Cryptec Review: Cryptec.io Another Nasty Trading Scam
Cryptec.io platform started its operations in September 2019. The platform supposedly is involved in crypto trading.
Cryptec.io is an unlicensed platform that is not under the FCA. They are still new in the market, and being unregulated causes red flags. The platform is not transparent; users’ funds are at high risk of being stolen.
The investment company team behind the platform operates anonymous and can easily disappear without investors realizing it.
Platforms that are unregistered like Cryptec.io do not care nor pay attention to the laws and regulations and breach all the set protocols. They present the platform as fast-growing and claim to offer 120 CFDs and immediate market access for new investors.
On the platform, traders can easily choose to trade on what interests them. The platform is not entirely free, and traders and traders have to pay to access some features.
The free services, on the other hand, are far from true traders on the platform do not have access to auto or semi trading capabilities.
There is no account management method or social trading displayed raising questions. The investment company claims to allow modern day traders to trade assets with ease.
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The platform assures its investors that the personal information they have provided is secure and will only be used for trading purposes. We have listed the best cryptocurrency investment platforms in the market.
Cryptec Review
The Cryptec investment company claims to teach traders on the basic knowledge required before indulging in the trade market.
They allegedly assist clients in trading and investing in stocks, or trade digital currencies. On the platform, they falsely boast a large number of traders and claim to give large amounts of returns to its traders.
We believe that the displayed number is incorrect. If the Cryptec platform were doing so well as they claim, they would be featured in the top 100 best trading companies in the world.
Once you are registered on the platform, you are given a personal bitcoin address. After the account is activated, the minimum amount that can be deposited is 0.01 bitcoin. The platform has a great user interface and allegedly has a network speed of 108.5 PH/ s.
Cryptec.io Investment Plan
The Cryptec platform offers its clients five investment plans. The listed schemes of these sites are Black diamond account, VIP account, Gold account, Silver account, and Basic account.
In the Black account, the least amount you can deposit is $250, and the maximum is $10000. The account gives users a 50% bonus. In this plan, you have a 1-10 leverage. There are account managers who assist traders in this account. There is a platform walk-through to guide you.
The silver account offers 75% bonus crypto trading. Cryptec provides investors with technical education. The senior account manager assists clients’ in their trading activities. This account accepts a deposit from $10,000 to $25,000 and gives 1-20 leverage.
If the promised returns were true, no company would share the information of their discovery with the members of the public. They would focus on updating their portfolio.
The gold account offers 1-30 leverage. It grants a 100% daily bonus to traders. You will acquire a technical and fundamental education to guide you in the trading procedure. The account accepts a deposit of $25000 to $50000.
The VIP account promises leverage of 1-40. There is a VIP account manager available. Just like the Gold account, they provide technical and fundamental education. A bonus of 150% is promised. You can trade daily. The amount of deposit allowance is up to $5000, 000.
A black diamond account provides a 1-40 leverage. There is a BDG account manager, and a 150% bonus promised. Technical and fundamental education is provided, as well.
The above accounts are extremely exaggerated, and any traders need to be keen not to fall for such like traps.
How Does Cryptec.io operate?
The platform claims to give leverage amounting to 1:40, which is entirely out of range if you compare the normal ratio. The platform focuses mainly on cryptocurrency.
The Cryptec.io company depends solely on profits to run its operations. They have not mentioned the amount used to cater for expenses or involved risks.
The minimum deposit you can deposit is $250, and they claim to have margin level, minimum deposit, and bonus funds. The minimum deposit amount is for new trading accounts.
Cryptec.io has a 10% deduction for their traders. Traders are given 60 days before the 10% is deducted from the initial deposit.
They regulate and have withdrawal charges which can change anytime without client consent. Bonuses attract investors like most pyramid schemes. They also have wanting bonuses. The reward offered on the platform is, however, cannot be withdrawn.
Assets and Trade Circumstances
Although Cryptec traders are freely able to choose trading grounds due to the ample availability of crypto accounts.
The method of arrangement on the platform is easy for traders to understand the trade you indulge in quickly. The fact that they do not allow automatic computer trading is doubtful and directly seems not legit.
For traders to get more trade advantage, you need to dig deep into the pockets and deposit more capital.
Traders should earn from their initial capital, and they should not be asked to deposit more funds. Traders should check before indulging in such as trading platforms. The activities of this platform are not credible, and there are very many red flags that can be spotted.
Funds security on The Platform
The platform has not mentioned the minimum or maximum amount that investors can withdraw. It should not be the case with legit platforms as they need to inform traders of such data.
The Cryptec company has only stated their least accepted deposits. The fact that the funds' transparency is not 100% should show the client that the company is the sole beneficiary of their activities.
Although the bonuses promised to all accounts, it is a scheme they use to attract investors. There are no testimonials to prove anyone has withdrawn such amount.
Is Cryptec.io legit or Scam?
All legit trading platforms are required to be regulated and registered under the right authoritative bodies. Cryptec.io platform is not under FCA, which is a mandatory requirement by trading laws.
Authorized Crypto CFD brokers are required to be licensed by Financial Conduct Authority failure to have their authorization IIROC authority is needed. Lack of both authorization certificates poses them as a scam platform and ready to drain traders their funds.
Cryptec.io is an offshore company, and investor funds are not safe. Traders need to avoid this platform at all costs because the owners and employees are not recognized. The owners of legit platforms, unlike this platform, are well stated and exact locations given.
Cryptec.io Domain Insight and Contact
The investment company domain name is Cryptec.io. It was registered in September 2019, and it is expected to expire in 2020. Alexa global ranks the platform around 2.8million
Cryptec.io traders can reach them via email, Client.Service@Cryptec.io. The phone number displayed is based in Denmark, which is +45-78726185. The platform is owned by point palace Ltd located at Cnr old and Church Street, P.O. Box 2290 Roseau.
Cryptec.io Final Verdict
Cryptec.io is a platform trader who does not have the intention of generating returns. This is, by far, not a legit trading platform. The platform is unclear about its way of business, and investors who do not take caution will end up promoting scam platforms and making them richer.
The bonus given cannot be withdrawn, and it does not seem to add up. Clients' feedback regarding the platform are not encouraging for any trader looking for profits to trade with them. Traders who are still willing to take chances need to be more alert and only invest with legit platforms.
April 25, 2020 @ 11:50 am
I loss $15000! Avoid Cryptec.io This is a Scam company. Rocco and Kenneth pressured me into put more funds from $250, then $2500, then 7250 and then $5000, which then make me realise that this is a scam!!!I am not allowed to withdraw my funds! Currently I do not know where to get help. Avoid Cryptec.io and Citrex.io!!!
June 8, 2020 @ 10:40 pm
Hi
Have a look at this website they have a few ways of trying to get your money back as I to am being scammed by them
July 17, 2020 @ 7:06 pm
Lost$ 6500.00
September 18, 2020 @ 10:52 am
There is another company that look and operate just like cryptec.io, I am convinced that they are the same company. They may have changed their name to coinsmarket.exchange, google them to see for your selves.