WikiFX Review: what you should know about Cryptics.cc

First of all, Cryptics.cc is an officially exposed scam. The Spanish financial authority CNMV issued a warning recently against Cryptics.cc, confirming the brokerage is carrying out illegal business activities without authorisation. Simply put, Cryptics.cc is a scam you should avoid! You may check the screenshot below:

The Spanish CNMV warned investors that trading with Cryptics might pose a danger – since the broker is completely unauthorized to offer services. WikiFX suggests that you take such warnings seriously – a warning by a respected regulator proves with almost 100% certainty that a company is not to be trusted.

WikiFX also paid a visit to the broker‘s website to find out more - we should pay attention to some fraudulent claims made by Cryptics.cc. In particular, they mislead customers by pretending that Cryptics.cc is an EU-regulated broker, which it’s actually not – thats a major red flag, and even without an official warning, we would still tell you that Cryptics.cc is a scam!

What‘s more, Cryptics.cc heavily advertises its trading software, claiming it’s the best possible you can find. That‘s a pure lie! The so-called advanced terminal is a simple Webtrader that’s unstable and cannot provide any advanced features whatsoever! WikiFX also considers it dangerous as the lack of regulation leaves customers vulnerable to power outages, server issues or other technical failures that may occur. Hence, WikiFX recommends avoiding Cryptics.cc only because of its inferior platform.

Besides, the trading risks are high as leverage is fixed at 1:200, and it‘s impossible to change. 1:200 is dangerous, so disallowing customers to reduce it if they want to implies that Cryptics.cc creates an overly risky trading environment where losses can easily occur. However, in this particular case, the most important thing is that EU regulators do not allow more than 1:30 leverage, which ultimately means that Cryptics.cc’s claims to be regulated are just lies!

The minimum deposit with Cryptics.cc is $500, which is a high demand compared to the regulated industry – licensed brokers ask for $100 on average, while some will open accounts for as little as 5 to 10 dollars. Cryptics.cc is expensive!

Furthermore, Cryptics charges enormous inactivity fees – 10% of the money in your account after 6 months of no trading fees. Needless to say, this fee could potentially be huge – in contrast to that, most legitimate brokers only charge fees of around $5-$10 in such cases.

Now let's search “Cryptics” on WikiFX APP to find out more about this broker. WikiFX is an authoritative global inquiry platform providing basic information inquiry and regulatory license inquiry. WikiFX can evaluate the safety and reliability of more than 36,000 global forex brokers. WikiFX gives you a huge advantage while seeking the best forex brokers.

As you can see, based on information given on WikiFX, Crypticscurrently has no valid regulatory license and the score is rather negative - only 1.00/10! WikiFX gives brokers a score from 0 to 10. The higher the score is, the more reliable the broker is.

Investors are advised to search relevant information on WikiFX APP about the broker you are inclined to trade with before finally deciding whether to make investment or not. Compared with official financial regulators which might lag behind, WikiFX is better at monitoring risks related to certain brokers - the WikiFX compliance and audit team gives a quantitative assessment of the level of broker regulatory through regulatory grading standards, regulatory actual values, regulatory utility models, and regulatory abnormality prediction models. If investors use WikiFX APP before investing in any broker, you will be more likely to avoid unnecessary trouble and thus be prevented from losing money! The importance of being cautious and prudent can never be stressed enough.

In conclusion, Cryptics.cc is the regular shady broker waving all red flags you could possibly imagine. Its illegal, unlicensed, blacklisted by regulators, has poor trading software and imposes highly unfavourable clauses in its Terms and Conditions that practically harm your account balance. In short, Cryptics.cc is a scam you should avoid!

WikiFX reminds you that forex scam is everywhere, you'd better check the broker's information and user reviews on WikiFX before investing. You can also expose forex scams on WikiFX. WikiFX will do everything in its power to help you and expose scams, warn others not to be scammed. In addition, scam victims are advised to seek help directly from the local police or a lawyer.