The name of this broker, CryptoFG, fails to express what does it actually offers a CFDs over crypto coins or crypto exchange? Total of 7 trading accounts is offered. The average leverages and lower spreads are offered by it. However, the broker is blacklisted and unregulated. Therefore you must follow this unique CryptoFG review before start trading with it.
First four trading accounts are Trail, Basic, Trader, and Pro Plus and required minimum deposit of €500, €5000, €10000, and €50000. There are three additional premium trading accounts that need a minimum deposit of above €100K and that’s why we are not mentioning them. The maximum leverage of 1:100, 1:150, 1:200, and 1:250 are offered on the four mentioned trading accounts. Also, spreads are not directly mentioned on the official web page. Many asset classes are included in the broker’s product portfolio starting from cryptocurrencies, commodities, stocks and indices. Sadly, the broker does not deal with foreign exchange. But it formulated trading bitcoin against USD Tether. Also, spreads of $46 can be seen on the BTCUSDT pair and are lucrative. Additionally, 1:200 spreads are a good deal. There are two different companies which can be seen on two different presentations of CryptoFG. SolutionsCM LTD and Galaxy Capital LTD. They claim to be operational from Bulgaria. As a Bulgarian broker, it must be regulated by the Financial Supervision Commission. Sadly, we could not track brokers claims with FSC or any other EU based regulator. The broker offers a web trader trading platform that can not be compared with MT. The broker fails to give it’s a trading environment directly on the web page. For that, we have to go to the provided trading platform. As the practice of many scam cryptocurrency broker, it does not have a free demo account. There are several withdrawal terms and conditions needed. Like 20-time trading volume trade before legible for withdrawals.
Is CryptoFG scam or legit?
The broker is not legit, it is operational without proper licensing and regulations. A poor trading condition and the high initial investment is needed to operate this broker. A web trader is available that could not be compared to MT. All of this makes CryptoFG a scam cryptocurrency broker. Investments are not safe in it.