Coindaq Review

Read our Coindaq review carefully to see why we do NOT recommend this broker for trading. Just to clear doubts, this is a coindaq.io 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 Coindaq 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 Coindaq 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.

Coindaq Review Conclusions

Making the Coindaq 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 Coindaq 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]
If you like to trade please do it with a trustworthy, regulated broker, by choosing one of the brokers listed below.

13 COMMENTS

  1. coindaq.io became first bit.io after their scandals caught up with them. They use the same fraudulent techniques, false claims, false names, and endless delays. The answer is to punish them with bad publicity. If enough people do that then, eventually, card providers will end their access to card payments.

  2. hi there i recently sent this company£250 to give my grandkids abit of fun and see how this works,cannot get in touch with them now after our conversation they wanted me to send them £1000 no way.CAN I GET MY MONEY BACK?

  3. Coindaq is a scam site. They lie all the time, take your money and refuse to give your money back unless you provide them with all of your identity documents. They can take your money out but can’t put it back in the same place!! They promise you can have access to your money but you can’t!!

  4. COINDAQ.IO Is definitely a SCAM!
    *****************************************************************
    ****UPDATE****
    ****THEY ALSO MAKE THREATS TO YOU!!!
    After finally getting rid of them, after a few months, I got another call from them.
    They were asking me to take down or change my review below, after their usual insistence, aka ‘harassment’ and facing my refusal, the representative asks me what I wanted to take down or change the review, I answered, ‘I want my money back!’
    After insisting more and my refusal to take my condition, he tried to end the conversation, saying:
    – OK, so, you will not are going to take the review!
    – I will not insist anymore, BUT, I want to give you a piece of advice, BE CAREFUL WHEN YOU GO TO SLEEP, MAKE SURE THAT YOU LOCK YOUR DOOR AND WINDOWS AT HOME!****
    ****I responded with “GO F### YOURSELF, DON’T THREAT ME!
    **************************************************************
    I saw a Facebook (this is also a scam) Ad about China launching a Crypto Currency, so I clicked and an article from Bloomberg.com popped up, I read the article and it sounds legit, later I found out that was a FAKE website copying the real Bloomberg..com but was to late.
    When I clicked on a link that took me to coindaq.io contact, they called me back instantly and the representative asked me a few questions, told me that I could take easily 5.000,00 Euros per month and redirect me to “my Account Manager Richard Bennet”.
    I told my newly assigned “Account Manager Richard Bennet” that I wanted to invest initially 1.000,00 Euros and he promptly took the money from my account.
    After that he told me that he will add another “retunable bonus” of 1.000,00 Euros, making my investment 2K euros.
    After a few movements, he makes the 2k into 2.2k in less than 2 minutes, he then started pushing me to invest more 4k, I said no I want to try with this 1k first and after some time add more money because I confess, I have no idea how these things work.
    So the pressure started to get stronger and after almost more than 1 hour I agreed to put in another 1k, now my investment was 2k euros plus the 1k bonus and the 200 euro profit was 3.2k, but not satisfied he continued to pressuring me for another 3k to make the investment 5k, after another hour of pressure I gave up and said that I didn’t want to continue investing and want my money back, he told me was going to transfer to another person to process the refund.
    The new guy that was supposedly the one processing my return took me back to the investment page and with a couple moves transformed the 3.2k into 4.095,00 euros.
    At that time I was already sure that was a scam and insisted I want my money back, just the 2k euros originally invested I didn’t want the “profit” of 1.094, 00 euros they can keep that.
    He continued insisting that I should put another 3k to make the 5k investment, all I was answering was I WANT MY MONEY BACK!, so he finally gave up and transferred me to a 3rd person, this one screaming that I was stupid and I should give them 3k more, I was fed up and repeating that I WANT MY MONEY BACK!
    Finally, after almost 5 hours on the phone with these disgusting people, he agreed in the process a refund, he told me that the 1st guy Richard Bennet will contact me the next day to give me information on the refund.
    So far 12 days have passed since my money was illegally separated from my account more than 20 e-mails, many phone calls, and looks like I can kiss it goodbye.
    I continue to call them sending e-mails lets to see if they can handle my pressure as well.
    SO DEFINITELY **COINDAQ.IO** IS A SCAM!!!
    By the way, I mentioned early that Facebook is a scam, I’m a very alert person to notice a scam, but the 3 times that I lost money was on Facebook ads.

