Cryptocom has been identified as a risky opportunity by Intelligence Commissioner users. It is similar to Invotrade. We’ve received over 3 complaints against Cryptocom.
The dubious forex trading platform, lack of regulatory conformance, and anonymity of Cryptocom are significant red flags. It does not furnish transparent information regarding its legal structure, base of operations, or licenses. Cryptocom is a highly risky investment and is likely to be a scam, as it has high withdrawal fees, unclear trading costs, and complaints about inadequate customer support.
We suggest working with a trustworthy broker with specialized staff, latest tech and most importantly, customer-centric trading conditions. After reviewing 1000+ brokers, we rank the following company as the best:
Key Takeaways
Is Cryptocom Regulated? Do They Have a License?
One of the most obvious difficulties with Cryptocom is its total anonymity. Even in the Customer Agreement, the organization does not offer a name or location. This anonymity is a major red flag, as professional brokers disclose full information about their legal structure, base of operations, licenses, and regulatory compliance. Without such openness, entrusting Cryptocom with your funds would be a significant risk.
Furthermore, while the Client Agreement mentions Estonian law, an anonymous website like Cryptocom cannot function as a broker in a regulated state. Notably, Russian financial authorities have blacklisted Cryptocom, highlighting its questionable origins.
Before investing in financial products, make sure you use a qualified intermediary rather than falling for online scammers. Licensed brokers in the EU, for example, must maintain a minimum net capital of EUR 730,000 to ensure financial stability and a serious long-term strategy.
Client monies are maintained in segregated accounts, which protect them in the event of a broker’s insolvency. Additionally, EU brokers are members of the Investor Compensation Fund, which provides up to EUR 20,000 per person in the event of broker insolvency. Regular transaction reporting by these brokers increases investor safety and market transparency.
The lack of regulation or the presence of poor regulation is a huge red flag. It means Cryptocom might be a scam or most likely, an illegal operation.
Companies offering investment services or opportunities without having a license can vanish without leaving a trace. Furthermore, the lack of a regulatory license allows them to get away with it and face no legal consequences.
That’s why it’s vital for you to always check a company’s regulation status as well as its license information. The presence of a license allows consumers to reach out to an authority if something goes wrong.
In the case of Cryptocom, victims have nowhere to go due to the absence of a watchdog or license.
You should ask yourself the following questions when you come across a new investment firm or opportunity:
- Does the investment provider maintain transparency about its CEO?
- Do they have a license from a renowned regulatory authority?
- If the need arises, can I reach out to an authority to report this company as a scam?
Trading Conditions and Deposit/Withdrawal Methods at Cryptocom
Cryptocom uses web-based trading tools, but its presence does not imply validity. Scammers frequently utilize rigged platforms to provide the appearance of trade, while the money goes straight into their pockets. In contrast, licensed brokers provide proven software such as MetaTrader 4 and 5, which are known for their comprehensive features, customization options, and multi-device compatibility.
Cryptocom’s minimum deposit is inconsistently quoted as $250 or $2,500, but established brokers accept deposits as low as $5 or $50. Furthermore, Cryptocom pushes consumers to solicit a deposit rather than complete transactions, leaving it unclear whether payment alternatives are available. Scammers frequently prefer cryptocurrencies since they are non-refundable, whereas real brokers provide a number of transparent payment methods like as bank transfers, credit/debit cards, and established e-wallets like PayPal, Skrill, and Neteller.
Cryptocom claims to provide a variety of trading instruments, including forex, commodities, cryptocurrencies, indices, metals, and equities, but there is no indication that they are genuine. The trading platform displays a zero spread, which usually represents a commission per lot. However, Cryptocom does not disclose any information on trading costs, which is another red flag. Its leverage of 1:200 also indicates that company is not a licensed broker, as regulated areas have rigorous leverage limitations.
Furthermore, Cryptocom’s trading platform displays a zero spread, which usually indicates a commission per lot. However, Cryptocom does not disclose any information on trading costs, which is another red flag. Its leverage of 1:200 also indicates that company is not a licensed broker, as regulated areas have rigorous leverage limitations.
Cryptocom charges high withdrawal fees and requires a minimum withdrawal sum of $100 to $250. More troubling is the 10% fee on accounts that do not match a vague trading volume criterion, a frequent scammer strategy to discourage withdrawals.
