CryptoIFX, an internet broker that operates in England, is a scammer with a notorious reputation.29 / 04 / 22 Visitors: 399
When we go to the official website of CryptoIFX - Cryptoifx.org, we will find out that this company provides intermediary services for Forex operations in England. CryptoIFX also provides programs for financial transactions.
Our employees explored the CryptoIFX website, got acquainted with the working conditions, made a ride to get at least demo access to the services, analyzed the existence of official documents, the region of the company's registration.
With the help of this information, we will figure out: Is CryptoIFX a scam or not?
In addition, we will explain to you how not to fall into the trap of scammers, about their methods of action. We will tell you all the necessary data to keep your finances safe.
CryptoIFX is located in an offshore country
A serious call, saying that CryptoIFX are criminals - the country of registration. The organization is documented in the Republic of the Marshall Islands, which is already in doubt, since it operates in England. Offshore countries are popular with criminals due to the lack of laws and oversight.
Moreover, this region does not have the rights to operate in the Forex financial market.
In addition, when our employees tried to identify the physical or legal address, information about the owners and directors of CryptoIFX, they could not find anything.
This suggests that Cryptoifx.org is a criminal online broker, working with which can result in significant financial losses.
No information found about the owners of CryptoIFX
After examining the site, our specialists have not been able to find reliable information about the leadership of the Cryptoifx.org organization. No physical or legal address, no telephone or other means of communication.
This probably means that the real owners are trying to hide information about themselves in order to elude responsibility for crimes. And even if you manage to catch one of the CryptoIFX employees, then this will all end, and the actual owners of the shadow company will remain free with money.
CryptoIFX, official website - Cryptoifx.org, has been up and running for less than a month
The CryptoIFX website talks about a lot of Forex action experience.
The main way to study the site is to obtain information about the domain. Basically, they record the age of the domain name, information for contacting its owner.
In our case, the CryptoIFX domain name exists for less than thirty days, and all information about the individual who owns it is hidden. Another proof that the director of CryptoIFX is trying to maintain his anonymity.
Such a desire can be supported, but not when it comes to a financial organization that works as an intermediary between a client and the Forex financial market.
At the same time, Cryptoifx.org assure their potential users that they have been successfully working on Forex for a long time.
Cryptoifx.org does not have a trial period
It is a normal practice for brokers to give traders a demo version of the services so that they can get acquainted with the interface, try their skills in Forex operations with virtual currency.
Unfortunately, on the Cryptoifx.org website, we could not find information about the test period, the ability to test the software.
Most likely, the management of the CryptoIFX organization simply does not plan to provide customers with trial access to paid software, as someone is able to suspect fraud.
Online broker CryptoIFX works with a negative balance
Official organizations that operate on Forex do not use a negative account in their activities. By law, the broker's trader is not able to spend more than is currently on the account. In cases where the account goes into a negative value, it is not the trader who is obliged to pay off his debts, but the company that provided the services.
Because of this, official Internet brokers do not use a negative balance in their activities.
And yet, Cryptoifx.org provides its users with Forex operations with a negative account, that is, in debt.
What is it for?
To drive the user into a loan and extort a loan. This is one of the most common fraud methods used by financial scammers.
In the event that this has already happened, you need to know that scammers have no way to knock out finances under UK law. Absolutely all methods of pressure on traders are considered illegal. The maximum that scammers are capable of is to disturb with calls, write messages with threats.
You cannot cooperate with Cryptoifx.org, as agreements will result in losses.
CryptoIFX operate with a credit ratio of 1 to 400 or more
Already now, it is clear that CryptoIFX are bandits. However, we will point out one more nuance, namely the presence of an extremely high leverage.
The credit ratio is the ratio of users' and brokers' money when making a transaction. This allows you to make large transactions for customers who do not have large amounts of money with them.
In order to protect traders in the Forex financial market, in civilized regions, legislation requires the use of leverage with a maximum ratio of 1 to thirty, in rare cases fifty.
At the same time, CryptoIFX applies a leverage of one to 400 for Forex trading.
Such an attitude is allowed in Switzerland, since the organizations registered in this state enjoy great confidence. However, CryptoIFX is not registered there.
In fact, CryptoIFX cannot operate on the Forex market with such leverage, due to the high risk for users. Accordingly, this is used solely to force the client to invest as much of his funds as possible, but also to drag him into debt.
CryptoIFX Regional Offices
It is considered prestigious for every firm to have local offices in civilized regions, even if the work takes place only in the UK. Therefore, CryptoIFX informs that in addition to a large number of awards, there are regional divisions in Britain, Australia and other developed regions, as well as many qualified employees.
Checking the availability of these offices is quite simple. Since there are profile structures that control the actions of online brokers. In the UK it's FCA, and in Australia it's ASIC.
Therefore, a law-abiding company must have permits from these or other organizations that will confirm their permitted right to provide trading services on the Forex market, determine the level of responsibility.
