I've enjoyed watching my crypto holdings (hodlings?) grow lately. But when I got the signal that it was time to start realizing some profits, I found out what a truly poor excuse for a "trading platform" Crypto.com actually is.
Here are a few of the objectionable to unacceptable things it does...
- When you place a closing trade, it literally removes the quantity to be closed from your account view. It's as if you no longer own it. It does not appear as an asset. Neither does the cash you would get from the sale. It's as if you lost that value from your account.
- As if that's not bad enough, it actually shows that missing value as a loss for the day. Place a trade to sell $1000 worth of some token, and your account now looks like you've lost $1000.
- Orders cannot be modified in any way. All you can do is cancel them and recreate them from scratch.
- When you look at an open order, you can't see how far the current price is from your limit price. Current price is not displayed.
- Perhaps the worst thing of all, and, in my book, unethical/illegal, your limit orders will not fill even though they should. What seems to be happening is that Crypto.com holds your order internally until they can fill it at a profit for themselves. And the difference between your price and when they finally buy it from you to sell for more seems to be rather generous for themselves. I have had to cancel and reissue fillable closing orders over and over again, because I can't seem to get out, even though the market seems to be beyond my limit price.
- Try to chat with support, and you find yourself in a maze of topics, none of which address this scam of why your limit price is not filling. And there is no way to simply send a message. They have the illusion of support without ever providing any.