CoinBrokerz is an unlicensed, offshore CFD broker based in St. Vincent and the Grenadines that specializes in cryptocurrency trading.
The Financial Conduct Authority (FCA) has warned against this broker, claiming CoinBrokerz faked their authorization to the FCA and has blacklisted the company, warning investors that CoinBrokerz could be a scam.
Our team took a careful look at CoinBrokerz and wrote a full review and verdict on whether or not this company is in fact a scam.
We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!
The first problem we noticed when it comes to CoinBrokerz is although they claim to have several account types available for traders to choose from depending on experience, no account types where found anywhere on their website.
Usually, all brokers have a special section that addresses the selection of trading accounts they offer, along with the deposits required and special features of each account listed.
CoinBrokerz has no account types section on their website, nor do they provide the minimum deposit required to begin trading – which is a big disadvantage when it comes to this company.
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CoinBrokerz provides investors with an exclusively web-based trading platform created by Airsoft. The platform is simple enough for even complete beginners to understand and, being web-based, requires no downloads or installations onto your PC or laptop. All you need is an internet connection and you will be good to go.
The CoinBrokerz platform cannot be accessed through tablet or mobile devices – which is another huge disadvantage for this broker.
Moreover, unfortunately, CoinBrokerz does not have the infamous MetaTrader4 (MT4) platform available for users to trade with. MT4 is an investor favorite and one the most downloaded trading platforms worldwide due to its user-friendly interface and powerful trading tools.
Even though MT4 is commonly associated with professional traders, many beginners tend to prefer the platform as well.
Through the CoinBroker web-based platform, investors will gain access to over 100 underlying assets, including cryptocurrencies like Bitcoin and Ethereum, as well as currency pairs, stocks, commodities and market indices. The maximum leverage available is 100:1.
In general, it seems that the entire CoinBrokerz website is especially vague. The broker not only lacks information about their own trading accounts and platforms, but general information on their trading conditions, exact assets available and the company itself. Most information given is limited, generic information about cryptocurrencies, with no extra value given to CoinBrokerz and their role.
As you can imagine, all these are huge red flags for this company and signs that CoinBrokerz is probably a scam.
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Users can reach the CoinBrokerz customer support team via email, phone or the contact form available on their website. The phone numbers provided on the website are English and Russian, and the two emails based on support and compliance queries.
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CoinBrokerz is owned and operated by the company Bitcom Limited, located offshore in Saint Vincent and the Grenadines.
It appears that CoinBrokerz has provided a fake UK address on their website.
The broker accepts several payment methods, which include credit card (Visa, Mastercard) and Skrill. Users can also deposit in BTC or Tether.
Warning: Traders are not advised to deposit any money with this broker.
CoinBrokerz has provided a fake UK address on their website
Through our careful review of this broker and taking into consideration the FCA blacklisting the company, we have concluded that CoinBrokerz is a scam and should not be trusted.
If you want to find a good, regulated broker to trade with instead of another fraudulent company, check out our list of the best regulated brokers.
We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!
Trade with an
award-winning broker
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