Crypto Lloyds is yet another online trading scam. According to our research, the company presents itself as a part of the Lloyds bank, asking customers to invest in cryptocurrencies. Don’t fall for the scheme. Read our Crypto Lloyds review and find it all out.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Owned by:||Crypto Lloyds Ltd|
|Types of Assets:||FX, commodities, shares, cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||Yes|
What About Crypto Lloyds Regulation?
Crypto Lloyds claims to be owned by Crypto Lloyds Ltd. Yet, we haven’t found such a firm in any register. In addition, the Terms and Conditions suggest that the broker belongs under Estonian governing law. Knowing Estonian reputation as an offshore zone in the middle of the EU, we don’t think that Crypto Lloyds operates legally.
Upon checking several Tier1 registers, including FCA, ASIC, and BaFin, we can safely say that Crypto Lloyds broker is an unlicensed cyber-fraud.
Why Is It Important For A Broker To Be Licensed?
It’s crucial for Forex brokers to have a license so that they can ensure funds are safe. For instance, Tier1 regulators require investment firms to have a minimum capital of over 700,000 EUR at any time to reimburse potential victims.
Since Crypto Lloyds is unlicensed, you have no such guarantees.
Traders Reviews About Crypto Lloyds
You will see a surprisingly good score if you check Crypto Lloyds reviews. However, note something. All the good reviews were written at the start when the broker just started operating. Later on, real clients began posting, and their scores fell tremendously.
Here’s just one example.
“This company is a complete scam. Do not invest a cent with them. The money will disappear as soon as they realize that you made their scam.
They claim to be based in the UK, they are in Estonia.
Some of the previous reviews are obviously false.”– Trustpilot Customer
So Is CapitalCore a Decent Broker or a Scam?
Crypto Lloyds broker cannot be trusted. The firm is unregulated, there is no information about the owner and it belongs under the Estonian governing law.
Crypto Lloyds Platform – WebTrader Features
The company offers a proprietary WebTrader, quite similar to other shady firms. For instance, there’s no difference between Crypto Lloyds and 24Trades, another bogus broker.
Instead of risking your funds and getting lousy software, ensure to find a legitimate brokerage providing you with a reputable platform such as MT4 or MT5.
All About Crypto Lloyds Accounts
Clients can choose among 5 Crypto Lloyds account types:
- Starter – $250
- Premium – 0.25 BTC
- Platinum – 0.5 BTC
- Diamond – 1 BTC
- Buffet Club – 25 BTC
Besides the initial deposit, accounts differ in VIP trading signals, leverage, access to trading assets, and more.
Crypto Lloyds Broker – Countries Of Service
The firm is mainly active in:
Wherever you are, note that this firm cannot provide financial services legally as it has no license. Thus, the safest would be to avoid it.
Crypto Lloyds Range of Trading Instruments & Markets
The company’s clients can trade in several markets, including:
- Forex market
Crypto Lloyds Minimum Deposit
The broker requires a pretty standard minimum deposit of $250. Yet, other accounts have high demand, depending on the BTC price. When writing this review, the Premium account required a bit over $5,000, which is not a small gap compared to the minimum deposit.
There’s no reason to involve yourself with scammers. Legitimate firms have even lower initial deposits and are far safer.
Scam Bonus Policy – As A Way To Keep Your Money
Well, here we have a malicious Bonus Policy designed to dissuade you from withdrawals. The clause states: “Unless otherwise explicitly agreed, Non-Deposited Funds are not available for withdrawal.”
Thus, profit made from the bonuses is not available for withdrawal either, and there’s no way to distinguish between money earned from your investment and the broker’s incentives.
Crypto Lloyds Unfavorable Trading Conditions
Don’t be surprised if half of your profits go to cover the firm spreads and swaps.
Leverage and Spread
While the general agreement is to provide leverage of 1:2 for the crypto market, the broker offers up to 1:20. That is 10 times more than regulators allow. Besides, the swap starts from 0.6 pips, while the spread is not specified.
Crypto Lloyds Deposit, Withdrawal Methods, and Fees
The company accepts deposits via credit cards and wire transfers. The credit card is one of the safest methods, as you’re entitled to a chargeback within up to 540 days since the fraudulent transaction occurred.
Besides, you’ll pay fees of 50 units for wire transfer withdrawals and 25 units for credit cards.
Scammed by Crypto Lloyds Broker? – Let Us Hear Your Story
If you fall victim to the Crypto Lloyds broker, let us know. Our chargeback experts are ready to hear your story. Contact us via online chat to book a free consultation and find the best refund solution for your case.
But What Is A Chargeback?
This is a way to recover your funds through the bank. Don’t waste more time. Let’s start the procedure right away and increase your chances of getting your money back!
What Is Crypto Lloyds?
Crypto Lloyds is an online Forex and CFD trading provider without a license.
Is Crypto Lloyds a Scam Broker?
The company falsely represents, claiming to be a UK-based firm when, in fact, it’s based in Estonia.
Is Crypto Lloyds Available in the United States or the UK?
The company provides its services in both of these countries without a proper license.
Does Crypto Lloyds Offer a Demo Account?
No, the broker Lloyds doesn’t offer a Demo account.