CryptoIFX online broker operating in England is considered a scam with a bad reputation.
When we go to the official website of CryptoIFX - Cryptoifx.org, we will find out that this organization offers brokerage services for operations in the Forex financial market in the UK. CryptoIFX also provides services for trading operations.
Our employees analyzed the CryptoIFX website, got acquainted with the terms of action, tried to get at least test access to the services, studied the existence of documents, the region where the company was registered.
With the help of the information received, we will find out: Is CryptoIFX a scam or not?
In addition, we will tell you how not to fall into the trap of scammers, about their work algorithms. We will provide you with all the information you need to keep your finances safe.
The CryptoIFX organization is located in an offshore country
The main signal that indicates that CryptoIFX are criminals is the region of registration. According to the documents, the company is registered in the Marshall Islands, which is already in doubt, since it operates in England. Offshore countries are popular with scammers due to the lack of laws and executive power.
In addition, this region does not have rights to work on the Forex financial market.
In addition, when our employees tried to find the physical address, data on the owners and management of Cryptoifx.org, they could not find anything.
This is already demonstrating that CryptoIFX is a fake online broker, working with which will result in big financial losses.
Lack of data on Cryptoifx.org management
After examining the website, our experts have not been able to find reliable information about the owners of the Cryptoifx.org organization. No physical address, no telephone or other means of contact.
This probably means that the actual leaders are trying to hide data about themselves in order to elude responsibility for actions. If you manage to contact one of the CryptoIFX managers, then everything will be over, and the real leaders of the criminal organization will remain at large.
CryptoIFX, official website - Cryptoifx.org, has been running for less than a month
The official website of Cryptoifx.org talks about serious experience in the Forex financial market.
The most common way to study any web site is to obtain information about the domain. Basically, they record the age of the domain, the contact details of its owner.
In this case, the CryptoIFX domain name is valid for less than thirty days, and all data about the legal or natural person that owns it is hidden. Another evidence that the owners of CryptoIFX are trying to preserve anonymity.
Such a desire can be understood, but not in those cases when it comes to a financial firm working as an intermediary between a trader and Forex.
At the same time, Cryptoifx.org themselves assure potential clients that they have been working effectively on Forex for many years.
Cryptoifx.org does not have a demo period
It is a common practice for Internet brokers to provide traders with a test version of their software so that they can familiarize themselves with the interface and try out their capabilities in trading on the Forex financial market with a fake currency.
Unfortunately, on the Cryptoifx.org website, we did not find any mention of a trial period, the ability to test the software.
Probably the organizers of the CryptoIFX organization most likely do not plan to provide users with demo access to their software, as someone is able to begin to suspect a scam.
Broker Cryptoifx.org operates with a negative balance
Legal firms that operate in the Forex market do not use a negative balance in their activities. According to the law, the client of an Internet broker cannot spend more than what is currently on the account. In cases where the balance goes negative, the debt must be repaid not by the client, but by the company that has provided its services.
In accordance with this, legal Internet brokers do not use a negative balance in their work.
And yet, Cryptoifx.org provides its traders with work with a negative balance, that is, in debt.
Why is this needed?
To drive a trader on credit and start extorting him to pay off the debt. This is one of the most popular methods of deception used by scammers.
In the event that this has already happened, it must be remembered that deceivers have no way to recover investments in accordance with UK law. All methods of influencing users are considered illegal. The most that scammers are able to do is call, send messages with demands.
It is impossible to cooperate with Cryptoifx.org, since all agreements will result in expenses.
CryptoIFX operate with leverage of 1 to 400 or more
Already, it is clear that CryptoIFX are bandits. However, let's pay attention to another nuance, namely the existence of too high leverage.
The credit ratio is the ratio of the funds of traders and brokers at the conclusion of a trading operation. Leverage allows you to conduct large transactions for clients who do not have access to a lot of money.
To protect Forex users, in civilized countries, the current laws require the use of leverage with the highest ratio of 1 to 30, in exceptional cases 50.
At the same time, CryptoIFX uses a leverage of 1 to four hundred to make money on the Forex financial market.
This ratio is allowed in Switzerland, as companies registered in this country enjoy considerable credibility. But CryptoIFX is not issued in this state.
In fact, CryptoIFX cannot operate in the Forex market with such leverage, due to the high risk to users. Accordingly, this is used only to force the trader not only to give away as much of his own finances as possible, but also to drag him into loans.
CryptoIFX local divisions
It is considered prestigious for a financial company to have local branches in civilized countries, even if the work is carried out exclusively in Britain. So CryptoIFX says that in addition to many awards, they have regional offices in England, Australia and other civilized regions, and in addition about many competent specialists.
