Cryptocoin Centre Review: Why You Shouldn’t Trade With This Broker
Cryptocoincentre.com is an brokerage firm that offers cryptocurrency trading. They however. However, do not possess enough qualities to gain our trust. Here’s why we think Cryptocoin Centre might be an offshore broker.
Forex trading is an increasingly lucrative modern market. And as such, it is subject to modern problems such as online scammers and illicit broker websites. So in order to keep traders from them, we have made it our duty to review forex broker websites, then help you tell which one is legit and which one’s not. This review tells you all you need to know about Cryptocoin Centre.
About Cryptocoin Centre Broker
Cryptocoincentre.com is a business website owned by Cryptocoin Centre Broker; a UK-based brokerage company. Or is it in the US? Because in the ‘Contact Us’ section, beside their UK address, there’s a google map location that pins them down somewhere in New York. They claim to be dedicated to trading cryptocurrency and only that.
Needless to say, the inconsistency in the address provided wasn’t the only red flag we found. That is the reason for this review.
Cryptocoincentre.com: Reasons to Stay Away
Your won’t be safe if you trade with Cryptocoin Centre and here’s why;
Cryptocoin Centre Withdrawal and Deposit
When it comes to minimum deposit amount, Orbicapital is impressive. They stick to the $100 for wire transfers, and $10 for every other method. This almost makes it seem like they’re trying to convince you to use other methods.
The payment methods orbicapital.com accepts include; debit/credit cards, NeTeller, wire transfer, bitcoin and etherum. The last two methods are cryptocurrencies, payment methods only used by scam brokers. Crypto transactions are untraceable, hence you cannot request for cashback in case of fraud.
The terms and conditions section of orbicapital is incredibly short, and does not reveal any form of useful info. There’s no withdrawal fee, dormancy fee or anything else that’s important to forex brokers. This is a very important part of brokers that only scam brokers can take for granted.
Cryptocoin Centre Trading Platform
Cryptocoin Centre does not offer the MT4 or MT5 trading platform. What they bring instead, is merely a shadow compared to these other two. It is a web-based trading platform that provides an extremely basic trading environment with a generally poor design. On the bright side, the platform offers Demo as well as Live trading.
This doesn’t change the fact that we would always trade with brokers who use either the MT4 or MT5 trading platforms. These platforms are top of the market for a reason and they provide superb trading options and conditions.
Cryptocoin Centre Licensing and Regulation
Nothing in the Cryptocoin Centre Terms and Conditions section suggests that they’ve been registered or licensed by the British Financial Conduct Authority. But having claimed to be located there, we checked the FCA registry and were unable to find them.
Cryptocoin Centre clearly operates outside broker regulations. Hence, they are an offshore brokerage firm and cannot be trusted with funds.
Is Cryptocoincentre.com a Legit Broker?
No. Cryptocoin Centre is an unlicensed broker, operating outside any regulatory agency. Hence, they are a threat to anyone who trades with them. We therefore advise you deal with a transparent broker who’s licensed by a reputable agency.
If however, there’s something else you wish say about this broker, do mention it in the comments section.
Our Recommendation For You
You can make money online by trading with reputable, reliable and trustworthy brokers. We’ve been trading with the Fortrade broker below for sometime now and we have no regrets!
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FORTRADE- One of the Top rated brokers and a good choice for new traders. This broker is Licensed in UK(FCA), Australia(ASIC) and Belarus(NBRB). Guess what? you can trade from any part of the world as it accepts Traders Worldwide. Interested in trading with one of the best Forex brokers? Head Over to Fortrade and start trading!
