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Coinbits review; This is another disgusting scam. Find out why now.

Coinbits review; This is another disgusting scam. Find out why now.

The estimated reading time for this post is 324 seconds

coinbits reviewCoinbits review : This is a scam crypto currency company. Coinbits claim to offer traders a robust and secure multi plartform opportunities. Meanwhile, coinbits believe that the key to trading is reputation. Unfortunately, they totally lack this reputation. We believe so because the UK FCA recently blacklisted this scam.

Moreover, the website does not provide elaborate information on the trading conditions. Therefore, we suggest you stay away from them and stay safe.

To get across to them, investors will have to fill out a form on the contact page. They can also call
+44-20-8089-4639 or +41-44-974-6849.

They can also send a mail to support@coin-bits.co

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Coinbits review

As its name suggests, CoinBits offers trading in cryptocurrencies. They are available in the form of CFDs (derivatives).  However the broker’s website isn’t very informative about the trading conditions.

What is worse, CoinBits is unregulated. Moreover,  it is already in the blacklist of UK’s financial conduct authority (FCA) as a potential scam. Yet they claim to be the world’s leading company as far as crypto currency trading is concerned. Meanwhile, they promise tight spread with leverage of 1:150. In addition, they claim to have multiple trading plartforms including mt4 plartform and Web and mobile plartforms. In addition, the account type they provide is empty. Therefore, their trading conditions are not reliable.

After reading this coinbits review, the best option is to avoid the company else you will loose your money. If you want to trade crypto currency, then do it in okex.com.

Meanwhile, a lot of investors discredit the website already. Moreover, research shows that the website changed from a .com to a .co. And this happened after coinbits scammed many with the formal. In addition, the greatest challenge in this website is inability to withdraw. Of course you will make profits but you will be unable to withdraw including your capital. Instead, if you file for a withdrawal; They keep convincing you to put in more money so they can scam you big. The best thing for you is to avoid coinbits because it’s a scam.

Who runs this coinbits scam operation?

According to our coinbits review, there is a very serious contradiction concerning the website ownership. On the disclaimer, these scammers claim that the website is operated by Gama Solution limited. Their address is Suite 305 Graffith coperate center Beachmont P.O. Box 1510, St. Vincent and Grenadines.

Moreoverer, they present a totally different information in their terms and conditions.

Here coinbits claim that the owner of the site is GS services limited ,OU placed: Estonia Harju, Maakond, Tallinn, Kesklinna Linnaosa, Roosikrantsi tn 2, 10119.

This contractions are typical of a scammer. Therefore avoid these people at all cost. It’s obviously not clear who owns the website or where it’s based.

Coinbits review on security of your funds.

We have to make it clear that your money is not safe in coinbits. On the 15-4-2020, this broker showed up in the blacklist of UK’s FCA. In addition, the ownership of the website is ambiguous. Moreover, we have received numerous complains that coinbits are scamming people. You really need to avoid this broker. If you want to invest in crypto currency, do it in a licensed and regulated company like this one.

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Trading plartforms and account types

This is where it gets worse with this coinbits. These scammers don’t even support the universally accepted mt4 trading plartform. This plartform has good functionalities and always easy to use. Instead, they support webtrader without clear information on how it function. Meanwhile this plartform is a very common. Moreover, it’s always been associated with unlicensed brokerage firms. The options for customization are limited. There are no pending orders, no Expert Advisors, and barely any room for customizing.

In addition, during this coinbits review, we also found out that their account types page is empty. Therefore, it’s impossible for traders to choose their preferred account type. This is exactly how scammers function. So you better avoid them. At the moment, clients will not even have the opportunity to know the advantages of which ever account type they are using.

Coinbits review on trading conditions, deposit and withdrawal

As a matter of fact, the only thing we read on CoinBits’ website is that the broker offers leverage of up to 1:150. The broker hasn’t shared with the public any reference spreads, nor the minimum investment required. And there aren’t demo accounts available for users who wish to test CoinBits’ services for free.

This leads us to believe that they give away details only to those that they contact themselves via phone, which is of course, the most common scammer scheme, a.k.a. cold calling.

On top of all the negatives listed above, this broker has set an excessively high minimum withdrawal requirement. – 10 000 EUR/GBP. This is not a common practice in the online trading world.

Conclusion

This broker is a scam and you need to avoid it. Currently, some people have fallen victims and you don’t have to be among them. That’s why we have this coinbits review. Moreover, we have also reviewed similar scam which you can read about here.

coinbits reviewThanks for reading and always remember to share with friends through the social media handles.

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