Experience 2021 - Serious Broker or Pure Scam?

Overall Rating: 
5/5 stars




The crypto industry is growing steadily and with it the many different offers around cryptocurrencies. One of the newer exchanges for digital coins is In this article, we take a look at what this trading platform is all about.

One factor that makes the crypto world so versatile and multi-layered is the wide range of offerings. The crypto industry thrives on diversity and is constantly reinventing itself. More and more people want to get into trading with cryptocurrencies and are looking for an alternative to traditional financial products. In order to be able to trade successfully with the various digital currencies, sound knowledge of the crypto industry and the function of the individual currencies is also required, among other things. Traders should not rely on chance here.

At the same time, the trading base, i.e. the crypto exchange, is the basis of the trader. Only with a recommendable trading base can serious trading be done. While there is certainly no shortage of crypto trading platforms on offer, most newcomers lack experience and insight. It is not always easy to find your way through the jungle of the crypto industry as a newcomer. It is therefore important to find out which crypto exchanges are suitable and which crypto exchanges belong to the black sheep. In the case of, we look at whether this is a serious offer or rather a scam. Could be the right platform for you?

The best providers in the test

The best crypto exchanges in comparison.

Go directly to the test winner eToro

Now directly to the test winner among the crypto exchanges.

Serious or to be treated with caution?

When it comes to trading cryptocurrencies or investing in one or more digital currencies, you should not only be sure that you are betting on the right currency, but also trust the right platform. Fortunately, there are countless test reports and experience reports on the various crypto exchanges on the internet. Through these reviews, especially newcomers can get more information about a particular crypto trading platform.

Experience reports on

In the case of, the reviews read quite differently. One tester reports about a scam, another crypto forum writes about the convincing trading results... This first taste does not seem to be completely flawless, which is why it is worth taking a closer look behind the scenes. Looking at the reviews available on the World Wide Web is of course only one way to find out a little more about the offer. Unfortunately, it is not always possible to tell whether the testers are independent and the testimonials authentic. So you should get as comprehensive an overview as possible of the opinions on the internet during this first little research.

Result: has received very different ratings on the net in test assessments and testimonials. Based on these reviews alone, no comprehensive judgement can be made about the provider.

Furthermore, prospective investors should take a closer look at the offer. This includes finding out who is behind the offer and how present the providers are.

At the same time, the security precautions on the platform itself should be looked at more closely and the trading options should also be evaluated. For a reputable provider, the security of the users and the user-friendliness of the platform are among the most important factors. Here, users can get a comprehensive impression of the offer even before making a deposit.

The offer

According to the statements on the website, has been active since 2013. The platform is supposed to be the ideal opportunity for everyone to trade cryptocurrencies. Via, trading could take place from anywhere and thus contribute to the financial freedom of the user.

The first thing that stands out here is that does not use the intrusive advertising measures that are so often used. Although this says nothing about the offer itself, it certainly makes a good impression.

Another plus point that the website offers here is the indication of risks. Reputable providers know about the risks of trading with digital currencies and are not afraid to share this knowledge with traders.

Arbismart Rating
  • The website states that Forex and CFD trading is highly speculative and involves a high risk of total loss of the investment.
  • According to the statements on the website, the company is based in Sofia in Bulgaria and can be reached via an English-speaking customer support.
    There are various trading options on the platform itself. There is the possibility to trade with:

shares and
Index trading

What unfortunately spoils the first good impression are the most likely fake customer reviews on the "About us" page. Although this is not unusual in the crypto industry, it is mostly used by providers who are not really serious.

The fees

Users who want to find out something about the fees at in advance might have a hard time. Because there are no details to be found on the platform in this regard. Test reports repeatedly mention enormously high costs for transfers or inactivity. Anyone who wants to invest with should read the small print very carefully beforehand.

The fees of can be found in the small print. The fees for the platform can be quite high depending on the settlement. Here, investments should be made with caution. offers four account types:

Account type

Minimum deposit

Bonus features


250 US dollars



3,000 US dollars

Seminars and webinars


$ 10,000

Supportive manager


$ 20,000

Premium daily analyzes and premium customer care

What deposit and withdrawal options are accepted?

After setting up a live account, a deposit is required in order to trade. The deposit at can be made in many ways. For the deposit of larger amounts, the provider recommends the bank transfer. Depending on the location of the bank, the money is credited to the account after 2-7 working days. The deposit is confirmed by email and can be made in USD, GBP and EUR. After the successful deposit, the user can start trading.

Those who would like to test the platform first without any financial risk can enjoy the demo mode offered by the operators.
The demo screen is identical to the live account screen and allows the user to get to know the platform authentically. Especially for inexperienced traders, this is a great opportunity to familiarise themselves with the various features and possibilities of the trading base. Nevertheless, users should keep in mind that the charts and analysts displayed there are mostly purely fictitious data.

behind the operator

The account opening

The premium partner of Eintracht Frankfurt and sponsor of many other companies is the regulated and licensed trading platform eToro. This well-known provider is ideal for buying crypto CFDs. Moreover, eToro offers a nice additional feature with social trading.

