Broker CryptoIFX, operating in England, is a scammer with an unclean reputation.
When we go to the official website of CryptoIFX - Cryptoifx.org, we will find out that the organization under study provides brokerage services for working on the Forex market in the UK. In addition, CryptoIFX provides programs for trading actions.
Our specialists looked at the CryptoIFX website, got acquainted with the terms of operations, tried to get demo access to the services, analyzed the existence of official documents, the place of registration of the company.
With the help of this data, we will figure out: Is CryptoIFX a scam or not?
In addition, we will explain to you how not to fall for the bait of scammers, about their methods of operations. We will tell you the necessary information to keep your investments safe.
CryptoIFX is located in an offshore country
The first sign that indicates that Cryptoifx.org is bandits is the state of registration. Documentally, the organization is registered in the Marshall Islands, which is already doubtful, since the company operates in the UK. Offshore countries are popular with scammers due to the lack of laws and controls.
Also, this state does not have the rights to trade in the Forex market.
Also, when our specialists tried to find a physical or legal address, information about the owners and directors of CryptoIFX, they could not find anything.
This suggests that Cryptoifx.org is a shadow broker, cooperation with which will result in significant financial losses.
No CryptoIFX director data found
After analyzing the official website, our employees could not find plausible information about the owners of the CryptoIFX organization. No legal address, no phone numbers or other ways to get in touch.
Most likely, this means that the current leaders are trying to hide information about themselves in order to hide from responsibility for their actions. And even if it is possible to reach one of the CryptoIFX employees, then everything will end there, and the actual leaders of the shadow company will remain free with the money.
CryptoIFX, official website - Cryptoifx.org, is less than thirty days old
The Cryptoifx.org website talks about many years of experience in Forex operations.
The most common method of analyzing any website is to obtain domain information. As a rule, they indicate the age of the domain name, data for the connection of its owner.
In a specific case, the CryptoIFX domain name exists for less than thirty days, and all data about the legal entity or individual that owns it is classified. Another proof that the organizers of CryptoIFX are trying to keep their incognito.
Such a desire can be accepted, but not when it comes to an organization working as an intermediary between a trader and the Forex market.
At the same time, Cryptoifx.org assure users that they have been successfully trading on Forex for quite a long time.
CryptoIFX has no trial period
It is a normal practice for online brokers to give traders a test version of their services so that they can familiarize themselves with the interface, try out the possibilities in playing the Forex financial market with virtual money.
Unfortunately, on the CryptoIFX website, we did not find data on the demo period, the ability to test the software.
We think that the owners of the CryptoIFX organization are most likely not going to provide users with trial access to their software, as someone may suspect something is amiss.
Online broker Cryptoifx.org operates with a negative balance
Registered organizations that operate in the Forex market do not use a negative account in their work. By law, the user of an Internet broker cannot spend more than what is currently on his account. In those rare cases when the balance goes negative, the loan must be repaid not by the client, but by the organization that provided the services.
Because of this, official online brokers do not use a negative account in their activities.
And yet, CryptoIFX provides its traders with a negative account, that is, in debt.
Why is it necessary?
In order to drive the user into a loan and extort him to pay the debt. This is one of the most common methods of deception used by scammers.
If this has already happened, you need to remember that criminals do not have the opportunity to receive finance in accordance with the laws of Britain. All methods of influencing customers are considered illegal. The most that criminals are capable of is to disturb with calls, send messages with threats.
You cannot work with CryptoIFX, as the agreements will result in losses.
Cryptoifx.org operates with a leverage of one to four hundred or more
Already, it becomes obvious that CryptoIFX are scammers. Nevertheless, let us point out another fact, namely the presence of an excessively large credit ratio.
Leverage is the ratio of the finances of users and online brokers when concluding a transaction. It allows you to close significant trading operations to users who do not have access to sufficient funds.
In order to protect clients in the Forex financial market, in civilized countries the legislation provides for the use of leverage with the highest ratio of 1 to 30, in exceptional cases 50.
At the same time, CryptoIFX applies a leverage of one to four hundred for trading activities in the Forex financial market.
A similar ratio is legalized in Switzerland, as companies registered in this country enjoy great confidence. But CryptoIFX is not registered in this country.
In fact, CryptoIFX cannot trade in the Forex financial market with such a credit ratio, due to the high risk to users. Actually, this is only used to force the trader not only to give away as much money as possible, but also to drag him into debt.
Regional divisions of CryptoIFX
It is considered important for a financial company to have local representation in developed regions, even if the work takes place only in Britain. So CryptoIFX talks about the fact that in addition to an impressive number of awards, they have local branches in England, Australia and other civilized countries, and also about a large number of qualified specialists.
