Coinbed FX Trader Review

Who is Coinbed FX Trader:

Coinbed FX Trader is a website that claims to be a leading online broker that provides access to over 250 financial instruments, including forex, stocks, commodities, indices, and cryptocurrencies. The website also claims to offer competitive spreads, fast execution, low commissions, and various account types and trading platforms. However, there is little evidence to support these claims, and the website does not provide any information about the company’s legal name, address, registration number, or license.

Regulation Of Coinbed FX Trader:

According to the ASC, Coinbed FX Trader is not registered to trade in or advise on securities or derivatives in Alberta. This means that the platform is operating illegally and may be violating securities laws. The ASC also warns that Coinbed FX Trader may be involved in a high-risk investment scheme that promises unrealistic returns and uses aggressive sales tactics. The ASC advises investors to exercise caution when dealing with Coinbed FX Trader and to avoid sending money or personal information to the platform.

Location Of Coinbed FX Trader:

The location of Coinbed FX Trader is unclear and suspicious. The website does not provide any physical address or contact details for the company. The only way to reach the platform is through an online form or an email address. The website also uses a generic domain name (.com) that does not indicate the country of origin or jurisdiction of the platform. Moreover, the website does not display any logos or seals of regulatory authorities or reputable organizations that could verify its legitimacy.

Services Offered By Coinbed FX Trader:

Coinbed FX Trader claims to offer a variety of services to its clients, such as:

– Forex trading: The platform claims to offer access to over 50 currency pairs, with leverage up to 1:500 and spreads from 0.1 pips.

– Cryptocurrency trading: The platform claims to offer access to over 20 digital assets, including Bitcoin, Ethereum, Litecoin, Ripple, and more.

– Stocks trading: The platform claims to offer access to over 100 global stocks, with leverage up to 1:20 and commissions from 0.1%.

– Commodities trading: The platform claims to offer access to over 20 commodities, including gold, silver, oil, natural gas, and more.

– Indices trading: The platform claims to offer access to over 15 major indices, with leverage up to 1:100 and spreads from 0.5 pips.

– Trading platforms: The platform claims to offer two types of trading platforms: a web-based platform that is compatible with any device and browser, and a MetaTrader 4 platform that is available for desktop and mobile devices.

– Account types: The platform claims to offer four types of accounts: Basic, Standard, Gold, and Platinum. Each account has different features and benefits, such as minimum deposit, maximum leverage, spread type, commission rate, bonus amount, educational resources, and customer support.

However, these services are not verified or regulated by any authority, and may be misleading or fraudulent.

Reviews Of Coinbed FX Trader:

The reviews of Coinbed FX Trader are mostly negative and alarming. Many online users have reported that they have been scammed by the platform and have lost their money. Some of the common complaints include:

– The platform does not process withdrawal requests and blocks the accounts of clients who try to withdraw their funds.

– The platform uses fake testimonials and reviews on its website and social media pages to lure unsuspecting investors.

– The platform employs aggressive sales agents who pressure clients to deposit more money and promise unrealistic profits.

– The platform does not provide any customer service or support when clients face issues or problems with their accounts or trades.

– The platform does not have any security measures or encryption protocols to protect the personal and financial information of clients.

Customer Service Of Coinbed FX Trader:

The customer service of Coinbed FX Trader is poor and unprofessional. The platform does not provide any phone number or live chat option for clients to contact them. The only way to reach them is through an online form or an email address that may not respond or may send automated replies. Many clients have reported that they have been ignored or mistreated by the customer service agents when they tried to ask questions or resolve issues. Some clients have also reported that they have been threatened or harassed by the customer service agents when they tried to withdraw their money or file complaints.

Securing Your Investments Against Unscrupulous Brokers:

If you are interested in trading forex or cryptocurrencies, you should be careful and vigilant when choosing a broker or platform. You should avoid platforms like Coinbed FX Trader that are not registered or regulated by any authority, and that may be involved in fraudulent or illegal activities. You should also do your own research and due diligence before investing your money with any platform. Here are some tips to help you secure your investments against unscrupulous brokers:

– Check the registration and regulation status of the platform. You can use the websites of reputable regulatory authorities, such as the ASC, to verify if the platform is authorized to operate in your jurisdiction. You can also check if the platform has any history of violations or sanctions by the regulators.

– Check the reputation and reviews of the platform. You can use online forums, blogs, social media platforms, and review websites to read the feedback and experiences of other users who have used the platform. You can also check if the platform has any complaints or lawsuits filed against it by the regulators or the clients.

– Check the terms and conditions of the platform. You should read and understand the terms and conditions of the platform before opening an account or making a deposit. You should pay attention to the details such as minimum deposit, withdrawal policy, fees and commissions, leverage and margin requirements, risk disclosure, dispute resolution, and customer service.

– Check the security and privacy of the platform. You should ensure that the platform uses secure and encrypted protocols to protect your personal and financial information. You should also avoid sharing your login credentials, passwords, verification codes, or bank details with anyone, especially over phone or email.

– Check the trading conditions and features of the platform. You should compare the trading conditions and features of different platforms and choose the one that suits your needs and preferences. You should consider factors such as spreads, execution speed, trading instruments, trading platforms, account types, bonuses, educational resources, and customer support.

Conclusion:

Coinbed FX Trader is an online platform that claims to offer forex and cryptocurrency trading services. However, the platform is not registered or regulated by any authority, and may be involved in fraudulent or illegal activities. The ASC has issued a warning about this platform, and advises investors to exercise caution when dealing with it. We have provided more information about Coinbed FX Trader, its regulation, location, services, reviews, customer service, and how to secure your investments against unscrupulous brokers in this blog post. We hope that this information will help you make informed decisions and avoid falling victim to scams.