Briefly about Coin Market Solutions
Coin Market Solutions is a company registered in Estonia, headquartered in Tallinn and is a trademark of ECM Limited, a professional provider of cryptocurrency services with a European license. The broker claims to be a provider of tokenized assets with an EU license to create and maintain electronic wallets and conduct cryptocurrency exchange operations. The company’s rules fully comply with the strict directives of the European Union.
The broker states that the company’s activities are regulated and licensed by the European Union and the Estonian Financial Supervision Authority. Also, the company currently has more than 5 thousand customers who have access to transactions with more than 300 instruments.
The truth is that Coin Market Solutions is an offshore broker based in Saint Vincent and the Grenadines. The hero of our review claims that he owns a license, but during the inspections it turned out that his activities are not regulated and, accordingly, cooperation with him poses a huge danger to your finances. In this review, we will discuss in detail the fraudulent schemes of this company and whether it is worth investing in them.
Providing false information to customers is a pretty obvious sign of fraud. Illegal brokers are not regulated by anyone, which means that your finances are not insured, and scammers will do everything in their power to rob you without fear that they will be punished for it. Scammers are perfectly trained to manipulate their customers. They have such a cheeky language that it will not be difficult for anyone to convince even the most skeptical client to invest. Scammers are quite dangerous, and it is very difficult to get rid of them. They have a whole list of crimes in their arsenal, such as fraud, money laundering and even terrorist financing. The least that can happen to you is that you will irretrievably lose the initial payment.
Coin Market Solutions Platform and Trading Tools
The software platform mentioned by the broker is completely non-functional and uncompetitive. This software includes a regular web trader, which is functionally limited compared to the performance of all leading Forex platforms.
The broker provides generous bonuses to new clients – another fraudulent trick to attract investors. A bonus can be a good reason to open an account. But there will always be pitfalls: accepting a bonus will mean that you agree to the additional terms that are attached to it. Most often, they include the payment of commission or taxes, as well as certain requirements for the volume of trade, before which withdrawal of funds is impossible. These requirements turn out to be unattainable, and the investor is left with nothing. It is useless to complain about the broker, since it is not regulated.
Another red flag is the broker’s offer to open a trading account without providing the client with any information about trading conditions. There is no data on minimum contributions, leverage, commissions, spreads, and so on.
How do online scammers work?
One of the most common schemes of deception in online trading is the initial display of profitable transactions that will inspire the investor with a false sense of confidence in getting easy money. A charmed investor, manipulated by a broker, will invest more and more money in order to make a big profit. As soon as the brokerage company considers that they have extracted all available funds from the investor, they will block the client’s account and he will no longer be able to access his funds.
Coin Market Solutions is an instructive and illustrative example of a fraudulent broker cloning scheme, the purpose of which is to convince its victims that they are a legitimate broker by assigning web content to another company, as well as its corporate identity and legal data. Therefore, we advise you to be careful when choosing a brokerage company and always carefully study the broker before investing, check the registers and do not miss the Terms and Conditions.
Jc NewtonJanuary 30, 2023
My experience with this broker can be described by many epithets, but they will all be negative. I’ve never seen such a terrible site. It’s just a nightmare how careless you can be in the technical part of the broker’s website! Terrible delays in placing orders, delays in withdrawing funds, inability to access the site the first time, even using a VPN. I do not know how to use it conveniently. No wonder I lost my money here.
Matt LloydJanuary 30, 2023
Coin Market Solutions has long been on blacklists!!! Be careful, don’t fall for their tricks! The founders of this blacklisted broker are anonymous and there is no guarantee that you can get your money back!!!