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Fraud Reports Online is dedicated to help the victims of broker scams and also keeps on updating the traders about the latest scam broker news in the market. We have written the CoinsMarkets Review after a long research and found the broker to be a potential scam.
Many signs make this broker a scammer. Read this CoinsMarkets review to uncover everything to make yourself aware of this scam broker.
Broker Website – https://coinsmarkets.io/
Address – London, the United Kingdom
Warned By – Not Recommended By Review Website Like Fraud Reports Online
Coins Markets Review: Introduction
The website of Coins Markets does not provide much critical information that is needed by traders or investors. Their website is not transparent (https://coinsmarkets.io/). To know more about them, read our Coins Markets review below.
From their terms and conditions, we came to know that the website is owned and operated by Maolga Limited and deals in over-the-counter financial products on behalf of the client. The first red flag
Nowhere do they mention on their website where they are physically located. Many presume that their location is London, the United Kingdom. Another red flag.
In their T&C, they state that the company is said to be governed by the laws of Eden Island, Seychelles. Another red flag is that Seychelles does not have any provision for compensation in case the company goes bankrupt or is liquidated by law. Another red flag.
The website claims that they offer web-based solutions so that users can take advantage of a safe, secure, and reliable venture into the dynamic world of digital instruments.
They claim to offer excellent support 24 hours a day, seven days a week via email, phone, and live chat.
They have a web-based software solution that is optimal and fast. It is available for all digital assets and on all devices. They claim that their Next-Gen technology is fully secured and executes orders at lightning speed, giving users the confidence to make a foray into the digital asset market.
CoinsMarkets Review: Digital Assets
Digital assets are a virtual form of currency or e-currency created as a method of exchange for payment of services or goods. Each digital asset makes use of cryptography so as to safeguard and verify each transaction. Basically, digital coins are limited records of data banks that it is not possible to alter.
Coins Markets claims to provide a secured platform for top crypto instruments.
Why not be associated with Coins Markets?
- It is not regulated and licensed. Your capital is at high risk.
- The company is governed by the laws of a low-profile country where regulations are not strict.
- It is unclear from their website if they are an exchange or brokerage company.
- There are many negative reviews on the internet and on social media.
- Somewhere they claim they are an exchange from Cyprus. There is only one cryptocurrency exchange in Cyprus and that is Coindeal.
- Offers a flat trading fee of 0.25%.
- As with many scam websites, withdrawal is a problem.
- Deposits are only through cryptocurrency. Which is neither is traceable nor trackable.
- There are no educational or tutorial videos for the benefit of new traders.
- No sooner do you register than you will immediately get a call from the accounts manager to help you with deposits. And starts telling you of highly profitable trades and investing more money.
- Trading is only on paper. No actual trading takes place.
- The trading model is similar to Grand Pacific Trade, a scam model. The offering is only coin-to-coin trading.
- Fiat currency is not accepted.
- There is no demo account for users to know if the software is seamless. The website is not suitable for beginners.
- It does not support popular coins like Ripple, Ethereum, and Neo.
- Not available to US citizens.
- Covers only one asset class.
Scammed by Coins Markets?
If you are a victim of the CoinsMarkets scam, you can file a complaint here and get help from Fraud Reports Online. We, at Fraud Reports Online, are there to help you out of this situation. We provide international fund recovery services.
Apart from cryptocurrency scams, we also deal in forex trading scams, beauty product scams, student loan scams, and telegram token crypto scams.
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