About FxcryptoMarket
Company Overview
FxcryptoMarket is a trading platform registered in the United States, established on 23 October 2020. The company lists its registered address at 887 Traction Street, New York, 10003. It operates under the domain fxcryptomarket.live.
Despite being registered in the US, the firm holds no regulatory licences from any known financial authority. This lack of oversight is a significant factor for traders to consider, as it means there is no external body monitoring the firm's adherence to financial standards.
Account Types and Minimum Deposits
The broker offers three distinct account plans: Binary Trading, Crypto Investment, and Mining Plan. Each account type requires a minimum deposit of $250. None of these accounts specify a maximum leverage, suggesting they may not offer the typical leveraged trading found in forex or CFD brokerage.
The Binary Trading account likely involves predicting price movements of assets with fixed payout structures, while the Crypto Investment account focuses on cryptocurrency holdings. The Mining Plan suggests participation in cryptocurrency mining operations, which is a capital-intensive activity.
Regulatory Status
FXCanary's review confirms that FxcryptoMarket is not regulated by any major financial authority, including the US Securities and Exchange Commission (SEC) or the Commodity Futures Trading Commission (CFTC), despite being based in the United States. This absence of regulation exposes clients to potential risks, such as lack of investor protection, no recourse for dispute resolution, and no assurance of segregated client funds.
Traders are strongly advised to exercise caution when dealing with unregulated entities. The firm's risk score of 45 out of 100, labelled 'Guarded', reflects these concerns.
Trading Instruments and Platforms
No specific trading instruments are listed in the available records, nor is there any mention of a proprietary or third-party trading platform. The lack of transparent information about tradable assets and software makes it difficult to assess the broker's offerings.
It is unclear whether the broker provides access to forex pairs, commodities, indices, or individual stocks. Clients interested in the Crypto Investment account should verify which cryptocurrencies are supported and whether the platform offers wallet services or exchange functionalities.
Funding Methods
Information regarding deposit and withdrawal methods is not provided in the official records or the website. Typical funding methods for online trading platforms include bank transfers, credit/debit cards, and e-wallets, but these have not been confirmed for FxcryptoMarket.
Given the minimum deposit of $250, traders should ensure they understand the exact process for adding and withdrawing funds before committing capital. Without clear disclosure, there is a risk of hidden fees or delays.
Target Audience
FxcryptoMarket appears to target retail investors interested in binary options, cryptocurrency investment, and mining. The low minimum deposit may attract beginners, but the unregulated status and lack of transparency make it unsuitable for risk-averse traders.
Experienced traders seeking regulated forex or CFD brokerage services would likely find FxcryptoMarket's offerings insufficient, particularly due to the absence of leverage and standard trading instruments.
Overview compiled by FXCanary from regulatory records and public data. full FxcryptoMarket review