Today, we are about to uncover the whole truth about Coin Rush Trade. In this review, we will reveal the unsettling reality behind this platform and address the serious concerns of potential scams.
- Coin Rush Trade General Information
- Registration and Client Portal Review
- Coin Rush Trade Trading Conditions
- Account Types Review
- Trading Platform
- Coin Rush Trade — Deposit and Withdrawal of Funds
- Additional Options
- Is Coin Rush Trade a Scam?
- Legal Information and License
- Coinrushtrade.com Domain Info
- Contacts Review
- Pros and Cons
- Frequently Asked Questions (FAQ)
Coin Rush Trade General Information
|Address||164 Kallang Way, Singapore 349248|
|Leverage||Up to 1:888|
Registration and Client Portal Review
The official website of Coin Rush Trade greets visitors with an image of a skyscraper, seemingly aiming to make an impression. However, it falls short of doing so. In general, the website leaves a rather lackluster impression, perhaps due to its color scheme or the minimal amount of information provided. What’s more, the website is only available in English.
Remarkably, it is impossible to register an account on this platform simply because there is no registration button in sight. This glaring omission is a significant issue for several reasons.
Firstly, it raises questions about the transparency and legitimacy of the platform. Reputable trading platforms typically ensure a clear and accessible registration process to attract and engage potential users.
Secondly, not offering an evident registration option leaves potential users in the dark about the platform’s terms, conditions, and security measures. Without the ability to create an account, users cannot review the platform’s policies, assess its commitment to safety, or understand the services it provides.
Coin Rush Trade Trading Conditions
Well, let’s move on to exploring the trading conditions of this broker.
Account Types Review
Coin Rush Trade presents a range of three trading account options with initial deposits starting at $500, $5,000, and $10,000. Your choice of account type dictates the level of leverage available. The Mini account level offers an astonishing 1:888 leverage, while the other account types provide a more reasonable 1:200. It’s important to emphasize that even the reduced leverage of 1:200 remains considerably high and fails to conform to standards upheld by most regulatory authorities.
Additionally, across all account types, traders can expect instant execution and daily complimentary market analysis. In the higher-tier account options, a personal account manager is also at your service.
The web trader offered by Coin Rush Trade exhibits several noteworthy shortcomings, casting a negative light on the overall trading experience.
The absence of a dedicated desktop or downloadable application is a notable deficiency. This limitation restricts traders to web-based platforms, which can be less reliable and less feature-rich compared to dedicated desktop software. Furthermore, it hampers accessibility when users are without an internet connection.
The web trader offers only a basic set of features, falling significantly short of traders’ typical expectations. Advanced tools for technical analysis, automation capabilities, and customization options are notably absent. These shortcomings limit a trader’s capacity to implement intricate trading strategies and hinder their decision-making processes.
The platform also suffers from a scarcity of technical indicators. An effective trading platform should provide a wide array of technical indicators to assist traders in making informed decisions. Unfortunately, this web trader offers only a rudimentary set, potentially leaving traders feeling ill-equipped when analyzing market trends.
Coin Rush Trade — Deposit and Withdrawal of Funds
Coin Rush Trade provides deposit options through bank cards and bank transfers. For clients who open a Premium account, Skrill is available as an additional deposit method. However, the broker noticeably disregards any information regarding fees and the entire withdrawal procedure. This includes the processing times, eligible payment systems for withdrawals, and other related details, which are conspicuously absent.
Coin Rush Trade mandates client verification. However, the process raises questions about how one can undergo verification when even registration on the website is impossible. The typical verification process often involves submitting identification documents, proof of address, financial information, and other personal data in accordance with regulatory compliance standards. Yet, without a functioning registration process, this requirement becomes puzzling.
Among the additional options offered by the broker, we can only identify daily analytics. However, given that all team members at Coin Rush Trade remain anonymous, we would strongly advise against paying too much attention to this option. The credibility and quality of such analysis are highly questionable, considering the anonymity surrounding the platform’s operators.
Is Coin Rush Trade a Scam?
The trading conditions offered by this broker have failed to make any positive impression on us. Consequently, we now shift our focus to a critical aspect: evaluating its legitimacy.
Legal Information and License
Nowhere in the provided documents does the name of the managing company and its registered address appear. While the contact information specifies Singapore, we conducted a thorough check in Singapore’s registry and found no record of any company bearing the name Coin Rush Trade. To be thorough, we extended our search to countries where phone numbers were provided, but we encountered the same lack of results. It appears that Coin Rush Trade simply lacks official registration in any jurisdiction. Consequently, it operates without the required license, misleading traders by providing services unlawfully.
Coinrushtrade.com Domain Info
Regarding its experience in the financial markets, the situation is equally disheartening. We conducted a domain verification, revealing that Coin Rush Trade established its website on August 17, 2023. As you can appreciate, dealing with such a newly established broker in the market is not advisable. It’s highly unlikely that you’ll discover financial success or “get-rich-quick” opportunities here.
Coin Rush Trade offers multiple phone numbers, an email address, and, as previously mentioned, an address in Singapore for contact. However, considering that it lacks legal registration in Singapore, it becomes dubious that this address would lead you to an office with welcoming managers. It is more reasonable to assume that this broker exists solely in the virtual realm and has no physical offices on the ground.
Pros and Cons
- None of significance.
- Lack of transparency.
- Nonexistent registration.
- Coin Rush Trade’s operators choose to remain anonymous, raising suspicions about their intentions and credibility.
- No account registration.
- Questionable experience.
- Legitimacy concerns.
Frequently Asked Questions (FAQ)
This broker offers CFD trading and some related services.
The minimum deposit, according to the broker’s trading conditions is $500.
No, it is not. We conclude that Coin Rush Trade is a typical scam, and it’s best to avoid any involvement with it.