Today we will review the broker CryptoIFX, which, judging by the name, specializes in cryptocurrency trading, but this is not the case. The company boldly claims that it processes clients’ trades through NDD/ECN, but at the same time, it is registered in an offshore zone and does not own any licenses, and also offers CFDs, so it’s quite amusing to look at such a business model. We don’t think that’s true. And yet, can such a firm be trusted with money? Or should one not take such a serious risk?
How to Trade
The broker promises traders the absence of requotes and slippages, but this is impossible with NDD/ECN, so this once again proves that we are dealing with an ordinary dealing desk. Meanwhile, CryptoIFX offers a huge leverage of 1:400.
Clients have access to 8 types of accounts, but without a demo. So, to test the CryptoIFX platform, you’ll have to invest at least $250, as this is the threshold for the minimum deposit.
CryptoIFX does not disclose commissions and spreads but promises to provide responsive support, secure ordering, and basic training. The higher the account type, the more services are available, for example, more advanced training courses, private strategy, and Islamic account.
If the official website is to be believed, the trading platform at CryptoIFX is available in all versions: WebTrader, Mobile Application, and Desktop.
CryptoIFX Vital Info
The main question is when the firm began its operations. It would be great if the company indicated its founding date and provided some evidence, such as registration documents. However, CryptoIFX has chosen to remain silent, so we can only determine the platform’s launch date by the domain registration date. This happened in 2021, specifically in March.
Regulation is no less important than the duration of operation. CryptoIFX tells us nothing about its licenses. Yet, any regulated broker would surely display its license prominently, with numbers, links, and the regulator’s name.
We checked the registers of SVGFSA, as the headquarters are located in Saint Vincent and the Grenadines. CryptoIFX is indeed registered with SVGFSA, but this regulator does not oversee the activities of forex brokers. Therefore, this has nothing to do with licenses.
FAQ
What are the key facts about CryptoIFX?
So, we understand that the company was founded in 2021. It is indicated by the domain registration date and the date of registration in the SVGFSA registry. Well, this is neither a young nor an old broker, so it's not appropriate to think of it as solid or highly experienced. Besides, the organization does not possess any licenses. Yes, it's registered in SVGFSA, but this does not mean it is regulated. Hence, its operation is illegal. Also, the claims about ECN/NDD are highly doubtful. It's unlikely that an offshore platform without a license and with 1:400 leverage would have access to interbank liquidity. Most likely, it's a mere marketing ploy to attract traders' attention, and in reality, it's a 100% B-Book.
What's the risk to my wallet when working with this broker?
First and foremost, we want to remind you that margin trading with up to 1:400 leverage is a very risky business. Statistics show that more than 76% of users lose their money, so trading is not suitable for everyone. We also want to warn that CryptoIFX is not a safe place to open a brokerage account. Despite the official registration in Saint Vincent and the Grenadines, the platform does not have a license and cannot provide guarantees of reliability. This jurisdiction is teeming with scammers, as it is very quick and cheap to open a legal entity there.
How can I give my thoughts about cryptoifx.com?
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The Goods & The Bads
The website is translated into several languages.
The broker is indeed registered in St. Vincent and the Grenadines in 2021.
The broker is not currently accepting new clients, or you need to register an account through support. It raises serious concerns about the company's reliability. As far as I know, only scammers operate in this way. Whenever I encountered such actions, they were fraudsters. I don't think CryptoIFX is an exception.
It's sad to see people complaining that their money was stolen. But, they should have thought well about where they are investing their funds. Why get involved with an offshore dump without regulation and without the reputation of a verified and safe intermediary? I don't know the answer to this question. Maybe, the fraudsters from CryptoIFX are so clever that they managed to scam people over the phone? Such a scenario is possible.
I also have a sad experience of cooperation with this pseudo-company. They deceived me for a significant amount of money, which has not been returned to this day. I understand that there is no point in hoping that the scammers will return it, but maybe some miracle will happen.
I want to warn everyone against this dirty brokerage trap. Find a verified firm, not this pathetic parody of a broker.
What to do, how to retrieve funds? Stuck here, while the managers don't respond, as if they don't exist. I can't create a request to withdraw funds. How to solve the problem? And is it possible?
If I could go back in time, I would never open a deposit with Cryptoifx, because it was my worst mistake in recent years. The company simply led me around by the nose. They promised many services and guaranteed profit, but in reality, they appropriated my $10,000. I gave all my life savings to start earning extra, but it was a gross mistake.
My God, does anyone fall for such scams? It's an obvious scam. Just look at the jurisdiction where this fraudulent platform is registered, and then everything becomes clear.
