In this Cryptoneyx Review, we will go out of our way to highlight how this dangerously cash-hungry broker could blow your efforts to do successful forex trading, which is so typical of scams.
The homepage of their website shows off the candlestick chart which appeals to many people so they get hooked from the very beginning. However, once you’re ready to sign up and proceed to the trading platform, there will be nothing for you.
On the subject of whether they are licensed and regulated, there is a concerning lack of transparency. There is no information about their location or under which regulations they fall, just some incredibly vague warnings about the awareness of the importance of protection that you get with regulated brokers.
|Headquarters||20 Primrose St, London EC2A 2EW, United Kingdom|
Is Cryptoneyx Legit? Regulation and Fund Security
As we have already said, this broker is clearly unregulated, since it behooves them to provide their potential clients with such information, which they fail to do. Cryptoneyx just demonstrates their concern for your financial health in a virtue-signaling manner.
Therefore, you can easily buy into their worrying apprehension of you doing business with unregulated brokers. Needless to say, your money is not safe with brokerage companies that do not comply with any rules of prominent financial regulatory institutions.
Having headquarters in the UK and not being regulated by FCA is a major red flag! Your funds are not safe with them!
Trading Platform Offered at Cryptoneyx
It is not possible to get access to their trading platforms once you set your account in motion, although they assert that they run their business on a WebTrader. It enables you to use it on your Android or iOS device.
The most well-liked trading platforms are MT4 and MT5. MT4 differs from MT5 in terms of the number of timeframes. As you probably know, the greater number of timeframes offered in MT5 can help you deal with your money in the way you, please. Some people prefer large timeframes, while others gravitate towards smaller ones.
Also, on these platforms your financing is bespoke. Those customization features make trading more fun and personal.
The advanced trading platforms make it simpler to navigate through the volatility of the market.
Available Trading Instrument at Cryptoneyx
Their website is unusually obscure, so it’s hard to tell what kind of trading instruments they offer. As with the Terms and Conditions, you will be expected to abide by them without even taking a look at them. It is a major red flag that there is no disclosure of the Terms and Conditions or their Bonus policy.
The leverage is as high as 1:400 which may take a toll on your risk management. It is of paramount importance to carry your risks in a harmless way.
How Do They Initiate The Scam?
As is typical of scam brokers, they will pay for articles to be written about them to woo your investment money into their pockets. If you give them your contacts, you will be inundated with calls. There’s a strong likelihood, you will entrust your bank card number and then everything will go into a downward spiral.
Cunningly enough, they will intuitively measure your financial literacy and then move on to cajole you into investing more. For the sake of you investing more, they will sometimes tell you that you’re making some winnings.
Deposit and Withdrawal Methods
The minimum deposit at Cryptoneyx is exorbitantly high. It is, in fact, € 10,000 which is available with the Bronze account. It may signal to some that they are more serious in their deals which makes them be deemed more as the experts. However, you should be aware of safe and secure brokers that ask for far less.
It seems like everything boils down to the broker’s withdrawal methods and requirements. Basically, the more demanding the requirement, the more likely it is that they are a fraud. What they ask for are bank fees and taxes before you’re allowed to make a withdrawal. In reality, you never get the money back.
Cryptoneyx is no different.
They assert that Cryptoneyx offers different methods of making deposits. Not only Credit Cards but also bank wire transfers and crypto wallets. The same goes for withdrawals. The processing time depends on the chosen method.
Reliable Forex Brokers
We would like to recommend trusted brokers which adhere to relevant regulatory institutions such as FCA and CySEC. Your money is protected with them. You can trade with peace of mind.
Their minimum deposits are reasonable and accessible to the vast majority of people, especially to those who would like to start out small.
|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|
To conclude, Cryptoneyx is not a safe broker, it may even be an illegal one because their opaque ways are in and of themselves a warning. Not only are their ways not transparent, but they are also quite sloppy, due to the fact that they didn’t even bother to give you the links to download MT4 and MT5, which they supposedly use.
We hope that we shed some light on this fraudulent broker and that you won’t be ashamed to report them. In light of their generous offers not being backed up by regulation, we can assure you they are not to be trusted.
FAQs About Cryptoneyx Broker
What Are the Funding Methods for Cryptoneyx?
It offers 8 different accounts called: Bronze, Silver, Gold, Platinum, Diamond, Premium, VIP, and Islamic accounts.
Is Cryptoneyx Regulated?
No, it is an uncontrolled broker and this alone should dissuade you from doing business with them.
How Long Does it Take to Withdraw from Cryptoneyx?
They claim that it all depends on your method. Credit and debit cards are the fastest methods. As with the processing time of deposits, it takes only a few minutes. In reality, you never get to see that money again.