Reason to avoid: No License
Listed Date: December 21, 2018
Top 3 Regulated Forex Brokers
Beware TheCryptoLimited is a Non-Licensed Broker. It is NOT SAFE to trade.
Crypto Consultancy Ltd. TheCryptoLimited
Registration Address/ License:
No License, No Regulation.
TheCryptoLimited is a trading provider that claims its transparent real trades and rates through an innovative trading platform and reliable operation. The address of the firm states United Kingdom with a registration name of the company Crypto Consultancy Ltd. However, the facts show that every financial investment firm incorporated in UK jurisdiction should hold a license from FCA. Since TheCryptoLimited does not bother to be a registered firm, while even the address might be a faked one.
The broker states its several prizes received for innovations, as well as the highest ratings for reliability and trust, and supposedly Voted best Bitcoin broker 2017. However, the information doesn’t seem to be true as there is no any mentioning to the official sources or confirmation of the status. In addition, the broker received its warning from a France authority while further, the EU regulators followed an alert, since the broker used heavy advertising tactics to attract potential clients.
“The Autorité des marchés financiers (AMF) and the Autorité de contrôle prudential et de resolution (ACPR) warn the public about a number of unauthorized online investment services in France for derivatives whose underlying include crypto assets. A list of unauthorized sites offer trading of derivatives without its permission to do so.”
As we recommend to any trader, especially beginning ones choose on the broker carefully and to ensure that the entity offering regulated services that ensure clients protection. Scams often fake information they provide, thus the lists of registrations assist in verification through official regulatory websites at all times. Moreover, broker reviews may assist to check on the brokers’ data. Therefore, in order not to fall under the frauds trade only with regulated entities and trading providers.