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CryptoLogicIQ Review | Is this Yet Another Scam?

by Kevin Berry
Rating: 
  1.2/5   Reviews: 3
CryptoLogicIQ - logo

CryptoLogicIQ is a brokerage firm that provides access to trading not only in cryptocurrencies but also in traditional asset classes: stocks, forex, metals, indices, bonds, and ETFs. The company does not disclose its founding date or the jurisdiction in which it is registered. There is also no mention of licenses or regulations on their website. Therefore, the presence of positive reviews on the Internet makes us very skeptical and surprised. We suspect that we are dealing with yet another scam, rather than an advanced and secure trading platform. Why do we think so? Join us in our investigation.

Highlights

🏛️ Country
⚠️ Regulation
🖥️ Website https://cryptologiciq.com/
🎲 Demo Account No
⏳ Start Time 2023
💲 Minimum Deposit
⚖️ Minimum and Maximum Leverage
⚙️ Trading Platform WebTrader
📨 E-mail support@cryptologiciq.com
📞 Phone

First Impression of Cryptologiciq.com

The official website of CryptoLogicIQ is neither remarkable nor unique. It’s just a typical template site filled with meaningless information, fake advantages, and made-up merits. The broker does not share specifics and details with us but only vaguely describes its features and services. Many conditions and facts about the company’s activities are missing: duration of operation, licenses, business model, terms, and so on. In short, there’s almost no benefit to be gained from the official website.

CryptoLogicIQ - site

At the top of the page, there are sections devoted to the platform, the company’s history, contact information, and crypto assets. The main page talks about advantages and opportunities, and in the footer, there’s a small warning about risks along with an email address. Standard documents, for example, AML & KYC policies and user agreements, are not found. The site is presented only in English. Also, you can’t copy text; this function is disabled for unknown reasons. Overall, CryptoLogicIQ has created a low-grade and low-quality resource.

Partnership and Bonuses

Neither bonuses nor an affiliate program are mentioned on the official CryptoLogicIQ website. It is quite surprising, as similar companies often like to offer some kind of bonuses to clients, and an affiliate program for brokers serves as an additional way to attract new traders.

Account Opening on Cryptologiciq.com

The firm describes the process of starting trading as follows: first, open an account, then make a deposit, and afterward, contact a manager to start making trades. This seems odd. Why do you need to invest money first and then get in touch with a manager? And where is the demo account, which is not even mentioned on the CryptoLogicIQ website?

Registration

The account registration process begins with entering your first and last name, email address, phone number, country, and password. However, we were unable to create a personal cabinet on CryptoLogicIQ. After clicking the “Submit” button, an error appears saying, “Registration failed. Please make sure all the fields are correct”. Attempts to enter different data were unsuccessful. Moreover, there is no online chat for prompt communication; the only option is to write an email, which will delay the problem-solving process by several days. It is a clear negative aspect, as this should not be the case.

Failed registration

Verification

The verification process is not described at all, and documents related to AML&KYC policies are missing. It is a serious oversight that reflects poorly on CryptoLogicIQ. It’s unknown whether the broker has a KYC procedure and what documents need to be provided.

Pros
  • None.
Cons
  • Do not disclose information without prior registration.
  • AML&KYC documents are not available.

Trading Software

The website has a “trading room” section where you can see what the CryptoLogicIQ platform looks like. It’s a primitive web trader with minimal capabilities and severely limited functionality. It’s unclear why the company calls the terminal MT4 Margin WebTrader when the software doesn’t even closely resemble MetaTrader, developed by MetaQuotes. Moreover, there are no mobile applications for the terminal, so trading from a phone can only be done through a browser, not via a convenient app that can be downloaded from official stores like the App Store or Play Market.

Terminal

The platform allows traders to switch between five timeframes and seven types of charts. Various indicators and tools for technical and graphical analysis are also available. Clients can use both market and pending orders, stop-loss/take-profit, and leverage. However, that’s where the functionality and options end. It’s clear that the CryptoLogicIQ platform is not suitable for comprehensive and successful trading. For example, it lacks features such as automated trading, backtesting strategies on historical quotes, an order book, and the ability to upload custom indicators and settings, among others.

The firm could offer a multifunctional and popular alternative. However, given the lack of seriousness on CryptoLogicIQ’s part, expecting this is unrealistic. The broker’s platform is unsuitable for trading, and there are no alternatives.

Features CryptoLogicIQ Private-Terranet RiveGarde
Demo Account
Mobile App ✔️ ✔️
Own Development

How Can I Trade With CryptoLogicIQ?

Despite the company’s bold statements about hundreds and thousands of available assets, we found only forex, cryptocurrencies, stocks, indices, and commodities on the platform. Where are the promised ETFs, bonds, and other asset classes? Furthermore, CryptoLogicIQ is a CFD broker, so futures and spot trading are not available here.

All Info About Accounts

CryptoLogicIQ does not offer various types of accounts to choose from; instead, there is a single account. At least, we did not find any tariff plans on the website. The firm also has problems with providing specific data regarding trading conditions. The size of spreads, commissions, minimum deposit, and leverage are all unknown information. The organization claims low and competitive spreads, but these are just words. What it’s actually like is unknown.

By the way, we did manage to find out the commission size. The company charges 0.75%, which includes 0.4% in administration fees and 0.35% in management fees. However, it’s unclear whether these fees are for transactions or withdrawals. In any case, it’s too high. And Islamic accounts are also missing, as are demo accounts.

Pros
  • None.
Cons
  • Almost all trading conditions are unknown.
  • There is no Islamic account or demo account.

