Cotextmarkets review – 5 things you should know about cotextmarkets.com!

Beware! Cotextmarkets is an offshore broker! Your investment may be at risk.

RECOMMENDED FOREX BROKERS

Visit Site

Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

Cotextmarkets is yet another investment scam – and you don’t have to take our word for it – the broker has been outed as a scam by the regulatory body of the UK – the FCA. But before we actually look at Cotextmarkets in a bit more detail, let’s establish what its business model actually is first. You see, Cotextmarkets advertises itself as a Forex broker dealing in CFDs – a completely normal and ordinary company. But the fact of the matter is that the broker is actually running an investment scam – it offers its clients the following investment plans:

These plans do not mention any return rates, but their short terms make us think that Cotextmarkets reaches out to its victims via cold calls and promises them incredible returns – if the broker reaches out to you like that, do not give it a dime. Remember, Cotextmarkets is a scam – and if you still don’t trust us, read on – the following review exposes all of the company’s failings:

Cotextmarkets regulation and safety of funds

Cotextmarkets is completely unregulated – in fact, it lies about holding a license with the FCA. Here is what Cotextmarkets has to say about its regulation:

It seems that Cotextmarkets claims it is owned by this Henyep Capital Markets – but a quick check with the database of the FCA – the UK regulatory body, revealed that to be a complete fabrication. Here is what the regulator has to say about Cotextmarkets:

It seems that Cotextmarkets has nothing to do with the supposed parent company – indeed, the broker is nothing more than what the FCA considers a “clone firm”. Such companies pretend to be their licensed peers to pass themselves as legitimate or piggyback off their brand recognition. But, ultimately, as is the case with Cotextmarkets, the brokers are running a scam.

If you wish to trade with a real UK broker, but are not certain where to find one, we suggest you check out this list of our top-rated companies in Britain – by trading with them you will also enjoy FCA-mandated protections for your funds like access to guarantee funds and a Negative Balance Protection policy, which unlicensed brokers like Cotextmarkets simply cannot provide you with!

Cotextmarkets trading software

Cotextmarkets does not provide trading – therefore, the broker does not have a conventional trading platform like Metatrader 5 available. The closest it gets to anything remotely akin to a platform is the following chart available to Cotextmarkets’ clients once they make an account:

It allows them to track the price of several crypto assets – but it does not really let them place any trades or do anything beyond that.

Cotextmarkets deposit and withdrawal methods and fees

Cotextmarkets accepts deposits via Bitcoin alone – this is yet another red flag. You see, such deposits are not eligible for any kind of chargeback – therefore, scammers like Cotextmarkets prefer them. Crypto payments are also virtually anonymous and allow for the fraudsters to maintain the scam for longer before getting shut down by the authorities. There is not a single word on Cotextmarkets’ withdrawal policies, but considering how shady the broker is, we do not think it is likely you will see any of your money again if you have deposited with Cotextmarkets!

How does the scam work?

It is completely undeniable that Cotextmarkets is running a scam – and what’s more, we have seen the exact pattern on display here unfold hundreds of times before. Here is how the scam usually goes down:

First off, someone stumbles upon the website the scammers are running, and is prompted to make an account, leaving a phone number in the process. Once the scammers have that, they start calling around the clock to demand deposits. No amount of money sates their greedy appetite and they only stop demanding more and more when their victim either runs out of funds or realizes they are being conned – at which point, the scammers cut them off and move on!

What to do when scammed?

Here is what you need to do to limit further losses if scammed:

Get whatever credit cards and forms of ID the scammers had access to reissued – and remove any remote control software from your PC.

Since you deposited with Cotextmarkets using crypto, a chargeback is going to be impossible – do not trust any recovery agency that tells you otherwise – it will demand an upfront payment for its services and scam you again!

Finally, consider leaving a comment with your experience with the scam in the section below – this will help raise awareness of the scam, which is the best way to combat it!