Established in January 2018, CryptoFMC is a non-regulated Forex broker and cryptocurrency exchange, providing online trading in cryptocurrency CFDs and digital currency options. CryptoFMC aims to ‘maximize your wealth’ with their financial expertise, through investment guidance offered 24/5. Notably, traders are assured that most cryptocurrency investment portfolios are stored offline in cold storage away from potential hackers, whilst a combination of advanced encryption protocols and block chain technology is used to keep online cryptocurrency assets safe.
CryptoFMC Trading Account Features
Setting up a trading account at CryptoFMC requires customers to fill in a straightforward registration form with information including name, email address, phone number and country. Notably, the base currency of any trading account can be in USD, GBP or EUR. Nevertheless, funds deposited in other currencies are converted to the chosen base currency by CryptoFMC. We saw that before traders can begin cryptocurrency trading on the platform, they are asked to select Bitcoin, Ethereum or Litecoin as the base currency. We couldn’t find details about the minimum initial deposit required to open a trading account or the types of spreads and leverage available at CryptoFMC. We did establish that clients can check their deposits and withdrawal history in the ‘my account’ section at CryptoFMC and that accounts are fully encrypted and protected with two-factor authentication protocol. Importantly, irrespective of trading activity, all accounts are charged a 10 EUR monthly maintenance fee by the broker. However, we saw that CryptoFMC does not charge trading fees to its customers.
CryptoFMC Bonus Rewards
Traders at CryptoFMC are typically offered bonuses as part of the ongoing rewards program. Whilst bonuses may seem very attractive, we recommend that traders read the bonus terms and conditions carefully before accepting. At CryptoFMC clients who accept promotional bonuses such as match deposit bonuses, can’t withdraw funds before completing a trading volume of 30 times the value of the bonus and deposit combined.
Tip: Consider IQ Option instead – the best regulated broker for South African traders with a minimum deposit of only $10!
CryptoFMC Trading Software Features
The trading software offered to customers by CryptoFMC is designed to be accessible to traders through the browser of a desktop computer or mobile device, irrespective of the operating system. Registered customers simply login with their username and password from wherever they happen to be without requiring any kind of software download or plugins.
The CryptoFMC platform offers CFD and binary options trading across a broad range of assets. Whilst traders can see a complete list of assets on the platform with descriptions, expiry times, symbols and trading hours, a separate, comprehensive list of assets and expiry rates, are published on the CryptoFMC homepage. Moreover, CryptoFMC provides all new clients with introductory guide to the trading platform and all the trading tools.
The intuitive trading platform is easy to use with the color red used to indicate falling prices, and the color green indicating rising prices. Importantly, customers can opt to use the ‘Double Up’ and ‘Rollover’ tools on the platform. By utilizing the ‘Double Up’ tool, traders can increase investments in already open positions, thereby capitalizing on strong positions and potentially doubling profit on expiry. The ‘Rollover’ feature enables traders to push the expiration time of an option if they sense that the market will move to their advantage. We noticed that the ‘Rollover’ tool lets traders increase their investment by 30% automatically and can only be used one time on any single open position. However, the ‘Rollover’ tool can’t be used on the last trade of the day as the expiry time cannot be extended beyond the published trading hours.
CryptoFMC Customer Support
CryptoFMC provides customer support through live chat directly on the interface, email and over the phone to a UK telephone number published on the contact page. We saw that customers can request a free telephone appointment by submitting the contact form asking for a call back at a suitable time. Alternatively, customers can ask their personal account managers to organise a meeting over the telephone.
CryptoFMC Payment Methods
Customers at CryptoFMC can fund their trading accounts with digital currency by using personal cryptocurrency wallets. However, they need to contact their personal account manager after setting up a trading account, to establish the minimum amount of cryptocurrency assets that can be deposited with CryptoFMC.
Alternatively, customers can opt for Visa, Mastercard, Maestro or Carte Bleue credit/debit cards, bank wire transfer or the PayPal electronic payment method. Notably, when depositing with a credit card, the minimum amount is $100 per transaction and by bank wire transfer the minimum is $500.
We were pleased to see that CryptoFMC does not set a minimum for withdrawals, but it does charge a $25 commission on deposits and withdrawals made by bank wire transfer. Notably, CryptoFMC protects the transfer of sensitive data with secure HTTPS connections provided by Comodo CA Ltd and complies with the latest PCI DSS standards.
In compliance with anti-money laundering regulations and the company’s KYC policy, CryptoFMC asks customers to submit a copy of an official ID document and a utility bill showing the customer’s full address, to verify customers’ accounts. It’s worth noting that failure to provide this information results in customers withdrawal requests being denied.
CryptoFMC is an unlicensed investment firm offering very little information about itself on its website. We found the lack of company information suspicious, especially as neither a registered company name or address is provided for the owners of CryptoFMC. After searching numerous sources for information about the company, we tried phoning the UK phone number given for customer support. However, after numerous attempts, we could not make contact with the support team at CryptoFMC, so we cannot recommend them to our readers.
In fact, we suggest that you don’t waste your time with CryptoFMC, but choose the simpler way to trade, by signing up with FXMasterBot, the top-rated auto trading software for easy Forex trading.
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