Crypto Bills Ltd – Can You Trust Them?
Stop! It’s a Scam! Your money is not safe if you are trading with this unregulated, off-shore broker.
Crypto Bills Ltd - DO NOT TRADE WITH THIS PROVIDER
2.4/10
$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://cryptobillsltd.com
Founded: 2022
Regulations: None
Languages: English
Deposit Methods: Bitcoin
Minimum Deposit: 0.005 BTC
Free Demo Account: No
Number of Assets: N/A
Types of Assets: Forex, Stocks, Cryptocurrencies, Indices
Trading Accounts and Conditions
This broker does not have any trading accounts. Instead, Crypto Bills Ltd offers their customers 3 different types of investment plans:
- Basic Plan: The deposit range is from 0.005 BTC to 0.49 BTC. You are promised a 20% return after 7 days.
- Standard Plan: The deposit range is from 0.5 BTC to 9.99 BTC. You are promised a 30% return after 7 days.
- Premium Plan: The deposit range is from 10 BTC onwards. You are promised a 10% return after 7 days.
There is no mention of any trading conditions at all.
Crypto Bills Ltd – Advantages
Crypto Bills Ltd has no advantages to offer. This is not a broker you should trust. Read on to find out why.
Crypto Bills Ltd – Disadvantages
Here is the list of reasons why it would be a very bad idea to do business with Crypto Bills Ltd:
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Issues with Regulation Status
Crypto Bills Ltd seems to be not only the name of this broker but also of the parent company that operates this website. However, there is no way to confirm this since the broker has not really provided us with any corporate information. The About Us section is blank, and the Contact Us and FAQ sections have nothing either.
This is the first red flag, since this means that this broker is operating anonymously.
The broker has also not provided any licensing information. No physical address or licensing or registration number that would help us figure out their regulation status.
Thus, we can conclude that we are not only dealing with an anonymous broker but also one that is unregulated. Thus, this is the first – and strongest – indication of the fact that we are dealing with 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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No Legal Documents
Crypto Bills Ltd also does not have any legal documents on their website. This is also another indication of a scam. Legal documents are critical since they tell you exactly what a broker is offering: the trading conditions, the cost of trading in terms of fees and commissions, costs associated with deposits, withdrawals and account maintenance, policies around using their services and so on. Without such legal documents in place, brokers can take their customers for a ride and there is nothing you will be able to do about it since you already signed up with them.
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No Trading Software
The main thing that an online broker offers their clients is their trading software. So, most legitimate brokers ensure that they offer their clients the best possible software there is in the market – or, if they have the resources, they develop their own in-house platform. Currently, the best trading platforms in the market are the MetaTrader 4 and the MetaTrader 5 platforms. Developed by MetaQuotes, these two platforms offer users an amazing trading experience – a user-friendly interface, tons of trading tools, social trading, automated trading, and so much more.
With Crypto Bills Ltd, all you get a is fake trading platform. Once we had registered for an account, we accessed their client are and found out that all this broker had to offer in the name of a trading software was a very basic trading chart that showed the current asset prices. This chart is easily imported for free from TradingView.com. So, there actually is no trading software at all here.
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Returns on Investments Promised
Legitimate brokers offer their clients a range of account types from which to choose. Each of these accounts has a different set of trading conditions, designed to target different types of traders, starting from novices all the way up to professionals.
With Crypto Bills Ltd, you get investment plans instead of trading accounts. Each investment plan promises a return on your investment.
This is a sure sign of a scam since no broker anywhere can promise profits. The nature of the market is such that losses are much more frequent than profits. Regulated brokers have to publish the percentage of their clients that are losing money while trading, and that number is huge: 75% to 85% of all trades end in losses.
So, these promises are just tools to attract novice traders who don’t know how the market works. They get lured by such tall claims of profits and end up getting scammed.
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Single Payment Method Allowed
It is not surprising at all that this scammer will only allow you to deposit money using only a single payment method – Bitcoin. Regulated brokers ensure that they offer a range of deposit and withdrawal methods – bank cards, e-wallets, bank transfers and cryptocurrencies.
Scammers, on the other hand, will offer only those payment methods that cannot be refunded. And this usually means cryptocurrencies. Crypto transactions are permanent and anonymous. Which means that you not only don’t know who has your money, but there is also no way that you will be able to get it back.
This is the reason why we advise traders that if they are dealing with a new broker, they should opt for bank cards (credit or debit cards). These payment options allow for a charge back in case you get scammed. So, until you trust your broker with your money, it is best to play safe.
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No Trading Conditions
While this has actually become a moot point considering the fact that this broker does not have any legal documents, trading accounts or even a trading software, it is best to mention this point.
Trading conditions are what tell a trader whether it would be affordable and profitable to trade with a particular broker. Therefore, if these details are missing, traders don’t really know whether they are getting a good deal or not.
Conclusion
Crypto Bills Ltd is just another low-cost scammer, targeting novice traders.
Crypto Bills Ltd
Pros
- None
Cons
- Issues with Regulation Status
- No Legal Documents
- No Trading Software
- Returns on Investments Promised
- Single Payment Method Allowed
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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