CRYPTASAP – A Brief Review of the Binary Options Broker

In our exclusive Cryptasap broker review, you will find not only an in-depth analysis of this new player in the binary options market, but also unique insights gained through direct interaction with the broker. We explore not only the benefits of its powerful platform, but also expose serious shortcomings that others remain silent about. Here you will find the most complete and honest information, unavailable anywhere else.

The Cryptasap broker promises traders a modern, functional and intuitive platform. Basic services and advertising moves are standard for this niche: beginners can practice on a demo account and get a free video course on working with the trading terminal. The company periodically holds drawings of valuable prizes and distributes holiday promo codes.

Binary options broker Cryptasap is just starting out, and traders have not yet formed a clear opinion about it. Both positive and negative reviews can be found on the Internet, and only we have the most complete information.

Content:

• Main characteristics of a binary options broker
• General information about the Cryptasap broker
  • Domain registration
  • Promotion in social networks
  • Licenses and Regulations
  • Address
  • Customer support
  • Trading conditions
• Register a Cryptasap account
• Profile verification
  • First level
  • Second level
  • Third level
• Trading platform and its capabilities
  • Auxiliary menu
  • Digital options
  • Cryptasap application
• Replenishing an account with a broker and withdrawing money from the site
• Cryptasap broker reviews
• Pros and cons of a broker
• Conclusion: Is it worth trading through the Cryptasap broker?

Main characteristics of a binary options broker

General information about the Cryptasap broker

The broker's website - cryptasap.com is available in two languages: English and Russian. At the same time, its interface automatically switches to the required version depending on the user's location.

Please note! Since March 13, 2024, visitors to the cryptasap.com website have been redirected to the cryptasap.org domain. We found out that the Cryptasap broker registered a new domain, about which a corresponding entry appeared in the register of registered domain names of the Whois service. All subsequent analysis of this binary options broker is based on information from the cryptasap.com website.

Its main page states that the young brokerage company is ready to offer its clients a convenient trading platform and encourages them to choose it as an intermediary when forming a cryptocurrency portfolio.

A rather strange statement for a brokerage company operating in the binary options market. Apparently, the owners decided to attract additional clients in this way, taking advantage of the high interest in cryptocurrencies .

Domain registration

According to official information from the publicly available Whois database, the domain cryptasap.com was registered on February 20, 2022, as evidenced by the entry in the registry. The site was last updated on January 17, 2024.

At the same time, according to the electronic library of Internet sites “Internet Archive”, the resource cryptasap.com was first indexed on March 12, 2023. Before this date, nothing was posted on it.

Promotion in social networks

The project first reached a Russian-speaking audience in early November 2023, as evidenced by the dates of the start of the groups in various social networks.

VKontakte

The cryptasap broker group appeared on the VKontakte social network on November 9, 2023. It regularly publishes publications about trading strategies , searching for Price Action patterns, indicators and psychology , as well as drawings of valuable prizes.

The Community description states that the binary options broker cryptasap was created by a team of talented IT and FinTech industry specialists.

Telegram

The Cryptasap broker channel in Telegram appeared on November 23, 2023. Visually, it is not much different from the community on VKontakte, repeating all publications on the topic of trading and more.

The channel has very few subscribers. Less than 500.

Instagram

The account on this social network appeared in January 2020.

This account has changed its name three times since its creation. Its previous name is unknown. It is possible that the account was acquired and renamed.

At the time of writing the review, no Cryptasap broker groups were found in other social networks. Only reviews and feedback about the Cryptasap broker, exposing their activities.

Licenses and Regulations

The legal status of a brokerage company is one of the most important aspects when choosing a financial services provider. Licensed financial market participants are required to provide the client with detailed information about their company, ultimate beneficiaries, management and actual location. It is also important to provide information about the availability of licenses issued by regulatory authorities that supervise their activities in various jurisdictions.

However, the broker Сryptasap limited itself to publishing in the Client Agreement its full name (CRYPTASAP LIMITED LIABILITY COMPANY), address (San José, San Jose, Mata Redonda, Las Vegas neighborhood, blue building diagonal to La Salle High school) and registration number (4062001312393). This is obviously not enough to establish a trust relationship.

Reliable binary options brokers publish licenses and certificates on their websites, signed by the responsible person and sealed by the authorized body with the date of entry into the register, but none of this is observed in CRYPTASAP LLC.

Instead of these documents we are greeted by a blank page.

At the same time, in the “User Agreement” the company refers to some “legal opinion” confirming the legality of its activities. This document was allegedly drawn up by a local notary, Christian Salas Morgan, in accordance with the laws of the Republic of Costa Rica, and they are ready to provide it if necessary. It is difficult to say how much one can trust such information. A search for CRYPTASAP LLC in the database of public legal entities of the aggregator opencorporates.com also yielded nothing.

This company is also not listed in the specialized database of investigative journalists from the ICIJ project.

