Broker takes only Crypto Deposits?

A broker I was thinking of joining because of the low spreads is only accepting crypto.

I'm new to trading (still on demo) but this just seems weird.

Is there a reason why a broker would only choose to accept crypto? Has this happened before to other brokers as an indicator of something else?

crypto broker = bucketshop = scam !!

Kinda sad. Such good rates. :'(

my advice to you:

if you new in this business go and look for a well regulated broker.
avoid to trade this blockchain-crap !
stick to a strategy that fits you and try on demo with only ONE pair!!

All the best to you!!

High chances yes, but not to mention there are few genuine forex brokers out there who only accept crypto due to off-regulatory. I have a very good experience with turnkey forex with great conditions in hand, no sign of manipulation so far, got to know this broker from babypips forum. There are few other genuine only-crypto brokers that talked in that forum, you can check out the thread here: https://forums.babypips.com/t/going-...the-cftc/35612

Victory thanks for that link, it's very helpful.

Turnkey Forex was the broker I was actually thinking of joining. I've had a demo account with them for a while. How long have you been with them? How long have you been trading in general?

I'm not to sure about the crypto only deposit they have. The other broker I'm looking at is Axi-trader (Au regulated).

6+ years trading experience including 2+ years with Turnkey forex.
If I were you, I would check thoroughly about axi trader, it has a strong history but the reviews nowadays out there seems not comforting. Granted, every broker have both positive and negative sides so do your research well. Share here when you opened an ac with them.
Plus if you’re solely looking for Aus regulated, try Pepperstone. Like I said it has both positive and negative sides, you should research well and go for broker which seems suitable to you.

The problem with Pepperstone for me, is that they don't accept residents of Canada while Axi-trader does. I'd rather open an account with a regulated broker even though from research I know that many regulated brokers scam people too, like Halifax Investment Services for example.

I read the Axi-trader reviews on Forex Peace Army, ya doesn't look good. I'll be avoiding them. Was going to take a trader's word on them but not anymore. Thanks for letting me know. There are so many scammers out there it's a little disheartening. Even established brokers seem to screw with people, not just with big spreads either.

How does a trader protect himself from a broker just stealing all their money? Have multiple accounts with different brokers?