Cronosca Review – Crypto Scam to Watch Out For

Anonymous service providers can claim just about anything they want on their websites. That’s why you will see Cronosca advertising their platform as a top notch technological solution. Supposedly serving millions of people is their day to day activity. But the truth is a little more than a few internet fabrications and false ads. This Cronosca review brings you nothing but raw facts about this suspicious platform.

Is Cronosca a Scam Broker?

Determining if a broker is legit or not has a single path. The existence of a license is the only real proof of a firm being authorized to perform bank transactions and investment services. Cronosca offers no such proof on their website. Any legal docs are also completely omitted from the site. 

There was no other way but to start checking with the Tier 1 regulatory bodies if they have any intel on this site. Search results imply that FCA, BaFin, CySEC, ASIC and CONSOB have no data about Cronosca. This isn’t a surprise, considering the website is relatively new. 

This leads us to the conclusion about Cronosca operating without an obligatory certificate. If the website at least revealed the company’s location, we’d check if they were perhaps regulated with a local financial supervizor. But not even that is available. And the firm is quite restrictive about new customers – they only allow invited users to join. 

There is simply no way to find out anything about this anonymous crypto trading platform. Evidence suggests a new domain with no legal rights and licenses to offer financial services. High caution is advised.

The lack of transparency brings us to another issue. This painfully obvious display of carelessness about regulatory standards only points to the fact that Cronosca doesn’t pay attention to law. Cryptics is also an illicit site focusing on crypto investments.

Being untransparent about the trading conditions, deposits and withdrawals and contact channels is also a red flag. We can only assume the level of risk you take when trading here. Who would, in their right mind, pick an anonymous service provider they know nothing about? Know better and skip investing here, as attractive as it may sound. 

Cronosca Platforms – A Software Comparison

The only way to access the Cronosca trading app is to download it to your mobile device. The website only ever gives the QR code which you can scan and get the app on your Android or iPhone. There’s no desktop version. 

Since we weren’t able to get to the traders lounge, we can’t confirm or deny the existence of a web trader. What should be a proprietary trading platform is in no way revealed on the website so we can’t know its features either. Very shady and untrustworthy. 

Reputable brokers like Benchmark Finance can offer you a variety of trading platforms. All those software are well-equipped and functional. You don’t ever have to risk using an anonymous service like Cronosca.

 What Financial Instruments Does The Platform Include?

Cronosca is primarily focused on crypto currency trading. The nature of the business is such that Cronosca only deals with digital currencies. In accordance with that, Cronosca is not a typical brokerage platform. The several available crypto currencies for buying and selling are BTC, BCH and USDT. Unfortunately, due to the restricted access, we couldn’t verify if there were more instruments of this type available. 

Cronosca Countries Of Service

With the rise of popularity and mass expansion of the crypto market came numerous fake trading platforms. Cronosca is one of them. Digital currencies are an asset which most traders are interested in. This allowed Cronosca to reach various traders and countries. Some of the areas they mostly focus on are:

• United States
• China
• Italy
• Brazil 

Account Options Offered by Cronosca

Unlike most other financial services providers of this kind, Cronosca doesn’t have a list of available account types. This implies that only one trading account exists for all traders. Not all that convenient for traders enforcing significantly different strategies. 

What’s more, Cronosca doesn’t even specify which features come with the single account type that is offered. Another red flag and a display of breaking the transparency regulations. 

Can a Trader Use a Demo Account?

As a new customer, we tried to open an account with Cronosca. That prospect wasn’t fruitful in the end. Because Cronosca likes to filter new victims, only those with the invitation code can join. 

When we tried to pick an account type, these options didn’t exist. Demo account and its possibilities aren’t mentioned anywhere on the site, either. At that point we were pretty convinced Demo accounts weren’t available for trading on this platform.  

Terms of Service for Cronosca 

Yet another reason not to trust Cronosca is the absence of the legal docs. Any regulated platform is obligated to display their work ethics and the principles of their conduct. That’s the main purpose of T&C, as well as the Client Agreement text. 

Perhaps these documents were available, but we couldn’t access them because we didn’t manage to open an account. Even without one, site visitors should be able to preview them. This again brings us to the transparency issue. Either way, always pay attention to what these documents say about your responsibilities and limits. Usually, that’s where it is revealed how much are the real trading costs, hidden fees and special conditions pertaining to payouts. 

Leverage, Spreads and Fees

Cronosca doesn’t back away from their anonymity image for a single second. The same way they do not reveal the legal docs, trading instruments, platform or payout conditions, they do not mention spreads, fees and leverage. 

We wouldn’t be surprised if the leverage is astronomical. Cronosca follows no regulatory framework, whatsoever. Nothing stops them from making their own trading conditions and charging customers ridiculous amounts. 

If we had access to the legal docs, perhaps we’d be able to find out more about the trading costs. This way, customers are left in complete darkness until they become an owner of a Cronosca trading account. 

What Should I Do If I Have a Cronosca Problem?

Whenever in doubt about a broker or platform, please don’t hesitate to contact us. Together we can analyze if they’re indeed legit and if they’ve made some illegal steps to defrauding you. Whether you need advice or consultation, we’re here for you. Our service is free, so don’t shy away from getting in touch. 

If you’ve been victim of a Cronosca scam, or anyone else you know, reach out to us for help on recovering the funds you’ve lost. Do it while it’s still not too late.