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Coin2FX (Coin2fx.com) is the latest scam to hit the lucrative Crypto and Forex world. Coin 2 FX is professing to offer CFDs, Cryptocurrency, Forex, Indices, and Shares to traders. When you land on their homepage, you are greeted with a well-designed website. And this is where things turn messy as your eyes may deceive you. The platform is a scam. Read this genuine and honest COIN2FX Review for more details.
Complaints have been spotted on a few reviews on how the platform is deceiving investors. And this is a huge problem as victims are venting their anger at an unknown owner. Anonymity and clear disregard of trading rules is what you face with Coin2FX. These are pure scam artists who are running the show. We decided to investigate the platform and our findings will shock you. Coin2FX is another awful online trading platform with the intent of stealing from anyone who signs up.
To start us off, we have to mention that the website has no real owner. Ownership of the platform in regards to the founding members remains a mystery. Scam artists will do or say anything to try and make their platforms appear legit. From what we can gather, this is another anonymous platform with the sole aim of stealing from investors who deposit. The best option is to stay away and ignore any of their promotional materials. Affiliate programs on offer are a huge risk to anyone who signs up. You will end up being an accomplice to this rotten online scam.
Reading from the disclaimer at the footer of their homepage, Smart Trade and Investment Ltd is the owner. The disclaimer further states that the company is located in London, United Kingdom. Professional scam artists are sketchy and will do or say anything to try and make their platform appear legit. And this is the case with Coin 2 FX as it is using false location details to throw off investors. What you read as their base of operation is nothing but a random address, never trust these scam artists.
When it comes to the actual owners of Coin 2FX, the whole platform goes dark. There’s no mention of the founding members of this platform. Another disturbing feature with Coin2FX is lack of personnel details regarding the people running the website. If this was a real trading website, they would have posted names of staff members. Aside from the names, we also expected social media handles of staff members. How else members verify who handles their funds on a daily basis?
Since the platform claims to be located in London, we contacted the authorities in this region. The financial Conduct Authority is the body which licenses and regulates Forex entities in the UK. A search on their portal reveals no platform is licensed under the name Coin2FX. Another notable anomaly with Coin2FX is the absence of a license and registration number. You expect a platform to post their license and registration number for all to see. Why fail to give such vital information? A genuine and transparent broker will give you the full details before you even sign up.
A closer look at the trusted domain register whiois.net reveals another shocking twist. Although the platform claims to have experience in trading, the official online register refutes this claim. Whois.net records 23rd October 2019 as the creation date of this website. And this is concrete proof that the website was registered a few months ago. And this is where we draw the line with this bogus online platform. Without a valid trading license, members risk their funds. Never expect any form of compensation when the platform goes under.
Coin2FX is furnishing users with four account types to choose from. Accounts are listed as Silver, Gold, Platinium, and Diamond. These accounts come with so called senior account consultant. Members of the public should be warned these account managers are hired goons. The platform has hired call agents to act as account managers and harass members with calls. You will be called more than five times in a day with these account managers demanding more deposits.
When you jump into the deposit and withdrawal page, other anomalies start to arise. For instance, traders deposit funds using a given bank account number. These scam artists make a call and give you an account where you should deposit your initial funds. According to their withdrawal policy, the withdrawals take place within 2 to 5 business days. Sadly, no member has come out with claims of ever withdrawing funds with this platform. And this makes it a complete scam.
Coin2FX is not furnishing users with a standard trading platform; they opt for a web trader. The problem with their web trader is security. We are deeply concerned with the security level which is lacking with their web trader. Another serious issue is compatibility with other devices such as desktop and mobile phones. Most smartphones are incompatible with this platform, on the go trading is not possible. Lack of adequate security features such as DDoS and SSL encryption is also a sign of an unsecured platform.
If you look carefully, you will notice the website does not offer live chat support. In this day and era, you expect a serious trading platform to offer live communication channels. The use of emails is no longer advocated as emails take time to get any meaningful response. Phone number listed is ever busy and is no wonder members are angry with the platform. These scam artists have ensured it is hard to reach them for obvious reasons. They don’t want to get in touch with their victims.
When it comes to information regarding account types and loans, the platform is a complete liar. No information is given to users regarding the acceptable minimum deposit. False information is that they offer marginal loans. No member has been given these loans even after depositing over $2,000 with the platform. These scam artists are posting over the moon claims and enticing members to sign up. If you sign up expecting to get marginal loans, you are in for a rude surprise.
When it comes to safety of funds, Coin2FX is never going to safeguard your deposits. Lack of segregation of accounts and vital information leaves users at a loss. Another issue with Coin2FX is pooling of funds in one bank account. The account number used is a personal bank account owned by these scam artists. Investors who sign up are basically enriching the pockets of the website’s owners. Never expect any compensation as the platform does not participate in a compensatory scheme.
Evidence is clear we are dealing with a rotten scam platform. Lack of proper regulation documents is proof enough to mark this platform as a scam. To stay safe, ensure you warn your family and friends from joining this platform. Any promotional material via email should be marked as spam. Never accept any calls from their call agents and don’t give them your personal details. These online anonymous investment platforms are in league with hackers to steal personal data.
For a guaranteed safe trading experience, it is best to go for recommended Forex trading tools.
We have to add this platform to our scam blacklist and ensure our readers are kept safe. Beware of this and any other website that bears the same features. Ensure you stay safe while trading and take time to read our reviews for updates regarding trading products.
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