Cryptonix Team Review (2023)

• Company name: 

Sveti George 2016. TheCryptonixTeam

• Registration Address/ License:

Bulgaria. UK. Offshore License, No Regulation. 

TheCryptonixTeam claims that the company was founded in June of 2012, while the firm is a digital currency wallet and platform where merchants and consumers can transact with new digital currencies like bitcoin, ethereum, and litecoin. The broker offers to trade on 45+ most popular exchanges from a single account while the broker is based in UK, London. However, Thecryptonixteam mentions also its ownership and operation by Sveti George 2016 Registered at Sofia Bulgaria.

Actually, this is quite confusing, as the company gives uncertain condition to its address and therefore legitimate status. Obviously, that means that the broker is not regulated, nor authorized to deliver its service within the EU. The most crucial factor with non-regulated entities is that the company does not fall under the oversight, while the funds can be managed in any possible manner. That means that investment with non-licensed brokers like TheCryptonixTeam can be very risky while there is no any assurance for the safety of funds.

Besides, the regulatory authorities that constantly monitor and regulate forex brokers issues warning against those who considered being a risky business and warning client to not engage with potential frauds. Before signing up with the broker check on its legal information, licenses and compliance with international law and then choose the best suitable for your particular needs.

In conclusion, of course, we advise avoiding TheCryptonixTeam and similar offerings and instead to check out the trusted lists of brokers. This list of trusted brokers includes reputable ASIC Regulated brokers, FCA Regulated Brokers or similar providers that significantly lowers the risks and fall under compensation in case of the company insolvency.