Crypto800 is a forex broker that is supposedly located in Marshall Islands and licensed by the authorities of the Marshall Islands . In the review below, we take an in-depth look at the features crypto800.com allegedly offers. This review basically answer the questions: is Crypto800 legit? Is Crypto800 good? The review covers aspects of its licensing, its account types, its leverages, its withdrawal and deposit methods. Read through our review to see what we and other experts have to say about Crypto800 forex broker.
Table of Contents
Crypto800 Trading Platform
This broker claims to offer the MT4 trading platform with leverage capped at 1.5.
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Although This broker claims to provide the Metatrader 4 but the download links on its website leads to another. It leads to a distribution of Metatrader 4 owned by techinvest
The website is exclusively in English. The user Area can be accessed in: Croatian, German, French, Italian, Portuguese, Japanese, Polish, Romanian, Vietnamese, English, Arabic, Bulgaria, Chinese, Czech, Russian, Spanish, and Greek. This is another indication that this broker might just be a scam.
Crypto800 Account Types
In this portion of the review, we aim to explore the account types a broker might have. We check the account with its corresponding deposit and leverage. Doing this gives a clearer idea how a broker might work.
After checking, we discovered that this broker has
Crypto800 Deposit and Withdrawal Methods
Deposit and withdrawals are the two most important transactions for us because the end goal of trading is making a profit. In this section, we look at these methods to make sure everything is okay with it.
Deposits are done via Tyconx Deposit Virtual Terminal, credit card, bitcoin, litecoin, and bitgold. The minimum deposit is €1000, which is way too high; four times the average requirement
We do not advise you to send any funds to them as transactions with cryptocurrencies are hard if not impossible to trace or reverse
Another thing to keep in mind is that there might also be withdrawal conditions concerning accounts that take advantage of the bonus promotion. Some fraudulent brokers stipulate that a trader must achieve a certain trading volume to be eligible for withdrawal. They do this to stop traders from making a withdrawal.
Is Crypto800 Licensed?
Licensing is another important part because we can trust a regulated broker to some extent not to do anything fraudulent. We do this part of the review by first checking the name of the company attached to the broker. Then we run that name through various regulatory bodies to discover if it regulates said brokerage.
Aside from the fact that Crypto800 doesn’t give any licensing information, we cannot ignore the fact that this Broker resides in the Marshall Islands. Marshall Islands is a place that attracts shady brokers because of their lack of proper licensing laws and a regulatory body.
To Know if a body licensed a broker. Traders should check regulatory bodies such as the FCA in the UK, ASIC in Australia, CySEC in Cyprus, BaFin in Germany, CONSOB in Italy, and many others.
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Conclusion
We wouldn’t recommend using this forex brokerage, they do not impress us with the vague information they have provided.
In conclusion, we would not advise or recommend you to trade with crypto800.com , as they don’t give any valid information concerning if they are a regulated broker, Leading us to the conclusion that they are not.
Trading with them would likely result in you losing your money. There is a tremendous risk on any transactions interested traders may conclude with the brokerage and we deeply recommend they look elsewhere for viable trading option.