Coinsfxmarket – the company describes itself as a cryptocurrency investment company on its corporate website. Coinsfxmarket enables its customers to make profitable investments in bitcoin. At the same time, Coinsfxmarket is an expert in the field of Bitcoin mining.
This is carried out at regular intervals so that customers receive regular interest. Furthermore, Coinsfxmarket states on its own website that the operating company of the website is Coinsfxmarket LLC.
If you are thinking about investing with Coinsfxmarket or if you are already a customer of Coinsfxmarket, the following considerations are certainly crucial:
- Are there any empirical values on this topic from other investors from which conclusions can be drawn?
- Can the financial service provider be classified as reliable?
- Does the provider have a licence from a state financial supervisory authority in Europe?
These points are discussed in this article by the legal advisors of the Herfurtner law firm, who advise their clients in banking and capital markets law, among other areas.
Table of contents
- Coinsfxmarket Review: safe investment platform?
- Warning notice
- Excursus – general information
- What to do in case of losses with Coinsfxmarket?
If you have any doubts as to whether Coinsfxmarket is making a serious offer, we are at your disposal and will advise you on your questions and also on any problems. Please send us your message via our contact form. Our lawyers are available for a free initial consultation.
Coinsfxmarket Review: safe investment platform?
According to the self-disclosure on its own website, Coinsfxmarket offers its customers three different investment plans. In order to benefit from these, a minimum deposit of 300 US dollars is required. In this context, it is possible to pay in Bitcoin, Ethereum or Skril, among others.
Basically, the trading fees would be reasonable for all traders. Moreover, customer data is particularly secure due to complete data encryption.
Details of Coinsfxmarket’s services can be found on the company’s English-language website at the URL https://www.coinsfxmarket.com/.
The naming of the responsible persons is a sign of transparency. At the time of writing, Coinsfxmarket’s website does not contain any information on the persons responsible for the company.
Can I find an imprint?
In the Federal Republic of Germany, there is a general obligation to provide imprint information in accordance with §5 of the German Telemedia Act (TMG). This obligation to “identify the provider” applies to all commercially operated websites.
This is because this information is intended to inform visitors to a website who is behind the website. In addition, the address of the website operator plays a role if legal claims are to be enforced against him or her.
In this context, it is also important to note that the provision of an imprint also applies to companies located abroad that conduct their business activities in Germany. In March 2022, there was no imprint on the website of Coinsfxmarket.
Each web server is identified by a unique numeric code. This so-called IP address enables a web browser to target hosts in order to retrieve website content.
Our lawyers have found the information for the provider Coinsfxmarket on 15/03/2022 with this result:
Domain Name: coinsfxmarket.com
Registry domain ID: 2672651827_DOMAIN_COM-VRSN
Registrar WHOIS Server: whois.namesilo.com
Registrar URL: https://www.namesilo.com/
Updated Date: 2022-02-04T07:00:00Z
Creation Date: 2022-02-03T07:00:00Z
Registrar Registration Expiration Date: 2023-02-03T07:00:00Z
Registrar: NameSilo, LLC Registrar IANA ID: 1479
Registrar Abuse Contact Email: firstname.lastname@example.org
Registrar Abuse Contact Phone: +1.4805240066
Address and contact details of Coinsfxmarket:
- Tel.: not available
- Postal address: 5 Preston Court, Burton Latimer, United Kingdom, NN15 5LR
- Mail address: info@Coinsfxmarket.com
- Provider: Coinsfxmarket LLC
In the event that difficulties arise, the long distance between the provider and the investor can make it difficult to clarify them. As a rule, investors within the European Union enjoy a little more security and more chances to enforce their claims – also and especially in case of losses – if necessary with the help of a lawyer.
Is the provider officially regulated in Europe?
Information on authorisation and supervision by a European state financial supervisory authority such as the Autorité des marchés financiers (AMF, France), the Comissao do Mercado de Valores Mobiliarios (CMVM, Portugal) or the Commission de Surveillance du Secteur Financier (CSSF, Luxembourg) is not available on the WWW page of the financial service provider in March 2022.
Therefore, it cannot be assumed without reservation that the financial service provider has the licences required for business operations in the European Economic Area.
Do authorities publicly warn against Coinsfxmarket?
Financial supervisory authorities and law firms publish notices at regular intervals. It cannot always be assumed that this is a case of fraud. At the time of writing, the lawyers of the Herfurtner law firm were not aware of any official warnings concerning Coinsfxmarket.
Excursus: Dangers of trading through manipulated software applications
The offer of a free demo account, in which manipulated software comes into play, is particularly perfidious. Fraudsters profit from the fact that such demo accounts are provided by reputable brokers and try to gain the trust of the unsuspecting investor.
Fraudulent providers use fake software through which users can simulate trading. In principle, one always wins more than one loses. Accordingly, after some time the user has the feeling that he has mastered not only the software but also the markets.
At this point, he starts to invest real capital, whereby the financial providers have fulfilled their goals. Another tricky aspect is the theoretical possibility of so-called phishing or identity theft. In this case, fraudsters hijack the private data of the victims and try to gain access to the current accounts of their victims.
Losses with Coinsfxmarket – Recommendations for action
Have you lost capital in investment deals? Then you should act promptly. First of all, you should refrain from making additional deposits or additional payments. It is also advisable to ask the service provider about the reasons for the losses and to find out what prospects are available to compensate for the lost deposit.
Furthermore, you can seek an exchange with our legal advisors and exchange views on Coinsfxmarket.