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CoinBrokerz – Is coinbrokerz.com scam or good forex broker?
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CoinBrokerz is a CFD broker focused on crypto instruments, which on first glance looks like a crypto currency exchange. We should note that there is a fundamental difference between buying an asset like a crypto coin and making a bet with a Contract for Difference – the kind of service CoinBrokerz provides. For more information you may check our article on the subject:
|Account type||Min. deposit||Max. leverage||Spread s|
CoinBrokerz offers CFD trade with all major crypto coins, including Cardio, Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Ethereum Classic, Dash, Litecoin, Monero, NEO, Qtum, TRON, Stellar, Ripple, Zcash, IOTA, EOS. They also offer 24 cross crypto pairs, but no forex pairs or other CFDs so here you may check our list of brokers, offering forex trade as well as Bitcoin CFDs:
Lack of regulation
CoinBrokerz is owned and operated by Qossla Holdings Limited, a subsidiary of Bitcom Limited, registered on St. Vincent and the Grenadines. The company, however, does not have a license to operate as a CFD broker.
The Financial Services Authority of St. Vincent and the Grenadines (FSA) recently warned in a statement that it “does not issue any licenses for forex trading or brokerage or binary options trading nor does it regulate, monitor, supervise or license international companies, which engage in such activities“.
In addition, the FSA warns that “there are financial institutions that falsely claim they are registered or licensed by the institution and that their purpose for doing this is more than likely for illicit reasons“. What is worse, the Financial Conduct Authority (FCA) in the UK has blacklisted Coinbrokerz, warning investors that it may run an investment scam.
Trading with properly licensed brokers is crucial for the safety of any investment. Well established financial institutions like UK’s FCA, the Cyprus Securities and Exchange Commission (CySEC), the Australian Securities and Investments Commission (ASIC) have to abide by strict financial and ethical rules. They have to maintain certain level of operational capital and to keep all clients funds in a segregated, protected form creditors account. In some cases brokers are even obliged to insure traders capital.
FCA and CySEC brokers for example have to participate in client compensation schemes. Under the FCA backed Financial Services Compensation Scheme, in case something goes wrong, traders can receive up to 50 000 GBP of their capital back. A similar CySEC backed insurance mechanism, guarantees compensation of up to 20 000 EUR. Here you can check our list of FCA brokers:
Despite the variety of crypto pair CFDs with relatively good spreads, CoinBrokerz remains an unregulated offshore broker and that is a major setback.
FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.
XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.
FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.
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FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.
FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.
FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.
HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.
Traders` reviews for CoinBrokerz
Coin brokerz the scammers
I funded my account and they promise that the manager will call me but until today they never called me, I funded my account on December 2020. I called and send emails but they ignore all that. I’m asking for help, any good sammaritan who can help me to get my money back, I will appreciate such help. i’m not working I lent that money hoping to returned it soon, since they promised me to make profit. Please help.
Tried to find them on internet and couldn’t which means they are not operating under those name. EXCELLENT. Their emails are not recognised or valid any more either! I know a lot of people got scammed by them and whether any of us will recoup our losses is a big question, personally I doubt it. If any of you think of employing agencies who promise to get your money back for a fee up front, think again as you will be entering yet another scam and lose some more money in the process. I hope the Fraud Squads gets them eventually.
coin brokerz have taking all my money .what can i do please help me i have a big family and they dont know what has happened. i cant pay my bills i am in big troble what can i do please help.
Moj nazor je to len lГЎkadlo na peniaze.Prva investГcia 300eur a dalЕЎia 500eur s
Translated by Google:
My insight is just a temptation for money. The first investment 300eur and another 500eur with the fact that the money make money.After less than 3 months they stopped trading and it was necessary to pay the tax on the sum and the month charge for changing the cryptomena to the euro together about 2500euro. If I pay it off, they will sell my invoice to the stock market . I have all paid and within 3 days I have to pay my money for the account, I have not paid anything back or paid yet . It’s one big scam I’m disappointed to whom I have to turn around.
Hello Mr. Niessen,
I have new information from the Bank regarding the withdrawal.
After the money transfer was initiated in the morning, they money left the account, then the money control of UK have declined the transfer and now the money are back in the Prime Media Coinbrokerz bank account.
Check the proof of transfer history attached below.
I will not try to find out what was the reason the transfer to be cancelled.
I will get back to you within an hour. I am in contact with a person from the UK Government regarding the matter.
Hello Mr. NIessen,
I have act immediately and had a meeting with the CEO regarding the guarantee letter.
He signed and stamped it and it is attached below.
Also I have attached one more time the Bank Details of Kalvea to process the payment of 22391 Euros.
Good Morning Mr. Niessen,
I am still out of the office on a meeting, but soon I will be there and I will immediately call you!
Everything on your account is there, the commission is paid in full.
The information was send to the UK Govenrment, Postbank is informed, we wait for the receipt for the outgoing transfer.
After my call, an emplyee of Postbank will contact you directly for the transfer to your ING Account.
Dear Mr M. Mayer, M. Mcfee,
I just opened your mail from the 13th of november Coinbrokerz/mr Mayer. I never had thought that Coinbrokerz would contact me again after my account was minimized till nearly zero!
