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Crypto Exchange Pro Review - is it scam or safe?

Crypto Exchange Pro Review - is cryptoexchangepro.com scam or good crypto broker?

RATING: 1 / 21 REVIEWS Crypto Exchange Pro
Crypto Exchange Pro is not regulated. We cannot guarantee your money is safe.

Trading Accounts and Conditions

 

Trading account Min. deposit Min. investment  Payout
Standard Not specified $5  80%

 

Crypto Exchange Pro is not a crypto-exchange platform, as one might think, judging by its name and the vague information on its website. In fact, this is a binary options broker that offers trading in cryptocurrencies, but its offer is very unclear and we don’t recommend it. Read on to understand why.

 

 

Crypto Exchange Pro Advantages

 

Many cryptocurrencies available for trade

The only possible benefit of using Crypto Exchange Pro, is the rich digital assets portfolio of this broker. It offers trading in Bitcoin, Ethereum, Litecoin, Ripple, Dash, IOTA, EOS, OmiseGo, NEO, Bitcoin Cash, Qtum, Bitcoin Gold, Monero, Zcash, and more. These are being traded against USD, EUR, BTC and ETH.

 

 

Crypto Exchange Pro Disadvantages

 

Not regulated, FCA warning

The broker is pretty vague about what it does exactly, when it was established, and other background information. In the Privacy policy uploaded on Crypto Exchange Pro’s website it is stated that the broker is operated by Crypto Exchange Pro, Inc. Nothing more is mentioned about the company – headquarters, regulation, etc. We searched it in the web, but didn’t find anything, so we are not sure whether such company even exists.

 

Meanwhile, in the Risk disclosure statement on Crypto Exchange Pro’s website we read that ”These terms and conditions apply to all accounts controlled by Bitfinex”.

 

That being said, the logos of Bitfinex and another major crypto-exchange, Bitstamp, are present at the bottom of the home page of the broker’s website. Nonetheless, we doubt that Crypto Exchange Pro has anything to do with them.

 

However, most important of all is that Crypto Exchange Pro is not regulated and that the FCA has issued a warning against the brokerage, stating it is most likely a fraud and that interested traders should not trust it. 

 

 

Web-based oversimplified platform

As most binary options brokers, this one also offers its services on a web-based platform. The trading interface is easy to use, but lacks any analytics and advanced tools other platforms support. Here is a snapshot:

 

 

Click on the image to zoom in.

 

This platform is in fact not unknown to us. It seems that Blockchain Exchange Pro uses the same trading interface. Given the similar names of the two providers, and the fact that their websites are very much alike, this might be the two names of one and the same scam, so beware.

 

Payouts not that good

The payout offered by Crypto Exchange Pro is just 80% and that is below what is considered attractive, when betting with binary options brokers. Note that an attractive payout starts form 83% and above.

 

No information about the minimum deposit requirement

We were not able to find information about the minimum deposit required by the broker. Have in mind that with most brokers you can open a trading account with around $250 or less.

 

 

Conclusion

 

There is a serious lack of information on crucial aspects of what Crypto Exchange Pro offers – the nature of the services, the company behind it, its headquarters, regulation, etc. We had to register an account to find out that this is in fact a binary option broker focused on the crypto currency market.

 

Our most serious concern is that the FCA has issued a warning against the brokerage, as it is illegally targeting UK investors. We also have a major issue with their legitimacy, so you’d better not risk your hard-earned money with Crypto Exchange Pro.

 


>> Trade Bitcoin with a well regulated broker <<

 

 

To sum up the positive and negative sides of Crypto Exchange Pro:

 

Pros Cons
Many cryptocurrencies available for trade Not regulated, FCA warning
  Payouts not that good
  Oversimplified platform
  No info on the initial deposit required

 

Latest news about Crypto Exchange Pro
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Traders` reviews for Crypto Exchange Pro

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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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Summary

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legal

Has anyone sought or thinking of seeking legal advice on their situation.

