Cryptrader.io review – 5 things you should know about cryptrader.io

Cryptrader.io review – 5 things you should know about cryptrader.io

Rating: 1

Beware! Cryptrader.io is an offshore broker! Your investment may be at risk.

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Cryptrader.io is an offshore cryptocurrency broker that’s offering a limited number of pairs to trade. They claim to provide an intuitive, powerful and advanced trading software, but that can’t be farther than the truth. It’s a suspicious entity, and we are going to show you why in the full Cryptrader.io review.

Cryptrader.io REGULATION AND SAFETY OF FUNDS

Cryptrader.io is a trading name of Modular One LLC, a company allegedly incorporated in St. Vincent and the Grenadines. Well, the Caribbean island is a shady tax haven not even regulating Forex brokers, and that’s why it’s bustling with scammers. Furthermore, the company mentioned is anonymous, and it’s impossible to find anything about it whatsoever. We can’t even verify there is such a legal entity in existence at all. As Cryptrader.io is anonymous and unregulated, we can conclude that your funds won’t be safe if you deposit with the broker.

Avoid it and better consider the high-rated EU brokers and British brokers, which are adequately regulated and, most importantly, covered by deposit insurance funds. Hence, if you trade with a CySEC broker, you can claim up to 20 000 EUR in compensation, while the British protections are up to 85 000 GBP per person. The guarantees ensure an extra layer of protection, so it’s worth opening accounts with European companies.

Cryptrader.io TRADING SOFTWARE

Cryptrader.io is noisy about the platform it provides by claiming it’s powerful, flexible, reliable so on and so forth. In fact, it’s a flawed piece of web-based software that’s totally useless for trading- there are not enough indicators, the drawing tools are deficient, and the chart is not even scalable. Cryptrader.io is delivering a futile platform, which is more than enough for you to stay away.

That said, consider the high-rated MetaTrader4 brokers and MetaTrader5 brokers, which are safe and deliver the best trading terminals. The MTs are packed with sophisticated features such as Expert Advisors, complex indicators, and first-class charting tools. MetaTrader also comes with a Marketplace where traders can find more than 10 000 apps, and that’s an unrivalled advantage.

But things are getting worse, actually. Suspiciously, there are cryptocurrency traded instruments only. We need to note that crypto pairs were more than once exposed as prone to fraud and price manipulation, so you should stay alert. On top of that, though, the BTC/USDT Buy/Sell difference is floating around 340 points, which equals some 340-350 US dollars. That’s a scam! On the other end, many legit brokers provide Bitcoin to USD for much less than $100, so it’s not worth wasting your time with suspected scams like Cryptrader.io.

The leverage is ranging between 1:10 and 1:40, and that may seem not as risky, but such levels are inappropriate for cryptocurrencies. Because of the extreme volatility of Bitcoins and other digital coins, many regulators limited leverage significantly. For example, EU brokers can’t offer higher than 1:2 while Britain entirely prohibited cryptos due to risks and potential fraud. Beware!

In fact, leverage is so dangerous that many regulators restrict its usage in their pursuit to reduce traders’ risks. As a result, EU, British and Australian brokers have to limit retail clients to 1:30 for FX majors, while Canadian brokers and US brokers to 1:50. Overall, most high-leverage FX companies are poorly or not regulated at all, so you’d better remain sceptical.

Cryptrader.io DEPOSIT/WITHDRAW METHODS AND FEES

The minimum deposit with Cryptrader.io is $250, which is slightly higher than the regulated industry standards- $100 on average. However, many legit companies have micro accounts starting from 5 to 10 dollars, so you have yet another good reason to find better opportunities.

The funding methods are said to be Credit/Debit cards, Wire Transfers and Bitcoin, out of which the first one mentioned is seen as considerably safer. Direct bank card funding allows clients to dispute transactions and eventually get a refund- for up to 540 days, depending on the case. On the other end, Bitcoin transactions are anonymous, too challenging to trace and non-refundable, and that’s why we do not recommend cryptocurrency deposits.