Create an account with eToro

Our buttons will take you to eToro's platform, which you may need to change. Then click on "Register now" to enter your personal details in the next window. Use a secure password and finally accept the terms and conditions to create an account with eToro.

Open an account with eToro

You will be taken to eToro's homepage. From here, select the "Deposit Money" option - you can deposit up to ‚ā¨2,000 without verification. However, sooner or later you should still verify yourself in order to be able to use all the functions to the full extent.

Now all you have to do is select your desired method from the payment methods and make the payment afterwards. Your money should then be available.


After you have successfully deposited money, you can start buying CFDs at eToro. Click on "Markets" in the navigation menu and then on "Crypto". Here you will be shown a number of cryptocurrencies and all the necessary details about each currency.

To buy the CFD you want, you need to click on "Buy" and then on "Open Trade", as in this example for Ethereum CFD.

You have just bought your first CFD on eToro. We wish you every success with it!

Still haven't opened an account with eToro?

The platform

According to the operators, MetaTrader 4 is the most widely used CFD trading platform on the market, which is also used by other brokers, such as ATFX. Various trading technologies are combined here for the users. Thus, not only commodities and indices can be traded, but also shares and CFs. MT4 is intended to be the basic interface for beginners with a wide range of features - and thus also remain interesting for professionals.


The platform has over 50 integrated indicators and charting tools that help traders track market developments in terms of multiple trading points. Trades can be executed here manually or also through preset indicators. Those who have already dealt with trading with crypto bots know the technology behind the automated robot trading strategies.

Crypto Bots: The calculation for the trading impulses and actions is based on algorithms. In this way, the robot tries to predict the movements of the crypto market and initiates the trades according to these signals.

Of course, users can also pursue their own trading strategies and implement them using the unique MQL4 programming language.

Wallets mandatory

Crypto Bots: The calculation for the trading impulses and actions is based on algorithms. In this way, the robot tries to predict the movements of the crypto market and initiates the trades according to these signals.

Of course, users can also pursue their own trading strategies and implement them using the unique MQL4 programming language. operators

The one-click function is designed to ensure that trades are executed within the shortest possible time. Continuous trading is possible 24 hours a day thanks to the VPS technology (Virtual Private Server), which simulates a standard physical server via cloud technology. According to the operators, delays or connection problems that could lead to trading problems should not occur due to the design of the platform.

The push function of Webtrader is said to enable traders not to miss any offers, order confirmations and alerts. The Webtrader displays the desktop trading environment in a web browser so that users have convenient access from many different devices.

Supported cryptocurrencies

Brokerz School

The platform also offers an education section. In addition to some video tutorials, there is also an EBook and a trading school. It is a pity that no more detailed information about the information content and the structure of these materials can be found without opening an account.

The EBook promises to address topics such as trading Forex. Among other things, it describes why Forex trading is so attractive, what risks and opportunities this form of trading entails and what potentially lucrative trading strategies are available. Users are introduced to the topic with examples of Forex trading.

This detailed approach actually speaks for the seriousness of the provider and should especially please beginners.

The advantages and disadvantages at a glance can convince with some factors and features.


  • The website is clearly structured and quite user-friendly.
  • The company's registered office is clearly indicated and there is also a customer service.
  • The trading offer is broadly diversified with the areas of commodities, CFDs and shares.
  • Trading can be followed via live charts.
  • A learning page is available for users.
  • Deposits can be made in four different ways.


  • Probably fake testimonials on the website.
  • The website is only available in English.
  • Customer support is also only available in English.
  • The fees are not obviously listed.

The conclusion on

Whether is a serious offer or a scam cannot be assessed conclusively. What is certain is that there are certainly worse crypto exchanges, but also better ones. For all traders who are well served with an exclusively English-speaking customer service, the offer should be sufficient with regard to this factor.

If the offer is nevertheless interesting for one or the other trader, own experiences should be collected. The trading offer at is relatively diversified and thus between trading CFDs, commodities and shares a suitable starting point should be found for everyone. In addition, the platform is designed to be understandable and user-friendly.

The most likely fake reviews on the website and the spelling mistakes that have crept in here and there should actually not happen with a reputable provider. The reviews, test reports and testimonials on the internet also give a similarly mixed picture. There are reports of great trading results, but also of unsatisfactory experiences, problems with customer service and the like.

Brokerz.comd is certainly not the worst choice, but unfortunately not the best choice either.

In the case of, it therefore makes sense to fall back on an exchange that has already been tried and tested and recommended several times. Although it cannot be assumed that a scam would occur, there are certainly less complicated and more authentic offers on the market.

Tip: All in all, inexperienced investors in particular should not bet on crypto exchanges that are not 100% recommendable.

Therefore, our recommendation in this case goes to the safe and proven provider eToro. Even beginners are in safe hands here and can't go wrong, especially with the extensive demo account.

About the author

Hi there, my name is Zalman Weinberg. I'm enthusiast with over 7 years of experience in cryptocurrencies and blockchain. Professional Trader providing Blockchain solutions to Startups and Enterprises. Expert in all cryptocurrency exchange APIs (BitMEX, Bittrex, Binance, Bitfinex, Kraken, Poloniex, Gdax etc.). I have also worked with multiple Forex broker APIs.

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