Cryptonary Farm – Are They a Scam?

Website URL: https://cryptonaryfarm.com

Founded: 2022

Regulations: None

Languages: English

Deposit Methods: Bitcoin, Ethereum, Litecoin, Bitcoin Cash

Minimum Deposit: $1,000

Free Demo Account: No

Number of Assets: N/A

Types of Assets: Stocks, Bonds, Cryptocurrencies

Trading Accounts and Conditions

Cryptonary Farm does not seem to have any trading accounts. Instead, the broker offers something called Investment Packages. Here is what you get:

• Bronze: The minimum possible deposit is $1,000 and the maximum deposit is $4,999. You can get a minimum return of $12,000 and a maximum return of $49,000 – in 1 Day! You also get a $5 Gift Bonus.
• Gold: The minimum possible deposit is $5,000 and the maximum deposit is $9,999. You can get a minimum return of $50,000 and a maximum return of $100,000 – in 3 Days! You also get a $5 Gift Bonus.
• Platinum: The minimum possible deposit is $10,000 and the maximum deposit is $99,999. You can get a minimum return of $100,000 and a maximum return of $990,000. You also get a $250 Gift Bonus.

There is no mention of leverages, spreads, commissions, assets, etc.

Cryptonary Farm – Advantages

There are no advantages to be had in trading with Cryptonary Farm. This is another shoddily constructed scam.

Cryptonary Farm – Disadvantages

Here are all the red flags that have shown us that we are dealing with yet another scam operation:

• Lack of Regulation

Cryptonary Farm provides us with very little corporate information. There is a UK phone number, a vague email that doesn’t even seem to belong to this broker ([email protected]) and a UK address.

Here is the problem: to be able to operate in the United Kingdom, brokers have to be regulated by the Financial Conduct Authority (FCA), the financial regulator of this country.

It is easy to verify if a broker is registered with the FCA or not. All you need to do is to search for the relevant broker on the FCA’s online register. So, that is what we did. We found out that not only is Cryptonary Farm not registered with the FCA, but that the FCA has actually issued a warning against this broker.

According to the notice on the FCA’s website, Cryptonary Farm is a scammer that is operating in the UK without the regulator’s authorization. The regulator also stated that this broker was targeting traders in the UK.

All of this information tells us that we are dealing with an anonymous and illegal broker – a scammer.

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• No Trading Software

After we created and account with this broker and logged into their client area, we realized that Cryptonary Farm did not even bother to provide their clients with a functioning trading platform. All we saw was a simple chart imported from TradingView. There was no option to even do something as simple as buy and sell on their platform.

• No Trading Conditions

Considering the fact that this broker does not even have any trading platform, it makes sense that they would not advertise any trading conditions. However, considering that most legitimate brokers would clearly spell out their trading conditions on their website – without traders having to open an account with them, we can clearly say that this broker is a scam.

• No Legal Documents

Cryptonary Farm hasn’t even bothered to show any legal documents on their website. Legal documents such as terms and conditions, terms of service, user agreement, etc., are critical since they tell traders exactly what they will be getting from their broker.

These legal documents will tell traders the terms of service, the commissions, fees, policies on withdrawals and deposits, complaints, inactivity and so on. Therefore, without a legal document in place, traders should not sign up with a broker. Otherwise, they are leaving themselves open to being scammed, and once they are, there will be nothing they will be able to do to retrieve their hard-earned money.

• Impossible Returns Promised

Cryptonary Farm seems to have based their entire scam on the promise of massive returns. This broker does not have any trading accounts, but does have investment plans. And these investment plans are guaranteed to give you as much as 1200% returns – in one single day!

We need to point out that there is no broker (a legitimate one, that is) that can promise you this kind of a return. Firstly, most traders tend to lose money while trading. In fact, about 75% to 85% of al trades carried out end up in losses. And secondly, even those investors that do make profits rarely make a profit of more than 40% to 60% – over an extended period of time!

Therefore, the kind of profits this broker is promising are just impossible to achieve, which tells us once again that this broker is a total sham – and scam.

• Shoddy Website

Legitimate brokers go out of their way to make sure that their websites are not only attractive, but also filled with all the necessary information and offers that will attract traders.

With Cryptonary Farm, on the other hand, all you get is a really poorly designed incomplete website. There are pages that do not even have any relevant content in them. The FAQ page, for example is almost empty, as is the About Us page. This is a scammer that hasn’t even made a basic effort!

• Deposits Only Through Cryptocurrencies

The only way you can make deposits is via cryptocurrencies – Bitcoin, Ethereum, Litecoin and Bitcoin Cash. Unfortunately, this is another sign of a scam since crypto transactions are completely anonymous and untraceable. Therefore, once you have deposited the huge amounts of money this broker is demanding, there will be no way that you will be able to get your money back. 

Conclusion

Cryptonary Farm is a clear scam – and a shoddily constructed one at that.

Cryptonary Farm

2.3

User Experience

3.2/10

Payment Options

2.2/10

Security

2.0/10

Support

2.0/10

Reputation

2.2/10

Pros

• None

Cons

• Lack of Regulation
• No Trading Software
• No Trading Conditions
• No Legal Documents
• Impossible Returns Promised