Read our CoinsMarket review carefully to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a coinsmarket.exchange review.
Who are they?
After taking a look at their website, it shows that they do not fall under any regulating agency. That is a MAJOR RED FLAG!! That should be enough for you NOT to invest with them. And they also work with websites that offer “Automated trading software” which is another red flag, as this kind of websites are notoriously famous for scamming schemes.
So CoinsMarket is just another unregulated forex broker, which means the customers are not protected, and there is highly likely they will get away with your hard earned money and there will be no regulating agency to hold them responsible.
How does it work?
Usually unregulated forex brokers work in the following way. They will call people to persuade them to make the initial minimum deposit, while trying any conceivable method in order to make that happen. They will offer deals that sound too good to be true, like we will double your initial deposit or you will make $100 per day easily. Please don’t fall for anything they say!!! It is a SCAM! After making the initial deposit, people get transferred to a smarter scammer, called a “retention agent”, who will try to get more money out of you.
Withdrawing funds
You should submit a withdrawal request ASAP, because your funds are never safe with an unregulated broker. And here is when things get tricky.
If you want to withdraw your money and it does not matter if you have profits or not, they will delay the withdrawing process for months. If they delay it for six months, you won’t be able to file a chargeback anymore and your money is gone for good. It does not matter how often you remind them or insist in withdrawing your money, you will NOT get them back. And if you signed the Managed Account Agreement or MAA, which is basically authorizing them to do anything they want on your account, they will lose all your funds so there won’t be anything to request anymore.
How to get your money back?
If you already deposited your money with them and they refuse to give your money back, which is very likely to happen, don’t worry, it might be a way or two to get your money back.
First of all you need to keep the emails as a proof that you have been requesting the money back from them but they don’t give it to you, or they delay the process for too long, with the intention of not refunding your money.
The first thing you should do is perform a chargeback! And you should do this right away! Contact your bank or credit card provider and explain how you were deceived into depositing for a trading company that is not regulated and they refuse to give your money back. This is the simplest way of getting your money back and is also the way that hurts them the most. Because if there are many chargebacks performed, it will destroy their relation with the payment service providers. If you haven’t done this before or you are not sure where to start or how to present your case to your bank or credit card company, we can assist you in preparing your chargeback case. Just contact us at [email protected] but do not let your broker know they you read this article or that you are in contact with us.
What about wires?
If you sent them a wire, there is no way to perform a chargeback on a wire. For this step you need to raise the fight to a different level. Tell them that you will go to the authorities and file a complaint against them. That will get them to rethink the refund possibility. Another thing you can do is prepare a letter or email for the regulating agencies. Depending on the country where you live, you can search on google to find the regulating agency for Forex brokers in that country. After that you can prepare a letter or an email describing how you got deceived from them. Make sure you show this letter or email to them, and tell them you will send it to the regulating agency if they don’t refund your money. If you do not know where to start, reach for us at [email protected] and we will help you with this step as well.
Make sure you leave reviews about CoinsMarket in other sites
Another way to hurt them and save other people from falling victims is to leave bad reviews on other sites, and describe shortly what happened. If you fallen victim please leave a review and a comment on this site at the comment section.
CoinsMarket Review Conclusions
Making the CoinsMarket review is actually a pleasure for us, and we hope to save as many people as possible from losing their hard earned money. A good rule of thumb is to carefully review all the Forex companies and any other company for that matter, before you perform any transaction. We hope that our CoinsMarket review has been helpful to you. If you have any questions or you need an advice about the withdrawing process, feel free to contact us at [email protected] or by using this contact form.
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.
Please,Please don’t have anything to do with these Rogues,they are very cunning and devious I would give them a rating of Zero or minus 100.A person called Zac of another person called Cole Rosenburg who is very aggressive will call you and deal on your behalf.I suspect that they have their own website which is fake, where they make profits for you but you cannot withdraw these profits .The Company is registered in St Vincent.The p;oy they use is that China is in the Process of issuing its own Bitcoin and you will be able to get these bitcoins through them, once they get your £250 they will force you to increase your investment to £10,000.Please Please do not under any circumstance invest with this Company
they have $250. i cleaned my browers i cant even find them now coinsmarket.exchange is owned by Miracle Tree Labs LLC on St vincent and Grenadines have there own bank and laws use phone no from London told me they office is in southAfrica they tryied to get more money out of me hoping to get my money back with you jack same web page to china bitcoin i though something was up when i could not find them in Google good luck every one number one question to ask yourself how much can i a ford to loose or risk ??????