paul 04/17/2019

contact

as anone been in cotact with the firm lately

paul 04/09/2019

contact

my account increased a couple of weeks ago but when i spoke to them yesterday i got a load of crap saying that this money was a different account and i still had not reached my 3 times the limit.This i why i have to pay a liquidity fee so they say but i have been trying to get bank details of them for 6 weeks and cant get them .
It would be good if someone else gave them a ring and try to understand what is going on. Has anyone talked to them about liquidating their account and is anyone seeking legal advice.
0203883 2150 is their number Alistair Crown or Peter Nicholls to speak to they seem to be in charge ,got to be careful if you wind them up they will just put the phone down

paul g 03/27/2019

CEP Activity

Likewise, Bruce, my account suddenly increased by several thousand pounds yesterday. This morning I received an email (from: [email protected]) saying they have tried to contact me several times about my account as a matter of urgency and would I forward my up-to-date contact number. They have my number so haven't tried very hard or even left a message, if they have indeed rung me .... from a number(s) I don't recognise as CEP. And, not surprisingly, their email does not give any contact number for them!
I hope miracles do happen as they have caused me some financial difficulty and embarrassment.

Don 03/27/2019

phone lines

their phone lines are open again

PAUL G 03/27/2019

Activity

I have had a couple of phone calls from someone saying they were going to sort the CEP platform out, recover lost monies and maybe lost profits. I see my account is showing a balance of £5000.00!!!.
I don't know where this money has come from and I suspect it will be just part of more skulduggery. I don't believe a word of what I was told but I'm told that miracles do happen.

Bruce Pickles 03/23/2019

website

Their website is back up
has anyone talked to them recently ?

PAUL G 03/15/2019

CEP scam

I can tell a similar story to what's already been said below.
Unbelievably, they were still 'trading' the small amount left in my account - presumably, to give the impression they are a bone-fide operation?? However, the site has now changed (in the last couple of days) from CEP to CryptoCoin.com so your log-in details will no longer work.

Don 03/08/2019

communication

If we are to try to catch these people we have to communicate with each other on here
Paul

paul g 03/04/2019

Communication

Is any one communicating with Crypto exchange at the moment?

Paul G 02/27/2019

Bank Account

Bruce,

Could you ask your bank if the account you paid the money into is still open?

Paul G 02/19/2019

Crypto Scam

I have passed all my information about Crypto Exchange Pro to Action Fraud(the police)and I hope that all others affected will have done the same. We have the account numbers and sort codes to which the monies were paid, and my bank, Nationwide has set up a fraud investigation.

I had to push my bank to agree to do this and I think we should all get together(I don't know how) to make a combined effort for action.

Bruce Pickles 02/16/2019

Crypto Exchange Pro withdrawal

I have tried to withdraw my funds after talking to the company, they say because my account is not 3 times the size i invested i am unable to do so. They quote i have agreed to this by signing up to their account and it is in the terms and conditions .I have looked on the website and it is in the risk disclosure part point 8 but i was not told about this when i joined.

Does this mean it is legally binding,any advice would be greatly appreciated.
Thanks

paul g 02/06/2019

Scammed by Crypto Exchange Pro

I am relieved to see that I was not the only one; although I am sad to say that we were clearly scammed. It seems, from the dates of the previous posts, that we all lost contact with our "financial advisors" around the same time. I had an account with the company for almost a year and received great gains every quarter. December 2018 is when I lost contact with Jordan Ballet, my "financial advisor". I am curious as to what countries every body is in... Seems to me that the company reached out to the US and I am curious as to how everyone heard of or was referred to the company. I was referred by a long time friend that we had a falling out about 2months ago on a bad business deal; therefore I have been unable to ask him about his account and/or last contact with anybody from CrytpoExchangePro. Cheers to us all learning an expensive lesson!

Mai Nguyen 01/30/2019

Scam - I have not been able to recover any of my lost funds

Hi Alan,

I have not been able to recover any of my lost funds but have given details and all names to the FCA and a full report to Action Fraud.

I have not heard anything from them so am continuing to investigate.
I am suspicious of Daisy Avery who disappeared from either Facebook or Linkedin when I tried to make contact She could be the Tracy Avery-Wright living in the Channel Isles.

Any spreading of the names which I included in my post of 23rd December might help to unearth something useful.

Bruce Pickles 01/28/2019

Crypto Exchange Pro seem to have disappeared - more news

I have been contacted by a firm claiming to be Titan Global Finance saying they have my funds held in escrow and they would send me the forms to get funds released. The phone call seemed quite professional but the paperwork which arrived quoting Titan Global Finance and a legitimate address and signed (allegedly)by their director.

I tracked the director down (he is a solicitor) and he confirmed the letters did not originate from Titan Global Finance (who are actually a PLC and bona fide organisation).

