We are here to provide you the Cryptoxnia broker review to find out whether Cryptoxnia is scam or not? So let’s find out what is cryptoxnia.com in real.
Cryptoxnia claims to be the fastest growing global crypto curency exchange while boasting as the world’s most secured trading platform and lowest fees.
According to their website, it has over 40 coins available with 5x leverage for trading.
Cryptoxnia provided a profit calculator to see possible investment returns. Minimum investment period is 1week.
Should you trust Cryptoxnia?
It is clearly obvious that Cryptoxnia is a scam that you have to stay away from. It is a fraudulent investment platform that takes money from people and never process withdrawal. And it certainly lacks all the features of a legitimate entity.
- Cryptoxnia is unregulated as they should be regulated if they want to target customers on regulated markets like the European Union, including the UK. In fact, Cryptoxnia is not regulated in any country, it has no license whatsoever, which makes it an illegal investment service.
- Unlicensed brokers like Cryptoxnia do not have to report to a governing body. This means that if they scam you in any way, whether it be “glitches” or “malfunctions” causing server slippage in their system, or you go to make a withdrawal and they don’t process it (steal your money), you are out of luck. Beyond posting a bad review online, there is little you can do because these brokers have no legal authority to answer to.
- Bear in mind that unregulated brokers in general are completely uncountable for the way they handle your money, which makes any dealings with such entities extremely risky. Basically that is how people usually get scammed.
The broker claims to be a trusted broker across Europe, but it is not true. All brokers operating out of the European soil should at least have a license with one of the reputable financial watchdogs in the European Union – something Cryptoxnia failed to do. If the broker fails to process your withdrawal, you are typically on your own because they are not in any government financial register.
Is Cryptoxnia Safe?
Cryptoxnia is considered not safe, as it is not regulated and licensed by top-tier financial authorities, like the CySEC in Europe, UK FCA, the Australian ASIC, FSC in South Africa and the US CFTC.
The easiest way to check if a broker is licensed is by looking it up in the registry of the respective financial regulator – be it the Financial Conduct Authority (FCA), the Australian Securities and Investments Commission (ASIC), the Cyprus Securities and Exchange Commission, the Financial Sector Conduct Authority (FSCA). All of them keep such registers and they are publicly available.
Cryptoxnia is an unauthorized and illegal broker. Deposits with this broker are not protected, the company can’t legally offer its services in almost any country. It is a total scam.
The best way to invest in the markets is using a licensed broker
There is absolutely no reason to invest with an offshore or unlicensed broker. If you think you need high leverage or high margin rates, you are mistaken, and you will lose your money fast.
So go for licenced brokers, listed here.
AvaTrade is a Globally licensed Forex broker with copy trading benefits. They have a great trading platform that carters for both beginner and expert traders.
Test it out first on a free demo, see here.
How Cryptoxnia works?
We have proved that Cryptoxnia is a scam. Their investment offers are obviously meant to attract people and make them deposit as much money as possible.
Problem starts immediately you make a deposit to a scam platform. They will use many tactics to make you deposit more.
Scammers will take deposits from you but never let you withdraw anything, because these brokers often present silly legal documents and conditions that is out of the question as far as legit brokers are concerned. But it will just be a lie to get more money from you.
Cryptoxnia will request that you send them more money while declining all your efforts to withdraw your deposits.
At this point, most people will realize that they have fallen victim to a classical Forex trading scam.
Cryptoxnia is an obvious scam platform. It is never regulated and it presents all the features of scam.
Their investment offer is meant to trap unsuspecting victims. You should stay away.