Welcome to Crystal Global Trading Review, where we investigate the website currently found at crystalglobaltrading.com.
Did Crystal Global Trading scam you? Please let us know by commenting below this review.
Recently, one of our partners told us the story of a Yemeni person who reported being scammed for $1300. They wrote:
I fell victim to a scam by an individual using the profile name coach_emmy_donny. They convinced me to purchase cryptocurrencies and invest by sending money to their transfer address.
After the transfer, they instructed me to create an account on https://crystalglobaltrading.com/index/Auth.php, where I could monitor my trading activities.
Initially, the investment appeared to generate a profit of $8000. However, when I attempted to withdraw the funds, they requested a withdrawal fee of $1200 for the withdrawal pin, which I refused to pay. Unfortunately, I have lost my hard-earned money.
So is Crystal Global Trading found at crystalglobaltrading.com a SCAM?
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The domain CrystalGlobalTrading.com was registered on February 1, 2022. It is currently set to expire in 2024. The Whois Privacy Protection Foundation protects the website and is hosted by Hostinger International Limited.
CrystalGlobalTrading is a cryptocurrency trading platform that allows users to actively trade some of the most popular cryptocurrencies, such as Bitcoin, Ethereum, Ripple, and Litecoin.
The platform allows users to profit from market fluctuations, whether prices increase or decrease. They offer 100x leverage on trades, significantly amplifying potential profits and losses. Leveraged trading means users can trade more cryptocurrency than they have in their accounts.
Get in touch with our affiliated Bitcoin Forensic Investigators at CNC Intelligence for free by filling out the form below.
Crystal Global Trading – Homepage
Based on the homepage at crystalglobaltrading.com, Crystal Global Trading is a trading platform offering over 30 assets to its users, including Bitcoin, Ethereum, S&P 500, Gold, and EUR/USD. The platform allows traders to access cryptocurrencies, stock indices, commodities, and forex using a single Bitcoin-based platform.
Crystalglobaltrading provides 100x leverage on numerous instruments, including Bitcoin, Ethereum, Litecoin, Ripple, EOS, etc. They also offer significant leverage on non-crypto assets such as EUR/USD (1000X), S&P 500 (100X), Gold (500X), Crude Oil (100X), and the Japan index (100X).
Crystalglobaltrading offers several plans with varying benefits:
- Starter: For a $300-$1,499 investment, users can get up to 2.5% daily profit, regular promotional email alerts, reliable customer support, and entitlement to regular webinars.
- Platinum: For a $1,500-$4,499 investment, users get up to 5% daily profit and one month of free trading signals, among other benefits.
- Bronze: For a $4,500-$9,999 investment, users get up to 7% daily profit and one month of free trading signals, among other benefits.
- Gold: For a $10,000-$14,999 investment, users get up to 10% daily profit and three months of free trading signals, among other benefits.
- Diamond: For a $15,000-$100,000 investment, users get up to 15% daily profit and one year of free trading signals, among other benefits.
The platform promotes trading with 1:100 leverage, allowing users to increase their cryptocurrency profits using leverage (margin). Every $1 provides $100 of buying (or selling) power, providing exposure to a much larger position than with a standard exchange.
Crystal Global Trading Security
CrystalGlobalTrading claims to take substantial measures to maintain the security of its platform and protect its users’ assets. This is achieved through an extensive cybersecurity framework, and routine stress tests and security audits are conducted to ensure compliance with strict security standards.
The platform employs various security tools and measures, including Cloudflare, to mitigate potential distributed denial-of-service (DDoS) attacks. However, our checks reveal that they are not using Cloudflare but are using Hostinger nameservers.
The platform’s environment is allegedly hosted on Amazon Web Services (AWS), which has a strong track record for physical security and internal controls. We could not verify this claim either; CrystalGlobalTrading appears to be hosted by Hostinger.
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Partners – Crystal Global Trading Affiliate Program
The platform offers an affiliate program where users can earn up to 20% of their referred users’ trading fees. They’ve already garnered over 3,500 affiliate partners, which we highly doubt due to the low popularity of this website and lack of mentions of it online, as we shall see below.