They used a CHINA YUAN buying app to hook up clients. Then a number of “ACCOUNT MANAGERS” would rang you up and ask you to deposit USD 250 as a basic trader, then use a “BONUS SCHEME” to lock you in. DO NOT SIGN ANY BONUS AGREEMENTS! The BONUS DOCUMENT contains very tricky clauses that implied promising a trading volume of over USD 50 million dollars. They would then drew up a plan of how they can increase your trading leverage up to 1:40 so as to achieve the so-called “Trading Volume”. These are all SCHEMES to make you deposit more moneys. I have injected USD 25000 and they managed to vaporize over USD28000 in 4 evenings (tempting you by small profits at the beginning). All there promises on “risk management” and “stop loss” were lies, because the traders who rang you up in late evenings to do trades are simply dumping my moneys in large sums without any stop loss. By comparing figures and market trends, I have proof that they are working against all logical market calculations.
Beware of these names from COINSMARKET: Trever Bishop, Lando, Colton Grey, Richard Grader, William Rogers, Wade O’Connor. They will take turns to call you up as “senior account managers” “Diamond Manager” “Education Expert”, but all these are just cover-ups behind a large fraud syndicate!!
DO NOT PAY IN ANYTHING TO COINSMARKET.EXCHANGE and don’t deposit any money into the wallets they open up for clients. They are obtaining moneys via third party which keep them clean from any commitment! All the terms and conditions added up to you never being able to draw out profits!
Some poor retired men or women might easily have lost all their hard-earned savings via such fraudulent and ruthless acts! I welcome anyone who had been tricked by COINSMARKET to private message me so that I can collect more evidence of their misdeeds to report to relevant authorities. Despite losing a big sum of money, I am eager to find ways to prevent others from being tricked.
I had the same experience as everyone else who has left a comment they are the nastiest pieces of worthless waste of space that I have the displeasure in meeting. if you ever invest money with them, you will never see it again, I have gone to my bank, the FSCA, the FCA and the tax man to report them.
These nasty buggers were once linked with
Cryptec
coinsmarket.io and a few other web addresses, they regularly change their web address .
The ones to watch out for are:
Miguel Branco
Calvin Bates
Barry Royce
Cole Rothenberg
Wade O’Connor
Richard Grader
Graham Berman
I am seeing there mess all over the internet, they have affected the lives of so many people and continue to get away with it. Can the owners of this website allow us to share our information privately to build up a dossier against them to shut them down.
I have also been scammed out of $2500 as per Windfull’s comments above. Other names from coinsmarket include: Kyo Reece, Xander Harley, William Rogers, Calvin Bates. Do not trust these guys, the platform is well set-up and it is not until you get into trading that you realize they are losing your money on purpose so you will add more into the account. I was able to transfer $100 out of the account as an act of good faith on their part before everything went sideways.
I am from Canada and i am retired. I tried to go and apply for new digital currency china. In very short time after i fil up my application, i received a call in very bad accent and i thought he is a China representative. He was from CoinsMarket and processed $ 250 and buy trough “Vertex” a small fraction of bitcoin and then they transfer this fraction of bitcoin in CoinMarket platform and show me how work and then ask me for $ 2500 to go on basic plan account which promise me that after 3 months will be over $14000. I lost about $ 2000, and they ask for more money, but i stop any fund because i didn’t see any good result.
You did the right thing Gheorghe
People from South Africa defraud me of 100000+ how trusting naive was I, thankfully I have a few years left to earn back part of the money to put to retirement. He used Veritex, bluesnow, Coinspot (who blocked him) to transfer cash to bitcoin. I will never buy bitcoin again let alone trade. They placed big trades in succession all losers. Their money (monopoly)they match yours with is false for their platform is false. Then you need to spend more money to trade with, which I did not. Their wins are small and they build up false hope. They will never return your money, win or loose.
