CoinePro Review – Is it legit?
General Information | |
---|---|
Broker Name: | CoinePro |
Broker Type: | Forex |
Country: | / |
Operating since year: | 2020 |
Regulation: | None |
Address: | / |
Broker status: | Unregulated |
Customer Service | |
Phone: | / |
Email: | support@CoinePro.com |
Languages: | English |
Availability: | 24/5 |
Trading | |
Trading platforms: | Proprietary |
Trading platform Time zone: | - |
Demo account: | No |
Mobile trading: | Yes |
Web-based trading: | Yes |
Bonuses: | No |
Other trading instruments: | Yes |
Account | |
Minimum deposit ($): | $250 |
Maximal leverage: | 1:400 |
Spread: | Floating |
Scalping allowed: | No |
- GENERAL INFORMATION
- FUNDS TRADING AND SECURITY
- TRADING ACCOUNTS
- TRADING CONDITIONS
- TRADING PLATFORM
- COINEPRO’S TRADING PRODUCTS
- CUSTOMER SERVICE
- CONCLUSION
General Information
CoinePro is a broker that started working in 2020 and was instantly hit with a ton of negative publicity and reviews. They have since redone their website in hopes of starting over. However, the fresh layer of paint on the site didn’t do much to correct the broker’s poor service and malicious behavior.
In our CoinePro review, we’ll provide you with some insight on how the broker functions, as well as why it was so negatively received.
Funds Trading and Security
The first issue that should be enough to turn you away on its own is the lack of location info. Finding out where CoinePro operates from is nearly impossible, although some sources claim they’re located, to nobody’s surprise, offshore. If you can’t even find a broker, getting compensation for any irregularities is nothing more than a pipe dream.
Naturally, their lack of specific location is followed by a lack of regulation. So the only security measure you can rely on when depositing your money is trust. But that’s where the next issue arises since many have marked CoinePro as a scam.
In less than a year, they’ve gained so much negative traction that they’ve had to reskin their site to avoid the negative publicity. Positive reviews are hard to come by, and even when you find them, it’s obvious that they are either faked or sponsored. The broker doesn’t show a single quality that would indicate trustworthiness, and unless you want to risk your funds getting stolen, you should avoid doing business with them.
Trading Accounts
The next sign is that, while the lowest account requires $250, the next one is quite a bit more expensive. CoinePro decided to make the amount you need to invest for the next type $5000. Beyond that, there are other overpriced accounts that nobody in their right mind would reach.
Other CoinePro.com reviews mostly use their old website, which was riddled with typos and misused terms. We looked at the new one, and while they did improve, there’s still a ridiculous number of mistakes that should’ve been picked up. For example, their middle account is named Standart, and they present their leverage as 200/300/400, as opposed to 1:X.
Typos aren’t a huge deal, but they show an extreme level of sloppiness and carelessness.
Trading Conditions
Trading Platform
We mentioned earlier in our CoinePro review that they use a self-developed platform. While that isn’t always a bad thing, combined with the absence of a demo account, it makes for another red flag. Custom software is often clunky and has security issues, and in this case, indicates carelessness.
CoinePro’s Trading Products
CoinePro has a dedicated asset page, unlike some other scam brokers. It shows the product categories, containing forex, crypto, commodities, shares, indices, and metals. You can click on each of the categories and see an asset list. That makes for one section of CoinePro’s website that actually shows you what you want to see.
Customer Service
CoinePro was lazy in organizing their customer support team as well, as you can only reach them via email. It’s entirely understandable that, since CoinePro is a scam, they don’t want you to reach them.
Email: support@CoinePro.com
CoinePro Review: Conclusion
If there’s one positive thing to say about CoinePro, it’s that they’re consistent. Their service and website are consistently messy and lazy. Considering that they’re a scam, we assume they would’ve at least done more to lure customers in, but as it stands, we’re uncertain who would even want to use their service.
If you read the rest of our CoinePro.com review, it goes without saying, but you should definitely avoid using the broker’s services.
- Support
- Platform
- Spread
- Trading Instrument