BrokerCryptoF1 Broker Review

BrokerCryptoF1 Broker Review
James Fields
Established in 2017, Broker CryptoF1 is an unregulated Spanish binary options broker offering CFD trading in Bitcoin and 10 other cryptocurrency options including Litecoin, Ethereum, Ripple, Verge, Stellar and Bitcoin Cash. Traders must deposit in Bitcoin to open a live trading account, with Bitcoins available to buy from an exchange that appears to be working... Read more
Established in 2017, Broker CryptoF1 is an unregulated Spanish binary options broker offering CFD trading in Bitcoin and 10 other cryptocurrency options including Litecoin, Ethereum, Ripple, Verge, Stellar and Bitcoin Cash. Traders must deposit in Bitcoin to open a live trading account, with Bitcoins available to buy from an exchange that appears to be working with Broker CryptoF1. The Bitcoin options trading portal is available in English, German, French and Spanish. On the Spanish language website Broker CryptoF1 is operated by Trade Markets Global Corp, allegedly registered in the UK and the European Union. On the English language website Broker CryptoF1 is operated by Casa de General Options Ltd, company number 83358 registered in the Marshall Islands at the Trust Company Complex, Ajeltake Road, Ajeltake Island, Maduro, MH96960. The German and French website translations do not give the name or address of the company operating Broker CryptoF1.
  1. Established in 2017, Broker CryptoF1 is an unregulated Spanish binary options broker offering CFD trading in Bitcoin and 10 other cryptocurrency options including Litecoin, Ethereum, Ripple, Verge, Stellar and Bitcoin Cash. Traders must deposit in Bitcoin to open a live trading account, with Bitcoins available to buy from an exchange that appears to be working with Broker CryptoF1. The Bitcoin options trading portal is available in English, German, French and Spanish.

    On the Spanish language website Broker CryptoF1 is operated by Trade Markets Global Corp, allegedly registered in the UK and the European Union. On the English language website Broker CryptoF1 is operated by Casa de General Options Ltd, company number 83358 registered in the Marshall Islands at the Trust Company Complex, Ajeltake Road, Ajeltake Island, Maduro, MH96960. The German and French website translations do not give the name or address of the company operating Broker CryptoF1.

  2. Conclusion:

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    Your capital is at risk
  3. BrokerCryptoF1 Special features

    The company website is not transparent which proved very worrying to us. Importantly, it does not provide any information about the trading account features or the minimum deposit required to open a trading account. From the terms and conditions on the website, we understood that deposits must be made in Bitcoin. However, we were concerned to read that ‘customers must agree never to exchange Bitcoins purchased from Broker CryptoF1 for any currency other than Thai Baht’. Another point raising alarm bells is ‘When buying bitcoin using an email address instead of a bitcoin address, the customer is agreeing to create an account with BX.in.th for the storage of the purchased bitcoins. We do not have any assurance that the Bitcoin are stored securely by this storage company, and could result in clients losing their Bitcoins.

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  6. BrokerCryptoF1 Trading software

    There is no description of the trading platform features on the website. Importantly, there is no mention of leverage for margin trading or Stop-Loss orders on the platform. The home page of Broker cryptoF1 mentions payouts up to 81% on a user-friendly platform. The ‘trading products’ are listed as BTC/USD, LTC/USD and ETH/USD and traders can read about the three different cryptocurrencies. Notably, on the ETH/USD description page, Broker CryptoF1 suggests that customers transfer crypto coins to the their personal BTC wallet in Bitcoin Binary Options trading portal and ‘buy Ethers right away’. The company claims to keep the BTC and ETH safe in their cryptocurrency cold storage. However, there is no mention of storage fees, deposit or withdrawal costs.

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  8. BrokerCryptoF1 Support information

    The most informative part of the Broker CryptoF1 website is the support page. Live support is offered directly through live chat on the interface 24/7 where agents ask for customers phone numbers and call them immediately. A physical address in Madrid is indicated under the contact form available on the contact page. Moreover, customers can also phone contact numbers in London, Madrid and Barcelona or send email enquiries related to trading with Broker CryptoF1.

     

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  10. BrokerCryptoF1 Payment Methods

    We could not find clear information published on the website about funding an account at Broker CryptoF1. We understood that the broker does not disclose important information, so that potential customers contact customer support. In our experience payment information offered over the telephone and not backed up in the company’s terms and conditions on the website, is totally worthless and may lead to traders losing a large sum of money. Whether customers bring their own Bitcoins to trade on the binary options platform or buy Bitcoins through Broker CryptoF1, a lot of money is at stake and could result in very large losses of Bitcoin assets. We suggest that our readers choose a reputable cryptocurrency broker from our reviewed list of licensed brokers.

  11. Conclusion:

    We make it our mission to not recommend anything but the best – which, according to industry experts, is FXMasterBot, a trading software that lets YOU choose the broker and also provides fast, reliable and FREE trading signals!

    • Choice of reputable brokers
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  12. Your capital is at risk
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