Coin-Financial (Coin-financial.com) is an awry Binary Options, Crypto Currency, and Forex scam broker. CoinFinancial is claiming to offer the greatest platform for trading Bitcoin. With all these claims, we had to check for ourselves and see what this platform was all about. Most of the comments we saw floating around the web were nugatory which pushed us to investigate. Read this detailed and honest COIN-FINANCIAL Review to get the truth.
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After reading numerous email complaints from users who lost funds with this broker, something was amiss. How can over twenty members be complaining about the same broker and same problem? It seems Coin-Financial is offering insane claims just to get investors to sign up with them. And this is where the problem lies with this broker, lack of credible trading services. This broker is definitely up to no good and we don’t recommend anyone signing up with them.
Landing on their homepage, this broker has a compelling website which easily entices the eye. After a closer look at their website, we found some disturbing features which we have to share. A trading website which handles money should have SSL Encryption. Coin Financial is not taking this vital feature into consideration. Make sure to stay away from this broker for obvious reasons, safety being one of them.
This broker presents itself as one of the best Crypto Currency trading provider. With this claims, one would expect exceptional services. What we found was the opposite; Coin-Financial is offering trading in Binary Options as well. What they have done is use Crypto Currency trading platform to attract investors. This is another fake claim they use to get investors to sign up with them. Another weird character with this broker is their level of anonymity, who owns this platform?
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After a thorough search, we found no evidence linking anyone to this brokerage firm. If Coin-Financial is owned by a company, what’s the name? Why have they failed to give us the names of the founding members? This is what makes us question the mission and objective of this platform. There’s more to this skewed Forex trading broker!
When it comes to their licensing, this is also not clear. These brokers have claimed to have essential licenses in the UK. For all we know, in order to trade in the UK, you have to be licensed and regulated the FCA. And this is what makes this broker a turn off. Signing up with an unregulated broker should be the last thing on anyone’s mind. Stay away from this broker and sign up with only registered brokers. This has no valid evidence to prove licensing.
Where are their licensing and registration documents to prove authenticity? Looking at their website, there’s no information showing any legal documents. Another scary fact with this broker is how well their hide their licensing or lack of. By claiming to have essential UK licenses, they secretly hope no one notices. Sadly, we have to do due diligence and check licensing of each broker. Stay away from Coin-Financial if you have a sane mind, this is a scam.
When it comes to depositing money with this account, these brokers have made this option easy and fast. Depositing funds with Coin Financial takes less than five minutes which is what these scammers are after. Make sure to sign up with brokers who offer fast deposits as well as withdrawal options. Depositing channels include Bank Transfers, Crypto Currency, MasterCard, and Visa. This broker does this for a reason; they want people to deposit fast and without any hurdles.
Withdrawing funds with Coin-Financial is what makes them a certified scam. They don’t want anyone making any withdrawals. What they have done is give members excuses as to why they can’t make withdrawals. Some of the excuses given include lack of reaching minimum trading volume required. To be honest, this broker is a fraud using this platform to fill their pockets with other people’s funds. Make sure to stay away and don’t deposit any funds with COIN FINANCIAL.
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Coin-Financial is offering four different account types to choose from. These account types are named Beginner, Intermediate, Pro, and Expert. What we found odd with these accounts is the high level of minimum deposit. Even the lowest Forex account with this broker requires a high deposit of $1,000. This is way too high considering the required set standards of $250. It seems this broker wants to fill their pockets fast by targeting middle class investors. Stay away!
Another disturbing feature we found with these accounts is how they have the same features. None of them is different from the other except the minimum trading deposit which differs by account. Any broker who offers insane profit margins and accounts with same features should not be trusted. Why should this broker offer accounts with the same features?
What we found shocking with this broker is how funds are handled in a worrisome manner. When it comes to how this broker handles funds, there’s no clear detail. Where do they bank money deposited by users? This is a clear indication we are dealing with a broker who is breaking all the rules.
When it comes to segregation of accounts, this is not followed by Coin Financial. This means Coin-Financial is pooling funds in a single account which is extremely dangerous. It also means members are depositing funds to owner’s personal bank account. If bankruptcy sets in, all funds will be lost. Another disturbing feature with this broker is how they fail to insure funds. No member should expect any compensation from this broker at all. This is a ridiculous broker.
We would not recommend anyone to open an account with this broker. During our entire investigation, details posted on their homepage never changed. Details such as 24 hours, 7 days, and 30 days trading volume remained the same. This means they are simply posting random numbers to enlist investors. And this is not the only problem; lack of proper licensing is another flaw. Anonymity is another huge problem with this broker. Stay away and sign up with licensed brokers at all times.
To understand the extent of which this broker is scamming users, some members have lost over $7,000. We will add this broker to our scam blacklist and protect our readers from signing up. Make sure to warn your family and friends from signing up with this broker.
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Finally, we wish you all the best in your Forex trading experience.
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