The program offers guidance on how to grow one’s referral network, suggesting actions such as sharing referral links on social media platforms, creating YouTube reviews of CrystalGlobalTrading, blogging about the benefits of trading on the platform, and participating in relevant trading discussions while promoting one’s referral link.
However, no YouTube videos or articles about Crystal Global Trading can be found online.
Crystal Global Trading Fees
The platform also boasts competitive trading conditions, with low fees that help traders save on transaction costs.
Crystalglobaltrading provides its users with competitive and transparent pricing and trading conditions. They offer volume-based fees that may reduce as a trader’s activity increases, making pricing attractive for high-volume traders.
About Crystal Global Trading
According to their About Us page, CrystalGlobalTrading is a Bitcoin-based platform specializing in leveraged trading of several digital assets, including Bitcoin, Ethereum, Litecoin, and Ripple.
Founded in 2010, the platform has grown exponentially and serves clients in over 150 countries.
However, as we have seen, the website has only been around since 2022.
Their copyright line reads “© 2021 Crystalglobaltrading.com,” even though it’s already 2023.
CrystalGlobalTrading’s services are connected to and provided by two entities, namely CrystalGlobalTrading Trading Services Ltd, a Seychelles-registered company with the number 206865DE3, and Prime Technologies Ltd., a company registered in Saint Vincent and the Grenadines, also with the number 206865DE3.
We must say it’s a curious coincidence that both companies have the same number…
Crystal Global Trading Contact Information
The CrystalGlobalTrading team claims to provide 24/7 customer service.
Crystalglobaltrading is located at 20 Cooper Square, New York, NY 10003, USA.
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Crystal Global Trading – Red Flags
Know Your Customer (KYC)
Crystalglobaltrading claims to emphasize user privacy highly, with no personal information required to start trading. This eliminates lengthy Know Your Customer (KYC) verifications, enabling users to start trading in minutes.
The claim by Crystalglobaltrading to place a high emphasis on user privacy and not require any Know Your Customer (KYC) verification is a red flag for several reasons:
- Regulatory requirements: Financial institutions, including online trading platforms, are generally required by law to perform KYC checks. These checks help prevent identity theft, fraud, money laundering, and the financing of terrorism. A platform that does not perform KYC checks may operate outside these laws, which can put users at risk.
- Account recovery: Without proper KYC procedures, it may be difficult for users to recover their accounts if they lose access to it, as there may not be enough information to verify their identity.
- Account Security: If a platform does not verify the identities of its users, it can be easier for malicious actors to create accounts with stolen information. These actors can then potentially commit fraud or other illegal activities.
- Responsibility and transparency: By not requiring KYC verifications, a platform can evade the responsibility of maintaining a secure and transparent trading environment. This lack of transparency can indicate poor corporate governance and raises questions about the platform’s reliability and integrity.
- Potential for misuse: A platform that doesn’t require KYC could be used for illegal activities such as money laundering. The platform might be shut down if such activities were detected, putting legitimate users’ funds at risk.
Another red flag is the emphasis on leverage, which can be a double-edged sword in online trading. While it can increase potential profits, it also amplifies the risk of losses. Here are some of the dangers associated with the use of leverage in trading:
- Amplified losses: Leverage allows you to control a larger position with less capital. If a trade goes against you, the loss is proportional to the leverage used. For instance, if you use a leverage of 10:1 and the asset you invested in declines by 10%, you would lose 100% of your investment.
- Margin call risk: If your investment loses value, you may get a margin call from the broker, asking you to deposit more money to maintain your position. If you cannot meet the margin call, the broker can close your positions, potentially resulting in substantial losses.
- Overtrading: The use of leverage can encourage overtrading. Because only a small amount of capital is required to open a leveraged position, traders may be tempted to open more than they would without leverage. This can lead to poor decision-making and increased risk.
