Read our Cointrade review to see why we do NOT recommend this broker for trading. Just to clear doubts, this is an cointrade.cc 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 Cointrade 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.
| Regulatory Body | Status |
|---|---|
| FCA (UK) | No record of authorization |
| ASIC (AU) | No record |
| CySEC (EU) | No record |
| SEC / CFTC (US) | No record |
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 Cointrade 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.
Cointrade Review Conclusions
Making the Cointrade 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 Cointrade 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.
[email protected]
They are crooks! NEVER, EVER put your money there. YOU will lose them!!! I sa the advert on youtube and registre with them, not knowing what am I going to experience. After multiple call from different landlines I decide to put 300 EUR in. They were very nice and polite before they saw my money in their account. When I started request a withdraw of the funds the this change drastically in their behaivor. I’ve been called many times and they told me I have to wait certain days to get my money back. If I want them faster they requested another 250 EUR, which obviously I am not going to send them. They come very aggresive and rude. I might have lost this 300 EUR but I hope my experience will help other people in falling întorc this trap. I don’t know how Youtube is allowing this type of fraud promoted on their platform. This is a shame! I have screenshots with the conversations with them but I am unele to post them here
I fell for these bandits too!
First at a place called “Immediate Edge”.
I had to deposit 250 euros and after 2 months I had 3500 dollars in my broker account. I wanted to cash out, but I always got the message “Sychronisation Error”. I wanted to complain, but I had neither a phone number nor an e-mail address. I now thought I was being very clever and to make a new application for appearances and then wanted to “speak to my advisor”.
They said that they had now taken over Immediate Edge’s business.
I fell for them again. That’s how stupid I was.
I couldn’t even react that fast , that’s how fast they took 500 out of my account.The bank won’t pay the money back because it was a transfer.
I have an address of these bandits: “Arnold Ivanov [email protected]“.
I wrote that they should pay me back the money immediately, otherwise I would report this to the Federal Criminal Police Office and the banking supervisory authority. I know that doesn’t help.
The domain is for the Cocos Islands. You can buy it for 19.95 euros. Our authorities are powerless against it. I got a bill from +44 161 660 7534
“[email protected]”
Internet address “www.specialgiftcards.co.uk”
I paid on gift card (as in some company).
The company remains anonymous. I will never get the money back.
But there is much worse : they can use my data to launder money. Then the police might be at my door and my account can be blocked.
They can also do evil deeds with my data.
Warning, warning, never do anything like that!
They have me to(cointrade.cc). I have an account whit them naw. I did a wire transffer and i been getting a call avery day to do a second . Not no more. [email protected] and [email protected] are the two rats tha got me. I will proceed to try to get my money A.S.A.P. thanks for the tip, i need all that i can get.
I deposit ~500€ but they were always asking to put more money because profits would be greater. I tried to transfer 1000€ more but (fortunately) I couldn´t, Then I start to be afraid and I asked for a complete withdraw of my money. I spoke with a man, by whatsApp and he just said he wouldn´t give me the money, because I promise I would transfer more and I have broken it.
Ami también han estafado estas o estos sinvergüenzas…Estaba viendo lo del volcan de la Palma…pensando donar algo…y lo hice..y .e salió el anuncio…ya me habían salido varios..y yo ni caso….pero le di…sin querer…y lo vi…y cuando acabo me llamaron…que si estaba interesada…que si ganaría mucho…Y yo le dije que me sonaba a estafa…pero con muy buenas palabras me convencieron…yo que tengo 68 años..y no sé utilizar mucho internet…y mucho menos la bolsa…y menos todavía las criptomonedas…me dijeron no te preocupes al principio estoy yo contigo…poesía lo que quieras invertir … y lo que estás dispuesta a perder y va todo automático y es un robot suoerinteligente que solo falla un dos o tres po ciento….venga métete e tú cuenta….descarga ANYDESK yo no sabía lo que era….si note que se metió en mi cuenta…con tarjeta de débito me sacó los 500€ que tenía en la cuenta…porque en una semana tendría el doble ella misma preparó un préstamo tamo .menos mal que al final era la hora de ir a por mis nietos y les dije que otro día yo no sabía ni el nombre de la empresa….pero me mandaron por correo unos documentos a través de Cripto patín que tenía 500€ en Criptomonedas….jyo no lo veía claro…me llamaron al día siguiente…para hacer el préstamo y les dije que mi marido no quería..yo ya me informé por todos estos comentarios y análisis que hacen que estaba en lo cierto y era una estafa…me volvieron a llamar.ar muchas veces…
