Cryptocurrency Scams

CryptoBase StarFX Review: A Falsely Regulated Crypto Platform

CryptoBase StarFX (cryptobasestarfx.com) is another falsely regulated crypto investment platform. There have been complaints from Crypto Base Star FX users who have no way of withdrawing funds. And this is the reason why we have to expose the platform. If a platform fails to clear withdrawals, there’s no need to invest with it. And this is the reason why there’s so much tension. Read more in our clear CRYPTOBASE STARFX REVIEW.

About CryptoBase StarFX

Is CryptoBase StarFX Safe or a Scam?

On the CryptoBase StarFX about us page, we already see some glaring mistakes. The platform’s inability to produce error-free content. By omitting some words, the about us page makes no sense. That’s not even half of it.

We believe CryptoBaseStarFX is using a clone website design. We have seen this type of website design before. And it doesn’t go well for investors who sign up with such platforms. You end up losing everything.

By now, you know that the crypto market is booming, with brokers promising high returns. You should be vigilant and try and avoid such platforms. That’s the reason why we have to expose the red flags found on the platform.

Crypto Base Star FX is not your average cup of tea. Unfortunately, those who have signed up with the platform are already facing severe problems. For example, if you deposit funds with your credit card, chances are the platform will steal funds from you.

The best way to avoid such platforms is to look for proven and viable investment options. You can invest in ERC tokens that provide users with the best form of crypto investing. Investors get to buy-in from the ground up and later enjoy all the fruits.

Before you invest with a platform, it’s best to do due diligence. Try and find out what makes the platform tick. In addition, it would be best if you read independent reviews to know what others are saying about a particular platform.

Accounts CryptoBase StarFX

There are four investment accounts on CryptoBase StarFX. These plans include starter, silver, gold, and premium. Each of the accounts comes with a promise to make huge amounts. By our calculations, the platform promises over 100 percent ROI.

Here’s a closer look at each of the four accounts;

Starter

It’s the most basic account, and the platform sets it for beginners and newbie investors. The minimum acceptable deposit is $300. With the starter account, the platform makes a guarantee of earning $2,778.

Silver

For the silver account holder, the platform promises to make $4,289. The payout for this account is seven days after vesting. You can deposit a minimum of $700 to get started with the silver account.

Gold

With the gold plan, the minimum acceptable deposit is set at $1,000. The duration is a lifetime, with members withdrawing a week after investing. However, we have a problem with their short vesting period.

Premium

It’s the most exclusive account, with members having to deposit a minimum of $1,500. In addition, members get trading alerts on all accounts with a promise of making $9,556 with this account. The duration is for a lifetime.

Account Features

CryptoBase StarFX Accounts and Investment Packages

You have to ask yourself how the platform plans to make a guaranteed profit margin. With the Crypto market being volatile, making such bold statements is risky. Ask an expert, and there’s not a single algorithm or robot that can be that perfect.

When it comes to trading alerts, it means the platform avails of crypto trading features. The main asset is Bitcoin, Dash, Ethereum, Litecoin, and Ripple. These cryptos are paired against leading forex pairs in the market.

There’s no information on the leverage and spreads available for crypto products. And this means you have to sign up first before knowing the full features. It’s not advised that you sign up blindly when investing. You need to know the features before signing up.

The industry has set regulations when it comes to minimum acceptable leverage. For instance, in Europe, regulators put a cap on maximum leverage at 1:100. In the United States, the leverage is set at 1:50 for retail traders. And this is the jurisdiction the platform claims to reside in.

Business Holder

Information on who owns or runs CryptoBaseStarFX remains a mystery. The platform does its best to avoid such information. So instead, what we have is a statement claiming the platform resides in Washington DC.

All these are false statements as there are no documents to prove them. We have a platform that wants to align itself with a strict-regulated region. There’s not a single regulator that knows this platform.

And this makes CryptoBase StarFX an anonymous crypto investment platform. It would be best if you stayed away from anonymous platforms for security reasons. These platforms usually use bait to get your banking details.

Client Testimony

There are two videos with client testimonies. These are paid actors who will do or say anything to get paid. Today, these actors are promoting the platform for $20. We have seen this type of advertisement before.

You can get to read real testimonials from independent review websites. There’s no chance in hell that the platform in question provides the best investments. With the false testimony, naïve investors easily fall for it.

CryptoBase StarFX License and Registration Claims

Contact and support

Another essential aspect of testing when looking for a viable investment platform is the support structure. Try and find out how fast the platform responds to your emails and messages. In this instance, we have a platform that avails an email address and phone number.

It makes sense to call the representatives with a direct line. The problem is that the number used is ever busy. Also, writing emails won’t help much as the platform only responds to depository requests.

If you send an email asking to withdraw funds, the platform blocks your account. It’s their way of knowing what the user wants out of the platform. Unfortunately, no investor is currently getting any feedback from support.

CryptoBase StarFX License and Regulation

CryptoBase StarFX is not a regulated platform despite claims of being compliant. The platform quotes the CFTC and IFSC as the regulators that licensed the platform. We did a thorough check with the two institutions for confirmation.

None of them have any platform licensed with the above name. And this means we are dealing with a platform that fails to comply with investment rules. Such platforms do as they wish, including having harsh trading conditions.

You should check with regulators to find out whether a platform is licensed or not. Regulators work to ensure all parties adhere to strict guidelines. No party will take advantage of the other.

Regulators also work to protect your funds. For example, a platform must deposit a minimum required amount to act as insurance cover. Without any regulation, Crypto Base Star FX doesn’t protect your funds.

Deposit and Withdrawal

To ensure anyone can quickly deposit funds, the platform avails of normal channels. These include bank and wire transfers. However, there’s a risk of the platform claiming not to receive funds for those who use wire transfers.

Once you fund your account, the balance will reflect in your plan within 24 hours. We don’t recommend funding accounts with unregulated platforms. Chances are, you will likely not withdraw them.

Fund Safety CryptoBase StarFX

Support Crypto Base Star FX

Your funds are far from safe with an unregulated platform. We believe the platform fails to segregate funds. And this puts all members at risk of losing it all once the platform goes dark.

Our Verdict

The best way to invest is to avoid exposed platforms such as CryptoBase StarFX.

You can join the conversation and find out the best ways to invest in crypto.

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