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
- Verification
- 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
| Website | https://www.coinrushtrade.com/ |
| Phone Number |
|
| support@coinrushtrade.com | |
| Address | 164 Kallang Way, Singapore 349248 |
| License | — |
| Minimum Deposit | $500 |
| Assets | CFDs |
| Leverage | Up to 1:888 |
| Trading Platform | WebTrader |
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.
Trading Platform
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.
Verification
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.
Additional Options
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.
Contacts Review
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.
In conclusion, Coin Rush Trade is fake and operates anonymously. Opening an account here or, more importantly, transferring money is not advisable. The risk of losing everything is exceedingly high.
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.
I can't say anything positive about the company Coin Rush Trade.
This company lacks reliability and security. It can’t be considered a profitable platform for forex and CFD contract trading. To start, the company operates without any regulation. In other words, the broker doesn’t have a license, so you should be aware of this. The absence of regulation raises serious potential issues for traders:
The company doesn’t answer to a regulator, which means it can do as it pleases. For instance, it can manipulate (fabricate) any quotes it desires, forcefully offer bonuses, extort money, create obstacles for traders, and most dangerously, withhold funds.
Traders have no safeguards. If a company has obtained government regulation, essentially it offers insurance. In the event of the broker’s bankruptcy or scam, a trader may receive compensation for losses, perhaps not the entire amount, but at least a portion.
There are no guarantees that the broker will operate honestly; it can choose to scam, even if everything appeared transparent and fair before.
You see, there are numerous risks associated with dealing with an unregulated broker like Coin Rush Trade. Moreover, the company has other negative aspects and red flags. For example, its short period of operation. In fact, the scammers don’t even disclose when they founded the organization because it happened recently, and they don’t want to speak the truth. In reality, Coin Rush Trade came into existence in August, meaning it’s a very recent establishment. Such a short duration indicates that the firm hasn’t yet established a reputation, acquired clients, and essentially hasn’t proven anything. It’s not advisable to trust companies that have been in existence for such a brief period, as they could easily turn out to be scams.
So, trade only with licensed brokers that have been in the market for a considerable period. This way, your funds will be in a secure place rather than in the hands of fraudsters as they are here.
I can't understand why this company still exists.
It appears to be a broker, but, in reality, it’s a typical scam, the true nature of which becomes apparent over time. Coin Rush Trade likely fabricated positive reviews or wrote them themselves because, with a sound mind, it’s challenging to find anything positive about this broker. I deposited $1,000, and they immediately deducted $100. They then restricted my withdrawal options and ignored all my inquiries. There are no explanations. I can say one thing – it was far from a pleasant experience, and I strongly recommend avoiding this company!
CAUTION! FRAUD!
On the Coin Rush Trade trading platform, there are no actual trades happening. Scammers manipulate charts and create a show, eventually persuading you to gather money and deposit several thousand dollars to engage in high-stakes trading. This high-stakes game ends in a massive failure.
Another deceptive Project
This is another deceptive project. The website cannot be trusted. The scammers will not allow you to withdraw your money from this platform. However, sometimes, to deceive clients further, they provide the opportunity to withdraw a small sum of money, only to later demand more significant investments. After the scam, they resort to threats, claiming they will take legal action against you and using psychological tactics for further manipulation.
DO NOT GIVE ANY TRY
LURE YOU WITH LITTLE EARNINGS AND MAKE YOU INVEST EVEN LARGER SUMS WHICH WILL NOT BE ACCESSIBLE. AS REPORTED BY 9 VICTIMS TO US. STAY CLEAR OF THIS WEBTRADE.