Crypgraph – Are They Safe?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
Crypgraph - DO NOT TRADE WITH THIS PROVIDER
2.6/10
$100
Minimum Depositupdated 2022
The details for opening trading accounts are not indicated on the broker’s website. In order to register with this broker, you only need to go to their sign-up page where you’ll be asked to enter your name, email address, phone number, and password. You’ll also be asked to accept their Terms and Conditions and confirm that you’re over 18 years of age. After this, the trading platform will be made available for you and you can start trading using their demo account.
Try these regulated brokers if you want to start trading cryptocurrencies
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
Website URL: https://crypgraph.net
Founded: 2022
Regulations: None
Languages: English
Deposit Methods: Maestro, PayPal, Visa, PayMaya, Stripe
Minimum Deposit: $250
Free Demo Account: No
Number of Assets: 5000+
Types of Assets: Forex, Stocks, Indices, Commodities, Digital Currencies
Trading Accounts and Conditions
Crypgraph offers their clients the following trading accounts:
- Basic: The deposit range is from $250 to $5,000. You are given access to 100+ assets.
- Bronze: The deposit range is from $5,001 to $15,000. You are given access to 100+ assets.
- Silver: The deposit range is from $15,001 to $50,000. You are given access to 300+ assets.
- Gold: The deposit range is from $50,001 to $150,000. You are given access to 500+ assets.
- Platinum: The deposit range is from $150,001 to $500,000. You are given access to 1000+ assets.
- Diamond: The deposit range is from $500,001 to $1 million. You are given access to 5000+ assets.
- Black: The minimum deposit starts from $1 million. You are given access to 5000+ assets.
The broker does not specify the leverage ratios and the spreads; they only state that their leverage ratios are high and their spreads are low. No other trading conditions are mentioned.
Crypgraph – Advantages
You will find no advantages in trading with Crypgraph.
Crypgraph – Disadvantages
Given below is the list of issues that tell us clearly that Crypgraph is a scammer:
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Anonymous and Unregulated
The first sign that Crypgraph is not a legitimate broker is the fact that this broker does not present us with any corporate or regulation information. Legitimate brokers clearly give details of their corporate identity – there is no company name, no contact details, or even physical address. Basically, we do know what entity is behind this brokerage or even where they are located. This means that we are dealing with an anonymously operating broker.
The only hint of this broker’s whereabouts is from Crypgraph’s legal documents, where there is a single reference to Estonia (the broker claims to follow Estonian laws). This claim, however, is just a lie.
The Estonian financial regulator, the Finantsinpektsioon (Estonian Financial Supervision and Resolution Authority), has a database of all brokers that are licensed to operate in their jurisdiction and there is no company or brokerage by the name of Crypgraph listed in that database.
Most likely, Crypgraph, like other scammers, simply copied the terms and conditions from another scam site. We say this because we have seen the reference to brokers claiming to be governed by Estonian laws in numerous other scam brokers’ Terms and Conditions – as a copy paste!
All the evidence we have uncovered has shown us that Crypgraph is an anonymous and unregulated broker – a scammer.
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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Poor Trading Software
Unlike many other scammers, Crypgraph actually has a trading platform. Having said that, we need to point out that the trading platform this broker does offer is a very poorly designed one. A web-based trading platform that has hardly any functionality. In fact, the most that you could do on this platform is to buy and sell just a few assets. This is the kind of platform that we have seen many, many other scammers use.
Legitimate brokers offer their clients the best trading platforms in the market – either the MetaTrader 4 or MetaTrader 5 (or even both!) trading platforms. These are the top two trading platforms in the world and they have both been created by MetaQuotes. These platforms are so user-friendly that novice traders can easily use them and they have so many added functionalities that pro traders will maximize their trading opportunities.
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Issues with Trading Conditions
Not only do we disapprove of this broker’s trading software, we also have issues with their trading conditions. The first issue we have is the lack of transparency about their trading conditions.
From their Account Types section, all we get to know is their deposit range, which starts from $250, which is on the higher side. There are so many legitimate brokers with a great reputation that allow you to open accounts for less than $50.
The broker also does not mention the amount of leverage they offer or the spreads they have. We had to check the client are of their web trader software to get that information. We found out that the spreads for the EURUSD started at 3 pips, which is much too expensive as a cost of trade. Thus, their promise of low spreads is a lie.
The leverage ratio is also high at 1:100. In Europe, which seems to be this broker’s target, the maximum allowed leverage is 1:30, so this ratio offered by Crypgraph is not only too high but also illegal.
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Issues with Payments
Another clear indicator of Crypgraph’s scam is the fact that there are so many issues with their payments.
The broker displays logos of the following payment providers: Maestro, PayPal, Visa, PayMaya, and Stripe. However, none of the payment methods were actually available. So, these logos are also just a lie.
The withdrawal policies are the same that we have seen with multiple scam brokers – $50 for wire transfers, $25 for e-wallet transfers and $35 for credit and debit card transactions. None of these are true because we could not find any of these payment methods on their payments area.
Added to this, you cannot withdraw your funds until you meet their withdrawal conditions – a 200 trading turnover target. And if you do withdraw your funds without meeting this target, then you will be charged a 10% fee on all withdrawals.
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Bonuses Offered
The withdrawal clause also extended to the bonuses offered to clients. If you accept Crypgraph’s bonuses, then you will need to meet that turnover target or you will simply not be allowed to withdraw your funds.
This is a typical scam move which essentially blocks you from ever being able to retrieve your funds.
Conclusion
Crypgraph is yet another anonymous scam operation that needs to be avoided by all traders.
Crypgraph
Pros
- None
Cons
- Anonymous and Unregulated
- Poor Trading Software
- Issues with Trading Conditions
- Issues with Payments
- Bonuses Offered
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
82% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money
Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders.
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