Nevertheless, check some Skrill brokers, Neteller brokers, FasaPay brokers, Sofort brokers, and Bitcoin brokers if you have trusted payment systems. The companies topping the lists are adequately regulated, and you won’t face scammers if you choose among the high-rated ones.

The minimum withdrawal is said to be $10, which is seemingly a favourable requirement if only the broker were legit. However, the fees are monstrous- the broker claims that withdrawals of less than $1000 are free of charge, but if the account is profitable, there is an inevitable fee of $30 per transfer. That’s a scam. Accounts with a balance of more than $5000 will have to pay $50 per withdrawal.

Also, there are accounts with credit and without credit, which should mean with or without bonuses accepted. And if traders accept bonuses, they need to reach a “Leverage Amount” traded- 20 000 times the bonus. Well, this is a shocking requirement, but even more shocking is the broker explanation about the matter- totally impossible to comprehend and indeed open to interpretations. Anyway, if traders fail to meet this obscure requirement, they have to pay another 20% in withdrawal fees. That’s a scam!

The inactivity fees are equally adverse. According to the clause, an account becomes dormant after only 60 days of inactivity and will be charged 10%/100 currency units (whichever higher). That’s a scam!

Overall, Cryptrader.io is a fraudulent broker we exposed, so make sure to stay away from this dodgy business.

A scam clause!

HOW DOES THE SCAM WORK

Today, the Internet is plagued by scammers and their deceitful deals. It all starts when you click on an appealing fraudulent offer and provide your e-mail and contact numbers. Scammers, as seasoned manipulators, would ring you at once, insisting that you should start investing as soon as possible. During the phone call, you’d be presented with bonuses, promotions, risk-free offers, Bitcoin opportunities, and anything else you could possibly imagine. Scammers would claim to work with reputable firms, banks, governments, and so on, trying to make their business appear legit. Those thieves lie big time and would promise you anything to gain your confidence and get a deposit from you.

However, the first deposit is just the beginning. Day by day, scammers would carry on asking for funds. If you lost, they’d persuade you to put more money and recover the losses. If you are profitable, you’d be asked to put more money and increase the gains. The headaches start as soon as you ask to take your money back. The scammers would do whatever it takes to discourage you and would even urge you to deposit again if you want to withdraw. The scammers’ mantra is “give me your money”, they’d push you to transfer more money over and over again for no obvious reason. Urgency is a treacherous sign, so if someone forces you to invest ASAP, that’s a scam.

WHAT TO DO WHEN SCAMMED

Unfortunately, no one is safe from scams. If you get defrauded, the first thing you need to do is to protect yourself from further risk. Deactivate your card immediately, contact your bank and ask for advice.

Report what happened to you, file a complaint, contact the financial regulator, contact other government institutions related to trading and investing, call the police if you feel necessary. Seek help actively!

Remember, it’s crucial not to rush blindly trying to recover your funds because fraudulent fund recovery agencies are trying to double scam the victims. They ask for upfront payment, take the money but don’t do anything to help you!

Last but not least, share online your experience; it’s important to inform the public about scams. Be responsible!

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19 Comments

  1. Stewart Whitehead

    having been with cryptrader for about 15 weeks started with 250 gbp and then over the weeks now stands at 3.300 gbp and they have lost the lot the only money in the account is the 2535 bonus that i can still use for trading but the profit is not mine until i place more money into the account , please stay well clear from this company. how can i get my money back .

    1. Im in the same situation. At the begining, with their help the acount balance has grown. After adding more money, they had a perfect tactics to get me down under the bonus amount, so I can not widhraw anything. Then they asked for more money, to get over the bonus, so they can send my money back … but I think, if I have done this, I would see anything of it no more.

