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Crypto SFS Review - is it scam or safe?

Crypto SFS Review - is crypto-sfs.com scam or good forex broker?

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

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Trading Accounts and Conditions

 

Trading account Min. deposit  Max. leverage Spread
Standard  $500 1:100 3 pips

  

Crypto Smart Financial Services (Crypto SFS) is an Estonian CFD provider that places a focus on cryptocurrencies, but hasn’t made clear any of its trading conditions.

 

Nonetheless, what bothers us more with regards to this brokerage is the fact that it is not regulated. Below, you can find detailed information on Crypto SFS’s trading offer, corporate and regulatory situation and decide for yourselves whether it’s safe to investing with this broker.

 

 

Crypto SFS Advantages

 

Various CFDs, many digital assets available

The availability of various tradeable assets is always welcomed, as investors are able to diversify their portfolios. Crypto SFS covers different asset classes, including forex, as well as stocks, indices, commodities, and wide range of cryptocurrencies in the form of Contracts for Difference (CFDs).

 

Platform not bad, solid leverage ratios

The web-based platform used by Crypto SFS also seems good – it is simple, but yet offers nice charting functionalities: numerous time frames and a lot of technical analysis indicators.

 

Besides, the broker provides leverage of up to 1:100 on forex, and 1:25 on BTC trades. These are solid ratios that will suit most trading strategies.

 

 

Crypto SFS Disadvantages

 

Not licensed, regulatory warning against it

 

 
Click on the image to zoom in.
  

According to their presentation, Crypto SFS is owned and operated by Smart Financial Services Ltd., a company allegedly registered in Estonia. However, the company is not licensed by the local Finantsinspektsioon or the Estonian Financial Supervision Authority (EFSA), as all CFD providers in the country should.

 

Keep in mind that if you deal with an unregulated broker, the safety of your investment depends solely on the integrity of the people who operate those companies. As a matter of fact, most such brokers are involved in some sort of investment scams, and it seems that this is exactly the case with Crypto SFS.

 

As you can see from the above image, the broker has been added to the warning list of Belgium’s Financial Services and Markets Authority (FSMA) as a potential cryptocurrency fraudster.

 

Click on the image to zoom in.

 

Unclear about its services, trading conditions unclear

As was mentioned above, the website of this broker doesn’t contain any relevant trading information, such as reference spreads, leverage ratios provided, transfer fees, etc. Some users might even think they’re dealing with a cryptocurrency exchange, instead of a forex broker.

 

Crypto SFS does not offer any test-drive of the trading platform either, so we had to open a real account in order to be able to sneak peek into its platform and figure out some trading specifics. This leads us to the next two points.

 

No Metatrader, high spreads

As it already became clear, Crypto SFS uses some web-based trading platform that is rather nice. Yet, there’s hardly a room for comparison with the good old MetaTrader4 (MT4), which has proved its reliability and convenience over the years. Most traders are used to it and enjoy using its analytics, and Expert Advisors.

 

 

>> Trade with a MetaTrader 4 broker instead <<

 

 

We should also note that when we logged into Crypto SFS’s platform, we found the benchmark EUR/USD spread floating around 3.0 pips which is more than two times higher than the average in the sector. 

 

 

Click to zoom in.

 

 

>> Compare the spreads of top forex brokers <<

 

 

Conclusion

 

Crypto Smart Financial Services (Crypto SFS) is an Estonian cryptocurrency CFD broker with very low credibility. It’s not clear about its services, nor licensed properly, but illegally targets European investors. This hasn’t gone unnoticed by Belgium’s financial watchdog.

 

Our best advice for those of you who are into Bitcoin and other cryptocurrencies is to trade them only on regulated exchanges or with licensed forex brokers in the form of CFDs.


 

>> Trade Bitcoin with a well regulated broker <<

 

 

To sum up our impression of Crypto SFS:

 

Pros Cons
Various CFDs, many digital assets available Not licensed, regulatory warning against it
Platform not bad, solid leverage ratios Trading conditions unclear
  No MetaTrader
  High spreads

 

Latest news about Crypto SFS
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Traders` reviews for Crypto SFS

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Deposit/Withdraw

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