I had almost the identical experience as WINDFULL. When I replied to the advertisement for Chinese yuan cryptocurrency I thought I was dealing with an agent for the Chinese government. I started out with $250 then $500 and still thinking it was legitimate went on for $ 2500. It was only when they asked for $5000 more that I figured something was wrong so I said give me an hour and call me back. In the meantime I checked further and found I was being taken. Fortunately I contacted my bank and had chargebacks issued and was able to get all my money back. I never contacted them again. I thought that was the end of it That was on September 13th and they still call every day, often 3 or 4 times and also email as well. I don’t answer any of their calls and wonder when they will finally quit calling.
Would Coinsmarket.Exchange victims pls private message me for more details of their operations. Email to windfull1212 at yahoo dot com.
I would like to collect more info and form a united force for preventing future frauds!
It is a total scam. They brainwash you and use pressurize techniques to lure amateurs in. They promise to make you money but they will lose all trades on purpose after you deposit a large sum of money. What u lose they make, zero sum game. Simple as that.
TOTAL SCAM! This exchange was set up for 2 months and there are not the only one. The syndicate sets up many of these fake exchanges using the same code template. Even if you bring one down, many of these will pop up again. A lot of the fund transfers are blocked by the bank and my bank told me that they have a list of fraudulent overseas account which their customers have been scammed previously. The funny thing is, if your fund don’t go through, they direct you to another exchange! and they all look the same! Dodgy AF. I lost $200k in the end and they are laughing behind my back now since all of their traders are in cahoots. They use a GOOD COP BAD COP strategy. First they introduce you to a trader who makes u money, make u think he is good. And subsequently all hell breaks lose when they introduce you to a new trader. Telling you that the previous guy has been promoted and he is serving private clients. Total BS. In the end they make sure to help u trade and deplete your account.
Hi everyone! I was scammed out of $600… My bank froze my creditcard (which Im glad about) because the money went to Beijing China! they new something was up. I tried to get my money back but without success! I spoke to 4 different people over a 2 day period from CoinsMarket, the main contact I had was Lando!
The female woman from accounts wanted me to send verious identification to prove who I was! I kept saying you know who I am! you took my money! After wanting me to jump threw alot more hoops I gave up!
What a bunch of crooks!
I have been scammed out of all my savings. $000,000’s Yes. I was that ignorant and gullible. I’m in quarantine and on heart meds that make me foggy. A sad confluence of circumstances and I stumbled.
It’s just happened, last week of Sep 2020. I can see now how desperation blinded me. All those names listed above I’ve spoken to. Most are very smooth. I’ve lost everything and am now grossly over extended. What can I do?
Guys we need to come together to fight these evil people windfull expect an email from me
Add to the list:
William Rogers
Daniell Diamond
Brian Covet
They have changed names, moved websites and moved accounts.
New Name: Cryptron
New Website: https://cryptron.io
ALL VICTIMS pls copy paste your reviews, change “coinsmarket.exchange” to “cryptron.io”, and post experience onto this page:
https://www.personal-reviews.com/2020/06/cryptron-review-cryptron-io-scam/#comment-19070
SCAM SCAMSCAM two guys COLT and Cole two rotten heaps of S–t promise the world and got your monies
These buggers have shutdown coinsmarket.exchange and have changed to a different website
https://cryptron.io
I have had regular ‘education’ after trader Marlin was responsible for bad trade that saw my funds depleted by about $4k. Requesting funds withdrawal now my and no-one will respond to my request. My account manager will handle it? Don’t know who that is? No response to emails. More education booked for next Monday. Wish me luck!
Tour money is gone this is normal behaviour for those scammers.
They have literally made millions off vulnerable people and the authorities don’t seem to care.
You’re going to have to find other means to claw your money back because they won’t respond to you now and will pass you from pillar to post
Yes they are the scum of the earth. I don’t think the names they used are real as I google many of the names I was given and none come up with people who fit in with broking etc. The short time I was being scammed they changed there name 3 time. coinsmarket.io, coinsmarket.exchange and the final one was crypton.io which I was locked out of before I could first log on as they were investigating my complaints. Very professional scammers. hopefully the Karma god’s will catch up and deal with the South African scum. i ALSO believe they were associated with Citrex.io who have also gone of line.