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CryptoPoint72 Review – Learn More About CryptoPoint72.Vc
Table of Content
CryptoPoint72 Review, wandering trader. It seems this fraudulent provider has established interaction with you and now you’re unsure whether to trust it. Worry not for we are here to debunk the awful lies stacked up on the bogus website of CryptoPoint72. Hence, we won’t stall the show any longer. Let’s start shredding.
|Regulation||Unregulated Scam Broker|
|Headquarters||UK & Australia|
|Broker Type||Forex, Indices, Commodities, Crypto|
Is CryptoPoint72 a Reliable Broker? Security and Regulation
Of course not. But, we owe you an explanation. Exposing this fraudster is easy as 123. Firstly, we shall cover the fake addresses of the alleged parent company – Cryptop72 LTD. The con artist posted a UK and an Australian address. However, the two states’ financial market regulators – the FCA & ASIC, have no data on the dubious entity.
Needless to say, our little trickster is indeed unregulated and fake, just like its website. Therefore, we are certain that the broker does not fulfill the conditions necessary for providers to operate in the two aforementioned countries.
When we say conditions, we mean a minimum operating capital of GBP 730,000 (UK) or AUD 1,000,000 (Australia), negative balance protection, a segregated bank account, and an indemnification clause (GBP 85,000) that covers clients in case the broker files for bankruptcy. In addition, unlicensed entities do not abide by strict leverage limits.
Trading Software Overview
CryptoPoint72 offers a rudimental web-based platform, which is typical for phony brokers. They often use cheap-looking trading software to deceive their victims into thinking that their money is really being invested.
While this elementary and lackluster platform can be good for beginners, it doesn’t offer the same level of functionality as the most popular software – MetaTrader 4, for example. However, we advise you not to trade with such a shady broker. It’s better to find a trustworthy provider that’s actually licensed.
Also, make sure you’re getting MetaTrader 4 (MT4) or MetaTrader 5 (MT5). These platforms have established themselves as the industry’s best due to a wide range of features and advanced tools, including a variety of options for customization, automated trading, live-market reports and backtesting trade strategies.
CryptoPoint72 Account Types
According to the unscrupulous broker, there are five different account types available:
- Starter – $2,500;
- Silver – $5,000;
- Gold – $10,000;
- Platinum – $25,000;
- VIP – $50,000.
The crooked scammer posted overinflated prices for each account – $2,500 just to start trading. That’s despicable. Moreover, we’ve noticed a discrepancy on the website – the T&C section says that the minimum deposit is actually $250. Who’s to trust here? If you ask us, we think that CryptoPoint72 will try to squeeze out as much as possible.
Trading Instruments You Can Trade
Allegedly, CryptoPoint72 offers the following trading assets:
- Forex pairs – EUR/USD, GBP/EUR, USD/CHF…
- Commodities – gold, silver, crude oil, coffee…
- Indices – S&P 500, Dow 30, Germany 30…
- Crypto – Bitcoin, Ethereum, Litecoin…
- Shares – Microsoft, Google, Apple…
Without an official license, trading these instruments is not safe at all. Thus, we don’t recommend you invest.
As for the trading conditions, we know that spreads are 2 pips for EUR/USD. Sorry, but that’s just too wide to bring in any profits. Commissions? A complete mystery. This lack of transparency is becoming increasingly alarming.
When it comes to the leverage, the platform displayed 1:200, well above the regulatory limit of 1:30. That’s what unregulated scammers do, we’re afraid. At such high leverage, there’s more chance you’ll lose than win.
Options for Deposit and Withdrawal
Brace yourself, we’ve arrived at the peak of the scam. This right here, folks, is the pinnacle of many controversial online schemes. Namely, we’re referring to crypto being the only available payment method. CryptoPoint72, as the name suggests, is no exception. Our malevolent fraudster accepts only Bitcoin as the payment method.
Yup, no credit cards, no wire transfers, no popular e-wallets such as Skrill & Neteller, only Bitcoin. If you’re wondering why the scammer decided to limit itself to just one payment tool, it’s probably because crypto transactions allow the financial swindler to remain anonymous and increase the chances of the scam being successful.
How Do I Get My Money Back If CryptoPoint72 Scams Me?
Not a fun place to be. We can only imagine the frustration that’s consuming you right now. However, there are two things we could do to make you feel better. First, we can report the scammer and prevent him from claiming more innocent victims.
Secondly, we can tell you how you can get a refund. Your chances may be slim, but we suggest you give it a shot. Crypto transactions can be traced to the wallet you’ve deposited funds within a crypto exchange. Once that’s done, you can request a refund from the exchange and hope for the best.
- CryptoPoint72 is a fraudulent and anonymous broker that lied about having offices in the UK and Australia;
- The provider is unlicensed and extremely dangerous;
- The available trading platform is nothing more than a simple WebTrader;
- There’s a discrepancy regarding the minimum deposit – the broker posted two amounts – $250 and $2,500;
- Bitcoin is the only acceptable funding method with CryptoPoint72.
FAQs About CryptoPoint72 Broker
What is CryptoPoint72 Minimum Deposit?
The fraudulent broker mentions two amounts - $250 and $2,500. We aren’t sure which one is correct.
Does CryptoPoint72 Offer a Demo Account?
CryptoPoint72 does not offer a demo account because it’s an unregulated broker.
What Types of Accounts Do CryptoPoint72 Offer?
CryptoPoint72 claims to offer a starter, silver, gold, platinum and VIP account.