  2. stay away from tis company they start talking to you nicely and showing you how to make profit even with the small deposit and after that they start to pushing you to deposit more money to make more profit if you say no to your account manager like Tate William, what he does he bring someone like Thomas Chase from VIP service to place few trade with the power of VIP service and make $1500 profit just in less than 15 min and he make you to write down how much you can make in each time with this VIP service he provide to you. He spend time as much as make you to believe him even when you say I don’t have enough money except if I get loan from bank he fool you to do it but the sad part start from here as soon as you deposit your money he disappear and they leave you with your account manager and others to trade with you and every time they make small profit and big lost till your money goes to $0 and even you loose your bonus slowly slowly and you are not able to withdraw any money however you explain to them you got the loan just because them they just keep telling you it is all happened because the market. today I feel so broken even I a to kill myself I can’t handle it. If you like to burn your life go and burn your money with cryptrader.io with Tate Williams and with Thomas Chase Luke Miller and Jaxson bester witch he burned $18000 in the first day. STAY AWAY FROM THIS SCAMMER….

    1. Hi Yas, sorry to read of your experience with this company and the effect it has had on you. Although losing money is a bitter pill to swallow im sure you can repay the loan over time. life is precious so i hope you can get through this.
      take care, Craig

  3. As far as I know, they wont let you have your money even you requested for withdrawal.
    good for you. you only lost 3.3k I lost almost 8k euro with this people.

  4. My friend ID:2577499 , he’s not well person at all .
    Colin, Henry, Ivory , Hana, Levy , Jeffery ,Daniel & Dakota
    all of them were like a gang to steal his money online.

    As I know & I have the solid concrete evidences,:
    Mr Ali (2477499 ) received a phone call on 30/06/21 @18:34 from Colin Jones & Henry Pretorius , they convened him to invest £250 but after their insistence and encouragement of these fraudsters, and their experience of hacking Mr. Ali’s mobile, were able to steal his money from his bank account as well as the account of Binance. On the same day they stole £5800.

    They made him sign many documents claiming it’s necessary procedures to refund the whole sum !!
    Actually they were laying and no intention to return any money.
    I have the whole screenshots and correspondending emails as well as recorded calls that proves that they are fraudsters and outlaws, and I hope everyone will help us so that they can be punished.
    This company does not know anything about investment, but they are professionals in theft and prevarication.
    This company does not have any website, address, or even a phone, and they are not registered anywhere and it is smart to stay away from them completely..

    Personally, I will do everything I can to get my friend’s money back, and I hope someone with experience can help.
    I hope you will help me lead these scammers to the cage of justice. I can send you all correspondence and photos of the account before they close it and after it is closed.

    Labid.

  5. Cryptrader is a scam, I lost all the money I added to the account, be careful and do not let them fool you, they will convince you that they will recover the account and only waste your time!!

  6. Innocent hard working investors BEWARE
    A total bunch of cowboy scammers.
    They should be shut down and imprisoned.
    I have never in all my life had a bad experience such as with Cryptrader the hard sell salesmen maskerading as brokers/traders/account managers, the non stop salesmen call night and day.
    They ask you to invest £250 then a further £2250, then they add a bonus of £2500 and they start trading with you.
    They will con you into believing their trading platform is for real.
    The first few trades are miraculously successful, your account balance goes up, they want you to invest more and more and more money.
    Invite you to the silver trading level which is bullshit adding to the con.
    The day you realise that you’ve been conned, only a few weeks in my case, and you need to get your money out and quick, that’s where the con really ramps up a gear.
    By the way, once you’ve invested money you have no control over your funds.
    So, you’ve decided that money needs to be withdrawn and quick, you contact the company many times. Eventually, an account manager/salesman/ con artist contacts you and via zoom informs you that to withdraw money you need to get your bonus up or something to that effect, you need to make a few trades.
    Of course, I knew my money was already lost, they placed a few trades, not really but pretending to do so, and guess what? My account balance of my money invested was suddenly wiped out….well was I surprised…of course not !
    If I track them down to an office location, each one of the scammers will receive a b**let to their heads …
    This trash needs to be eradicated.

    1. 100% smooth talkers major scam to b…..t through the head. Scum rip trader.

  7. Terrible experience with cryptrader.io. All they do is get your money and there isn’t any way out! They give you bouns but you have to trade 20,000*Bounce to let you take the money out!! It means if you invest 10,000 and they give you 10,000 bounce, you have to trade 200,000,000 before they let you withdrawal money!
    Looks like professional people but they just trade with your money, lose money and ask you to invest more and more until you lose all your money in their platform. Stay away from this site! Don’t make the same mistake!

