CryptoEXP is a new unregulated Crypto Currency trading broker. Their minimum deposit for new a trading account is €5000.
CryptoEXP offers their traders and investors a unique trading platform from Frontrader. Their website and customer service is only available in English, although they are promoted in Sweden.
WARNING! This Broker is Not Licensed!
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This broker offers clients CFD trading on the popular Crypto Currency pairs, on their Frontrader web-based trading platform. Available coins for trading are: Bitcoin, Dash, Litecoin, Ripple, Ethereum and GNosis. The leverage amount and spreads vary depending on the time of day and the volatility of the asset, but BTC is offered at 1:2 leverage. They write on the account types page that spreads are zero, but you will have to pay commissions of 6%. With BTCUSD trading at $4,000, a 6% commission amounts to $240.
At the time of this review, we only saw their Android mobile trading app available. We could not find the ability to use the popular Metatrader 4.
Crypto EXP offers their clients a “Company Credit”, which is just a fancy word for Bonus Money. When you read the terms mentioned on the terms and conditions page you will see, that the trading volume requirement for withdrawal of the bonus is 120 times the bonus amount.
“The Turnover will be calculated unless said otherwise in writing by CryptoExp management as such : (Total Investment + Total Credit) X 60 = Volume requirement).”
This is a major cause of complaints that many new Forex investors do not realize, when they accept a bonus.
CryptoEXP License & Regulation
When day traders and crypto currency investors compare their options for a Crypto Currency CFD broker, they will usually look for an exchange that is both licensed and regulated in their home country. Brokers is England are licensed by FCA, and brokers in Sweden, must be licensed by Finansinspektionen.
CryptoEXP is not a licensed broker.
You can find the most popular and licensed brokers listed here.
This broker is owned and operated by: O. M. G. Markets Ltd, located at Asen Yordanov Blvd. No 12 District Iskar, Sofia district, Stolichna Municipality, Sofia 1592, Bulgaria
Customer Support Email Address is: [email protected] Contact Phone Number in the United Kingdom is: +442037699143. Official Website: http://www.CryptoEXP.com
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Get your Free Demo Account on their unique trading platform, see here.