Cryptomaxoptions

One look at Cryptomaxoptions and we knew exactly what type of broker this would be. The website is incredibly bad, and is a sign in and of itself that the broker is not legit. But further proof may be needed.

The first is a a certificate of incorporation in the UK, which to us seemed forged. Any company, no matter is credibility, can be granted such a certificate. What matter however for FX brokers is an FCA license, and this one does not have one. Therefore, its alleged UK registration means that it is supposedly offering illicit FX services in the country.

However, in the footer of the site, we find a US address, which is by far the most ridiculous claim a broker can make, especially one looking like Cryptomaxoptions. To say that it's hard to break inot the US derivatives market industry is an understatement of massive proportions. This country has only a handful of brokers that dominate the industry, and they are carefully regulated by the most demanding due of overseers this industry has ever seen: the NFA and CFTC. Only a miracle will allow for Cryptomaxoptions to be even considered as a potential candidate for a license.

And last but not least, Cryptomaxoptions is blacklisted by the FCA, which is a great way to put an end to the nonsense that the broker has been trying to sell us.

This broker is unregulated and a risk to all! Do not invest here!

Investing in unregulated brokers is the digital equivalent of throwing your money away for the wind to disperse it. It’s obvious that no one would do such a thing. Go with brokers that are regulated by trustworthy organizations like the FCA or CySEC. These entities work closely with the law, enforce it when called for, and have strict requirements for those under their gaze. Not to mention that those under their jurisdiction are members of compensation funds that cover victimized clients’ losses of up to £85 000 (FCA) and €20 000 (CySEC).

We were met with the typical scammer broker user area, with no shortages of very disappointing elements. But what threw us back the most was the complete absence of a trading software. Without a trading software, Cryptomaxoptions technically odes not offer any trading conditions.

CRYPTOMAXOPTIONS LOGIN

As we revealed previously, there is no platform available here. Neither the user area gives one away, nor does the website give any download links.

What we have instead are the classic third party charts that were utterly unnecessary and useless.

These charts do not act as trading grounds, as they do not allow for the buying and-or selling of assets. They are widely used as reference points by legit brokers, and as surrogate platforms by illicit brokers that are actually anything but.

Without a trading software, the very essence of Cryptomaxoptions is under question. How can it be a broker without a software?

CRYPTOMAXOPTIONS MINIMUM DEPOSIT

We assure you that all deposits will be lost! This type of brokers do not pay back money!

The client portal reveals that the one true way to “invest” is by sending money to some shady and unknown BTC address. There is no guarantee that this money will ever be reflected into the account of the user. In our experience these types of payments rarely are.

There is no minimum deposit.

Moreover, crypto payments are untraceable, which adds to the uncertainty factor. No one knows where you will be sending your money off to.

DON’T PROVIDE YOUR CREDIT CARD CVV CODE

The CVV code is the one thing that separates a buyer from a product. Without it, one cannot complete a purchase, even if him/her has given all other necessary information. By giving this detail to someone else, you are essentially inviting them to use your funds for their own means. And be warned that unregulated brokers most certainly plan to do so.

DON’T PROVIDE ACCESS TO YOUR COMPUTER AND BANK ACCOUNT VIA ANYDESK OR TEAMVIEWER

Be sure to never give AnyDesk or TeamViewer access to your PC to unverified agents. These 2 platforms allow for your PC to be taken over by a second party, oftentimes for help or guidance, but in the case of these brokers for the sole purpose of looting your bank account(s) and personal information. However, in order to do so your consent is needed, and this is the only thing standing in the scammers’ way.

CRYPTOMAXOPTIONS WITHDRAW TIME AND FEES

One of the main reasons why users shouldn't be dealing with unregulated brokers is that they won't be able to withdraw their money. It's a simple fact.

We always wonder why some many unlicensed brokers allow for withdrawals using a tone of payment methods. Take Cryptomaxoptions. The broker offers 9 different crypto wallets for withdrawing, as well as a bank transfer option. Usually, the AML law states that the depositing and withdrawing methods should be the same. Otherwise, money laundering is possible. But it seems that Cryptomaxoptions has ignored these rules; and why shouldn't it? It's illegal and can do as it wishes.

We found no further information on withdrawals anywhere. We are more than certain that users will not be able to take out money here!

ACCOUNT VERIFICATION

Beware, once more, when giving away an ID and a proof of address. Trustworthy brokers ask for these before traders can deposit to make a check up. Deceitful ones will ask for these details, using the anti-money laundering legislation as pretext, once you start asking too many questions and are getting suspicious of their activities. Understand that they will use these to build a stronger case against you in the event that you request a chargeback.

Yet again we urge readers to stay away from this broker as it will, without a doubt, never return your funds and profits. If you wish to to get smooth and efficient transactions, please visit a FCA/CySEC regulated broker, where all withdrawals are handled with care and respect.

HOW TO RECOVER

The most sound advice we could give you is to immediately file for a chargeback with you credit card company.

If you have given away your credit card details including the CVV code to the “broker” you should cancel it ASAP and check with your bank to see the damage inflicted.

Also, beware of self proclaimed “recovery” agencies or agents. These cheeky scammers promise to fix your problem and restore the lost funds. They offer their services in exchange of a small sum from your end, after which you won’t ever hear from them again.

The last line of defense for these indecent folk is more like a desperate cry: often times they will comment on reviews and cite the whole ordeal as a conspiracy initiated by competitive brokers against them; at times even claiming that reviewers are anything but objective, and that no one writes good reviews. The absurdities are limitless!

BOTTOM LINE

As we have clearly revealed, there isn't a single reason to invest in this broker. Cryptomaxoptions is a complete scam and a risk to all investments!