The broker CryptoIFX, which operates in Britain, is considered a scammer with unclean fame.
29 / April / 22 Visitors: 360
When we get to the official website of CryptoIFX - Cryptoifx.org, we will find that this company provides intermediary services for trading operations in the Forex financial market in the UK. CryptoIFX also offers software for financial transactions.
Our specialists studied the official website of CryptoIFX, got acquainted with the conditions of action, tried to get test access to the software, investigated the availability of official papers, the place of registration of the organization.
With the help of this information, we will find out: Is CryptoIFX a scam or not?
In addition, we will tell you how not to fall for the bait of scammers, about their work algorithms. We will provide the necessary information to keep your money safe.
CryptoIFX organization based offshore
A serious signal that indicates that Cryptoifx.org are bandits is the registration region. The company is officially registered in the Republic of the Marshall Islands, which is already suspicious, since CryptoIFX operates in England. Offshore countries are popular with scammers due to the lack of the need to comply with the law and supervision.
Also, this region does not have rights for Forex activities.
In addition, when our employees tried to find the real address, data about the owners and directors of Cryptoifx.org, they could not find anything.
This already shows that Cryptoifx.org is a fake broker, working with which will result in significant financial losses.
No CryptoIFX Manual Found
After examining the website, our experts could not reveal the truthful information about the management of Cryptoifx.org. No physical address, no phone numbers or other methods to get in touch.
Basically, this means that the current owners are trying to hide themselves in order to hide from punishment for crimes. If you manage to reach out to one of the CryptoIFX managers, then everything will end with this, and the real organizers of the fraudulent company will remain at large.
CryptoIFX, official website - CryptoIFX, has been running for less than thirty days
The CryptoIFX website talks about significant experience in Forex operations.
The main way to analyze any web site is to get data about the domain name. Most often, they record the age of the existence of a domain name, the contact details of its owner.
In a specific case, the Cryptoifx.org domain has been operating for less than one month, and all information about the person who owns it is hidden. Another evidence that the CryptoIFX management is trying to protect incognito.
Such a desire can be understood, but not when it comes to a financial institution acting as an intermediary between the user and the Forex market.
At the same time, Cryptoifx.org assure their potential clients that they have been working effectively in the Forex market for a long time.
Cryptoifx.org does not have a trial period
It is normal practice for Internet brokers to provide traders with a demo version of their software so that they can familiarize themselves with the interface, try out the possibilities in playing the Forex financial market with fake money.
Unfortunately, on the Cryptoifx.org website, we did not find any mention of a trial period, an opportunity to try the software.
We think that the owners of the CryptoIFX company are simply not going to provide users with demo access to the service, since someone is able to start to suspect something is wrong.
Internet broker CryptoIFX operates with a negative balance
Registered firms that operate on Forex do not use a negative balance in their work. By law, a broker's client is not able to spend more now is on his balance sheet. In cases where the account goes into a negative value, it is not the trader who is obliged to repay the loan, but the organization that provided the services.
Because of this, legal brokers do not use a negative account in their activities.
However, CryptoIFX offers users Forex operations with a negative balance, that is, in debt.
What is it for?
In order to drive a trader into credit and debt. This is one of the most commonly used deception methods used by financial bandits.
If this has already happened, you need to know that scammers have no way to collect money under the law of England. All methods of influencing traders are illegal. The maximum that scammers are capable of is to disturb with calls, write messages with demands.
It is impossible to cooperate with CryptoIFX, as the agreements will result in new expenses.
Cryptoifx.org operates with a credit ratio of one to 400 or more
Already, it is clear that CryptoIFX are scammers. Nevertheless, let us point out another fact, namely the existence of an excessively high credit ratio.
Credit leverage is the ratio of users' and brokers' finances at the conclusion of a transaction. This allows you to close large transactions for traders who do not have access to large amounts.
In order to protect customers in the Forex market, in developed countries, the current laws require the use of leverage with a maximum ratio of 1 to 30, sometimes 50.
At the same time, CryptoIFX uses a leverage of one to 400 for operations on the Forex market.
A similar ratio is allowed in Switzerland, as companies registered in this country are highly trusted. However, CryptoIFX is not registered in this country.
In essence, CryptoIFX is not eligible to trade in the Forex financial market with such a credit ratio, due to the high risk to clients. Actually, this is done in order to force the client not only to give away as much personal finance as possible, but also to drag him into debt.
CryptoIFX Local Offices
It is considered solid for any firm to have regional divisions in developed regions, even if the work is carried out only in the UK. So CryptoIFX reports that in addition to an impressive number of awards, there are local divisions in the UK, Australia and other civilized countries, as well as many experienced workers.
Checking the existence of these representations is elementary. After all, there are specialized structures that regulate the work of brokers. In the UK it's FCA, and in Australia it's ASIC.
