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

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CryptoWealthExpert presents itself as a trustworthy investment intermediary through which we can realise profits in the financial markets. But fact-checking reveals that it is an anonymous web-site that seeks to deceive people without sufficient experience and knowledge of financial trading. In this review, we will show you how to identify such scams and how to find a legitimate forex broker that suits your needs.

CryptoWealthExpert Regulation and safety of funds

Guaranteed FundsSegregated AccountsNegative balance protection
CryptoWealthExpert
UK regulated brokers£85 000YesYes
EU regulated brokers€20 000YesYes
AU regulated brokersNoYesYes
US regulted brokersYesYesNo

The first red flag that we are dealing with a scam is the complete anonymity of CryptoWealthExpert. Even the Terms and Conditions and other documentation on the website does not name a company.

Legitimate forex brokers provide clear and detailed information about the legal entity that owns and operates them, where it is based, what licences it has and which regulators oversee its activities.

No office address is listed on the website and the only method of contact is email. The Terms and Conditions state that the CryptoWealthExpert is based in St. Vincent and the Grenadines (SVG).

SVG is an offshore zone with no broker regulations in place. As soon as you open the website of the local Financial Services Authority you see a warning that the institution does not licence forex and other types of brokers and does not supervise the activities of International Business Companies engaged in such activities.

The British financial authorities have blacklisted CryptoWealthExpert , suggesting that this website is a scam and not just an unregulated offshore broker.

If you have decided to invest in financial instruments, and especially if you are a novice trader, you should use the services of a licensed broker based in a jurisdiction with strong regulations.

Depending on your location, it is advisable to choose a company that is regulated by an institution such as Commodity Futures Trading Commission (CFTC) in the US, Australian Securities and Exchanges Commission (ASIC), UK’s Financial Conduct Authority (FCA) or some EU regulator like Cyprus Securities and Exchange Commission (CySEC).

Clients of these brokers receive protections such as negative balance protection and segregation of the client’s funds from the broker’s funds.  In the EU and the UK, brokers must also participate in guarantee schemes that cover a certain amount of the trader’s investment if the broker becomes insolvent. These guarantees amount to up to 20 000 EUR in the EU and 85 000 GBP in the UK.

CryptoWealthExpert Trading software

Analytical toolsAuto tradingCustom indicatorsMobile apps
CryptoWealthExpert platform
MT430+ indicatorsAndroid and iOS
MT550+ indicatorsAndroid and iOS
cTrader40+ indicatorsAndroid and iOS

CryptoWealthExpert implements a standard-looking web-based trading platform. Here’s what it looks like:

While this platform has the basic functionality to place orders, it cannot compare to the capabilities provided by MetaTrader 4 (MT4) and MetaTrader 5 (MT5). It is no coincidence that these platforms have established themselves as the industry standard. They offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.

It should be noted that the presence of a trading platform does not make this website any more legitimate and does not guarantee that this alleged broker offers real trading. Many scammers use rigged trading software to fool their victims that their money is being invested.

CryptoWealthExpert Trading instruments

CurrencyStocksIndicesCryptoCommodities
CryptoWealthExpert
XMYesYesYesNoYes
FBSYesYesYesYesYes
FXTMYesYesYesYesYes

CryptoWealthExpert claims to offer trading in currencies, commodities, stocks and indices. But we have no reason to believe that this anonymous and unregulated website offers real trading. There is no reason to take risks with such fishy websites when there are many established and regulated forex brokers.

CryptoWealthExpert Spreads and cost of trading

CryptoWealthExpertXMFBSFXTM
Spread EURUSD1.20.611.1
Spread GBPUSD1.21.31.21.4
Spread USDJPY1.21.31.21.4

CryptoWealthExpert  does not provide information on the base trading parameters, including the price paid by the client. In the trading platform we see a typical spread of about 1.2 pips, but we have no idea whether CryptoWealthExpert  charges additional commissions.

CryptoWealthExpert Maximum leverage

ForexStocksCryptoGoldIndices
CryptoWealthExpert400:1100:110:1100:1100:1
UK regulated brokers30:15:110:110:1
EU regulated brokers30:15:12:110:110:1
AU regulated brokers30:15:12:110:110:1
US regulated brokers50:1

A high leverage of 1:400 is set in the trading software. This is not a level that you see with regulated brokers. Trading with high leverage allows higher profits, but also increases the risk of sudden and excessive losses proportionally. All leading regulators limit leverage for retail traders.

If you are willing to take the risk of trading with high leverage and benefit from bonuses and promotions, the best option is to invest through an offshore division of an established brand.

CryptoWealthExpert Deposit and withdrawal methods

CryptoWealthExpert does not provide information on payment methods and the deposit menu is not active. It is typical for financial scams to direct their potential victims to cryptocurrency transactions that do not allow for chargebacks or chargebacks to be requested.

Legitimate brokers typically offer clients a wide choice of transparent payment methods, including bank transfer, credit/debit cards and established e-wallets such as PayPal, Skrill or Neteller.

CryptoWealthExpert Minimum deposit

CryptoWealthExpertXMFBSFXTM
Minimum deposit$250$5$10$5

CryptoWealthExpert specifies a minimum deposit of 250 USD, which is the industry standard.

But this means that for the same amount you could open a trading account with an established and duly licensed forex broker. Some of the leading brands in the industry offer Micro and Cent accounts with a very low entry threshold that are suitable for novice investors.

CryptoWealthExpert Withdrawal requirements

Trading volumeFee/Tax on withdrawalMinimum withdrawal
CryptoWealthExpertLots=bonus/2$30$50
UK regulated brokersNoNoNo
EU regulated brokersNoNoNo
AU regulated brokersNoNoNo
US regulated brokersNoNoNo

The minimum withdrawal amount is 50 USD and CryptoWealthExpert charges a whopping 30 USD withdrawal fee. Genuine forex brokers do not normally charge transaction fees.

But in order to be allowed to withdraw funds from your account, you must meet the vaguely described requirements for minimum traded volume – number of standard lots equal to the amount of the bonus received divided by two.

This is a typical scam trap designed to block any withdrawal requests.

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