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CCX Crypto Review - is it scam or safe?

CCX Crypto Review - is ccxcrypto.com scam or good forex broker?

RATING: 1 / 1 REVIEWS CCX Crypto
CCX Crypto is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Trading account  Min. deposit  Max. leverage Spread
Basic  N/A  1:100 3 pips, fixed
Pro  N/A  N/A  2 pips, fixed
VIP  N/A  N/A  1.5 pips, fixed

 

CCX Crypto is a forex broker that offers three account types and trading in many financial instruments, including wide range of coins. However, this forex and CFD broker is not licensed, and was blacklisted by several financial regulators, which is the main reason why we don’t recommend it.

 

 

CCX Crypto Advantages

 

Activ8 platform, wide range of assets

The platform CCX Crypto uses, ACTIV8, is a solid choice of a trading terminal. Created by the developer of Sirix (Leverate), ACTIV8 offers nice charting, ‘Strategies’ category that provides an array of EA/bots, and incorporated external market analysis. The latter includes 3 categories: ‘Market Analysis’, ‘News’, and ‘Calendar’ displayed on the right side of the interface. Furthermore, the platform can be easily synchronized with both MetaQuotes’ platforms (MT4 and MT5).

 

Furthermore, CCX Crypto’s offer seems very broad in terms of assets available for trade. The broker’s product portfolio covers currency pairs, CFDs on indices, commodities, precious metals, stocks, and cryptocurrencies. In case you are interested in trading digital assets like Bitcoin in the form of CFDs, check out our list of reliable brokers who offer that.

 


>> Trade Bitcoin with a well regulated broker <<

 

 

Solid leverage

Another possible advantage of CCX Crypto is the solid leverage levels this broker extends to clients, up to 1:100. The leverage available to retail clients is capped at lower levels in many jurisdictions such as the UAS, EU, Japan, Canada, and Turkey. The reason for this is that high leverage brings along greater risk of losses, so make sure you fully understand the principles of margin trading prior to using such.

 

 

CCX Crypto Disadvantages

 

Not licensed

The website of CCX Crypto features two companies: Bonatech Ltd., which is registered offshore, on the Marshall Islands, and Bulgarian Mitchel Group EOOD.

 

 

Click on the image to view larger.

 

However, nothing is mentioned about financial regulation, and while forex brokers on the Marshall Islands don’t have to be licensed, those operating out of Bulgaria should be authorized by the local Financial Supervision commission or a similar EU financial agency.

 

The fact that CCX Crypto is not regulated means that their clients’ money is not protected, nor insured. It also means that if the broker operates on any regulated financial market, it does so illegally.

 

Blacklisted by CNMV, FinaCom

Obviously, the broker targets illegally Spanish investors, as it was blacklisted by Spain’s financial regulator, the CNMV.Furthermore, the Financial Commission (FinaCom), the independent external dispute resolution (EDR) has also added CCX Crypto to its warning list.

These are clear-cut signs of trouble. We can safely conclude that potential clients of this broker are open to substantial risk of being ripped off.

 

Unusual extra fees

Furthermore, we stumbled upon worrisome provisions of the broker’s Refund and Withdrawal policy documents uploaded on their website.

 

 

Click on the image to view larger.

 

It appears that CCX Crypto charges pretty solid withdrawal fees, and also has set trading volume requirement. So, its clients are not allowed to withdraw any money prior to trading at least 200 lots, which is unfavorable to their clients, as it means undertaking additional risk. Besides, setting such trading volume requirements to withdrawals is not a common practice in the trading world. Usually such conditions are applied to withdrawal of non-deposited funds such as trading bonuses.

 

No access to MT4 

We always view the lack of the ever-popular MetaTrader 4 (MT4) trading platform as a negative. While Activ8 is not too bad a platform, MetaQuotes’ forex trading software is the industry’s leading, and most traders prefer it.This piece of trading software offers numerous features and options, with great charting and useful analysis tools. Besides, it is very popular for its auto trading bots, called Expert Advisors.

 


>> Prefer trading on the MT4? <<

 

 

High spreads

According to the information on CCX Crypto’s website, the spreads this broker offers are fixed at 3.0 on EUR/USD on Basic accounts, which is not a competitive pricing. Most fixed-spread brokers offer spreads of 2 pips for this pair, and those who offer floating ones, go lower. Besides, many of those companies are regulated and have built themselves a solid reputation.

 

 

>> Compare the spreads of top rated brokers in real time <<

 

 

Conclusion

 

CCX Crypto is an unregulated broker blacklisted by several financial authorities and most likely a scam. That is why we advise our readers to invest in reliable and licensed forex brokers, such as the ones regulated by a reputable financial authority in Europe.

 

 

>> Forex brokers regulated in Cyprus <<

 

 

Here is a summary of our review of CCX Crypto:

 

Pros Cons
Activ8 platform, many CFDs available Not regulated
Solid leverage Blacklisted by several regulators
  Unusual extra fees
  MetaTrader not available
  Trading conditions not fully disclosed

 

Latest news about CCX Crypto
No news about CCX Crypto . Check back later.
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Traders` reviews for CCX Crypto

Spread

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Slippage

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Requotes

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Price feed

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Platform

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Cons

 

 

Deposit/Withdraw

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Customer service

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Summary

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CCX Crypto - Benimle kimse ilgilenmiyor

Helih tutar sen benim le ilginenmiyosun benim hesabın tümünü göndermeniz gerekmektedir durumlar kötü olduğunu söyledim telefon bunu bilen açmıyor sunuz 2/4/2019 paramı yatırdım 09/07/2019 oldu benim paramı bana ödeme yapmadınız 44 7449 287 284 vassap numarasını açmıyor sunuz ben sizden ümidini kirdiniz

Translated by Google:

Nobody cares for me
Helih amount you have to send all of my account you ilginenmiyosun told me that the situation is bad, the phone does not know who told me that it was sunday 2/4/2019 my money was 09/07/2019 did not pay me my money 44 7449 287 284 I hope you did not open the vassap number

Burhanettin Bahar 07/09/2019
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