Dear novice traders, I sincerely hope that it's not so easy to mislead you and direct you into the clutches of such obvious scammers as CryptoIFX. I hope you are studying the basic methods of evaluating a broker for fraud. I hope the trading courses you are completing are helpful and emphasize the selection of a reliable partner for cooperation. I want to share one rule from my experience that has saved me many times. Pay attention to leverage. Leverage is one of the simplest and most obvious ways to understand whether a broker is worth a closer look and whether cooperation is possible. All reputable European regulators set a leverage limit of 1:30 or 1:50 at most and simply will never issue a license to a broker with higher leverage because it poses additional risks. These scammers offer leverage of 1:400, which is significantly higher than the maximum allowable – this is a red flag that you should pay attention to and be cautious about. You have been warned.
I can't do anything with the money stuck on the site cryptoifx.com; I can't withdraw it by legal methods, the company is trying its best to hinder me, they blocked my withdrawal, referring to their rules, but they don't tell me exactly which rule I violated. There is even a definition by which they can block access to any account without explaining the reason. Now I've contacted lawyers who promise to help withdraw the money. I warn you against working with them; they are scammers.
I regret that I chose cryptoifx.com instead of some other, more verified and safe company. The problem is that this company turned out to be low-quality, dishonest, and fraudulent. At first, they started to tighten the screws on me, as I quickly realized that I had very high spreads and commissions, and the terminal worked poorly. Then they even started to constantly interfere with me.
I quickly figured out that I had nothing to do here, and they literally wanted to leave me without money. Then I submitted a request for withdrawal, and that was the end of it. The managers didn't respond, and it's been several months already. The money is still on the balance, but nothing can be done with it. This is not a deposit; it's just numbers on the screen that will never turn into real money again. I lost $500 on trading and $2,000 because I was deceived. Therefore, I recommend avoiding CryptoIFX and not making any deposits here, as you will have exactly the same problems as I did.
I have dealt with this platform, and I cannot say anything good about it. The firm is engaged in blatant fraud, as it "paints" quotes that are favorable to it. I quickly realized - they lied about No Dealing Desk and ECN. I tried to find out with which liquidity providers they work, but never got an answer. So, it's a typical dealing desk which works against its clients. It's obvious, but unfortunately, I already invested money.
In the end, the trading conditions were so bad that I couldn't make any profit. CryptoIFX just hinders stable and profitable trading because they are interested in the opposite. There are a lot of problems here: requotes, unstable terminal operation, delay in order execution, inadequate spreads and commissions, and so on.
Hmm, interesting platform. Seems like a normal terminal, with no requotes, and also low spreads, and the minimum deposit is reasonable. But on the other hand, cryptoifx operates without any licenses, which personally disturbs me a lot. Though it's also worth noting that they are indeed registered in Saint Vincent and the Grenadines, meaning it's a real organization, not some fake.
In general, I'm in two minds, as I want to trade Forex and other instruments, specifically here, but it's so risky. On the one hand, three years of experience, official registration, and acceptable trading conditions. On the other hand, the absence of a license and few reviews on the internet.
CryptoIFX is a typical broker operating as a dealing desk. Nothing interesting. Some may like it, others may not. I do not recommend investing large sums of money here, as the broker is based offshore, which means there is an increased risk of being a scammer. If you plan to trade here, do it with a small deposit that you won't mind losing.
What's the problem today with choosing a broker from the whitelist and immediately starting to work with them? Why do people still waste their time on brokers who deceive traders and can't even get a license? Here, the company Cryptoifx offers its brokerage services to traders from all countries, but it does not possess any license.
Where are FCA, CySEC, or ASIC? Even offshore financial commissions do not regulate the activities of this trash bin. Before starting to offer services, a brokerage firm must obtain a license. There is none here, so cooperation is very risky. You will be scammed out of your money, and no one will even help to compensate for the loss.
No license, false information, important conditions hidden – yes, it's a shameful scam which should be ignored and under no circumstances should you invest money here. Cryptoifx are scammers who just wait for some trader to give them their deposit.
At first glance, a good and ordinary brokerage company. I don't take it upon myself to judge strictly, but several years of experience, NDD/ECN business model, tech support, pleasant conditions look very good. I don't know what CryptoIFX really is, but maybe it's a nice place for trading. Overall, I give it 4 stars.
The broker is not currently accepting new clients, or you need to register an account through support. It raises serious concerns about the company's reliability. As far as I know, only scammers operate in this way. Whenever I encountered such actions, they were fraudsters. I don't think CryptoIFX is an exception.
It's sad to see people complaining that their money was stolen. But, they should have thought well about where they are investing their funds. Why get involved with an offshore dump without regulation and without the reputation of a verified and safe intermediary? I don't know the answer to this question. Maybe, the fraudsters from CryptoIFX are so clever that they managed to scam people over the phone? Such a scenario is possible.
I also have a sad experience of cooperation with this pseudo-company. They deceived me for a significant amount of money, which has not been returned to this day. I understand that there is no point in hoping that the scammers will return it, but maybe some miracle will happen.
I want to warn everyone against this dirty brokerage trap. Find a verified firm, not this pathetic parody of a broker.
