CryptoGo365 is a newly registered broker, active since February 2022. The firm registered its headquarters offshore, in Saint Vincent and the Grenadines. Since this country is the only place without actual financial supervision, we’re not surprised to see the rise in the number of registered Forex and CFD offices there. Read this CryptoGo365 review and you’ll understand why you should avoid this firm.
| Broker status: | Offshore Broker |
| Regulated by: | Unlicensed Scam Brokerage |
| Scammers Websites: | cryptogo365.com |
| Blacklisted as a Scam by: | N/A |
| Owned by: | CryptoGo365 Ltd |
| Headquarters Country: | Saint Vincent and the Grenadines |
| Foundation year: | 2022 |
| Supported Platforms: | WebTrader |
| Minimum Deposit: | $250 |
| Cryptocurrencies: | Available |
| Types of Assets: | Forex, commodities, indices, shares, cryptocurrencies |
| Maximum Leverage: | 1:400 |
| Free Demo Account: | No |
| Accepts US clients: | Yes |
Is CryptoGo365 a Secure And Regulated Platform?
CryptoGo365 is a brand of CryptoGo365 Ltd, registered in Saint Vincent and the Grenadines. As aforementioned, this offshore country has no financial regulator. Instead, according to the FSA directive, brokers should opt for a license in the country of service.
Upon checking several Tier1 registers, including FCA, ASIC, and BaFin, we confirmed that CryptoGo365 operates illegally. Thus, it’s pretty risky for you to be involved with this firm.
CryptoGo365 is a scam broker. The firm has no valid financial license and is based in Saint Vincent and the Grenadines. Links to their social media are inactive, while you can register only with a referral code.
How Unsafe Is An Unlicensed Broker?
Unlicensed brokers are not safe. You have no money-back guarantee and nowhere to complain in case of fraud. Furthermore, these firms determine their own trading conditions, meaning that your funds can be exposed to too high leverage. Be aware of this, and don’t invest your funds with illegal companies. Your broker can vanish anytime, and your funds will disappear with it.
Also, we want to invite you to read our recently updated reviews of fraudulent brokers GF Markets, 4xhub and Global Profit. Be careful with these brokers.
Traders’ Experiences With CryptoGo365
CryptoGo365 has several reviews on Trustpilot and all of them are amazing. The broker has higher rating than regulated firms and more positive comments. Yet, there’s one problem. The profile is not verified, and these reviews are probably false. It won’t be the first time an unregulated trading firm has posted fake reviews or promised clients bonuses for posting something good. Having no negative reviews indicates that something is wrong.
So Is CryptoGo365 a Decent Broker or a Scam?
CryptoGo365 is a scam broker. The firm has no valid financial license and is based in Saint Vincent and the Grenadines. Links to their social media are inactive, while you can register only with a referral code.
CryptoGo365 Proprietary Platform – Access With Referral Code
CryptoGo365 offers a proprietary WebTrader and a mobile app. However, you cannot access the platform without a referral code. Basically, you need the broker’s employees on the line and their approval to access the software. Therefore, we cannot confirm what kind of software CryptoGo365 offers, but it is suspicious.
Mobile Trading – App for Android and iOS
Besides WebTrader, the broker advertises mobile apps for Android and iOS. While there is a link to download the platform, we got the same issue. If you want to log in, you need a referral code.
All About CryptoGo365 Accounts – Advantages and Features
The broker offers five account types, including:
- Rookie – $250
- Basic – $2,500
- Elite – $10,000
- Elite Plus – $25,000
- VIP – Upon request
The account overview showed no difference, so we’re unsure whether or not you will get anything if you pay more funds.
Demo Account
You cannot log in to the platform or create an account without a referral code. Therefore, we can’t access any Demo accounts or test the trading conditions. We’re expected to believe the website blindly.
CryptoGo365 Broker – Countries Of Service
CryptoGo365 trading scam is mainly active in:
- Italy
- Germany
- UK
- Australia
- Philippines
Whenever you see an ad showing CryptoGo365, avoid it. You’re about to fall for a scheme.
CryptoGo365 Range of Trading Instruments & Markets
Customers of CryptoGo365 can trade in:
- Currency pairs – EUR/USD, GBP/USD
- Commodities – gold, oil, silver
- Indices – NASDAQ, Dow Jones
- Shares – Amazon, Tesla, Google
- Cryptocurrencies – BTC, ETH, XRP
In the meantime, avoid scammers like IB Finanzas, VitaCapitals and GMGroup. If possible, tell us about your scam experience.
CryptoGo365 Trading Conditions
Unregulated firms, like CryptoGo365, decide on their own trading conditions. However, in this case, we’re missing information.
About Leverage And Spreads
The leverage goes up to 1:400 against all regulatory rules. According to the UK and EU regulators, the limit is 1:30, while in the US and Australia, you can have up to 1:50. Leverage can put you way ahead when it comes to profit but can also make you lose everything you invested if you can’t manage it well. That was the main reason for regulators to intervene and set strict limits.
On the other hand, the spread was never disclosed and we could not access the platform or verify anything.
CryptoGo365 Deposit, Withdrawal Methods, And Fees
CryptoGo365 was not really explicit when it came to payment methods. The broker has logos for Visa and MasterCard on the main page, but nothing is specified.
The minimum deposit is $250, while the minimum withdrawal amount is $50. However, there are some concerning clauses.
For instance: “The company may put limitations on withdrawal requests or limit the withdrawals of a specific account.” Besides this blurry explanation of how your withdrawals will be denied, we have a clause stating that each account type needs to reach a specific quota in shares per asset before withdrawals are determined. However, no quota was specified. In the end, the company maintains the right to charge inactivity and maintenance fees that are not set.
Minimum Investment Amount
The minimum deposit amount is $250, which is an industry-standard. However, if an unregulated firm requires even a penny, we would say it’s too much. Without regulation, you have no guarantees that the money will be returned. Based on the clauses mentioned above, you won’t be able to get your money back.
Customer Support – Communication Channels
CryptoGo365 employees use various communication channels. Customers are contacted mainly through phone calls and emails. Besides, they can use WhatsApp, Telegram and other apps to send different promotions and alleged trading signals. Ultimately, you can be approached via social media sites such as Instagram and Facebook and prompted to invest.
CryptoGo365 Bonuses and Promotions – As A Method Of Fraud
Since we already explained that this firm didn’t bother too hard to specify trading conditions, unsurprisingly, it stands for bonuses too. Clients are expected to reach a particular rollover before withdrawing funds, but the rollover is not précised. If you accept any credits, you won’t be able to place a withdrawal request for an indefinite amount of time. Guess what? It’s a scam.
Scammed by CryptoGo365 Broker? – Let Us Hear Your Story
If you were scammed by CryptoGo365 or a similar bogus broker, let us know. Our chargeback specialists may be able to assist and help you recover what’s rightfully yours.
But What Is A Chargeback?
This is a way for your bank to reverse the fraudulent transaction. Contact us via online chat to book a free consultation and let’s recover your funds before the broker vanishes!