Cryptrader review 2022 | File A Scam complaint (2024)

Is Cryptrader a scam or legit broker? Read Cryptrader Review

An offshore cryptocurrency broker named Cryptrader.io only provides a small selection of trading pairs. They claim to offer simple, strong, and sophisticated trading software, but that can’t be further from the reality.

The company Modular One LLC, which claims to have been incorporated in St. Vincent and the Grenadines, uses the trading name Cryptrader.io. The regionis a dubious tax haven that doesn’t even regulate Forex firms, which explains why it’s teeming with con artists. Also, because the company is anonymous, it is impossible to find any information about it. Even the existence of such a legal entity is impossible for us to confirm. Since Cryptrader.io is unregulated and anonymous, we can assume that if you deposit money with the broker, it won’t be safe.

You shouldn’t think that a site like Cryptrader, which isn’t regulated and is mostly unknown, will help you make money because you will be a victim of fraud.

Yet, when it comes to making any withdrawals, you can find that you are suddenly ineligible to do so since you haven’t reached a certain trade volume criteria, possibly related to your trading bonus. No matter the circ*mstances, you will not be able to withdraw even a single penny.

Sadly, nobody is immune to scammers. The first thing you should do after being cheated is to take precautions to avoid future danger. Deactivate your card right away, then get guidance from your bank.

Possible scam activities of Cryptrader

Forex trading scams, Binary OPtions trading scams, Cryptocurrency trading scams and other investment trading scams are harder to spot. But there are some signs.

Here are some of the very possible reasons why we have flagged this broker as a scam broker in this Cryptrader review.

• The rules and regulations, Bonus and Withdrawal policies are not legitimate and they are made for defrauding traders.
• The broker makes continuous calls to the traders and urges them to invest higher and higher amounts.
• The broker may have made a number of false claims through its website.
• The broker promises returns that are too good to be true.
• The risk warnings may not be disclosed on their webpage or would be hidden.
• The broker remains operational for some time and suddenly you are not able to contact the broker or the website seems down. The broker also changes the name and website URL without any notice to existing traders.
• The broker may be located in the countries or small islands where there is no proper regulation and registering a company is very easy. Usually, these countries are havens for scam brokers.
• This broker provides you good chances of making profits and when you decide to withdraw your money, they will state their illegitimate rules of withdrawals, and ultimately you are not able to make a withdrawal.

Negative Cryptrader Reviews and Complaints

Cryptrader has got many negative reviews and traders who traded with this broker have raised many complaints against it. ReportScam has investigated a lot about this broker and based on the negative reviews, complaints and other scam features, we have listed this broker in the list of scam brokers 2023.

Example of Negative Cryptrader Review

After Searching internet you will find many negative Cryptrader Reviews. Users have frustrations and feel cheated after trading with this broker. ReportScam does not recommend traders to trade with this broker and your funds may not be safe with this broker and Cryptrader reviews are negative. Instead we recommend looking for regulated and reputed brokers who can really help in growing your investments.