About Cryptoopttrade
Overview
Cryptoopttrade, legally registered as P24O Limited, is a UK-based entity that presents itself as an investment services provider with connections to Malta. According to our records, the company was founded on 10 November 2022 and lists its registered address in Nottingham, United Kingdom. The official domain is crypoptt.com.
Our records indicate that Cryptoopttrade claims to offer over 70 trading instruments, including forex pairs, indices, and stocks, and supports trading on the MetaTrader 5 platform with a maximum leverage of 1:100. However, we note that the company description also states that Cryptoopttrade is not regulated by any legal institution, which is a significant point for potential traders to consider.
Regulation and Licensing
The regulatory picture for Cryptoopttrade is complex. Our files list a licence from the Malta Financial Services Authority (MFSA) with licence number C 56519, categorised as Market Making (MM). However, the status of this licence is not specified in our records, and the company description explicitly states that Cryptoopttrade is not regulated by any legal institution.
We cross-checked the licence details against the public register, but due to the conflicting information, we advise traders to verify the current status of any licence directly with the MFSA. The presence of a licence number does not necessarily mean the entity is actively regulated, and the company's own disclaimer suggests otherwise.
Trading Platform and Instruments
Cryptoopttrade states that it offers trading on the MetaTrader 5 (MT5) platform, a widely used platform in the retail trading industry. The company claims to provide access to over 70 trading instruments, spanning forex pairs, indices, and stocks. This range is typical for a retail CFD broker, though the actual availability and conditions are not independently verified.
Our records do not include specific details on spreads, commissions, or minimum deposit requirements. Traders should be cautious, as the lack of transparent information is a common characteristic of low-information or potentially unregulated brokers.
Company Background
The company, P24O Limited, was incorporated in the United Kingdom on 10 November 2022. The registered address is listed as 31 Beeston Road, Nottingham, in the United States—an apparent inconsistency that we have noted in our records. This discrepancy, along with the Maltese licence and the UK registration, adds to the overall uncertainty surrounding the broker's operations.
Our records also indicate that the company has zero employees, which is unusual for a functioning brokerage. This could suggest that the entity is a shell or that the information is incomplete. We recommend that traders exercise due diligence before engaging with Cryptoopttrade.
Risk Considerations
FXCanary's Scam Risk Score for Cryptoopttrade is 43 out of 100, which we classify as 'Guarded'. This score is based on two risk flags: withdrawal complaints in approximately 200% of recent reviews, and no verifiable website or social-media presence. The withdrawal complaint ratio is particularly concerning, as it suggests that a significant number of clients have faced difficulties in retrieving their funds.
The absence of a verifiable online presence, despite the official domain, is another red flag. In our experience, legitimate brokers typically have a traceable digital footprint, including active social media accounts and third-party reviews. The combination of these factors, along with the regulatory ambiguity, leads us to advise caution.
Overview compiled by FXCanary from regulatory records and public data. full Cryptoopttrade review