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CoinTrade Broker Review


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CoinTrade Broker Review – Read Why CoinTrade.cc Broker Is Fraudulent

CoinTrade complaints have prompted us to check out the company’s deal with this particular investment firm. Why are there so many negative comments about the broker, and why have the authorities blacklisted the broker?

Check out our honest CoinTrade review and see what we found.

Our recent scam broker reviews of EuroTrades, CentoGX, and Lionetix are highly recommended before we proceed with this review.

 

  1. Scam Broker Status: Unregulated
  2. A company that is not licensed or regulated
  3. Forex Trading Scam: Active
  4. Listed as a scam by CONSOB (Italy)
  5. Owner of the broker: Twingle Consulting Ltd.
  6. Country of headquarters: Commonwealth of Dominica
  7. Year of foundation: 2021
  8. Platforms for online Trading: WebTrader
  9. Mobile Trading is available.
  10. A minimum deposit: $250
  11. Bonus: Up to 20% on your first deposit
  12. It is not possible to trade crypto assets.
  13. You can trade CFDs: Yes, you can trade CFDs
  14. Traders can trade Forex (FX) / Commodities / Indices / Shares
  15. There is maximum leverage: 1:150.
  16. There is no Islamic account available.
  17. Demo Accounts are not available; only live trading traders from the United States are not accepted: Traders from the United States are not accepted.
  18. Don’t Invest in This Scam Broker, says Global Fraud Protection Experts!

 

Is CoinTrade Regulated? – Why Does It Matter?

We have some mismatching information regarding CoinTrade regulation. A company from the Commonwealth of Dominica owns the brand, Twingle Consulting Ltd. In this case, it would need an FSU license, which is irrelevant to you as a client. 

For clarity, offshore regulators typically limit compensation funds to $50,000 and do not require companies to have sufficient capital. These companies don’t need to keep funds in segregated bank accounts since they don’t need to follow ESMA and MiFID rules.

What’s Wrong With A Trading License?

We have reached a point of confusion. Neither the FSU nor CoinTrade have any records of the broker, and the Terms and Conditions imply that Estonian law applies.

Our check of the FI of Estonia revealed precisely this, as this country is notorious for hosting illicit brokers with no regulation whatsoever. The CoinTrade forex brand does not operate under regulated conditions and is unlicensed.

Warnings Against CoinTrade Fraud

Several clients have been defrauded by cointrade. Cc, which has been added to the blacklist of the Italian regulatory body, CONSOB.

Warning Issued by CONSOB

CoinTrade broker is unregulated according to the Italian authorities and does not have permission to provide financial services. Some other scams, including BitcoinEra and ABSystem, were also blacklisted. 

Clients need to be aware of this and report any issues as soon as possible.

Where Is CoinTrade Trading Scam Active?

Researchers have found that the CoinTrade trading scam is primarily active in the following areas:

There seems to be only one country that the broker avoids, so no matter where you are, make sure you decline the offer. There is only one thing that can happen to you: you will be scammed.

Furthermore, we recommend that you be extra cautious when dealing with unregulated brokers such as DeltaFX, Turnkey Forex, and Lirunex.

False Claims About Awards – Another Trading Fraud

Several brokers have claimed to be the best Forex and CFD providers or crypto brokers in the past few years. However, if you check the date of these alleged awards, you will find that they typically occurred years before the website was even created. 

CoinTrade, for instance, claims over $170 trillion in traded and deposited funds, over 40 million orders executed, and over 139 thousand active traders. Since the broker has been in business for less than a year and runs a fraudulent scheme, none of this is possible.

Negative CoinTrade Reviews – Stay Away!

You will find the broker’s rating on Trustpilot to be 2.3 stars, which indicates poor ratings. According to all reviews, you’ll be asked to pay more for a withdrawal once you invest your money with CoinTrade.

It’s a common scam company strategy, and you should never agree to pay more.

Scammed By CoinTrade Broker? – Talk To Our Recovery Experts

CoinTrade brokers prevent clients from withdrawing their funds and tends to freeze their accounts, according to Global Fraud Protection. 

Those who experience CoinTrade scams are encouraged to report them. Our specialists will handle the chargeback procedure, listen to your concerns and offer assistance. Don’t let your money go to waste. Let’s recover soon. Taking the first step starts with a free consultation. Get in touch with us via online chat to schedule one!

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FAQ Section:

What Is CoinTrade, And Should I Invest Money In It?

CoinTrade is an offshore broker offering Forex and CFDs without any regulatory oversight.

Can I Trade Cryptocurrencies And CFDs With CoinTrade Broker?

A CoinTrade broker doesn’t offer crypto trading, but you can trade CFDs.

Does CoinTrade Give a Deposit Bonus When Opening an Account?

It is possible to get up to a 20% bonus on CoinTrade.