CoinsTrades Broker Review
- Before you can withdraw your funds
- Unresponsive to emails
- There is a 50/50 probability of win or loss.
CoinsTrades Broker Review – Can CoinsTrades.com Steal Your Funds?
The German and Cypriot authorities have exposed CoinsTrades and their payment processor BridgerPay.
The CoinsTrades review gives us enough material to demonstrate why dealing with such illicit firms is dangerous and unsafe for your money.
Also, read our recent reviews of AmegaFX, InstaForex, and StoxDC scam brokers. There is a danger to your funds with them!
- Scam Broker Status: Offshore
- Licensed by: Unlicensed company (no regulation)
- Websites of scammers: CoinsTrades.com
- Operational Status: Active Forex Trading Scam
- Scam listed by: BaFin
- Owner of the broker: N/A
- Country of headquarters: Saint Vincent and the Grenadines
- Year of foundation: 2020
- Platforms for online trading: WebTrader
- Mobile Trading: Only available through a web browser
- Deposit minimum: $200
- Bonuses: Unfortunately, no.
- Trading Crypto Assets: Available
- Trading CFDs is an option: yes, you can trade CFDs
- The following trading instruments are available: Forex (FX), Commodities, Indices, Shares, Cryptocurrencies, etc.
- Leverage maximum: 1:400
- Islamic Account: This account type is not available
- Demo Account: Not available
- US traders are not accepted: US traders are not accepted.
- This broker is a scam: Don’t invest in it!
CoinsTrades Regulation: Is The Broker Legit?
The German authority body has issued an official warning against CoinsTrades’ website. However, the information we pulled up did provide you with some helpful information. Due to the broker’s location in Saint Vincent and the Grenadines, it is unregulated.
Therefore, this offshore country requires all brokers to be regulated in the country where they operate. CoinsTrades was not controlled by BaFin, FMA, FCA, or any other register we checked.
Questions About CoinsTrades License – Reputation Problems
Not only does the broker have problems with regulation, but investors have also reported it. CoinsTrades reviews also indicate that clients were prompted to transfer substantial amounts of money to Ireland under BridgerPay, an official Cyprus-based payment processor.
CoinsTrades is a trading scam, so beware. We also recommend avoiding scammers like Jet Capitals, Lirunex, or EpicInvests. The funds you have deposited will not be able to be withdrawn!
Scam Warnings From Financial Regulators
In response to complaints about CoinsTrades, German regulator BaFin launched an official investigation and found that this fraudulent firm operates illegally in Germany. Citizens are being warned against investing further with the brokerage firm and are looking for those in charge.
As well besides Germany, it appears to target clients in Saudi Arabia and Austria as well.
Negative CoinsTrades Reviews – Stay Away From Trading Scam
Furthermore, the broker has 100% negative reviews on Trustpilot, the most reputable review site. Investors claim that their money was transferred to some accounts in Ireland, most likely belonging to a processing company.
As a result, they haven’t received a penny after they requested a payout from CoinsTrades forex brokerage.
Scammed By CoinsTrades Broker? – Talk To Our Experts Today!
We want to know if CoinsTrades have scammed you. You can request a chargeback and file a dispute with our experts. After you tell us what happened, our specialists will evaluate your case during a free consultation.
Don’t let your money go to waste! Let’s get it back before it’s too late! Now is the time to chat with us online!
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FAQ Section:
What Is CoinsTrades, And Should I Invest Money In It?
A forex and CFD trading provider without a license provides online Forex and CFD trading. You are at risk of losing your funds as a result!
What Is The CoinsTrades Minimum Deposit?
It appears that the broker’s minimum deposit is $200 for now.
Are My Funds Safe With CoinsTrades?
With CoinsTrades, your funds are not secure because the broker is blocklisted in Germany.