CryptoNetto – Uncovering the Truth About This Scam

With the popularity of cryptocurrencies increasing, you will find that there are numerous platforms that have been established in recent days that are offering a vast amount of trading opportunities in this market. These platforms are catering to beginner investors, as well as professionals, and claim to offer their services with utter confidence and trust. In addition, you will come across a number of them that also promise high guaranteed returns and a smooth service where cryptocurrencies are concerned, along with forex and other CFDs. But, the truth can be quite different, as this CryptoNetto review will show.

Therefore, your concern about potential opportunities and income should go hand in hand with the truth about the platform you intend to use. You need to ensure that you are choosing a legitimate broker and it can deliver you everything it promises because this can save you from disaster. After all, your goal is to make profits and not lose your money in losses. The only way to make this happen is to choose a reliable and legitimate platform. Where does CryptoNetto fall? You have to uncover the truth about this broker, no matter how much their offerings impress you.

This will help you in making the right decision for your trading needs and also keep you safe from scam risks. When you take a closer look at CryptoNetto, you will come to know just what the issues with this broker are. Let’s uncover the truth:

No regulation and licensing

The first thing that anyone should look into a broker is their licensing and regulation because it adds a layer of security to the platform. Even though there is no guarantee that a licensed broker will not scam you, the chances are very low and there can be some accountability in this aspect. There is no such thing with unregulated broker. Moreover, if a company is genuine, it doesn’t make sense for it to not obtain a proper license to provide their services. Unfortunately, you will find that CryptoNetto does not have a license and is not regulated.

As a matter of fact, a look at the CryptoNetto website shows that it is more or less anonymous because there is no such information or corporate background available on their website. You will not find the name of the company running the platform and there is no address given either. The only thing they mention is that they are based in London, United Kingdom.

In order to operate from London, a broker needs to have a license from the Financial Conduct Authority (FCA). This is the regulatory authority of the UK, but a check of their online register shows that CryptoNetto is not listed anywhere. This means there are two possibilities; either it is not based in the UK at all, or is operating illegally. Regardless, it doesn’t work in favor of the broker.

Blacklisted by the FSMA

If the lack of regulation and licensing was not enough, you will find that CryptoNetto also has had a warning issued against it by a regulatory authority. This can be the worst thing to happen to any broker because it automatically brands it as a scam or untrustworthy. Therefore, a legitimate broker would do everything possible to avoid such a situation.

In the case of CryptoNetto, you will find that it has been blacklisted by an EU regulator, the FSMA. The Financial Services and Markets Authority is the regulatory authority in Belgium and has said that it has received multiple complaints about CryptoNetto in the cryptocurrency sector. The FSMA has received numerous complaints from people who have lost their money because of the brokerage, which is all the proof needed that it is not an authentic or trustworthy platform.

Final Thoughts

Thanks to this review, you can uncover the most important truth about CryptoNetto i.e. it is not a legitimate platform and is one you should avoid when you want to engage in cryptocurrency trading.