Crypto Point Review
Crypto Point allegedly claims to provide a high return on investment with trading in cryptocurrencies. It also promises risk-free trading. The cryptocurrencies broker also has advanced trading education tools that it claims to be super beneficial to the nub traders. The cryptocurrency broker is operational from the United Kingdom. The broker’s claims look lucrative and legit, but this is not true. In this Crypto Point review, we will examine all its claims and give you an honest opinion. Let’s begin.
About Crypto Point:
The cryptocurrencies broker Crypto Point has many crypto coins in its offering, and they include Bitcoin, Ripple, Dash, Ethereum, IOTA, NEM, Litecoin, EOS, Monero, USD Tether, Libra, Bitcoin SV, Binance Coin, Steller, TRON, Zcash, and much much more. They are traded against each other and United States Dollars.
The broker does not facilitate the crypto exchange; instead, it provides CFDs over them. Sadly trading conditions offered by Crypto Point are not shared on the official domain. It is a very disappointing aspect of this broker. Trading conditions give an overview of the cost of trading and risk in trading. Besides, the broker fails to provide a free demo account. It makes this broker low credible, and trading with such a broker is like giving traders hard-earned investments to an unknown person.
The broker’s term and condition also reveals another shocking fact that the official website of Crypto Point is blocked in all the regulated markets like the European Union, Japan, the United States, and more. Now it is evident that we are dealing with a scam cryptocurrency broker. Most of the Contract For Difference traders prefer trading on the MetaTrader trading platform. Instead, a simple web-based trading platform is offered for trading.
The broker allegedly claims to be operational from the United Kingdom, and broker operation from this area must be regulated by local financial regulator the Financial Conduct Authority. Unfortunately, we could not find the name of Crypto Point in the registry of FCA. It means the broker is unregulated and unlicensed.
Additional charges like GBP 50 per month for a dormant account and withdrawal processing fee of GBP 20 is levied on the traders.
Is Crypto Point scam or legit?
The cryptocurrency broker Crypto Point is not regulated and unlicensed. The trading conditions are not shared on the official website. The broker is blocked in regulated markets. We are dealing with a potential scam cryptocurrencies broker.