Coinify is a forex and binary options broker that claims to offer a variety of trading products and services. However, there are a number of red flags that suggest that CoinifyOptionsTrade is a scam.
CoinifyOptionsTrade is a relatively new broker, having been founded in 2021. The company is registered in the Marshall Islands, which is a well-known offshore tax haven. CoinifyOptionsTrade does not have any regulatory oversight from any reputable financial authority.
Products and Services Available
CoinifyOptionsTrade claims to offer a variety of trading products and services, including forex, binary options, and CFDs. However, the company’s website does not provide any detailed information about these products or services.
Currency Pairs Available For Trading
CoinifyOptionsTrade claims to offer trading in a variety of currency pairs. However, the company’s website does not provide a list of the specific currency pairs that are available.
License and Regulation of CoinifyOptionsTrade
CoinifyOptionsTrade is not regulated by any reputable financial authority. This is a major red flag, as it means that there is no independent oversight of the company’s activities.
Why Should Not You Trust An Unlicensed Broker?
There are a number of reasons why you should not trust an unlicensed broker. First, unlicensed brokers are not subject to the same level of regulation as licensed brokers. This means that they are more likely to engage in fraudulent or unethical practices. Second, unlicensed brokers are not required to keep client funds in segregated accounts. This means that there is a greater risk that your funds will be lost if the broker goes bankrupt.
Previous Traders’ Experience
There are a number of reports online from people who have had negative experiences with CoinifyOptionsTrade. These reports include allegations of account manipulation, withdrawal delays, and outright fraud.
Scammed By CoinifyOptionsTrade?- Talk To Our Experts
If you believe that you have been scammed by CoinifyOptionsTrade, you should contact a financial advisor or lawyer. These professionals can help you to recover your lost funds and hold the broker accountable.