Beware! AllCryptoMarkets.com is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
AllCryptoMarkets.com relies heavily on visuals to deliver what is otherwise a very common shady FX experience. Casting the impressive imagery aside, what users are left with is a a templated website that takes more from other unregulated brokers than it gives. Therefore this broker can easily be mistaken for the thousands of unlicensed brokers out there, all of which share, more or less, the same fraudulent elements. Read the review to know what to look out for in AllCryptoMarkets.com.
We start with a complete lack of a registration page, nowhere to be found on the website. All access points lead to a login page. This means that AllCryptoMarkets.com hides its registration page only to certain users, making this a soliciting broker. We are referring to a broker that stalks users, advertises to them fake services on social media sites, and once they fall for the false claims, AllCryptoMarkets.com clamps on them. Read about this solicitating method in the “how does the scam work” section of the review.
Without an access to the client portal, we must take all the trading and payment details from the website. Once we figured that out, two things started bothering us. The website is, for one, very limited in terms of information, with noticeable empty spaces in-between the small pockets of text. And second, what we do have as information is unreliable.
With that said, the broker claims to be offering four account types, and absolutely no further trading conditions. Judging by the crypto-based imagery, and the name of the broker, this one seems to focus on delivering crypto trading services, but how efficiently it does so, we do not know because we had no access to a trading software.
ALLCRYPTOMARKETS.COM REGULATION AND SAFETY OF FUNDS
The jurisdiction policy, as well as the other legal docs, state that it’s the users’ responsibility to comply with their own local laws should they wish to use the site of AllCryptoMarkets.com. So the broker expects users to be authorized to interact with it, and not the other way round, the actual way that it’s supposed to be! This kind of assertions are typical of any scammer broker out there.
Moreover, there is no mention of an address nor a regulation, god forbid. We have no idea where AllCryptoMarkets.com is located, making this entity completely anonymous.
By now, we have reached a point in our career where all anonymous brokers are automatically considered as the worst breed of the unregulated bunch, becaeu they have the audacity to not even include a fake address. Imagine how little effort they put into their scams, and thus how little they care of their users.
All anonymous brokers are unregulated, and so is AllCryptoMarkets.com. This broker does not have a license, and is therefore a scam!
Unless you wish to throw your money away for no reason , there is absolutely no incentive for investing in unlicensed brokers. In fact, you would be doing them a big favor by funding their further fraudulent projects. If you wish to trade real FX and CFD with regulated brokers, looks no further that those that are regulated, especially in well known locations such as Europe, the UK, the US, or Australia. The regulators there are pedantic to a ridiculous degree and will do everything in their power to uphold the rights of the user and the integrity of the market industry. It is within their power to penalize brokers and demand client compensation, as well as to set industry standards and introduce new rules and regulation.
ALLCRYPTOMARKETS.COM TRADING SOFTWARE
The broker can talk all it wants about a trading software, but without any proper evidence all we have are empty promises.
We don’t expect AllCryptoMarkets.com to deliver any trading terminal, and even if it somehow manages to showcase a software, we are sure that it would be a very inadequate one.
ALLCRYPTOMARKETS.COM DEPOSIT/WITHDRAW METHODS AND FEES
The minimum deposit advertised on the website is $250. There are mentions of credit cards, debit cards, and wire transfers throughout the legal docs, as the available payment method types.
According to the withdrawal policy, the typical processing time for withdrawals is 5 days. The minimum withdrawal for banks is set at $1000, while the minimum for cards is $100.
As for fees, the company mentions some here and there but it never specifies on them, leading us to believe that these commissions are arbitrary.
And that’s all the payment details we get, none of which are to be trusted considering they are taken from the site of an unregulated broker.
HOW DOES THE SCAM WORK
Getting scammed usually happens without you knowing it. It’s a deceivingly simple process that owes its success precisely because it seems so avoidable.
First, there is the matter of getting in contact with the broker which happens in one of two ways. Either it contacts you, or you it. If it calls, it means that somewhere in your net journey you accidently left a phone number or an email address. Or you were persuaded by the broker to contact it, which is why many scammer brokerage sites looks so appealing.
The hardest thing to achieve, for a fraudster, is to convince a user to invest an initial deposit. Prior to this a certain level of trust must be built, centered around a false sense of rapport. The broker will fake an interest in the user and in the process talk about market and profit opportunities, as well as investment choices. It’s all a part of a retaining strategy that will keep the user invested for at least a couple of thousand dollars, on average, until, eventually, he realizes the scammer pit he has fallen in.
When this happens, the broker will seize all contact with the user, and might even block the client from the website. It will go to great lengths not to return a single penny of the user’s money.
WHAT TO DO IF SCAMMED
The first thing you should do it to file for a charge back. That’s if you have invested by means of a credit or debit card. MasterCard and VISA have a chargeback period of 540 days giving users more than enough time to try to get their money back.
Wire transfer deposits are not as easy to acquire, and the best advice we can give you is to set up a reimbursement strategy with the bank leading the transactions. Most banks have strategies put in motion when these circumstances are met. Furthermore, if scammed via a wire transfer, it’s best to change your bank account user name and password.
Unfortunately, all crypto deposits are most surely lost for good. These transactions are untraceable and therefore once they reach the scammer end it all depends on the fraudsters if you see your money back or not.
Lastly, do not trust recovery agents or agencies. These are either separate scammers trying to get a hold of any leftovers, or can even be an extension of the brokerage scam!