CrypticBitFx is an online trading platform that claims to have 23 years of trading experience. However, upon verifying the information on its website, there are obvious contradictions in its history. The platform claims to have been established in Australia in 2013 and boasts extensive experience in financial trading.
However, it has been confirmed that the content of its "ABOUT US" page is completely plagiarized from the broker TMGM. Meanwhile, a Whois search shows that its website domain crypticbitfx.com was actually registered on August 19, 2023, and was acquired by the current team on August 13, 2024.
Platform Background
The platform's official website shows that it is registered as a UK company, providing the registration number 10263501. However, a search with the UK Companies House reveals that the number actually belongs to another company, CRYPTOX LTD, which is currently proposed for dissolution. This further reveals the false nature of CrypticBitFx's company background information.
Trading Conditions and Technical Support
Trading Conditions
The platform claims to offer spreads starting from 0 pips, leverage up to 1:500, and a minimum deposit requirement of $5000. However, these conditions are neither market-verified nor accompanied by clear execution standards, making their authenticity questionable.
Account Types
The platform offers the following four account types:
- Starters Package: Minimum deposit of $300, maximum of $800, supports hedging, and provides full IT support and referral bonuses.
- Silver Package: Minimum deposit of $1000, maximum of $3000, supports short-term or long-term trading.
- Diamond Package: Minimum deposit of $4000, maximum of $10000, supports both short-term and long-term trading, offering more choices.
- Elite Package: Minimum deposit of $12000, maximum of $100000, suitable only for long-term traders.
Although there is a variety of account types, the minimum deposit threshold is high, and there is a lack of detailed explanation on specific trading terms and service details.
Trading Software
CrypticBitFx does not provide industry-standard MT4 or MT5 trading software but instead requires users to use its self-developed web trading system. This system not only lacks authoritative certification but also poses challenges in ensuring transparency and security in the trading environment.
Regulation and Compliance
CrypticBitFx claims to be regulated by the Australian Securities and Investments Commission (ASIC) and Vanuatu Financial Services Commission (FSC). However, upon verification:
- The ASIC regulation number 436416 actually belongs to Trademax Australia Limited under TMGM.
- The Vanuatu regulation number similarly corresponds to Trademax Global Limited under TMGM.
CrypticBitFx has not been authorized by any legitimate regulatory body. Its act of misappropriating regulatory information from other brokers not only seriously violates industry norms but further suggests fraudulent activities on its platform.
Company Address and Contact Information
Claimed Company Address
The platform's official website lists its company address as "71-75 Shelton Street, Covent Garden, London United Kingdom". However, a search on the UK Companies House site shows that no CrypticBitFx company is registered at this address.
Contact Information and Social Media
The platform only offers contact through email ([email protected] and [email protected]) and has not established any official accounts on mainstream social media platforms like LinkedIn, Facebook, and Twitter. This lack of transparent communication makes it difficult for users to trust the platform's authenticity.
Website Template and User Traffic
Website Template
The design of the platform's official website is identical to several known scam platforms, such as
