CoinManagements Review Is Coinmanagements.com Legit Or Scam

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CoinManagements Review: Is Coinmanagements.com Legit Or Scam?

Coinmanagements.com Review: this is the name of a broker that offers digital currency trading and is based in UK. Is CoinManagements a legit cryptocurrency broker or a scam? With the continuing rise in illegal and fraudulent cryptocurrency companies, it is vital that you read this review before opting to trade with this broker.

On the website of the company we found two addresses placing the broker in the UK and Russia. The fact that the company is based in these two locations means that it requires a proper license to operate legally in those regions.

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Forex trades in the UK is regulated by the Financial Conduct authority or the FCA. When we looked at the name of brokers regulated by this commission, we did not find any mention of CoinManagements and this tells us that it is not a licensed company.

Unlicensed brokers are dangerous to trade with as they are under no obligation to play by the fair rules of trades. They also do not have to answer to any authority in the case of misappropriated funds. We have always warned readers and traders alike not to choose to invest funds in any company that is not registered by a commission.

Advantages of CoinManagements

It is common for Forex brokers to start out with claims of making clients richer. This is because everyone seeking out easier ways to trade effectively does so to make more profit.

However, traders need to be careful about believing everything they encounter in the business sphere. Some are geared to just deceive and steal their funds. Considering what is offered and proofs are effective means of discovering fraud as well as reading our reviews and comparing the offers to those of other legit brokers at the bottom of this article.

Most of the good things mentioned on the website of this broker is generally about how digital currency is safe and profitable. The broker only mentions the offer of managed accounts by professional traders which is not really a good thing. Managed accounts may lead to loss of funds because the broker stands to gain more when traders lose.

CoinManagements Trading Platform

The trading software used by CoinManagements is operated on a web-based platform and mobile. This is not the MT$ and MT5 trading platform and we find this discouraging. The MetaTrader platforms are commonly used because they allow the use of trading robots.

Legit brokers are known to offer at least the popular MetaTrader 4 or 5 trading platform.

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These platforms are very good signs as they have become some of the most widely used by experienced traders. They are found to be compatible with various devices’ operating system. All can be used on desktops, Linus, windows, iOS and Android.

Tools that comes with these trading platforms are also found to be useful for traders. It has proven to be user friendly as well and helps traders in analyzing the market easily.

Trading instruments offered to traders are likely mostly going to be major digital assets like: Bitcoin, Ethereum, Litecoin, Ripple, Bitcoincash and more. We know that legit brokers offer currency pairs, indices, CFDs on many commodities and cryptocurrencies. It is important to let traders know the options open to them.

Maximum leverages offered is 1:400 and while this may seem generous, they could pose danger. High leverages can lead to huge loss of funds as well. Spreads are not made available to the public.

Spreads of 1.5 pips or below are what is obtainable in the forex industry and traders are asked to look out for this. Leverages of between 1:30, 1:50 and 1:25 are also common among regulated brokers.

Deposit and Withdrawal methods on CoinManagements

The means of making payments with this broker are: Bank Wire Transfer, VISA, digital currency transfer, and MasterCard. The fact that e-wallets are left out is disturbing because standard and legit brokers make deposit and withdrawals available via Visa, MasterCard and Wire Transfer. Many offer e-wallets like: Skrill, Neteller, UnionPay, FasaPay, and so on.

Minimum deposit required is $500 which is within the obtainable average of $100 – $250 among brokers. Withdrawal are said to be dependent on some minimum trading volume requirement set by the broker.

This information is important so that clients can invest any little amount they can spare. In order to be able to first watch the working of the brokerage. If then they are satisfied with what they see, they can determine when to withdraw their money.

We also find that bonuses are offered for every new deposits and this is a red flag. The withdrawal conditions that many unregulated broker use to tie funds down after giving clients bonus is unrealistic and unethical.

Is CoinManagements Licensed?

No. CoinManagements is not a properly licensed brokerage. Although the company claims to be located in the UK, we found that it does not even mention the FCA at all as a regulatory body. It is clearly an unlicensed brokerage trading without proper registration making it free to disregard trading rules.

We advise our readers to always avoid unregulated brokers because they have no obligation to keep your funds safe.

Regulated Forex brokers in Europe, America, Africa, Australia, and Asia are under many strict rules. The regulatory bodies like the FCA, FSCA, CySEC, AISC, NFA and many others have regulations protecting Forex traders from unfair brokers. This is why they come top as recommended Forex brokers.

Support

To speak to a customer care representative, dial: +44 20 3318 4609 (London) or +74993713847 (Moscow). You can also send an email to: [email protected]

Conclusion

As an unlicensed broker, we warn traders that it is no wise to trade with CoinManagements. It does not really have tempting offers and it is simply not worth the risk. If you have anything to add to this crypto broker review, do so via the comment section.

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Fortrade

Fortrade is a UK-based broker with address at Michelin House, 81 Fulham Road London, SW3 6RD, United Kingdom. They are among the best brokers in the industry offering trades in numerous assets including stocks, commodities, currencies, indices and cryptocurrencies. Fortrade is regulated and licensed by the FCA(Financial Conduct Authority) in the UK well as ASIC in Australia which makes client funds safe. They accept traders worldwide.. visit their official website

CoinManagements review – Is coinmanagements.com scam or good forex broker?