    Rating: 1
  5. COINDEQ-SCAM SCAM SCAM Stay well clear- I got sucked in with smooth talking “Harvey, after my initial 250 us was invested and every trade made a profit he came up with the plot that i should invest a further 2000 to make the returns bigger and faster, being a 73 yr old pensioner i cant come up with those kind of dollars to risk,he then did no further trades on my account and so i requested a refund,still waiting 2 weeks later, glad its only cost me 250 ,there are others with horror stories dealing with these animals.there should be a world central body to register and control the stockmarket traders

  6. Hi everybody
    I am so pleased for your advice my son and I to was going to invest £250 each into Coindaq io. From my OAP pension moneys.
    I invested £250 into Northstate io just after Christmas 2020 I have yet to apply for a profit payment I’m still trying to get an ID Photo sorted out
    Thanks again
    All the nest mike

  7. It looks like I may be their latest victim, I am on a Disability pension& am looking to supplement my pension a small amount as the pension barley covers my living expenses , so I contacted this site about the Chinese crypto , all looked good until I invested $250 then I was transferred to an account manager ALSO name changed to Coindaq , they put me on Zoom & then I was bombarded by 1 then 2 and finally 3 people telling me I had to transfer $2000 to a crypto wallet [bank ] affiliation & they would transfer my money straight back and within a few mins. they were going to use it and give me 2,5,even 25 times my investment within 2 or 3 days I refused & they got quite agitated telling me they are doing me the favor and questioning me as to why I was refusing their very generous offer & am I accusing them of being scammers. Eventually I did buckle to an offer of putting in another $250 and they would give me a huge bonus just to show me how much money they will make for me, as soon as I did this I was told to have a break &a bite to eat & Donavan Gray would get the bonus work out some trades & call me back , BTW I was referred to him BY Richard Bennett [ a name I have now seen in the scam reviews ] & while waiting for a call I believe is not coming decided to google them;,, surprise surprise surprise !!!!

    Rating: 1
  8. Like most folk here, I fell foul of the COINDAQ scam to the tune of £250.
    Pulled out when I realised things may not be as they seem, and am now battling to get my money back.
    I informed my bank on the day the transaction took place and have filed for a chargeback (good advice in the article above).
    I (just for the hell of it) have forwarded information to other organisations, such as the Fraud Office, Trading Standards and anyone else that should take notice in this.
    So yes I echo the comments above – STEER WELL AWAY FROM THIS!!!!

  9. Yes I think I have found out the hard way, I started out investing$250 us & got suckered in with 1 then 2 & finally 3 people on the line at once & I’m ashamed to say that I fell in the trap to the tune of$6000 aid & by the way they changed their name half way through to daqgroup.io saying that as a VIP Member I was upgraded ( con, scam ) come in spinner/ sucker. So I am in the process of trying to get my money back I hope , so beware all
    Regards Chris A !!!

  10. Ive gone to my bank and claimed fraud, there helping me get my money back, IVE BEEN THROUGH ALL OF THIS FOR THE LAST 6 MONTHS…. STUPID F&$KERS I’LL GET MY MONEY BACK!!!!!

  11. Daqgroup has born from Coindeq. It is a scam site so be aware!! Do not invest here! They will never give back your money and will make you to lose your money, saying “sorry, the market was not very good in the moment” and then they will ask you to put in more money to recover the lost sum. You cannot recover your money just after you talk by phone with them. Be aware!!! – They will tell you where to click and after 1-2 hours of waiting by the phone they will put you to trade, saying that these are obligatory steps for the withdrawal, and then you lose your money. The only way to recover your money is to ask for help from your Bank!! I had 500$ invested from two banks 250-250$. I asked for help from both banks where I have an account and they recovered me my money of 250$-250$. Before the Bank you should ask in email politely from the daqgroup to withdraw your money. AND DO NOT DELETE THE EMAILS sent and received from the daqgroup because they will serve as proof at the bank.

  12. I deposited 250 us dollar to my coin.ph and coin.io withdraw it. They promise me to teach me how to trade but they did not. So idecided to withdraw my money. Last march 24, 2021 they said that they will return my money within 10 to 15 days but until now i have not receive my money back. Please me me how to get back my money

  13. You should go to your bank and ask them to recover your money, saying that ir is a scam site, but you have noticed this after the transfer . They will do some research and in 5 days your money can be transfered back in youre bank account.

LEAVE A REPLY

Please enter your comment!
Please enter your name here

This site uses Akismet to reduce spam. Learn how your comment data is processed.