If you are looking for a reliable and trustworthy broker to invest your money in the cryptocurrency market, you might have come across Coin Wealth Invest. This broker claims to offer a variety of services and features, such as low fees, high leverage, fast execution, and access to multiple coins and platforms. But are they really as good as they sound, or are they a scam that will rip you off?
In this blog post, we will review Coin Wealth Invest and examine their background, reputation, regulation, trading conditions, customer support, and security. We will also compare them with some of the best brokers in the industry and give you our honest opinion on whether you should trade with them or not.
Background and reputation
Coin Wealth Invest is a relatively new broker that was established in 2021. According to their website, they are based in London, UK, and have offices in Hong Kong, Singapore, and Dubai. They claim to have over 50,000 clients worldwide and to process over $1 billion in trading volume per month.
However, there is very little information available about their company history, ownership, or team. Their website does not provide any details about their registration number, address, or contact information. They also do not have any social media presence or online reviews from other traders. This raises some red flags about their credibility and transparency.
Regulation and security
One of the most important factors to consider when choosing a broker is their regulation and security. A regulated broker is subject to the rules and oversight of a reputable financial authority, such as the FCA in the UK or the ASIC in Australia. This ensures that they comply with high standards of conduct, protection, and fairness for their clients.
A regulated broker also keeps their clients’ funds in segregated accounts at reputable banks, which means that they cannot use them for their own purposes or mix them with their own money. They also provide compensation schemes that cover their clients in case of insolvency or fraud.
Unfortunately, Coin Wealth Invest is not regulated by any authority. They do not have a license to operate in any jurisdiction, which means that they are operating illegally and without any supervision. This exposes their clients to a high risk of losing their money or being scammed.
Moreover, Coin Wealth Invest does not provide any information about their security measures or encryption protocols. They do not mention how they protect their clients’ personal and financial data from hackers or identity thieves. They also do not offer any insurance or guarantees for their clients’ funds.
Trading conditions and platforms
Coin Wealth Invest claims to offer competitive trading conditions and platforms for their clients. They claim to offer low spreads, high leverage, fast execution, and no commissions or hidden fees. They also claim to offer access to over 100 coins and tokens, as well as multiple trading platforms, such as MetaTrader 4, MetaTrader 5, WebTrader, and MobileTrader.
However, these claims are not backed by any evidence or verification. Coin Wealth Invest does not provide any live or demo accounts for their clients to test their services or platforms. They also do not provide any trading tools or educational resources for their clients to improve their skills or knowledge.
Furthermore, Coin Wealth Invest’s trading conditions and platforms are not as good as they claim. Their spreads are actually very high compared to other brokers, ranging from 3 to 10 pips for major pairs. Their leverage is also very risky, reaching up to 1:5000 for some assets. This can amplify your losses as well as your profits and expose you to margin calls or liquidation.
Additionally, Coin Wealth Invest’s platforms are outdated and unreliable. MetaTrader 4 and MetaTrader 5 are no longer supported by most brokers and developers, which means that they may not have the latest features or updates. WebTrader and MobileTrader are also poorly designed and lack functionality and usability.
Coin Wealth Invest claims to offer 24/7 customer support via phone, email, live chat, and WhatsApp. They claim to have a professional and friendly team that can assist their clients with any issues or questions they may have.
However, this is another false claim by Coin Wealth Invest. Their customer support is actually very poor and unresponsive. Their phone number does not work or is always busy. Their email address does not reply or sends automated messages. Their live chat and WhatsApp are also offline or unavailable most of the time.
Moreover, Coin Wealth Invest’s customer support is rude and aggressive when they do respond. They pressure their clients to deposit more money or upgrade their accounts. They also refuse to process withdrawal requests or close accounts. They even threaten or harass their clients who complain or ask for refunds.
Coin Wealth Invest is a scam broker that should be avoided at all costs. They are not regulated by any authority and operate illegally and without any transparency. They offer poor trading conditions and platforms that are designed to make you lose money. They also have terrible customer support that will not help you or respect you.
There are many better and safer brokers in the market that you can choose from. We recommend that you do your own research and check the reviews and ratings of other traders before you sign up with any broker. You should also look for brokers that are regulated by reputable authorities, offer fair and competitive trading conditions and platforms, and provide excellent customer support and education.
Do not fall for Coin Wealth Invest’s scam and do not risk your money with them. You deserve better and you can find better.
What to Do If You’ve Lost Money with Coin Wealth Invest?
If you have been scammed by Coin Wealth Invest or any other broker, you’ll want to seek assistance from cryptocointrace.com immediately. Our experts will consult with you and bolster your claim to help you get your money back. Cryptocointrace.com is a leader in recovering your funds and will help you retrieve your funds from a broker scam.