KryptoWize claims to be the significant online trading services provider with over 100 cryptocurrencies available for trading. Four different trading accounts are provided to match every kind of trader’s needs. The broker fails to provide information about trading conditions provided on the official website. The only initial investment required is mentioned. There are several issues traders will face while trading with KryptoWize. Unregulated nature is one of them. In this KryptoWize review, we will discuss all the issues and advantages of it.
The four trading accounts are Beginner, Intermediate, Pro, and Expert. They require minimum deposits of $250, $1000, $10000, and $50000 respectively. To build a knowledgeable and unbiased review it’s our duty to discuss the advantages and disadvantages of KryptoWize. We will start with the advantages. The broker allegedly claims to offer over 100 trading instruments. It includes many cryptocurrencies and foreign exchange pairs. This is the only possible advantages; however, we cloud not verify brokers claims as there is no demo account available.
Here the disadvantages of KryptoWize are discussed. Regulation is a critical factor in the trading market. The brand KryptoWize is managed by a company called Rushtag Limited situated in the overseas territory of Britain named Gibraltar. The broker operational from here must be regulated by the Gibraltar Financial Services Commission. Sadly, it is not regulated by GFSC. In addition to it, the Belgian financial watchdog Financial Services and Markets Authority blacklisted KryptoWize as a potential scam cryptocurrency broker. The broker fails to provide information about available spreads and leverages. It also does not allow access to the trading platform. Therefore, we could not share information about trading conditions. It is a trick used by a scam broker to mislead traders. The initial deposit required of $250 is not acceptable considering unregulated and unlicensed nature if this broker. Many regulated brokers offer attractive services with the deposition of $5 only. Also, we don’t know what payment channels are provided by KryptoWize.
Is KryptoWize scam or legit?
The broker is situated in the overseas territory of Gibraltar. It must be regulated by any of the financial regulators across the globe but KryptoWize fails to comply it. Trading conditions are unclear and getting access to the trading platform is a hard task. The initial investment is high and the broker has received a scam warning by Belgian financial regulator. Therefore, we call KryptoWize a potential scam cryptocurrency broker.