However, after analyzing the profile websites, we could not find them. This once again confirms the fears.
For registration on Cryptoifx.org, you must transfer confidential data
As we reported earlier, CryptoIFX does not have a trial period and because of this, in order to gain access, you must immediately transfer the minimum payment to CryptoIFX scammers. In addition, access to the Cryptoifx.org personal account is possible only upon successful completion of identity verification.
This means that CryptoIFX requires its users to submit data such as:
- Information about an individual (passport, driver's license, etc.);
- Data on the permanent place of residence (receipt for utilities);
- Information about the place of work, qualifications, experience.
In addition, during the initial payment, the bandits can access the card data.
As a result, this information can enable criminals to hang a credit on a deceived user, or carry out other criminal frauds.
Since in order to register on the official Cryptoifx.org website, you need to transfer your personal data, our experts did not get access to the CryptoIFX personal account and Forex applications.
Real reviews about CryptoIFX
The most important step in exposing CryptoIFX is the analysis of customer feedback.
The study of the search results on the Internet allowed us to obtain the following data:
- Most of the mentions and reviews of CryptoIFX on the Internet are lies. These are similar positive reviews of a paid nature;
- All real references to CryptoIFX are bad. Our experts were unable to find true reviews and references from Cryptoifx.org clients that mention income, effective work.
- Negative mentions and comments are associated with criminal acts, theft of money, artificial creation of credit.
Therefore, CryptoIFX reviews indicate that this online broker is a scam.
CryptoIFX contact details and documents
While researching the information on Cryptoifx.org, our staff found many dubious digital white papers that can be easily done with a graphical editor. They are not confirmed by official firms, which means they cannot be trusted.
If the broker is not associated with regulatory companies, then users simply have nowhere to turn for help.
On the "Contacts" page, we saw a phone number. It turned out that it had already been used by an illegal broker. There are also many reviews on the net about fraudulent activities associated with the phone number listed on Cryptoifx.org.
Withdrawing money from Cryptoifx.org
Are you going to make money with the help of an online Forex broker? Make sure that you can take away investments from him.
After reviewing the user agreement on the CryptoIFX website, we did not find specific information about the withdrawal methods. Also, our experts identified the mention of fines for a long period of inactivity of the account, but did not find data on the size. Since the bandits do not work in the official field, it is impossible to protest these fines.
Therefore, even if the client has ceased cooperation with CryptoIFX, they may begin to disturb with calls and write letters demanding to pay a fine.
How does CryptoIFX work?
The user search method used by CryptoIFX also raises suspicions.
For promotion, fake social media accounts are used, in which fake people spread information about how they instantly managed to make a profit working on Forex using CryptoIFX. Non-existent people show expensive cars and clothes, holidays in resorts and other manifestations of a prosperous life.
Bots promise fast earnings, for which you do not need to learn or make a lot of effort.
When a potential client gets in touch with them, CryptoIFX employees talk about the possibility of rapid earnings, and also about some unique abilities of their services, which will make it possible to immediately withdraw serious earnings.
Then all sorts of tricks are used that make it possible to get the maximum amount of finance from the trader. For example, a user can draw a fake profit in order to provoke them to give even more deposits.
When Forex trading is negative, the manager will offer to transfer even more to compensate for the negative.
CryptoIFX employees work according to methods created by qualified psychologists. They study information about the user in order to act on vulnerabilities and get more investment.
In any case, it all comes down to one of two options:
- When you decide to receive money before you find yourself in debt, you will be charged fees, freeze assets, and do everything to force you to transfer more;
- If you let the scammers drive the balance into a minus, threats will fall, the bandits will extort the return of a false debt.
Another way to make a profit for CryptoIFX can be the sale of your confidential information to interested companies. Most likely, after that, it will be possible to acquire information about you for a moderate amount on some anonymous Telegram channel on the dark web.
It is likely that as a result of this, various bandits, sellers, etc. will call you more often. You can also wait for messages from CryptoIFX accomplices who will offer a "return" of lost investments, of course for a reward.
Since CryptoIFX does not operate in a regulated field and remains anonymous, Cryptoifx.org cannot be enforced under the laws of England. The heads of the shadow organization are diligently hiding and in the best case, law enforcement agencies will be able to catch one of the "workers".
Can I work with CryptoIFX?
Only if you are going to give money to scammers, then transfer it to charity.
Let us briefly state the facts indicating that CryptoIFX are scammers:
- Lack of official registration;
- No demo period;
- There is no information about the owners of the company;
- Phone found in shady operations;
- Negative balance;
- Credit ratio more than one to fifty;
- Negative reviews;
- False information on the website.
Detailed review of CryptoIFX - completed. It is clear that CryptoIFX are bandits.
A complete list of unscrupulous brokers, that we do not recommend working with is available here.