The broker CoiniPro’s name suggests that the broker has focus on cryptocurrency trading. It further fails to clarify trading accounts provided and trading conditions offered to its clients. The broker is not a legitimate license holder to provide brokerage solutions. We only know the name behind this brand – Soleno Invest SP. The company Soleno Invest SP is registered in Poland but the broker claims to be regulated by FINMA, a Swiss financial regulator. However, the claims of CoiniPro are not true. This CoiniPro review will be equipped with all the critical factors regarding the broker. Read the full CoiniPro review here.
The broker CoiniPro does not share much information about its offerings. There is no trace of provided trading accounts. Hence, we can say that the broker offers only one trading account. Also, no information about offered spreads can be seen. It just mentions that there is no commission charged on trade. The maximum leverage as high as 1:150 is provided on cryptocurrency trade. The cryptocurrencies are highly volatile in nature and the maximum leverage provided is humongous. Generally, 1:5 to 1:10 leverage levels are affordable. The broker offers a variety of assets that are assembled in many categories. Cryptocurrencies are traded against USD Tether and other cryptocurrencies. Also, Bitcoins are traded against indices, commodities, and stocks. Other assets can be traded against USD Tether. Sadly, cryptocurrencies are not traded against fiat currency like USD or EUR. A web trader trading platform is offered that is unproven and basic. It lacks many advanced features that can be seen in MetaTrader. CoiniPro allegedly claims to be based in Zurich, Switzerland. Swiss brokers must be regulated by the Swiss Financial Market Supervisory Authority also known as FINMA. The bottom of the official website features a company from Poland named Soleno Invest SP. Neither brand CoiniPro nor its owner Soleno Invest SP is regulated by any of the financial watchdogs across the globe. The unregulated brokers are not credible. Trading with such brokers, traders will lose all their findings made in it. At CoiniPro payments are made by Credit and Debit cards, wire transfer, Skrill, Neteller and other.
Is CoiniPro scam or legit?
The broker CoiniPro is an unregulated brand whose corporate status is confusing. It fails to provide critical information like minimum deposits and spreads. Also, the leverage of 1:150 on a volatile asset like cryptocurrency is massive. A web trader platform can be seen. The overall look of CoiniPro is like a potential scam broker 2020. Traders will lose their initial investments as well with this broker.