CryptoBo is a foreign exchange brokerage platform that provides binary options as its primary trading service. Its main objective is to allow wider margin of profitability through encryption pair analysis. What’s interesting about this broker is its Bitcoin-enabled platform. As it mainly functions through Bitcoin, everything from financial turnaround up to opening an account is executed with the help of the most popular cryptocurrency.
The platform is furnished with more than 100 trading tools capable of upgrading traders’ profile. Much, its overall features are comprehensive enough to ensure that traders’ finances would bear favorable results. However, many are still skeptical about its offered services since the company opted not to disclose important information. Its credibility remains to be questionable as its main office and registration are unknown to public.
With the help of this review, you will be able to thoroughly assess the legitimacy of this company. This will also clarify whether negative CryptoBo reviews are true or just a way of detractors to cover up the good service that this company offers. To know more about this broker, make sure to read through the whole review.
CryptoBo was established back in 2018. As mentioned above, the head office is unknown to the general public and so is the name of the company it operates under. It has a wide audience scope and the services are made available across the globe. However, clients living in OFAC-sanctioned countries aren’t allowed to subscribe to this platform. These concerns appear to be major issues as majority of traders conduct background review before subscription. More so, its credibility will automatically be tagged as fraudulent since the company does not take any actions to resolve these issues.
Upon review of its features, its comprehensive and easy registration process stands to be one of its good ones. A decent set of binary options are also provided, giving traders the opportunity to pick the best trading instrument. To mention, it is capable of executing Bitcoin-based transactions, allowing cryptocurrency holders to experience a hassle-free funding method.
We can all agree that its services are nothing new since many brokers render the same set that CryptoBo provides. However, it puts heavy emphasis on cryptocurrencies and its accounts are Bitcoin-powered, rejecting the traditional fiat method of payment. Above that, it has a wide array of assets and solutions including:
- more than 15 currency pairs (major, minor, and exotic pairs)
- more than 15 cryptocurrencies (Bitcoin, Ethereum, Litecoin, Monero, Dash)
- 7 indices (Blue-chip stocks)
- 1 Metal (Gold)
- More than 20 stocks (U.S. companies)
The above mentioned assets make a decent selection, but considering the number of assets that other companies provide, CryptoBo falls behind. The company needs to better the selection if it wants to compete with high-tier brokerages. But for now, its current selection is already adequate to carry out a satisfactory trading.
The sleek and minimal interface is the ultimate deal about this broker. The intuitive and comprehensive design is enough to facilitate the needs of novice traders, allowing them to instantly learn without confusing illustrations and buttons. The same feel goes with the charts since adjustments are made with ease.
Since the platform does not acknowledge fiat currencies, funding an account requires clients to pay using Bitcoin. The broker provides clients with Bitcoin wallet where funds can be transferred. As this is the case, those who don’t have any Bitcoin will have to purchase from an exchange in order to fund a CryptoBo account. Since it works that way, traditional methods of funding including bank wires are no longer used.
Going to the exciting part, bonuses and incentives are given generously and users may avail the following according to specific conditions:
- A bonus of 10,000 satoshi
- Limitless trading time
- Unrestricted minimum deposit
- A minimum deal of 0.00000010 BTC
- Client support available in Telegram, Skype, and Email
- 91% margin of profitability
Deposit and Withdrawal
You do not have to worry about anything when it comes to deposits and withdrawals. The broker ensured that the same easy procedure applies to financial turnaround, saving you from annoying and tedious process of verification. With withdrawals, the turnaround is pretty fast it will reflect within three hours. Note that withdrawing funds is not free and clients are charged with a minimum of 0.002 BTC, with a single transaction charged with 0.0004 BTC.
For transparency concerns, the company needs to disclose pertinent information including its location. This greatly affects its credibility since a lot of people tag them as a scam. Its services fell behind the services of other leading brokers in the market- a clear disadvantage since traders prefer those companies offering more favorable conditions. With that, traders must assess carefully whether or not to open an account since it has a questionable credibility. This review highly suggests a thorough evaluation before subscribing to the brokerage.