Cryptics Review

About Cryptics

Cryptics (operating at cryptics.cc) is not authorised to provide investment or trading services in Spain, following a warning issued by the Comisión Nacional del Mercado de Valores (CNMV) on August 1, 2022 (). The Ontario Securities Commission (OSC) issued an investor warning on November 8, 2022, stating that Cryptics is not registered to trade in securities in Ontario (). The Autorité des marchés financiers (AMF) in Québec similarly published a warning on March 21, 2023, highlighting that Cryptics.cc is not registered or authorised to solicit investors in Québec ().

No licences or regulatory approvals are indicated on Cryptics’s website or in public registries, and there is no evidence of any oversight from recognised regulatory bodies (FCA, CySEC, ASIC, NFA/CFTC, IIROC, etc.) (). The broker operates offshore and provides a WebTrader platform, with advertised trading conditions including a minimum deposit of USD 500, leverage of up to 1:200, spreads starting at 0.1 pips on EUR/USD, and multiple account types (Standard, Prime, Pro) – all claimed without verifiable documentation (). Withdrawal terms include minimums of USD 50 for card payments and USD 250 for wire transfers, fees up to USD 50, additional charges for insufficient trading turnover, and a monthly dormancy fee of 10% after six months of inactivity ().

Pros and cons

Pros

• Advertises low spreads (from 0.1 pips on EUR/USD).

Cons

• Unregulated and blacklisted by multiple reputable authorities (CNMV, OSC, AMF).
• No regulatory licence or oversight confirmed.
• Opaque corporate operation; offshore structure with unverifiable jurisdiction.
• High deposit and withdrawal requirements and associated fees.
• Excessive dormancy charges and additional penalties tied to trading volume.