Crypto Wallet

Crypto Wallet is a Singapore-based brokerage service that launched in December 2022. According to public records and industry databases, the company operates with no employees listed, suggesting either a very small operation or a shell presence. Its official address is in Singapore, a jurisdiction known for its financial hub status, but the broker lacks any regulatory licence from the Monetary Authority of Singapore (MAS) or any other recognised financial authority.

Online reviews from a small number of clients paint a concerning picture, with a Trustpilot score of 2.0 out of 5 based on 11 ratings. The feedback is universally negative, highlighting issues such as account access loss, unresponsive support, and withdrawal denials. These factors contribute to a high FXCanary Scam Risk Score of 75/100, classified as severe.

Crypto Wallet does not hold any verified regulatory licence. In Singapore, all financial service providers offering securities trading, futures contracts, or leveraged foreign exchange trading must be licensed by the Monetary Authority of Singapore (MAS). A search of the MAS Financial Institutions Directory returns no record for Crypto Wallet.

Cross-checks with international regulators such as the UK's FCA and the US CFTC also show no licences. This means client funds are not protected by any investor compensation scheme, and there is no regulatory body to address disputes. Operating without a licence is a serious red flag, as it leaves traders exposed to full counterparty risk without the safeguards legitimate brokers provide.

The broker does not provide clear information on its account types, trading conditions, or minimum deposit requirements. No official website or documentation was found during our review. This opacity prevents any meaningful comparison with industry standards and raises concerns about the broker's intent.

In the absence of such data, it is impossible to confirm what trading instruments (forex, CFDs, cryptocurrencies) are actually offered, or to assess leverage, spreads, or commissions. Lack of transparency about account terms is a hallmark of untrustworthy operations.

Funding and withdrawal procedures are similarly unknown. User reviews indicate that clients deposited funds via undisclosed methods, but after depositing, they lost all contact with the broker. No formal withdrawal process appears to exist, and no receipts or confirmations were provided.

The lack of transparent funding channels is typical of unregulated schemes, where payment methods may be irreversible and trail untraceable. This makes it extremely difficult for clients to recover their money.

While the broker claims to offer a trading platform, specific details are absent. User reports describe a basic web interface that became inaccessible after deposits, often accompanied by technical issues that locked users out. There is no indication that Crypto Wallet offers any widely used, reputable platform such as MetaTrader 4/5 or cTrader.

Legitimate brokers typically partner with established platform providers to ensure reliable execution and transparency. The absence of such information suggests the platform may be a proprietary front with manipulated data.

Client sentiment is overwhelmingly negative. On Trustpilot, all 11 reviews are 1-star. Common complaints include being locked out of accounts, inability to withdraw funds, and complete cessation of communication. Two specific withdrawal-related complaints were identified.

These reviews consistently label the operation as a scam or fraud. No positive experiences have been recorded, and some users report never having received receipts for their deposits. This pattern aligns with known fraudulent brokerage behavior.

Given the lack of regulation, the absence of transparent operational details, and the pattern of client complaints, Crypto Wallet is not suitable for any type of trader. The severe risk level indicates a high probability of financial loss.

Traders are strongly advised to consider only brokers with proper licences, a track record of reliable service, and clear account terms. Those who have already deposited with Crypto Wallet should explore chargeback options with their payment provider and report the operation to financial authorities.