Coins-capital is a forex and CFD trading broker that claims to offer a wide range of trading products and services. However, there are a number of red flags that suggest that Coins-capital is a scam broker.
Company Overview
Coins-capital is a relatively new broker, having been founded in 2022. The company is registered in Seychelles, which is a well-known offshore financial center. Seychelles does not have any regulations specifically for forex and CFD brokers, so there is no guarantee that Coins-capital is operating in a legitimate manner.
Does Coins-capital Have Any License?
Coins-capital does not have any licenses from any reputable financial regulators. This is a major red flag, as regulated brokers are subject to strict rules and regulations that help to protect their clients.
Is Coins-capital Regulated By Any Authority?
Coins-capital claims to be regulated by the Financial Conduct Authority (FCA) in the UK. However, this is not true. The FCA has a list of all regulated brokers on its website, and Coins-capital is not listed.
Pros and Cons
Pros:
- Low minimum deposit of $250
- Variety of trading products and instruments
- Leverage up to 1:500
- No deposit fees
- No withdrawal fees
Cons:
- Not regulated by any reputable financial authority
- Lack of transparency
- Negative reviews from previous clients
- High spreads and commissions
How Does Coins-capital Reach To Their Prey?
Coins-capital uses a variety of methods to reach their potential victims. These methods include:
- Advertising on social media and other websites
- Cold calling
- Email marketing
- Inviting people to webinars and seminars
Technical Details
Minimum Deposit:
The minimum deposit requirement at Coins-capital is $250. This is relatively low compared to other forex and CFD brokers.
Trading Platform:
Coins-capital offers a web-based trading platform. This platform is not as advanced as some of the platforms offered by other brokers, but it is still functional.
Spread:
The spreads at Coins-capital are relatively high. This means that you will pay more when you buy or sell a currency pair.
Leverage:
Coins-capital offers leverage up to 1:500. This means that you can control a large position with a small amount of capital. However, leverage can also magnify your losses, so it is important to use it carefully.
Packages and Products They Offer
Coins-capital offers a variety of trading packages, each with its own set of features and benefits. The most basic package is the Starter Package, which offers access to the web-based trading platform and a demo account. The most advanced package is the VIP Package, which offers access to a dedicated account manager, exclusive trading signals, and other benefits.
Withdrawal and Deposit Method
Coins-capital offers a variety of deposit and withdrawal methods, including credit cards, debit cards, wire transfers, and cryptocurrencies. The minimum withdrawal amount is $250.
What Do Their Previous Traders Say?
The reviews of Coins-capital from previous traders are overwhelmingly negative. Many traders have complained about the high spreads, hidden fees, and difficulty withdrawing funds.
Summing Up- Why Should Not You Trust Coins-capital
There are a number of reasons why you should not trust Coins-capital. These reasons include:
- The company is not regulated by any reputable financial authority.
- The company has a history of negative reviews from previous clients.
- The company’s trading conditions are unfavorable to traders.
If Bad Things Happen, Where Can You Get The Quick Solution?
If you have lost money to Coins-capital, you may be able to recover your funds with the help of a financial recovery firm. These firms specialize in helping people who have been scammed by forex and CFD brokers.
File A Complaint Against Scam Broker's
Final Thoughts
Coins-capital is a scam broker that should be avoided. If you are considering trading with this broker, I urge you to reconsider. There are many reputable brokers out there that offer better trading conditions and customer service.
If you are looking for a legitimate forex or CFD broker, I recommend that you do your research and choose a broker that is regulated by a reputable financial authority.
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