Avoid Crypto Rocket, an Unregulated FX Broker.

If you want to make money on the Forex market, trading with Crypto Rocket is not advised. This broker is unregulated, has had numerous negative evaluations, and has even received a warning. We'll explain what Crypto Rocket looks like in real life in this section.

Not regulated, but cautioned

On its page, scammer Crypto Rocket merely provides a Saint Vincent and the Grenadines address without mentioning any regulatory information. We thus performed a company name search with the S.t. Vincent and the Grenadines Financial Services Authority (SVG FSA) using the company name CryptoRocket Limited and discovered that it was an SVG-registered business. But a well-known offshore registration is the SVG FSA. It doesn't control forex transactions or grant forex licenses. Registration therefore does not entail regulation.

More crucially, the Comisión Nacional del Mercado de Valores in Spain has issued a warning about the scam (CNMV).

Dangerous Leverage

Because most regulators place severe leverage limitations on brokers in accordance with national regulations, Crypto Rocket's assertion that it can offer high leverage of up to 1:500 is another way of suggesting that scammers are not subject to top authorities' oversight. The maximum leverage a broker subject to FCA regulation may provide is 1:30. As high-risk leverage like 1:500 carries the potential to cause investors to lose all of their money overnight, this serves to safeguard their interests.

Withdrawing Quickly？

One of the conditions that have always caused traders the most anxiety is withdrawal speed. Crypto Rocket withdrawals are allegedly “lightning fast,” according to the con artist. Customer feedback suggests that isn't the case, though.

It is advised to use caution when dealing with Crypto Rocket.

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