Research of Cryptosato: truth and myths
When choosing a broker, it is necessary to take into account many factors such as the presence of licenses, experience, and client reviews. However, there are cases when a seemingly reliable company has a questionable reputation, like Cryptosato. In such situations, it is important to conduct a thorough investigation before drawing final conclusions.
Company claims
Cryptosato company claims to have four years of experience in financial markets and offers access to an innovative trading ecosystem. According to the platform’s data, 105,000 traders actively trade on it, making around 270,000 transactions daily. These numbers indicate the popularity and liquidity of Cryptosato. However, reviews about the company have only recently started to appear, which raises doubts.
A detailed examination of the domain history reveals that the website cryptosato.com was only registered in 2018. However, before that, the domain was for sale, which may indicate hidden motives of the platform creators.
Suspicious contacts
The contact information on the Cryptosato website turned out to be fake. Support via email and phone is promised, but in reality proves to be unavailable. Additionally, the office address in Birmingham turned out to be inaccurate, further increasing distrust in the company.
Thorough verification
The company claims to have a full set of licenses and permits from regulators, including FCA (United Kingdom), FSC (Republic of Mauritius), and IFSC (Belize). However, actual verifications show that Cryptosato operates without the necessary permissions, which is a violation of the law and supports negative reviews of the company.
Furthermore, the lack of a demo account on the platform and questionable account opening conditions for traders raise suspicions about the honesty and reliability of Cryptosato.
Reviews and conclusion
Reviews about Cryptosato are mostly negative, with clients losing significant amounts of money due to the company’s dishonest activities. Under the guise of a financial advisor, Cryptosato deceives traders, despite promises of quality support and innovative opportunities.
Suspicious methods of operation
Cryptosato actively promotes questionable trading opportunities and conditions for clients but fails to live up to its promises. These actions only confirm the unreliability of the information and the dishonesty of the company towards its clients.
Based on the conducted research, it is fair to say that Cryptosato is an organization not deserving the trust of traders and potentially hazardous for investments.
I am thoroughly disappointed with my experience with Cryptosato. Firstly, the customer service was abysmal. After experiencing issues with my account, it took several attempts and weeks before I could get any help. Their response times were unbearably slow. Furthermore, the trading platform was ridden with technical issues, glitches led to loss of my profits on more than one occasion. Their fees were also much higher than other brokers on the market in 2023. In terms of reliability and value for money, Cryptosato has disappointed immensely. I would advise anyone considering doing business with them to think twice.