As can be seen from the company’s website, legal information about this trading brand is not available. Neither do they reveal license details, which are even more important. This is not a good sign for this Cypriot-based company.
On top of all these mysterious details, there’s the company’s shady platform and trading conditions. Practically, there’s nothing that should make you trust them. But to find out why, read this How2Crypto review carefully.
| Regulated by: | No regulations |
| Is This Company Safe? | No |
| Known Websites: | How2crypto.com |
| Have Warnings from: | N/A |
| Registered in: | Cyprus |
| Operating since: | 2023 |
| Trading Platforms: | Web trader |
| Maximum Leverage: | 1:200 |
| Minimum Deposit: | $5.000 |
| Deposit Bonus: | N/A |
| Trading Assets: | Cryptocurrencies, Forex, Commodities, Indices, Shares |
| Free Demo Account: | No |
| How to Withdraw from This Company? | Since the broker is not regulated by any authority, withdrawal problems are inevitable. The moment some issue occurs, we suggest you book a meeting with our experts and talk about refund options. |
Legal info: Is How2Crypto Legit or a Scam?
One of the first signs this company is a fraud is a lack of transparency. Even though they reveal the Cypriot company address, does that really mean something? Without regulations, no. Therefore, we checked the most important registers in Europe, such as FCA, BaFin, CNMV, and, of course, the Cypriot CySEC. Yet, none of these hold any detail about this firm being regulated.
Consequently, traders can forget about funds protection features. Especially about negative balance protection, guaranteed stop-loss, and the CIF compensation scheme. Even though they mention the protection of the funds by the Swiss bank, we found out that such a bank doesn’t exist.
Who are How2Crypto’s Victims?
Since 2023, when this company was founded, they have mainly targeted Europe. But also, there are some countries that stand out from others. In this case, those are:
- Canada
- United Kingdom
- Germany
Important to realize is that all these countries have strict regulations. Yet, we will reveal in this review that this firm does not comply with those. Anyway, if you find yourself stuck with this broker, feel free to contact us for advice.
Also, it won’t hurt you to check some useful tips from our Immediate Connect review if you want to avoid getting scammed.
Traders Reviews
Another sign of this dubious scam is the How2Crypto reviews. For example, on Trustpilot, there are 25 comments and almost 40% of negative reviews. This means that, in reality, there’s much more.
In general, traders are exposing too many flaws in the How2Crypto platform, primarily about withdrawals. But honestly, you can’t expect anything more from an unregulated broker. Anyway, if you have your funds stolen, get in touch with our chargeback team as soon as possible.
Leverage, Commissions, Spreads, Fees and Taxes
As can be seen, the company only reveals administration and management fees of 0.75% in total. Yet, the more important ones, like spreads, commissions, and overnight swaps, remain unknown. Consequently, traders can expect a lot of manipulation there.
In addition to that, this company offers leverage of 1:200. Yet, all legit Cypriot brokers offer a maximum of up to 1:30 to retail traders. But also, that’s a European Securities and Markets Authority standard, meaning all EU brokers need to abide by it.
Bonuses
One of the easiest ways to extort more money and prevent withdrawals at the same time is bonus offers. Traders are usually greedy and will accept anything for free. But there are always hidden costs.
In this case, the cost is your full deposit. Fairly, this broker doesn’t reveal any bonuses. Also, they don’t reveal T&Cs that would tell us if there are such offers available.
How2Crypto Trading Features
Even though the company claims to offer an advanced platform, it’s not true. Once you get into the company’s trading room, you can easily discover all the flaws. But most importantly, the platform doesn’t offer any advanced features whatsoever.
Trading Platforms Available
Instead of trusted solutions like cTrader or MetaTrader, we can see only the web-based How2Crypto platform. Such platforms are very often easily manipulated, and that’s why traders don’t prefer them.
But even without regulation, accessing How2Crypto trading room will reveal there’s nothing reliable about it.
Available Trading Assets
Tradeable assets can easily make a difference in what broker the client is choosing. Thus, if the broker is not licensed, does it matter? Definitely no. Still, we have to reveal the company’s fake offer of:
- Forex – USD/JPY, AUD/HKD
- Indices – NASDAQ, Dow Jones
- Commodities – gold, platinum
- Shares – AMD, IBM
- Cryptos – BTC, BNB
Account Types
The best way to expose this firm is to check How2Crypto account types offer. There are several options, but none reveal any significant benefits. Even though it appears you’ll have to start with $5k at least, keep in mind that scam brokers will often accept anything above $250.
Anyway, the options are:
- Basic – $5.000
- Bronze – $25.000
- Silver – $50.000
- Gold – $75.000
- Platinum – $100.000
- VIP – $125.000
- Savings Account – $150.000
Mobile Trading App
Without a desktop app, it’s hardly believable the firm will offer a mobile app. But these are quite important when you see how many traders enjoy trading wherever they are. Therefore, we suggest you read our Capital Hub review and find out some useful tips about the importance of the mobile app.
Demo Account
Generally speaking, testing a company’s features is always the preferred option. It can easily get done with a demo or micro account where the risk is zero or minimized. Yet, with this broker, such options are not available.
Education
If the broker wants to scam you, they mostly want you to know as little as possible about trading. That’s why this broker doesn’t offer any educational packages. But anyway, without How2Crypto regulation, it would be meaningless even if they offered it.
How2Crypto Withdrawal
One of the most important things traders have to look at is the withdrawal policy. If that’s not transparent, nothing will be worth it. Still, if the policy is not backed up with a license, it’s still not worth it.
One way or another, How2Crypto scam broker doesn’t reveal its withdrawal procedures and conditions. This means you should prepare your nerves and get ready for manipulation.
Customer Support
As can be seen, the company is offering allegedly trusted support services. There are phone numbers, e-mails, and working hours revealed. But if they are reliable, we are about to see.
Still, keep in mind many scam brokers will use VOIP services to protect their identity. Therefore, some other options would be more suitable.
Key Information To Consider About How2Crypto
Firstly, the company is not revealing its founder and legal information. Secondly, the company is not regulated by any authority, especially not the trusted ones. Thirdly, the company is using a shady platform with unknown trading conditions. Lastly and most importantly, withdrawal procedures and fees are unknown.
If this is not enough for you to realize what this company is doing, nothing will be. Anyway, if you know that you are getting scammed but you don’t know what to do, contact us immediately.
FAQ Section
What is How2Crypto?
How2Crypto is allegedly a Cypriot-based FX and CFD trading firm offering services with zero credibility.
Is How2Crypto a Regulated Broker?
No. The company is not regulated primarily by the CySEC. But also, they don’t have any other reputable licenses like FCA, BaFin, or ASIC.
What is a Chargeback?
A demand by a credit card provider for a retailer to make good the loss on a fraudulent or disputed transaction. To start yours, contact our chargeback team.
