Is CryptSparkFx a scam? https://cryptsparkfx.com/

By Seth, from United States, July 28, 2021 at 08:59 PM

I met a person online and they sent me this site after we talked for 4 weeks and I think it is a scam. I would like another opinion.

Answer: Hi Seth,

According to the CryptSparkFx website, the company is registered in London with UK company Number: 10307906 to conduct effective trading and investment transactions on cryptocurrency. However, we did not find any information about this broker in the main UK regulator Financial Conduct Authority register. Most probably the company number provided is the number from the Administration of financial markets in the UK, when Administration of financial markets is not the regulator that approves licenses for the Forex brokers in the UK, it is the task of the Financial Conduct Authority. We do not see any other licenses that this broker holds, so we can conclude the broker is NOT regulated and should be avoided.

We never advise trading with an offshore or non-licensed broker, since the financial investment service they deliver is not trustable. The reason is simple, the broker may promise the most ever competitive trading conditions or the trading environment, yet the trader has no any guarantee from the official entities that oversee the Forex industry. Thus the engagement to trading with such a companies means the trader will believe only on the broker’s words, and of course, it is a high risk.

If you are looking for a broker to invest with, check our list of the Regulated brokers.

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