CryptoIFX Review: Investing in the Stock Market or a SCAM?

If you’ve ever wanted to invest in the stock market, CryptoIFX assures that your time has come. The company believes that the industry has reached record levels, and it would be foolish not to seize this opportunity and continue to wait for a more successful entry point. Of course, the broker suggests starting investing with its platform. If you’re unsure whether to open an account here and are afraid of being scammed, just read our review.

CryptoIFX General Information

Registration and Client Portal Review

Let’s start by studying the official website of CryptoIFX. It is designed in quite bright blue tones. At times, this can be a bit eye-catching. White text on such a background looks very sharp. However, apparently, these are the tastes of developers, and it’s not for us to argue about them. In the top panel, you will find the standard menu. However, not all important sections are listed there. For some reason, account comparisons can only be found in the footer. Well, at least, the website does have documents, which means that the broker complies with some minimal requirements for information disclosure. By the way, this platform offers a wide variety of languages. There are Spanish, German, English, Turkish, and many other options available. Perhaps the broker is indeed aiming for some degree of global reach.

Moving on, we naturally wanted to check how to register on this platform. To do this, CryptoIFX asks traders to fill out the familiar form. You need to provide your first and last name, contact details, and address. The broker will also ask for your date of birth. And after you fill all this out, don’t expect any miracles. Registration won’t happen. Why? Obviously, this company artificially limits the ability of visitors to create accounts. To solve this problem, you will have to contact support.

It’s hard to say what the hitch is here. Perhaps CryptoIFX has some kind of partnership program. Or maybe you just need to get acquainted with them first before they allow you onto their trading platform. Whatever the case, all this immediately takes away several additional points from the broker. Who wants to struggle with registration and not understand what’s going on?

And from here arises a significant drawback. We still haven’t been able to access the CryptoIFX client portal and explore it from the inside. No worries. We’ll solve this problem nonetheless. For now, let’s just make a note that this company is clearly hiding something.

Trading Conditions

Not less than the official website, we are interested in what CryptoIFX actually offers to traders. Nowadays, brokers like to boast about the best trading conditions and so on. Well, let’s check that out now.

Account Types Review

Hmm, it looks like you’ll have plenty of options here. CryptoIFX offers a total of eight account types for its clients. However, it seems to have forgotten about the demo account for some reason. Although the minimum deposit on this platform is $250, it would still be nice for traders to have the opportunity to try out all the features without risking their money. Unfortunately. For now, you’ll have to take the risk.

Interestingly, while this company calls itself unique in terms of trading conditions, it is practically no different from its colleagues. And not the most successful ones, at that. You see, it divides accounts based on the size of the minimum deposit and the number of additional services. Therefore, the more money you bring them, the more you’ll get. For comparison, let’s take two accounts, Rookie and Investor. The minimum deposit for the first one, as we already mentioned, is only $250. For the second one, it’s $250,000. Technically, they have another more expensive account, a VIP, for $1 million. However, it’s not even written what services are included there. To find out, you’ll have to contact the managers yourself.

So, the first account offers leverage up to 1:200, secure ordering, responsive support, and basic platform access. Here, we certainly had a question. Are there brokers with unsecure order placement? What’s that all about? Well, as you can see, this is a very basic set of services. As for the Investor account, here you will receive specialized training on stock trading, invitations to exclusive events, and expired CFD contracts (we don’t even know what this is). Also, you’ll get four training sessions on trading commodities, cryptocurrencies, indices, and others. And here we have a question.

Imagine that you are a successful investor who managed to deposit $250,000. Why do you need any training at all? Wouldn’t it be more logical to offer these services to beginners? Apparently not from CryptoIFX’s perspective. After all, a rookie won’t bring in that much money.

Trading Platform

Ah, this mysterious trading platform. The broker praises it, but we still don’t understand why. Well, look. In our perspective, a good trading platform should have a well-known name, excellent functionality, and good ratings from traders. What terminal CryptoIFX uses is simply unknown. You can only access the platform by logging into your account. And as we already know, there are problems with that. Consequently, we also cannot check what functionality is inside. At the same time, we suspect that it is exclusively a web version. If it were otherwise, links to download the terminal would surely be openly available. Or even better — this platform could be found in popular app stores. However, of course, it’s not presented there. There are no ratings from traders either.

