Coinivate Broker Review

Coinivate

A regulator warning has been issued by Canadian authorities against Coinivate in September 2023

If you are looking for a reliable and trustworthy online broker, you might have come across Coinivate. Coinivate is a new broker that claims to offer a variety of trading instruments, such as forex, stocks, commodities, indices, and cryptocurrencies. But is Coinivate a legit broker or a scam? In this review, we will examine the features, advantages, and disadvantages of Coinivate and help you decide if it is worth your time and money.

What is Coinivate?

Coinivate is an online broker that was launched in 2021. It is owned and operated by Coinivate Ltd, a company registered in St. Vincent and the Grenadines. Coinivate claims to be regulated by the Financial Services Authority (FSA) of St. Vincent and the Grenadines, but there is no evidence to verify this claim. Coinivate offers four types of trading accounts: Basic, Silver, Gold, and Platinum. The minimum deposit required to open an account is $250. Coinivate provides access to over 200 trading instruments, including forex pairs, stocks, commodities, indices, and cryptocurrencies. Coinivate also offers a web-based trading platform, as well as mobile apps for Android and iOS devices.

What are the advantages of Coinivate?

  • A wide range of trading instruments to choose from
  • A user-friendly and intuitive trading platform
  • Competitive spreads and commissions
  • Multiple payment methods, including credit cards, debit cards, wire transfer, Skrill, Neteller, and Bitcoin
  • A dedicated customer support team available 24/7 via phone, email, and live chat
  • Educational resources and market analysis for traders of all levels
  • A generous welcome bonus of up to 100% on the first deposit

What are the disadvantages of Coinivate?

  • Lack of regulation and transparency
  • High minimum deposit requirement
  • Limited account types and trading tools
  • No demo account or free trial
  • No MetaTrader 4 or MetaTrader 5 platforms
  • Potential withdrawal fees and delays

Is Coinivate a legit broker or a scam?

Based on our research and analysis, we cannot recommend Coinivate as a legit broker. There are several red flags that indicate that Coinivate might be a scam or at least a very risky broker. These include:

  • The lack of regulation and licensing from a reputable authority. The FSA of St. Vincent and the Grenadines is not a reliable regulator and does not provide adequate protection or oversight for traders.
  • The lack of information and transparency about the company’s background, ownership, location, and contact details. The website does not provide any verifiable information about the company’s history, team, or address.
  • The high minimum deposit requirement and the limited account types. $250 is a relatively high amount to start trading with, especially for beginners or low-budget traders. The account types do not offer much difference in terms of features or benefits.
  • The absence of a demo account or a free trial. A demo account is essential for testing the broker’s services, platform, and performance before risking real money. A free trial is also a good way to evaluate the broker’s customer service and support.
  • The lack of MetaTrader 4 or MetaTrader 5 platforms. These are the most popular and widely used trading platforms in the industry, offering advanced tools, indicators, charts, and automated trading options. Coinivate’s web-based platform is inferior in comparison.
  • The potential withdrawal fees and delays. Some online reviews and complaints suggest that Coinivate charges hidden fees for withdrawals and makes it difficult or impossible for traders to withdraw their funds.

Conclusion

Coinivate is a new online broker that offers a variety of trading instruments, but it also comes with many risks and drawbacks. We do not recommend Coinivate as a legit broker because it lacks regulation, transparency, credibility, and customer satisfaction. There are many other brokers that are more reputable, regulated, and reliable than Coinivate. Therefore, we advise you to avoid Coinivate and look for other alternatives.

What to Do If You’ve Lost Money with Coinivate?

If you have been scammed by Coinivate 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.


Best Website For Identifying Scam Crypto Brokers.

File Your Crypto Cointrace Now !