Read our Cryptrader review to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a cryptrader.io review.
Who are they?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.
So Cryptrader is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.
| Regulatory Body | Status |
|---|---|
| FCA (UK) | No record of authorization |
| ASIC (AU) | No record |
| CySEC (EU) | No record |
| SEC / CFTC (US) | No record |
How does it work?
Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.
Make sure you leave reviews about Cryptrader in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section. Also, when these people change their website they tend to call the old clients, so if they call you from a new website please write it down on the comment or let us know it by contacting us. That would be really appreciated by us and families all over world. Also if you get phone calls from other companies please put the name of these companies also in the comment or send it to us. We will expose them too.
Cryptrader Review Conclusions
Making the Cryptrader review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our Cryptrader review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
DO NOT FALL FOR THE SCAM. sound like nice people, but all they want is your money.
WE SHOULD ALL GET TOGETHER AND POOL OUR KNOWLEDGE ON THESE PEOPLE AND TRACK THEM DOWN.
A major scamming telesales operation.
I believe they are operating out of Cape Town. They are not traders but well rehearsed telesales agents passing themselves off as experienced traders, using a trading platform that is guaranteed to loose all your invested money.
You invest money, then zoom meetings and telephone calls harassing you day and night to invest more and more…..
They assign you account managers,senior account managers and try to convince you that they are going to assist you in making quick money trading with them.
First couple of trades on their rigged platform, shows a profit then they will ply more pressure encouraging you to invest (lose) more money.
By the time I had smelled a big rat, only a few weeks in, I then wanted to withdraw my investment, it was of course, too late!
They inform you that you must make some trades relative to the bonus before you can withdraw.
They placed two bogus trades resulting in me loosing all of my money..of course I already knew by this time that they were robbing me.
The call centre (office) sounded like an amusement park, I could often whilst on zoom calls hear bells ringing and cheering , music playing. What’s more, they didn’t seem to care that I could hear all this going on in the background.
I asked to talk with the CEO, nobody would tell me who he was ..of course not..sent emails requesting information which were never answered.
These rats need their comeuppance asap before too many other innocent investors loose their money.
I’m also trying to find more information on Citrex.io perhaps they are run by the same bandits ?
I wish they are in a prison for life !! They are worst case of dirty scam .
Despite I wasn’t well enough to answer the phone call they took advantage of me and blended me dry .
I asked them to refund my money times verbally and by emails but they gave false promises and the money has gone for good.
STAY AWAY……far far AWAY ……
Do not fall for people offering to recover your lost money. This is a scam within a scam
tay away from Cryptrader.io they’re scammers
For those in Australia, if you see articles promoting cryptocurrency by nine.com. au, the project, news.com.au, sunrise-
Please DO NOT click on the articles.
They are FAKE articles
Please DO NOT click on the link at the end of these articles –
Once you fill out form, an unregulated offshore company called Cryptrader.io based in South Africa will take over & you won’t see your money again
15 minutes after completing form I was contacted by Cryptrader.io to set up my account.
Account Manager Robert Sage was extremely friendly and helpful at the start.
Within 2 days he introduced me to the VIP senior account manager Thomas Chase whom offered me company bonuses.
These account managers- Thomas Chase, Tate Williams and Alex Daya all pushed the company bonuses, all promising how they could increase account and then return the deposit straight away into bank account- which was a lie
If you get contacted by senior account manager VIP Thomas Chase, Financial Services Tate Williams or Senior Account manager / CEO Alex Daya please DO NOT accept any bonuses from them.
By the end of July, I started asking the account managers to withdraw, at first, they tried explaining and making excuses why I couldn’t withdraw, then, I was constantly emailing and calling and contacting them with no answer for about 3 days.
I then asked Thomas Chase to withdraw the successful trade that was made over one weekend- which was $1,000, no email or contact saying no or I’m sending ur inquiry to support, no he puts it in too hard basket and he offloaded me to the customer service representative whom went to investigate my account and to see if they could let me withdraw anything.
Whilst they investigating, I get ANOTHER account manager which specialises in recovery.
I get him for two weeks where I’m told that there was an expiry date on trading volume which is now past and that they will give me one week to get 1million volume up 🙄🙄
Needless to say, I failed to get volume up in a week, account has been suspended and terminated
I have also contacted banks & the police to no success
Bank even advised me that the guys could be using fake names too
Please stay away from these guys and this organisation
I hope karma pays them all back x 1000%
Seriously don’t know how they can sleep at night
This is a fraud, stay away from them.. I initially invested $2000 in a plan, according to them made a profit of $12,000 in 15 days, but could not withdraw any unless a deposite another $5000….this is a fraud ..