Read our Coinrise review to see if we recommend this broker for trading. Just to clear doubts, this is a coinrise.ca 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 Coinrise 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 Coinrise 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. Also, when these people change their website they tend to call the old clients, so if they call you from a new website please write it down on the comment or let us know it by contacting us. That would be really appreciated by us and families all over world. Also if you get phone calls from other companies please put the name of these companies also in the comment or send it to us. We will expose them too.
Coinrise Review Conclusions
Making the Coinrise 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 Coinrise 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.
Coinrise.co.uk is certainly a scam. All you said above is true .I have been a victim of their fraudalent schemes. Investors please beware .They are using this company 102113945Saskatchewan LTD as their place of operation. The address given is 736 Cameron St. Regina, Saskatchewan S4T2S1.
I recently tried to get my money out They have disabled my sign in and refuse to answer my e-mails SCAMMERS!!!!
They were like vultures on me when I first stepped into the game, and then after awhile forced me to deposit more and more money like 5k, 10k then 20k. However I requested a withdrawal just to see if I can get my full amount returned into my account, so I would know it’s legit, now withdraw request was done and been over a month now and no one is replying as if the company doesn’t exist, I have 3800 us on my platform account, hopefully I can somehow trick them to withdrawal by offering them more money? But definitely will go see my bank to do a charge back as it’s been almost 3 months that they conned me into this. I hope more People would do more research than myself and not get into this mess.
I totally agree with all that has been mentioned in the previous 3 review comments. Being new in this venture I started with the minimum amount and the trader assigned to me was nice at first but then kept insisting I deposit more funds. I did so now my investment is over $1200 CDN. He double this in a couple of weeks, then again insisted I deposit more funds as this small amount is not worth his time. I asked for a junior trader to take over my account and one did call but he insisted as well that i needed to add more funds. I have requested a withdrawal for about 1.5 months now and nothing. No responses to emails or any further calls.
They are total scammers and I now have to find away to get my money back.
After I asked them how they were going to comply with the new crypto regulations requirements in Ontario they gave me the line that there are no regulations in place and anyone saying that is lying.
I told the fellow that there is new requirements as of Jan 1, and that any exchanges/trading platforms (which he also swore up and down that coinrise was not, when it’s a heading in their website) have to comply or risk penalties under. He gave me some line that there’s no Canadian regulations and I had to cut the conversation off. I might have been born at night, but it wasn’t last night.
Best thing you can do is not use this platform as they’re not doing basic due diligence with compliance.
Coinrise very pleasant and helpfull when getting you to invest, not so much so when you attemt a withdrawall. email not active, phones not in service, chat doesn’t answer. Not good.
They are scamming people. I have been through so many issues with them. They are very nice when asking for investment. They will convince you to invest more and more into crypto. And when it comes to withdrawal they will ignore you. I lost $2200. Giving my honest review so that you don’t make the same mistakes.
Save your money and invest in a real/popular/trustworthy platform. Stay away from these guys.
I was only researching and they already started calling me immediately! They threatened me once I said I’m not interested and to remove my information. The Support email and the Marketing emails do not exist. Their little Chat person, (Linda Ross) told me that “…no doubt 100s and 1000s of salespeople from all industries will now call you.”
What scum they are! I am sad to think they probably do bully some people in depositing money into their grubby hands. BAD NEWS! DON’T EVEN CLICK ON IT!!!
TOTAL SCAM DO NOT GIVE THEM A DIME. These people are scum on earth.
DO NOT TRUST COINRISE. Like other dissatisfied customers I found them to be completely focused on sales but their customer service literally does not exist. I don’t think they have a customer service department at all. They do not respond at all to email requests nor do they have a phone number to call.
COINRISE scammed me of my money so stay away from them.
They initially want you to start with $250USD in your account and withdraw a small amount to verify it works. Then they will ask for more money later since they don’t want to work with small accounts. James, the broker will make trades on your behalf, hopefully, making profits and your account grows. Later, another broker, John will call to convince you that you should deposit a wire transfer and make significantly more profits investing in ETH. Usually the broker makes all trades in your account but I decided to make a trade myself to learn. I opened a trade but I couldn’t close it for a profit since it kept giving me an error message. I tried several times, resetting my computer, my cell phone, logging in/out of the account, etc. I tried calling my 2 brokers. No answer. Tried the website chat, email and they have no phone contact. No reply from anyone. Getting scared since I didn’t want to lose on the open trade. They use fake addresses in Canada but the brokers are working out of UK.
I lost $2000 CDN.
Without question you should stay away from coinrise and if they call you hang up. They only want your money. I agree with all the comments above. I received a call about two years ago and invested 250. After about a year a received another call from a John Price who told me he was the senior manager of the trading floor and he was now my account manager. My 250 had not increased in value all this time and suddenly it started to show profits. Mr Price wanted me to invest anotherr 50,000 which would but me in the highest focus for the best trades. He kept insisting that I should invest more so I eventually invested yet another 8,000. This amount very quickly grew to over 20,000 so I decided to withdraw a large portion. After several days without receiving my withdrawal I did hear back from Mr. Price who said he would see why my withdrawal request had not been honoured. That was the last I heard from anyone at cointise and still my funds remain in their account. Clearly I was scammed and I will do anything to recoup my money. If anyne can help me please let me know.
With all the deception and lies in this world today it is sickens me how a company like coinrise is able to exist in Canada and do this to honest people. Their day will come and I hope they all end up in jail for a very very very long time.
SW
100% a scam I lost 8k. I don’t think there is any way to get it back.