Cryption-Ico Review: Is Cryption-Ico.org Legit or a Scam?
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Cryption-Ico Review
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Fund Safety
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Customer Support
Summary
Cryption-Ico is full of marketing gimmicks and lies. One of the bold claims the broker makes is that they are a secured investment company, designed specifically for people who want to get reliable & profitable source of income. They also guarantee traders that they will earn profits.
In recent years, the online trading industry has experienced exponential growth, attracting a large number of participants. This surge in popularity, however, has also brought about an increase in fraudulent activities and scams like Cryption-Ico.
One of the key factors contributing to the rise is the low entry barrier. Unlike traditional financial markets, online trading platforms often allow individuals to start trading with minimal funds and basic identification documents. This accessibility has made it easier for scammers to infiltrate the market and target unsuspecting traders. There are still however many honest and transparent crypto brokers, so all is not lost.
About Cryption-ico.org
Cryption-Ico is full of marketing gimmicks and lies. One of the bold claims the broker makes is that they are a secured investment company, designed specifically for people who want to get reliable & profitable source of income. They also guarantee traders that they will earn profits. This is misleading because no investment company can guarantee a profit because of the risks involved.
Cryption-Ico purports to have been in the business since 2017. We checked whois.com to verify this information and found that they registered their domain on 9th February 2024 and it will expire in 2025. This short period means the broker will be exiting the market soon because they are scammers. Most shady brokers don’t operate for long because they know their days are numbered.
Founders and Team
Just like the other typical scammers, Cryption-Ico has not revealed its founders or current executive. Without identifiable people at the helm, it’s challenging for authorities to track down and prosecute those responsible for fraudulent activities. This anonymity allows them to continue their deceptive practices unchecked.
By presenting a polished website and professional image without disclosing the actual individuals behind the operation, scam brokers can deceive unsuspecting traders. Furthermore, anonymity allows scam brokers to quickly rebrand and relaunch their operations.
Cryption-Ico Contact Details
Cryption-Ico has an email, phone number and physical location. However, they’re unreliable because even the WhatsApp number they have given is not working. The broker is simply giving this information to give the false impression of legitimacy while in actual sense they’re unreliable.
Scam brokers often do not want to engage in direct communication with their potential victims. By hiding their contact details, they can avoid enquiries or offering customer support that could jeopardize their mission. It also creates a barrier between the broker and the trader. This makes it hard for traders to reach out for assistance. This barrier can deter traders from seeking recourse when they suspect they are being scammed.
Cryption-Ico Regulation Status
The firm claims to be registered in the UK and has even provided a registration number. However all these are fake. When we checked Financial Conduct Authority (FCA) database, we didn’t see the name Cryption-Ico. Instead, there was only a warning from the FCA against trading with this shady broker.
Without a regulated broker you won’t enjoy investor protection. Regulatory bodies ensure brokers follow strict guidelines and standards. However, unregulated brokers are not subject to these regulations. In the event of a dispute, traders may have limited legal options to recover their funds. This unlicensed broker also doesn’t have a segregated account.
Cryption-Ico Trading Conditions
We didn’t find any details about the spread, leverage or commission charges concerning the broker. Also, deposit and withdrawal methods are missing. It’s hard to therefore determine whether this is a suitable broker without understanding their operating parameters.
Final Verdict
Cryption-Ico is a scam forex broker. Despite their best efforts to conceal their identity, we have unmasked their schemes.
Many scammers are fond of giving misleading information which appears too good to be true. As an investor, you should do a background check on the firms and ensure that you’re dealing only with honest and transparent crypto brokers.
