Cryptonix Team Review

Is The Cryptonix Team Scam or Legit Broker?

No, it is not safe to trade with Cryptonix Team. The broker does not give any clear information about its registration. On the contrary, the addresses it provides are confusing, as it states its UK location, however, also mentions being located in Sofia, Bulgaria. To operate in the mentioned locations financial services providers need to hold licenses from the local authorities. This is not the case with Cryptonix Team. So, it can be concluded that the broker is unregulated, offering doubtful services to its clients.

• We never recommend traders choose unregulated or offshore brokers, as the services they provide are not protected by any legal rules. 

What is Cryptonix Team?

The Cryptonix Team claims that the company was founded in June of 2012, while the firm is a digital currency wallet and platform where merchants and consumers can transact with new digital currencies like bitcoin, Ethereum, and litecoin. The broker offers to trade on 45+ most popular exchanges from a single account while the broker is based in the UK, London. However, The Cryptonix Team mentions also its ownership and operation by Sveti George 2016 Registered in Sofia Bulgaria.

• Actually, this is quite confusing, as the company gives uncertain conditions to its address and therefore legitimate status. Obviously, that means that the broker is not regulated, nor authorized to deliver its service within the EU. The most crucial factor with non-regulated entities is that the company does not fall under oversight, while the funds can be managed in any possible manner. That means that investment with non-licensed brokers like The Cryptonix Team can be very risky while there is no any assurance for the safety of funds.
• Besides, the regulatory authorities that constantly monitor and regulate forex brokers issue warning against those who are considered risky businesses and warn clients to not engage in potential fraud. Before signing up with the broker check on its legal information, licenses, and compliance with international law, and then choose the best suitable for your particular needs.

The Cryptonix Team Review Conclusion

In conclusion, we advise avoiding The Cryptonix Team and similar offerings and instead checking out the trusted lists of brokers. This list of trusted brokers includes reputable ASIC Regulated brokers, FCA Regulated Brokers, or similar providers that significantly lower the risks in trading. To avoid any risks and losses traders should trade with well-regulated brokers such as IG Markets and BlackBull Markets.

The Cryptonix Team Update

Our research revealed that the Cryptonix Team website is inactive. This means the broker has muted its trading offering and does not operate. However, we recommend avoiding and staying alert in case of any proposals.