The letters contained an invoice for £750 and I expect a call asking for payment in the next day or so. Needless to say I am contacting the Fraud Squad etc. Just a warning to all!

Alan Jones 01/25/2019

Crypto Exchange Pro seem to have dissappeared

My experience is similar to others. £2500 was traded (apparently) from mid Sept to over £4k by end November and didcussed adding more funds with Adam Carter and how to withdraw funds. Was also told could only withdraw at end of quarter, which had never been mentioned before, So I did not invest more and surprise surprise between 1st an 10th december account showed trades reducing my balance to £23.50.

Fairly obviously trades shown to cover fact that my funds were stolen.
Avoid them at all costs a bunch of crooks

Alan Jones 01/16/2019

disaster

Hello Bruce

it would seem i am in the same boat as you ,was doing well upto end of November then December a disaster. Now i can't get hold of anyone the answering service was still there on Tuesday.

Did you get any of your money back and how long did you trade with them for?

paul g 01/12/2019

Boiler room scam

The scam which has been in operation under the name of Crypto Exchange Pro has a telephone answering service and the two females answering gave their names as Jemma Wood and Isabel Howard. I don't know if these are genuine but if anyone knows of them they could provide a link which the police could follow up.

Bruce Pickles 01/11/2019

Scam

Crypto Exchange Pro is registered at Companies House as Crypto Capital Exchange Ltd, reg. no. 11003640.

The main Director is Mr Bruce John Stuart Maclennan from St. Clears Farm,
Clapwater, Fletching, Uckfield, TN22 3YA.

Does anyone know this guy?

Bruce Pickles 01/05/2019

Crypto Exchange Pro Scam

Crypto Exchange Pro (CEP) is operating a scam. I have lost approximately eighty percent of money deposited with them
They have a very professional looking platform which I think has come from the US.
I was initially cold-called and persuaded to invest a small amount of money to give their system a try. It performed exceedingly well and this persuaded to make two more larger deposits with them because I was very happy with their performance in Binary Options trading in Crypto currencies.
I now believe that no actual trading was taken place but their site showed regular daily trades, some losing, some profitable, with an overall excellent performance. I think this was just to lure more clients into the scam, and at this point I invested more money.
Unfortunately, after my third deposit was made the fund started to go down hill and was quickly down to the level of my total investment. I rang my contact there, a Mr Adam Carter, and firstly asked him to close the account. He told me the account could only be closed at the end of the quarter. I said I was not happy but asked him not to place any more trades. He said that I had agreed to their terms which allowed them to continue to trade. I was shocked by this and a short while later asked for a copy of their Terms and Conditions. I was told by one of the traders that the T&Cs were at the bottom of their website and I should read them. I did this and found there was no clause allowing continuation of trading.
I rang Adam Carter about this and he told me that he would arrange to have their 'proper T&Cs' sent by email. When I read carefully the whole fourteen pages of them I could not find anything which allowed them to trade against my wishes, so I rang back to Adam Carter and was told that I should read their Risk Disclosure. I read this and found that they did in fact allow continuation of trading.
I found this absolutely ludicrous and sent an email saying that these would not stand up to scrutiny in court, but that I intended to take action against him personally and against the company.
At one point earlier, when I asked for their company registration number I was told they were registered via their 'accountant' and given the number 11003640. When I checked this with Companies House I found the main company director was a Mr. Bruce John Stuart Maclennan of Uckfield who has been a director of sixty six companies, thirty eight of which have been dissolved.
I think he will probably be known to the FCA and the police.
During my dealings with CEP I sent a number of emails to which I did not receive a reply, and this made me very suspicious. I could not get any answers to my questions about some of the figures in my account and was always told they were 'probably errors by the accounts department'.
The names below are of the various persons I have emailed or spoken to and need to find them, assuming the names given to me were genuine.
William Richardson, Adam Carter, Max Lockwood, David Thompson, Jordan Ballet, Charles Rose, James Bartram, and Daisy Avery and Veronica West in accounts.
The address of their premises is false and I suspect has just been used to give their operation some respectability.
On the morning of 18th December my account was reasonably healthy (about 90% of original deposit), but when I looked at it in the afternoon I saw that ten losing trades had been made within one hour, reducing my account dramatically. I suspect this was done to make me think the money had been lost on trades, but this was probably a cover for the fact that the money had been stolen.

Any help with this would be gratefully appreciated.

Bruce Pickles 12/23/2018
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