Cryptonix Review – 5 things you should know about

Cryptonix Review – 5 things you should know about

Beware! Cryptonix Team is an offshore broker! Your investment may be at risk.



Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.


Cryptonix is a London-based CFD forex brokerage attempting to pass as a crypto-exchange. It has its own web-based trading platform, offers a spread of $100 on Bitcoin and requires a $250 minimum deposit. These are not favorable conditions at all since the spread is twice the industry average and the minimum deposit is way too high for an unregulated brokerage.

Cryptonix Team regulation & safety of funds

Cryptonix does not state any sort of regulatory status on its website and regulation is just one of the many pieces of essential information which are nowhere to be found. This is mostly in line with the brokers attempt to imitate the lay-out of a crypto-exchange. Furthermore, a lack of regulation seriously hurts the brokers legitimacy and opens up potential clients to a number of risks.

Both the FCA and Cysec, the two top regulatory agencies, require compliance with a number of strict rules that lower the risk of fraud and give assurance for the safety of the clients funds.

One such rule is the segregation of accounts which forces the brokerage to handle the finances of the clients separately from their own and greatly lowers the risk of commingling. Another is a requirement for a starting capital of € 730 000 which weeds out scammers, since they do not have such liquidity.


Cryptonix deposit/withdrawal methods and fees

Having in mind its regulatory status, Cryptonix’s withdrawal and procession fees should come as no surprise. Potential clients of the brokerage will be charged $50, if they wish to withdraw, and there is also a further $10 procession fee. Such things should not figure among the trading conditions of a credible broker.

How does the scam work?

Although there are many ways you can get scammed in the trading world, it will usually be as follows:

Through an ad tempting you with easy and quick money you will end up looking at a website with a high-budget trailer video. The video will tell you that you need only register and give away your address, phone number and email. However, no money comes you way, only phone calls from brokers who have just been sent your personal data. After a few minutes on the phone you decide to deposit $200-250. You may not realize it straight away – but through your deposit the broker on the phone gets a fat commission of $50.

After the initial deposit, “retention” follows, and senior scammers begin working you into putting even more money. They say it’s the only way to profit from trading even more. After making the mistake of investing even further, you’ll begin wanting to get out of this and withdraw what you have left.

Unfortunately, closing the account won’t turn out to be as simple as you would like, or as easy. You’ll most probably be redirected to the “recovery department” where yet another representative will have some other trading opportunities to share with you. His game is pretty simple – he has to mislead you into waiting six months or more so that you may not file a chargeback with your bank and get your money back. That possibility forever closes when six months pass after the initial deposit with the broker.

What to do when scammed?

Unfortunately, there is no panacea for scamming and it is something which will always cast a shadow over forex trading. However, in case you are scammed, there are still some available options out there.

You may contact your bank or credit card provider and file a chargeback, but only within six months of the initial deposit, as was noted above.

If, however, you have provided the broker with your credit card details, immediately cancel your credit card.

If you have given information regarding your online banking pass – you should switch it asap!

So-called “recovery agencies” should not be trusted! Such agencies target scammed and vulnerable traders in an attempt to further swindle them into giving away their money. They will require from you an “up-front payment” in order to get your money back, but no such thing will happen!

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  1. I was trading with a Unfortunately I was too trusting and lost a lot of money, This company has now opened up under a different name cryptonix, still owned by wilkinsons development an offshore company they are not regulated and are a scam company stay away from them

    1. Guys can someone find further info about Johnny Sali Yusup who he is and where he is based because The Cryptonix Team is owned by this guy and not someone called Donald or Frank or whatever name they claim to go by.
      I have spoken to FCA and said that they will investigate it and also get involved the police for Fraud Crime.
      I only lost £300, which they tried to get more from me, but I always refused to pay a penny without seeing how I can withdraw some money first.

    2. Hi Suzanne, and any others who wish to read this.
      If you are contacted by The Cryptonix Team, as I was – RUN FOR YOUR LIFE!!
      There is no large payback when your “investment” matures etc etc.

      This is a ruse to part you from your money, nothing less.

