Considering investing with Coins-Capital? Before you take the plunge, this review will shed light on the red flags surrounding this broker, helping you make an informed decision.
Is Coins-Capital Legit or Scam?
All signs point to Coins-Capital being a scam broker. Here’s why:
- Lack of Regulation: A legitimate broker is overseen by a reputable financial authority. Coins-Capital, however, lacks any regulatory license, raising serious concerns about its legitimacy and adherence to financial standards.
- Exorbitant Minimum Deposit: Some reviews mention a minimum deposit of a staggering $500,000, far exceeding industry norms and potentially a tactic to lock in large sums from unsuspecting investors.
- Limited Information: Reputable brokers offer detailed information about their services, fees, and team. Coins-Capital’s website, if accessible, likely lacks transparency.
- Negative Client Reviews: Several online reviews report difficulties withdrawing funds and unresponsive customer service.
Company Overview
Feature | Details |
Company Name | |
Regulation | Unregulated |
Services | Forex, Cryptocurrencies (unverified) |
Minimum Deposit | Unverified ($500,000 mentioned in some reviews) |
Services or Products
While Coins-Capital claims to offer forex and cryptocurrency trading, the exact details and available assets remain unclear due to a lack of transparency.
If you have lost money to companies like Cointr-pro, or Volemex; please report it to us on our Report a Scam form.
Trading Platform & Leverages
There’s no clear information about the trading platform used by Coins-Capital. Reputable brokers typically offer industry-standard platforms like MetaTrader 4 (MT4) or MetaTrader 5 (MT5). Leverage details are also unavailable, and unregulated brokers often offer risky high leverage that can amplify losses.
Spreads and Cost of Trading
Information on spreads and trading costs associated with Coins-Capital is absent. Legitimate brokers provide transparent information on fees and commissions.
License and Regulations
This is a major red flag. A valid license from a recognized financial authority like the Financial Conduct Authority (FCA) in the UK or the Securities and Exchange Commission (SEC) in the US is crucial. The Canadian Securities Administrators (CSA) have also issued a warning against Coins-Capital, highlighting its unregistered status.
Legal Warning Against Coins-Capital
The Canadian Securities Administrators (CSA) issued an investor alert regarding Coins-Capital, warning investors that the company is not registered to trade securities or offer investment advice in Manitoba, Canada. This raises concerns about its operations in other jurisdictions as well.
Deposit and Withdrawal Methods
Details about deposit and withdrawal methods are scarce. Some reviews suggest deposits may be restricted to cryptocurrency, making withdrawals difficult and potentially irreversible.
Coins-Capital Pros and Cons
Pros | Cons |
None identified | Unregulated |
| Â | Exorbitant minimum deposit (unverified) |
| Â | Limited information |
| Â | Negative client reviews |
| Â | Potentially restricted deposit/withdrawal methods |
Why Dealing With An Unlicensed Broker Is Risky
Unlicensed brokers operate outside the regulations that protect investors. Here’s why it’s risky:
- No Guarantee of Funds: In case of a scam or the broker’s insolvency, your funds are not protected.
- Unfair Trading Practices: Unregulated brokers can manipulate quotes, making it difficult to make profitable trades.
- Limited Dispute Resolution: If you encounter problems, filing a complaint with a regulatory body is not an option.
Client Feedback
Several online reviews paint a concerning picture. Clients report issues with withdrawing funds and unresponsive customer service.
How Can “Reviewsadvice” Help You If You Get Scammed?
While Reviewsadvice can’t directly recover lost funds, they connect you with resources to fight back. If scammed by a broker, Reviewsadvice can help with:
- Filing Complaints: Guidance on filing against brokers who violate terms or withhold money.
- Recovery Specialists: Connecting you with services to potentially get your funds back.
- Withdrawal Issues: Assistance in filing complaints if you’re facing withdrawal problems.
- Disappearing Brokers: Help find experts to track down the broker and guide your next steps or you Can report to us today by the below form.
File A Complaint Against Scammers
Final Thought
Coins-Capital exhibits all the hallmarks of a scam broker. The lack of regulation, exorbitant minimum deposit, and negative client reviews are major red flags. Avoid Coins-Capital and choose a reputable, licensed broker to safeguard your hard-earned money.
Remember: When venturing into online trading, prioritize safety and choose a broker that operates under the watchful eye of a recognized financial authority.