Address

Costa Rica, San José, Mata Redonda, Las Vegas neighborhood, blue building diagonal to La Salle High school.

The Google Maps above shows the same "diagonal blue building" mentioned in the address.

Customer support

The broker's support is limited to a form on the website, a chat in the trading platform and email [email protected] .

The email validation service “Verifalia” rates the mailbox [email protected] as risky. Due to the fact that it is managed by an external service that provides this email address. This was probably done in order to make it as difficult as possible to identify the recipient of the emails.

The feedback form present on the website allows you to promptly ask a question or solve a problem. As a rule, the company's specialists answer customer questions within one to two business days. We received a response from support to the questions that we asked them from the feedback form on the website and by e-mail. Both responses came the next day.

There is no company phone number on the website, and the “Community Chat” button is a “stub” that leads nowhere.

At the same time, the “Support” button opens a web terminal with an available demo account for trading – there is no support.

Trading conditions

Clients have two types of accounts: a demo account with $1,000 of virtual money credited automatically upon registration, and a real account. There is no protection against negative balances or segregated accounts. There is also no guarantee fund to cover a certain amount of the trader's investment if the broker becomes insolvent.

Register a Cryptasap account

On the main page of the site, click the “Registration” button to go to the section for entering new user data. Here you need to fill out a standard form, no different from other brokers.

It contains personal information about the client:

• Name, surname
• E-mail
• Password to login

Be sure to agree to the user agreement (check the box). After clicking the “Join” button, a letter from the company with a 6-digit code will be sent to the specified email address, which must be entered in the next window.

After clicking the “Confirm” button, the trading terminal interface is loaded in demo trading mode with an available virtual balance of $1000.

Please note! If you do not top up your new account within 60 days after registering it, it will be deactivated.

Profile verification

Immediately after registering an account, it should be verified so that all services of the Cryptasap broker become available. To do this, go to the “Profile” section.

Here we can change the password, add two-factor authentication, set the time zone of the trading platform, verify the card (if you plan to use this method of depositing and withdrawing funds) and upload documents.

Cryptasap broker client verification consists of three levels.

First level

This basic level is required for both deposits and withdrawals of funds for all clients without exception and consists of:

• User identity verification
• Validation of bank cards (if you plan to use)

To identify the client, the brokerage company asks to upload scanned copies of documents, the list of which will largely depend on the country of registration. For example, for users from the Russian Federation, this may be a passport or driver's license. If you are from another country, check with customer support which document to send.

If you plan to use bank cards to top up your account, you need to verify them in advance. The cryptasap broker allows you to validate up to 3 cards. Please note that you can only withdraw money to the card from which it was deposited. To verify your bank card, upload a scan of its front and back sides, and take a selfie where your face and card are visible.

Second level

The second verification step is required for all users who want to deposit or withdraw more than $2,000. Until this step is completed, withdrawals or deposits will be blocked. This verification step will take the customer to a page where they must provide a personal ID and take a photo of their official ID. The list of accepted documents may vary depending on the country of registration. Additionally, a document confirming the residential address may be required.

Third level

The third verification stage is required for all users who want to deposit or withdraw more than $5,000. Until this verification is completed, deposits and withdrawals will not be available. At this stage, the client will be asked to indicate the source of funds.

Trading platform and its capabilities

The trading platform of the binary options broker Cryptasap is a web terminal with a standard set of functions.

On the right side of the terminal there is a panel for opening transactions. Here you can set the expiration period from 1 to 240 minutes, the investment amount from $1, and also determine the option type to “Up” or “Down”.

In the lower right corner there are graphic settings. By clicking this button, we get to the section for selecting the graphic display of exchange data (Line, Candle, Bars, Hayken Ashi Candles). Here you can also select the time interval from M1 to D1. There are also second intervals.

The next button in the list is responsible for selecting indicators.

And this mini-panel ends with a block of settings for graphical analysis tools, which are essential for conducting technical analysis.

In the upper right corner there is an information panel with the user ID, the balance available for trading and a button to switch the trading mode. In one click you can switch from a demo account to a real one and vice versa.

In the upper left part of the trading platform there is a menu (opens by clicking on “+”) from which the trader can select the financial instrument of interest. The payout rate is indicated next to the instrument code.

At the time of writing the review, the following were available for trading:

• Currencies (21 pcs)
• Cryptocurrencies (9 pcs)
• OTC Market (Currencies - 8 pcs)
• Commodity market (8 pcs)
• Shares (17 pcs)
• Indexes (14 pcs)

Payments:

• Currencies up to 85%
• Cryptocurrencies up to 50%
• Products up to 85%

Auxiliary menu

On the left side of the terminal there is an auxiliary menu consisting of modules:

1. Finance – a module for depositing and withdrawing funds. We will talk about it in detail in the next section of our review.
2. Profile – The profile specifies general settings for the trading platform and personal account, and documents are submitted for verification.
3. Chat – serves for exchanging messages with support service and other traders.

