Creditcoin is a cryptocurrency trading platform that claims to offer a variety of services, including spot trading, margin trading, and derivatives trading. However, there is a growing body of evidence that suggests that Creditcoin is a scam.
Company Overview
The website for Creditcoin does not provide much information about the company. The only contact information is an email address and a phone number. There is no physical address listed.
The team behind Creditcoin is also anonymous. The website does not list any names or biographies of the people who run the company.
Services or Products
Creditcoin claims to offer a variety of services, including:
- Spot trading: This allows users to buy and sell cryptocurrencies at market prices.
- Margin trading: This allows users to borrow money from Creditcoin to trade cryptocurrencies.
- Derivatives trading: This allows users to trade contracts that derive their value from the price of cryptocurrencies.
However, there is no evidence that Creditcoin actually offers any of these services. The website does not have a trading platform, and there are no reports of users being able to trade cryptocurrencies on Creditcoin.
License and Regulations
Creditcoin is not licensed or regulated by any financial authority. This means that there is no government oversight of the company and its activities.
Unlicensed brokers are often involved in scams. They may use fake trading platforms or manipulate prices to steal money from their clients.
Why Dealing With An Unlicensed Broker Is Risky
There are several reasons why it is risky to deal with an unlicensed broker:
- There is no government oversight. This means that there is no one to protect you if the broker goes bankrupt or runs away with your money.
- The broker may be involved in a scam. Unlicensed brokers are often used to steal money from people.
- The broker may not be able to provide the services they promise. Unlicensed brokers often lack the resources to provide the services they advertise.
Legal Warning Against Creditcoin
The Financial Conduct Authority (FCA), the UK’s financial regulator, has issued a warning against Creditcoin. The FCA has said that Creditcoin is not authorized to provide financial services in the UK.
You also can go through our other scammer lists such as the SEC Blacklisted Companies, FCA Unauthorised Firms List, ASIC Blacklisted Companies, & Bank Guarantee/SBLC Review.
Client Feedback
There are several complaints about Creditcoin online. Some users have said that they were unable to withdraw their money from Creditcoin. Others have said that they were scammed by the company.
Feedback About Their Trading
There is no evidence that Creditcoin actually offers any trading services. The website does not have a trading platform, and there are no reports of users being able to trade cryptocurrencies on Creditcoin.
Feedback About Their Customer Service
The customer service for Creditcoin is reportedly poor. Users have complained about long wait times and unhelpful staff.
How Can “Reviews Advice” Help You If You Get Scammed?
Reviews Advice is a website that helps people who have been scammed by brokers. The website provides information about how to recover your money and how to avoid being scammed in the future.
Final Thought
Creditcoin is a scam broker. There is no evidence that the company offers any legitimate services. If you are considering using Creditcoin, we urge you to reconsider. You are likely to lose your money.
