How safe is Cryptokartal 2019 to invest in.
The Forex market has many suspicious brokers operating somewhere far away in the islands. Some of them can be considered trustworthy, while others cannot. Crypto kartal (or Crypto Kartal) is a forex broker registered in St. Vincent and the Grenadines with great ambiguity regarding its trading conditions. It offers a web-based trading platform and requires a minimum deposit, which is about average for the industry.
Crypto kartals regulation and the safety of money.
The website says that the companies behind the broker were registered under the name Elmond Enterprise LTD in St. Vincent and the Grenadines, and filed under the name Fukazawa Partnership in Estonia. Beyond that, we find no mention of a regulatory status, which should not surprise us given the broker's location. The government of SVG does not include Forex trading in its regulatory framework, and we can safely conclude that Crypto kartal is not subject to any regulatory oversight.
Estonia is a member state of the EU and regulates Forex trading. However, after inspecting the online register, we can safely conclude that Crypto kartal is not regulated in Estonia either. Moreover, after testing the broker's "trading platform", one can accurately say that there is no CFD trading at all. The scam here is probably only for the first deposit.
This is very typical for scammers, and you can see it often when checking offshore brokers. Everything that has been elaborated above suggests that potential clients of the broker are exposed to a significant risk.
We urge traders to eliminate such risk when trading by working only with brokers that are regulated by reputable regulators, such as the FCA and CySec. These require compliance with several strict rules that significantly ensure the safety of client funds.
Account segregation is among the rules that are particularly important in the trading world, because they drastically reduce the risk of possible commingling.
Another reason is participation in a compensation scheme, which covers the client's losses in the unlikely event that the broker goes bankrupt or tries to defraud traders.
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Crypto kartal deposit / withdrawal methods and fees.
Potential clients of the broker have a wide range of payment methods at their disposal. They can deposit or withdraw via Visa and MasterCard, wire transfer, Bitcoin, OK Pay, Flexepin.
Crypto kartal openly states that no withdrawal fees are charged. However, there is one caveat: it states that there may be circumstances where fees apply.
However, not all brokers are as open with their withdrawal terms as Crypto kartal is. Without proper information on the website, one cannot be sure if he will not be charged unexpected withdrawal or deposit fees after investing. Subsequently, you can also try withdrawing a small amount to find out unexpected fees or delays. Such fees and delays are usually signs of a scammer.
How does the scam work?
Information is a pretty solid criterion for judging the legitimacy of a broker. Fraudsters would not share much of their information as that is exactly where inconsistencies and irregularities can occur, exposing the entire setup. A good example is this broker and the lack of crucial information about the company behind it.
After learning about the broker's trading conditions, traders should be aware of the scam:
When you click on an ad that contains promises of fast money, you will be redirected to a website like Bitcoin Evolution or Crypto Revolt. When you register, you have to provide your address, email address and phone number. After you share your personal information, you will receive calls from brokers forcing you to invest with them and earn big profits. After a few minutes of hearing the pitches, you decide to deposit 200-250 USD. And just like that - the scammers get a fat commission from this initial deposit.
After they are done with you, older scammers start trying to get you to invest even more money. As if, it is the only way to profit from trading even more. After you make the mistake of investing even more, you will want to start walking away from it and withdraw what you have left.
Unfortunately, the scammers don't want you to. They will now convince you to wait it out and not withdraw now. The motive behind this is quite simple: merchants have a limited window of time to submit a chargeback to their bank and get their money back. The "recovery department" simply wants to tempt you to miss this crucial time and lose any chance that you will get the money back.
What can you do?
As mentioned above, fraud is widespread in the trading world, and unfortunately, you may suffer from it as well. In such unfortunate case, you may still have some options available to you.
You can contact your bank or credit card provider and file a chargeback. Moreover, due to the high incidence of fraud, Visa and MasterCard have decided to avoid forex fraudsters as much as possible. The first thing seen so far is that MasterCard has extended the previous deadline of six months for filing a credit card chargeback to one and a half years.
However, if you have given the broker your credit card information, cancel your credit card immediately.
If you have provided information on your online banking passport, change it immediately!
Beware of possible calls from self-described "recovery agencies"! They prey on defrauded and vulnerable merchants who are desperate to recoup their losses. They require an upfront payment to help you, but after you pay them, no such help will come your way!
To ensure the safety of your money, we recommend checking the broker first. Before investing in 2019, use the internet, read the reviews and then start with the smallest amount of money possible.
Check out the Gekkoin among the cryptocurrency brokers we can recommend. If you want to invest, we recommend the instruments that have already proven themselves on the market. In this context, one particular project stands out: what if you combine low-risk deposits with high returns achieved through cryptocurrency investments? Meet Gekkoin - a service for investors that makes crypto assets available and guarantees the protection of your investment. Curious about how it's possible? Here are the details.