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TheCryptoLimited Review - is it scam or safe?

TheCryptoLimited Review - is thecryptolimited.com scam or good crypto broker?

RATING: 1 / 1 REVIEWS ForexBrokerz TheCryptoLimited
TheCryptoLimited is not regulated. We cannot guarantee your money is safe.

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Trading Accounts and Conditions

    

Account type Min. Deposit Min. bet size Payout
Standard  $50k (?) $25 Up to 81%

 

TheCryptoLimited is a financial services provider whose website is not very informative, but it appears to actually offer trading in binary options on cryptocurrencies, as well as other assets, such as forex, indices, stocks, etc.

 

The broker offers 4 account types, but we didn’t find any significant differences between them.

 

 

Click on the image to zoom in.

 

Besides, we believe that the minimum investment of $50,000 required for each of them is some sort of a mistake.

 

 

TheCryptoLimited Advantages

 

No significant disadvantages

 

 

TheCryptoLimited Disadvantages

 

Not regulated

There are far too many uncertainties regarding this broker, which is always a worrisome sign in the world of trading. That being said, the most disturbing among them is the limited and misleading corporate information provided on the broker’s website. The latter features two company names:  TheCryptoLimited Ltd. and UK based Crypto Consultancy Ltd. It is not clear which of the two is operating the brand, there is no further information on any of the firms (other than an address and a contact number of the UK entity), and no mention whatsoever of financial regulation.

 

Another thing we find confusing is that the broker’s website mentions a brand name, other than TheCryptoLimited - CryptoFxPro.

 

Unclear corporate situation and lack of financial regulation is a serious red flag, as this means that clients of this broker have no assurance for the security of their funds and no one to turn to, in case something goes wrong.

 

AMF warning against it

Another clear-cut sign of trouble regarding TheCryptoLimited is that the French financial regulator, the AMF, has included it in its warning list. More specifically, the AMF stated that its website offers unauthorized online investment services in cryptocurrency derivatives in France.

 

Obviously, the broker targets EU investors, and this is currently illegal. The European Securities and Markets Authority (ESMA) has banned the marketing, distribution or sale of binary options to retail clients last year because of investor protection concerns.

 

Trading conditions not fully disclosed, no demo

The uncertainty regarding TheCryptoLimited also spreads to the brokers trading conditions and platform. While the broker’s website mentions offering forex trades and providing some leverage, there are no reference spreads, nor any leverage levels specified.

 

Furthermore, the broker has not even mentioned what trading platform it uses, nor does it provide some sort of access to it. TheCryptoLimited does not seem to offer free demo accounts, which is yet another red flag, and even after signing up, we didn’t get access to any trading interface.

 

Also, it is not clear what are the payment methods this broker accepts, nor what initial investment it requires. As we already mentioned, we believe that the initial deposit of $50k mentioned on its website is an error. Most forex and binary options providers ask for $100 - $250 as a start.

 

 

Conclusion

 

TheCryptoLimited appears to be a binary options broker focusing on cryptocurrencies, targeting mainly European investors. Its corporate status and trading conditions are very unclear, and the broker is not licensed, nor overseen by any financial authority. Considering the above, and the fact that the French financial watchdog has blacklisted it, it is very probable that TheCryptoLimited is one of the many investment scams on forex and cryptocurrency market.

 

If you are keen on trading Bitcoin and other digital assets, we would advise you to select a broker from the list below.

 

 

>> Trade Bitcoin with a reliable forex broker <<

 

 

To sum up our review on TheCryptoLimited in a few words:

 

Pros Cons
Not any Not regulated
  AMF warning against it
  Poor presentation
  No demo accounts

 

Latest news about TheCryptoLimited
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Traders` reviews for TheCryptoLimited

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