At our first look, we were not surprised about Currentcoins.net scam. The website appears to be lacking in critical information, which is usually the first red flag. Furthermore, there are no Terms and Conditions, implying that the company does not adhere to any guidelines. Instead, they do what they like which makes it a SCAM..
Everything is covered in our comprehensive Currentcoins.net review.
Furthermore, we strongly advise you not to invest in the fraudulent brokers Bullden, springcapitalbank.com, and marketsxpert.com.
Is it possible to profit from the Currentcoins.net platform?
It’s theoretically possible. The problem arises when an unwitting victim attempts to withdraw the same profit.
Currentcoins is a trading firm that operates anonymously. Because there is no official owner or legal jurisdiction, legal action is nearly impossible.
If you put your money into this bogus website, there is no guarantee that it will be returned. We found no traces of Currentcoin’s license after searching major Tier1 databases maintained by the UK FCA, Australian ASIC, German BaFin, and others. As a result, no regulator will accept responsibility for compensating victims.
Reasons to Avoid Using an Unlicensed Broker
Unlicensed brokers do not adhere to any legal requirements. They don’t even require T&Cs or other legal documents. Nobody can stop them from doing whatever they want with their clients’ money, including disappearing.
Legitimate businesses have a variety of mechanisms in place to ensure legal business and fund protection. That is why, when selecting a firm, it is critical to find one that is licensed by Tier 1 authorities.
Is Currentcoins.net a Trustworthy Broker or a Scam?
Currentcoins is a private online trading platform. The company is not licensed and operates illegally. The German regulatory authority issued an official warning about the scam.
Currentcoins previously operated under the domain currentcoins.net. The German BaFin has added this domain to its blacklist, along with ironcladmarkets.com, a fraudulent advertisement used by the broker to promote its services.
Both websites are being closely monitored, and an official investigation has been launched by the German Federal Criminal Police.
What Are Traders Saying About Currentcoins?
Currentcoins and ssloyal.io have received numerous complaints from victims. The advertisement appeared to be a typical get-rich-quick scheme, promising large profits from investing. When inexperienced investors signed up, they were pressured to deposit more and more money.
When they asked for a payout, the fraudulent broker simply froze their investment accounts and stopped taking their calls.
Currentcoins Trading Software
Currentcoins.net provides a trading platform that is accessible via the internet. It’s adequate for basic trading but lacking in advanced features. For example, it does not support social trading or EAs, implying that clients can only view the market and use basic strategies.
One such software will never be able to compete with what traders can get from MetaTrader. Both MT4 and MT5 have their own set of benefits and are far more reliable than any WebTrader.
Currentcoins – Service Countries
This broker primarily operates in:
• United Kingdom
We anticipate that other regulators will join the German BaFin in warning the public about this notorious scammer.
Also, remember the names of the trading scams bigbluefx.com, crypto-rate.ltd, and metroincometrade.com avoid them at all costs! Furthermore, before investing, always investigate the background of online trading companies!
What is known about the trading conditions of Currentcoins?
Trading conditions, spreads, and leverage are used to evaluate trading risks and costs. The spread shows how much you’ll be charged per trade, and the leverage shows how much risk your funds are exposed to. Scheme brokers typically compete by offering low costs and higher leverage. Currentcoins is no different.
Concerning Leverage and Spreads
According to the FAQ section, the leverage can be increased to 1:1000. Knowing that the EU and UK regulators have a 1:30 limit, while the US and Canada have a 1:50 limit, we can already see the risk imposed by the Invest Kingdom.
The spread, on the other hand, is quite competitive, starting at 1 pip for the EUR/USD pair. As a result, this is lower than the industry average as is used as a trap.
Minimum Deposit and Unfavorable Withdrawal Terms at Currentcoins.net
While the Account Types section indicates that the Main account starts at zero dollars, the FAQ states that you need $250 to open an account and begin trading. According to the withdrawal, no legal documents would be of assistance. Customers must have verified accounts, and the verification process can take up to 72 hours.
Except for wire transfers, the minimum withdrawal is set at $1. In this case, you must have at least $300 in order to be eligible for a payout. Furthermore, indicating that you must deposit more to reach the amount is quite limiting and unfair.
Customers have three options, according to their website:
Transfer by wire
If you try to use any other option than crypto, you will be redirected to a third-party website where you can buy crypto with a credit card or bank transfer and then deposit. In practice, each deposit is made using cryptocurrency, the only virtually untraceable payment method.
Currentcoins Broker Scammed You? – Tell Us Your Story
Please let us know if you were duped by Currentcoins. Our recovery specialists may be able to help you with the problem and get your money back. Don’t give up, and don’t let the scammers get away. Crypto transactions are difficult to track, but not impossible.
Contact us today to schedule a free consultation, and let’s get started!