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Score

1.42 /10
Danger

Cryptospotfx

Cyprus

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

https://cryptospotfx.com

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Score

Regulatory Index0.00

Business Index6.29

Risk Management Index0.00

Software Index4.00

License Index0.00

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Website

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Warning: Low score, please stay away!
Previous Detection : 2025-02-01
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!

WikiFX Verification

Cryptospotfx · Company summary

Note: Cryptospotfx's official website - https://cryptospotfx.com/ is currently inaccessible normally.

Cryptospotfx Review Summary
Founded/
Registered Country/RegionCyprus
RegulationNo regulation
Market Instruments1,000+, forex, CFDs, commodities, stocks, cryptocurrencies and binary options
Demo Account/
LeverageUp to 1:1000
EUR/USD SpreadFloating around 0.2 pips
Trading PlatformMT4, MT5
Min Deposit$1,000
Customer Support24/5 live chat
Address: Nearchos Court, Block D 2nd floor, 57 Athinon Ave, Cyprus

Cryptospotfx is a broker registered in Cyprus. It uses MT4 and MT5 as its trading platforms, on which customers can trade forex, CFDs, commodities, stocks, cryptocurrencies, and binary options. The minimum deposit is $1,000, and the leverage can be up to 1:1000. However, this company is not regulated currently.

Cryptospotfx

Pros and Cons

Pros Cons
Diverse tradable assetsInaccessible website
MT4 and MT5 providedLack of regulation
24/5 live chat supportFCA black list
High minimum deposit
Only crypto payment options

Is Cryptospotfx Legit?

No, Cryptospotfx is is not regulated by the financial services regulatory authority in Cyprus, which means that the company lacks regulation from its registration site. Besides, Cryptospotfx was blacklisted by FCA. Please note the potential risks!

No license
FCA black list

What Can I Trade on Cryptospotfx?

Cryptospotfx provides several types of products, including forex, CFDs, commodities, stocks, cryptocurrencies, and binary options.

Tradable Instruments Supported
Forex✔
CFDs✔
Commodities✔
Stocks✔
Cryptocurrencies✔
Binary Options✔
Indices❌
Bonds❌
Options❌
ETFs❌

Leverage

The maximum level offered by Cryptospotfx is much higher than most other brokers, up to 1000:1. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Trading Platform

Trading PlatformSupported Available Devices Suitable for
MT4✔PC, web, mobileBeginners
MT5✔PC, web, mobileExperienced traders
Trading Platform

Deposit and Withdrawal

Cryptospotfx claims to support Skrill, PayPal, Neteller, VISA, and Mastercard. Nevertheless, it only accepts crypto coins.

Deposit and Withdrawal

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FX1458985725
more than one year
Trading with Cryptospotfx was the worst decision I have ever made, and I paid the price for my mistake. They constantly manipulated my account and the spreads were extremely high. Their customer service staff were no help at all, always giving excuses instead of solutions. It was a terrible experience, and I regret trading with them.
Trading with Cryptospotfx was the worst decision I have ever made, and I paid the price for my mistake. They constantly manipulated my account and the spreads were extremely high. Their customer service staff were no help at all, always giving excuses instead of solutions. It was a terrible experience, and I regret trading with them.
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2023-03-30 10:43
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