Bestcoin is a contract for difference (CFD) broker with an official website established on October 1, 2023. It primarily offers financial trading services such as stocks, futures, stock CFDs, cryptocurrencies, and more to investors. The headquarters address is undisclosed, and the broker does not provide services to jurisdictions where it may violate local laws or regulations.
Corporate Registration Information and Regulatory Status:
Bestcoin's official website does not disclose its corporate entity registration information or regulatory status. Additionally, there is no available information on its corporate entity and regulatory status.
Company Background:
Bestcoin claims on its official website to have been founded in 2014, dedicated to blockchain services with a focus on technology and channel development. The company states that it has experienced periods of growth from 2013 to 2016, a frenzied period of "buying coins to get rich" in the first half of 2016-2017, and the cold winter period from the second half of 2018 to the present day, solving problems for dozens of service providers.
Account Opening:
To open an account with Bestcoin, users need to click on the "Signup" button in the upper right corner of its official website. Account registration requires providing a phone number or email to receive a verification code. Afterward, users set a login password and submit. The broker does not support mainland Chinese phone numbers and emails.
Account Types:
The broker's official website does not mention the account types it offers, trading spreads, minimum deposit amounts, maximum/minimum trade volumes, maximum position sizes, trading leverage, trading commissions, overnight fees, and other key trading information.
Trading Platform:
Bestcoin only provides a self-developed Webtrader trading platform for users, and the download link for the mobile trading platform is invalid.
Deposits and Withdrawals:
The broker's official website does not disclose the supported deposit and withdrawal methods. It claims to provide offline protection for user funds, and withdrawal requires binding an ID card and undergoing advanced authentication.
Customer Support:
Bestcoin's official website does not disclose any contact information, and there are no communication channels provided.
Summary:
Traderknows advises investors that Bestcoin lacks information about its physical company and regulatory status. Critical trading information such as account types, trading spreads, minimum deposit amounts, maximum/minimum trade volumes, maximum position sizes, trading leverage, trading commissions, overnight fees is not disclosed. It only offers a web-based self-developed trading platform, and the download link for the mobile version is invalid. The links to "User Agreement," "Privacy Policy," and "Legal Disclaimer" at the bottom of its official website are also invalid. Additionally, the broker has no communication channels, unclear deposit and withdrawal methods, and as of November 28, 2023, its domain registration is less than two months old, contradicting the claim on the official website that Bestcoin was founded in 2014. These signs suggest that the website may be fraudulent.
Therefore, Traderknows recommends investors to choose trading platforms with transparency, legitimate regulation, and a good reputation to avoid unnecessary financial losses. As of now, Bestcoin is marked as "suspected fraud" on Traderknows.
