CoinsBanking Broker Review

CoinsBanking Broker Review – What Is Wrong With CoinsBanking.com Platform?

CoinsBanking broker chose the notorious Roseau Valley in Dominica for its headquarters, so we weren’t surprised to learn it was another offshore scam. If we are convinced that you should avoid this trading firm for fundamental reasons rather than trusting our word.

We’ve reviewed CoinsBanking for you, so check it out! Also,we encourage you to read our recently updated reviews of AlfaPrime, InstaForex and IV Markets brokers before moving forward.

1. Scam Broker Status: Unregulated
2. Licensed by: Unlicensed Company (No License)
3. Websites of scammers: CoinsBanking.com
4. Forex Trading Scam: Active
5. Scam listed by: N/A
6. Owner of the broker: Coinswitch LTD
7. Country of headquarters: Commonwealth of Dominica
8. Year of foundation: 2021
9. Platforms for online trading: WebTrader
10. Mobile Trading: Only available via the web browser
11. Deposit minimum: $250
12. There is a 40% deposit bonus available.
13. Trading Crypto Assets: Available
14. Trading CFDs is an option: Yes, you can trade CFDs
15. Trading Instruments: Currency Pairs, Commodities, Indices, Shares, Cryptocurrencies
16. Leverage maximum: 1:100
17. There are no Islamic accounts available.
18. Demo Account: Yes, it’s free
19. Does not accept US clients: US traders are not accepted.
20. Scam Broker Verdict: Don’t Invest in It!

Is CoinsBanking Safe And Regulated?

Founded in the offshore country already mentioned, CoinsBanaking is a brand of Coinswitch LTD. The brokerage also lacks a license and provides trading services illegally, which immediately raised a red flag. The trading conditions of this broker are highly suspicious, like many others.

They also have shady legal documentation, so it’s impossible to trust such a company.

What’s Wrong With License?

The Financial Services Unit has a financial regulator in the Commonwealth of Dominica. Based on our search of CoinsBanking’s register, we have determined that it does not have regulation. To be on the safe side, we’ve checked with FCA, ASIC, BaFin, and a few others. You are dealing with offshore fraud, and the outcome was the same.

In addition to FXPoint, SwissSafeway, and Lirunex, we would also like to point out that they are all fraudulent brokerage firms.

Negative CoinsBanking Reviews – Stay Away From Trading Scam

Based on CoinsBanking reviews on Trustpilot and similar websites, we found out that this brokerage tried to buy false reviews, but this wasn’t enough to conceal the scam.

In the beginning, they had a fantastic score and were rated excellent, but their reputation declined as time passed and genuine reviews appeared. Try reading just one example if you don’t trust us.

CoinsBanking Scam – Don’t Put Any Money Into This Broker

If you are still not convinced that CoinsBanking is nothing more than a scam, here’s what you need to know. There are specific bonuses for each account, but nobody will tell you that you must roll over the bonus amount divided by two standard lots (100,000 units) to withdraw. The reason for all those CoinsBanking complaints about withdrawal issues is now apparent to you.

In summary, do not invest money in this fraudulent company; if you have already done so, contact us immediately.

Scammed By CoinsBanking Broker? – Talk To Our Experts Today!

The sophistication of scams also leads to more people falling victim to them. Global Fraud Protection initiated a chargeback procedure after receiving numerous complaints from victims of the CoinsBanking scam.

We’ll make sure your money is returned if you contact us via online chat.