crafts-digital.com is a forex broker suspected of financial fraud with serious legal issues. The platform falsely claims to be registered in Switzerland and has provided a registration number that actually belongs to another company. Its claimed regulatory information has also been verified as false. Furthermore, the platform lacks transparent trading conditions and effective customer support, exacerbating suspicions of fraud. Investors should remain highly cautious of this platform to avoid financial loss.
Company Background
crafts-digital.com is suspected of being a financial fraud forex brokerage platform. Its official website is https://crafts-digital.com/, and the domain was registered on April 29, 2024. The platform claims to be registered in Switzerland and has provided the registration number CHE-417.334.701. However, further investigation revealed that this registration number actually belongs to a company named Savex Capital AG, which has no affiliation with Crafts Digital. This fraudulent registration information severely undermines the platform’s credibility and indicates possible fraud.
Regulatory Information
crafts-digital.com claims to be authorized and regulated by the UK Financial Conduct Authority (FCA). However, upon verification, no registration information for this platform was found in the FCA’s database. This means Crafts Digital is not regulated by any official financial regulatory body, and its regulatory claims are false. Brokers lacking regulatory backing pose significant risks, and investors' funds could be at risk.
Website Design:
The design of crafts-digital.com’s website is strikingly similar to that of another known scam platform, Altmining-Expert (https://altmining-expert.online/). It almost completely replicates its website navigation and content layout. This similarity strongly suggests that Crafts Digital may be part of a larger fraudulent network, attempting to mislead investors by copying other platforms' designs to gain their trust.
Account Registration Process
The account registration process on the platform is simple: logging into the website, filling out the application form, submitting identity verification and phone number verification documents, depositing funds, and starting to trade. However, the platform does not provide transparent information about the safety of funds or privacy protection during the process, increasing the risk to users regarding fund storage and personal information security.
Account Types
crafts-digital.com offers two types of accounts:
- Silver Plan: Minimum deposit of $100 and a maximum deposit of $11,999;
- Gold Plan: Minimum deposit of $12,000 with no upper limit.
While these account plans seem to provide options for different levels of investors, given the platform's legal issues, investors should be highly cautious about its account types and high deposit requirements.
Trading Software and Products
The platform claims to use MetaTrader 4 (MT4) trading software and provides a variety of trading products including forex, cryptocurrencies, stocks and ETFs, commodities, and real estate. Despite MT4 being a widely recognized trading software, Crafts Digital does not provide detailed information about trading conditions, making it difficult for investors to fully understand trading costs and risks.
Trading Methods
crafts-digital.com claims to offer three main trading methods:
- Spot Trading: Buying and selling at current market prices.
- Margin Trading: Using leverage to increase trading size, but the platform does not detail its leverage settings and rules.
- Bot Trading: Automated trading, but the platform does not provide specific performance and operating instructions for trading bots.
Although these trading methods are common in financial markets, crafts-digital.com does not disclose any detailed fees or terms for these trading methods, adding to the investment risk due to lack of transparency.
Spreads, Leverage, and Commission
crafts-digital.com does not provide any specific information about the spreads, leverage, and commissions for its trading products. For investors, understanding these costs and conditions is crucial, and the platform's lack of this information could mean facing hidden fees or unreasonable trading costs.
Deposit and Withdrawal Methods
The platform does not disclose any detailed information about deposit and withdrawal methods on its website. Legitimate brokers typically list supported payment channels and fund processing times, and crafts-digital.com’s lack of transparency in this area further indicates potential fund security issues.
Customer Support
crafts-digital.com does not provide any effective customer support channels. The platform lacks phone contact, email, or online customer service support. The absence of customer support means that investors will find it difficult to get help when encountering issues, further raising concerns about fund security and platform reliability.
Conclusion
crafts-digital.com is a forex brokerage platform with clear signs of fraud. Its false company registration information, fraudulent regulatory claims, lack of transparency in trading conditions, and absence of communication channels with investors all indicate serious risks. Investors should remain highly cautious of this platform and avoid any form of transactions with it to prevent financial loss or other fraud.
