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Crypto Invest Home Review – 5 things you should know about Cryptoinvesthome.biz
Beware! Crypto Invest Home is an offshore broker! Your investment may be at risk.
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Crypto Invest Home is a Forex brokerage presumably registered in Estonia. It provides a web-based trading platform, not the MT4 trading terminal and clients are extended a generous but balanced leverage of 1:200. Furthermore, there is wide range of trading products from which to choose but the spread on EUR/USD is 3.3 pips which is quite high and unfavorable for traders. There is a required minimum deposit of $250 which is standard for the industry.
Crypto Invest Home regulation & safety of funds
According to the website the company behind the brokerage is registered in Estonia by the name Tsattleia Trade OU, however, in the terms and conditions of the brokerage we come across another company name Grau International OU. Such a lack of clarity in the corporate information of a brokerage is more often than not a sign of trouble. Estonia is a member-state of the EU and has diligently included online Forex trading within its regulatory framework. However, after checking with the online registry, we can safely conclude it does not hold a license by Finantsinspektsioon. As a matter of fact we know of only one Forex brokerage that holds a license from the country’s financial regulator – Admiral Markets.
The latter company owns and operates a broker brand by the name EasyTrade which was blacklisted, along with over 40 unregulated brokerages, by the Financial Supervision Commission of Bulgaria. According to the Bulgarian authorities EasyTrade was providing financial services to Bulgarian clients without being authorized nor licensed to do so.
The brokerage does not provide clients with a demo account for the supposed trading platform which is a further sign of shady activities. We do read on the website that the spread is quite high at 3.3 pips on EUR/USD, especially compared to the industry average of a pip and a half.
The official warning issued by the government of Bulgaria, as well as the lack of regulation inclines us to believe that potential clients of the brokerage may be open to substantial risk.
We urge traders to exclude such risk in trading by only associating with brokers regulated by prestigious regulatory agencies, such as the FCA and CySec, which require compliance with a number of strict rules that give significant assurance for the security of the clients funds.
The segregation of accounts is among the rules which are especially important in the trading world, because it drastically lowers the risk of possible commingling.
Another is the participation in a compensatory scheme by which the client’s losses will be covered in the unlikely case the broker goes bankrupt or attempts to swindle traders.
Crypto Invest Home Investments deposit/withdrawal methods and fees
Potential clients of the brokerage may deposit or withdraw via Visa, MasterCard, wire transfer, Neteller, Skrill, WebMoney, QIWI Wallet, Yandex Money, AstroPay and Paysafe Card. In the terms and conditions of the brokerage we came across quite a few troubling provisions.
There is a very excessive minimum withdrawal amount of $100. Such a minimum withdrawal amount should not figure among the terms of a legitimate brokerage. Furthermore, there is a $30 withdrawal fee, which, again, is quite a lot for a simple withdrawal.We also come across a dormant account fee of $30 on inactive accounts. Here is a screenshot:
We advise traders stay away from the brokerage and to always be diligent and put up only the required minimum deposit, instead of risking a bigger amount with no certainty. Afterwards, they may also try to withdraw a small amount in order to check for any unexpected fees or delays. Such fees and delays are usually the signs of a scammer.
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How does the scam work?
Information is a pretty solid criteria for judging a brokers legitimacy. Scammers would not share much of their information, because precisely there inconsistencies and irregularities may appear which expose the whole set-up. A good example is this very broker and the misleading information it gave regarding its regulatory status.
After informing themselves for the brokers trading conditions – traders should be well-versed in the way of the scam:
Through clicking an ad with promises for fast money, you will be redirected to a website such as Bitcoin Evolution or Crypto Revolt where registration will require you to give your email and phone number. After sharing your personal information, you will being receiving calls from brokers, compelling you to invest with them and win big. After a few minutes hearing their pitches, you decide to deposit some $200-250. And just like that – the scammers take a fat commission from this initial deposit.
After they are done with you, senior scammers begin working you into putting even more money. They say it’s the only way to profit from trading even more. After making the mistake of investing even further, you’ll begin wanting to get out of this and withdraw what you have left.
Unfortunately, the con-artists have no such thing in mind. They will now begin persuading you to wait it out and not withdraw right now. The motive here is quite straightforward – traders have a limited time window for filing a chargeback with their bank and get their money back. The “recovery department” will simply want to mislead you into missing this crucial period and, along the way, losing any chance you might have of getting the money back.
What to do when scammed?
