WikiFX Review: What You Should Know About Crypto 24FX Before Your Investment

In today's diversified world of investment and finance, financial currencies have become a hot cake for the public, and especially foreign exchange investment and finance is of great interest to investors worldwide. So which broker can we trust？ WikiFX can help you!!! Search on WikiFX before investing to avoid bad reviews of traders. Today WikiFX is going to talk about Crypto 24FX with you and find out if this broker is reliable.

About Crypto 24FX

Crypto 24FX always set up as a financial derivatives broker which has been providing online forex, commodity，stock indices and related services for retail and institutional customers around the world.

Crypto 24FX also claimed to be based in the Unted States and licensed by the country financial institute. To find out if a forex broker is trustworthy, check first that it is registered and authorized with a local financial institution.

As we can see from the figure above that the query result is quite negative –no company named “Crypto 24FX” is shown on the National Futures Association(NFA). It clearly proves that Crypto 24FX is not authorized by NFA. The Commodity Futures Trading Commission (CFTC) makes it clear that individuals or companies that are not registered with the CFTC and are not members of the NFA are not subject to regulation by the US financial authorities. All members of the public in the United States should stay away from these companies because the financial services they provide are illegal. If anything goes wrong you're unlikely to get your money back.

In addition, to get a better idea of Crypto 24FX, WikiFX also paid a visit to its official website. Crypto 24FX tries to convince us they are a legit and professional broker, but it turns out to be the opposite.

Crypto 24FX offers three types of trading accounts, the descriptions of which provide us with further evidence that this is not a regulated forex broker.

The so-called “Silver account type” requires a minimum deposit of $500 to start the account, with an effective ROI of 50% over five days. And the so-called “gold account type” requires a minimum deposit of $5000 with an effective ROI of 200% over 24 days This is ridiculous! That's not what legitimate brokers do. Only a scammer can guarantee a high rate of return, because it uses an unrealistic ROI to lure clients to invest their money. As you can imagine, all of your investment will end up in their pockets.

What‘s more, Crypto 24FX set the leverage ratio as high as 1:400 for investors. It’s well know that no legitimate UK broker would let you do that. Leverage caps in the EU and England ban brokers from offering leverage higher than 1:30 on forex majors to retail traders. Overleveraged forex trading is suicide for beginners, which means you can lose money quickly.

WikiFX discovers that Crypto 24FX has a rudimentary web-based trading platform that cannot match the capabilities of the software used by licensed brokers. While this platform has the basic functionality to place orders, it cannot compare to the capabilities provided by MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

Now let's search “Crypto 24FX” 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 (https://www.wikifx.com/en/dealer/2017350809.html), Crypto 24FX currently 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.

Please note that WikiFX is also reminding the majority of users: low scores, please stay away!

WikiFX does not adivse you to invest in a unregulated broker with a low WikiFX score like Crypto 24FX. 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. Please do more research and make yourself comfortable before making a decision.

If you want to know more information about the reliability of certain brokers, you can click the information you want on this page Or you can download the WikiFX APP (https://wikifx1.onelink.me/QUVu/fiona) to find the most trusted broker for yourself.

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.