ALERT | Coinsdeskfx.com Review: Is it Legit or a Scam

Coinsdeskfx logo
1
Rated 1 out of 5
Scam Company
1 out of 5 stars (based on 1 review)

COINS DESK FX LTD INVESTIGATION HIGHLIGHTS

Item Description Website Information
COMPANY NAME:
COINS DESK FX LTD
COMPANY ADMIN:
Unknown
REGULATION:
Unregulated
HEADQUARTERS
FLOOR 29 30 ST MARY AXE, LONDON EC3A 8BF, UK
OPINION ON SOCIAL MEDIA AND REVIEW SITES:
Negative
PRIMARY PHONE NUMBER:
+447418359935 (UK)
CONTACT EMAIL:
info@globalcryptomint.com (invalid - can’t receive email)
WEBSITE URL:
WEBSITE IP:
198.244.229.148
IP COUNTRY:
United Kingdom of Great Britain and Northern Ireland
DOMAIN CREATION DATE:
2022-05-04
HOSTING:
OVH SAS

Disclaimer: The information on this document was based on information gathered during the website investigation period. Please note that the information provided might be outdated because there might have been changes on the investigated website (i.e. website had been suspended or website had changed owners and changed its content).

What is COINS DESK FX LTD About?

As stated on the website of Coinsdeskfx, “We engage in binary trading and cryptocurrency. We take care of investing and managing money. For our clients, Coins Desk FX Ltd is committed to building lasting value. A significant milestone for the business’s performance is the provision of risk-free bitcoin investment products, tradings, and forex to international investors. 

Coins Desk FX Ltd was established in 2019 and registered with the (EU, FSA, UK, and ICF) under reference number SC92553D under the business name DSO AD Limited Company. DSO AD LIMITED manages financial products on this website in compliance with the markets for various financial instruments. With our cutting-edge equipment, fair pricing, and low exchange rates, we guarantee the highest caliber of service. We provide you with a comprehensive and top-notch service thanks to the collaboration of several banks and other payment businesses.” (Quoted from the Coindeskfx website.) 

Reading this one can get the impression that it is a cutting-edge foreign exchange agency, but the reality is quite the opposite: Coindeskfx is claimed to be acting in suspicious ways and tricking innocent individuals out of their hard earned wealth.

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What is Coinsdeskfx.com Offering its Customers?

Recent claims made by Coinsdeskfx, a website under investigation for possible fraud, claimed to give users trading opportunities in investment offers as well as a variety of other services.

Many people, however, are unaware of the fact that everything on their website is fraudulent and inaccurate. They have four types of different plans for their clients as you can see on the image.

Is Coinsdeskfx.com Legit or a Scam

Coinsdeskfx is suspected of being a fraud; trading with unregulated offshore brokers is extremely dangerous, which is why we only advocate authorized brokers. I certainly would not engage with this business myself and would not advise anyone else to do so either! Why you may wonder?

For instance, it is demonstrated that brokers who are governed by the FCA (Britain) and CySEC (Cyprus), two agencies that implement strict legislation to guarantee the protection of clients’ money, are both safe. Increased capital requirements for broker license (€730 000), client account segregation, risk-reducing measures such as leverage restrictions and negative balance protection, and separation of client accounts are all necessary laws.

While clients of CySEC brokers have the option of claiming up to €20 000, if not more, in compensation, the UK’s protections are much higher at £85 000 per person! Most importantly, both regulators keep the money from deposit insurance! Of course, trading with brokers who are not regulated leaves you defenseless and open to fraud risks.

Is Coinsdeskfx.com Licensed?

Coinsdeskfx.com is unregulated and not licensed! Additionally, the Financial Conduct Authority has placed the company on its warning list of unlicensed businesses in the UK.

Coindeskfx Licensed

SOURCE: https://www.fca.org.uk/news/warnings/coins-desk-fx-coin-desk-fx

On the website, Coinsdeskfx.com mentions that it is a regulated company by the FCA but it isn’t true. ‘This firm is not authorized by us and is targeting people in the UK,’ the FCA declares firmly. If something goes wrong, you won’t have access to the Financial Ombudsman Service or be covered by the Financial Services Compensation Scheme (FSCS), making it unlikely that you’ll receive your money back.

Moreover, when we looked up the license in the site we found that the license number is fake because unders the Companies House (CH), which is the UK’s business registry, we found a different name showing.

Similar or Duplicate Websites Detected

We found that Coinsdeskfx.com has a similar website. Upon further investigation, we found that their structure and offers are similar and we didn’t find any mention of affiliation between the websites. On the list, Coinsdeskfx.com seems to be the website which was made during mid-2022. Both sites even share the same fake license. We suspect that this might be a network of unauthorized offshore brokers or the sites could be involved in a scam network.

Similar Site

Furthermore, the terms and conditions are lacking. The policy lacks the legal requirements of a company offering financial services. It doesn’t have a clear withdrawal policy. This is bad for website transparency because a website offering financial services should have all the legal documents available.

Coinsdeskfx.com Opinions on Review Sites, Social Media Platforms, and More

The first clue we look for when figuring out whether a certain service is legitimate or fraudulent is ownership. Who is in charge of providing the service? When this information is missing, as it is with Coinsdeskfx.com, there is a good chance that we are dealing with a scam. Why else would they want to hide who they were? In fact, we don’t know anything about Coinsdeskfx owners.

There is only a contact form and an email address (helpdesk@coindeskfx.biz) on the website for Coinsdeskfx.com. Not even a phone number is provided.

We looked all over the internet for good reviews and client comments, but we came up empty. This even explains why the business hides crucial information from investors. Other than that, we were unable to locate any online reviews, which is likely a result of how new the site is. Given everything mentioned above, we think it is very evident that Coinsdeskfx.com is a scam.

Accepting Money

Comparing Coinsdeskfx.com To Well Established Businesses in The Same Industry

Coinsdeskfx.com looks promising on paper but if we look more closely at a trustworthy company like Binance. A greate online broker should have legal transparency meaning the terms and conditions, withdrawal policy and similar documents are ready to be accessed by users. Moreover, it will be a great relief for potential customers to know the people who they are dealing with and not just a site offering promises of high returns.

How To Get Your Money Back if You Were Scammed by Coinsdeskfx.com

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First and foremost, you need to notify the police. Next, contact your local regulators and other law enforcement organizations that deal with fraud and crime. Deactivate your cards as soon as you can, and call your bank to inform them of what happened. They can provide you with important information and help you avoid further financial stress.

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Once you consult with us, we will be able to help you solve your problem and refer you to the top asset recovery firms that will get your money back!

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