offers a variety of deposit and withdrawal methods, including credit cards, debit cards, and wire transfers. However, there are high fees associated with withdrawals.
What Do Their Previous Traders Say?
There are no customer reviews of Cryptico-ltd online. This is a major red flag, as it suggests that the company is not trustworthy.
Summing Up- Why Should Not You Trust Cryptico-ltd
There are many reasons why you should not trust Cryptico-ltd. The company is not regulated, there are no customer reviews, and the website is poorly designed. Additionally, the minimum deposit is low, which is a common characteristic of scam brokers.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money with Cryptico-ltd, you may be able to get your money back through a
chargeback. A chargeback is a dispute process that allows you to get your money back from your credit card company if you have been scammed.
You can also file a complaint with the CONSOB and FCA as this company claims to be registered in the UKL and have an office in Italy.
You can also contact us. Our educational material will help you to understand what should you do after a scam and how we can help. We can provide you with free consultation and service recommendations to help you recover the lost funds.
Final Thoughts
Cryptico-ltd is a scam broker that you should avoid. If you are thinking about trading with Cryptico-ltd, avoid this. There are many legitimate forex and CFD brokers out there that you can trust.