  8. I was about to sign up. Until he asked for a deposit I said I will speak to my partner first. He pushed me to just doing it anyway. I immediately hung up on him.

    1. My ID: 2577499

      On 30,6,2021, I signed up to Cryptrader, after seeing it advertised online as a professional crypto coin platform. My intention was to see if Crytraders Yuan cryto currency rivaled the likes of Bitcoin (which I have had good experience with), aswell  as other cryto currencies.

      Note: I take strong medication which may have affected my ability to commune properly during audio calls and Zoom video meetings when talking with Cryptrader associates.

      Around three minutes after signing Into Cryptrader, I received a call from an associate named Henry Patricios, who spoke to me in my main language regarding Cryptrader as a cryto trading platform and their Yuan cryto currency. Henry advised me not to invest any more than the £250 with Cryptrader, which caused me to doubt that Cryptrader was as truthful and professional as they claimed to be. After giving me short introduction to Cryptrader their Yuan cryto currency, Henry put me through to my account manager, Collin Jones, and two others who I do not know the names of. Collin Jones asked me to install the Zoom Meetings app on my iPhone so that he and I could talk about Yuan, Cryptraders policies etc, which I did, and Collin and I talked for approximately 5 hours, Collin assured me that I was guaranteed to be rich in a short amount of time if I invested in Yuan, and throughout the long Zoom call, Collin asked me to share content from my iPhone with them, which I questioned and was told that it was important to our conversation. During one of multiple Zoom calls on the same day, Collin informed me that Bitcoin wasn’t legal where I lived, in the UK, which I was not aware of, but Collin had no objections to continue working with me despite knowing this. At some point during my conversation with Collin, I noticed that the £5000.39 I once had in my Binance account had been reduced to just £388 without my permission, which I have photo evidence of. A total of £2,188 was taken from my Barkleys and Binance bank accounts, and added to Cryptraders Yuan coin base, but when I questioned this I was told that my money would be returned to me in greater figures.

      Note: During this lengthy Zoom call I heard loud music and continuous swearing, which I found to be off putting.

      After finishing my conversation with Collin Jones, I spoke to Levi, a colleague of Collin Jones who continually lied me regarding Cryptraders Yuan cryto currency system, and much like Collin, told me that working with and putting my trust in Cryptrader would make me abundantly wealthy very quickly, assuring me that I had nothing to worry about now that my money was in their hands. Levi promised me that handing all the money in my Binance and Barkleys accounts to Cryptrader for a maximum of 5 hours would result in a great increase of money and ultimately a financially comfortable life.

      Note: Cryptrader gave me no way of contacting them except by email, something I found to be not only tiring but also humiliating after a while, since my emails often went days without being responded to.

      On 1,7,2021, I opened my Barkleys and Binance accounts, to find that I had no money in both accounts. It is my belief that Cryptrader took advantage of my unstable mental state on 30,6,2021 by hacking my Binance and Barkleys accounts, abstracting all my money from them and adding it to their coin base, all whilst expecting me to turn a blind eye to the utter thievery I was made a victim to. I emailed Cryptrader about my situation, and requested a withdrawal of all the money I had given to them, but I was told by another associate of Cryptrader named Daniel Rodner that I no longer owned the money I wished to take back, and therefore couldn’t have it back. Once again, I was told that I would be abundantly rich and wealthy in a considerably sparse amount of time.

      Note: Daniel Rodner instructed me on what to click with arrows on my laptop screen, which I have video evidence of.

      From 8,7,2021 to 13,7,2021 I was emailed by Ivory Axton, a Cryptrader Client Relations Manager associate who requested that I make an appointment with Mr.Hana, who I was told by Ivory would help me reconcile my issues with Cryptrader, and have 10% of my stolen money returned to me instantly if I followed Mr.Hana’s advice. I made an appointment with Mr.Hana as advised by Ivory Axton, and was met with a quick response.