      I made the mistake of believing my adviser (Ms Rebecca Mc Cann – probably not her real name) and Initially parted with $250.
      She started “trading” my account, and within about three weeks the stake I had made had doubled. A month or two later my $250 had grown to about $1800.
      Then the calls started coming in. I was told that I needed to invest more capital in order to take advantage of their expertise.
      At first I was reluctant, I asked for my $250 to be refunded first, and after quite a bit of haggling they relented and sent me back the $250.
      Now armed with the assurance this company could and would make refunds when asked, I agreed to up the ante and sent them $3500.
      My account really took off, and within a very short while, I saw the balance go up to $8800 or thereabouts.
      Thinking that recovering my $3500 at this stage would leave me a respectable $5000 with which to trade, I asked for my second refund ($3500)
      Essentially this would have placed me in a zero risk to my capital situation, trading only with profits.
      Ha ha ha. The next thing I knew was that my account was being traded furiously with just about all of the trades being heavy losses.
      I tried calling Ms Mc Cann on her London telephone number. After a lot of digging, I managed to get hold of her, at a Zurich based number that someone at the London number had let slip. She claimed that she had been on holiday, and that my account had been traded by a colleague, and the despite the heavy losses made, she was now back in control, and that things would look up in a few trading days.
      I then discovered that this business is not British based, it is in fact based in Sofia in Bulgaria.

      All this time, and despite promises to the contrary, my account has remained stagnant. All attempts to contact Ms Mc Cann have failed. A few e mails have got through to her, followed by promises that she’d get back to me, but no one at this company has contacted me again.

      I still have a credit balance of about $7700, but no refund of my $3500 has occurred.
      The account is not being traded, and I am certain that I have been royally ripped off.

      So, if you are tempted to trust The Cryptonix Team and hope that they will make you a bit of a profit from options trading, you are most probably going to be disappointed, as I was.

      If you want to trade options and crypto currencies, don’t make the mistake I did.
      Get hold of a UK based outfit that offers some protection from these very volatile investments.
      They may also lose you money, but at least they’ll have to account to the FCA to explain the losses.
      The Cryptonix Team can do as they like with your money, once they have control of it, and sending it, or the profits back to you is not on their list of priorities.

  2. I am trading with them now , I started with £250, I am up to just under £20.000, they said I have to pay 25% TAX before they can release it is this true !!!!

    1. It is a lie. They are just trying to make you deposit more.

    2. I invested £4000 in july investment account shows £19,400. They require £3350, to release the funds.

      1. they say this is for taxes ‘35% CAN THEY DO THAT

        1. did you get your money back?

  3. This is a very big scam that is going on. I just lost around $600, I only blame myself for not doing my homework properly. everything u said is exactly my experiance with this bogus team, they only wanted me to invest more money. when I noticed what they are doing after reading this information, I put my money for refund on Friday the 17 of Aug. what I got as balances on Tuesday the 21 is less than $20. so I knew immediately that is a big scam.

  4. yes its a scam.. the same company that runs vipcrypto
    runs this ones located out of tel aviv israel

    some dude name morano
    i have a team investigating them and willing to pay for more info
    they took money off my card with out permission
    just called visa and they reversed the charge

    1. Hi John when I went to my bank and called the fraud line they were not very helpful, they told me when I gave my card details to pay £500 that I had agree to that this means I am allowing them to take what they want, this can’t be right?
      So I am also having a battle with my bank.
      Have you had any luck

  5. I need URGENT help!!
    I have invested US$2500 as my bank refused to accept charge back since I have the credit card info with consent.
    They kept calling me to pay the tax as I have requested to close account and get back my money.
    Apparently the initial 2500usd made lots of money and I have to pay about close to 12000usd tax now before I can take back my deposit and earning???
    So I ignored the calls but last email sent to me stating that they will not contact me anymore and I shall wait for the FINE from the UK tax department??!!
    I am very worried and stressed!!
    Please someone help to advise which government agency I can go for help?
    Thank you

    1. Try contacting FCA. Don’t worry about the taxes, you will not be fined.

      1. TheForexReview
        How is this firm allowed to keep trading? They’re clearly ripping people off. They’ve got my money as well. Can you help us get them shut down so they can’t hurt anyone else?

      2. I tried contacting the FCA. They said it does not come under their jurisdiction

    2. there no tax its just there last hope to scam you again
      dont fall for this trick go to Tel Aviv and get your money

  6. I too went against my “always be suspicious” approach to this type of “investment, I was fooled by a false report in the “Daily Mirror” newspaper involving Dragons Den. I’ve lost £3,000 and only discovered that it’s a scam after trying to withdraw. I have had the “tax” email, a load of rubbish, I am responsible for paying UK Capital Gains Tax!

