Win ICoin Review: Check out the CONSOB Warning

Win ICoin Review
  • Compliance and Support
  • Deposit Safety
  • Trading Platform
  • User Experience
0.9

Summary

Win ICoin claims to offer the best forex trading platform the industry provides. Dozens of members are crying foul after the platform blocked account access. Here’s the transparent winicoin.com review

Win ICoin is the latest forex investment scam with a barrage of false regulatory claims. Regulators have started issuing warnings regarding engaging with winicoin.com. Those who opened accounts now regret the decision. It’s becoming clear that the platform blocks all withdrawal attempts. WinICoin also tries to lure investors into the Crypto world by offering their coins. Here’s what you need to know in our clear WIN ICOIN REVIEW.

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About Win ICoin

On the about us page, Win ICoin claims to provide more trading opportunities. The platform boasts of having over 150 different trading instruments. We have a platform claiming to be innovative in every aspect of investing and trading.

Win ICoin Review: Pros and Cons

Once you land on the homepage, you find that the platform is not what you would expect. There’s a lot of missing information regarding the critical aspect of trading. For example, there’s no quote on spreads for these trading assets.

From the word go, we can tell that the people behind it have some trading experience. Some of the features are enticing, such as the maximum acceptable leverage. Other features make us question every aspect of the platform.

These include claims of offering deposit insurance and guarantee to protect deposits. Unfortunately, most current members face uncertainty as the platform fails to meet these promises. In addition, the current crop of members doesn’t have access to their funds.

We should blame the platform as it doesn’t even contact members to explain why. When members try to reach out, the platform moves quickly to delete their accounts. Soon, those members with large deposits will have no access to funds.

There’s more than meets the eye with the enticing trading platform. Unfortunately, even the platform’s additional benefits are well-laid traps. The platform wants to rip off investors before shutting down.

Experts recommend researching on a platform before committing yourself. Try and find out what makes the platform ideal for your trading. Reach out to the trading community regarding traders’ experience on the platform.

You can also reach out to us and request a review of the platform on your behalf. We would be happy to oblige.

Accounts Win ICoin

Win ICoin provides three distinctive account types to investors. These include Start, Progressive, and Premium. Each of these accounts comes with a different set of features. As a result, the platform targets all classes of investors, from beginners to experts.

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Here’s a closer look at each of these accounts;

Start

The platform claims it’s the best for beginner investors and traders for the start account. You have to fund the account with a minimum of $5,000. The account comes with a maximum leverage of 1:20 and an instant execution style of trading.

Progressive

Seen as the account for the more skilled trader, you have to make a minimum deposit of$10,000. The set leverage is 1:50, with investors getting a promise of deposit insurance. Unfortunately, there’s no quote on spreads available for the trading instruments.

Premium

It’s the most exclusive account with investors targeting experts and institutional accounts. You have to make a minimum deposit of $20,000 to get started. The leverage is 1:100, with members getting crypto and forex metals for trading instruments.

Account Types Win ICoin

Account features

One of the critical issues we have to mention is the insane deposit requirement. The industry sets €$250 as the acceptable minimum deposit. There are even regulated platforms that ask for as low as $1.

Another issue with the platform is the mute trading features for forex assets. As a trader, you would like to know what you’re getting into. For example, instruments need quotes on order execution types and spreads.

For the trader on winicoin.com, you have to sign up blindly. The only interesting fact is the use of sufficient leverage. In the forex world, regulators put 1:100 as the maximum acceptable leverage for assets.

There are no demo account members can use to try and test the platform’s results. And this gives rise to more questions. Any legit trading platform should offer a demo account integrated with the trading terminal.

Speaking of trading terminals, the platform uses a custom-made trading platform. Experts recommend using established trading platforms such as MT4, MT5, and SIRIX. However, custom-built trading platforms are often unstable.

Are funds safe with Win ICoin?

Your funds are far from safe, with a platform failing to segregate accounts. In addition, the platform doesn’t offer any legit security cover to protect investors. For example, there’s no DDoS protection or SSL encryption to protect against third-party attacks.

The platform’s owner holds all funds in a single account. Therefore, it’s risky that the owner may decide to shut down the platform. Unfortunately, there’s no one to protect members in such a scenario without any regulatory oversight.

WinICoin also fails to offer insurance cover for deposits made by clients. Despite claiming so in their account feature, it’s not the case. As a result, most traders failed to get back a penny even after having a substantial balance.

The platform also fails to deposit the required amount with regulators to start a trading business. These funds are what regulators use to guarantee safety for clients. In bankruptcy or insolvency, no member will get any compensation.

CONSOB Regulator Warning Win ICoin

Assets and trading instruments Win ICoin

The platform only offers two trading assets, commodities and crypto. The commodities seen on all accounts are metals. There’s no forex trading in terms of actual forex. So members don’t get to spread risks with forex assets such as major and minor pairs.

Cryptocurrency is a volatile market, making sense to invest in it. The platform avails a few known crypto assets. These include Bitcoin, DOGE, Ethereum, Litecoin, and Ripple. The platform pairs these coins against each other.

Indices and stock trading are missing from the platform. And that limits investors from spreading their risks. We feel that the platform fell short regarding available trading instruments. Investors and traders need to have a barrage of trading assets.

Business holder Win ICoin

No one knows the actual owner or parent company that operates the platform. And that makes investing with the platform a hard sell for us. We don’t indulge in anonymous platforms and won’t recommend it.

There’s no way of recovering funds from such a platform. Those who hire recovery agents end up losing more funds. These agents don’t have the power to freeze bank accounts belonging to the platform.

Client contact and support

After depositing funds, all communication avenues get blocked by the platform. However, before that, the platform will send a few emails and attempt to convince you to deposit. In some cases, the platform will even call you.

Client Testimony Win ICoin

Are funds safe with winicoin.com? NO

Hundreds of clients are crying foul after the platform blocked withdrawal. These clients vent their anger on social media and trading forums. It’s sad to see some members who lost over $10,000 with the platform.

Closing remarks winicoin.com

Please stay away from wincoin.com

PS: Forex trading requires smart decisions from reliable forex trading robots. It’s the best way to learn how to trade in the forex world.

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