CryptoBanxaTrade is not a licensed or regulated broker even though it states offers that look good to be true. CryptoBanxaTrade claims to be located in the UK. As per the United Kingdom law, all firms and individuals offering, promoting, or selling financial services or products in the UK have to be authorized or registered by the UK Financial Conduct Authority (FCA). However, we did not find any match results to CryptoBanxaTrade in FCA.
CryptoBanxaTrade also claims to be regulated by the Belize Financial Services Commission (Belize FSC) and Cyprus Securities and Exchange Commission (CySEC). But we did not find any matching results in Belize FSC.
Moreover, we found a warning against CryptoBanxaTrade issued by CySEC. The Cyprus regulator warned the public that CryptoBanxaTrade does not belong to an entity that has been granted authorization for the provision of investment services. You can check the full warning from here.
The truth is, CryptoBanxaTrade is not overseen by any regulators. That means your personal data or your funds in this broker are unsafe and cannot be protected by any law. We would recommend traders stay away from unregulated brokers like CryptoBanxaTrade and trade with licensed brokers.
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