Coinwimarket is a cryptocurrency trading platform that has been accused of being a scam. The company claims to be regulated by the Financial Conduct Authority (FCA) in the UK, but this is not the case. Coinwimarket is not regulated by any financial authority.
Company Overview
Coinwimarket was founded in 2022 and is based in the Seychelles. The company’s website claims that it offers a variety of features, including:
- Access to a wide range of cryptocurrencies
- Competitive trading fees
- User-friendly trading platform
- 24/7 customer support
However, there is no evidence to support these claims. The company’s website is full of typos and grammatical errors, and it does not provide any information about its team or its trading platform.
Team
The Coinwimarket website does not list any information about the company’s team. This is a red flag, as legitimate brokers are typically transparent about their staff.
Services or Products
Coinwimarket claims to offer a variety of services, including:
- Cryptocurrency trading
- CFD trading
- Forex trading
- Social trading
However, there is no evidence to support these claims. The company’s website does not provide any information about its trading conditions or its spreads.
License and Regulations
Coinwimarket claims to be regulated by the FCA in the UK. However, this is not the case. The FCA has issued a warning against Coinwimarket, stating that it is not authorized to provide financial services in the UK.
Why Dealing With An Unlicensed Broker Is Risky?
There are many reasons why it is risky to deal with an unlicensed broker. Here are a few:
- Unlicensed brokers are not subject to the same regulations as regulated brokers. This means that they are more likely to engage in fraudulent or unethical practices.
- Unlicensed brokers may not have the financial resources to cover your losses if they go bankrupt.
- It can be difficult to get your money back from an unlicensed broker if you are scammed.
Legal Warning Against Coinwimarket
The Financial Conduct Authority (FCA) in the UK has issued a warning against Coinwimarket, stating that it is not authorized to provide financial services in the UK. The FCA warning states that Coinwimarket is a scam and that you should not invest in it.
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 Coinwimarket online. Some people have reported that they have been unable to withdraw their money from the platform, while others have said that they have been scammed out of their investments.
Feedback About Their Trading
The trading conditions offered by Coinwimarket are not competitive. The spreads are high, and the commissions are also high. This means that you are likely to lose money even if you make a successful trade.
Feedback About Their Customer Service
The customer service offered by Coinwimarket is poor. There have been reports of customers waiting weeks or even months to get a response to their queries.
How Can “Reviews Advice” Help You If You Get Scammed?
If you have been scammed by a broker, there are a few things you can do:
- File a complaint with the relevant financial authority.
- Contact your bank and ask them to block any further payments to the broker.
- Hire a lawyer to help you recover your money.
You can contact us for a quick solution. After you submit your case, we will evaluate the case and get the possible solutions for you. Then during a free consultation call, we will provide you with some recovery service recommendations to help you.
Final Thought
Coinwimarket is a scam broker that should be avoided. If you are thinking about investing with them, we recommend to reconsider. Many legitimate brokers out there offer better trading conditions and customer service.
