Broker Review: Coin Sage FX
The broker Coin Sage FX claims to be involved in legal activities and fulfilling obligations. However, the lack of reviews about the company raises doubts about its honesty. We decided to conduct an independent investigation to verify the truthfulness of these claims. This will help you form an objective opinion.
Coin Sage FX Real Work Experience
The duration of Coin Sage FX’s work is unknown. The company’s website does not provide information about its experience, making it difficult to assess the broker’s reliability. Using the WHOIS service, we determined that the company started its operations in July 2022. The broker has nothing to hide; there simply hasn’t been enough time to accumulate reviews.
One of the key criteria for determining a broker’s credibility is the quality of customer service. However, Coin Sage FX does not show concern for its clients. An example of this is the use of a fake email address.
Furthermore, the phone number listed on the website corresponds to the numbers of other brokers, such as Crypto Crest FX and Zeta Trade Forex. Further investigation revealed that these companies are clones of Coin Sage FX, maintaining the same story and offerings. Reviews of them are negative, associated with fraud and failure to pay profits.
Coin Sage FX Legal Documents
The broker claims to be registered in Malta and to have an MFSA license. However, the verification showed that this is inaccurate information, and the license from the Maltese regulator is missing.
Publications regarding compliance with BaFin, FCA, Consob, MIFID, and AMF rules are also false. Reviews of the broker’s clones, launched earlier, indicate violations of rules. Collaboration with well-known liquidity providers is a fabrication. Coin Sage FX does not have licenses from the Central Bank of Russia and the Agency of the Republic of Kazakhstan, confirming its fraudulent nature.
The company provides services in the CIS, ignoring legislation. There are no reviews regarding the financial reliability and solvency of Coin Sage FX. Most likely, the broker will face a negative reputation and investigations by affected investors.
Attracting Novices
The broker promises quick order execution, protection against negative balances, and funds storage in separate accounts. The platform offers a wide range of financial instruments, 12 tariff plans, and various bonuses. However, the reliability of these promises has not been confirmed.
Platform Reviews
The absence of reviews about Coin Sage FX allows scammers to confidently attract new clients. However, analyzing reviews of similar brokers shows negative user experiences.
Nature of Fraud
The broker Coin Sage FX employs deceptive methods to deceive investors. The scheme includes offering bonuses, lack of transparent conditions, and refusal to withdraw funds until specific requirements are met. Such actions lead to financial losses for traders.
Review Summary
An independent analysis of Coin Sage FX shows that it is an unreliable broker aiming to deceive investors. Beware of such offers and warn others about the risks of falling into the trap of scammers.
I’ve had a terrible experience with Coin Sage FX. Their customer service is absolutely woeful. Each time I had a query or issue, I was met with unhelpful and clueless customer representatives. There is a serious lack of transparency in the way they handle their clients’ funds. I was also subject to hidden fees that were not initially disclosed. Their trading platform is quite difficult to navigate and lacks advanced features for seasoned traders. Moreover, their withdrawal process is a nightmare, full of hurdles and unnecessary delays. I’d strongly advise anyone to stay away from Coin Sage FX. It’s just not worth the stress and potential financial loss.