Should You Trade with Coinmax?
Coinmax is a broker that has gotten a lot of attention, but not the positive kind. The SEC has flagged Coinmax as a suspected fraud. This is because it has received many complaints and those who have researched the broker have found some problems. This is reason enough to stay away, but looking at Coinmax, we can identify certain issues that we see with other brokers.
There Are Some Things You Should Know Before Trading with Coinmax?
For one thing, Coinmax guarantees returns, such as 90% return in 15 to 25 days or 150% in 40 days. It is highly unlikely that the broker will actually be able to deliver to these preposterous claims, especially trading highly volatile assets such as cryptocurrency. No legitimate broker should be trying to guarantee returns at a specific level. In addition, Coinmax is not regulated, which is enough of a reason to stay away.
We Found the Following Problems With Coinmax:
-
Not regulated
- Misleading information
- No transparency
- No contact information
- Bad reviews
What if You Have an Account with Coinmax?
We create these reviews to warn consumers about brokers and schemes that may be fraudulent. If you have an account with Coinmax close it and request a withdrawal. If you are not given your money back, contact Broker Complaint Registry right away. We will consult with you, work to track down your funds and create investigative reports, and will assist with fund recovery efforts.