With the investment market experiencing a major rise in customers since the onset of the coronavirus, the numbers of scam and fraud cases have also witnessed a major surge. Although this market is considered to be the most profit-making market around the world but so are the cases of scams. On one side where millions of people earn money through the trade market, millions of people fall prey to cruel and ruthless scams. Cryptocoinboost is one such broker that we are going to review today in order to help our readers to save themselves from possible scams.
Like every other scam broker, cryptocoinboost too claims to be the best in town. Although not much information about this company or its whereabouts is mentioned on the website or the internet. Upon doing a bit of research, our team found out that this broker’s website is being operated from the United States of America. Most scam brokers would not pay much attention to their website set up. It would be a little difficult for people to access basic information of these scam brokers as they would provide every obstacle they can to prevent the potential victims from reading their terms and conditions.
The website states that they are registered with the regulatory authorities. This fact has been proven wrong as we checked on the official website of the regulatory authorities and realized that cryptocoinboost’s name has not been mentioned anywhere in regulated companies’ list. This is often observed as a very common tactic of these fraud brokers. They buy the contact details of people in bulk and call them randomly. In order to look more convincing, they would either clone another regulated company or lie about their license and credibility. Upon realizing that the customer is interested, they would roll out their bundle of lucrative schemes and fake returns to rope the victim in. Upon hearing impractical offers such as 100% bonuses and leverages as high as 1:400, the innocent victims are lured in. These fraud brokers would then continue to offer unrealistic schemes and compel the victims to deposit more and more money in return for double profits. The poor victims, unaware of the scam they are trapped in, keep depositing money in the hopes of getting twice the profit. The problems begin when the customer files for a withdrawal. When this happens, the scam broker starts giving lame excuses on why the withdrawal has not been processed yet. They then find the perfect moment to deactivate the victim’s account without prior information and then flee.
Is Cryptocoinboost a scam or legit?
Not having a license ticks off the major pointer of how a trading company can be a scam. Although the company claims to have a license and all the other things that a regulated company does, we found out that none of this is true. Therefore, Cryptocoinboost is a major scam and we do not recommend our readers to invest or trade with this unregulated fraud broker.