CryptoGo365 broker, The company is doing quite literally anything in its power to hide any bit of useful information on its website.
This is not all that the broker hides though. This trading firm makes it impossible to get an account unless the client has a referral code ensuring that they have a final say on who gets to create an account.
All in all, it is a massive red flag when a brokerage goes this far out of its way to hide crucial information that all investors should be on the lookout for when choosing a trading firm.
|Address||Beachmont Business Centre, 297, Kingstown St. Vincent and the Grenadines|
|Mon-Fri 8:30 am-6:30 pm|
Regulation and Safety of Funds at CryptoGo365
Checking which regulatory agencies a broker complies with and is licensed by is the first thing any investor should do if they would like to protect their funds.
If one were to do this for the CryptoGo365 broker, they would find that the brokerage operates from St. Vincent and the Grenadines, meaning no tier-one regulatory agencies regulate them.
Additionally, the local financial authority, FSA, has warned that it does not provide licenses for forex trading.
This means that trading with CryptoGo365 is highly unsafe as they are not in compliance with any of the rules put in place by top regulatory bodies that are made to protect investors from predators like this one.
Review of CryptoGo365 Trading Platform
This broker brags about how they have created a trading platform that will meet the needs of even the most demanding investors.
However, we could not get access to test the platform ourselves as the broker requires a “referral code” to register with them.
This is another common mark of an investment scam. Basically, the broker uses this referral code as a means of choosing their clients in another attempt to avoid authorities altogether.
This means that clients do not select CryptoGo365; the broker decides who they let in.
CryptoGo365 Deposit and Withdrawal Methods
Since we were unable to create an account with this broker, we cannot say for certain what deposit methods they accept. Their website says they accept payments via:
However, this is often a lying scam broker says while nudging their clients to make payments in untraceable ways such as using cryptocurrency.
In terms of withdrawals, the brokerage has set up a neat little way to never pay any of its investors by adding it to their terms and conditions in an incredibly vague and meaningless way.
They say that they can restrict withdrawals for certain account types.
The major issue with this is that they do not mention under what conditions they could limit/restrict withdrawals, to what degree they could limit withdrawals, nor do they note which account types this applies to.
Here’s an Example of How the Scam Works
Financial scams that are based offshore generally follow the same pattern. Potential victims click on a Facebook/ social media ad that takes them to a website where they are asked to give their email addresses in exchange for access to a video that will propose a get-rich scheme via investing with a brokerage.
Once the scammers have the email, they will berate the victim with lots of increasingly tempting offers to get them to make an initial deposit.
If this does not work, the scammer tries to get the victim to divulge other methods of reaching them where they double their efforts in getting victims to make a deposit.
Highly Recommended Forex Brokers
If you are unsure how to go about finding a legitimate broker that you could trust with your funds, you can take a look at this list of brokers that we have compiled for you.
Even in the case that you do not like any of the brokers below any broker on this list can serve as an example of some of the things that you should look for when choosing a broker.
Give it a try with a legitimate platform, and experience the difference.
|FXTM Broker||Cyprus, UK, Kenya, and Mauritius||4.5||10$ USD||Forextime.com|
|OctaFX Broker||SVG and Cyprus||4.4||100$ USD||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus, and SVG||4.7||100$ AUD||FpMarkets.com|
|XM Broker||Belize, Australia, and Cyprus||4.7||5$ USD||Xm.Com|
|HFM HF Markets Broker||SVG, Cyprus, and South Africa||4.3||5$ USD||Hfm.com|
|FBS Broker||Belize, Australia, and Cyprus||4.85||1$ USD||Fbs.com|
All in all, the CryptoGo365 broker is yet another investment scam that is based offshore in St. Vincent and the Grenadines. The firm displays just about every red flag that an investor should be on the lookout for when choosing a broker.
Primarily creating an account is impossible without a referral code which puts all the power in the broker’s hands to decide who gets access to their platform.
This also conveniently makes it very difficult to review the broker and spread information about them, as it is impossible to get an account unless directly approved by the broker.
It is also worth mentioning that even though the broker claims to accept Visa and Mastercard, it is doubtful that a brokerage with such poor trading conditions does anything legitimately.
Especially providing a payment method that the clients could use to get their money back when issues arise.
CryptoGo365 also states that they can limit/restrict withdrawals for certain accounts.
However, they do not disclose which accounts nor for what reason.
All of this culminates in a horrible trading environment for investors who are likely to get scammed.
FAQs About CryptoGo365 Broker
What Is The Minimum Deposit Amount at CryptoGo365?
The minimum deposit required by this scam broker is $250.
What Are Trading Accounts Available at CryptoGo365?
This scam broker offers the following account types: Rookie, Basic, Elite, Elite Plus, VIP.
What Kind of Trading Platforms Does CryptoGo365 Offer?
This broker offers its clients a web-based trading platform without any special features.