CoinPayment FX is a forex broker whose official website domain was registered on June 21, 2022, mainly providing investors with trading services in financial derivatives such as forex, stocks, indices, energy, metals, and ETF contracts for differences (CFDs). The broker does not offer services to judicial jurisdictions that may violate local laws or regulations.
Corporate Registration Information and Regulatory Status:
Public information on the CoinPayment FX official website reveals that the broker comprises multiple corporate entities, regulated by various authorities. Among these, CoinPayment FX Ltd is authorized and licensed by the Cyprus Securities and Exchange Commission (CySEC), with license number 1780019. CoinPayment FX (registration number HRB11677B) is a designated agent of Ultra Booster Trade Ltd registered with the Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin) in Germany. Additionally, the broker was authorized on October 2, 2017, by the Financial Services Commission (FSC) of Mauritius as an investment dealer, under license number C17554381. TVH Ltd is authorized and regulated by the Financial Services Authority (FSA) of Seychelles, with license number SD0175.
However, upon verification of the public information on its official website, the Cyprus Securities and Exchange Commission (CySEC), Bundesanstalt für Finanzdienstleistungsaufsicht (BaFin), Financial Services Commission (FSC) of Mauritius, and the Financial Services Authority (FSA) of Seychelles have no regulatory registration information for this broker.
Account Opening:
To open an account with CoinPayment FX: Visit the broker's official website, click on "SIGN UP FOR FREE" on the homepage or "SIGN UP" at the top right corner of the webpage to enter the account registration page. Fill in personal information such as name, email address, and set a login password for submission. Once the application is submitted, the account is successfully registered.
Account Types:
CoinPayment FX offers users a demo trading account and four different types of trading accounts: STARTER, BASIC, PRO, EXECUTIVE. However, its official website does not disclose details such as spreads, trading leverage, margin levels for calls/stops, contract sizes, trading commissions, minimum/maximum trade volumes, maximum number of positions/orders, and minimum price granularity.
Trading Platform:
CoinPayment FX provides users with a proprietary trading platform.
Deposits and Withdrawals:
CoinPayment FX supports deposits and withdrawals via local banks, electronic wallets, or cryptocurrencies.
Summary:
Traderknows reminds investors that CoinPayment FX is a scam platform providing false regulatory information, with its website design and content identical to those of brokers such as Sterling Asset, FS Main, Venus Mining, Upfront Fx Trade, Safe Invest Trades, and Reliable Bitcoin Mining. Traderknows advises investors to choose brokers that are transparent, strongly regulated, and have a good reputation for their investment and trading activities to avoid unnecessary losses to their assets.
Currently, this broker is marked as "Suspected Scam" on Traderknows.