Que ya había ganado 300 a la semana 1000…que convenciera a mi marido..empeze el 29 de noviembre y he estado todo este mes tratando que me devolvieran el dinero…y viendo que no…hoy he denunciado..a laComision de comercios…de E.stados unidos en la policía y he tenido que ir al banco a pedir una a anulación de cargo y a a largo la tarjeta y a la Guardia Civil porque tienen mi fotocopia del carnet de identidad..la del carnet de mi marido el n.de cuenta…he tenido que cambiar el pin….etc…etc…es increíble…no te dejan pensar…parece que te tienen abducida….ahora no me contestan…y cambian cada día de nombre con páginas falsas…documentos falsos…y haber lo que intentan hacer conmigo identidad..Así que ojo… que hay muchos….otros están regulados….en este mes me he informado algo que tenía que haber hecho antes de nada…
I did get the money back but i did know before i payed 300 Euro that this is not likely that i get i back. I did reed before about aquadrade what is actually the same “broker”
How the work: after registering via Criptosoft (web addresses also change from time to time.) I did get a call and i was asked to register to aquadrade (now cointrade absolutely same appearance only company name changed). I was asked to pay 300 Euro and via bank account. And send screenshots from the transfer. Right after that i performed a chargeback by explaining to the bank what happened and i did get the money back after two weeks. Within that time the called me again and asked me if i had withdrawn the money and i denied. Funny enough i fond 300 Euro on the platform. I got a call from someone else his name Name and mail address could be provided. Phone numbers change and the calls come from different tows in Europe. I was asked to give him access to my Laptop. What i denied because this would be to risky for me. I did ask him to give me some prove that i can trust him. And i would like to see how money can be transferred back first. He expand i only can withdrew 50 Euro otherwise my account would be cleared. So i decided to withdrew 50 euro. To do this i had to register to https://exchange.blockchain.com what i manned without help. The transferred 50 euro to a bitcoin cache wallet by sending the wallet address via email to them. He always wanted to help me by trying to get access to my PC. But i managed to to it without his help. He just had to explain what i had to do: Register with blockchain exchange and send the wallet address (payback from blockchain is a different story, but not to difficult without help). After some days he called again and i did make him think that i am relay interested to invest 50 000 Euros but i need some more prove that i can trust him. So he did send some paper that he is a registered broker. I did say this looks good but actually it did not help at all no address just a name – some fake form. Than i did say i would like to see how this 250 Euro would perform the next days. If the perform well we could go on. So an other 5 Days and the 250 Euro ware 950 Euros. Then i asked how much i can withdrew and he mad it possible to withdrew 650 Euro again via blockchain exchange. I promised do make a deposit of 25000 Euro if this works well. This was just before Christmas holiday helped to because some delay. So be careful and it may be possible to get this people cached as well. So actuality the have now lost 700 Euros. Funny enough it looks the never discovered that the Bank did a charge-back of the original 300 Euros. I surly will not go on and deposit more money to them. I did register again today to Cryptosoft. Teh same story started again. Actually the should know that i already registered to cryptosoft with the same Name and maladroitness and phone number, two moths ago when all started. Same procedure as the first time but this time i did not get on and pay 300 Euros to Cointrade. Still i get now spammed with calls i have to block. It would need more people to trick this people i this this will hurt them more.
A mi tambien me estafaron perdiendo 6000 euros. Cuando quise retirar mis ganancias en cointrade.cc me llamaron indicandome que tenía que pagar 500 euros de impuestos para retirar mis ganancias. Yo me negué a ello y ahora tampoco puedo entrar en mi cuenta de cointrade.cc porque me han bloqueado. Son unos estafadores no cometan el mismo error.
La pagina web es contrade.cc Te sacan todo el dinero que pueden y luego con argucias te quieren sacar mas dinero. Tener cuidado que lo perdeis todo.
Attention!!!
They are BIG CROOKS!!!
NEVER, EVER PUT YOUR MANY THERE!!!
I have an address of these bandits: “Arnold Ivanov [email protected]“.
And a name “Katerina”.
Szeretném kérdezni, hogy a cryptoeddu csapatától hogyan lehet pénzt behajtani, ha azt válaszolják hogy inaktivvá vált ????
Anyone of have scam experience with CoinNMC?