However, it’s worth noting that many forex scams disable their payment channels before shutting down their operations.
They might give you multiple reasons including:
- A technical error
- A glitch in their system
- Banking issues
- A “hacking attack”
And many others.
But in 9/10 cases, shady forex brokers stop making payments and keep the money to themselves. Hence, the payment methods we discussed here might not work.
To avoid such scenarios, it’s best to work with a reliable and trusted broker.
Cryptocom Customer Service: Do They Handle Complaints Well?
When it comes to forex brokers, you should only measure the quality of their customer service if they respond to your complaint.
In the beginning, shady brokers tend to remain very accessible.
This means their representatives will keep calling you until you invest with them. Furthermore, they will act friendly and make it seem as if you’re one of their most valuable consumers.
However, they do all this just to win your trust.
Shady brokers understand that to convince someone to give them a large sum, they will need to seem like a friend.
Nevertheless, when you have invested a considerable amount of money and need to get it back, their customer support will become inaccessible.
All of a sudden, their numbers would either stop responding or become unavailable.
Still, they might remain accessible to convince you to invest further. Also, they might begin by making a few excuses regarding your payment.
However, in the end, customer support won’t resolve your issues and become increasingly unavailable.
If you have information on a scam or criminal operation, you can get access to 40+ investigative journalists & news outlets for free. Send us a detailed report here and if you qualify, we will forward your case ahead.
Cryptocom Reviews: What Do Others Say?
It’s worth noting that many scammers tend to purchase fake reviews. Buying fake reviews has become extremely easy and it’s a multi-million dollar industry.
Even if Cryptocom might not be a scam, brokers like them rely on fake reviews to increase their credibility.
TIME Magazine investigated the fake review industry and estimated it to be worth more than $150 million. Certainly, there are a ton of scammers who want to seem legitimate and a bunch of fake reviews is the most effective way to do so.
That’s why you shouldn’t trust the online Cryptocom reviews easily.
It’s easy to identify fake reviews as well. You should look out for 5-star reviews posted by temporary accounts (profiles that only posted 1 or 2 reviews on the platform). Also, you should see if the positive reviews share any detailed information about their experience with the firm or not.
In the case of Cryptocom, chances are, you wouldn’t find many legitimate reviews.
Another prominent way brokers like Cryptocom enhance their credibility is by burying negative reviews and complaints under a lot of fake reviews.
This way, when you’ll look up “Cryptocom reviews”, you might not find many complaints. Or, you might find them buried within numerous reviews praising Cryptocom.
You should always look out for consumer complaints. In the case of Cryptocom, the most common complaints I found were about:
- Poor customer support
- Delays in payments
- High fees
- Lack of transparency regarding their leadership team
- Aggressive sales staff
Do you have a similar complaint about Cryptocom? You can share your complaint in the comment section or submit an anonymous tip.
Is Cryptocom Legit Or a Scam?
Cryptocom is an unregulated entity. Although they might fall under the jurisdiction of a watchdog, they don’t have the license to offer financial services to consumers.
The lack of a license means they are not answerable to any regulatory authority. As a result, the people behind Cryptocom can run away with your money without any prior notice. It would help if you were extremely cautious when dealing with an unregulated service provider.
The absence of a watchdog also means you cannot report to them to anyone.
Also, due to the absence of specific regulations, there is no provision protecting you from the insolvency of this entity. If they go bankrupt, you won’t be able to do anything about it.
Can You Trust Cryptocom?
Cryptocom raises multiple red flags that indicate it is not a legitimate broker. Cryptocom cannot be trusted because to its anonymity and lack of regulatory compliance, as well as its dubious trading platform and withdrawal restrictions. Investors should seek out licensed and regulated brokers who provide transparency, security, and dependability. To avoid falling prey to a fraud, always verify a broker’s legitimacy before entrusting them with your money.
All the evidence suggests that Cryptocom might be a scam. You shouldn’t risk your funds with a broker you don’t fully trust.
That’s why we recommend working with a trusted broker. That way, you can avoid any hiccups and be certain of
Frequently Asked Questions
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How Forex Scams Work
Intelligence Commissioner investigates & reviews online money-making opportunities. We strive to provide critically helpful information to our readers and assist them in identifying scams. 
