Coinbed FX Trader Review

Investors Alert Coinbed FX Trader – Regarding registration of issuance, offer or sale of securities/derivatives, and reporting requirements

Introduction to Coinbed FX Trader:

Coinbed FX Trader is an online platform that allows users to trade various currencies, commodities, indices, and cryptocurrencies. The company claims to have over 10 years of experience in the financial markets and to offer advanced trading tools, educational resources, and professional support. Coinbed FX Trader also promises high returns on investment, low spreads and commissions, fast execution, and secure transactions.

Products and Services offered by Coinbed FX Trader:

Coinbed FX Trader offers four types of accounts: Basic, Standard, Premium, and VIP. The minimum deposit for each account ranges from $250 to $50,000. The accounts differ in terms of leverage, spreads, bonuses, trading signals, and access to webinars and account managers. Coinbed FX Trader also provides a demo account for practice trading.

Coinbed FX Trader supports various trading platforms, including MetaTrader 4, WebTrader, and MobileTrader. The company claims to offer over 200 trading instruments, including forex pairs, commodities, indices, stocks, and cryptocurrencies. Some of the popular assets include EUR/USD, GBP/USD, USD/JPY, gold, silver, oil, Bitcoin, Ethereum, Ripple, and Litecoin.

Financial institution & regulatory license of Coinbed FX Trader:

Coinbed FX Trader claims to be operated by Coinbed Limited, a company registered in St. Vincent and the Grenadines. However, the company does not provide any proof of its registration or address on its website. Moreover, the company does not have any regulatory license from any reputable financial authority. This means that Coinbed FX Trader is not authorized to offer its services in any jurisdiction and that its clients have no legal protection or recourse in case of any dispute or fraud.

Trader’s Reviews and Customer Service of Coinbed FX Trader:

Coinbed FX Trader has received many negative reviews from traders who have used its services. Many of them have reported that Coinbed FX Trader is a scam that does not allow them to withdraw their funds or profits. Some of them have also complained about the poor customer service, the misleading information, the high-pressure tactics, and the hidden fees and charges.

Coinbed FX Trader provides a phone number and an email address for customer support. However, many traders have claimed that they could not reach anyone through these channels or that they received no response or assistance from the company.

How do online trading scams operate:

Online trading scams are schemes that lure unsuspecting investors into depositing money with unregulated brokers who promise high returns and low risks. These brokers often use fake websites, testimonials, awards, and credentials to appear legitimate and trustworthy. They also offer attractive bonuses, incentives, and trading signals to entice investors to deposit more money or trade more frequently.

However, once the investors try to withdraw their funds or profits, they face various obstacles and difficulties. The brokers may ask for more documents, fees, taxes, or commissions before processing the withdrawal requests. They may also manipulate the trading platform or the market prices to cause losses or margin calls. They may also ignore or block the communication with the investors or close their accounts without any explanation.

How to Safeguard Against Fraudulent Brokers:

To avoid falling victim to online trading scams, investors should do their due diligence before choosing a broker. They should check the following aspects:

– The registration and regulation status of the broker. The broker should be registered and licensed by a reputable financial authority in the jurisdiction where it operates.

– The reputation and reviews of the broker. The broker should have positive feedback from other traders who have used its services. The broker should also respond promptly and professionally to any complaints or queries.

– The terms and conditions of the broker. The broker should disclose all the relevant information about its products and services, including the fees, charges, spreads, leverage, margin requirements, withdrawal policies, etc.

– The security and privacy of the broker. The broker should use encryption technology and secure payment methods to protect the personal and financial data of its clients.

– The education and support of the broker. The broker should provide adequate training and resources for its clients to learn about trading and improve their skills. The broker should also offer reliable and accessible customer service through various channels.

Conclusion:

Coinbed FX Trader is a forex and cryptocurrency broker that has been warned by the ASC for operating without registration or authorization in Alberta. The company has also received many negative reviews from traders who have accused it of being a scam that does not allow withdrawals or provides poor service. Investors should be wary of Coinbed FX Trader and other online trading scams that promise high returns and low risks. They should do their research and verify the legitimacy and credibility of any broker before investing their money.