Yes, the brokerage firm’s website was recently shut down amid increasing pressure from the UK’s financial market regulator. Nevertheless, we managed to provide a concise analysis of how this scheme was run in our Crypto Expert Trade Review.
Keep in mind that the plot relied on using a controversial address – 6595 Boles Road, Johns Creek, GA 3009. The FCA caught at least two more fraudsters using the same address in order to run their scams.
In case you trade on an unregulated platform, you won’t be protected by the Financial Services Compensation Scheme (FSCS) if things go wrong, meaning you won’t get compensated if the firm goes out of business.
If you want a reliable trading platform, we suggest you find a brokerage firm that legally operates under the supervision of renowned financial market authorities such as the FCA (UK), CFTC & NFA (US), ASIC (Australia), MAS (Singapore), IIROC (Canada), FINMA (Switzerland), etc.
Brokerage companies need to meet certain requirements in order to obtain a regulatory license in top-tier jurisdictions. For instance, a firm doing business in the European Economic Area must maintain a minimum operating capital of 730,000 EUR.
Furthermore, its clients must receive negative balance protection, a segregated bank account, a safe leverage cap (1:30), and a compensation scheme contract (up to 20,000 EUR).
An unfortunate trader who lost funds to this hoax says that
“when you make profit and want to withdraw they will hold back your funds and decline you withdrawal claiming you have to pay one fee or the other.”
If you need help getting your money back, we offer our services.
We do not know which trading software used to be available. Since the website is down, we guess that it will never be known. Nevertheless, the evidence already provided in this review should be enough to show you how to identify sham platforms and why you should avoid them.
If you’re looking to improve your trading experience and make the whole process enjoyable, you should definitely find a licensed broker that supports recognized third-party software such as MetaTrader 4, MetaTrader 5, or cTrader.
None of the trading conditions, i.e. leverage, spreads, and commissions, were disclosed. There are a few things we would like to emphasize in this section.
Forex and crypto importers usually promise potential clients super high leverage, sometimes exceeding 1:100. Leverage can amplify profits but also losses. Trading with such high leverage is pretty risky because there is a big chance you will lose all your funds.
Crypto Expert Trade did not reveal the available payment methods or the related fees. The minimum deposit and withdrawal requirements are a mystery as well. Hence, a chargeback is the most likely solution.
If you deposited funds via MasterCard and VISA credit/debit cards, you can request a chargeback. It can be done at the issuing bank within 540 days of the transaction. We can guide you through the process but first, you must book a consultation with us.
To sum up, Crypto Expert Trade is an anonymous trading scam that was recently exposed by the FCA, resulting in the deceptive website getting taken down. The main targets of this phony were traders from the US, UK, Nigeria, India, and South Africa.
If you cannot withdraw your funds from this platform, please book a free consultation with Global Fraud Protection. We have a team of skillful professionals who can assist you with the chargeback procedure and expressly get your money back.
Book your free consultation today and start the chargeback process.
Crypto Expert Trade is an online scam exposed for pretending to be a Forex slash crypto trading platform.
Crypto Expert Trade is not legit. This website was recently shut down after the FCA issued a warning against it.
Not disclosed. If you deposited a certain sum on this platform, we can help you get it back.
We do not know since the website got taken down. All we know is that the platform once supported crypto.
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