Thus, all three components of success are not met. You are offered some extremely dubious and anonymous software. So it’s better to be cautious if you suddenly want to run it on your PC.

CryptoIFX — Deposit and Withdrawal of Funds

Even more impressive were the rules for deposit and withdrawal. So, to deposit money into the platform, you can use bank cards or cryptocurrencies. Most likely, a bank transfer is also possible, as it is mentioned in the agreement. You can withdraw money by transfer only if the withdrawal amount exceeds $50. In other cases, you will have to use other systems. T

he most interesting thing is what CryptoIFX writes next. So, you will have restrictions on withdrawing funds. How about that? The limits concern how many times a month you can request a withdrawal. At the same time, the broker does not specify any numbers, thus leaving room for maneuvering. You see, they can claim that the maximum allowable number for you is up to 3 withdrawals per month. And for another client, it could be just two. And for a third, only one withdrawal per month may be available. How about that perspective?

The abuse of their powers is terrible. And CryptoIFX behaves in this matter like a typical scam. Be careful and do not transfer too large sums here. Otherwise, you’ll be exhausted trying to withdraw them with such limits.

Verification

Did you think that if the broker is so opaque, verification rules might not apply to you? Oh no, it doesn’t work like that. CryptoIFX may not disclose any data about itself. At the same time, according to its opinion, you are obliged to. Therefore, verification here is mandatory. It’s easy to pass. You will need to provide copies of standard documents like a passport and a utility bill. Or a bank statement. And when the broker verifies your documents and identity, within 24 hours, you will get full access to your account and its features.

Additional Options

Well, let’s quickly go over the additional options. So, CryptoIFX insists that you receive bonuses to your account. Seriously, it’s stated in the agreement. After the first deposit, you will receive them into your balance. Remember, it’s not so easy to withdraw them, and you’ll need to “play through” these sums.

Next, judging by the description of the accounts, we’ve already understood that the brokerage company offers a huge number of various trainings. Except it only works if you want to splurge on it. For ordinary retail traders, the only additional service here is perhaps a guide on using the platform. And the icing on the cake is that we can’t access the personal account to check if all these services are actually available there. Something tells us they’re not.

Is CryptoIFX a Scam?

Well, to be honest, it really seems so. However, since we can’t accuse anyone without evidence, let’s take a closer look at this broker. Get your magnifying glasses ready.

Legal Information and License

So, CryptoIFX claims to be registered in Saint Vincent and the Grenadines. Yeah, where else could it be? If you don’t understand our sarcasm here, let us explain. You see, Saint Vincent and the Grenadines is an offshore jurisdiction with one of the weakest regulatory systems in the world. Online brokers simply aren’t licensed here. Ha-ha, how about that? Seriously, there’s a whole explanation on the website of their local regulator FSA stating that licenses are not issued to such projects. So, you’ll be left alone with your problems if anything happens. No regulator will help you.

Oh, by the way, we forgot to mention. This company has been listed in the registry of Saint Vincent and the Grenadines since 2021. So they didn’t lie about that.

Cryptoifx.com Domain Info

If the company was incorporated in 2021, it’s logical to assume that the domain will be from around the same year. The Whois service also confirms that the website was created in 2021. Thus, now you know the official start date of this broker’s operations.

Contacts Review

For contacts, CryptoIFX offers you to use a phone number and an email address. It’s impossible not to notice the chat on the website because it literally pops up every single moment. As for offices, the company simply doesn’t have any. Except for a nominal one offshore, but we assure you, nobody is sitting there.

Pros and Cons

3.1 TOTAL SCORE

CryptoIFX Summary

What conclusions can we draw about this broker? It certainly doesn't reach a top-notch level. Trading conditions are mediocre. Regulation is absent. And overall, offshore jurisdiction always spells potential problems on the horizon. Would we open an account here? Certainly not. However, we cannot make the decision for you. Take our research, use it, and make your own move.

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Website information content 3

Client Portal 2

Trading conditions 4

Trading platform 4

Deposit and withdrawal 3

Verification 4

Extra options 3

Licenses and guarantees 2

Work duration 3

Feedback 3

Frequently Asked Questions (FAQ)