Thinking of getting into business with Fxcryptominer? Here is what you must know about this broker. Carefully read this review to find out if fxcryptominer.com is the trading platform you will want to trade with.
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About Fxcryptominer Broker
Fxcryptominer is an offshore brokerage company with a lot of promises for traders. Firstly, the broker address cannot be found on the webpage. What we saw was a phone line in Australia. To begin with, this is a red flag that reminds us of similar fraudulent scheme of scam brokers.
There are different account type the broker offers.
To clarify, regardless of the trading instruments Fxcryptominer claims to offer, traders must know they are dealing with an unknown broker which does not have a regulation over its head.
fxcryptominer.com: Reasons to Avoid This Broker
Firstly, fxcryptominer.com is a platform with no financial authority overseeing its financial services. We discover this broker is not worth your money as neither of those financial regulators (FCA, ASIC & FSCA) has approved Fxcryptominer on their database.
Secondly, we noticed fxcryptominer.com has no demo account for traders. Since traders can’t test the broker on a free account, we can’t know its viability in the forex market.
More so, this broker does not offer money back guarantee which means trading on such platform is clearly a risk as your money cannot be refunded.
These are cons for forex traders to avoid losing money with this scam broker. It is always advisable you check for regulated and licensed broker on financial authorities websites before depositing fund for trading.
Withdrawal and Deposit
Withdrawal process
Under withdrawal policy, Fxcryptominer leaves us with no specific information on withdrawal fee nor processing days on withdrawal. Truly, this broker is a scam and its fraudulent schemes are clear.
Minimum Deposit
Fxcryptominer minimum deposit is pegged $100 according to the account type.
As for the payment methods, the broker accepts only cryptocurrencies. Truly, you should not consider making any payment with this broker because it is a risk. So beware!
Fxcryptominer Platform
Fxcryptominer offers web based trading platform and not MT4 or MT5 (Industry standard trading platforms) which gives us more reason not to take this broker serious.
As for the leverage, there is nothing to talk about. Nevertheless, we say don’t consider doing that with an unregulated forex broker like this one because you stand the chance of losing your money.
Fxcryptominer Licensing and Regulation
It is not far from believing that this broker is not a licensed brokerage firm. It is not under any financial regulation which means wiring your money for trading is risky. Its unlicensed and unregulated activities are truly a red flag and must be avoided.
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Licensed in Australia(ASIC) and Cyprus(Cysec)
Accepts Traders Worldwide
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Conclusion: Is fxcryptominer.com a Reliable Broker?
No, fxcryptominer.com does not seem like a reliable broker for traders even though it promises offers that look good to be true.
Most importantly, the broker is unregulated which means it is not authorized to operate in any regulated country and you should definitely not put any money into it.
Because we have taken it as a duty to find out scam forex brokers and also share reasons, we will not recommend this broker for trading.
Kindly share your comment about this broker in the comment section.