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CoinsBank

China|2-5 years|
High potential risk|

https://coinsbank.io/

Website

Rating Index

Contact

+10145410000
Support@CoinsBank.io
https://coinsbank.io/
Dufourstrasse 49, 8008, Zurich Switzerland

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

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Warning: Low score, please stay away! 2
Previous Detection : 2024-11-03
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

CoinsBank · WikiFX Survey

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CoinsBank · Company Summary

Note: CoinsBank's official website: https://coinsbank.io/ is currently inaccessible normally.

CoinsBank Information

Founded in 2021, CoinsBank is an unregulated brokerage company registered in China. It offers four account types and limited ways for customer support. Lack of transparency and regulatory hurdles are the biggest drawbacks.

CoinsBank Information

Is CoinsBank Legit?

CoinsBank, incorporated in China, operates without regulation from any recognized financial authority. This lack of regulatory oversight is a major red flag for potential traders. Opening an online brokerage account can be an easy way to start investing and there are always risks in investing. But we can choose to stay away from certain risks.

Is CoinsBank Legit?

Downsides of CoinsBank

  • Unavailable Website

CoinsBank's official website is currently inaccessible. Maybe it's time to find another brokerage.

  • Lack of Transparency

You can only find limited information online about this brokerage. This lack of transparency can really dampen investors' enthusiasm.

  • Regulatory Concerns

The regulatory hurdle is the biggest drawback of some online brokerages. CoinsBank is one of them.

Account Types

There are four types of trading accounts on offer: Blue, Silver, Gold, and Elite. The minimum initial deposit for each account is absurdly high, with the Blue Account requiring as high as $5,000 to start real trading, almost 25 times the amount of the industry standards. The Silver, Gold and Elite Account requires $20,000, $50,000, $150,000, respectively.

Typically, accounts with more capital funded can enjoy lower spreads. For instance, the Blue account offers spreads from 0.4 pips on major currencies, and traders who hold an Elite account can enjoy spreads as low as 0.1 pips.

Even for the blue account, the minimum deposit is $5000, which is much higher compared to some other brokerage. That could be a huge barrier for beginning investors. Furthermore, its website lacks detailed information about commission fees.

Account Types

Customer Support

Coinsbank offers minimal contact information. You can contact them via email: support@CoinBank.io. There is no customer support phone number listed on the website. That could be an inconvenience if you need help with your account and time is of the essence. Other online brokerages may offer you more options for getting in touch with customer service representatives or investment experts.

Conclusion

Lack of transparency is a huge barrier for beginning traders. CoinsBank is not a trusted broker because it is not regulated by a financial authority with strict standards. If you want to stay safe, only sign up with brokers that are overseen by a top-tier and stringent regulator.

Broker Information

Company Name

CoinsBank

Abbreviation

CoinsBank

Regulatory Status

No Regulation

Platform registered country and region

China

Company website
Phone of the company
  • +10145410000

Twitter

--

Facebook

--

Instagram

--

YouTube

--

Company address
  • Dufourstrasse 49, 8008, Zurich Switzerland

Linkedin

--

WhatsApp

--

QQ

--

WeChat

--

Customer Service Email Address
  • Support@CoinsBank.io

  • support@CoinsBank.io

Company Summary

Review

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