Checking the availability of these offices is elementary. Since there are industry structures that control the activities of Internet brokers. In the UK it's FCA, and in Australia it's ASIC.
That is, the official organization must have supporting documents from these or other organizations that confirm their permitted right to provide services for making money on the Forex market, determine the degree of responsibility.
However, after analyzing the profile web sites, our specialists could not find them. This once again reinforces the suspicions.
For registration on Cryptoifx.org, you need to transfer personal data
As we said earlier, CryptoIFX does not have a demo period and because of this, in order to gain access, you must immediately transfer the minimum deposit to CryptoIFX scammers. In addition, access to the Cryptoifx.org personal account is possible only with successful completion of identity verification.
This means that CryptoIFX requires its clients to transfer data such as:
- Data about an individual;
- Information about the permanent place of residence (scans of utility bills);
- Information about qualifications, place of work, experience.
Also, during the initial payment, scammers are able to access personal account data.
As a result, this information may allow criminals to hang a loan on a gullible user, or carry out other criminal operations.
Since registration on the Cryptoifx.org website requires you to submit your personal data, our experts were not able to access the CryptoIFX personal account and Forex trading programs.
Real reviews about CryptoIFX
The most important point of exposing CryptoIFX is the study of user reviews.
A detailed analysis of the search results on the Internet allowed us to obtain the following information:
- Most of the reviews and mentions of CryptoIFX on the Internet are lies. These are positive reviews similar to each other and mentions of a paid character;
- All real reviews and comments about CryptoIFX are bad. Our experts could not find reviews and comments from former Cryptoifx.org clients that would mention a decent income, efficient work.
- Negative mentions are caused by fraudulent activities, stealing money, creating debt.
Because of this, real reviews of CryptoIFX report that this Internet broker is a scam.
Contact details and official papers of CryptoIFX
After reviewing the information on Cryptoifx.org, we have identified 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 its users simply have nowhere to turn for help.
On the "Contacts" page, our specialists found 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 help of the Forex market online broker? Make sure that you can take away investments from him.
Having studied the client agreement on the official website of CryptoIFX, we did not find clear information about the methods for withdrawing earned money. Our experts also identified a description of punishments for account inactivity, but did not find information about the amount. Since scammers do not operate in a legal field, it is impossible to protest these fees.
That is, even if the trader has ceased cooperation with CryptoIFX, they can call and send messages demanding to pay a fine.
How does CryptoIFX work?
The method of searching for new users that CryptoIFX uses is also alarming.
For promotion, fake social media accounts are used, in which fake bloggers talk about how they quickly managed to get income by making transactions in the Forex market through CryptoIFX. Ad accounts show expensive cars and real estate, trips to resorts, and other indicators of a prosperous life.
Bots promise a rapid increase in income, for which you do not need to learn or make a lot of effort.
If a client gets in touch with them, CryptoIFX managers confirm the possibility of instant profit, as well as some unique features of their programs, which will make it possible to immediately earn a solid income.
Further, various techniques are used to get as much money from the trader as possible. For example, a fake profit may be created for the user in order to inspire them to give away more money.
If trading on the Forex market is negative, the personal manager will offer to transfer even more to compensate for the losses.
CryptoIFX managers act according to the guidelines created by professional manipulators. Criminals study user information in order to influence vulnerabilities and get more investment.
In any case, it all boils down to one of two options:
- If you want to receive investments before you find yourself in the red, they will charge you fees, close your balance, and do everything to force you to pay more;
- When you let the scammers put you on credit, threats will start pouring in, the bandits will start demanding payment of a fictitious debt.
Another method to earn income for CryptoIFX can be the sale of your personal information to interested organizations. Probably, as a result, information about you can be bought for a small amount of money on some anonymous Telegram channel on the shadow Internet.
Surely, as a result of this, various bandits, sellers, etc. will start spamming you. You can also wait for letters from Cryptoifx.org accomplices who will begin to offer a "return" of lost investments, of course for a fee.
Since CryptoIFX does not operate in the legal field and preserves anonymity, CryptoIFX cannot be forced to answer under the law in the UK. The organizers of the criminal company are carefully hiding and in the best case, law enforcement agencies will be able to catch one of the "administrators".
Should I trust CryptoIFX?
In no case!
Only if you plan to transfer money to criminals, then transfer it to charity.
Let's briefly list the evidence that testifies that CryptoIFX are scammers:
- Lack of official registration;
- No trial period;
- There is no information about the owners of the company;
- Phone number found in illegal fraud;
- Negative balance;
- Leverage greater than 1 to fifty;
- Negative reviews;
- Invalid data on the website.
Our CryptoIFX review is complete. Clearly, CryptoIFX are bandits.