Cryptocurrencies are known for their volatility and scandals, yet they still appeal to those seeking fast and effortless gains.
This interest creates an opportunity for financial scammers, who create websites that guarantee profits from cryptocurrency investments without requiring financial trading experience. CryptoPoint72 is one such fraudulent website. There is ample evidence to suggest that this firm’s only goal is to defraud you of your funds. Let’s examine the details in this CryptoPoint72 review.
|Minimum Deposit||2,500 GBP/$250|
Regulation and Security of Funds
Cryptopoint72 claims to be a reputable investment option with its alleged UK base – an ideal location, given the UK’s stringent financial regulatory body, the Financial Conduct Authority (FCA). With the FCA’s strict oversight, brokers under its jurisdiction are required to follow the law and uphold the fair treatment of their clients.
Unfortunately, Cryptopoint72 is not licensed by the FCA. Unlicensed brokers are prohibited from operating in the UK, posing a significant risk to those who choose to invest with them. On the other hand, licensed brokers are deemed trustworthy and provide clients with a host of protections, making them the superior option. By choosing a licensed broker, investors can avoid the dangers of potential scams and ensure a safer and more reliable investment experience.
Trading Platform at CryptoPoint72
While web-based trading platforms can be a great option for beginners, this particular broker is far from reputable. Although these platforms don’t have the same level of functionality as popular software like MetaTrader 4, they still offer decent features. However, we cannot in good conscience recommend trading with a shady broker like this. We advise traders to seek out licensed MetaTrader 4 brokers instead.
Most traders, even those who are just starting out, are familiar with MetaTrader 4 or have at least heard of it. This platform has been around for more than 15 years and is still considered the gold standard in forex trading. With a massive community of millions of daily users, it’s no wonder why MetaTrader 4 is a trusted choice for traders worldwide.
Trading Instruments Offered
Traders are exploring the potential of investing in a diverse range of tradable assets, including crypto, indices, forex, stocks, and commodities. However, to be eligible for investment with Cryptopoint72, potential investors must first make a huge minimum deposit into their trading account before they can begin trading.
Cryptopoint72 offers a variety of trading accounts to choose from, each with its own so-called features and benefits. It is far from the truth that Cryptopoint72 empowers traders to take control of their investments. You should keep this in mind.
Account Types at CryptoPoint72
At first glance, Cryptopoint72 appears to offer a wide range of account options to cater to different types of traders. With five different account choices available, ranging from Starter to VIP, clients are given the impression that they can find an account that suits their trading needs.
However, this variety of account options is nothing but a deceptive tactic employed by Cryptopoint72 to lure unsuspecting investors into their scam. Each account option has a significantly high deposit requirement, starting at £2,500 and reaching as high as £50,000. The broker claims to offer a range of features such as an account manager, risk-free trades, risk management tools, trading alerts, and auto chartist. However, in reality, these features are nothing but empty promises used to dupe investors into depositing more money.
In short, Cryptopoint72 is nothing but a scam, using account options and false features to appear legitimate and attract investors. Investors should steer clear of this broker and avoid becoming the next victim of their fraudulent scheme.
Deposit and Withdrawal Procedure
This broker only accepts Bitcoin deposits, which is a red flag as this broker is known for being shady. Scammers often ask for cryptocurrency deposits because they are hardly reversible, which means that if you send money to this broker, you can hardly get it back. It’s imperative to avoid depositing with scam brokers to avoid losing your money.
Tip: Reporting a broker scam is crucial for several reasons. Firstly, it can help prevent others from falling victim to the same scam. When a broker is reported for fraudulent activity, authorities, and law enforcement agencies can investigate the matter and take appropriate action. This can include shutting down the scam broker’s operations, freezing their assets, and even pressing criminal charges against the individuals responsible. As a result, other potential victims can be saved from losing their hard-earned money.
How Does This Scam Operate?
Broker scams operate in various ways, but most follow a similar pattern. Scammers typically create fake brokerage firms, often with names that sound legitimate. Also, they offer attractive trading opportunities to lure unsuspecting investors.
They may also use aggressive sales tactics, such as high-pressure calls or emails, to convince investors to deposit money into their accounts. Once the investor deposits money, the scammer may use various tactics to prevent the investor from withdrawing their funds.
These tactics include requiring additional deposits or providing false information about the status of the account. In some cases, scammers may even impersonate regulatory authorities to further deceive investors. The ultimate goal of a broker scam is to steal investors’ money, often leaving them with little or no recourse to recover their losses. It is crucial for investors to do their due diligence and thoroughly research any brokerage firm before doing anything to avoid falling victim to a scam.
Top Forex Brokers
Behold the crème de la crème of forex brokers, conveniently laid out in the table below. Feast your eyes on these top-notch brokers, each carefully selected for their exceptional features and services. With this list at your fingertips, you can confidently choose the forex broker that best suits your trading needs and preferences. So don’t wait, dive into the table and discover the best of the best in the world of forex trading.
|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|
CryptoPoint72 is a broker that offers traders the opportunity to invest in a variety of multi-tradeable assets, including crypto, indices, forex, stocks, and commodities. However, it is suspected of being a scam broker that only accepts Bitcoin deposits.
It offers several account options ranging from Starter to VIP, each with different deposit requirements and features. The broker’s tactics may include aggressive sales tactics and preventing investors from withdrawing their funds. It is crucial to report any suspicious activity and do thorough research before investing to avoid falling victim to a broker scam.
Is CryptoPoint72 Regulated?
There is no information available to suggest that CryptoPoint72 is a regulated broker. Therefore, it is advised to exercise caution.
What Is The Funding Method at CryptoPoint72?
The funding methods offered by CryptoPoint72 are not clearly stated on their website. It is important to always conduct thorough research.
Does CryptoPoint72 offer a Demo Account?
It is unclear whether CryptoPoint72 offers a demo account as there is no information provided on their website.