    Cryptonix has a UK “base” in London at 20-22, Wenlock Road, London, England, N1 7GU – a Brass Plate address – and “Customer Support” is based in Hong Kong, hence the broken English emails!

    The UK branch of this operation is linked to WILKINSON EUROPE LTD, Company number 10941105, with one Director, Johnny Sali YUSUP, an ACTIVE Director, appointed on 31 August 2017, Nationality Filipino, Country of residence Philippines, Occupation Tech Support!

    I have told Companies House about this Scam connected to Wilkinson but there is nothing that they can do. I have given a comprehensive report to the Police (, who I know are actively pursuing this case. Perhaps other UK based individuals should make a similar report to highlight this issue?

    I have written off my “investment”, I was truly suckered here!

    1. I to was scammed by Cryptonix Team only for a deposit of £250.The trades on a robot were not making much profit after 3 weeks so I lost interest in looking at the site .This came as from yours Dragons Den so I thought I would just leave the trades with the robot.After 3 weeks I was contacted by a member of their staff asking what was happening with all the withdrawals I had made for £250 he said why do you only want that amount back as he explained there was £46000 plus siting in my account.I told him I would look at the account when I returned home.He told me that if I wanted to take any of that money out of my account I would have to pay the Tax first at 22.5% through their Tax implications company Mirabaud.Later I had a phone call from a Steve Royce who told me that to get my £4600 I had to send to their Bank £10500 for the tax my reply was I don’t think so you can take the tax at sorce .The reply was that they could not do that the money was in a block chain.So to this day the money is still sitting apparently somewhere.I still have a withdrawal Pending for £250 with Cryptonix Team.Anyone know how this 46k can be retrieved and pay Tax to HMRC.?

  7. no not true your tax responsibilities are your concern not there’s

  8. cryptonix ist das berügerischte portal das ich je sehen musst
    wenn einer scho geld einbezahlt hat machens sie wie ich ,
    wünschen sie den verbrechern eine schöne party
    denn diese armlechter meinen wenn sie mal ein wenig geld
    einberrogen habensie siend wer sind sie auch ARME WÜRSTCHEN

    Translated from German:

    cryptonix is the new portal I’ve ever seen
    when a scho money has paid off, she does like me,
    wish the criminals a nice party
    because these poor people mean when they have a little money
    Having been incensed they are also POOR SAUSAGES

  9. habe heute noch einen anruf erhalten habe mine tradseite nie gesehen
    300e haben diese verbrecher schon sie wollen noch mehr haben mach ich nicht
    man sagte ich könne das geld auszahlen lassen was ich nicht glaube.
    sollte ich neue infos haben schreib ich erneut

    wie gesagt ich habe nicht einen trad gemacht

    Translated from German:

    I’ve received a call today have never seen mine tradseite
    300e have these criminals already they want to have more I do not
    I said I could get the money paid out, which I do not believe.
    If I have new information I write again

    as I said I have not made a trad

  10. Hi I am currently in the process of dealing with this scam company. I stupidly agreed to spend £500 and they took all of my money from my account without my permission. They say that I have made £600 but I have to sign a form and send my ID to close my account.
    As I did not agree for them to take the amount of money that they took surely this is fraud/theft so can my bank raise a dispute or a chargeback?
    I can’t believe how stupid I have been, can anyone give any advice?

  11. Vip brokers, vip-Crypto, vip-trades, InsightsTrader, Tomorrowinvest, Johnny Sali Yusuf, CryptonixTeam – Filipe Reyes,
    Cryptonicks Ltd., Intl-Sec Ltd OU, and Trading Point Holdings all seem intertwined

    (Also the old Hawkedode and BestTrades)

    Johnny Sali Yusuf is the front guy who signed for address at Wenlock Rd, London. That is just an office that takes messages etc. No physical office. If anyone in London, get a court order to see the “know your client” details. Manager says she has them, but need an order or a policeman to ask for them

  12. Hej has anyone ever gotten their money plus winning after paying the tax? I’ve just noticed that the tax procentage for other is either 35% or 21% mine was 21,5%. I’ve paid it by transferring by my self wich was pretty stupid, since it makes it impossible to get a charge back. I deposited 3750 I was at 19629,95 euros, and last week I paid 4220,44 tax money. I transferred it to a German (Fidor bank ag). Paying the tax was stupid, because now I can’t contact them. What can I do to get all my money back? Because I don’t feel like giving up, but they have blocked me every where I don’t even know how to contact them.

