Is CoinTradax legit?
CoinTradax is an unverified crypto broker with no legitimate background information. If you have deposited money with CoinTradax and you suspect that they are not being honest with you, it may be possible to get your money back. We’ll be shedding light on whether they’re a scam in the coming paragraphs.
Even regulated brokers along with unregulated companies and investment firms have been found to be scams. Under many circumstances there are avenues in place that are there to protect individuals and help them to get their money back. If you have been scammed by a company like CoinTradax we advise you to be on the lookout for recovery scams. In most instances, cryptocurrency cannot be recovered. If you are fortunate enough to be reading this prior to depositing your money, this Cointradax review will help you avoid getting scammed in the first place.
Is CoinTradax a scam?
Despite what any CoinTradax review has told you, CoinTradax is a confirmed crypto scam. We don’t recommend trading with them. If you are already trading with CoinTradax we recommend you immediately cease depositing any amount of funds with them, in particular if they are asking for a fee to withdraw your money. DO NOT PAY IT.
Scam Website: cointradax.com
The CoinTradax Scam
CoinTradax is an unlicensed broker that showed up out of nowhere and has no accountability or credibility. The Cointradax website claims that you can make 15% daily. This claim in it of itself is enough to know that this company is a scam. Just to make sure though, Cointradax wrote their claim in broken English. “Providing the stable income 15% daily”.
In addition to the Cointradax website being registered very recently, it’s hosted on a server that contains many low quality websites. Cointradax also only allows payments in cryptocurrency, which is not a surprise. Cryptocurrency is the preferred method of payment for crypto scams because cryptocurrency is not recoverable and the scammers often get away scot free.
Looking for a regulated broker? Check out our Fortrade Review to see if they’re right for you.
Can I get my money back from CoinTradax?
If you used your debit or credit card or you’re dealing with a regulated broker we can let you know if and how it’s possible to recover your money. We can also let you know when it’s not possible and that you should cut your losses and avoid getting scammed by a recovery scammer. In the case of CoinTradax the same is true. Unfortunately all of the reports thus far have been from individuals who sent their money using cryptocurrency. It’s still possible that there will be some sort of recourse if enough individuals have been involved. This usually requires the input of government watchdogs or law enforcement. Be in touch with us to see if we can provide upcoming information.
If you want a regulated broker with a good reputation, have a look at our review of Fortrade to see if they’re right for you.
If CoinTradax has done anything similar to the below items, you are most likely being scammed by CoinTradax.
Legal Signs of a Scam
- The company or broker is not regulated.
- The company or broker is regulated by a foreign regulatory body that is not trustworthy.
- The company is regulated by CySEC. (this is not a sure sign that the company is a scam however many CySec regulated companies turned out to be scams)
- The company has had its license suspended.
Contact us by submitting your information in the form on the page. We’ll let you know as soon as possible how you can get your money back.
Behavioral Signs of a Scam
- The broker has been overly pushy in getting you to deposit your money.
- The broker does not react positively when you ask for a withdrawal.
- The broker does not allow you to withdraw your money.
- The broker has offered you or pushed you to take a bonus.
- The broker has logged into your personal computer.
- The broker is charging you to withdraw your funds.
- Trades have been placed without your consent.
- The company withdrew funds from your account or charged your credit card without permission
- The broker asked for a picture of the front and back of your credit card to be sent by email.
- The broker asked for your government form of ID to be sent in an email or on the website.
- The broker told you to place a trade and then you immediately after lost all or most of your money.
Locations that scam brokers are often found in.
If the broker that you’re dealing with is located in any of the below locations it is reason for concern, as these areas are notorious for hosting Forex scams as well as Crypto and Binary Options scams.
Let us know right away if any of the following is true about your broker.
- The broker is located in Saint Vincent and the Grenadines
- The broker is located in Belize.
- The broker is located in the Commonwealth of Dominica
- The broker is located in the Cook Islands.
- The broker is located in The Marshall Islands.
- The broker is located in Mauritius.
- The broker is located in Seychelles
- The broker is located in Vanuatu.
Know your rights and get your money back. By filling out your information, we’ll be able to advise you right away.
If you are looking for a broker that you can trade with and feel safe because of regulatory protection, check out our latest review of Fortrade.
Disclaimer: It is not always possible to recover lost funds. Many cases of recovery scams have been reported where the victim is guaranteed to get their money back. We can assess your case and advise you right away if it’s possible to recover your money.