Thanks that you didnвЂ™t forgot me, CoinbrokerZ still sees me as one of his clients, one of your best clients, I once was I presume, still a client. Coinbrokerz received more then the required commission. My whole investment plus the в‚¬657427,08 profit. Despite the fact that I invested with Coinbrokerz, about в‚¬135000 and having paid nearly в‚¬60.000 fee/commission or whatever you name it,paid all Coinbrokerz was asking, while no more commission needed to be paid by me, the price mentioned in the fraud HMRC information letter well known by Coinbrokerz. the only price to be paid by me of course being paid by me and you know what I never saw one penny paid back of the profit Coinbrokerz/Mr M. Mayer made for me, not even my personal investment Coinbrokerz paid me back, didnвЂ™t transfer it to my personal ING-account. Coinbrokerz be aware that, I say it again, that you are holding back my personal investment/the profit for which I paid more then the necessary commission, fee or whatever you call it. Coinbrokerz has no legal rights to hold this up.
Furthermore I find it very strange that Coinbrokerz made also beside my address all the emailaddresses of all the other valued clients public in this mail from the 13th of november!
IвЂ™m very pleased to hear that CoinbrokerZ, as they stated again here, always acts in the very best interest of their clients, that Coinbrokerz is, I quote: вЂњalways very hard at work protecting the accounts of their clients and the security of the information of their clients stated again by Mr Mayer, here below.
Personal I think we should come to a compromise, I will explain you why?
Their had to be paid a certain percentage of commission for the services CoinbrokerZ/my personal accountmanager Mr Mayer made paying commission depending on the profit which Coinbrokerz/Mr Mayer made, nothing more then that. I have never found another requirement within Coinbrokerz requirements which said otherwise. I paid the commission even more then that and still no return!
When IвЂ™m right then Coinbrokerz is saying that they always acts in the best interest of their clients.
Is it a fact that CoinbrokerZ act in the best interest of their clients, thatвЂ™s the question?
Again IвЂ™m asking Coinbrokerz what did you do with my profit/investment? I have the right to know to which account Coinbrokerz transfered my investment/profit to. What happened with the Profit which Coinbrokerz/Mr M. Mayer realized with my investment? To which account itвЂ™s transfered to?
Last but not least I get more and more the feeling that Mr S. Mayer is a not excisting person. To start with the fact that the so called Protection payment letter of the Postbank the backname Maier was used instead of Mayer. Can you imagine that you donвЂ™t know how to write your backname correctly in an official document? The alligations Coinbrokerz put on the table against this man after Coinbrokerz has realized that Mr Niessen stopped paying anymore. At once he was jailed according to Coinbrokerz/Mr M. Mayer. Last but not least itвЂ™s a fact that вЂњthis manвЂќ is not known within the Financial sector, the very big unknown for the Deutsche Postbank and eventualy even Coinbrokerz started denying, knowing him well at the end of the ride!
Also the fact that just a few weeks ago I received a so called mail from the Deutsche Postbank, using a mailadress ending up at вЂњpostbank.comвЂќ which isnвЂ™t an official mailadress of that Bank. They uses вЂњpostbank.deвЂќ. More importantly was that in that mail the exact amount of money was mentioned which IвЂ™ve invested, paid for commissions, fees etc., the в‚¬193000! trying to get more out of it. This time the name of Arthur Schultz was used. Scripts/letter the same lay-out of the Deutsche Postbank as was used earlier in time by the doubtfull Mr S. Mayer. Of course fraud documents again according to the Deutsche Postbank.
Only Coinbrokerz and myself have that insight information, the information how much I invested, how much I paid for commission, etc.? This raises questions again. Besides the fact how bad Coinbrokerz kept herself in my case to their own compliance-rules It raises also the question how well my information was/still is secured by Coinbrokerz, how well is my account protected by Coinbrokerz.
Hopefully tCoinbrokerz is realizing now that accepting a compromise with mr P. Niessen isnвЂ™t such a bad deal after all.
The only thing IвЂ™m asking is to transfer my personal investment back to my personal ING-account.
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We believe this firm has been providing financial services or products in the UK without our authorisation. Find out why to be especially wary of dealing with this unauthorised firm and how to protect yourself from scammers.
Almost all firms and individuals offering, promoting or selling financial services or products in the UK have to be authorised by us.
However, some firms act without our authorisation and some knowingly run investment scams.
This firm is not authorised by us and is targeting people in the UK. Based upon information we hold, we believe it is carrying on regulated activities which require authorisation.
Address: 25 Cabot Square, London, E14 4QA
25 Cabot Square, 1 Canada Square, Canary Wharf, London E14 5AB
Qossla Holdings Limited, Dladstonos 116, Limassol 3032, Cyprus. Qossla Holdings Limited is subsidiary of Bitcom Limited, Suite 305, Griffith Corporate Center, Kingstown St. Vincent and the Grenadines.
Telephone: 0208 089 2038, 0208 089 2083, 0203 917 4268, 0208 089 4181, 0203 807 5524
Website: www.coinbrokerz.com; www.coinbrokerz.io
How to protect yourself
We strongly advise you to only deal with financial firms that are authorised by us, and check the Financial Services Register to ensure they are. It has information on firms and individuals that are, or have been, regulated by us.
If you want to check a consumer credit firm that may not yet have been authorised by us, please also check the Interim Permission Register.
If a firm does not appear on the Register but claims it does, contact our Consumer Helpline on 0800 111 6768.
There are more steps you should take to avoid scams and unauthorised firms.
You should also be aware that if you give money to an unauthorised firm, you will not be covered by the Financial Ombudsman Service or Financial Services Compensation Scheme (FSCS) if things go wrong.
Report an unauthorised firm
If you think you have been approached by an unauthorised firm or contacted about a scam, you should contact our Consumer Helpline on 0800 111 6768. If you were offered, bought or sold shares, you can use our reporting form.
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