Crypto-dock.com review – 5 things you should know about Crypto-Dock!

Beware! Crypto-Dock is an offshore broker! Your investment may be at risk.

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

Crypto-Dock operates under the bold moto that it is the “future of finance”. If the future of finance looks like the unlicensed broker we have covered in the review below, things seem quite grim – here is why:

Crypto-Dock regulation and safety of funds

Crypto-Dock is completely unregulated – the company also hails from an incredibly shady offshore location, the island nation of St, Vincent and the Grenadines. Here is the broker admitting to that:

The problem with St. Vincent is the fact that its government has come out with the explicit refusal to regulate its Forex markets. This makes the country incredibly attractive to scammers of all kinds – hundreds of them set up their phony companies there and run their schemes unopposed.

In general, the only way to know that a broker is not running as scam is for that broker to have a license with a strict regulatory body. That also entitles you to protections from the volatility of the Forex markets depending on the regulatory practices of the body that issued the license. To give an example, in the UK, companies are required to participate in guarantee funds – in the case a firm goes down, its clients will be entitled to a compensation of up to 85 000 pounds per affected person.

Always make sure you are trading as safely and as profitably as possible – stick to licensed companies!

Crypto-Dock trading software

Crypto-Dock’s account creation service was down at the time of writing – therefore, we could not make an account to make use of its platform. The broker mentions it is a web-based one, but we sincerely doubt it holds up when compared to industry standard Metatrader 5 – the savvy trader’s preferred platform. It has become such a massive hit on the market with its powerful automated trading features and user-friendly interface.

But, back to Crypto-Dock – the furthest we got with its platform was the following screen:

This means that we cannot know what the trading conditions with the broker actually are – how wide its spreads are and how big its leverage is. This is another reason to avoid the broker – trading with it might prove quite fruitless.

Crypto-Dock deposit and withdrawal methods and fees

Crypto-Dock does not state what deposit methods it takes. If you have managed to deposit with the company, however, we suggest you look for a way to file a chargeback – Crypto-Dock does not share what its withdrawal policy is in sufficient detail and what its fees are – and such open-ended clauses are ripe for abuse from shady offshore brokers like Crypto-Dock!

How does the scam work?

Given everything discussed above, it seems that the conclusion that Crypto-Dock is running a scam is undeniable. What’s more, the company is not doing anything new when it comes to scams. We have seen this exact kind of scheme take place hundreds of times before. Here is how it goes down:

First off, someone stumbles upon the scammers’ website – and on it, they are prompted to make an account. If they decide to do so, they are required to leave a phone number – and though this might seem innocuous, the scammers rely on phone calls greatly – they call around the clock to manipulate their victims into depositing ever increasing amounts of money, until they either run out of money or realize they are being conned – at which point, the scammers simply move on to new targets!

What to do when scammed?

If you have been scammed, you need to take the following steps to make sure you do no suffer further losses:

First off, recall what forms of ID, credit cards and so on you gave the scammers access to – and get new ones issued ASAP. Also, remove any form of desktop sharing software they had you install on your PC.

Secondly, you should contact your bank and have them walk you through your available chargeback options – this is the best way to recover losses. Beware of recovery agencies – especially ones that demand an upfront payment for their services, as they are all scams!

Finally, please consider leaving a comment in the section below with your own experience with Crypto-Dock – this will help build awareness of the scam, which is the best way to combat it!