Cryptex Review – What Are Alternatives To This Shady Exchange?

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Cryptex company is registered in St. Vincent and Grenadines. Since then, the company provides crypto investment services, but also access to FIAT currencies. According to the company, they are operating since 2016.

But there are a few discrepancies about the company. The owner Payment Service Provider LLC is registered in SVG. Thus, their Facebook page is completely in Russian. Where the broker really is, remains questionable.

Generally, any crypto exchange is preffered to have Digital Asset Service Provider registration. This raises the credibility of the company and you will see the most attractive crypto exchanges having it. In the case of the Cryptex crypto exchange, there is no such protection.

On top of that, the company states the offshore country is the headquarters. If you didn’t learn already why companies register offshore, don’t do it the hard way. Yet, there is one entity registered in the UK which is the partner of the company. This way, they can present themselves as the UK exchange.

In fact, there are allegations that the person lost more than $200K. If you had any similar situations feel free to share them with us. In the best case, our specialized team can give you advice on how to proceed with the refund.

Practically, the company offers a standard crypto exchange. With their connections in the UK, they are trying to build legitimacy. Indeed, some journals mention Cryptex as a solid exchange. Thus, these articles mention registration without verification needed.

On the other hand, complies with KYC and AML policies. Therefore, verification is necessary. Also, those articles don’t provide the exact website address. So, it’s speculative. All these facts are used to build credibility. But if you want to know how to track crypto payments, get in touch with us.

According to those same great comments on Trustpilot, the company accepts US traders. Thus, they state in the disclaimer they are not offering services to US citizens. Nevertheless, their clients mainly come from:

The company offers a proprietary investment platform. It remains unknown if the company is available as a desktop app. But it is definitely the web-based one. Thus, the platform is limited only to basic analytical tools.

On the positive side, the company provides dedicated mobile app. Yet, only for Android devices. While the iOS app is coming soon. While some trusted exchanges have more than 50 million users, this one has only just above 10.000.

The company’s main tradeable assets are Cryptocurrencies. But also, the company offers FIAT exchange. Some of the cryptos available are:

With Cryptex trading company there are no standard account types. Also, there is no minimum deposit requirement. In fact, with equal conditions and attractive offers, some traders might choose this company. But after they realize that the Cryptex license is missing, they might back out.

No. Cryptex login doesn’t provide you with demo account features. Instead, you can only watch crypto market changes on a Cryptex account. But trading is not available before a deposit.

Transaction fees are quite low. They are up to 0.20% whether you are a maker or taker. However, deposit and withdrawal fees are a bit higher, depending on the method. Those can go up to 5% for certain methods. But, the company states that some fees might change due to changes on their platform.

No. At least according to the company presentation, they don’t offer any bonuses. In general, bonuses are coming with a range of clauses. Therefore, should be avoided.

Primarily, the company doesn’t have DASP license. Even though, Cryptex minimum deposit is $0. But there are high Cryptex fees for withdrawals. Also, they are registered offshore. Not without a reason.

So, you can expect potential withdrawal issues. Regardless, the best choice is to stay with proven companies and Tier 1 licensed brokers.

The only solution is to use alternative methods to recover the money. But firstly, you should share your opinion of the company. In case, you are not satisfied with Cryptex withdraw procedures and Cryptex support, you can contact our team.

With CipherTrace software available all nightmares can be gone. To know how this software can help you, don’t hesitate to book your first consultation today!

Not as much as some other exchanges with DASP licenses. Also, Cryptex has one very bad review where the trader reported a loss of $200K.

Cryptex exchange offers investments in cryptos, but also fiat currencies on their platform.

To make it worse, the only available contact option with the company is live chat.

As can be seen, their withdrawal fees can go up to 5%, depending on the method. If you get any difficulties during the withdrawal, don’t hesitate to contact our team.

The post Cryptex Review – What Are Alternatives To This Shady Exchange? appeared first on Global Fraud Protection.


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