Is COINIBANK scam or Legit? – ScamHelpers Investigation shows that it is a scam.
Website – https://coinibank.co/
Why COINIBANK is a scam?
COINIBANK was added to the Ontario OSC’s list of warnings.
The Ontario Securities Commission (OSC) warned that COINIBANK does not have permission to trade securities in Ontario. COINIBANK is an unlicensed forex broker that claims to be an online forex and CFD broker but offers no information regarding its rules. Unlicensed brokers may be easy to spot because they don’t have any information about regulations, while licensed brokers always put their credentials in a prominent place. This raises a red flag.
The Ontario Securities Commission (OSC) also sent out a notice saying that COINIBANK did not have permission to trade securities in Ontario. The fact is that no regulators are overseeing COINIBANK. It is risky to allow this broker to hold or handle investors’ money, and there is no legal safeguard for that money. As a result, it is a fraud.
If you are scammed by COINIBANK broker, you can file a complaint in the complaint form on top. You can also share your experience with the broker as a comment.