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CryptoBO Review - is it scam or safe?

CryptoBO Review - is cryptobo.com scam or good binary options broker?

RATING: 0 / 0 REVIEWS
CryptoBO is not regulated. We cannot guarantee your money is safe.

Trading Accounts & Conditions

 

Minimum deposit Expiry Times Payout % Regulation
$1 1 sec. to 15 min Up to 87% None

 

CryptoBO claims to the first binary options broker in the world that offers trading in cryptocurrency pairs. We doubt it is really the first, as its services were launched in mid-2017. We have reviewed a couple of binary options brokers and at least one of them, STS Capital, has been operating longer.

 

Nonetheless, CryptoBO offers seemingly attractive trading conditions. The problem is, potential clients have no clarity on the company behind the brand, its headquarters, etc.

 

 

CryptoBO Advantages:

 

High payouts

The payout percentage at CryptoBO varies, depending on the instrument traded, but reach 87% on the most liquid forex pair, EUR/USD. The payout on the most popular crypto pair, on the other hand, also seems really good, reaching 80% on BTC/USD. The broker’s website even brags about a payout of 91% on its website, but we didn’t see such in their platform.

 

Solid choice of assets

The broker offers trading in some of the most popular coins – Bitcoin, Ethereum, Riple, Monero, Litecoin, Zcash, which can be traded against some of the most popular fiat currencies – USD, JPY, RUB, EUR – as well as against each other.

 

CryptoBO places a clear focus on cryptocurrencies, but also offers more traditional trading instruments, such as forex, commodities, some indices and stocks.

 

Nice platform

The trading platform of CryptoBO leaves a good overall impression. As most binary options brokers, this one also offers a web-based trading interface that is intuitive and easy to use. There are several technical analysis indicators and the charts have different layouts and time frames. Here is a snapshot:

 

 

CryptoBO’s web trading platform. click to zoom in.

 

No initial deposit, 500 satoshi bonus

 

This broker has set no minimum initial deposit requirement, so you can start with a small investment and risk less. Besides, CryptoBO promises 500 satoshi to each new registrant.

 

Anonymous trading

Another peculiarity of this broker which might seem attractive is the fact that you don’t have to prove your address or verify your identity. Only e-mail is required for sign-in. 

 

 

CryptoBO Disadvantages:

 

No information on the company 

website is completely anonymous. There is no company name behind it, there is no address, not even a contact telephone number. All that makes us very suspicious about the whole enterprise.

 

While most binary options brokers are not regulated, most of them at least mention a company name, an address, and a phone number. Here we should note that most unregulated companies, offering financial or brokerage services on the forex or the crypto market are simply running scams. That is why we strongly advise you to invest anonymous brokers like CryptoBO. 

 

Most traders will do better if they start out with longer term options which last a few hours or days.

 

Negative user reviews

As we did our due diligence research on CryptoBO, we stumbled upon a number of negativeuser reviews. Most of the people complain of price manipulation or simply say that this broker is a hoax.

 

Some of the alleged clients of CryptoBO say that at first the system allows some winning trades to get you hooked, after which the price changes against you the last fraction of second, so that you lose by a few cents, and then goes back to its regular trend. Some users say that they keep the MT4 open to compare price movements and claim there are some inconsistencies.

 

No long-term options

CryptoBO offers trading in options that are mostly short term:

-Turbo options – from 1 to 10 min;

-Pro options – 15 min expiry.

 

Minimum withdrawal amount

Although this broker does not require a specific initial investment, it has set a minimum initial withdrawal amount investment of 0.002 BTC. While this is not much, it still leaves a bad impression.

 

 

Conclusion

 

CryptoBO appears like yet another a hot offer on the crypto market that is completely anonymous and therefore not recommended. No matter what payouts or bonuses it offers, it is simply not worth it. Why waste your time and Bitcoins on some dubious service provider, when there are a number of regulated brokers that offer trading in cryptocurrencies? There are even some reputable and licensed crypto exchanges which are a far better option than CryptoBO.

 

 

>> Regulated forex brokers offering Bitcoin trades <<

 

 

To sum up the above:

 

Pros Cons
Seemingly high payouts No information on the company
Solid choice of trading instruments Negative user reviews
Nice platform No long-term options
No initial deposit required, bonus offered Minimum withdrawal amount
Anonymous trading  

 

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Traders` reviews for CryptoBO

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