Broker CryptoIFX, operating in England, is considered a scam with a corrupt reputation.
When we get to the official website of CryptoIFX - Cryptoifx.org, we learn that the company under study offers intermediary services for operations in the Forex financial market in the UK. In addition, CryptoIFX provides services for trading operations.
Our employees studied the official website of CryptoIFX, got acquainted with the working conditions, tried to get test access to the services, analyzed the availability of 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 get hooked by criminals, about their methods of action. We will tell you all the necessary data to keep your investments safe.
CryptoIFX is based in an offshore country
The main sign that CryptoIFX is a scam is the state of registration. According to the documents, the company is registered in the Republic of the Marshall Islands, which is already suspicious, since the company operates in Britain. Offshore states attract the attention of scammers due to the absence of the need to comply with the law and supervision.
In addition, this country does not have the rights to operate in the Forex financial market.
In addition, when we tried to detect the address, mentions of the owners and management of CryptoIFX, we failed to reveal anything.
This already hints that CryptoIFX is an illegal online broker, interaction with which can result in large financial losses.
Could not find information about the Cryptoifx.org leadership
Having studied the website, our experts have not been able to identify the truthful data about the directors of the CryptoIFX organization. No addresses, no phone numbers or other means of communication.
As a rule, this means that real leaders try to hide data about themselves in order to avoid answering for crimes. And even if you manage to expose one of the employees of CryptoIFX, then this will all end, and the actual directors of the criminal firm will remain at large with money.
CryptoIFX, official site - Cryptoifx.org, is less than 30 days old
The Cryptoifx.org website talks about the extensive experience of Forex operations.
The main method of studying the official site is to obtain data about its domain. Most often, they contain the validity period of the domain, information for contacting its owner.
In a particular case, the Cryptoifx.org domain name has been operating for less than thirty days, and the information about the legal entity that owns it is hidden. Another evidence that the director of CryptoIFX is trying to protect his incognito.
This desire can be accepted, but not when it comes to a financial firm acting as an intermediary between the user and the Forex financial market.
At the same time, Cryptoifx.org itself assures potential clients that they have been effectively operating in Forex for many years.
CryptoIFX has no trial period
It is normal practice for brokers to give traders a demo version of the services so that they get acquainted with the interface, try the opportunities in trading on the Forex financial market with virtual currency.
Unfortunately, on the CryptoIFX website, we did not find any mention of a trial period, an opportunity to test the software.
Probably the owners of the Cryptoifx.org company simply do not plan to give users test access to paid software, as one of them is able to suspect fraud.
Cryptoifx.org Online Broker Operates With Negative Score
Registered companies that operate in the Forex market do not apply a negative balance in their activities. By law, the user of an Internet broker cannot spend more now is on the balance sheet. In those cases when the balance still goes into negative territory, it is not the client who is obliged to pay off his debts, but the company that provided its services.
Therefore, legal brokers do not use a negative account in their activities.
And yet, CryptoIFX provides traders with a negative account, that is, in debt.
Why is it necessary?
To drive a trader into a loan and start extorting to repay the loan. This is one of the most common scams used by scammers.
If this happens, you need to remember that scammers have no way to get finance in accordance with the laws of England. All methods of pressure on traders are considered illegal. The maximum that criminals are capable of is calling, sending messages with threats.
It is impossible to work with Cryptoifx.org, as the agreements will turn into new losses.
Cryptoifx.org operates with a leverage of one to 400 or more
Already now, it is clear that CryptoIFX are bandits. And yet, let's point out one more fact, namely the presence of an extremely high leverage.
The credit ratio is the ratio of the finances of traders and online brokers when making a transaction. Leverage makes it possible to make significant transactions for clients who do not have access to the appropriate finance.
In order to protect Forex traders, in developed countries, the legislation requires the use of leverage with the highest ratio of one to 30, in exceptional cases 50.
At the same time, CryptoIFX uses a leverage of 1 to four hundred for trading on the Forex market.
This attitude is legalized in Switzerland, as companies registered in this country enjoy considerable confidence. However, CryptoIFX is not issued in this country.
In fact, CryptoIFX is not allowed to operate in the Forex financial market with such leverage, due to the high risk for clients. Accordingly, this is only used to force the client not only to transfer as much money as possible, but also to drive him into debt.
CryptoIFX Local Offices
It is considered solid for a company to have local offices in developed countries, even if the activity takes place only in England. Therefore, CryptoIFX talks about the fact that in addition to an impressive number of awards, they have regional branches in England, Australia and other civilized countries, and also about thousands of competent specialists.
