CryptoBo is a binary options broker operating in an unknown location, not regulated by any government agency.
CryptoBo accepts clients from all over the world, excluding some OFAC sanctioned countries.
Binary options broker offers the following underlying assets for trading.
|15+ Currency Pairs||Based on major world currencies.|
|15+ Crypto BOs||Based on Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Ripple, Dash, Monero.|
|7 Indice BOs||Based on baskets of different blue-chip stocks.|
|1 Metal BO||Based on Gold.|
|20+ Stock BOs||Based on shares of US companies.|
CryptoBo is a bitcoin-based binary options broker that is unregulated and operating out of an undisclosed location. As one of just very few brokers we have reviewed, CryptoBo does not even state its official company name on its website, which naturally makes us doubt whether a registered company even exists behind the website.
In terms of its offering, however, CryptoBo appears similar to many other binary options brokers, although it places a heavier emphasis on cryptocurrencies, denominating all trading accounts in bitcoin (BTC) instead of fiat currencies like dollars or euros.
In addition to binary options with bitcoin as the underlying asset, CryptoBo also offers binary options trading in a range of other cryptocurrencies, stocks of US-listed companies, a few of the major forex pairs, gold, and a handful of stock indices. In total, this makes up a decent selection of assets to trade binary options on, although we have certainly seen wider selections from other brokers.
The trading platform CryptoBo offers actually appears pretty well-designed and intuitive enough for beginners to quickly learn how to use. The charts are dynamic and can easily be adjusted according to different timeframes, while also offering access to a limited selection of technical trading indicators.
Unlike most traditional brokers, trading accounts with CryptoBo can only be funded with bitcoin sent directly to a personal bitcoin wallet that the broker will provide for each client. There is, in other words, no bank account or PayPal account that a user can send money to in order to fund a trading account with CryptoBo. As such, any users who don’t already have bitcoin must first buy it from a third party.
Most likely because it is unregulated and entirely based on bitcoin, CryptoBo does not require new users to verify their identity in any way, making it possible to trade pretty much anonymously. All a new user needs to do to sign up with the broker is to register with a nickname and password, and then deposit bitcoin to trade with.
According to the broker, the same easy procedure also applies to withdrawals, with no account verifications necessary before a withdrawal can be made to any personal bitcoin wallet. Note, however, that there is a minimum withdrawal amount of 0.002 BTC, and that the broker charges a withdrawal fee of 0.0004 BTC per transaction.
CryptoBo’s customer support team can only be reached via email and a Skype username listed on the website. Unfortunately, no phone numbers or live chat options are provided by the broker for more urgent matters.
In conclusion, it is clear that CryptoBo is not a broker operating at the same level as reputable binary options and forex brokers. Instead, this is a largely unknown, unregulated, and possibly even unregistered broker without much credibility. Traders who still want to deposit money and trade with this broker should therefore know that they are doing so at their own risk, and it will be very difficult to make a case against the broker in the event of a dispute.
In addition, the broker’s website is also full of spelling mistakes and strange and misleading statements about things like trading being “a simple and safe way to earn money.” In our view, this further puts CryptoBo’s credibility into question, and we do not recommend it as a broker to trade with for anyone.