    1. what is the outcome?

  13. Achtung – so ein unverschämtes Geschäftsgebaren habe ich noch nie angetroffen. Die Telefonverkäufer sind nur darauf aus dass immer mehr eingezahlt wird. Seit 4 Wochen versuche ich an mein Geld zu kommen – bisher erfolglos. hat jemand einen Rat

    Translated from German:

    Attention – such an outrageous business behavior I have never encountered. The telephone sellers are only out that more and more is paid. For 4 weeks I try to get my money – so far unsuccessful. does anyone have any advice?

  14. RAY,

    I on a whim invested 185 pound which was increased to a 250 pound credit card
    charge by Criptonix .I realized I had been stupid and immediately canceled my card and requested a charge back this is on going, keep getting phone calls to give further details to comply with account rules have declined.I have made over 400 in profit so they say keep it I say send deposit back ,first and last time I do this.
    Be warned O.K.

  15. Hi, I am in South Africa and also invested around $2300 with them and currently sitting at $13300 and requested refunds but nobody getting back to me as well. Was also told of the Tax implications but nobody responding to any emails. A guy by the name of Donald Crawford was the Portfolio manager and now a new persons details on my Account page by the name of Daniel Hoffman.I have put in 4 requests for withdrawals and not one has been approved to date. This is a scam and any way to recover any funds or whom can we escalate this scam company too???

  16. I too was nearly taken in by the so called “cryptonix team”. i invested an initial £250 at beginning of November and was introduced to Remi Smith who tried to get me to invest more into my account after it had reached some £1,600 in a few days. I was very cautious and he got very frustrated with me for not investing more. I had no contact with him for a couple of weeks as I said I wanted to see how things went. Lo and behold by the end of November my “investment” had reached the very dizzy heights of £104,000. At this point he e-mailed me to say he had closed my account (no permission given) and transferred it to the “recovery department” who would be in touch to allow me to withdraw this large sum. True to his word I was contacted to be told that in order to get my £104,00 I would first have to pay 24% tax (£24,960) to allow the £104,000 to be released. I stupidly signed a finance agreement on 3 December with Hitachi Personal Finance for £25,000 in order to pay the tax ( Hitachi are unaware they are being used for this). Later that night I suddenly woke up to what I had been doing and the following morning phoned up Hitachi and immediately cancelled the loan and advised Hitachi what had been happening. They have passed on my information to their fraud department. Fortunately I woke up in time to realise what was happening and I have only lost my initial investment of £250 but they are so believable that you get sucked in with the promise of substantial rewards. As someone mentioned earlier my initial investment came from an article I had read regarding investment made in a similar scheme by some of the Dragon’s in Dragon’s Den. I hope this comment helps others not to get duped like I nearly was.

  17. A question? has anyone who did a withdrawal has seen there balance go down to 0 in the MY ACCOUNT tad?
    my actual balance was moved to the total withdraw

    Your Balance 0.00€
    Total Deposit 415.70€
    Total Withdraw 11205.49€
    Total Bonus 0.00€

    And in the withdrawal request tad, I saw this!!

    12/04/2018 02:03 11205.49€ Money transferred to the user

    I’m just curious should I wait or should I cancel the payment that I sent to liquidate my account?

  18. I initially invested 250 plus 2000. Donald Crawford(Alias) took 3 further payments from my credit card, i stupidly paid 5500 tax on foot of forged document on Mirabaud Bank Geneva.
    I contacted mirabaud bank to verify the document, to find it was forged.
    Of course the trail died and Mr. Crawford Is laughing.
    I recovered the fraudulent deposits through Charge back. Some consolation at least.
    Mirabaud and Visa have referred it to their fraud departments. I also reported it to the police. any action must be taken in the country where the payments go to. In this case it is Bulgaria.Pursuing this would be a waste of time.
    Some months later Cryptonix team contacted me saying their solicitor would recover my deposits for me , but for a fee of 2500., which of course i ignored.
    I dealt directly with chargeback.

  19. Although the FCA say that it is not in their jurisdiction, surely they have a duty of care to protect UK citizens from such activity. Firstly that is what the FCA are there for and secondly this activity brings the whole sector into disrepute and jeopardises the genuine platforms. At least shut down the website.

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