As was mentioned above, scamming is quite the common in the trading world and, sadly, even you might suffer from it. In such an unfortunate case there still may be some available options for you.
You may contact your bank or credit card provider and file a chargeback. Furthermore, due to the high instances of fraud – both Visa and MasterCard have decided to sidestep scammers as best they can in forex trading. The first thing we have seen so far is that MasterCard has increased the previous time period of six months for filing a chargeback to a year and a half with their peer Visa expected to follow suit in December.
If, however, you have provided the broker with your credit card details, immediately cancel your credit card.
If you have given information regarding your online banking pass – you should switch it asap!
Beware of potential calls from self-described “recovery agencies”! They prey on scammed and vulnerable traders who are desperate to recover their losses. They will require an “up-front” payment to help you, but after paying them, no such help will be coming your way!
Crypto Facilities Review – Is cryptofacilities.com scam or safe cryptocurrency exchange?
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|Account type||Minimum deposit||Leverage||Maker Fee||Taker Fee|
* Trading conditions at this exchange are more specific due to the nature of the products available for trading. For more details check the full review.
Crypto Facilities is a platform for cryptocurrency futures trading. This makes them one of the options for miners, looking to hedge their exposure. The most well-known other similar platform is BitMEX.
Warning: Several other companies have used Crypto Facilities’ FCA registration number. As far as we know, their original website is the only one at which they operate. Here is proof of their disagreement and frustration with these scammers:
The company, security of funds
|CRYPTO FACILITIES LTD||UK||FCA|
Crypto Facilities is registered in the United Kingdom and more importantly overseen by the Financial Conduct Authority (FCA). This is very unusual as the British watchdog usually doesn’t look at companies dealing in the crypto-space. That being said, this is derivatives trading company, and the crypotocurrencies are only the underlying asset.
While the FCA oversees a lot of companies (like forex brokers) and enforces a lot of rules, there are a few specifics in regards to Crypto Facilities. You are probably familiar with the Financial Services Compensation Scheme (FSCS), especially if you have read some of our reviews on forex brokers. This is a mechanism, which guarantees client funds, in case their brokerage goes bankrupt. As point 3.2 of the Membership Agreement at Crypto Facilities states, the FSCS does not apply, as your account balance is kept in cryptocurrencies, which are not yet defined as either “money” nor a “Specified Investment”.
That being said, all of the client accounts are held in segregated cold-storage wallets, backed by Elliptic, an industry-leading crypto-security company. Additionally the blockchain settlement is insured by an “A-rated, Fortune 100 underwriter”. Given the fact the company is based in the UK, you probably have a pretty good idea of which insurer they are referring to, presuming you have any knowledge of that market.
With such major security claims, it probably wouldn’t surprise you to hear that Crypto Facilities has not been hacked yet. In general, this company appears to be much more secure than a lot of the traditional cryptocurrency exchanges.
Crypto Facilities partnered with the CME group in order to provide two Ethereum indices. They are the CME CF Ether-Dollar Reference Rate (Ether Reference Rate), which will provide a daily benchmark price in U.S. dollars at 4 pm London time, and the CME CF Ether-Dollar Real Time Index (Ether Real Time Index), which will allow users access to a real-time Ether price in U.S. dollars. Price data is gathered from two of the most reputable exchanges: Kraken and Bitstamp. Being connected with such an established derivatives trading institution, like the CME Group is a positive sign.
There aren’t that many user reviews on Crypto Facilities, which is understandable, given the relatively complicated nature of their offering. The few comments we found were all positive.
We feel the need to reiterate, trading on this venue is very different from other cryptocurrency exchanges. The company has even set-up a questionarie, which one must fill before being allowed to trade. This is done in order to protect unsophisticated enthusiasts from loosing their funds due to not understanding the nature of margin trading.
Account types (cash and margin)
Before we begin discussing the trading conditions at Crypto Facilities, we must mention the accounts are only kept in Bitcoin, Ethereum and Ripple. Additionally, before you begin trading, you must transfer coins (internally) between your main (cash) account and one of your margin accounts. The latter vary by trading instrument. While all of this seems very complicated, in reality it isn’t. Here is how the wallet interface looks:
Each of your secondary wallets serves as your trading balance for that particular futures contract. This provides a form of risk management, which is always appreciated.
Trading instruments (cryptocurrencies)
Crypto Facilities supports Bitcoin (with the newly agreed upon symbol XBT, instead of the more traditional BTC), Ethereum (ETH) and Ripple (XRP) futures trading.
