In today’s world, the forex industry is booming and attracting investors globally. However, it is crucial to be aware of fraudulent brokers who can take advantage of unsuspecting investors. CoinminingFarm Pvt Ltd is one such scam broker that has been found to be operating unlawfully in the industry.
Company Overview
CoinminingFarm Pvt Ltd is an unlicensed forex broker that claims to offer cryptocurrency trading services. It claims to provide a secure trading environment and advanced trading tools. However, upon closer examination, it appears to be a scam broker that has been designed to swindle investors out of their hard-earned money.
Broker Name | CoinminingFarm Pvt Ltd. |
Website name | https://coinminingfarm.com/ |
Location | Holborn, London |
Regulation | Not regulated |
Warning | Multiple |
Team
The broker’s team is not mentioned on their website, which is a red flag. Trustworthy brokers often provide details about their team, such as their qualifications and experience. The absence of this information suggests that CoinminingFarm Pvt Ltd does not want to disclose its team’s identity, possibly because they have something to hide.
Services or Products
CoinminingFarm Pvt Ltd claims to offer cryptocurrency trading services. However, upon further examination, it is evident that the broker is not regulated and has no license to provide these services. Hence, it is likely that the broker is operating illegally, and investors are advised to stay away from their services.
Trading Platforms
CoinminingFarm Pvt Ltd claims to provide an advanced trading platform. However, the broker’s website does not provide any details about the trading platform’s features or how to access it. This lack of transparency and information is a significant red flag and suggests that the broker is trying to hide something.
License and Regulations
CoinminingFarm Pvt Ltd is not regulated and has no license to operate in the forex industry. This lack of regulation makes it a high-risk broker and indicates that the broker is operating illegally.
License status
This broker cannot provide any license for their investment activities. They should provide all of their license information on their website. They only provided a certificate image from the UK register website. If you click the button below the certificate, it will take you to the homepage.
Regulation status
They are regulated by FCA or other regulated websites. As they are located in the UK, they should have registered their company in FCA. But we did not find any regulation confirmation on the FCA website.
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.
Why Dealing With Unlicensed Brokers Is Risky?
Dealing with unlicensed brokers is risky because they are not bound by any regulations, which means they can engage in fraudulent activities without any repercussions. Additionally, investors who choose unlicensed brokers risk losing their investments without any chance of recovering their funds.
Legal Warnings Against CoinminingFarm Pvt Ltd
There have been legal warnings issued against CoinminingFarm Pvt Ltd by various regulatory authorities worldwide. The Financial Conduct Authority (FCA) in the UK has warned investors about the broker’s unauthorized activities. This warning indicates that the broker is operating unlawfully and is not a trustworthy investment option.
Client Feedback About CoinminingFarm Pvt Ltd:
Client feedback about CoinminingFarm Pvt Ltd is overwhelmingly negative.
About Trading
Clients have reported the negative side of this broker’s trading platform. They complain about account ban issues, withdrawal problems, and faulty trading platforms.
About Customer Service
Previous traders mentioned that their customer service department is not satisfactory as it should be. They claim they replied immediately but after sending
How Can FXfarmupdate Help You If You Get Scammed?
If you have been scammed by CoinminingFarm Pvt Ltd or any other fraudulent broker, FXfarmupdate can help you. Our team of experts can provide you with a free consultation and service recommendations to help you in recovering the lost funds.
Final Thought
CoinminingFarm Pvt Ltd is a scam broker that operates unlawfully in the forex industry. It has no license or regulation, and investors are advised to stay away from their services. Dealing with unlicensed brokers is always a high-risk proposition, and investors should always verify a broker’s license and regulation before investing their money. If you have been scammed by CoinminingFarm Pvt Ltd or any other broker, reach out to FXfarmupdate for assistance.
