Coin U Be: customer reviews about the company’s performance in 2022.
Security Analysis of Trading at Coin U Be
The platform Coin U Be claims that its main goal is to provide safe and convenient trading. However, numerous reviews indicate that behind these statements lies a typical offshore scammer planning thefts and extortions. In this expert review, we will examine the signs pointing to Coin U Be being a financial fraudster. We will also provide the results of the analysis of the legal framework and terms of cooperation.
Company Description of Coin U Be
According to information provided by Coin U Be, the company started its operations in 2019. According to their data, the platform has 35,500 traders registered (although elsewhere it mentions already 190,000 individuals). It is also claimed that the daily trading volume amounts to $110 million, with 380,000 orders placed daily.
A whois check revealed that the broker’s website has been in existence since 2018, but old data indicates that it was inactive for a period of time. Only becoming actively functional in 2022, this may indicate the deliberate purchase of an old domain for certain purposes.
Communication with Coin U Be’s support is difficult, as evidenced by reviews online. A fake phone number and the lack of the ability to resolve technical and financial issues indicate that the company is focused solely on registration and balance replenishment, leaving users to deal with problems on their own.
Legitimacy of Coin U Be’s Activities
Dubious transparency and secrecy could describe Coin U Be. Without providing scanned copies of necessary documents confirming the legality of its operations, it claims to collaborate with regulators such as FCA (UK), FSC (Mauritius), IFSC (Belize). However, a check of regulatory authority registers showed that Coin U Be operates without licenses to provide brokerage services.
Even if Coin U Be had licenses, it would still be risky for traders from CIS countries to work with it, as the company operates illegally in several countries where there are no licensing authorities to protect traders’ interests.
Services Offered by Coin U Be
The company attracts users with low entry thresholds and attractive commissions, offering a choice of over 200 trading instruments. However, like many other financial scammers, Coin U Be does not offer risk-free training opportunities. Upon registration, one must choose a contract and top up the balance with funds.
- Amateur. Minimum deposit amount – $150 with unclear terms and promises of quick deals.
- Trader. Opportunity to invest in PAMM, leverage 1:500, minimum deposit – $1,000.
- Investor. Initial contribution – $10,000 with access to global indices and ETFs.
Reviews indicate the impossibility of withdrawing funds from the balance, confirming suspicions of fraud.
User Reviews and Fraud Methods
Reviews of Coin U Be have only recently begun to appear; however, it is already evident that the company is not intending to collaborate honestly. Scammers lure large sums of money from clients and then disappear.
A comprehensive review shows that the threat of being financially deceived could be real, and the decision to use Coin U Be’s services is as risky as attempting to earn on this platform.