Operating status: SCAM
On 15 Sep 2022, the United Kingdom Financial Conduct Authority (UK FCA) issued a warning that Cryptoxtrades is providing financial services or products in the UK without authorisation. You may visit: https://www.fca.org.uk/news/warnings/cryptoxtrades
Cryptoxtrades claims to be a reliable broker without presenting any information about its regulation. The lack of such important information may be a distinct signal of an unlicensed broker, as regulated brokers always present their accreditations and licenses in a prominent position. It is a red flag.
In addition, Cryptoxtrades also claims to be located in the UK. As per United Kingdom law, all firms and individuals offering, promoting, or selling financial services or products in the UK shall be authorized by the United Kingdom Financial Conduct Authority (UK FCA). However, we only found a warning against this broker in UK FCA.
UK FCA warned that Cryptoxtrades was providing financial services or products in the UK without authorisation.
The truth is that Cryptoxtrades is not regulated by any regulators. Letting this broker hold or control investors' money is unsafe, and the money can not be protected by any laws. Therefore, it is a scam.