Cryptobo is an unknown company providing possibilities of binary trading on crypto. The anonymous group of fraudsters or a one-man-company operate out of an unrevealed location.
Despite owning no license and even being blacklisted, the faux site convinces their way of work is especially suitable for newbies wishing to earn a quick buck. Pros who are well-familiar with the market could allegedly get rich as well. This Cryptobo review brings you nothing but the truth about this sham.
Binary options trading is exceedingly risky and has, therefore, been banned in a number of countries. It was a terrible mistake from completely anonymous Cryptobo to offer these services to US traders, as CFTC is diligent in supervising the US market participants.
Being the main regulatory body, this regulator has identified Cryptobo as unlicensed to provide the services it does. Apparently, the same has happened in Russia. Here’s the regulators blacklisting Cryptobo:
Heavily regulated, binary trading is only allowed at several markets in the US. Cryptobo wants to partake without passing the mandatory regulation. That deems the broker unreliable, unsafe and potentially abusive towards clients and their funds.
Your funds are not placed in segregated bank accounts, there’s no negative equity insurance or compensation funds in case of loss and dispute.
None of the currently most traded assets are as wanted as Crypto coins. Ever since the surge of digital tokens a few years ago, a number of money-stealing projects have appeared as well.
Cryptobo, being one such scheme, offers clients easy money gain through small investments made in a matter of minutes. Not only does the broker claim no knowledge or experience is needed, but they’re also confident about making a fortune out of scrap. With the payout of 91%, the swindler propagates a huge winning ratio.
Does it sound too good to be true? That’s because it is! Contact us if you need help regaining your investment with this sham before it’s too late.
Cryptobo made its first appearance back in 2017. Meaning, the company has had plenty of time to obtain a reliable license. However, it seems that all they’ve done was defraud honest traders for just about any amount of money. The following countries count the most victims:
If you too happen to be among the investors robbed by Cryptobo, we advise you to contact our legal team for support and legal help in recovering your lost capital.
Although our attempts to establish an account with Cryptobo were thorough and repeated, we weren’t allowed into the client area. The platform is otherwise inaccessible. From the promises made on the homepage, we’d expect a web-based, reliable, features-rich and super fast terminal with comprehensive functions.
The Cryptobo homepage welcomes site visitors with ads about their impeccable, multi-platform software. Unfortunately, without an account, we couldn’t confirm the existence of one. Let alone a possible mobile app. No download links are posted anywhere on the site itself.
Cryptobo accounts should allow every newcomer to not just access crypto assets, but several other instrument groups, as well. The current offer includes the following groups of products:
As varied as the fake Cryptobo offer may seem, it is apparent that the scammer didn’t invest enough into making it seem credible. One of the ways to attract customers is certainly by designing customized account types for a trader of every knowledge level and expertise.
Cryptobo emphasizes immediate investing and trading, and also adds a deposit bonus of 500 Satoshi to every newly opened account. Therefore, Demo isn’t an option, there’s a single package that everyone gets and no minimum deposit requirement exists.
Binary options trading platforms do not usually charge fees on trading, so we cannot talk about costs such as commission and spreads. The suspicious circumstance is that Cryptobo declares not to charge funding and withdrawing either – that’s what Terms and Conditions exclaimed.
On the other hand, FAQ proposed that commission for each transaction is 0,0004 BTC. So there is a transfer fee?! Another fee is the maintenance fee of 0.001 BTC monthly.
Withdrawals can only be processed if there’s at least 0.002 BTC available for cashing out. Alas, we weren’t able to double check the truthfulness of any of the statements without passing the point of registration.
Quite a convenient way to immediately let customers know they’re expected to invest and that there’s no risk-free trading is by slamming bonuses on their account balance. Cryptobo does it immediately after you join, whether you like it or not.
So without even a slightest consent, the broker instantly gains an upper hand and a way to extort money by imposing unknown bonus conditions – which we know can be ever so extreme and ruthless.
As previously described, not all of the funding terms with Cryptobo are well described and thoroughly revealed to the trader. Without a license, the broker may claim whatever they wish – it’s their full-fledged right.
As attractive as some of the Cryptobo conditions may seem, believe us – the broker is not licensed and even blacklisted. Therefore, they’re not obligated to keep their word. As a matter of fact and how anonymous they are – we expect problems to appear, especially in the domain of capital withdrawing.
This is nothing new. Some even well-regulated brokers have managed to fail expectations – like FXCV for example. So seek our help any time. Our legal experts are working hard to combat scam and make the Forex community a bit safer everytime a scammer is exposed.
No, this broker doesn’t own a license and is, in fact, even blacklisted by CFTC and CBR.
The broker is fully unregulated – they provide zero proof of being licensed and authorized. We deal with such companies – contact us for legal support.
There’s no minimum deposit requirement. You can start with just $1.
Commission for each transaction is 0,0004 BTC, withdrawals included.
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