The CryptoIFX online broker operating in the UK is considered a scammer with a tarnished reputation.Paul Roberts 29 / April / 22 Visitors: 59
When we get to the official website of CryptoIFX - Cryptoifx.org, we will find out that our company provides brokerage services for working on the Forex financial market in Britain. CryptoIFX also provides software for financial transactions.
Our experts explored the official website of CryptoIFX, got acquainted with the working conditions, tried to get test access to the services, studied the availability of official documents, the place of registration of the company.
With the help of the information received, we will find out: Is CryptoIFX a scam or not?
In addition, we will explain to you how not to fall for the hook of scammers, about their ways of working. We will give you all the necessary data in order to keep your money safe.
CryptoIFX firm based in offshore country
The first signal that indicates that CryptoIFX are criminals is the state of registration. The organization is officially registered in the Republic of the Marshall Islands, which is already suspicious, since Cryptoifx.org operates in Britain. Offshore states are popular with deceivers due to the lack of legislation and executive power.
In addition, this state does not have permits for trading in the Forex market.
Moreover, when our employees tried to identify the physical address, mentions of the owners and management of Cryptoifx.org, they could not find anything.
Such a demonstration that Cryptoifx.org is a fake online broker, interaction with which will result in significant financial losses.
Could not find information about the organizers of Cryptoifx.org
After examining the website, our employees could not find reliable information about the organizers of the CryptoIFX company. No addresses, no phone numbers or other methods to get in touch.
Usually, this means that the actual owners are trying to hide information about themselves in order to elude responsibility for actions. Even if it turns out to identify one of the CryptoIFX employees, then everything will end there, and the actual owners of the shadow company will remain at large with money.
CryptoIFX, website - Cryptoifx.org, has been around for less than a month
The CryptoIFX website talks about a lot of experience in the Forex market.
The main way to study a website is to get data about its domain name. Basically, they record the age of the existence of a domain name, information for contacting the owner.
In our case, the Cryptoifx.org domain has been operating for less than one month, and information about the legal or natural person owning it is hidden. Another evidence that the CryptoIFX management is trying to protect its incognito.
This desire can be accepted, but not when it comes to an organization that works as an intermediary between the user and the Forex market.
At the same time, CryptoIFX assure their users that they have been working effectively on Forex for many years.
Cryptoifx.org does not have a trial period
It is a normal practice for Internet brokers to provide clients with a demo version of the software so that they can get acquainted with the interface, try their hand at Forex operations with fake currencies.
Unfortunately, on the CryptoIFX website, we could not find any mention of a demo period, an opportunity to try out the software.
We assume that the Cryptoifx.org management is most likely not going to give customers demo access to the software, since some of them are able to suspect fraud.
Online broker Cryptoifx.org operates with a negative score
Official companies that operate in Forex do not use a negative account in their work. In accordance with the laws, the user of an Internet broker is not able to spend more now is on his balance. In rare cases, when the account still goes into negative territory, the loan must be repaid not by the client, but by the organization that offered its services.
Therefore, official brokers do not use a negative balance in their activities.
However, CryptoIFX gives traders a job with a negative balance, that is, in debt.
Why is this needed?
In order to drive a trader on credit and demand a loan from him. This is one of the most commonly used methods of deception used by bandits.
If this happened, you need to know that criminals have no way to get money under British law. Absolutely all methods of pressure on customers are illegal. The most that scammers are able to do is call, send threatening letters.
You cannot work with Cryptoifx.org, as any agreements will result in new losses.
Cryptoifx.org operate with a leverage of 1 to 400 or more
At this point, it's clear that CryptoIFX are scammers. However, let's pay attention to another fact, namely the existence of too high leverage.
The credit ratio is the ratio of funds of users and online brokers when making a trading operation. Leverage allows you to conduct significant transactions for clients who do not have large amounts of money with them.
In order to protect Forex users, in civilized states the laws require the use of a credit ratio with the highest ratio of 1 to 30, in exceptional cases 50.
At the same time, CryptoIFX uses a leverage of 1 to 400 to make money on the Forex market.
Such an attitude is allowed in Switzerland, since organizations registered in this state enjoy high confidence. However, CryptoIFX is not issued in this country.
In fact, CryptoIFX cannot operate in the Forex market with such a credit ratio, due to the high risk to users. Accordingly, this is used in order to force the client to invest more of his own finances, but also to drag him into loans.
CryptoIFX Local Offices
It is considered important for a company to have regional offices in developed countries, even if its activities are carried out exclusively in the UK. Therefore, CryptoIFX talks about the fact that in addition to many awards, there are local divisions in the UK, Australia and other civilized countries, and in addition about many qualified employees.
Checking the existence of these offices is elementary. After all, there are specialized organizations that regulate the work of Internet brokers. In Britain it is FCA, and for example Australia it is ASIC.
Because of this, a law-abiding company must have permits from data or other structures that confirm their right to provide Forex trading services, determine the level of responsibility.
