Coins Capital is a forex and cryptocurrency trading broker that claims to offer a variety of services, including CFD trading, margin trading, and social trading. However, there are a number of red flags that suggest that Coins Capital is a scam broker.
Company Overview
Coins Capital is not registered with any financial regulator, which is a major red flag. Unregulated brokers are not subject to any oversight, which means that they can operate with impunity. They can engage in fraudulent activities, such as front-running, slippage, and spoofing, without fear of being caught.
In addition, Coins Capital does not have a clear legal entity. The website does not list the company’s address or contact information. This makes it difficult to track down the company if something goes wrong.
Team
The team behind Coins Capital is anonymous. The website does not list the names of the company’s executives or employees. In the above image, we are not sure what management team they’re talking about.
Services or Products
Coins Capital offers a variety of trading services, including CFD trading, margin trading, and social trading. However, the website does not provide any detailed information about these services. This makes it difficult to assess the quality of the services that Coins Capital offers.
License and Regulations
Coins Capital is not licensed by any financial regulator. We searched their website and did not find any other information about their license and regulations. In the footer, you can see a piece of small information about their mother company which is registered in St. Vincent and the Grenadines. They are actually the heaven of scammers and they don’t have any power to to regulate any broker.
Why Dealing With An Unlicensed Broker Is Risky?
There are a number of reasons why it is risky to deal with an unlicensed broker. First, unregulated brokers are not subject to any oversight, which means that they can operate with impunity. They can engage in fraudulent activities, such as front-running, slippage, and spoofing, without fear of being caught.
Second, unregulated brokers are more likely to disappear with your money. If the broker goes bankrupt or simply decides to stop paying withdrawals, you will have no recourse.
Third, unregulated brokers often have poor customer service. If you have a problem with your account, you may have difficulty getting in touch with the broker or getting your issue resolved.
Legal Warning Against Coins Capital
The Financial Conduct Authority (FCA), the UK’s financial regulator, has issued a warning against Coins Capital. The FCA warns that Coins Capital is not authorized to provide financial services in the UK and that it is likely to be a scam.
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 a number of negative reviews about Coins Capital online. Some users have complained that they have been unable to withdraw their funds from the broker. Others have said that they have lost money trading with Coins Capital.
Feedback About Their Trading
The trading platform offered by Coins Capital is not very user-friendly. It is difficult to place trades and the spreads are high.
Feedback About Their Customer Service
The customer service at Coins Capital is poor. Users have complained that they have difficulty getting in touch with the broker and that their issues are not resolved promptly.
How Can “Reviews Advice” Help You If You Get Scammed?
If you have been scammed by Coins Capital, there are a few things you can do. First, you should report the scam to the FCA. You can also file a complaint with the Financial Ombudsman Service.
Besides these, you should contact us to get a quick solution. We are a team of experts to provide proper guidance and recovery options for the lost fund.
Final Thought
Coins Capital is a scam broker. It is not licensed by any financial regulator and there are a number of red flags that suggest that the company is not legitimate. If you are considering trading with Coins Capital, we urge you to reconsider. You are likely to lose money.
