CCX Crypto is an unlicensed Forex and CFD broker blacklisted by Spain’s financial regulator (CNMV) and warned by the Financial Commision(FinaCom), yet claim to be the first and most inventive real-time Cryptocurrencies trading platform available to the public. While we were investigating this broker, we found nothing but misleading and fake claims spread across their website.
CCX Crypto is powered by two offshore companies, Bonatech LTD and Mitchel Group EOOD. The Bonatech Ltd is registered in Marshall island and Mitchel Group EOOD is based in Bulgaria. Contact number is +447700316570. Their three email address for traders to address their issues. For general support: email@example.com, For portfolio management: firstname.lastname@example.org and to submit compliance you use: email@example.com.
Read our full review of CCXCrypto to find out why you should never send your money to these criminals because you are guaranteed to lose it.
CCX Crypto Review
There isn’t any information about the creators or developers behind this broker. The anonymous nature and the lack of transparency are some of the most common characteristics found in every fake investment platform. We’ve certainly seen this in reviews of GCG Asia and Lucrotrade, but it’s not helfpul to avoid providing this type of information.
This firm states that it has history dated back to 1999 but according to the data provided on whois.com, this domain was registered on August 2018. Was this done intentionally or just an omission? you be the judge.
Once you send your money these scammers do not care about anything else, if you run into any problem be ready to face disappointment as the support team is painfully slow to answer your queries or they might simply choose not to reply. Any reputable investment firm will never follow unethical practices like these as it damages their public image.
CCX Crypto is using ACTIVE8 trading platform as their preferred tools of trade and it supports automated trading. This platform was developed by SIRIX and included good charting features, market analysis and strategy selection for expert aadvisors. Another important thing about this platform is that you can connect it to MT4 or MT5 which is the dominating platform now.
MT5 is highly praised by the trading community for its ease of use and useful features: the top-notch charting, the support for automated trading via Expert Advisors, easy customization and more. Besides, the MT5 enables traders to execute trades on different financial markets (including exchange-traded stocks) through a single account, which is its main advantage over the MT4.
Read also: The best Forex broker, FXTM Review by the Forex Broker Expert.
Headquater: Marshall Island and Bulgaria
Minimum deposit: n/a
Spread: Fixed at 3.0 on EUR/USD on Basic accounts.
Leverage: Capped at 1:i00
Assets: Forex pairs, CFDs on indices, commodities, precious metals, stocks, and cryptocurrencies.
Terms and conditions: Unfavourable
Support MT4: Not available
There are currently 3 plans available for traders interested in the CCX Crypto. The basic plan comes with 10% welcome bonus and withdrawal process upto 7 business days. The pro account comes with 20% welcome bonus and withdrawal process upto 5 business days. VIP account comes with 50% welcome bonus and withdrawal available in 2 business days. The bonus are linked to a minimum trade volume requirement. Just bear in mind that no legit broker will ever restrict your right to withdraw your own deposit and that is why the practice of offering trading bonuses is prohibited on most regulated markets like the EU.
All the account types comes with fixed spreads on EURUSD, USDJPY, GBPUSD, Gold and crude oil. Minimum Order Size is 0.01 and Forex rates are shown to fifth decimal point for all the account. Also all the account types support hedging. In addition to the basic package, the pro account comes with dedicated account manager, 24/5 Support, news alerts, webinar & videos. In addition to the pro packages, VIP packages comes with a free VPS service. It’s good to see that this broker is providing insight into their trading account, as this is an important aspect that we see in our recent review of IQ Option and FXTM.
CCX Crypto License and warning!
CCX Crypto is registered in Marshall Island and Bulgaria but not licensed in major European licensing hub.
What this means is CCX Crypto is an offshore broker which makes it untrustworthy. Disclaimer at the bottom of their homepage claims Bonatech and Mitchel Group EOOD are the company behind this platform. A look at the registrar of companies tells a different and shocking story.
Legal page also fails to offer any meaningful details as to whether CCX Crypto is fully compliant. Lack of proper licensing and registration details confirm what we had initially feared, CCX Crypto is unlicensed. What this means is the broker in question is operating under false pretense. There’s no regulatory body which has issued CCX Crypto with a green light to operate.
Major regulatory hub across Europe have issued strict warning to CCX Crypto to sieze operations to their citizens. Spain’s financial regulator, the CNMV have blacklisted CCX Crypto. The Financial Commission (FinaCom), the independent external dispute resolution (EDR) has also added CCX Crypto to its warning list. Now, we are blacklisting this broker and warn you never to click on any invitation link. Generally, unlicensed brokers don’t make our best forex brokers page, and worst all, those who have been marked as dangerous by regulatory authorities.
Our best advise for you
A broker who fails to issue banking documents and contracts is operating illegally. Where do they bank money deposited by investors? Investigation reveals traders are depositing money straight to owner’s personal bank account. Stay clear from this broker.
Account segregation is not their concern, which is a must for any legit broker. This means CCX Crypto is pooling funds in one account which is extremely dangerous. In case of bankruptcy or insolvency, this broker will lose all deposits in an instant. Users should never expect any compensation from this broker. CCX Crypto does not participate in any compensatory scheme. This proves the broker in question is a fraud.
CCX Crypto Review Conclusion
To ensure that investors and our readers remain safe, we have to add this broker to our scam list. With this, relevant authorities can investigate and shut down this platform. This is the only way to protect newbie traders from signing up with this fake broker. Stay away from this broker and ignore calls from their marketing agents. Remember to not give out your personal data on any of their platforms. Stay clear at all times from these scammers.
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