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CoinFlux Trades Review (cft-innovationmarkets.online) FRAUD EXPOSED – CoinFlux Trades Scam Broker



Sep 16, 2023

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CoinFlux Trades (cft-innovationmarkets.online)
These disturbing aspects and details that you uncover about CoinFlux Trades make it apparent that you are dealing with a clear scam.
Broker Rating

CoinFlux Trades (cft-innovationmarkets.online) is without a doubt a %100 fraudulent brokerage firm. It is NOT a real broker! Stay away! CoinFluxTrades scam works by getting you to believe you can become rich by trading with them.

CoinFlux Trades Review

The popularity of cryptocurrencies has drawn the attention of many people all over the world and even skeptics are trying their luck to see if they can make profits. Online trading has made it easy for everyone to give it a shot, so it is not surprising that crypto scams have also risen exponentially.

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One of the most common scams these days involve fraudulent brokerages that convince people to open an account with them and con them out of their funds. This CoinFlux Trades review is an example of such a brokerage, one that you need to avoid when you decide to trade crypto CFDs.

The problem is that it is easier said than done because the first look at these brokerages does not really reveal the truth. As a matter of fact, most of them are quite similar to legitimate online brokers, which adds to the challenge. A lot of people have fallen in this trap because they thought there would be some clear indications that would help them identify the scams, but there is no such thing. Nonetheless, this does not mean that it is impossible. It is quite possible for you to distinguish between genuine and fraudulent crypto trading solutions. How?

CoinFlux Trades website

It requires some effort on your part and a bit of time because you need to check the ins and outs of a brokerage before you sign up on their platform. As long as their claims check out, you can proceed, but if there are any disturbing aspects that you uncover, then you can drop them altogether.

Unfortunately, you will find that CoinFlux Trades belongs to the latter category, even though it tries to convince you of its authenticity. Presented as an Australian brokerage, CoinFlux Trades claims to specialize in crypto CFDs, even though it states that other assets are also available like forex, shares, indices and commodities.

Some of the other offerings of CoinFlux Trades include the top two trading platforms i.e. the MT4 and MT5 and good trading conditions. However, when you try to check the facts, a different picture emerges, which is quite disturbing. What is it? Check it out below.

False claims of licensing

When you check out the CoinFlux Trades website, you will be impressed to note that it claims to be registered and authorized in Australia by the Australian Securities and Investment Commission (ASIC), which is one of the most vigilant regulatory authorities in the world. But, you will learn quickly enough that this is a false claim because CoinFlux Trades is breaking a number of rules that the ASIC has outlined for brokerages, such as the leverage ratios it is offering.

You can check the online register of the ASIC for CoinFlux Trades and not find its name there, which is all the confirmation you need about the false claim. In addition, you will find that the address that CoinFlux Trades has listed on its website shows that its offices are in the UK, which is likely another false claim.

This is because it can only operate in the UK if it has a license from the FCA, which it does not. You can check the FCA’s register for confirmation and again, the leverage ratios are not part of the regulatory framework, so it is also another sign.

No Terms and Conditions

It is already disturbing enough that CoinFlux Trades is lying about its licensing and regulation, but that is not the only disturbing aspect of this brokerage. You will find another when you try and search for its Terms and Conditions. These legal documents are essentially the contract you sign with the brokerage when you open an account with it, so it is necessary to go over them in order to know what you are agreeing to.

These legal documents outline the trading fees and other charges, along with any other policy the brokerage may have. Yet, you can scour through the entire CoinFlux Trades website and not find any legal documentation.

There are no Terms and Conditions, or any Client Agreement, which is not something a legitimate brokerage would ever lack. This indicates there is no transparency, which means CoinFlux Trades cannot be trusted because they can come up with any policy they like.

Demand for sensitive data

Another disturbing aspect that you will come across at CoinFlux Trades is when you try and access the trading platforms it has promised. If you want to check out the MT4 and the MT5 platforms, the brokerage will first demand that you verify your account. This means you have to share your sensitive identity documents and other personal details.

While KYC policies are usually implemented by most brokerages, they usually do that later after you have signed up and made your first trades with them. They do not use them as leverage for giving you access to features. Most importantly, legitimate brokers will usually offer you demo accounts without any demands to give you a firsthand look at what to expect. Meanwhile, CoinFlux Trades is doing the opposite, which shows that it is up to no good.

Excessive leverage

There is no shortage of disturbing details when you are going through the CoinFlux Trades website, as its leverage ratios are another issue. You will see in its presentation that the ratios that are promised go as high as 1:500 and this undoubtedly sounds attractive.

But, the problem with such a high leverage is that it increases your risk significantly. Therefore, regulatory bodies have introduced caps on leverage to be offered to retail traders, which includes the ASIC. Yet, CoinFlux Trades has chosen not to follow the rules, despite claiming to be regulated by the regulatory body.

Only crypto payments

Since it focuses on offering crypto CFDs, it should not be surprising that CoinFlux Trades only supports crypto deposits on its website. However, this does not mean that it is not disturbing because crypto payments cannot be reversed. They are final and do not qualify for a chargeback, which means you will get no refunds in case of any problems.

Final Thoughts

These disturbing aspects and details that you uncover about CoinFlux Trades make it apparent that you are dealing with a clear scam.

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