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Is CryptoKartal a scam broker?

Overview

CryptoKartal is a forex broker that offers its customers a wide range of trading instruments, including cryptocurrencies, forex, stocks, commodities, indices, ETF’s and shares. According to information provided on their official website, the website is owned by Elmond Enterprise Ltd registered in St. Vincent and Grenadines. The site is also offered in English, Chinese and Turkish. Please read the review thoroughly and decide for yourself whether you can invest your money with CryptoKartal.

About CryptoKartal

CryptoKartal offers its customers with various type of accounts, including:

  • Micro                     –         ($250 Minimum Deposit)
  • Standard                 –         ($5000 Minimum Deposit)
  • Premium                –         ($50,000 Minimum Deposit)

The minimum deposit of $250 seems to be quite nominal as most of the forex brokers out there start with this minimum deposit amount. The micro account comes with a 10% bonus, Standard with 20% and Premium with a 50% welcome bonus. So, if you deposit $100 for the first time in your account, you will get a welcome bonus, as an additional $50 will be added to your account. Other than that, we couldn’t see any major features with the account types as you can see all those normal personal account managers and educational stuff related to trading available here too.

We also tried creating a new account with CryptoKartal, and once we’ve provided the necessary information, we were taken to a web-based trading interface. The website claims that it offers OTC (Over the Counter) trading for its customers to choose between digital assets and fiat currencies easily.

The trading interface lists all the trading instruments in the main window and the top menu contains three separate sections in Trading Strategies and Masters. While the Trading section allows you to choose your favorite trading instrument and start trading, the Strategies section allows choosing an automated strategy that suits your requirements. There is also a Master section that displays the strategy employed by masters or professionals and allows you to copy their trading strategies and use them in your trading.

Is CryptoKartal Legit or Scam?

While most of the forex brokers provide the MT4 trading platform to its customers, we could only see a basic web-based trading interface. Even though we can see some automated trading strategies and options to copy from experts, we still couldn’t feel it is up to the standards set by the MT4 platform. Moreover, the forex broker is not licensed and regulated. As always, we advise our readers to stay away from shady brokers and invest their hard-earned money with regulated brokers.