Cryptogo365 Review: Scam Activities of Cryptogo365.Com
What is Cryptogo365? Is it just another of those common trading scams? This may not be that far from the truth as it is not regulated.
Minding the shady details about the broker, such as its malicious legal papers and the fact it is not willing to open an account without a reference, all point to an investment scam!
A regulated broker would never expose their investors to such a hideous set of trading conditions as well. Hang tight, as this Cryptogo365 review will reveal why you should stay away from this firm at all costs.
Also, we recommend you not invest in the fraudulent brokers StonewallFX, CMTPRO, and Bitech Max.
|Leverage||up to 1:400 leverage|
|Headquarters||St. Vincent and the Grenadines|
Is Cryptogo365 a Safe Broker? Regulation and Security
Cryptogo365 is a questionable broker operating from the unsupervised shores of St. Vincent and the Grenadines.
Some people might think that this Caribbean nation is a hub for forex traders, but the truth is far from it. Unless the firm is licensed by another reliable authority or has ties to a reputable business, it’s best to steer clear of these bogus brokers.
With no regulatory oversight in place, these firms often engage in malicious practices, putting your investments at risk. On top of that, with no security from the unpredictable market, your chances of success with any St. Vincent-based broker are slim to none.
On the other hand, choosing a broker licensed by a reputable regulatory body offers peace of mind and security for your money. So, make the right decision and stick with brokers that are backed by robust regulations.
Cryptogo365 Trading Platforms
CryptoGo365 promises to deliver a cutting-edge trading platform accessible through the app on Android and iOS.
However, their grand vision was only a mirage. Many people were unable to explore the platform’s potential. This was due to the company’s restrictive policy that required a referral code to open an account.
This red flag tactic is a hallmark of shady operators. It allows them to cherry-pick their clients while avoiding scrutiny from regulators and the public eye. Unlike these scammers, trustworthy brokers are proud of their services. Moreover, they showcase their capabilities through demo accounts.
Don’t be lured by CryptoGo365’s false promises. Always opt for a reputable broker that offers the widely adopted MetaTrader 4 or MetaTrader 5. These platforms have proven to be the go-to choice for savvy traders.
Cryptogo365 Account Types Offered
This broker raises eyebrows with its selection of five seemingly identical account options: Rookie at a measly $250, Basic requiring $2,500, Elite with a hefty $10,000 deposit, Elite Plus with an eye-watering $25,000, and the mysterious VIP, only available upon request.
Upon closer inspection, the account overview appears to offer no real benefits for higher investment. This leaves people in the dark if any of the extra value exists.
Trading Instruments Available at Cryptogo365
Let’s dive into the trading offerings of this questionable broker. The broker offers a limited selection of financial instruments for traders to choose from.
This includes currency pairs such as EUR/USD and GBP/USD, commodities like gold, oil, and silver, indices like NASDAQ, shares in tech giants like Amazon, Tesla, and Google, and finally, popular crypto assets like BTC, ETH, and XRP.
Cryptogo365 Deposits and Withdrawals
Sad to say, but due to CryptoGo365’s strict account setup policy, you cannot get a glimpse into the available payment methods for deposits. Still, it’s probably best to steer clear of this broker altogether. Their tendency to restrict withdrawal requests on certain accounts without explanation is a red flag you don’t want to ignore.
After all, CryptoGo365’s non-trading fees are confusing and erratic. They impose quotas for each account type, and if you don’t meet those quotas, you could face more charges. Also, if that wasn’t enough, they even have the audacity to charge inactivity fees of unknown size.
After just a month of no trading activity, they’ll presume that you want to close your account. They’ll initiate the termination process without any prior notice, even if they can’t reach you via phone or email. The unpredictability and lack of transparency of this broker are truly concerning.
How Do Fraudulent Offshore Brokers Work?
Fake brokers are all around us. These offshore firms are a constant threat to unsuspecting investors and traders. That is a fact! These rogue brokers often operate in countries with loose regulations. Moreover, they hide behind a veil of anonymity to dupe their victims.
They lure in trustful traders with false promises of high returns, hidden fees, and manipulative tactics. Once they have your money, they often become difficult to contact.
After all, they can disappear with your funds, leaving you with no recourse. It’s essential to be vigilant and thoroughly research any broker before investing your money. This is the unwritten rule.
Best Forex Trading Firms
Let’s take a closer look at some of the top forex brokers out there! With a sea of options available, it can be difficult to choose the right one for you. But fear not, we’ve compiled a table that showcases some of the best brokers on the market.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
The purpose of this article is to encourage those who have been scammed by CryptoGo365 to seek help.
All we want is to inform the public and offer a solution for those who have fallen victim to scammy activities by CryptoGo365 or similar brokers. Make sure to use only licensed brokers. This will save you many troubles.
FAQs About Cryptogo365 Broker
Is Cryptogo365 a Regulated Entity?
Given that the broker is suspected of fraudulent activities, it is likely that they are operating outside of any regulatory oversight.
Does Cryptogo365 Provide a Practice Account?
It is unknown if CryptoGo365 offers a demo account as the broker did not allow us to open an account. Legit brokers often provide demo accounts.
What is Cryptogo365's Minimum Deposit Requirement?
Apparently, the minimum deposit amount is set to $250. Given the suspicious nature of this broker, it is advisable to steer clear of them.