Crypto Daily Trade is a newly registered scam company, supposedly located in San Diego, California. Without any other contact info, the only way to get in touch with this firm is via email. When the agency is this secretive about its background, it undoubtedly means something is wrong with them and the services they provide.
The website reveals basically nothing about the owning company of Crypto Daily Trade. None of the legal documents can be found to introduce the potential customer to the firm and the general conditions of trading.
|Headquarters||San Diego, California|
|Minimum Deposit||0.02 BTC/100$|
Regulation and Security at Crypto Daily Trade
Owning a license is what makes a broker credible. No amount of advertising and sweet talking could weigh more than a regulation. In the case of Crypto Daily Trade regulation is uncertain. So, to clear our doubts, we set out to determine the legitimacy of this brokerage company. Keep reading our review to see what we found.
The address on the site would imply the broker is located in the US. We all know by now that regulatory standards in the US are some of the harshest in the world. Besides the beginning capital of $20 000 000, the brokers must be safekeeping customers’ funds in segregated bank accounts.
Transparency is vital, so all money transactions are carefully monitored. Regulated US brokers are supervised by CFTC and members of NFA. After checking the NFA members list, we didn’t find Crypto Daily Trade there.
Since this broker offers their service to EEA residents, we checked several more registers kept by EU regulators like BaFin, CONSOB, CNMV, AMF, CySEC, and FINMA. As expected, Crypto Daily Trade isn’t regulated by any European financial agency. The activities of this broker aren’t supervised and coordinated by financial laws, including MiFID and ESMA rules.
No matter how hard we looked, the only certain outcome of our research is that the Crypt Daily trade is an unregulated scammer. Like all financial swindlers, they cannot guarantee the safety of funds, segregated bank accounts, and risk-reducing measures like limited leverage and negative balance protection.
Available Trading Platform
Advertisements about trading on a premium trading platform – MT5 really had our hopes up. The illusion we had about this broker being half-decent shattered after realizing no trading platform exists at all. If that’s so, there’s no need to even register an account with this fraudster.
The whole point of joining a brokerage site is getting a chance to earn by buying and selling products. Without proprietary software, trading is impossible. Crypto Daily Trade is another con that baits victims into joining their site by promising prestigious trading conditions but providing nothing.
Not investing with this scammer is the best decision to make when it comes to Crypto Daily Trade.
Deposit and Withdrawal Options
The lowest amount you can deposit with Crypto Daily Trade is 0.002 BTC which is around $30. This is less than what some regulated brokers require, but do not let it fool you. A scammer’s motive is to drag you into the entire machinery and a small deposit is a way of attracting attention. Although, in FAQs, Crypto Daily Trade states $100 in crypto is the lowest you can invest. Inconsistency is another warning sign not to trust this site.
Funding methods available are only digital currencies (Bitcoin, Tether, Ethereum, Cardano, Ripple and Litecoin). It’s not a rarity to encounter a broker that’s enforcing crypto depositing. After all, every scammer prefers anonymity as a warranty for their safety. Since crypto deposits allow this, every other financial swindler enforces it.
The process of withdrawing is supposedly free of charge and takes 1-2 hours. This means nothing when an unregulated broker claims it, so be extremely cautious.
Crypto Daily Trade Offers Promotions
A tactful bonus offering is a way for scammers to spark interest in their potential victims. Crypto Daily Trade does it through bonuses and promotions. Every client gets a 100% bonus upon depositing for the first time. All other deposits bring another 25% bonus. Sounds magical, doesn’t it?
That’s because there’s always a catch about every bonus. Allegedly tradable, these bonuses are treated as non-deposited funds and aren’t available for withdrawals. At least not until you reach a minimum trading volume requirement. Scammers tend to also take those bonuses back from your account along with all your deposited funds under the pretext of you not doing enough trading!
Offshore Brokers Scam Tricks
Now that the reader is aware of the strategic use of bonuses, we have to mention several other techniques Crypto Daily Trade could be used to deceive you. The first is the most obvious one – promising MT5 while not providing any trading software at all.
The scammer would like to make you register and then deposit to allow access to the trading software. Regulated brokers would never force you to deposit without showing the trading terminal and allowing you to try it out from a demo account first.
Furthermore, it’s noticeable how Crypto Daily Trade convincingly assures you your crypto investments will pay off incredibly fast. Scammers tend to extensively elaborate on how their offer is once in a lifetime chance to earn. While they sound like world-class professionals, they’re only trying to get you to allow them access to your capital.
Deposits and withdrawals aren’t regulated by any legal procedure, so nothing this scammer claims can be taken for granted. Shadiness about transactions is another way of easily recognizing cyber thieves.
The Best Forex Brokers
The reliability and trustworthiness of a broker come from regulatory standards and licenses. Security of funds, being the most important thing about a broker, is only certain when the firm owns a license. The best form of protecting clients’ funds is contracts with top-tier banks that allow segregated accounts for investments.
The brokers we picked as suggestions are all long-term, globally successful businesses with thousands of customers. Multiple licenses speak volumes of their credibility and honorability. Full transparency ensures the legal aspect of handling transactions, so the funds cannot be misused.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFx.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
Crypto Daily Trade Summary
Crypto Daily Trade is an anonymous broker with a questionable US address. For all we know, this scammer could be a newly registered offshore unscrupulous company earning by defrauding victims.
Cyber theft is not a pleasant experience to have. To protect yourself from falling victim to Crypto Daily Trade or any other scammer for that matter, use this review as a simple guide for avoiding scams and choosing a reliable broker.
As convincing as a broker tends to be, never risk losing your hard-earned money before you run a detailed scan. Only after you’ve made sure your broker is properly regulated and licensed can you start planning an investment.
FAQs About Crypto Daily Trade Broker
- What Are Crypto Daily Trade Deposit Methods?
Only funding method that Crypto Daily Trade allows is crypto depositing in several digital currencies.
- How Do I Withdraw my Earnings at Crypto Daily Trade?
You should be able to make a withdrawal after submitting the request which is processed within 1-2 hours. But since this broker is an unregulated scam, the withdrawals are uncertain.
- Is Crypto Daily Trade Regulated?
This brokerage company does not own a license issued by any financial authority, so they shouldn’t be trusted with anything.