If you have an account with Coiniswap (coiniswap.com), you should ask for a refund now. The BCSC has warned the public against Coiniswap (coiniswap.com). The BCSC is a top-rated broker, and it’s important to pay attention to any warnings it issues.
To keep your money safe, check this site regularly for updates on suspected scam brokers. We investigate brokers fled by the FCA and create reviews that will give you the information you need to stay safe from trading frauds.
What Is the BCSC?
The BCSC or the British Columbia Securities Commission is an independent body connected with the Canadian government. Its responsibility is regulating financial markets and overseeing financial companies, including brokers. The BCSC is an authority that should be paid attention to, and when they flag a broker, there is a good reason.
What Are Some Problems with Coiniswap (coiniswap.com)?
The fact the Coiniswap (coiniswap.com) appears on the BCSC’s watch list indicates that it must have at least one of the following serious problems.
Coiniswap (coiniswap.com) has a questionable license. It may not have an up-to-date license or any license at all. Also, Coiniswap (coiniswap.com) could be violating the terms of its license and may be signing up customers in the UK or other countries without authorization.
Exaggerations and statements that can’t be validated are commonly made by questionable brokers. Fake brokers often rely on hype rather than credentials when trying to recruit new customers. This misleading information can cause the BCSC to slap a warning on them and caution clients to stay away.
Lack of Transparency
It seems the BCSC couldn’t find enough information about who runs Coiniswap (coiniswap.com). It’s possible that names, locations, and other details couldn’t be verified. It’s common for fake brokers to adopt pseudonyms and use stock photos. Addresses probably couldn’t be located on Goooglemaps.
One of the most common signs of a fraudulent broker is a lack of access to client accounts. There is no reason for a broker to deny a client access to their money. If Coiniswap (coiniswap.com) gave excuses, charged high fees, or ignored withdrawal requests, it’s a serious concern.
Plenty of customers complain on review sites, but regulators deal with complaints differently. They check and validate that claims are genuine before issuing warnings. Therefore, since Coiniswap (coiniswap.com) has been flagged by the BCSC, you can be sure the reasons have some foundation.
Have You Lost Money to Any of These Brokers? 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 the scam brokers mentioned here 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.