The saying, “Do not judge a book by it’s cover”, or in this case, a website by it’s homepage definitely does not apply here. Without even looking around, what we met on the homepage of 28crypto.com was not at all to our satisfaction. And our tour of the website didn’t serve to make that better.
In order to make real profits in forex, one of the most important things is to trade with the right forex brokers. Our job here is to review these websites that claim to all be top notch, then help you tell legit from deceit. The following review will tell you all you need to know about 28Crypto broker.
About 28Crypto Forex Brokers
According to 28crypto.com, “28Crypto is a digital asset trading platform that offers cutting edge services for digital currency traders and liquidity providers. Founded in 2018 by a team of experienced developers and crypto enthusiasts”. They claim to the fastest response times and a robust amount of assets to trade on, even though theses assets aren’t explicitly stated. That is, aside the 20,000 crypto pairs they say they trade on.
Some other things omitted by the website are the leverage and the spread they offer. The language of the website is solely English and a section of their terms and conditions suggests they are located in Hungary. Nowhere else within the website do they offer any other contact or address info
Why You Should Steer Clear of 28crypto.com
Besides the obvious reason of the unprofessional appearance of the website, here are other reasons 28crypto might not be worth your time.
Deposit and Withdrawal
28Crypto offers three modes for cash deposit. They are; Debit and credit cards, Bank wire or Bitcoin. The weird thing here is that these three modes of payment have different minimum deposit amounts. For Debit and Credit cards, it’s $500, for bank wire, it’s $1000 and for Bitcoin, it’s 0.01BTC, which is around $116.
Now between these three, the Bank wire and card prices are simply outrageous. Legit brokers charge around $100 as their minimum deposit amount. The closest to that is the Bitcoin, right? But don’t get excited yet. Aren’t bitcoin transactions untraceable? Paying in BTC means you can’t request for a reverse transaction. And isn’t it just convenient that BTC is by far the cheapest payment method.
We can’t help but see this as a trap and a huge red flag. I mean, who requests different amounts for different payment methods anyway? Definitely not legit brokers.
Withdrawal, according to terms and conditions provided by the website, take up to 7 working days to process. This is 6 more days than it should take any legit broker. They also pass a term that frees them of any financial damage you might experience while trading with them. So much for client security.
No mention was made on the site about the name of the trading platform. Although a few pictures on the site and a “Get it on Google Play” written there suggests it runs across mobile, desktop and web. They claim to trade 24/7 with no downtime and to have at least 50 trading tools.
All of this, however, is just ambiguous words. And words are wind. The truth remains that 28crypto.com made not mention of any trading platform whatsoever.
Licensing and Regulation
The most important information to us, as usual, when checking any broker is usually their license information. As earlier stated, the terms and conditions provided by 28crypto.com points their location to Hungary. In the absence of any other mention of an address, we decided to check in with the Hungarian Financial Supervisory Authority.
We weren’t at all surprised to find 28Crypto missing from the HFSA’s registry. In plain terms, 28Crypto is unlicensed, hence an illegal broker.
28Crypto Review Conclusion: Is 28crypto.com Legit?
No. Besides not being\ licensed, 28crypto has too many shady spots for us to trust them. That said, we cannot recommend an unlicensed broker with this many inconsistencies to our readers. We urge you, however, to find and trade with licensed brokers who are reputable in the field.
Our Recommendation For You
You can make money online by trading with reputable, reliable and trustworthy brokers. We’ve been trading with the Fortrade broker below for sometime now and we have no regrets!
FORTRADE- One of the Top rated brokers and a good choice for new traders. This broker is Licensed in UK(FCA), Australia(ASIC) and Belarus(NBRB). Guess what? you can trade from any part of the world as it accepts Traders Worldwide. Interested in trading with one of the best Forex brokers? Head Over to Fortrade and start trading!