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CoinShield Limited Review: Coinshieldltd.com Forex Scam

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CoinShield Limited Review: Coinshieldltd.com Forex Scam

CoinShield Limited (Coinshieldltd.com) is a false broker claiming to offer trading portfolios with Cryptos. Coin Shield Limited is professing to have over 1000 trading assets and an access to the global market. These claims would work perfectly if only the broker offered withdrawals. Most of the complaints around the broker concern lack of withdrawals. And this is why an investigation was underway to determine the actual trading experience. What we found out is shocking beyond words as Coin ShieldLimited is a scam. Read this genuine COINSHIELD LIMITED Review for more.

CoinShield Limited Review

About CoinShield Limited

Once you land on their homepage, it is clear to see that the design is enticing. These scam brokers are using cloned website to act as a real trading website. An alert has been issued by one of the regulators in Europe concerning this platform. And this is why no trader should open an account with the platform. Coin Shield Limited is another bane Crypto trading platform with stealing from investors. To stay safe when dealing with digital currency trading, it is best to use approved brokers at all times. 

CoinShield Limited is offering Bonds, Cryptocurrencies, Forex, Real Estate, and Stocks. What sets this broker aside from other brokers is the fact that they offer Real estate. They claim to be a regulated broker with over 1,000 assets available on their platform. Other claims include having automated robots to help with trading. One of the main problems with CoinShield Limited is the high deposit requires to open an account. And this is another reason to stay away from this illicit trading platform.

Business Owner

The platform claims to be operated and ran by CoinShield Limited Company. Upon looking at various company registers in Europe, none of them has this entity licensed. And this is proof we are dealing with anonymous online brokers which is a risky affair. Anonymous and unlicensed online investment companies are risky. None of them comply with the set industry regulations and they are able to manipulate data. Most members are unable to contact the company officials as it does not exist.

Client Testimony

These scam brokers will do or say anything to try and make their platforms appear legit. With the client testimony displayed, it is clear to see it is made up. These scam brokers have come up with made up names and posted enticing comments. Positive comments are used to make the platform appear genuine and able to make profits. These scam tactics have been used before and no such investors or members exist. Stay away from the platform as none of the testimonials is seen on the web. Testimonials are on their own website and not any other platform.

Domain Details

According to the trusted domain website whois.net, their trading page was recently created. Information reveals the creation date of the website was on 25th February 2020. As of going to this publication, it means the platform is barely two months old. And this is another solid proof we are dealing with amateurs. Claims of being in the industry for over six years are false. Scam brokers will try and buy their online reputation by claiming to be in the industry for long. Thanks to domain registers, we can now determine when the website was created.

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License and Registration of CoinShield Limited

CoinShield Limited FCA Regulator Warning

With the company claiming to be based in the United Kingdom, it is expected the platform be regulated. What is obvious is that the official regulator in the region has issued an alert over thus platform. The Financial Conduct Authority has issued an alert over this broker. An alert from the regulator is proof CoinShield Limited is NOT LICESNED OR REGULATED. They should not be offering any trading services to investors. Without a valid license, anyone who signs up is joining a broker who does not follow rules.

The broker is at loggerheads with the official regulator in their jurisdiction. Other regulatory bodies in the region plan to do the same. These include BaFIN, CNMV, CONSOB, CSSF, and CySEC. With an alert out, deposits will not be insured by the broker as dictated by trading laws. Stay away from unregulated brokers since they close down shop as quickly as they opened them. Above all else, funds are never safe with an unregulated broker.

Limitations of CoinShield Limited

Account Details

CoinShield Limited is offering members four different plans once they sign up. Plans listed include Basic, Platinum, Gold, and Diamond. The problem with these accounts is improbable account features such as guaranteed profits. A good example is the basic account which comes with a guaranteed 25 percent monthly return. Another bonus issued with the basic account is the 5 percent referral.

CoinShield Limited Account Plans

Account Managers

Each of the four accounts comes with a personal account manager. Although it sounds like a good gesture, these are scam brokers. They offer personal account managers who get profit from members losing. Stay away from the platform as it is a huge problem to members who have already signed up.

Contact and Customer Support

A closer look at their contact page suggests the platform uses email and phone number for contact. Without a live chat support, the other two communication channels are far from being effective. These are scam brokers who don’t want ant communication with would-be victims.  And this is why it is best to test the communication efficiency of a broker before signing up. Stay away from Coin Shield Limited as communication is inefficient.

Deposit and Withdrawal

The entire website has no information on how members will deposit funds. And this is a trick to ensure traders abide to their depository channel. After signing up, members are sent an email with bank account details to which they should deposit funds.  After depositing, some of the members have complained not to have seen any of their funds. The account does not have any funds reflecting.

Trading Platform

CoinShield Limited is using a custom built trading platform. They claim their platform is fast and able to deliver one click order execution. These claims are far from being true as members who have tried the platform are worried. Coin Shield Limited is using a platform that is unstable and far from being compatible with other devices. The broker claims the best way to use the platform is via desktop. It means traders who prefer to trade on the go will find it difficult to use this platform.

Security of funds with CoinShield Limited

They ask for a high depository amount and yet, segregation of accounts is not available. What is clear is that CoinShield Limited is pooling funds in one account. Members are depositing funds into the owner’s bank account. And this is why they insist on sending the depository channel via email.

Scam or Legit with CoinShield Limited

CoinShield Limited Desktop Trading Platform

After carefully reviewing all the facts, we can safely conclude CoinShield Limited is a scam. These scam brokers are refusing to allow their members to withdraw funds.  It is a clear violation of trading rules and is stealing from members. Avoid any conversation with any of their so-called account managers.

Bottom Line

Adding this broker to our scam blacklist will help inform our readers.

Stay safe and use dependable and transparent brokers at all times.

We wish all investors and traders a safe trading experience.

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