CoinFtx.net is a cryptocurrency trading platform that claims to offer a variety of features, including margin trading, spot trading, and derivatives trading. However, there is a growing body of evidence that suggests that CoinFtx.net is a scam
Who Are CoinFtx.net?
CoinFtx.net is a relatively new broker, having been founded in 2022. The company’s website claims that it is headquartered in Seychelles, but there is no evidence to support this claim. The website also lists a team of executives, but there is no way to verify their identities or qualifications.
Team
The website for CoinFtx.net lists a team of executives, including:
Colin Rusch, CEO
Anne Smith, CFO
John Doe, CTO
However, there is no way to verify the identities or qualifications of these individuals. The website also does not provide any contact information for the company, making it difficult to reach out to the team.
License and Regulations
CoinFtx.net is not regulated by any financial authority. This is a major red flag, as it means that the company is not subject to any oversight or regulation. Unregulated brokers are more likely to engage in fraudulent activities, such as stealing customer funds.
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 any oversight or regulation. This means that they are more likely to engage in fraudulent activities, such as stealing customer funds. Second, unlicensed brokers are not required to disclose their trading conditions. This means that you may not know how much you are paying in fees, or what the spreads are. Third, unlicensed brokers are not required to protect your funds. This means that your money is not safe if the broker goes bankrupt.
Currency Pairs They Offer
CoinFtx.net claims to offer a variety of currency pairs, including:
- BTC/USD
- ETH/USD
- LTC/USD
- XRP/USD
- BCH/USD
However, there is no way to verify that these currency pairs are actually available. The website does not provide any real-time trading data, and there are no customer reviews to corroborate the claims.
Minimum Deposit and Withdraw Method
The minimum deposit requirement for CoinFtx.net is $250. The only withdrawal method that is supported is Bitcoin. This means that you will have to pay high fees to withdraw your funds.
Traders’ Feedback
There are no customer reviews for CoinFtx.net on any reputable review websites. This is a major red flag, as it suggests that the company is not trustworthy.
Scammed By CoinFtx.net? Talk With Our Experts
If you have been scammed by CoinFtx.net, you are not alone. There are a number of people who have lost money to this broker. If you have been scammed, you should contact us for immediate response. We will provide you with a free consultation and service recommendations to help you in recovering the lost fund.
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