CoinManagements is a CFD broker, focused on the crypto market, offering various asset classes traded against Bitcoins and USD Tether. All of that comes with a leverage as high as 1:400 and a web based trading platform. Unfortunately the broker is based offshore and is not regulated, so if you are about to deposit your funds with them be sure to read the following review.

CoinManagements Advantages:

Leverage of up to 1:400

Such leverage levels are not that common anymore especially since most regulators throughout the developed world, including the financial authorities in the U.S., the European Union, including the UK, Canada, Japan and now even Australia capped the maximum leverage allowed with forex transactions to levels well below 1:100. Currently higher leverage is offered only by unregulated offshore brokers like CoinManagements and a few legit brokers regulated in New Zealand, South Africa and the United Arab Emirates. In any case you should always use higher leverage with caution as it is invariably linked to higher risk.

CoinManagements Disadvantages:

As we already noted CoinManagements is not a licensed broker and that is a major issue. Your funds can not be safe with unregulated brokers, because such broker are completely unaccountable for the way they handle your cash. On top of that quite too often such brokers are simply involved with scam, so if you weight the risks it is totally irresponsible to deposit any of your funds with a unregulated, offshore broker like CoinManagements.

What is more, apart from the fact that the broker is based on St. Vincent and the Grenadines, we know almost nothing about them – not even the name of the company that operates the website.

So once again we will repeat our usual advise to trade only with properly regulated brokers, licensed and authorized by a respectable institution such as the Financial Conduct Authority (FCA) in the UK, the Australian Securities and Investments Commission (ASIC) or the Cyprus Securities and Exchange Commission (CySEC).

If you trade with a regulated broker you will have the benefit to have your trading funds kept in a segregated, protected form creditors, trust account and also you will be granted a negative balance protection, meaning that you will not be losing more money than what you have deposited.

Also your broker will have to maintain a certain minimum operational capital, so that it will be bale to cover all outstanding payments towards customers. With all EU regulated brokers the minimum operational capital is as high as 730 000 EUR.

And also you may benefit from a client compensation scheme. In case your FCA regulated broker happens to be insolvent, for example, your funds will be covered for up to 85 000 GBP. Here you may check our list of brokers regulated in the UK:

Trading bonuses and unusual withdraw conditions

CoinManagements offers trading bonuses and that is another worrisome sign. The practice of offering trading bonuses is highly controversial, because such promotions always come with some special withdraw conditions, as for example a minimum trade volume requirement.

And quite too often scammers use trading bonuses as a pretext to cancel your withdraw requests. You can see here that CoinManagements will not let you withdraw anything from your account until you meet the minimum trade volume requirement, which by the way can be changed without a prior notice.

Bear in mind as well that trading bonuses are prohibited on the European market altogether.

High minimum deposit requirement

CoinManagements asks for a minimum deposit of no less than 500 USD and that is at least twice the amount most brokers would require with a standard account. And besides, with some big and well known names like FBS and IG you will be able to start trading with just 5 USD or even less.

MetaTrader4 not supported

CoinManagements offers a lousy looking web based trading platform that simply lacks some basic features freely available with classical trading solutions like the MetaTrader4.

For example we miss the option to run automated trading sessions with the help of trading robots and market indicators. Such customizable instruments are readily available on the MetaTrader4, along with a set of advanced charting tools. So here you may check as well our list of brokers supporting the MT4 platform:

Depositing any funds with unregulated websites like CoinManagements is basically a recipe for a scam. So here we will repeat our usual advise to trade only with legit and authorized companies, holding licenses from well respected institutions like the FCA in the UK, CySEC in Cyprus, or ASIC in Australia.

Account type Min. deposit Max. leverage Spread s/ Payout
Standard Account $500
Broker Advantages

FXTM a regulated forex broker (regulated by CySEC, FCA and FSC), offering ECN trading on MT4 an MT5 platforms. Traders can start trading with as little as $10 and take advantage of tight fixed and variable spreads, flexible leverage and swap-free accounts.

XM is broker with great bonuses and promotions. Currently we are loving its $30 no deposit bonus and deposit bonus up to $5000. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for.

FXCM is one of the biggest forex brokers in the world, licensed and regulated on four continents. FXCM wins our admirations with its over 200,000 active live accounts and daily trading volumes of over $10 billion.

FxPro is a broker we are particularly keen on: it’s regulated in the UK, offers Metatrader 4 (MT4) and cTrader – where the spreads start at 0 pips, Level II Pricing and Full Market Depth. And the best part? With FxPro you get negative balance protection.

FBS is a broker with cool marketing and promotions. It runs an loyalty program, offers a $100 no-deposit bonus for all new clients outside EU willing to try out its services, and an FBS MasterCard is also available for faster deposits and withdrawals.

FxChoice is a IFSC regulated forex broker, serving clients from all over the world. It offers premium trading conditions, including high leverage, low spreads and no hedging, scalping and FIFO restrictions.

HotForex is a EU Regulated broker, offering wide variety of trading accounts, including Auto, Social and Zero spread accounts. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage – one of the highest in the industry.

CoinManagements Review: Is Coinmanagements.com Legit Or Scam?

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