The Crypto Switch (thecryptoswitch.com) has been flagged by ASIC (Australia) for "Unlicensed". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: thecryptoswitch.com.
I am in a dispute with The Crypto Switch (thecryptoswitch.com) over a trade that was clearly erroneous. The price shown was wrong, I closed at a profit, and they reversed the trade and took the money back. They said it was a system error. So I lose and they keep? Unacceptable.
Pros: Wide product range|Multi-device support
Cons: Search feature is basic
I experienced a security concern with my The Crypto Switch (thecryptoswitch.com) account and reported it immediately. Their response time was inexcusable for a financial platform. It took them four days to acknowledge my report and another week to actually address it.
Pros: Educational resources|Tax reports included
Cons: Withdrawal takes 1-2 business days
I wanted to transfer my portfolio from another broker to The Crypto Switch (thecryptoswitch.com). They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Comprehensive tools|Automated trading options|Risk management tools
Cons: Minimum deposit could be lower
Do not believe the bonus offer from The Crypto Switch (thecryptoswitch.com). The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited through a podcast recommendation and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Risk management tools|Economic calendar|Customizable dashboard
Cons: Desktop app not available on Linux|Inactivity fee applies after 12 months