Crypto Eco Vest – 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 Eco Vest - DO NOT TRADE WITH THIS PROVIDER
2.3/10
$100
Minimum Depositupdated 2023
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://cryptoecovest.com
Founded: 2008
Regulations: Not Regulated
Languages: English, Google Translate Languages
Deposit Methods: Not Specified
Minimum Deposit: Not Specified
Free Demo Account: Not Available
Number of Assets: Not Specified
Types of Assets: Digital Currencies
Trading Accounts and Conditions
This broker mentions nothing about the types of trading accounts they have. In fact, the only thing that the broker mentions about their trading accounts is that you can register for an account and start trading with them.
Added to this, Crypto Eco Vest does not mention the trading conditions they offer; there is no information on their spreads, leverage ratios, order execution methods, commissions, etc.
Crypto Eco Vest – Advantages
There are no advantages to trading with Smart Crypto Eco Vest.
Crypto Eco Vest – Disadvantages
Given below are all the disadvantages that clearly tell us that Crypto Eco Vest is a scammer:
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Unregulated Broker
Crypto Eco Vest claims to be based in the United States, giving us a Texas address on their website. However, the telephone number that the broker provides is a UK number; there is no US phone number provided.
Added to this, in their Company page, the broker claims to have launched their services in the US in 2016. However, on their home page’s footer, the broker states that they were incorporated in 2008.
And we also do not have any information on their regulation status – the broker has not provided any.
To operate in the United States, a broker needs to be a member with the National Futures Association. But that is not all. The broker also needs to be licensed to operate by the Commodity Futures Trading Commission. If a broker does not have both permissions, there is no way that they can operate in the US.
We checked the NFA’s online register to see if this broker was really operating legally in the United States. However, we were disappointed. This broker is not registered with the NFA at all. Which means that despite all their claims, Crypto Eco Vest is operating in the US illegally.
Since there is no mention of any other regulation from any other financial regulator, we can safely say that this broker is not regulated at all. And this makes Crypto Eco Vest 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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Blacklisted by Financial Conduct Authority
While we were checking whether Crypto Eco Vest is regulated or not, we found out that the UK regulator, the Financial Conduct Authority, has blacklisted this broker.
The FCA has issued a warning against this broker, letting all traders in the UK know that Crypto Eco Vest is operating in their country without authorization.
Crypto Eco Vest is operating in multiple jurisdictions illegally and that means that this so-called broker is actually a dangerous scammer.
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Poor Terms and Conditions
Of all the legal documents, the Terms and Conditions are critical for a broker to present. This is basically the contract between you and the broker. So, this document has to be detailed and very specific about the kind of service the broker offers, what their terms of service are, what their policies are and so on.
With Crypto Eco Vest, there is a very, very short document that the broker uses as their Terms and Conditions. It really isn’t even a proper legal document!
When there is an issue with a broker’s legal documents, then it is a sign that that broker cannot be trusted.
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Issues with Registration
Once we have checked a brokers credentials, we attempt to register for an account with them. This allows us to assess their registration process and their client area. It also allows us to check their live trading platform and their payments section.
With Crypto Eco Vest, the registration process was broken. We were unable to register for an account with this broker, despite trying multiple times.
An issue with a broker’s registration process is another red flag to look out for.
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Unknown Trading Platform
Crypto Eco Vest does not even mention the kind of trading platform they offer – anywhere on their website.
This is important because the trading platform is a broker’s main offering. Therefore, legitimate brokers will advertise their platform prominently on their websites. They will also offer their prospective clients a free demo version of their trading platform so that you can test their service and product offerings (trading conditions and trading platform).
When even basic information about a broker’s trading platform is missing from their website, then you know that you are dealing with a scammer.
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No Trading Conditions
The single service offering a broker has to offer their clients is their trading conditions. So, a legitimate broker will advertise their trading conditions as prominently as their trading platform. All details will be clearly spelled out for all to see.
With Crypto Eco Vest, we have nothing. No minimum deposit, no spreads, no leverages, no commissions and so on. This complete lack of transparency is a clear indication of this broker’s dishonesty and points to them being scammers.
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Single Payment Option
Crypto Eco Vest does not tell us anything about their payment options. There are no logos of payment providers anywhere on their website. The only way we have assumed that they have a single payment option is because the broker advertises Bitcoin as their payment option mentioned in the content of their website.
We need to warn traders that a single payment option is a red flag, and when that single payment option is a cryptocurrency, then it is a clear sign of a scam. This is because crypto payments are irreversible and anonymous, which means that you will never see your money again. You will also never know who has taken your money.
Conclusion
Crypto Eco Vest is a scammer and trusting them with your funds would be dangerous.
Crypto Eco Vest
Pros
- None
Cons
- Unregulated Broker
- Blacklisted by Financial Conduct Authority
- Poor Terms and Conditions
- Issues with Registration
- Unknown Trading Platform
Do not trade with unregulated brokers that will steal your funds - try these regulated brokers:
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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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