ApexCrypt Review – Who Is Apexcrypt.net Broker And Should You Trust It?
ApexCrypt is based in the already notorious Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, the Marshall Islands, along with TradeFM, Wayne Global Limited, and numerous others. As such, it made us wonder whether it’s a regulated firm or another scheme.
Read our Apex Crypt review and you will find it all out.
|Regulated by:||Unlicensed brokerage|
|Blacklisted as a Scam by:||CNMV, A-TVP, FSMA|
|Owned by:||Apexcrypt LTD|
|Headquarters Country:||Marshall islands|
|Types of Assets:||FX, cryptocurrencies, bonds|
|Free Demo Account:||No|
|Accepts US clients:||Yes|
What About ApexCrypt Regulation?
ApexCrypt is a brand of Apexcrypt LTD from the Marshall Islands. Knowing that this offshore country has one of the loosest financial regulators, GLOFSA, we suspect that ApexCrypt went unregulated, under the supervisory radar. And, of course, we were right. This broker is not licensed by any offshore or Tier1 license provider.
Why Must a Broker Have a License?
Brokers must have a license for several reasons. The first and the most important one is funds’ safety. If you’re dealing with a regulated firm, you know that your first is held in separate bank accounts, and they’re not used for the company’s expenses. You also know that a firm has a compensation fund, and you’re covered, no matter what.
Since Apex Crypt is not actually regulated, you have no money-back guarantee, which you may want to consider.
ApexCrypt Warnings From Financial Regulators
Several financial regulators have issued ApexCrypt warnings since they have received complaints. The first one was Spanish CNMV, stating that ApexCrypt provides unauthorized financial services and gives financial advice without regulatory approval.
This warning was followed by Belgian FSMA.
And Slovenian A-TVP.
Traders Reviews About ApexCrypt Scam
Let’s say that reading ApexCrypt reviews will ensure you never start an account with this firm. Clients are reporting so many issues, the biggest one being withdrawals. It seems that the firm doesn’t allow anyone to get their funds back, not to mention profits. They go as far as freezing clients’ accounts and disabling access to funds.
ApexCrypt – CFD Fraud
As the name suggests, this firm is mainly focused on crypto investing. They’re offering to invest in bonds and currency pairs, but all via crypto assets. CFD or contract for difference is one of the riskiest investment types, as you’re not holding the asset physically, and even the slightest price change can impact your trade heavily due to leverage. Especially when dealing with firms such as Apex Crypt, offering unregulated leverage.
Instead of thinking about whether you will wake up with no funds, find yourself a legitimate firm following ESMA and MiFID rules and invest safely.
Supported Trading Platforms – Available Trading Software
ApexCrypt offers proprietary WebTrader without any special feature. Like many scam firms, this one didn’t bother to provide reliable software with essential trading tools. You’re left with several charts and indicators, no EAs, and no social trading.
Furthermore, the broker has no mobile app, so all the trading has to go via a mobile web browser, which is quite inconvenient.
Everything About ApexCrypt Trading Accounts
Apex Crypt calls its account types “crypto portfolios,” suggesting that all your funds are in the crypto wallet. There are 3 different portfolios:
- Optimal – 10 coins and 15% average ROI
- Platinum – 20 coins and 25% ROI
- VIP – 40 coins and 45% ROI
Basically, the more you invest, the more instruments you have at your disposal, and the higher the return. However, we haven’t seen how much you should invest to get access to these portfolios and the promised return.
ApexCrypt Range of Trading Instruments & Markets
The firm allows trading on:
As mentioned, every asset is traded against crypto, and you’re expected to have a certain percentage in return. Since the crypto market is hardly predictable, not knowing basic terms, such as leverage, spread, and minimum deposit goes against this broker.
ApexCrypt Deposit and Withdrawal Methods
Apex Crypt gives no information about deposit and withdrawal methods and has no Terms and Conditions or any kind of Policy that would help us gather information. We’ve learned from reviews that clients were able to deposit using:
- Debit/credit cards
- Wire transfer
- Crypto wallet
However, we know nothing about fees, commissions, or withdrawal requirements. It’s a reason more to avoid ApexCrypt scams and find a legitimate, transparent brokerage.
What to Do if I Get Scammed? – Tell Your Story
If you were scammed by ApexCrypt, it’s time to share your story. Our chargeback specialists have assisted many people in your situation, and we’re ready to help you too.
But What Is A Chargeback?
Suppose you used your credit card for a transaction; you can file a dispute for chargeback within 540 days. If your funds were stolen via wire transfer, you could recall it. There are various options to retrieve your funds, and we’re here to find the best one. Contact us via online chat to book a FREE consultation, and let’s start right away!
What Is ApexCrypt?
ApexCrypt is an online Forex and CFD trading provider based offshore with no license.
Is ApexCrypt a Scam Broker?
ApexCrypt has been blacklisted in Spain, Belgium, and Slovenia for fraudulent activities.
Is ApexCrypt Available in the United States or the UK?
The broker is available in both the UK and the US.
Does ApexCrypt Offer a Demo Account?
No, ApexCrypt doesn’t offer a Demo account and requires you to deposit the funds immediately.