Market Analysis and Education With Cryptologiciq.com

The broker does not have any widgets or tools, such as an economic calendar, live quotes, or a news feed. CryptoLogicIQ promises to provide advanced customer support and market insights from skilled professionals.

Deposit, Withdrawal, and Fees

How to deposit and withdraw money, what commissions are charged for it, what the minimum amounts for operations and limits are – none of this is known. CryptoLogicIQ does not provide any information on this matter, remaining a secretive firm.

Features CryptoLogicIQ Axi StockHome
Debit/Credit Cards ✔️
Electronic Payments ✔️
Crypto Transfers ✔️
Deposit Fee
Withdrawal Fee ✔️

How Can I Contact It?

You can only contact the company’s managers via email. A phone number is not provided, there’s no online chat for quick problem-solving and inquiries, and social media accounts have not been created. Users can also submit a request to CryptoLogicIQ for feedback through a special form.

Pros
  • None.
Cons
  • No phone, online chat, social media accounts, or office address.

Is CryptoLogicIQ Dangerous?

It’s unlikely that any positive remarks can be made regarding the company’s reliability. We failed to register an account, the platform is primitive, and trading conditions are undisclosed – what other red flags will we find with CryptoLogicIQ? The only thing left to check is the company’s operational history and licenses. We’ll get to that now.

How Long Does The Broker Work?

Like any other fraudulent organization, CryptoLogicIQ hides its founding date. Registration documents are missing, but there are fresh reviews online, hinting at a short period of operation. The date of domain registration can determine the approximate launch date of the platform. The domain was registered on July 12, 2023, so there you have the broker’s founding date.

Domain

How Is CryptoLogicIQ Regulated?

The regulation of the broker is very straightforward. The company hides its legal address, and any licenses are not mentioned on the website at all. It is clear that CryptoLogicIQ operates without any license, meaning its activities are illegal. We have nothing to even check. Registration papers and legal documents are also missing, which also speaks to the illegal activity.

Features CryptoLogicIQ SeguroFX  LTC FIN
European Zone
Asian Zone
American Zone
African Zone
Offshore

Frequently Asked Questions (FAQ)

How to Trade With CryptoLogicIQ?

First, you need to register an account and provide personal information. Then, you deposit funds and after that speak with a firm representative. Only then you can start trading. However, we couldn't even register a personal account due to an error.

Is CryptoLogicIQ Legit?

The broker operates illegally. The legal address is not provided, and any documents are completely missing. Licenses are not even mentioned on the website. The organization is not regulated by any financial commission.

How Risky Is It?

Trading with brokers like CryptoLogicIQ is a 100% risk of losing money. It's not worth investing money in an illegal organization that operates without licenses and has only been around for a few months.
Kevin Berry
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Expert Opinion

How dare scammers even publish positive reviews about themselves? They even respond to truthful and negative reviews about themselves. Complete nonsense. People, remember, CryptoLogicIQ is a fraud company that was created a few months ago to scam trusting traders out of their money. They have no license, they are looking for victims from whom they will suck all the money down to the last penny. The domain was created recently, and trading conditions are not disclosed, but they’ve written such fairy tales on their website as if they are the top broker in the world. Don’t fall for the tricks of fraudsters.

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CryptoLogicIQ rating

The level of trust
Quick withdrawal of funds
Efficiency of technical support
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The level of trust
Quick withdrawal of funds
Efficiency of technical support

3 reviews about CryptoLogicIQ

Note Note1 September 14, 2023 - 19:29
A lot of fake positive reviews
The level of trust
Quick withdrawal of funds
Efficiency of technical support

I absolutely do not understand where these positive reviews are coming from about this blatant scam. Although, I suspect that the scammers are writing fake reviews about themselves to lure inexperienced traders into their fraud scheme. Beginners, remember, the only thing that awaits you here is the loss of money, not profit. Therefore, you should not invest here.

Reply
Dok September 18, 2023 - 23:01
Help me, please. How do I get my money back?
Quick withdrawal of funds
Efficiency of technical support

Please help me get my money back. I submitted a request for a withdrawal of $500, but CryptoLogicIQ is not processing the application. I realized that I can’t trade here, so I want to get my money back. The trading conditions are very bad and inappropriate for me. However, the broker, it seems, is not even trying to process my request and transfer the money to me. I’m sure I didn’t make a mistake; all the information is correct, but the money is not even being deducted from my balance. Furthermore, the company’s managers are not getting in touch with me. I suspect this is a scam broker that has long ago taken my money for themselves. I don’t know what to do. Please help, I don’t want to lose money this way.

Reply
Sasha Tsereteli September 27, 2023 - 12:30
I found a lot of negative factors
The level of trust
Quick withdrawal of funds
Efficiency of technical support

I don’t think it’s a good idea to trade with Cryptologiciq. The company looks extremely negative and terrible:
1) I didn’t find any licenses for the broker. Are there any licenses at all? Generally, every brokerage company is obligated to obtain a license; there’s no way around it.
2) I don’t see any legal documents, nor do I see a legal address. Where is the company registered, in which country, and where is its headquarters?
3) I don’t see an explanation of what business model is used in Cryptologiciq? Most likely, it’s a typical dealing desk. And everyone knows the problems with that business model.
4) When was the firm founded? Scammers even decided not to disclose the founding date.
5) What are the trading conditions? What’s the problem with stating the size of spreads, leverage, and other parameters? It is just outrageous.
6) In general, we are dealing with another fraud broker, scam company, and fake platform. Investing here is a guaranteed loss of money.

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