No matter the cryptocurrency trading brokerage you check on the internet, you will see in their disclaimer talking about the risks involved with cryptocurrencies. This is something that you will keep witnessing with every crypto brokerage. However, this is also a fact that a vast majority of crypto brokerages are also as risky as the cryptocurrencies. This is because many of them are unregulated and don’t do things by the book. If you do not want to end up with such a brokerage, then keep reading my Crypto Conduct Authority review.
Whom Does Crypto Conduct Authority Work For?
The first thing you need to understand about the Crypto Conduct Authority is that it does not work for anyone. The entity is independent and it also operates the same way.
What it wants to achieve is a highly respectful and a cooperative environment where the traders and the brokerages are on the same page. Both sides understand the point of view of the other side and they come together to solve their problems.
For traders, it offers a peace of mind by backing them up if the brokerage is being unfair with them for their rightful compensation claims. The traders can raise complaints against the crypto brokerages if the conduct of the broker is not appropriate. This provides the traders the feeling that someone is on their side as they face a complex situation. However, it also means that the Crypto Conduct Authority would act exactly the same when the brokerage is right.
The authority also takes care of your compensation if the brokerage is not being fair is avoiding to pay you the compensation that is rightfully yours.
It also provides you with the latest updates and alerts about cryptocurrency brokerages that may be running scams, Ponzi schemes, swindles, pyramid schemes, and so much more.
It also strives you to learn as much as you can about cryptocurrency trades and offer you with the latest tips so your crypto learning can rise to another level.
Access to Regulator Warnings
Regulator warnings can vary from industry to industry but here, it is the matter of a brokerage being fishy or not being too open, and clear about their motives. Therefore, the regulators issue warnings about such platforms so their locals are aware of their false activities.
List of Over 50 Trusted Brokerages
Crypto Conduct Authority offers you access to over 50 trusted brokerages that are accredited by the committee after an extensive process. If you choose to go with either of the crypto brokerages from the list, you are doing it with your sole discretion. Still, it would be a regulated and a highly credible brokerage because it has been enlisted on Crypto Conduct Authority after a careful monitoring and assessment process.
Complaints and Compensation Fund
If any of the listed brokerages is not granting you the rightful compensation after you’ve raised a complaint directly with them, you can then reach out to Crypto Conduct Authority.
They will follow up with the respective brokerage and get to the bottom of the matter. If the firm owes you a compensation, then Crypto Conduct Authority makes sure it pays it up, otherwise, it may lose its spot as a listed brokerage.
If the brokerage does not compensate you, then Crypto Conduct Authority does it on their behalf from the compensation fund. It is a fund that is formed with every brokerage and it funds are generated from the monthly enlisting fee.
Advantage for the Brokerages
As a brokerage, you can apply to become a member at the Crypto Conduct Authority’s list of brokers. You not only get to be on the list of highly reliable and accredited platforms but also gain worldwide recognition. Being a brokerage, your user base may experience a significant rise after being listed on Crypto Conduct Authority’s list of brokers.
If you are after more information about the platform, then you can sent them a message through their website. They will get back with a response to the raised query in the simplest yet comprehensible manner.
Final Thoughts
Whether you are a trader or a brokerage, it is important to be alert and never lose an opportunity, and Crypto Conduct Authority is providing you with both of that. You must learn to trust the online trading platforms and Crypto Conduct Authority makes sure such trust is made stronger with their contribution.
