Welcome to our Crava Review in which we investigate the website currently found at crava.trade.
About a week ago, on February 15, 2023, a complaint was posted on the BBB (Better Business Bureau) by a central Ohio, USA person who claims being scammed for $13,000 on crava.trade:
The victim met a scammer on TikTok who posed as a famous crypto trader and became their account manager. They invested in crypto and made a profit, but when they tried to withdraw their earnings, they were told they had to pay additional fees before they could get their money.
They borrowed money to pay the fees, but they never received their money. The scammer then told them they needed to buy IBCP for $1,900 before they could receive their funds. They borrowed more money to pay for IBCP, but the money never came. Instead, they received a fraudulent check that caused their bank account to be frozen, resulting in them being unable to pay bills.
The scammer’s email address was reported as tellus@crava.trade and their physical address as Flushing, NY, USA 11374.
So is Crava.trade indeed a SCAM?
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Crava Review
The domain crava.trade was registered on May 22, 2022 for one year through NameCheap, Inc.. It is protected by Cloudflare.
While it has been around for almost a year, it has not managed to accrue any significant volume of visitors, authority, or backlinks from other websites, which is a significant red flag.
Crava is an online trading platform for stocks, forex, options, crypto, and CFDs, with 20% commission on stocks and ETFs. It offers a practice account and a program called AM Trading™ for beginners.
Crava claims to be regulated by FCA and CySec, however no proof is supplied and to be swift, reliable, and privacy-focused.
The website displays positive feedback from clients, and offers 24/7 support through live chat and email.
Crava warns of the high risk associated with trading and advises users to carefully consider their objectives, financial situation, and level of experience.
Based on their About page, Crava is a preferred broker for thousands of traders worldwide because of its optimal trading conditions, institutional-grade liquidity, ultra-fast execution, and dedicated client support.
Crava partners with top investment banks and dark pool liquidity execution venues to provide the best possible trading conditions with the tightest spreads and best pricing.
The company uses Straight Through Processing (STP) to ensure each trade is completed directly, and clients always receive the best possible pricing.
Crava provides 24/7 support through multiple channels, including live chat, email, and phone.
The company offers over 100 instruments, including digital assets, and various funding methods.
The About page does not provide information about who is behind the company (LinkedIn profiles etc.), however an address is provided:
UK Address: Irvington, Carlisle CA6 4NW, United Kingdom
US Address: 9030 Metropolitan Ave, Queens, NY 11374, United States
Moreover, the copyright line is: “Copyright 2019 All Rights Reserved. Crava Ltd, 8 Copthall, Roseau Valley 00152, The Commonwealth of Dominica.”
However, the UK address appears to belong to the Carlisle Lake District Airport, according to Google Maps.
And the US address houses a Trader Joe’s, Michaels, Staples, and a UPS Access Point location. Also, according to Google Maps, there’s a business called “SwiftinvestFX” at this address.
And the third address, according to Google Maps, seems to be the address of a university or a hotel.
So basically, not only do they not provide a location for their company, but the addresses they provide are not really theirs.
Their phone number is (204) 410-8123. (Area code 204 serves the Canadian province of Manitoba.)
Crava Reviews
Unfortunately, we could find no mention of this website online, not even a single review.
However, when we look for other website that contains the same text as the Crava website, we discover some additional related sites, including:
- cyberbyte.live (defunct)
- vandafx.com
- astallax.com
- avada.trade (defunct)
- smartxcoin.com
- cavafx.com (defunct)
- nfglobal.pro
- profitasian.com
- fxcloud.trade
- cryptchartfx.com
- fxcloud.trade
- pureforexcrypto.com
- panteracryptrade.com
All of these websites, and others we did not list here, have the same title “Online Forex ECN/STP Broker With 24/7 Support,” indicating they were most likely created by the same scammer or group of fraudsters.
And some of these websites were reviewed. For example, pureforexcrypto.com, according to TrustPilot, has 2.7 stars out of 5 based on 4 reviews. Some users claim that the company hacks Instagram accounts to promote their website and others accuse them of being fraudulent and stealing money.
By the way, remember SwiftinvestFX from the US address of Crava? Not only does it have the same title, but it is also a Crava clone.
Bottom Line
Our investigation reveals that the site has not managed to accrue any significant volume of visitors, authority, or backlinks from other websites.
Additionally, it provides false information about its regulatory status, uses fake addresses, and has been linked to a network of fraudulent trading sites.
All of these factors lead us to conclude that Crava Trade is a scam.
Update (March 30, 2023): A BBB complaint was posted on March 17, 2023. The scammer, who goes by the name Virtualbac.n or Virtualbacon, contacted the victim and asked them to buy bitcoin and transfer it to the crava.trade wallet. The victim lost $100.
Update (April 3, 2023): Two separate individuals were targeted in a cryptocurrency scam through Instagram by someone who goes by the name Coach JV. The first victim invested $500 and was asked to invest more to reach $1,000, but refused when they were told it was needed to upgrade their trading account.
The second victim invested $5,500 and was told they needed to upgrade their account to withdraw their earnings and pay a fee which couldn’t be taken from the profits. Both victims were unable to retrieve their funds. The scam was conducted through crava.trade.
If you have lost a significant amount of money to online scams, such as the Crava scam, do not lose hope. We can help you recover your funds!
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