The currently available crosses can be seen in the previous screenshot, where three coins are traded against the USD and there is an XRP:XBT pair.
In terms of maturity, contracts are weekly, monthly and quarterly (for some instruments).
The maximum leverage ratio offered by Crypto Facilities is 1:50 for Bitcoin to USD trading. The conditions vary for different instruments and are a bit more complicated than the ones offered by other companies. Here is a preview:
Be sure to fully understand the meaning of all the terms listed here before you start trading.
Margin netting, between long and short positions is available, presuming you trade from the same margin portfolio.
We must mention, that there are other derivatives based on digital assets. These are the spot CFDs, available at some forex brokers. While Bitcoin and Ethereum are the most popular, Litecoin is also occasionally being offered. While these CFDs are linked to the current price of the asset in question and not the future value, they do have some further specifics. You can read all about them here, if you are interested.
The fees at Crypto Facilities are charged in XBT, ETH and XRP, in accord with the specific contracts. Here are the details:
We have to compare these fees with ones charged by the major competitor offering a similar service. The taker fee at BitMEX is 0.075%, while market makers get a 0.025% rebate, which makes Crypto Facilities the cheaper trading venue.
While the above description of the trading conditions may appear complicated, here is a table, summarizing it all:
The trading platform at Crypto Facilities is web-based. While this shouldn’t come as a surprise to anyone familiar with cryptocurrencies, there is an argument to be made for desktop solutions. The platform was updated to feature charting by TradignView (which is a top-tier third party provider) and have an interface which is generally cleaner.
The order book is arranged in two columns, which traders versed in traditional markets will prefer to the single column approach, used by many exchanges.
Update: This section of the Crypto Facilities website is apparently taken down, but we will keep the following text.
The “analytics” section off the website offers some extra features.. Here is how the index charting looks (The overall index allows comparison to the quotes provided by Bitstamp, Bitfinex, BTC-E, Coinbase and ItBit.):
And here is a preview of the futures curves, which allow one to see if the market is in a contango or backwardatiwon:
Our opinion of the Crypto Facilities platform is neutral. While it offers some futures-specific elements, the main trading window is less than ideal. Additional tools will probably needed for serious trading.
Methods of payment
The only way of transferring funds in and out of Crypto Facilities is the blockchain. Once you register an account, you are given Bitcoin, Etherum and Ripple wallets, to facilitate your trading. As mentioned above the control to specify how much to put into each margin wallet and how much to leave as “cash” is a neat feature.
Crypto Facilities is a London-based cryptocurrency futures trading platform, overseen by the FCA. While the they do not participate in the FSCS, they still follow other major rulings. The company’s overall security appears to be much higher than what is currently offered by other exchanges. That being said, trading at Crypto Facilities is not for everybody. The mere concept of futures trading is somewhat more complicated than the ordinary crypto trading. Add the volatility of cryptocurrencies on top of that and you get a potentially explosive combination. More experienced traders, as well as miners looking to hedge their “virtual crops” may find this to be one of their best options. Here are the pros and cons of Crypto Facilities:
|FCA-regulated (FSCS doesn’t apply)||Complicated trading environment|
|Top-tier security features||Accounts held in crypto|
|Blockchain settlement insured||Only accepts blockchain transfers|
|Charts by TradingView|
FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.
Trading212 is a European broker with an excellent proprietary trading platform, which is now available as an iPhone app as well (we tried it out and we loved it). Trading 212’s customers enjoy fast execution a vast selection of trading instruments.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.
2020 In Crypto Review
As 2020 is about to take over and while everyone is counting yearly incomes, making ambitious plans for the upcoming year, there comes a perfect time to take a look back at the year that we had and review what happened to the cryptocurrencies market. ICO boom, Bitcoin mania, huge hype for blockchain, futures on Bitcoin launch, Asian regulations – let’s see which crypto events and trends 2020 brought us.
Events and Trends of the year
One of the most important trends of the year is, of course, massive growth of Bitcoin, as well as altcoins. In November the cryptomarket witnessed the unbelievable – the Bitcoin price reached a truly psychological mark of 10K. In less than a month it briefly grazed a 20K threshold, diving into a correction afterwards. A lot of people still perceive the cryptocurrency market as a bubble, but we won’t know it’s a bubble until it pops, would we? At least, it’s quite an expensive bubble. Even though Morgan Stanley analysts suggested that the real value of Bitcoin might be $0.