      On 14,7,2021, Mr. Hana contacted me via voice call, I explained to Mr.Hana that I had been utterly robbed by Cryptrader, and informed him that my request for the compensation of all my stolen money was denied by Cryptrader. Mr.Hana was of no more help than Collin Jones or Jeffrey Porter on the matter, since he only kept avoiding most of my questions and rephrasing his previous words.

      A recently received a Final Settlement letter from Cryptrader, which instructs me not to take my scam situation with Cryptrader any further, or to tell anyone about my terrible experience with them. I have photo evidence of this letter which was sent to me by email.

      I DO NOT recommend Crypto Trader to anyone looking to make money from Bitcoin, as they will rob you of your very last penny. I believe that everyone who works for Cryptrader and knows their intentions should be prosecuted.

      ———————————————————————————-
      Important Note:
      With the exception of 30,6,2021, I have every phone call with Cryptrader recorded as evidence of my claims against them, aswell as all corosponding emails. I also have all the phone numbers Cryptrader used to contact me saved to my phone as further evidence.

      1. Another story, they get you to invest, go through an education program, do a couple of trades on line which are positive, then when you want your money back they do a scam and get you to think you are signing a return, when all it is is another scam trade which loses everything. MY ADVICE . LETS ALL GET TOGETHER AND FIND OUT WHERE THESE LOW ANIMALS LIVE.

        1. Have you tried to make a claim via your bank using chargeback ?

  9. I Haven’t put any money yet, but they have my mobile no and my card details and my address I send them for KYC verification?

    is there any idea to keep my personal details ????
    really appreciated your help.
    thank you.

  10. I’ve just got my account automatically suspended lately after losing more than a hundred thousand dollars in total (which makes my account balance almost $zero) including the Cryptrader.io bonus. Guys, believe the reviews here – you will lose your money! Partially, I sympathize with cryptrader.io for receiving so many bad reviews – it’s because the skill levels of their account managers are just not competent and applicable when it comes to the crypto market. The crypto market is highly volatile and manipulated by institutions because it’s unregulated. Also do not believe the account managers when they said they would make you more money or grow your funds – it’s just lip service and no accountability is seen. Once an account manager screws up, cryptrade.io will assign another one to sweet talk to you and start all over, conning you to want to invest more money for them to burn in the market. DON’T DO IT GUYS. LEAVE THIS WEBSITE ALONE.

  11. Absolutely right. This is a fraudulent venture. Professionally deceitful staff. Look at my emails to them recently after having been cheated.:

    It is very clear that your “company” is a fraudulent venture and for sure it is not going to be a great company of repute in the long run and people who are used as tools to loot peoples’ earnings will not be happy in their life as they very well know what scandalous work they are doing!

    Dears at Customer Support,
    I don’t agree.
    It is absolutely ridiculous and confirms to me the reviews about Cryptrader.io which I had shared with your colleagues Mr. Zain Hadid and Mr. Bernard Griffin.

    All your so many consultants and manager who kept changing from Mr. Grant Son to Mr. Zain Hadid to Mr. Bernard to Mr. Christian to Mr. Christo seems to have misguided and misled me to syphon my money with sweet words so fast. The transactions wherein heavy loss was incurred, were done under direct professional guidance of Mr. Christian and Mr. Collins.

    This also confirms to me why Omani Banks do not deal with dubious companies. Upon receiving your response, in the coming days, I will be contacting the Economic Crimes Department of the Police and Central Bank of Oman to caution and warn people about such companies and share the same with their GCC counterparts.

  12. Mr Nabhi Nandan Das

    I have been with Cryptrage for 6 weeks. The returns are good (average of 2% per day), although it’s not as good as they claim (4.5%). However, I have now been trying to withdraw some BTC since Friday (17/12/21). But, even after talking with Sebastian Novak and Preben Hensen of the company (Arbitrage Capital Inc) the BTC is not being released by the company. It has been 5 days now and it is not looking good as my original substantial capital at risk. They are now claiming that there is an anti–laundering review requiring me to furnish various documents, which I have submitted. Lets see how long this process takes. This is of serious concern for me. Will keep everyone informed.

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