Checking the reality of these offices is quite simple. Since specialized organizations are known that regulate the work of online brokers. In the UK, this is FCA, and for example, Australia - ASIC.
Therefore, the official company is obliged to have permits from these or other organizations that will prove their authorized right to provide services for making money on the Forex market, to regulate the level of responsibility.
And yet, after analyzing the profile web sites, our experts could not find them. This once again reinforces the fears.
Registration on Cryptoifx.org requires the transfer of confidential data
As we mentioned earlier, CryptoIFX does not have a trial period and, accordingly, in order to gain access, you must immediately pay the minimum payment to CryptoIFX scammers. In addition, access to the Cryptoifx.org personal account is possible only upon successful completion of the client confirmation.
This means that CryptoIFX requires clients to transfer data such as:
- Information about an individual (passport, etc.);
- Information about the permanent place of residence (payments for a communal apartment);
- Information about the place of work, qualifications, experience.
In addition, with the first payment, scammers are able to access bank account information.
In combination, this information can enable scammers to issue a loan to a deceived client, or carry out other illegal actions.
Since registration on the official Cryptoifx.org website requires sending confidential data, our specialists have not been able to get access to the CryptoIFX personal account and applications for Forex transactions.
Reviews about CryptoIFX
A very important point of exposing CryptoIFX is the study of user reviews.
A careful study of the search results on the Internet gave us the following information:
- Most of the CryptoIFX reviews on the net are false. These are template positive reviews of the paid type;
- All truthful mentions and comments about CryptoIFX are bad. Our employees could not find reviews and mentions from users of Cryptoifx.org, which mention big earnings, successful work.
- Negative reviews are caused by illegal activities, theft of finances, special creation of credit.
Because of this, CryptoIFX reviews suggest that this internet broker is a scam.
Contact details and documents CryptoIFX
While studying the mentions on Cryptoifx.org, our experts 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 Internet broker is not associated with regulatory organizations, then its users simply have nowhere to turn for help.
On the "Contacts" page, our employees 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 an online Forex broker? Make sure you can take money from him.
Analyzing the user agreement on the official website of CryptoIFX, our employees did not see specific information about the ways to withdraw money. We also saw a description of penalties for a long period of inactivity of a personal account, but did not find information about the sizes. Since the bandits do not operate in the official field, these requisitions cannot be canceled.
Because of this, even if the user has completed cooperation with CryptoIFX, they can call and write messages demanding to pay a fine.
How does CryptoIFX work?
The method of searching for users that CryptoIFX uses also raises concerns.
For promotion, false profiles on social networks are used, in which non-existent people report how they instantly managed to make a profit by making operations on the Forex market using CryptoIFX. Fakes show expensive cars and jewelry, trips to resorts, and other signs of a rich life.
Fakes guarantee a quick income, for which you do not need to study or make a lot of effort.
When a potential trader gets in touch with scammers, CryptoIFX managers talk about the possibility of instant income, as well as some unique abilities of their software, which allow you to immediately get a lot of money.
After that, various tricks are used to get the maximum finance from the trader. For example, the user can draw a small profit to inspire them to invest even more.
If the work on the Forex financial market turns out to be negative, the manager will recommend transferring more to close the losses.
CryptoIFX managers work according to manuals created by professional scammers. They study information about the trader in order to influence vulnerabilities, lure out even more deposits.
In any case, it all comes down to one of the ends:
- If you want to receive investments before you find yourself in loans, you will be fined, banned from using the invested money, and will do everything to force you to transfer more;
- If you allow criminals to drive the account on credit, there will be threats, scammers will begin to extort the return of a non-existent debt.
Another way to make money for CryptoIFX can be to sell your confidential information to outside companies. Probably, as a result, detailed information about you can be bought for a small amount on some anonymous service on the dark web.
It is likely that as a result of this, various scammers, sellers, etc. will start spamming you. You can also expect letters from CryptoIFX colleagues who will offer a “return” of lost money, of course for a fee.
Since CryptoIFX does not operate in an official field and remains incognito, Cryptoifx.org cannot be forced to respond under current law in Britain. The heads of the criminal firm are skillfully disguised and, at best, the legitimate authorities will be able to catch one of the "employees".
Is it worth working with CryptoIFX?
Only if you plan to transfer money to criminals, then it is better to give it to a good deed.
Let's briefly voice the evidence saying that CryptoIFX are scammers:
- Lack of official registration;
- No demo period;
- No information about the owners of the company;
- Phone number found in fraudulent schemes;
- Negative score;
- Leverage more than one to 50;
- Bad reviews;
- Invalid data on the website.
Complete CryptoIFX Review - Finished. Clearly, CryptoIFX are scammers.