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Coin-Financial Revieew - is it scam or safe?

Coin-Financial Review - is coin-financial.com scam or good binary options broker?

RATING: 1 / 1 REVIEWS Coin-Financial
Coin-Financial is an offshore broker. Your money is not safe.

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Trading Accounts and Conditions

 

Trading account  Min. deposit Min./Max bet size Payout
Beginner  $250 $25 up to 81%
Intermediate  $1 000 $25 up to 81%
Pro  $10 000 $25 up to 81%
Expert  $50 000 $25 up to 81%

  

Coin-Financial presents itself as “the best cryptocurrency trading experience”, providing services in 99% countries around the globe. Once you sign up with them, you are offered the above account types and it becomes clear that the broker actually offers trading in binary options, with a focus on cryptocurrencies. However, important parts of its offer remain unclear.

 

 

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Apart from their account types and trading conditions, we have serious concerns about this broker and the details will be highlighted below in this review.

 

 

Coin-Financial Advantages

 

Honestly, we could not think of a single strong side of this broker – its website is a mess and there are too many uncertainties, including the platform it uses.

 

 

Coin-Financial Disadvantages

 

Inconsistent information on website. No financial regulation

Coin-Financial’s website claims that the broker holds “essential licenses” and mentions registration in the UK. Our research on the matter revealed that the registration number provided belongs to Coin-Financial Limited. However, the Terms and Conditions uploaded on the broker’s website feature as governing law this of the Isle of Man.

 

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Now, a simple registration in the UK is not equal to a legit license, and our check in the register of the Gambling Supervision Commission confirmed that Coin-Financial is not authorized by the authorities of the isle of Man as well. 

 

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So, the broker is not subject to any regulatory oversight, which means that its clients are quite vulnerable, because there is no authority to which to turn to in case of fraud. And fraud happens quite often in the trading world.

 

That being said, Coin-Financial is not entitled to operate on any regulated market, including the European Union and UK. We would also like to remind you that binary options are banned in many jurisdictions for investor protection concerns. Last year binaries were prohibited across the EU by the Pan-European regulator, ESMA.

 

Blacklisted by France’s AMF

Besides, we found out that the supervisory authority of France, Authorité des Marchés Financiers has included Coin-Financial in its list of unauthorised online investment offering or providing services in France for derivatives whose underlying assets include cryptocurrencies. This is another major flag regarding this broker.

 

 

A lot of uncertainties. No demo, not freely open for registration

As we already mentioned, this broker is not clear about the nature of its services. The account types and payouts are visible only after sign up, and registrants don’t know trading platform Coin-Financial uses. We always view the lack of transparency regarding a broker’s services as a huge negative.

 

Also, one cannot register a demo account with the broker and test its services for free, and we couldn’t sign up for a live account either. We kept seeing this message for days:

 

 

Click on the image to zoom in.

 

Another thing that makes us almost certain Coin-Financial is a scam is that the broker’s service is not freely open for registration. Of course, there is no free testing service either, but the fact that one cannot simply sigh up for a live trading account is quite odd.

 

Announced payouts not that high

Payouts with Coin-Financial allegedly reach 81%, if an option expires in-the-money. Such percentage is actually not that high, as most brokers offer at least 83% in payouts on EUR/USD.

 

 

Conclusion

 

Although Coin-Financial’s offer is not clearly presented on its website, our investigation on the matter revealed that it is a binary options broker focusing on cryptocurrencies. Apart from the lack of transparency, our main concern with this broker is that it is not regulated. More importantly, Coin-Financial is blacklisted by the France’s AMF for illegally targeting local investors.

 

As always, we advise investors to deal only with licensed brokers and to check whether the they are really regulated in the respective jurisdictions. Also, it is a good idea to do a due diligence check before you deposit and google the broker name to see whether there have been warnings against it or user complaints.

 

 

>> Check out a list of forex brokers licensed in the UK <<

 

 

Let’s sum up our recap of Coin-Financial

 

Pros Cons
Not any Inconsistent information on website. No financial regulation
  Blacklisted by France’s AMF
  A lot of uncertainties. No demo, not freely open for registration
  Announced payouts not that high

 

Latest news about Coin-Financial
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Traders` reviews for Coin-Financial

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Do not use Coin-Financial!

This website STOLE my personal address!! I don't have anything to do with them, but now it seems they said their offices are at my flat?!? I can assure you they're not!! Also, you have to be wary of a company that has a UK address, but a French(?) phone number! Have tried getting in touch, but its a scam, remember. So why would they get back to me?! What is worse, neither have the AMF - the French regulator.

Not much fun at all...

Jon Smith 07/18/2019
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