Warning Investors Coinbed FX Trader – Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements
Introduction To Coinbed FX Trader:
Coinbed FX Trader is a website that claims to provide access to various financial markets, such as forex, commodities, indices, stocks, and cryptocurrencies. It also claims to offer low spreads, high leverage, fast execution, and multiple payment methods. The website does not provide any information about the company behind the platform, its location, or its regulatory status. It only provides a phone number and an email address for contact.
Regulation and Compliance Of Coinbed FX Trader:
According to the ASC, Coinbed FX Trader is not registered or authorized to operate in Alberta or any other Canadian province. This means that it does not comply with the securities laws and regulations that protect investors from fraud and misconduct. The ASC warns that investing with unregistered platforms exposes investors to high risks of losing their money and having no recourse. The ASC also advises investors to check the registration status of any platform or person they deal with before investing.
Customer Support Offered By Coinbed FX Trader:
The only way to contact Coinbed FX Trader is through a phone number or an email address provided on the website. There is no live chat, no physical address, and no social media presence. The website does not provide any information about customer support hours, languages, or policies. The quality and reliability of customer support are unknown and questionable.
Customer Reviews Of Coinbed FX Trader:
There are very few customer reviews of Coinbed FX Trader online, and most of them are negative. Some customers complain that they have been scammed by the platform, that they have not received their withdrawals, that they have been pressured to deposit more money, and that they have been ignored by customer support. Some customers also warn others to stay away from this platform and report it to the authorities.
Measures To Avoid Fraud Brokerages:
To avoid falling victim to fraud brokerages like Coinbed FX Trader, investors should always do their research before investing. They should check the registration status of the platform or person they deal with, verify their identity and location, read their terms and conditions, and look for customer reviews and feedback. They should also be wary of unrealistic promises, high-pressure tactics, and unsolicited offers. They should never invest more than they can afford to lose and always keep their personal and financial information secure.
Conclusion:
Coinbed FX Trader is an unregistered and unauthorized platform that claims to offer forex and crypto trading services. The ASC has issued a warning about this platform, as it poses high risks of fraud and misconduct to investors. Investors should avoid this platform and report any suspicious activity to the ASC or other relevant authorities.