That is, a law-abiding company must have permits from these or other structures that will confirm their ability to provide trading services on the Forex financial market, indicate the degree of responsibility.
However, after checking the relevant official websites, our experts could not find them. Which once again reinforces the fears.
For registration on Cryptoifx.org, you need to transfer personal data
As we mentioned earlier, CryptoIFX does not have a trial period and because of this, in order to gain access, you must immediately transfer the minimum deposit to the CryptoIFX bandits. In addition, it is possible to create a Cryptoifx.org personal account only when the client is verified.
This means that CryptoIFX requires its users to provide information such as:
- Information about an individual;
- Information about the permanent place of residence (receipt for utilities);
- Information about qualifications, length of service, place of work.
In addition, during the initial transfer, scammers are able to access bank account data.
Together, this information can enable criminals to swipe credit on a user or carry out other illegal activities.
Since you need to submit personal data to register on the Cryptoifx.org website, we were unable to access the CryptoIFX personal account and Forex trading software.
Reviews about CryptoIFX
An important point of exposing CryptoIFX is to study the feedback of traders.
The analysis of search results on the Internet allowed us to obtain the following data:
- Most mentions of CryptoIFX on the internet are lies. These are similar positive mentions of a custom type;
- All real reviews and comments about CryptoIFX are bad. Our staff were unable to identify credible testimonials and references from Cryptoifx.org clients that would mention earnings, effective trading.
- Bad mentions and comments are related to criminal acts, theft of funds, special creation of debt.
Therefore, reviews of CryptoIFX indicate that the broker in question is a scammer.
Contact information and official papers of CryptoIFX
Analyzing the information on Cryptoifx.org, our experts have identified many dubious digital official papers that can be easily made using a graphic editor. They are not confirmed by official firms, which means they cannot be trusted.
If an online broker is not associated with regulatory companies, then its traders simply have nowhere to turn for help.
On the "Contacts" page, our specialists found a phone number. It turned out that it had already been used by an illegal broker. There are also many reviews on the net about fraudulent activities associated with the phone number listed on Cryptoifx.org.
Withdrawing money from Cryptoifx.org
Are you going to make money with the help of an online Forex broker? Make sure you can take money from him.
Having studied the trading agreement on the CryptoIFX website, we did not find specific information about the ways to withdraw funds. In addition, our experts saw a description of punishments for long-term inactivity of a personal account, but did not find data on the amount. Since the bandits do not operate in the legal field, it will not work to protest these extortions.
That is, even if the client has finished working with CryptoIFX, he can be called and spammed with a demand to pay off the fine.
How does CryptoIFX work?
The method of finding clients that CryptoIFX uses also raises concerns.
For advertising, fake social media profiles are used, in which fake bloggers report how they quickly managed to earn income working in the Forex market using CryptoIFX. Advertising accounts showcase expensive cars and jewelry, travel to resorts and other manifestations of a rich life.
Non-existent people promise instant income, for which you do not need to learn or put in a lot of effort.
When a trader comes into contact with scammers, CryptoIFX employees confirm the possibility of instant income, as well as some unique abilities of their programs that allow you to quickly get a solid income.
Then various manipulations are used to get as much finance from the user as possible. For example, a user can create a small profit in order to motivate them to invest more money.
When work on Forex turns out to be unprofitable, the personal manager will offer to transfer more in order to close the debt.
CryptoIFX managers act according to algorithms developed by skilled deceivers. They study user information in order to put pressure on vulnerabilities, pull out even more deposits.
In any case, all this will lead to one of the results:
- When you are about to receive money before you are in loans, you will be charged fees, prohibited from using the balance, and will do everything to force you to pay more;
- When you allow the bandits to drive the account into debt, there will be threats, criminals will extort the fake debt.
Another way to make money for CryptoIFX can be the sale of your personal data to third parties. We assume that, after that, information about you will actually be purchased for a small amount of money on some anonymous Telegram channel on the shadow Internet.
Surely, because of this, various bandits, managers, etc. will call you more often. It is also worth waiting for letters from Cryptoifx.org accomplices who will begin to offer a “return” of lost funds, of course for a fee.
Since CryptoIFX does not operate in an official field and preserves anonymity, CryptoIFX cannot be forced to be liable under the law in England. The heads of the shadow organization skillfully hide and, at best, law enforcement agencies will be able to figure out one of the "managers".
Can CryptoIFX be trusted?
If you are going to give money to bandits, then transfer it to a good cause.
Let's briefly list the evidence that says that CryptoIFX are scammers:
- No official registration;
- No trial period;
- Lack of information about the owners of the company;
- Phone number seen in fraudulent schemes;
- Negative balance;
- Credit ratio greater than one to fifty;
- Negative reviews;
- False information on the website.
Complete CryptoIFX Review - Finished. It is clear that CryptoIFX are scammers.
For your safety, we have compiled a complete list of unscrupulous brokers.