Checking the existence of these offices is quite simple. Since there are specialized structures that control the activities of Internet brokers. In the UK it's FCA, in Australia it's ASIC.
Accordingly, the official company is obliged to have official papers from these or other structures that will confirm their right to provide Forex earnings services, regulate the degree of responsibility.
However, after analyzing the industry's official websites, we could not find them. Which once again reinforces the fears.
To register on Cryptoifx.org, you must transfer personal data
As we reported earlier, CryptoIFX does not have a trial period and because of this, in order to gain access, you must immediately pay the minimum deposit to CryptoIFX scammers. In addition, it is possible to create a Cryptoifx.org personal account only upon successful completion of user verification.
This means that CryptoIFX requires its users to provide information such as:
- Information about an individual (passport, etc.);
- Data on the permanent place of residence (scans of utility bills);
- Information about qualifications, place of work, experience.
In addition, during the initial transfer, fraudsters can gain access to bank account data.
As a result, this data may enable bandits to make a loan to a deceived trader, or to carry out other illegal operations.
Since for registration on the Cryptoifx.org website, it is necessary to transfer confidential data, our experts did not get access to the CryptoIFX personal account, as well as programs for transactions in the Forex financial market.
Reviews about CryptoIFX
A very important step in exposing CryptoIFX is the study of customer reviews.
A detailed analysis of the issue in search engines allowed us to obtain the following data:
- Most of the CryptoIFX reviews on the Internet are lies. These are similar positive reviews of a customized nature;
- All real reviews and mentions of CryptoIFX are bad. Our staff has not been able to find true testimonials and references from former users of Cryptoifx.org, which would talk about serious income, efficient trading.
- Negative reviews and mentions are caused by criminal acts, theft of finances, creation of debt.
Therefore, real reviews of CryptoIFX indicate that this Internet broker is a criminal.
Contact details and official papers of CryptoIFX
Analyzing information on Cryptoifx.org, our staff found many dubious digital documents that can be easily created using a graphic editor. They are not confirmed by official companies, 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 employees identified a phone number. It turned out that it had already been used by an illegal online 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 an online Forex broker? Make sure you can take money from him.
Having studied the user agreement on the CryptoIFX website, our specialists did not find any information available about the ways to withdraw the money earned. In addition, our experts found a mention of punishments for the lack of activity of a personal account, but there was no information about their amounts. Since the criminals do not work in the legal field, it will not be possible to challenge these fines.
That is, if a trader stops working with CryptoIFX, they can call and spam demanding to pay a fine.
How does CryptoIFX operate?
The client search method that CryptoIFX uses is also suspicious.
For promotion, fake accounts on social networks are used, in which non-existent people report how they instantly managed to make a profit by earning on Forex with the help of CryptoIFX. Bots display expensive cars and jewelry, trips to resorts, and other manifestations of a prosperous life.
They guarantee instant income, for which you do not need to learn or make a lot of effort.
When a user gets in touch with scammers, CryptoIFX managers confirm the possibility of instant income, and in addition, about the unique capabilities of their services, which will allow you to quickly earn a large income.
After that, various manipulations are used to get the maximum money from the trader. For example, you can create fake profits in order to motivate you to transfer more money.
If trading on the Forex financial market turns out to be negative, a representative of the organization will recommend investing more to cover losses.
CryptoIFX managers act according to the guidelines created by professional manipulators. Criminals study information about a trader in order to put pressure on vulnerabilities and get even more investment.
As a result, all this will lead to one of two options:
- When you decide to get finance before you find yourself in the red, you will draw fees, close the money invested, and will do everything to force you to transfer more;
- If you allow bandits to drive the balance into debt, threats will fall, scammers will demand to repay the fake loan.
Another way to earn income for CryptoIFX can be the transfer of your personal data to third parties. Most likely, after that, detailed information about you will be available for a small amount on some anonymous community on the dark web.
It is likely that after that all sorts of bandits, sales managers, etc. will start spamming you. It is also worth waiting for messages from CryptoIFX colleagues who will begin to offer a “return” of lost deposits, of course for a fee.
Since CryptoIFX does not operate in an official field and remains anonymous, Cryptoifx.org cannot be held liable under the law in England. The leaders of the criminal company are diligently hiding and in the best case, the legitimate authorities will be able to capture one of the "managers".
Can CryptoIFX be trusted?
In no case!
If you are going to give money to scammers, then it is better to give it to a good cause.
Let's briefly list the evidence indicating that CryptoIFX are bandits:
- No official registration;
- No demo period;
- Lack of information about the owners of the company;
- Phone number found in fraudulent transactions;
- Negative balance;
- Leverage greater than one in 50;
- Bad reviews;
- False information on the official website.
This completes the CryptoIFX review. Obviously CryptoIFX are scammers.