What to do, how to retrieve funds? Stuck here, while the managers don't respond, as if they don't exist. I can't create a request to withdraw funds. How to solve the problem? And is it possible?
If I could go back in time, I would never open a deposit with Cryptoifx, because it was my worst mistake in recent years. The company simply led me around by the nose. They promised many services and guaranteed profit, but in reality, they appropriated my $10,000. I gave all my life savings to start earning extra, but it was a gross mistake.
My God, does anyone fall for such scams? It's an obvious scam. Just look at the jurisdiction where this fraudulent platform is registered, and then everything becomes clear.
Dear novice traders, I sincerely hope that it's not so easy to mislead you and direct you into the clutches of such obvious scammers as CryptoIFX. I hope you are studying the basic methods of evaluating a broker for fraud. I hope the trading courses you are completing are helpful and emphasize the selection of a reliable partner for cooperation. I want to share one rule from my experience that has saved me many times. Pay attention to leverage. Leverage is one of the simplest and most obvious ways to understand whether a broker is worth a closer look and whether cooperation is possible. All reputable European regulators set a leverage limit of 1:30 or 1:50 at most and simply will never issue a license to a broker with higher leverage because it poses additional risks. These scammers offer leverage of 1:400, which is significantly higher than the maximum allowable – this is a red flag that you should pay attention to and be cautious about. You have been warned.
I can't do anything with the money stuck on the site cryptoifx.com; I can't withdraw it by legal methods, the company is trying its best to hinder me, they blocked my withdrawal, referring to their rules, but they don't tell me exactly which rule I violated. There is even a definition by which they can block access to any account without explaining the reason. Now I've contacted lawyers who promise to help withdraw the money. I warn you against working with them; they are scammers.
I regret that I chose cryptoifx.com instead of some other, more verified and safe company. The problem is that this company turned out to be low-quality, dishonest, and fraudulent. At first, they started to tighten the screws on me, as I quickly realized that I had very high spreads and commissions, and the terminal worked poorly. Then they even started to constantly interfere with me.
I quickly figured out that I had nothing to do here, and they literally wanted to leave me without money. Then I submitted a request for withdrawal, and that was the end of it. The managers didn't respond, and it's been several months already. The money is still on the balance, but nothing can be done with it. This is not a deposit; it's just numbers on the screen that will never turn into real money again. I lost $500 on trading and $2,000 because I was deceived. Therefore, I recommend avoiding CryptoIFX and not making any deposits here, as you will have exactly the same problems as I did.
I have dealt with this platform, and I cannot say anything good about it. The firm is engaged in blatant fraud, as it "paints" quotes that are favorable to it. I quickly realized - they lied about No Dealing Desk and ECN. I tried to find out with which liquidity providers they work, but never got an answer. So, it's a typical dealing desk which works against its clients. It's obvious, but unfortunately, I already invested money.
In the end, the trading conditions were so bad that I couldn't make any profit. CryptoIFX just hinders stable and profitable trading because they are interested in the opposite. There are a lot of problems here: requotes, unstable terminal operation, delay in order execution, inadequate spreads and commissions, and so on.
Hmm, interesting platform. Seems like a normal terminal, with no requotes, and also low spreads, and the minimum deposit is reasonable. But on the other hand, cryptoifx operates without any licenses, which personally disturbs me a lot. Though it's also worth noting that they are indeed registered in Saint Vincent and the Grenadines, meaning it's a real organization, not some fake.
In general, I'm in two minds, as I want to trade Forex and other instruments, specifically here, but it's so risky. On the one hand, three years of experience, official registration, and acceptable trading conditions. On the other hand, the absence of a license and few reviews on the internet.
CryptoIFX is a typical broker operating as a dealing desk. Nothing interesting. Some may like it, others may not. I do not recommend investing large sums of money here, as the broker is based offshore, which means there is an increased risk of being a scammer. If you plan to trade here, do it with a small deposit that you won't mind losing.
What's the problem today with choosing a broker from the whitelist and immediately starting to work with them? Why do people still waste their time on brokers who deceive traders and can't even get a license? Here, the company Cryptoifx offers its brokerage services to traders from all countries, but it does not possess any license.
Where are FCA, CySEC, or ASIC? Even offshore financial commissions do not regulate the activities of this trash bin. Before starting to offer services, a brokerage firm must obtain a license. There is none here, so cooperation is very risky. You will be scammed out of your money, and no one will even help to compensate for the loss.
No license, false information, important conditions hidden – yes, it's a shameful scam which should be ignored and under no circumstances should you invest money here. Cryptoifx are scammers who just wait for some trader to give them their deposit.
At first glance, a good and ordinary brokerage company. I don't take it upon myself to judge strictly, but several years of experience, NDD/ECN business model, tech support, pleasant conditions look very good. I don't know what CryptoIFX really is, but maybe it's a nice place for trading. Overall, I give it 4 stars.