Bitcoin market cap is $320 billion, while the whole market capitalization hit $650 billion. This perfectly shows that from the very beginning Bitcoin has shown a 2000% growth. Market cap has outrun Facebook (NASDAQ: FB ) capitalization and is very close to the Microsoft Corporation (NASDAQ: MSFT )’s cap.
ICO market is booming and blooming. In December, the amount of money raised on ICO reached and surpassed the record-breaking $4 billion mark. During the three quarters of the year, at least one ICO per day was held.
On April 1st, Japan (and it’s no joke) allowed virtual currencies as a legal form of payment. Even in spite of Japanese Finance Minister saying that Bitcoin was yet to prove itself as a “credible currency”, the number of cryptocurrency exchanges was growing. Up until September, over a half of all Bitcoin tradings in the world were made in Japanese yen. Moreover, lately one of local internet companies claimed that in 2020 they would pay some salaries to their employees in the form of cryptocurrency. Isn’t it “all in”?
As for the Russian blockchain industry, the hero of the year is still the almighty Vitalik Buterin, the famous Ethereum creator. Earlier this year media was all about his meeting with Russian president Vladimir Putin at the International Economic Forum in St. Petersburg. The conversation between these too was totally private, surrounded by various rumors. But the thing is that after this tete-a-tete, the Russian government has changed its attitude towards blockchain and switched it from “ban it forever” to “make sure the legal status of cryptocurrencies and blockchain is settled before the summer of 2020”.
As blockchain is slowly making its way in Russia, it’s about to be adopted next door – in Belarus. The Union State president, Alexander Lukashenko, signed a decree that has legalized transactions in crypto-currencies. “All smart and intelligent people know what stability and order are,” Lukashenko said. “They’re all trying to reach that shore. We’re prepared to arrange a dock and even a harbor.”
In December, Bitcoin took Wall Street, when two Chicago exchanges – CME and CBOE – started trading futures on Bitcoin. As of now, for example, February futures are traded for an average price of $18,870.
Some important tech upgrades to blockchain took place in 2020. The best example is a SegWit implementation, which significantly improved Bitcoin protocol, enlarged a transaction volume and therefore has speeded it up.
ICO of the year
If you want a successful ICO, make it last … for a year. This is exactly what developers of EOS, an infrastructure for decentralized applications, have done – on the very first day the tokensale hit the $200 million mark, and ever since 2 million EOS tokens have been selling everyday.
Filecoin made everyone excited, when managed to raise $257 million on a regulated ICO, which means that every tokensale participant – there were banks, large companies and high net individuals – had to go through a precise verification process. Thus Filecoin team not only managed to filter their own clients, but also to fulfill the US Security Exchange Commission on ICO market regulations.
Cindicator, a platform providing financial analysis using Hybrid Intelligence technology, also closed their ICO, raising $15 million and using Whitelist policy during the sale. A whitelist is basically the same thing as a waitlist – only that you have to be put on the list and also verified.
One of the fastest ICOs this year, definitely a “ninja” sale, belongs to Bancor. The team managed to raise $153 million within just 3 hours. As for the speed and the volume of growth, the winners’ stand is taken by the following coins: Qtum jumped from $0,292 to $6 (X228), Populous grew 159 times bigger (from $0,278 to $44,5) and OmiseGo showed more than seventy-fold increase.
Scam ICO of the year
It’s hard to decide, whether Tezos should be put on the previous list, raising a record high amount of $232 million on ICO and gaining so much attention for their great and perspective idea of a safe and transparent managing platform, or should it really be named The Scam Of The Year?
The project has been frozen ever since the founders, a Franco-American couple, found themselves involved in various scandals and court proceedings.
Booming ICO market has given rise not only to projects that are about to change our future, but has also bred millions of scam companies, or just made working on blockchain something to laugh about. The Scam Of The Year list can actually be so long that one would read it until the end of 2020. Here we have Ukrainian cons, who under the name of Swisscoin stole almost $500,000 and were eventually arrested; Dogecoin – which is fairly named a “joke currency”; Useless Ethereum Token, whose creator admits that he was up to spending the raised money for his own pleasure; and many more.
Fork of the year
This title by all odds goes to Bitcoin Cash . It was born in August 2020, was worth around $300 and grew two-fold by November. . As it was the first significant Bitcoin fork, which was, on top of that, actively promoted by Roger Ver himself, it’s price started to grow faster than magic beans. Especially after transaction issues on Bitcoin chain popped up, and due to the SegWIt2x cancellation. In December, the growth was enhanced by the fact that Bitcoin Cash was added to the Coinbase exchange, which is the most downloaded cryptocurrency app in the US. Since August, it has shown a tenfold increase.
