Cryptorandy is a cryptocurrency trading platform that claims to offer a variety of services, including CFD trading, margin trading, and spot trading. However, there is a growing body of evidence that suggests that Cryptorandy is a scam.
Company Overview
Cryptorandy is a relatively new company, having been founded in 2022. The company’s website does not provide any information about its team or management, which is a red flag. Additionally, the company’s website is full of grammatical errors and typos, which further raises concerns about its legitimacy.
Services or Products
Cryptorandy claims to offer a variety of services, including CFD trading, margin trading, and spot trading. However, there is no evidence that these services actually exist. The company’s website does not have any live trading charts or order books, which is another red flag.
License and Regulations
Cryptorandy is not regulated by any major financial regulatory authority. This is a major red flag, as it means that the company is not subject to any oversight or scrutiny. Unregulated brokers are more likely to engage in fraudulent activities, such as front-running, market manipulation, and money laundering.
Why Dealing With An Unlicensed Broker Is Risky?
There are several reasons why it is risky to deal with an unlicensed broker. First, unlicensed brokers are not subject to any oversight or scrutiny, which means that they are more likely to engage in fraudulent activities. Second, unlicensed brokers are not required to keep client funds in segregated accounts, which means that there is a risk that your money could be lost if the broker goes bankrupt. Third, unlicensed brokers are not required to provide dispute resolution mechanisms, which means that it could be difficult to get your money back if you have a dispute with the broker.
Legal Warning Against Cryptorandy
The Financial Conduct Authority (FCA), the UK’s financial regulator, has issued a warning against Cryptorandy. The FCA has warned that Cryptorandy is not authorized to provide financial services in the UK and that it is likely to be a scam.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Client Feedback
There are several reports of people who have lost money to Cryptorandy. One person claims that they deposited $10,000 into a Cryptorandy account and then tried to withdraw the money, but the broker refused to process the withdrawal. Another person claims that they lost $5,000 after trading with Cryptorandy.
Feedback About Their Trading
People who have traded with Cryptorandy have reported that the platform is rigged and that the prices are manipulated. They also say that customer support is non-existent and that they have been unable to get their money back.
Feedback About Their Customer Service
Customers who have tried to contact Cryptorandy’s customer support have reported that they have been ignored or given a runaround. Some people have even claimed that they have been threatened by the broker’s representatives.
How Can “Reviews Advice” Help You If You Get Scammed?
If you have been scammed by Cryptorandy, there are a few things you can do. First, you should report the scam to the FCA. You can also file a complaint with the Financial Ombudsman Service. Additionally, you can try to get your money back through a chargeback with your credit card company.
Besides these, you can contact us and submit your case through our online form. We will evaluate your case and fix a free consultation call. We will provide you with proper guidance and will give some recovery service recommendations to help you recover the lost fund.
Final Thought
Cryptorandy is a scam broker that should be avoided. If you are considering trading with Cryptorandy, I urge you to reconsider. There are many legitimate brokers out there that offer safe and secure trading services.
