Crypto Daily Trade Review: You Should Not Trust This Broker

Crypto Daily Trade is a highly suspicious broker. Of course, it is not the first and not the last such company these days. Offshore brokers are truly a dime a dozen and here to stay.

Unfortunately, this means you need to be extremely careful about who you actually trade with. And the one we are covering in our broker review, Crypto Daily Trade, is just another investment scam as well. So, let’s dig into this Crypto Daily Trade review and shine some light into the shady tactics they use.

Crypto Daily Trade License and Funds Security

Crypto Daily Trade broke claims to be based in California, USA,  but did not mention anything about being licensed. Very few brokers are still operating in the US because the requirements for forex brokers are probably stricter there than anywhere else in the world.

For example, local brokers have to maintain a minimum capital of $20 million and release a ton of transaction data to clients to ensure transparency. They also have to be regulated by not one but two stern authorities, which are the NFA and the CFTC. Crypto Daily Trade was, of course, not licensed and a quick register check proved that.

So, it’s best to just stay away from them since there is no security provided for your or your funds whatsoever. Make sure to work with a regulated and licensed broker.

Trading Platform Available at Crypto Daily Trade

Crypto Daily Trade, just like any other scam brokers out there, claims that they provide access to the industry standard Metatrader 5. Of course, this is untrue, because the firm does not have CFD trading available. Instead, it offers some kind of investment plans.

There are a lot of scam brokers which offer otherwise good software. Most of the time, however, they will manipulate it. That way, it can seem as though your funds are being traded as instructed. In reality however, the money will be lining the scammers’ pockets.

Crypto Daily Trade Account Types

In regards to the account types offered by Crypto Daily Trade, unfortunately, this broker has not shared the account types that they have. This is a big lapse as this information forms the basis for deciding whether to join or not.

This broker has just provided a demo account that anyone can open and learn how to trade.

Failure to disclose many details like minimum investment amount, spreads, and leverage among others makes us question the transparency of this broker. Transparency is very important considering that we are in the financial investment space.

Deposit/Withdrawal Options

Crypto Daily Trade com only accepts deposits in Bitcoin and Tether. The broker mentions that it does not charge any fees but warns you that blockchain fees apply. And it’s not a surprise that they, just like many similar fraudulent brokers, offer only crypto as their form of funding methods.

This means that you would not be able to track your payment to a specific person or organization or ask for a chargeback. Only use this payment method if you are completely sure you can trust the broker.

How the Scam Is Implemented

A lot of fraudulent brokers have very shady tactics when it comes to stealing your money and Crypto Daily Trade doesn’t fall behind.

This scam broker uses manipulative trading software to make it seem that you are making a lot of profit fast but that is all just to get you to invest more. In case you don’t want to invest more money, they will start with their pushy tactic saying that if you don’t invest more, you will lose all of your current profits.

And like any similar trading scam, they prey on personal information people left online, and once they get it, they will harass you daily.

Crypto Daily Trade Summary

In this Crypto Daily Trade broker review, we tried to get you familiar with this anonymous unregulated broker that is trying to look as legit as possible. Not only are they an unlicensed broker, but they also falsely claim to be.

Overall, it’s best to just stay away from this fraudulent broker or any other alike. Make sure to always read the reviews before investing.

Lastly, if you have ever fallen victim to this or a similar scam we encourage you to reach out to us as we can help you.

FAQs About Crypto Daily Trade Broker