As of now, Roger Ver has already switched all his cryptoholdings into Bitcoin Cash, willing to put this cryptocurrency to the second position on the market cap list. Plus, Bitcoin Cash with its fast transactions has become a perfect tool for those trying to knock Bitcoin down.
Tokens of the year
There are three tokens, that evidently made 2020 more interesting for the cryptocurrency market.
Ethereum – a decentralized supercomputer, a system for creating smart-contracts and a platform that really moved the blockchain industry. During 2020 ETH token price grew from $8 to $840 – it’s more than a hundred-fold increase. In December, the number of daily transactions within the Ethereum chain exceeded 1,100,000.
As Ethereum developers claim, the upcoming switch from a “proof-of-work” to a “proof-of-stake” protocol would boost the security and anonymity levels. The transaction and confirmation time will soon approach the level and speed of Visa services.
In spring an Enterprise Ethereum Alliance (EEA) was created – within this organisation, a new ways of implementing the Ethereum blockchain possibilities to business are to be found. Intel (NASDAQ: INTC ), Microsoft (NASDAQ: MSFT ), JPMorgan Chase & Co (NYSE: JPM ), Credit Suisse (SIX: CSGN ), UBS and many others are among the members of the alliance.
Litecoin – the second Bitcoin fork, launched by Charlie Lee back in 2020. It made an unbelievable jump in price in 2020 – from $3.7 to $370, making it a 10,000% increase. One of the industries that welcomed Litecoin with open arms was cybersport. Valve decided to quit payment in Bitcoin and switch to Litecoin completely. Significant number of services noe accept Litecoin – for example, Bitrefill, a very popular platform for refilling mobile accounts, joined a Litecoin family. Litecoin strongly keeps the 5th position in cryptocurrencies market capitalization.
In the middle of December the Dash cryptocurrency price was not more than $10. In just couple days it made a dash – and went up by 125 times. Dash is aimed to maintain the maximum anonymity, due to the Private Send service, while its transactions are faster and fees are smaller than Bitcoin’s. Dash team is up to increasing the number of access points through obtaining and deploying a worldwide chain of ATMs.
Crypto quotes of the year:
Vitalik Buterin: “The problem of an ICO is that a person usually makes something useful for a very few people. Now everybody learned that there was an open source software category, where money could be made really fast. And developers suddenly got to choose, whether they want to keep on working in a basement, or buy themselves a Lamborghini”.
Kim Dotcom: “Bitcoin is a very exciting development, it might lead to a world currency. I think over the next decade it will grow to become one of the most important ways to pay for things and transfer assets.”
Roger Ver: “Bitcoin is the most important invention in the history of the world since the Internet.”
John McAffee: “I will eat my d*ck on national television.” In response to: “In the long term Bitcoin moves above $500,000 within three years. Bets?”
People of the year:
People call the founder of Ethereum, Vitalik Buterin – a Rock’n’Roll Star. Which is almost true, as 23 year old Vitalik is a real IT genius. And market capitalization of his coin – ETH exceeded 75 billion dollars, and already breathes down the neck of Yahoo Finance.
Vitalik had a really hot summer. In June, he met with Vladimir Putin, who almost approved his blockchain work in Russia. He became a meme and fake news hero: people buried Vitalik, even crashed him in a car – all this to make the Ethereum rate fall sharply.
Roger Ver has deserved his title of a “Bitcoin Jesus” in every possible way. He started investing in Bitcoin as early as 2020. He is the Bitcoin.com CEO, and he is so good at his job that he was even able to promote BitcoinCash, one of the Bitcoin forks, with the help of his website. In 2020 he was literally on everybody’s A-list, because the BCH blockchain is designed to become a payment method like Bitcoin, only better,
The main goal of Roger Ver is the creation of an absolutely Libertarian country – every year brings him millions of supporters.
Co-founder of the Bitcoin Foundation and BitInstant Charlie Shrem became a crypto celebrity after his release from jail. It is noteworthy that during the imprisonment, Charlie became a real Blockchain thinker, philosophically approaching the issue of improving the world through Blockchain technology.
Shrem lately joined the Jaxx business development team, and is now preparing to launch his own platform – Intellisys Capital.
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