The broker CryptoMusu is situated in the West Indies with an area of expertise in cryptocurrencies trading. At first, many traders will confuse CryptoMusu with cryptocurrencies exchange. It does not offer you the facility to hold and exchange crypto coins. It just provides you Contract for Difference over many cryptocurrencies. What so ever the claims of this broker it is not regulated. Apart from this primary concern, there are other secondary concerns we have across while researching for this CryptoMusu review. We will share all the logical and need full information about it. So stay tuned.
To furnish you with the neutral and informational review we will discuss possible positives and negatives of this broker. Let’s start with possible positives first. The broker provides CFDs over a plethora of cryptocurrencies that includes Bitcoin, Litecoin, Ethereum, Ripple, Dash, IOTA, and more. But the broker does not share information about other trading assets. The minimum required deposit is only $250 and that is according to the current market situation. It is neither high nor low however many other authorised brokers provide trading at a very low price point at $10.
Here we will share information on negatives of CryptoMusu. The primary negative of this broker is its no regulation. CryptoMusu trademark is owned by Agatha LTD the overseas company addressed in Commonwealth of Dominica. This area is like other red-flagged territories where regulation does not have any role. It means the broker operational from this territory are unregulated and can turn out to be a scam. The broker also provides trading bonuses. Many of our readers will think it is a good fact but NO. These trading bonuses come with additional withdrawal conditions. Usually, to withdraw trading bonuses traders need to trade high trading volume and its not an easy task. Therefore, bonuses are excluded from the regulated trading markets.
The broker does not make any effort to showcase its trading conditions. The trading conditions are not mentioned on the website and a demo account is not provided. Therefore, we could not comment on them. The payment method Skrill is absent and MetaTrader is not supported by this broker. Skill recently adopted an anti-scam policy so that it partners with only legit brokers. No other trading platform can match MetaTrader.
Is CryptoMusu scam or legit?
The broker is operational from Dominica and is unregulated. Trading conditions are not known. Skill and MT are absent. Therefore, we call it a potential scam cryptocurrency broker.