CoinsBanking Review: Coinsbanking.com a Dangerous Scam

 CoinsBanking is a company that has several red flags. The scheme is even urging investors to install remote access software on their websites. Traders complain that the entity is taking stored data. Afterward, they change your computer password. We always request traders to refrain from doing business with shady firms. 

It appears clients of the scheme do not have access to their accounts. Your money will only be available on the dashboard. The platform is trying to convince traders it is legit. Therefore, they sway you by claiming the negative reviews are only coming from their competitors. The reality is that people have lost funds by trusting the Ponzi scheme.

The scheme is asking customers to pay for taxation. The quoted amount is higher than what you have made. Therefore, you have no option but to give up. Nonetheless, CoinsBanking brags it has multiple trading assets. The venture also falsely assures investors it has low fees.

There are no trading activities taking place in this fraudulent scheme. Investors are allowed to choose the trading style that best works for them. Unfortunately, depositing money with the Ponzi scheme would only lead to unfavorable results.

CoinsBanking.com Review

The entity claims the safety of its clients is its main priority. The scheme uses the high-security protocol to protect the funds of investors. However, this is not true as they are even stealing more information stored in your computer. They do this by using Anydeck and other related software. 

CoinsBanking also states it has a demo account. In the case of the Ponzi scheme, the venture will manipulate the data. You won’t be familiarizing yourself with the website. The company boasts it has various products. Joining this firm leads to regret only. Forex, CFDs, Indices, Cryptos, commodities, and stocks are their assets.

The fraud also states it has the best trading platform. The scheme is providing unreliable information. You won’t improve your trading skills with the platform. The founder, financial analysts, and account managers information is missing. This is no mistake as the entity is incapable of providing professional services.

Therefore, you risk trusting unqualified individuals with your money. Transparency is an important thing when it comes to the safety of traders’ funds. Invest only with the genuine cryptocurrency trading brokers in the market. These are schemes that have proven themselves to be legit.

Trading Conditions of CoinsBanking

The scheme avails a web trader interface. You cannot compare the platform to the mighty MetaTrader. The EURUSD currency pair has a spread of 2 pips. The limit is not profitable to the traders. You are required to pay more. The fraudsters are the only ones that can gain from such limits.

The fixed leverage is also not as per the regulatory bodies’ requirements. CoinsBanking advertises a risky limit of 1:100. Con artists are only looking after their wellbeing. 

CoinsBanking Contact Details

CoinsBanking is an offshore investment scheme. The venture does not have a reliable customer support team. If you encounter any problem with the firm, you won’t be able to resolve the matter. We recommend that you stick to legit companies that understand the importance of having a transparent and reliable team. 

Withdrawal and Deposits

The venture allegedly claims it collects funds via bank card only. However, if you attempt to cash in, the process can only be completed by a shady option, Shinepays. Providing misleading information proves that this is a fraudulent scheme. The minimum amount that you can deposit is $250. 

Never deposit even a single coin in a losing venture. The least amount that traders can cash out is $500. The best broker in the market will allow you to get anything that you want. There are proven reports that the scheme is not paying investors. 

Clients Feedback

CoinsBanking is a venture that has been in the market for some time. They have several negative reviews from those that have engaged with them in the past. The support does not respond to the queries of the investors. Investors are losing money daily. If you make a follow up your email will the venture they are not going to read it.

Sadly, the positive reviews online are only there to mislead clients. It will be too late before you notice you have been conned. At first, everything was alright. The scheme will even payout. However, once you issue a withdrawal request, the venture is asking for hidden fees. 

They also ask you to deposit more funds for you to earn a considerable ROI. Based on the report online, the sales reps are not from an English speaking country.  Therefore, there is a language barrier. This is a rip-off scheme. The scheme is cold calling potential clients.

CoinsBanking promises the best outcome. Any attempt to reach the support via the phone number they used hits a hard rock. The company is unregulated. Therefore, even if you report them to the authority, there isn’t much that they can do. 

False Testimonials

Like all other scams in the industry, CoinsBanking is not left behind when providing false testimonials. There is information made in the statement form. There are no profiles, names, or social media links of the individuals that leave the remarks. A proof that the firm is a fraud. There is no point in believing the data.

Regulation Status of  CoinsBanking

The broker does not care to disclose its regulatory status. We were able to identify that the entity’s parent company is Coinswitch Limited. It is an anonymous offshore scheme based in the Commonwealth of Dominica.

 Therefore, it is a surprise that the con artists ask for tax from investors upon their withdrawal request, yet their location is a tax haven. The republic of Dominican does not supervise forex trading or any other online investment activities.

Moreover, CoinsBanking is bragging it has a license from the FCA. The UK body is one of the strict and dedicated to protecting citizens against fraudulent activities. The financial watch cannot permit fraud to collect money from its jurisdiction. The law mandates all investment schemes to operate transparently. 

Therefore, it is an anonymous scheme. Therefore, any attempt to trace them will be futile. The financial bodies also require investment firms to report their daily training activities. The funds must also be segregated in separate accounts. You stand a chance of receiving compensation if you invest with a regulated firm.

Moreover, the legit entities work with top-tier-1 banks. Fund safety is their main priority. Invest wisely and trade with the leading schemes. Avoid CoinsBanking as their terms and conditions do not protect you. The scheme could change its rules at any given moment without giving notice. 

The Domain Insight

Ironically, CoinsBanking has been in the market since February 2018. We do not know the performance of this platform. The domain name is expected to expire in Feb 2023. The firm is privately registered. It also has a low trust score and traffic. The entity will soon collapse. 

Final Verdict

Trading with a venture that has already been exposed as a scam by traders is a blind move. Moreover, the people that are behind the scheme are unknown. There is also no proof of the scheme trading. They even lie about having a license from the regulatory body of the UK. 

Avoid offshore investment schemes. Here is a list of trustworthy cryptocurrency investment schemes around the globe. You will earn passive income with the entity. Your safety also comes first. You can also read the positive reviews from their existing clients.

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