CrpTrade Review: Regulators Decypher the Malpractice

Given the regulatory action, there’s no doubt that placing your investments in this portal poses a significant risk of loss. 

Read this CrpTrade review and learn why you should steer clear of any online financial services provider that lacks proper regulation. Moreover, don’t forget to seek help if you want to recover your funds, as our legal experts are always at your disposal.

Ownership Unclear

The CrpTrade broker’s owner remains entirely ambiguous. Since the company’s history and registration have zero details, it is impossible to determine where the firm operates from. In addition, all contact information is absent from the website. 

Because of the severe lack of any legal traces, we couldn’t determine the identity of the people behind the scheme. This lack of transparency is always a warning sign and a red flag you shouldn’t ignore.

Word From Authorities

The only information concerning the company’s activities is warnings published by several prominent financial authorities. These institutions oversee Forex market participants and have determined that this entity is driven by fraudulent intentions.

Some of these alerts were reposted by other financial watchdogs. The majority, however, agree that this platform is a total scam, especially when it comes to investing in crypto derivatives. 

The regulators that have published the warnings are AMF, CNMV, AFM, FSC, CBR, ATVP, and CONSOB. If you are still wondering,” Is CrpTrade legit?” The aforementioned evidence provides a solid negative answer.

Targets for Fraudulent Goals

The CrpTrade scam has a special affinity towards newbie investors that lack the experience to recognize a swindler. Boiler room operators will contact investors out of the blue and offer what may seem like a deal of a lifetime. Expecting to gain big, traders will burn their entire life savings on a hoax. Ultimately, they won’t even be able to make a single penny. 

According to complaints, the majority of the targeted individuals live in these countries:

• France
• United Kingdom
• Australia

Having in mind that the firm has operated since 2023 the number of victims is already substantial. If you suspect you’re being targeted for extortion, please contact our chargeback professionals immediately.

Poorly Rated

User feedback is often a reliable source of information, especially when it comes to how the company overall performs. The average rating on Trustpilot for this site is just 2 out of 5 stars, and the same is on Reviews.io.

Clients are generally more than frustrated with the bad service, but there’s another element we have to warn you of. Many of the reviews advertise recovery scams, which are no different from the faux trading platforms they usually collaborate with. That’s why you should only choose a professional, genuine and independent chargeback service, like the one we offer.

Disastrous Trading Environment

You can forget all of the false promises that pertain to some allegedly advanced trading systems and affordable services. A platform that lacks all of the elementary tools and features won’t help you earn anything. Its entire purpose is for the swindlers to manipulate you by displaying forged data, just like Excellence Markets does.

Furthermore, you will also be urged to invest large amounts of money to purchase more attractive account types, as the starter doesn’t offer much at all. The prices of these packages are as follows:

• Main – no minimum deposit requirements
• Bronze – $ 2,500
• Silver – $ 10,000
• Gold – $ 25,000
• Platinum – $ 50,000
• VIP – $ 100,000+

Costs Unknown

When there’s no legal documentation published on a web page, it’s highly unlikely that you’ll be able to learn anything about the fees, costs, and other charges. We’ve already discussed the fact that this company has a huge problem with transparency.

Scarce details related to CrpTrade trading costs are found only inside the terminal. Although spreads are not displayed, we found that the starting leverage on FX pairs is 1:200. All other charges are hidden, so you can expect to deal with secret fees.

Payment Information

Essential facts about payments are concealed in the same manner as the aforementioned costs. Inside the user panel, we can see these two methods supported for account funding:

• Crypto
• Credit cards

Finding bank wire transfers as an option for withdrawals raised another red flag, as the disparity between payment channels is a sign of an AML breach. However, nothing is known about the processing time and fees involved.

Support Isn’t Bothered

The client support office is practically non-existent. If you want to reach out to user assistance, you can only use email communication. That way, the con artists made sure of not being bothered by outraged clients who wanted to know why their withdrawals weren’t working. All and every single email will be ignored.

Regulated brokerage brands always support multiple apps, phone numbers, and have offices all over the world. When a Forex dealer limits the ways you can contact them through, know that something is not in order!

You Can Still Get Your Cash Back!

Have you also been defrauded by the CrpTrade broker or the QWEBank.com scam? Despair no longer, as help is at hand. 

Our chargeback experts can help you build your case and recover the lost funds as soon as possible. All you have to do is reach out to our chat agents and book a free consultation with our legal advisors. 

And remember: there’s no shame in losing your cash to a hoax platform. What is a real shame is letting your hard-earned money go to waste!

FAQ