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Coins Wealth Invest (coinswealthinvest.org) is without a doubt a %100 fraudulent brokerage firm. It is NOT a real broker! Stay away! Coin Wealth Invest scam works by getting you to believe you can become rich by trading with them.
Coins Wealth Invest Review
Everyone knows that the internet is a hotbed for scams, yet you can read stories about people falling for one scheme or the next. The same applies in the financial markets, where online trading and forex brokerage scams are common, but you will find people becoming victims day after day. Why is this so? This is due to the fact that these criminals have improved their tactics and strategies. Gone are the days when you could identify a scam just by looking at their website, given that it used to be poorly designed. You will see in this Coins Wealth Invest review just how good they have gotten at presenting a false front.
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Instead of making this decision without thoroughly evaluating a brokerage, it is best to dedicate some time and look into their offerings carefully. It might take some effort, but it gives you peace of mind that you have opted for a brokerage that can deliver the kind of experience you are looking for. Moreover, it also enables you to focus on your trading rather than worrying about getting scammed. This approach will work wonders in the case of Coins Wealth Invest because it comes off as a fun and interactive brokerage that has everything going for it.
The Coins Wealth Invest website is quite impressive and offers you a chance to trade forex pairs, oil, gold, indices and crypto pairs with a powerful trading platform. That sounds like quite an offer, but when you evaluate the offerings, you will find plenty of warning signs that you cannot ignore. What are they? You can go over them below.
Lack of regulation
If there is one warning sign that you cannot ignore about an online brokerage, it is their lack of regulation. A brokerage needs to be licensed and regulated in the region it is operating in and this is obtained from the respective regulatory body. This license is usually granted after a certain criteria is met and the companies are also required to comply with laws and rules. This can help them in establishing credibility and reassure traders that they are not being scammed. A genuine company would never have a problem in getting a license because they have nothing to hide.
But, a fraudulent one will not get a license because it will reveal their true colors. The same seems to be the case with Coins Wealth Invest because it is not licensed and regulated anywhere. You will find that it claims to be based in Saint Vincent and the Grenadines and authorized by the Financial Services Authority (FSA) there. The issue is that this is an offshore jurisdiction that has a reputation of being a scam haven. Furthermore, the second claim about being regulated by the FSA is completely bogus. Why?
This is due to the fact that the FSA in SVG has issued a notice announcing that they do not regulate the forex industry. It means there is no oversight for the space and the brokers are not supervised, which has drawn a lot of scammers to the region. Thus, when it comes to Coins Wealth Invest, you are dealing with an unlicensed and unregulated broker trying to fool you, so you have to be careful.
No trading platform
You are promised an advanced trading platform at Coins Wealth Invest and this will catch your eye because this is one of the most important features that an online broker offers. It is also key to your overall trading experience, so you need to evaluate it in order to ensure it can get the job done. Otherwise, your trading experience can prove to be difficult and you will not get the results you are hoping for. You are in for disappointment when you check out the trading platform that Coins Wealth Invest is offering.
This is because there is no advanced trading platform, as advertised. Instead, the Coins Wealth Invest website has some funny-looking dashboard, which is meant to resemble a trading platform. The problem is that it is not functional at all. The dashboard just shows you prices of a bunch of trading instruments and gives you the option of making a deposit. There is no other option available, specifically for trading, which makes it evident that Coins Wealth Invest is only after your money and nothing more.
Issues with minimum deposit and payment methods
Some of the other warning signs that you will come across at Coins Wealth Invest include the minimum deposit that the brokerage is demanding. When you take a look at the account options it offers, you will find that the most basic account requires a deposit of a whopping $5,000. This is just too much because the average deposit amount is around $250 for most brokers. In fact, most of them have waived off minimum deposits these days because they want to attract more clients on their platform.
Scammers, on the other hand, ask for a bigger deposit because they know that their chances of getting more are very low. In addition, a look at the payment methods that are supported at Coins Wealth Invest shows you another warning sign because they only accept crypto deposits. You can only make payments in bitcoin and USDT Tether. The problem with crypto payments is that they are final and cannot be reversed because they do not qualify for a chargeback. This means you can get no refunds and the payments are also anonymous.
Considering these warning signs that you will find at Coins Wealth Invest, it is easy to see that the brokerage is a sham and you need to avoid it completely.