Coinofpublic is a cryptocurrency broker that has been the subject of many complaints and warnings. The company is unlicensed and unregulated, which makes it a risky proposition for investors.
Company Overview
Coinofpublic is a relatively new broker, having been founded in 2022. The company claims to be headquartered in the United Kingdom, but there is no evidence to support this claim. The website of Coinofpublic is poorly designed and contains many grammatical errors.
Team
The team behind Coinofpublic is anonymous. There is no information available about the people who run the company. This is a red flag, as legitimate brokers should be transparent about their team members.
Services or Products
Coinofpublic offers a variety of cryptocurrency trading services, including spot trading, margin trading, and derivatives trading. The company also offers a variety of investment products, such as managed accounts and robo-advisors.
License and Regulations
Coinofpublic is not licensed by any financial regulator. This means that the company is not subject to any oversight or regulation. This is a major red flag, as it suggests that Coinofpublic is not a legitimate broker.
Why Dealing With An Unlicensed Broker Is Risky?
There are many reasons why it is risky to deal with an unlicensed broker. First, unlicensed brokers are not subject to any oversight or regulation. This means that they can engage in fraudulent or unethical practices without fear of being punished. Second, unlicensed brokers are more likely to be scams. There have been many cases of unlicensed brokers stealing investors’ money.
Legal Warning Against Coinofpublic
The Financial Conduct Authority (FCA), the UK’s financial regulator, has issued a warning against Coinofpublic. The FCA has warned investors that Coinofpublic 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 many complaints about Coinofpublic online. Investors have complained about the company’s high fees, poor customer service, and inability to withdraw funds.
Feedback About Their Trading
Investors who have traded with Coinofpublic have complained about the company’s high spreads and low liquidity. This makes it difficult for investors to make a profit.
Feedback About Their Customer Service
Customer service at Coinofpublic is notoriously bad. Investors have complained about long wait times, unhelpful representatives, and outright rude behavior.
How Can “Reviews Advice” Help You If You Get Scammed?
If you have been scammed by Coinofpublic or another unlicensed broker, there are a few things you can do. First, you should report the scam to the appropriate authorities. In the UK, you can report the scam to the FCA. You should also contact your bank and let them know that you have been scammed. Your bank may be able to help you recover your money.
Finally, you should seek legal advice. Reviewadvice can help you with professional guidance and recovery service recommendations to help you in recovering the lost fund.
Final Thought
Coinofpublic is a scam broker. The company is unlicensed and unregulated, and there are many complaints about it online. If you are considering trading with Coinofpublic, don’t do that. There are many legitimate brokers out there that you can trade with.