- Interest charges: Leveraged positions often involve borrowing costs or interest charges that accrue over time. These costs can erode profits or increase losses.
- Volatility risks: High leverage levels might not be suitable for highly volatile markets (such as cryptocurrencies). Rapid market fluctuations can lead to substantial losses.
- Risk of account liquidation: If losses exceed the amount of capital in your account, your account could be liquidated, meaning you could lose your entire investment.
Other Red Flags
Additionally, the business model and investment plan descriptions of Crystal Global Trading have several characteristics that can be cause for concern:
- Guaranteed daily profits: Financial markets are volatile and unpredictable. Any firm promising guaranteed returns, especially high daily profits like 2.5% to 15%, raises a red flag. In a legitimate investment, returns can never be guaranteed.
- Large ranges in investment tiers: The gap between the minimum and maximum investment in the ‘Diamond’ tier is very wide ($15,000 – $100,000). This can be a concern as it may indicate the company is attempting to encourage individuals to invest as much money as possible without a clear basis for the different return rates.
- Free trading signals: While offering trading signals is not inherently problematic, when bundled with the promise of high daily returns, it might be used to lure investors into a false sense of security.
Remember, if something seems too good to be true, it often is. High returns usually come with high risks, and guaranteed profits in the world of investments are almost always a red flag.
Crystal Global Trading Reviews
As of May 30, 2023, no Crystal Global Trading reviews can be found online.
If you have experience with them, please share it with us by commenting below.
While we could not find any mention of CrystalGlobalTrading Trading Services Ltd online, and while Prime Technologies Ltd. does not seem to have anything to do with them since it’s a construction machine dealer from Sofia, Bulgaria, what we did find was mentions of “206865DE3.”
This is the “registration code” of these two fake LTDs, and it is used on several other websites, including:
- regcooplimited.org/home/terms – “This website services are related to and provided by Regcoop limited nr. 206865DE3.”
- Several fake investment site clones:
- apextrustinvestmentsinc.com – “This website services are related to and provided by Apex Trust Investment Trading Services Ltd (Seychelles company nr. 206865DE3) and Prime Technologies Ltd. (Saint Vincent and the Grenadines company nr. 206865DE3).”
- bittrademassivefx.com – Another fake investment site
We also discovered that this fake registration number was used in past scams, which are no longer online, such as FXLegalTrade.com, by which, back in 2021, a user reported having been scammed for $100. Despite suspecting it might be a scam, they went through the process to understand it better. They noticed that every forex trader seemed to be reading off the same script and also had suspicions due to the way the traders texted, suggesting they were foreigners.
After the user’s initial investment, the scammers manipulated the website to make it seem like they had earned a significant profit from the trades. They then told the user to upgrade their package to be able to withdraw the money, asking for more money in the process. This confirmed the user’s suspicions that it was a scam, as it didn’t make sense to ask for more money if the user had supposedly earned $2700 from an initial investment of $100.
The user also mentioned being friend requested over 30 times by what they believe to be the same person operating different accounts. They advise others to report and block any such friend requests on social media to avoid falling victim to similar scams.
Given the information obtained through the review process, it is advisable to approach Crystal Global Trading cautiously, or rather not approach them at all! While it is true that any investment contains a certain amount of risk, several red flags were identified about this platform.
The lack of Know Your Customer (KYC) verifications raises essential questions about regulatory compliance and account security. The heavy emphasis on high-risk leveraged trading without a transparent and open discussion of associated risks can lead inexperienced investors into dangerous territory. Furthermore, their promises of guaranteed daily profits are highly unusual, as legitimate investments cannot offer such assurances.
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The inconsistencies in the details provided about the platform, such as the conflicting dates of establishment and the discrepancy between the claimed and actual host servers, cast further doubt on the platform’s reliability. Moreover, reusing the same registration code (206865DE3) on several other suspicious websites further compounds the concerns.
If you are a victim of Crystal Global Trading, please let us know by commenting below, and if you have lost a significant amount of money to online scams, do not lose hope. We can help you recover your funds!