Simple Trade Cryptos Review: This an Absurd Scam!

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Simple Trade Cryptos
  • Customer Support
0.5

Summary

Simple Trade Cryptos does not have a parent company. The broker also fails to provide contact details. Dealing with them comes with much uncertainty. Another red flag is nobody knows the qualifications and identity of the people behind the firm.

Simple Trade Cryptos promises to boost investors’ revenue. They urge customers to choose them to be able to manage their funds. The firm can allegedly transform traders’ lives. Be wary of entities that promise huge returns without having a practical technique. Moreover, the entity lacks proof of trade.

The scheme purports to have hundreds of existing products. We are yet to see a successful investor that has made withdrawals. Choose transparent crypto companies to enjoy ideal trading conditions. 

Simpletradecryptos.com Review 

Simple Trade Cryptos does not have a parent company. The broker also fails to provide contact details. Dealing with them comes with much uncertainty. Another red flag is nobody knows the qualifications and identity of the people behind the firm. Why would anyone expose themselves to such risks?

The scheme has no customer support. It is off they promise investors financial freedom yet they cannot afford to hire professional support. Traders can’t resolve any arising issues. 

Simple Trade Cryptos Trading Conditions and Accounts 

Simple Trade Cryptos has trading accounts that target beginners, premium, and businesses. Customers can allegedly trade commodities, forex, cryptos, and stocks. 

The scheme uses a web trader interface. Unfortunately, the platform lacks advanced features. Investors used to competitive trading tools won’t settle for them. 

One of the best trading software in the industry is the MetaTrader4 and MetaTrader5.  It has an economical calendar, charting tools, and VPS to keep customers’ orders active when the computer is off. Investors can create custom scripts and EAs. The platform is easy to use and has both fundamental and technical analytic tools. 

Simple Trade Cryptos advertise a spread of 0.1 pips. The limit is profitable but there are no such generous brokers that don’t charge commission. They offer leverage ranging from 1:100 to 1:200. The cap is prohibited in Europe as licensed companies can only offer a 1:30 limit. 

Withdrawal and Deposits 

Simple Trade Cryptos lists payment methods such as Visa, MasterCard, and wire transfer. However, the deposit menu is nonfunctional and it was impossible to verify the claims.  They accept a minimum deposit of $250.

Simpletradecryptos.com Review, Simpletradecryptos.com Features

The enterprise will give investors a hard time during withdrawal. They have undesirable terms. The entity is charging clients a 10% levy if they withdraw cash that doesn’t meet a minimum volume of 200 turnover. 

They do not specify the turnover and it could either be 200 million currency units or 200n lots. Either way, this is unattainable.  There is also a withdrawal fee ranging from $25 to $50.

Simple Trade Cryptos Regulation Status 

Simple Trade Cryptos provides terms and conditions policy. The legal document states the entity abides by the rules of Estonia. The European Security and Markets Authority (ESMA) does not approve the broker to be conducting its business in the EU.

Unfortunately, traders won’t get fund safety. The entity does not work with a reputable top-tier 1 bank to separate traders’ accounts from theirs. They also lack the capital to conduct their business without relying on clients’ deposits. 

Simple Trade Cryptos will leave clients high and dry. They do not offer customers negative account balance protection. They create an unconducive trading environment. 

The broker is not reporting daily transactional history to the financial watchdog. Therefore, nobody can know what happens behind closed doors. The broker is capable of manipulating market prices. 

Luckily, The Investment Industry Regulatory Organization of Canada (IIROC) has flagged Simple Trade Cryptos for illegally targeting its citizens. It is foolish to Deal with an exposed. You can only know if you are dealing with a legitimate or a scam by looking at the regulatory status. 

Final Verdict

Simple Trade Cryptos is a dark Ponzi scheme targeting naive investors. The offshore firm is an exposed scam by a reputable financial body. Their trading conditions are shady. You don’t need trading experience to know the entity is untrustworthy.

 One look at their cash-out requirements gives them away. Choose transparent and genuine crypto companies to earn passive income. 

 

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