However, having studied industry official websites, our experts did not find them. Which once again confirms the fears.
To register on Cryptoifx.org, you must transfer personal data
As we reported earlier, CryptoIFX does not have a demo period and therefore, in order to gain access, you must immediately pay the CryptoIFX bandits a minimum deposit. Also, getting access to the Cryptoifx.org personal account is possible only upon successful completion of the client confirmation.
This means that CryptoIFX requires users to transfer data such as:
- Information about an individual (passport, birth certificate);
- Information about the permanent place of residence (receipt for utilities);
- Information about the place of work, qualifications, experience.
In addition, during the initial transfer, fraudsters are able to gain access to personal account data.
As a result, this information may allow fraudsters to make a loan to a deceived client, or to carry out other criminal frauds.
Since for registration on the official website of Cryptoifx.org, you need to send your personal data, our employees were never able to get access to the CryptoIFX personal account as well as applications for making money on the Forex financial market.
Real reviews about CryptoIFX
An important point of exposing CryptoIFX is to study user reviews.
A detailed analysis of the search results on the Internet gave the following information:
- Most of the reviews and mentions of CryptoIFX on the Internet are fake. These are similar positive mentions of the paid type;
- All real reviews of CryptoIFX are bad. Our experts could not identify reliable reviews and comments from former users of Cryptoifx.org, which would talk about big earnings, productive activities.
- Negative reviews and mentions are caused by illegal activities, theft of deposits, special creation of debt.
Therefore, real reviews about CryptoIFX say that this online broker is a criminal.
Contact information and documents CryptoIFX
Analyzing the information on Cryptoifx.org, we saw a lot of dubious digital official papers that can be easily done with the help of a graphic editor. They are not confirmed by official firms, which means they cannot be trusted.
If an online broker is not associated with regulatory companies, then clients simply have nowhere to turn for help.
On the "Contacts" page, our experts saw a phone number. It turned out that it had already been used by an illegal Internet broker. There are also many reviews on the net about fraudulent activities associated with the phone number listed on Cryptoifx.org.
Withdrawing money from Cryptoifx.org
Are you going to make money with the financial market Forex online broker? Make sure you can take money from him.
After analyzing the client agreement on the CryptoIFX website, we did not find clear information about the ways to withdraw the money earned. At the same time, we identified a description of penalties for prolonged account inactivity, but did not find data on the amounts. Since swindlers do not work in the legal field, it will not be possible to cancel these requisitions.
That is, even if a trader stops working with CryptoIFX, he can be disturbed by calls and sent messages demanding to pay a fine.
How does CryptoIFX operate?
The user search method that CryptoIFX uses also raises concerns.
Fake social media accounts are used for advertising, in which fake bloggers spread information about how they quickly managed to get rich by trading Forex through CryptoIFX. Bots show expensive cars and clothes, vacations in resorts and other signs of a rich life.
They guarantee a rapid income, for which you do not need to learn or put a lot of effort.
If a trader gets in touch with them, CryptoIFX managers talk about the possibility of instant income, and also about the unique abilities of their programs, which will make it possible to quickly withdraw large profits.
After that, various tricks are used that make it possible to get as much money from the trader as possible. For example, you may be given fake profits to inspire you to give away more money.
When the work on the Forex financial market is negative, the representative of the organization will recommend transferring more to compensate for the negative.
CryptoIFX employees act according to algorithms developed by experienced scammers. They study client data in order to influence specific places, lure more deposits.
One way or another, all this will lead to one of two results:
- If you decide to get an investment before you find yourself in loans, you will be fined, your balance will be closed, and everything will be done to force you to transfer more;
- When you allow the criminals to drive the account into debt, threats will begin, the bandits will begin to extort to pay off the fake debt.
An additional method to earn money for CryptoIFX can be the sale of your personal information to third parties. We think that after that, it will be possible to buy detailed information about you for a small amount of money on some anonymous service on the shadow Internet.
Most likely, after that, all sorts of bandits, sales managers, etc. will begin to call you more often. You should also wait for calls from CryptoIFX accomplices who will offer a “return” of lost money, of course for a bounty.
Since CryptoIFX does not operate in a regulated field and remains anonymous, Cryptoifx.org cannot be forced to comply with current laws in England. The organizers of the fraudulent organization are skillfully hiding and, at best, the police will be able to figure out one of the "workers".
Should I trust CryptoIFX?
If you plan to give money to scammers, then it is better to transfer it to charity.
Let us briefly state the facts indicating that CryptoIFX are scammers:
- No official registration;
- No demo period;
- Lack of information about the owners of the organization;
- Phone number identified in fraudulent transactions;
- Negative score;
- Leverage greater than one to 50;
- Bad reviews;
- False information on the website.
Our CryptoIFX review is complete. Clearly, CryptoIFX are scammers.
Paul Roberts 51 years old Born in Edinburgh. Married. Studied at University of Oxford, Department of Public Policy and Social Work. Graduated in 1997. Works at Standard Life Aberdeen plc.