Is COTP a Good Broker or a Scam?
One thing is worse than not having a license–a broker who fakes a license. That is the case with COTP, which falsely claims to have a FINCEN certificate. This can mislead people into trading with a broker that actually is unlicensed. We don’t recommend any unregulated broker, particularly one that isn’t honest about not having a license. In fact, COTP is an alleged MLM scam, which means the purpose is to get clients to recruit other clients when no services are actually being offered.
We Have Some Concerns with COTP
Another problem with COTP is that it has a false guarantee of returns. COTP says clients would earn a 4% ROI. This isn’t realistic at all–legitimate brokers return 5% to 7% every year, not every day. COTP shows all the signs of being a scam and we would therefore not recommend opening an account with them. They aren’t licensed and are a suspected MLM and a possible scam.
COTP Red Flags
- No license
- False statements about license
- False guarantees
- No transparency
- Negative reviews
Lost Money to COTP? Talk to Us!
ReportScamOnline experts understand brokers–reliable ones and scam operations. We have researched brokers and have created these reviews to help consumers make the right choice for trading. We recommend that you avoid COTP and instead find a reliable and licensed broker. If you have lost money to this broker, contact us and we will launch an investigation that will bolster your claim.