OneCryp.To Review – This Scam is Not Healthy For Your Budget

OneCryp has a bad identity problem. On one page of the website, they claim to be a Fintech company. The other says that their corporate HQ is situated in Jakarta, Indonesia.

Besides the alleged founder being a person from Finland, there are no mentions about this nation anywhere else on the website. So, what is OneCryp and why are they a threat? See more in our OneCryp Review.

Are OneCryp Regulated? Do They Have a License?

The allegations that OneCryp.To is a company from Finland have some legal weight to them. One may not simply open a website, and start trading in the EEA without a license. The main financial and securities regulator in Finland is Finanssivalvonta, or FIN-FSA for short.

Finland is a nation member of the EU. Their regulator, FIN-FSA, is fully compliant with the MiFID agreement, which is supervised by ESMA. Due to the strict regulatory standards, financial regulators from EEA are considered to be Tier-1. They all have strict guidelines when it comes to the securities markets.

FIN-FSA, just like other EU regulators, requires a starting capital of at least 730 000€, and a Compensation Fund of 20 000€. Additionally, a leverage restriction of 1:30 is imposed on CFDs, with 1:3 max leverage on Cryptocurrencies.

Other regulation is in effect as well, and brokers in the EU must provide Segregated Bank Accounts and Negative Balance Protection. Bonuses are not allowed anywhere in the EEA.

The company also alleges that their corporate HQ is in Indonesia. This country, of course, has another set of regulatory standards dictated by OJK. Compared to the strict EU standards, OJK conditions are somewhat lax. This does not mean that they are nonexistent, of course.

We wouldn’t be making a claim that OneCryp is unlicensed if we didn’t check the company registers beforehand. We can tell you right away that neither FIN-FSA or OJK have any information on OneCryp, which means they are not authorized in either of these nations.

Further searches with FCA, BaFIN, CMNV, CONSOB, AMF, AFM and CySEC returned no results either. This is sound proof that OneCryp is indeed an unlicensed entity.

Where is the OneCryp.To Scam Most Active?

We do not doubt that the OneCryp scam targets people from all around the world, but the majority of their victims live in EU nations. These nations have stable and well developed economies. Their citizens enjoy hefty wages, and greater disposable income compared to most other regions.

The majority of OneCryp victims live in one of these countries:

• Lithuania
• Latvia
• Sweden

Which Trading Instruments Does OneCryp.To Offer?

You shouldn’t expect much from a scam broker when it comes to trading instruments. Their tradable assets are just investor bait, after all. OneCryp, however, is so basic that they are outdone even by other fraudulent brokers like Bitictrade.

That said, we can see that OneCryp does not offer an impressive selection of Cryptocurrencies. The largest instrument selection is in the Forex category.

Here is a list of tradable instruments now:

• Forex – EUR/USD, AUD/CAD, EUR/GBP
• Cryptocurrencies – Bitcoin, Ehtereum, Ripple, Litecoin
• Indices – Euro50, UK100, US100, FRA40
• Stocks – Alibaba, Pepsi, Tesla, IBM
• Commodities – Brent, Gold, Corn, Natural Gas

Can I Test the Trading Environment With a Demo?

Unlike other scam brokers like LBLV, there is a demo account offered on OneCryp. It is a limited time offer, lasting 7 days. The fund pool for simulated trading is set at $500, which is insufficient to effectively test a trading environment.

We’d like to remind our readers that many fraudulent brokers like OneCryp use a demo to appear more legitimate. These demos do not reflect the actual market conditions. In most cases, these demo accounts will show unrealistic profits.

Trading Platforms Available at OneCryp.To

OneCryp offers only the most basic Web Trader to their clients. This platform is often used by faux brokers, as it has poor security that is easily circumvented. The only positive thing about this Trading Platform is that it can be run directly via the Web Browser, and does not require a discrete download or installation.

For the sake of comparison, legitimate brokerages offer the industry leading MT4, MT5 and cTrader Platforms to their clients. Authorized brokers still use the Web Trader, but only as a backup for those who can’t access the market by other means.

With that said, we can say that OneCryp Web Trader is utter rubbish. It implements only the most basic trading features, with the graphs directly imported from TradingView. The application is most easily compared to a Binary Options Trader – there are only buy and sell options, and a selection of instruments. Unlike a Binary Options Trader, however, the graphs are not in real time, which further undermines your endeavors. This is OneCryp’s idea of advanced AI technologies.

OneCryp.To Payout Conditions

There is no Terms and Conditions document anywhere on OneCryp website. It is always a bad sign when a broker wants you to comply with some conditions that you can’t examine thoroughly.

When choosing a broker for your needs, you should always select a transparent company. Withdrawal policy is one of the most important aspects of trading. You wouldn’t want to have a nasty surprise with hidden fees that undermine your profits.

We have seen that many of the clients of OneCryp complain about payouts. Knowing how scam brokers operate, it might be impossible to withdraw any money from their platform without legal assistance.

What Should I Do If I Have Been Scammed by OneCryp.To?

Don’t be ashamed if you have been defrauded by OneCryp.To scam. Instead, you should fight back and give it your best shot at recovering lost money! Our team of legal experts is on hand to help you along the way.

Speed is crucial with these chargebacks. With every passing second, your chances of recovering your assets become slimmer. We have implemented a live chat which you can use for the quickest response. Do not throw your hard earned cash away! Our first consultation is free, and our staff has great experience dealing with numerous cases just like yours.