Beware! Coinswealthinvest.org is an offshore broker! Your investment may be at risk.
RECOMMENDED FOREX BROKERS
Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.
Coinswealthinvest.org, or Coins Wealth Invest, is trying to convince us that it would be a very good idea to use the services of this regulated and well-established investment firm. But experience has taught us not to accept such claims at face value.
Fact checking leaves no doubt that we are dealing with another online scam. Let’s take a detailed look at why you should stay away from Coinswealthinvest.org and how you could choose a suitable broker to invest through in the financial markets.
Coinswealthinvest.org Regulation and safety of funds
|Guaranteed Funds||Segregated Accounts||Negative balance protection|
|UK regulated brokers||£85 000||Yes||Yes|
|EU regulated brokers||€20 000||Yes||Yes|
|AU regulated brokers||No||Yes||Yes|
|US regulted brokers||Yes||Yes||No|
When you visit the website of a legitimate broker you can expect to find clear and detailed information about the company that owns and operates it, where it is based and what regulatory regimes it is subject to. Licensed financial services providers are also required to provide a comprehensive set of legal documentation.
Therefore, we cannot believe the claims of Coinswealthinvest.org that it has headquarters in the United Kingdom and offices in the United States, Australia and Canada. These are highly regulated jurisdictions in which an anonymous website such as Coinswealthinvest.org C could not legally operate as a forex broker.
The UK financial regulator confirms our judgement and warns investors not to trust Coinswealthinvest.org.
Before investing your money in financial instruments, it is imperative to make sure you do so through a licensed intermediary and not one of the many scammers lurking online.
If you want to trade on financial markets without being scammed, you can turn to some of the legitimate brokers that actually operate from established financial hubs like the UK. These brokers have to meet stringent requirements for financial stability and transparency of operations imposed by the Financial Conduct Authority (FCA).
They must provide clients with negative balance protection and to participate in a guarantee fund that covers up to GBP 85,000 of a client’s investment should the broker go into insolvency. These brokers are also required to keep their clients’ money segregated from their own operating funds in separate bank accounts.
Coinswealthinvest.org Trading software
|Analytical tools||Auto trading||Custom indicators||Mobile apps|
|MT4||30+ indicators||✅||✅||Android and iOS|
|MT5||50+ indicators||✅||✅||Android and iOS|
|cTrader||40+ indicators||✅||✅||Android and iOS|
One more obvious clue that Coinswealthinvest.org is a scam is the fact that this alleged broker has no trading software. Not only does Coinswealthinvest.org not have a licence, but it also does not have the technical capacity to offer the services it claims.
If you use the services of a licensed broker, you will get the opportunity to use established software with advanced features and versions for all types of devices and operating systems. The most widely used trading platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
These platforms have established themselves as industry standard because they offer a wide range of features, including a variety of options for customization, multiple account usage, designing and implementing custom scripts for automated trading and backtesting trade strategies.
Coinswealthinvest.org Trading instruments
If the evidence that Coinswealthinvest.org is not a UK-based broker is not enough, the website provides yet another. Coinswealthinvest.org claims to offer cryptocurrency trading alongside forex, commodities, equities and indices. But the FCA prohibits trading in crypto derivatives.
Coinswealthinvest.org Spreads and cost of trading
Genuine forex brokers provide detailed information about the trading conditions. Legitimate companies also offer different account types to suit clients with different experience, capital and investment intentions.
Instead, Coinswealthinvest.org offers a range of investment plans. Rather than details of basic trading parameters, their descriptions include only promises of safe and quick profits.
A genuine broker will not and cannot promise you guaranteed profits. In fact, licensed companies are obliged by regulators to warn their clients about the high risk of losses when trading financial instruments.
Coinswealthinvest.org Maximum leverage
|UK regulated brokers||30:1||5:1||❌||10:1||10:1|
|EU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|AU regulated brokers||30:1||5:1||2:1||10:1||10:1|
|US regulated brokers||50:1||❌||❌||❌||❌|
The FCA, like EU regulators, limits leverage to 1:30 for trading in major currency pairs and even lower levels for more volatile assets.
High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders.
Coinswealthinvest.org Deposit and withdrawal methods
|Deposit time||Withdrawal time||Price|
|Crypto||24 hours||24 hours||Fee depends on crypto|
The only way to deposit funds into Coinswealthinvest.org account is through cryptocurrencies. Scammers prefer cryptocurrencies because these transactions are not subject to refunds.
Legitimate brokers typically offer clients a wide choice of transparent payment methods, including bank transfer, credit/debit cards and established e-wallets such as PayPal, Skrill or Neteller. If you’re interested in legitimate brokers that accept digital currency payments alongside conventional methods, check out this list.
Coinswealthinvest.org Minimum deposit
Coinswealthinvest.org requires a minimum investment of 50 USD. You should know that for a similar or even lower amount you could open a trading account with a duly licensed forex broker.
Coinswealthinvest.org Withdrawal requirements
|Trading volume||Fee/Tax on withdrawal||Minimum withdrawal|
|UK regulated brokers||No||No||No|
|EU regulated brokers||No||No||No|
|AU regulated brokers||No||No||No|
|US regulated brokers||No||No||No|
Since Coinswealthinvest.org does not provide proper legal documentation, it is unclear what traps the fraudsters may have set. Typically, fake brokers make withdrawing money impossible through huge fees and impossible-to-fulfil traded volume conditions.