Cryptos-Planet.com Review Is Cryptosplanet A Scam

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Good for Beginners!
    Free Education + Free Demo Account!
    Get Your Sign-Up Bonus Now!

  • Binomo
    Binomo

    Only For Experienced Traders!

Cryptos Planet (Cryptos-planet.com) – Unbiased Review

Crypto Planet is a relatively new crypto exchange which has gotten a lot of attention in some regions around Portugal. They are licensed under SEC and have offices in London and Switzerland. There are some drawbacks of joining this platform, but they depend upon your personal trading style and preference.

Nowadays amidst hundreds of choices, it is really crucial for every retail investor to make sure that they deal only with the ones who have stood the test of time.

To know whether if this platform will help you in your trading or investing endeavour, read our unbiased review till the end.

License, Regulation and Support Team

Ever since the cryptocurrency broke new heights in 2020, the masses have immense interest in them. While many people understand the true way the blockchain system works, many of them are still under the impression that it is a ticket to get rich quick.

The major conflict of interest between the parties has made regulatory bodies enforce strict rules to brokerages. Crypto Planet, license number – SEC/13246348. We couldn’t find any details about them on FINRA. However, for precise information on this matter, you have to contact the support team of the firm.

Due to the lack of testimonials and information, we do not know the timings of the employees of this institution or the way they handle the clients. Here are their contact details.

Headquarters Office – Staffelstrasse 3, Zurich, Switzerland.

United Kingdom Branch – Westminster, SWA1A 3BE, London, United Kingdom.

Asset Class and Charting Platform

Before we dive into the trading instruments available, note that this platform is an exchange which unlike the broker will obviously have less available options. If you are someone who relies on trading bots or softwares, then this platform will not be of much importance to you.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Good for Beginners!
    Free Education + Free Demo Account!
    Get Your Sign-Up Bonus Now!

  • Binomo
    Binomo

    Only For Experienced Traders!

However, if you are trading only the top cryptos or looking for a reliable platform to store your coins for the long term, then this exchange is all you need. There are only 5 crypto pairs to choose from and the fees for the transaction are unfortunately not stated anywhere on their website.

Recommended Services
Best Crypto Exchange
Best Brokerage and Auto Trading Robot
Recover Money from Scams

They do provide tick data on their dashboard. Since it is impossible to trade without indicators, you will need to use an additional platform such as Tradingview to make your decisions.

On the bright side, the TradingView allows the users to input custom indicators. So, it can be customized to whatever setting you might ever need.

Domain Information

Below we have gathered the generic information about this website using alexa.com and whois.com.

Registered On – 12/04/2020

Alexa Global Rank – 6,425,070

Deposits and Withdrawals

The deposits to this exchange can be made via Bitcoin or Ethereum only. On the dashboard, the amount by default will be shown in EUR value. The minimum deposit amount is $60 equivalent in BTC or ETH.

There might be fees involved on the transactions and as there is no FAQ section on their site, we do not have any idea about how long they take to process withdrawals. Usually, for Bitcoin transaction, the average time required to confirm transaction is 2 to 4 hours, but it might take longer in some cases.

Crypto Planet Review Conclusion

Crypto Planet appears to be a reputable broker and the security measures they have in place is also top of the class. However, the only reason as to why we have slight hesitation to give it a green signal is because of the lack of testimonials.

We are sure that with time, the customer feedback will increase which will provide a clear overall picture about their service. Right now, if you wish to get started with them, then start with investing the bare minimum capital to test them out. Once you are happy with the service, then it will be easy to scale up eventually.

Cryptos-Planet.com Review: Is Cryptosplanet A Scam?

Cryptosplanet Review: as the name suggests this is a cryptocurrency brokerage but offers a platform for trading the major digital assets. Is cryptos-planet.com a legit broker or a scam? With the continuing rise in illegal and fraudulent cryptocurrency companies, it is vital that you read this review before opting to trade with this broker.

On the website of this broker what we find is an address in Zurich, Switzerland. It claims that the company is licensed in Switzerland where the headquarters is located. However, when we did a little investigation, we found that Cryptosplanet is not a licensed company.

HAVE YOU BEEN SCAMMED? If you have lost your money to online scammers, there is an opportunity you could get back your money.

