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CoinBrokerz Review: Unregulated and a Scam

CoinBrokerz Review: Unregulated and a Scam

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CoinBrokerz is an offshore investment platform that is not worth your trust or money. The company has already received negative reviews from those who had invested with them. It is what it is the company is a pure pyramid scheme.

The platform allegedly offers trading services in digital currencies, CFDs, and Forex. The shady firm claim that they have multiple investment plans that their clients can choose from. Unfortunately, the information is wrong as on their website; we did not find the accounts that they are talking about.

We would not recommend CoinBrokerz to any investor in the industry. They have multiple disadvantages, and their website is lacking essential information. The platform is not entirely useless as they provide the latest news in the crypto market. However, instead of risking losing the money, you can invest with a reliable Forex trading brokerage that has a trading history.

The website has an excellent user interface, and it looks professional. English is the only available language, which means their targeted audience is the European nations. They brag that they are focused on offering secure and top-notch services in the industry.

They, however, lack a reputation or trading history. The platform only discusses crypto. Keeping in mind that you can easily find this information on the internet, it does not mean much. What we need to see are the advantages that come along with venturing with them.

CoinBrokerz Review

CoinBrokerz is a web-based platform that has nothing to offer apart from their bogus financial narrative. There is no proof that the company is performing any investment activity. Traders who are used to the popular MT4 platform will not find this film interesting.

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Additionally, you cannot access the platform using mobile or tablet gadgets. These scammers target newbies, as they are the most gullible traders in the market. To become a member of this platform, you only need to have a laptop or a PC, and internet connection, and you can start earning.

Sounds easy, right? Unfortunately, you cannot just deposit funds sit around, and expect to make mind-blowing returns. You need to have the background knowledge and always perform research to know what other traders think about a platform.

CoinBrokerz Review, CoinBrokerz Platform

CoinBrokerz has many assets at the disposal of traders. Moreover, you can also trade digital currencies like Ethereum, Litecoin, Bitcoin, Ripple, NEO, Qtum, Monero, Stellar, TRON, ZCash, EOS, among others. They also offer Forex, commodities, stocks, and indices.

However, in their platform, there is no performance report to show how they are doing in the market. Investing with them would be a blind decision. The platform lack data concerning their trading accounts, the business model that they are incorporating.

The maximum leverage that they offer is 100:1. Unfortunately, all their deals seem too good to be true. The spread that they offer is unknown to traders. Unfortunately, anonymity is not a treasured trait when it comes to online investment. Considering that CoinBrokerz is operating without disclosing, who is handling investors’ money is a red flag.

Withdrawal and Deposits

The company does not provide adequate information regarding their withdrawal requirements. You will probably have to call them to get more detail. The company accepts a minim deposit of $500. That is more than what legit investment companies require.

You will find that some platforms ask for $250 while others do not set a limit. CoinBrokerz is extortion, and you can refrain from trusting them with your funds.

To deposit funds, you can do it using Skrill, Credit card, be it Visa or MasterCard, and they also accept payment via cryptos like BTC and Tether. However, we do not recommend investors cashing in funds into this Ponzi scheme.

Contact Details and Customer

The platform office address is Griffith Corporate Center, Suite 305 Beachmont, Kingstown, St Vincent, and the Grenadines. P.O Box 1510. Unfortunately, we checked, and this is not the location of this pyramid scheme.

We also found out that the company that is running this scam firm is Bitcoin Ltd, which is an offshore platform. Them claiming they are based in the United Kingdom is false information.

The reason why they put up such information is to gain the trust of their clients. You need to perform thorough research on a company before trusting them with your hard-earned money.

The contact you can use to reach the support is either email, [email protected], or phone number +442080892038. After you deposit a considerable amount of money, there is a high possibility that the Ponzi scheme will cut all forms of communication with you.

Regulation

The majority of pyramid schemed do not have regulatory documents, while those who have them are from a foreign regulatory body, which does not mean much as we cannot verify the record are legit. Additionally, offshore financial watchdogs are lenient as you do not have to be physically there to get the papers.

CoinBrokerz is not being monitored by the authority. Hence, they will not handle their customers professionally. They are not in the Financial Authority Conduct (FCA) or Cyprus Securities and Exchange Commission (CySEC) database, yet they are taking money from citizens in the UK and Australian.

Furthermore, FCA has issued a warning to the citizens of the United Kingdom against CoinBrokerz. It is blacklisted from carrying its financial services, and therefore it is another scam on the loose.

They will steal your money and carry on with their fraudulent activities. The Ponzi scheme is not legit, and for the sake of your fund’s safety and personal data, keep off.

CoinBrokerz Scam Platform

The company is a scam that will steal all your earnings without a blink of an eye. They have false information showing their location, which is a major red flag. If we cannot trust them with such minor details, why would anyone risk giving them money? St Vincent and Grenadines is an infamous area that is favorable for Ponzi schemes.

SVG does not have a higher standards requirement for investment companies. Funds are not secure at the hands of CoinBrokerz. The platform offers a 100:1 leverage to traders; this will expose you to more risks.

The company has a compliance page on its platform. The information that we found here is lurking. It only entails what they need from their clients and how they fight money laundering. The withdrawal and deposit section only contains data on how you can withdraw or deposit.

They seem to have hastily designed the website, and it does not create confidence or trust. They have a bitcoin calculator, and despite having so many negative reviews, they do provide an up to date price of digital currencies. Probably this is the only positive review that they have.

You can expect that the losses that you make will be higher than the returns that they promise you. What CoinBrokerz is offering is nothing close to its competitors. What is even worst is the fact that FCA has blacklisted them from carrying their activities in the country.

Final Verdict

There are no investment services taking place in CoinBrokerz. The information that they have on their platform is generic investing with them without knowing their trading condition is a wrong move.

There is better reliable cryptocurrency trading software that you can use to optimize your earnings. Keep off CoinBrokerz as they have proven they are not trustworthy. Their primary interest is the money that you deposit in their system.

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2 Replies to “CoinBrokerz Review: Unregulated and a Scam”

  1. Adress Coinbrokerz USA
    https://www.simplywhois.com/whois/coinbrokerz.com
    Domain Name: coinbrokerz.com
    Registry Domain ID: 2187889609_DOMAIN_COM-VRSN
    Registrar WHOIS Server: whois.godaddy.com
    Registrar URL: http://www.godaddy.com
    Updated Date: 2017-11-16T12:42:43Z
    Creation Date: 2017-11-16T12:42:43Z
    Registrant Street: 14455 N. Hayden Road
    Registrant City: Scottsdale
    Registrant State/Province: Arizona
    Registrant Postal Code: 85260
    Registrant Country: US

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