4. Hotkeys – a panel in which you can assign or, on the contrary, deactivate buttons for executing certain commands (Higher, Lower, increase/decrease expiration time, etc.).

5. Postponed Deal – in this panel you can set up postponed orders that are triggered by price (By asset price) or by time (By time). Working with such orders requires certain skills and experience from the trader. Beginners should not start with them.

6. Express orders. A relatively new type of order that allows you to earn several times more than with classic binary options in the case of a successful forecast for three assets at the same time. To trade with them, be sure to analyze your instruments for high correlation and a strong trend. Only in this case can you count on a positive result.

7. Full screen mode.
8. LogOut. Log out of your account.

Digital options

In addition to classic binary options, digital options are available to clients. They provide flexible settings for fixing profits and losses, which increases the chances of making a profit. To switch to the trading mode for these instruments, move the slider on the trade opening panel in the upper right part of the trading terminal.

After clicking on the “Open a deal” button, a panel of digital orders will appear, where you can set the Take-Profit and Stop-Loss values ​​in % of the strike price (opening rate), as well as the type of transaction Purchase or Sell.

Cryptasap application

At the time of writing, there was no mobile app for trading available to users. Instead, the main page of the site talks about a “mobile version” in a browser. How this differs from the regular web terminal is not specified. Perhaps, the development of a native app was originally planned, but for some reason it was curtailed.

Replenishing an account with a broker and withdrawing money from the site

Replenishment of the Cryptasap account and withdrawal of funds from the site is carried out through the “Finance” section of the trading terminal. Attention! The methods of input and output depend on the language of the trading platform interface.

For the English version, electronic payments AdvCash, Perfect Money, and cryptocurrency Tether, USDC, TrueUSD, Bitcoin, Litecoin, Ethereum are available.

At the same time, for the Russian-language version, in addition to the list specified above, the following bank cards are available: Mastercard VISA-MIR RF (transfer to card), Mastercard VISA Kazakhstan (transfer to card), Mastercard VISA-MIR Belarus (online payment), SPB and Yu-money.

You can also order a withdrawal of funds in this module in the “Withdraw the funds” subsection. The funds will be withdrawn in the order of the queue within 3 working days. In addition, the history of payments and account replenishments is available here.

IMPORTANT! Cryptasap broker makes refunds only if your country is on the blacklist. Before replenishing your account with this broker, we strongly recommend contacting the support service and clarifying whether they work with your country.

Selected fragment from the text of the User Agreement: “No user has the right to a refund. Refund of deposits from countries included in the blacklist is the only circumstance under which a refund is possible.”

Cryptasap broker reviews

As expected, traders' opinions on the new binary options broker Cryptasap are divided. Some praise the young company for its convenient trading platform and responsive customer support, while others criticize it, accusing it of fraud.

In positive reviews, traders emphasize the practicality of the trading terminal and the good attitude of the customer support service. At the same time, negative comments are usually very emotional and lack facts that could be verified.

Pros and cons of a broker

The advantages of the binary options broker Cryptasap include a very convenient platform with great opportunities for trading, as well as a variety of trading instruments: from classic binary options to exotic express and increasingly popular digital options. In addition, the company periodically holds drawings of valuable gifts and distributes promo codes.

The Cryptasap broker is most active in promoting its services during holidays.

Among the shortcomings, we note the “raw” interface of the company’s website. For example, by clicking on the “Multichannel Deposit in & outs” link, we are taken to a blank page.

And the link “Bonus programs” instead of information about bonus programs takes us to the trading terminal in demo mode.

Also, the support does not always respond promptly to questions (you can only get an answer the next day), as evidenced by the posts of dissatisfied customers, and the number of currency pairs for trading could be greater.

Conclusion: Is it worth trading through the Cryptasap broker?

Binary options broker Crytasap has only recently started its operations, despite the fact that its domain was purchased in February 2022. It is not surprising that it is not in the rating of the most reliable brokers .

There are many questions about this company, especially regarding permits and registration. At the time of writing the review, it was not possible to clearly establish the existence of the owner of the Crytasap brand - the company Crytasap LLC. There is no entry for registration number 4062001312393 in any public register of legal entities (or we know nothing about it).

The strange positioning of a binary options broker as a platform for building a cryptocurrency portfolio, combined with non-working pages of the only website and the absence of any documents with the signature of the responsible person and the seal of the registration authority, add negativity to the reputation of the young company.

Based on the available data, we categorically cannot recommend this broker to our readers. Perhaps in the future this young company will prove itself as a reliable partner, and we will reconsider our opinion. In the meantime, we advise you to look at the list of proven and reliable brokerage companies available on our website. If you have had experience working with Crytasap, share your impressions in the comments. Your opinion is important to us.

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