Overview of Coinsoft Review:
The procedure and technique of these scam brokers might differ from one to another but the end result is the same, the innocent and unsuspecting trader is left hopeless with all their hard-earned money gone. Afraid of being scammed? Do not worry! We, at Forex Scams Australia, will review the scam brokers and give detailed explanations on why the red flags are there so that you can steer clear of these brutal scam brokers and earn tonnes of profits. What do you have to do? Nothing! Just share these reviews with your loved ones and help them out as well.
Coinsoft claims to be a forex broker that works dedicatedly towards helping its customers make profits. However, this claim of theirs is destroyed at the moment we land on their profile. Coinsoft is a shady forex broker that operates out of St. Vincent and the Grenadines. Everything about this broker is so shady that we do not understand how people are able to ignore these major red flags. The fact that the company does not have regulation from any of the top-tier regulations should be enough for you to steer clear of this company. If not, here are a few more reasons why you shouldn’t trade with Coinsoft.
Coinsoft Minimum Deposit and Leverage:
Minimum deposits and leverages are common places where scam brokers try to lie and lure the customers in. The usual minimum deposits demanded by the legitimate brokers lie in the range of 5 to 20 USD. In our case, Coinsoft demands a minimum deposit of 250 USD which is clearly a huge amount to be asked for.
The scam brokers often list high leverages in order to make the offer irresistible for the traders. In our case, Coinsoft offers leverage up to 1:400 as compared to the normal offers such as 1:30 and 1:50. This raises another red flag against the Coinsoft scam in this Coinsoft review.
Coinsoft Trading conditions:
As bizarre as this sounds, a common trait of scam brokers is to add ridiculous clauses to the terms and conditions to trick the customers. Remember all the times you agreed to the terms and conditions without reading? You will think twice before doing that from now on. When we went through the terms and conditions provided by Coinsoft, we came upon several weird clauses which did not let the traders withdraw the profits that they earn. Furthermore, it also states that the company has the right to charge the traders with any amount of withdrawal fees at the time of their choice. This is not only ridiculous but also a clear indicator of the major scam run by Coinsoft.
Conclusion: Is it a scam or legit?
To sum up, all that has been stated above, we can safely say that Coinsoft is a complete scam. We recommend our readers conduct proper research before investing or trading with a brokerage firm. If you have been scammed by Coinsoft, file a complaint now and get solutions for fund recovery that are tailored according to your requirement.