Many of those who are involved in trading have repeatedly asked about the legality and integrity of this regulator. There are even those who, apart from the word “regulator”, know nothing more about this organization. We are also interested, first of all, whether this is all fraud and is it really worth waiting for help from him in case of trouble with the broker?

For all those who do not yet know, the CROFR or the Center for Regulation of Financial Market Relations (crofr.net) is a non-governmental, non-profit organization created to control both the level of services provided by brokers and dealing centers and the reliability of services provided by participants in the crypto-currency market (crypto-currencies, crypto-exchange exchanges, cloud-clearing services for crypto-currencies, and companies that attract investments through ICO). Consequently, this organization, being a private office, can not guarantee 100% of anything.

Some may confuse it and take it for CRFIN – the Center for Regulation of Over-the-Counter Financial Instruments and Technologies. Why, and falsely assume that bargaining with the broker regulating the first organization, they will be protected. But everything here is the other way around. CROFR operates purely for personal purposes, without reporting to anyone. The issued broker’s certificates are received in a row for one year, for membership fees, with the subsequent right to renew for a new surcharge.

CROFR - the Center for Regulation of Financial Market Relations (crofr.net)

Of course, many going to the official website of this organization will remain under the impression … saying “what kind of a serious organization is this?”. But the realities are completely different. If you delve into the Internet and find real feedback, then the conclusion will be not so pleasant. As the real statistics show – none of the deceived traders who turned to the “regulator” and stated a problem with the broker, was not heard. Feedback is amazing, because nothing was satisfied. Also a fact testifying to his uselessness is also the fact that many fraudsters having certificates for years have been inflating their clients with impunity. A vivid example of this will be the infamous case with the MMCIS Group. This office had a certificate of the CROFR and deceived traders until the very last day of its existence. At all thus, the regulator prolonged each time the license and did not pay attention to complaints. The result of such an unpleasant incident was the move of the organization from one web address to another (crofr.ru >> crofr.net) – suspicious, is not it? All this was done to ensure that the links to the old site did not lead to them.

Many will say that this is slander from one’s own motives. And is it so? After all, even sharks of the market for providing brokerage services in the sphere of options and other trading assets have certificates. But they also managed to “excel at good” – cheating customers and difficulties with withdrawing funds. All this is also easy to find on the Internet. Therefore, one thing becomes extremely obvious here – the “regulator” sells certificates to all who are able to pay.

To everything that has been said before, it is also necessary to take into account the suspicious fact that the official web site of this organization does not have a physical address, as well as the names of the founders. In addition, there are no data on registration documents of the regulator and documents that give the right to issue certificates and licenses.
It begs the logical question .. “maybe this is just a good element for marketing and nothing more?” Indeed, think carefully, because everyone can take and create your own website with a serious name that is perfectly associated with an already existing genuine state organization. Then decorate with the help of patriotic design, thereby adding officialities to the site and adding a bunch of links to real legal documents. Cherry on the cake will be fake photo-certified certificates and links to real organizations. And voila, we begin to give out certificates to everyone who can pay money. Why did we cite such a flat example – because, most likely, this way the office was created in this way. After all there is no registration of brokers, the center does not even ask for original documents. It is only necessary to fill in the information about the start date, the number of traders available to the broker and indicate the addresses of the offices. And only a fool does not see this as a dirty trick, because this information needs official confirmation. Therefore, any fraudster, writes everything that his heart desires, makes a contribution and receives an “authoritative” confirmation of the regulation of his activities.

“Buy the certificate of the CROFR is equal to buying a diploma in the underground!”

Therefore, the main function of the CROFR is the creation of an additional PR for brokers. In the eyes of traders, a broker with a regulation mark has more confidence. It automatically seems to them that if something is wrong, regulator will help them. But the realities are completely different. To all other things, a lot of fraudsters’ brokers are like verification, get certificates and signs “Regulated by the CROFR.” Therefore, remember – the regulation of your broker’s CROFR does not guarantee anything at all! Traders will be able to expect help only from officially designated regulators (CySec, FCA, etc.). They act in accordance with the laws of the country or several countries authorized by their government or governments.

TRADE CRYPTOCURRENCY

“General Risk Warning: Binary options and cryptocurrency trading carry a high level of risk and can result in the loss of all your funds.”

Doubtful regulation of the CROFR
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