Click HERE to start the recovery process

In addition, we uncovered releases showing that it is actually a blacklisted brokerage. The Financial Market Supervisory Authority that should license trading companies in the Swiss region have warned residents to avoid the company. This is not all, the Italian trading authority, CONSOB, have also announced that the brokerage be avoided by people living in Italy.

Clearly showing that this dangerous company is operating without a proper license and is not under the jurisdiction of any respectable commission.

Advantages of Cryptosplanet

It claims that once traders create an account using their name, email, phone number and a unique password, they only need to fund their accounts to start trading and making profits.

It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

Cryptosplanet claims that traders using them do so because their platform is: easy to use, safe & secure, fully decentralized, and require low fees.

Cryptosplanet Trading Platform

The platform that is offered by Cryptosplanet to their client turns out not to be the MT4 platform. The MetaTrader platforms are commonly used because they allow the use of trading robots.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.

Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders are majorly digital assets like: Bitcoin, Ethereum, Litecoin, Ripple, Bitcoincash and more. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

Maximum leverages offered is not mentioned and while some may seem generous, they could pose danger. High leverages can lead to huge loss of funds as well. Spreads are not made available to the public.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on Cryptosplanet

Deposits can be made by using either credit cards or transferring digital currencies like Bitcoin or Ethereum.

The fact that e-wallets are left out is disturbing because standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.

Minimum deposit required is $60 which is within the obtainable average of $100 – $250 among brokers. Withdrawal fees are not mentioned and it is stated that there are no commissions.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

Is Cryptosplanet Licensed?

No. Cryptosplanet is not a licensed brokerage. Even the website does not provide much relating to the corporate information of the company. Like we mentioned above, the region where it is based is regulated by the Financial Market Supervisory Authority and instead of finding a license we find a warning against it.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Support

To contact the broker or get in touch with an agent of the customer support service, no means is provided on the website. This is discouraging as some interested clients may have inquiries to make.

Conclusion

What we have on our hands here is not just an unlicensed brokerage but one that is blacklisted by two regulatory authorities. We clearly see that Cryptosplanet is bad news and should not be trusted with funds. Even most of the trading conditions are not revealed on the page. If you have anything to add to this crypto broker review, do so via the comment section.

COMPARE WITH A TRUSTED BROKER

Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

Cryptos Planet review – SCAM alert!

In this Cryptosplanet review we explain why you should not trade cryptocurrencies with this exchange.

Cryptos Planet supposedly is a fully decentralized cryptocurrency exchange that will let you trade bitcoin, ethereum, ripple, litecoin and others.

The exchange claims to be headquartered in Switzerland, to have offices in the United Kingdom and to be registered with SEC in the United States.

Table of Contents

Cryptos Planet scam

The first problem we noticed with Cryptosplanet is that it supposed to be “fully decentralized”, yet you are supposed to deposit your cryptocurrencies with them.

A fully decentralized exchange means that you don’t deposit cryptos anywhere, you keep them in your wallet and smart contracts make the trading happen, it means they lock the funds and transfer them to the counterparty when needed.

So, Cryptosplanet is obviously lying, it is not fully decentralized.

No registration

The biggest problem we see with Cryptos Planet is that is blatantly lying about its identity. First of all, it says it was established in 2020, but the domain was registered only in 2020, so it certainly is not three years old.

Secondly, Cryptos Planet says that it is registered with the US Securities and Exchange Commission with the license number SEC/13246348. But it is not true!

We made searches in the SEC register and there is no company with this name and/or registration number. So, here you have another big lie we had to expose in our Cryptos Planet review. See our picture for proofs.

These things mean that this exchange is full lies and cannot be trusted.

Cryptos Planet review conclusion

Cryptos Planet is lying about its age and its license, it obviously is a scam, stay away from it!

If you want to trade cryptocurrencies, first try a free demo with a regulated broker to see how it works.

Only when you get comfortable on the demo and understand the risk of real trading you can start contemplating investing real money.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Good for Beginners!
    Free Education + Free Demo Account!
    Get Your Sign-Up Bonus Now!

  • Binomo
    Binomo

    Only For Experienced Traders!

Like this post? Please share to your friends:
Binary Options Trading
Leave a Reply

;-) :| :x :twisted: :smile: :shock: :sad: :roll: :razz: :oops: :o :mrgreen: :lol: :idea: :grin: :evil: :cry: :cool: :arrow: :???: :?: :!: