Cryptowhisperer is a forex and cryptocurrency trading broker that claims to offer a wide range of trading features and services. However, there are a number of red flags that suggest that Cryptowhisperer is a scam.
Company Overview
Cryptowhisperer is a relatively new broker, having been established in 2022. The company is registered in the Marshall Islands, which is a known offshore financial center. Cryptowhisperer does not have any licenses or regulations from any reputable financial authorities.
Does Cryptowhisperer Have Any License?
No, Cryptowhisperer does not have any license from any reputable financial authority. This is a major red flag, as it means that the broker is not subject to any oversight or regulation. This leaves investors with no recourse if they lose money trading with Cryptowhisperer.
Is Cryptowhisperer Regulated By Any Authority?
No, Cryptowhisperer is not regulated by any authority. This is another major red flag, as it means that the broker is not subject to any oversight or regulation. This leaves investors with no recourse if they lose money trading with Cryptowhisperer.
Pros and Cons
Pros:
- Cryptowhisperer offers a wide range of trading features and services, including forex, cryptocurrency, and CFD trading.
- The broker claims to offer competitive spreads and leverage.
- Cryptowhisperer has a user-friendly trading platform.
Cons:
- Cryptowhisperer is not regulated by any reputable financial authority.
- The broker has a history of complaints from users.
- Cryptowhisperer is not transparent about its fees and charges.
How Does Cryptowhisperer Reach To Their Prey?
Cryptowhisperer uses a variety of methods to reach potential victims, including:
- Online advertisements
- Social media
- Cold calls
- Emails
The broker often targets people who are new to trading or who are looking for ways to make quick money. Cryptowhisperer promises high returns with little risk, but this is simply not true.
Technical Details
Minimum Deposit:
The minimum deposit requirement for Cryptowhisperer is $250.
Trading Platform:
Cryptowhisperer uses the MetaTrader 4 trading platform. This is a popular platform that is used by many other brokers. However, it is important to note that the MetaTrader 4 platform is not regulated by any financial authority.
Spread:
The spreads offered by Cryptowhisperer are not competitive. The spreads for EUR/USD are typically around 1.5 pips, which is higher than the industry average.
Leverages:
Cryptowhisperer offers high leverages, up to 1:500. However, high leverages can magnify losses as well as profits. It is important to use leverage with caution.
Packages and Products They Offer
Cryptowhisperer offers a variety of trading packages, each with its own set of features and benefits. The most basic package, the Starter Package, costs $250. This package includes access to the MetaTrader 4 platform, a demo account, and educational materials.
The more expensive packages offer additional features, such as live trading signals, a personal account manager, and access to a trading academy.
Withdrawal and Deposit Method
Cryptowhisperer offers a variety of deposit and withdrawal methods, including credit cards, debit cards, wire transfers, and cryptocurrencies. However, there are a number of fees associated with these methods. For example, there is a 5% fee for credit card deposits.
What Do Their Previous Traders Say?
There are a number of complaints about Cryptowhisperer online. Some traders claim that the broker is a scam and that they have lost money trading with them. Others claim that the broker is difficult to withdraw money from.
Summing Up- Why Should Not You Trust Cryptowhisperer
There are a number of reasons why you should not trust Cryptowhisperer. The broker is not regulated by any reputable financial authority, it has a history of complaints from users, and it is not transparent about its fees and charges. If you are considering trading with Cryptowhisperer, I urge you to reconsider. There are many other more reputable brokers available.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money trading with Cryptowhisperer, you may be able to get your money back through a chargeback or by filing a complaint with a financial regulator. However, it is important to act quickly, as the broker may try to delay or deny your request.
