The broker CryptoEU has its centre of attention on crypto coin markets that provide CFDs over cryptocurrency. The total of three trading accounts are offered and the trading environment is not available on the site. Over 50 crypto coins are offered for trading and accept almost all payments. However, it is an unregulated broker with other problems and in this CryptoEU review, we will cover every bit and pieces of it. Please follow it till the last line.
All the possible advantages and disadvantages will be discussed one at a time, to make this ultimate review unbiased and informative. As said above the total of 56 crypto coins are available for trading. These include Bitcoin, Ethereum, Dash, QTUM, WAVES, Steem, OmiseGO, Lisk, Gnosis, Golem, Augur, Status, MaidSasfecoin, GameCredits, DigixDao, Basic Attention Token, Metal, FirstBlood, Aragon, Civic, FunFair and most of the exotic one’s. The account funding can be done via several channels including Bitcoin, Credit Card, and many electronic wallets.
The broker is owned by the dubious company called Columbia Capital Group LTD situated on the Marshall Islands. The company has an association with many identified scam brokers like Novatraders, iForex24, and others. The broker in its website presentation claims to be operational from Bulgaria under the company O. A. Media Solution LTD. However, the Bulgarian brokers must be regulated by local financial watchdog Financial Supervision Commission. Nevertheless, the broker’s name could not be found in the FSC’s registry. It means the broker is unregulated and investments in it are at risk.
The broker also claims to be a crypto exchange but it offers CFDs over crypto coins. This means the CryptoEU is misleading its clients. It also offers managed accounts that means CryptoEU acts as a market maker. In short trader’s loss is the broker’s gain. The terms and conditions are salty and hinder withdrawals for three months. It also applies a higher commission of 6% on trading. It means 360 USD per trade. So, the actual trading cost of bitcoin trading goes to 6000 plus USD. Apart from the basic account, the other two accounts require more than 10000 USD as an initial investment. These are excessively high.
Is CryptoEU scam or legit?
The broker is operational from the Marshall Islands and it is the hub of scam brokers. Trading cost is very high at CryptoGo. Unregulated nature is scary and therefore we call it a potential scam cryptocurrency broker.