Binary options are prohibited in the European Economic Area. Between 74-89 % of retail investor accounts lose money when trading CFDs.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

CoinBrokerz Broker Review 2019

  • Min. Deposit N/A
  • Min. Invest N/A
  • Return N/A

When we first visited CoinBrokerz’ website, we got the impression that CoinBrokerz was a cryptocurrency exchange. However, after browsing on the site we realized it is a CFD cryptocurrency broker.

We further discovered another issue: CoinBrokerz isn’t regulated nor does it have any appropriate license to offer the services advertised.

The company behind the CoinBrokerz CFD broker is an offshore company and they don’t possess a license from any regulatory body.

We were not able to open an account with CoinBrokerz or access the CoinBrokerz trading platform during the process of this review. It is possible that there is some kind of bug on the website, or they removed this function completely.

However, there is no notification of any kind that would inform traders of what is going on, and how come these features are not available.

This raises a lot of questions regarding the functionality of this broker. We are not sure if they can even provide cryptocurrency CFDs or any kind of trading services to the traders. It’s definitely a warning message to anyone interested in this CFD cryptocurrency broker.

You can find more details about CoinBrokez in our review below.

CoinBrokerz Special Features

CoinBrokerz has a separate section on their website and the following features are listed:

Accounts

  1. CoinBrokerz accepts all leading credit cards as well as Bitcoin and Ethereum cryptocurrencies
  2. You can choose an account type to suit your requirements and goals
  3. It is possible to open an anonymous Bitcoin account

Trading

  1. There is no download required in order to start trading
  2. CoinBrokerz provides high leverage to assist you in the investment process
  3. Fast and lag free trading platform for maximum profitability

Safety

  1. Fully anonymous trading is available for Bitcoin accounts
  2. A variety of secure deposit methods are available

Utilities

  1. Up to date news about cryptocurrencies
  2. Live Bloomberg video stream
  3. Widgets to alert you of new opportunities

The Anonymous Bitcoin account might sound interesting, however if you take into consideration that this broker does not have any kind of license this must be considered a very high risk.

CoinBrokerz Bonus

This broker does not promote any kind of bonus to their traders.

We would like to remind you that both CySEC and FCA regulatory bodies have banned any kind of bonuses for CFD brokers. It is good to see that this broker is following their guidelines regarding bonuses.

CoinBrokerz Trading Software

Taking into consideration that we were not able to access the CoinBrokerz trading platform, we were not able to test it and we can’t provide additional information about the CoinBrokerz Trading Software.

CoinBrokerz Education

On the top menu of the CoinBrokerz website, there is an Education section. We were very happy to see this and we were hoping to get more information about cryptocurrencies, cryptocurrency trading, and cryptocurrency CFDs.

However, the information provided under the Education section is not very detailed. Basic explanations of Bitcoin, Ethereum, Ripple and Litecoin cryptocurrencies are available, as well as the definition of cryptocurrencies in general.

They published a few more words about cryptocurrency CFD trading on their website and that was it.

We have to admit that we were disappointed.

CoinBrokerz and Bitcoin

CoinBrokerz has a separate section about Bitcoin. This is not a surprise since Bitcoin still presents the most popular cryptocurrency.

In this section they provide short information about the definition of Bitcoin and Bitcoin wallets. They also mentioned some information about the transaction fees and the anonymity that Bitcoin provides.

Two Youtube videos are also embedded on the website and both of the videos are trying to explain what Bitcoin is.

CoinBrokerz Customer Support

Coinbrokerz has an English, Russian and German version of the website currently available.

You can get in touch with customer support using email or phone. There is a UK phone number listed on the website. The broker also provides a separate phone number for Russian speaking traders.

We tried to reach customer support via email but we did not receive any reply.

CoinBrokerz Compliance

The compliance section consists of several links to the important legal information about CoinBrokerz. You can find their Terms & Conditions, Privacy Policy, KYC Policy, Anti Money Laundering information, Implemented Procedures, Additional Disclosures and basic information about Deposits and Withdrawals.

CoinBrokerz Payment Methods

Bitcoin and Ethereum cryptocurrency deposits are both accepted as payment methods. CoinBrokerz claims to accept all leading credit cards as well, but we did not find any additional information about this.

CoinBrokerz also accepts bank wire payments.

After you make a deposit, you will have to provide the following documents to their compliance department.

  1. A copy of your valid passport with the signature page
  2. A copy of your credit card, used to make a deposit (the front side with only the last four digits visible, back side with the CVV covered)
  3. A copy of a recent utility bill in your name and address (Max last 2 months)
  4. A signed purchase history of your online transactions

CoinBrokerz Company Information

Qossla Holdings Limited is the company behind the CoinBrokerz CFD broker. This company is a subsidiary of Bitcom Limited, a company that is registered in the St. Vincent and the Grenadines.

Even though there is a UK address in the footer of the CoinBrokerz website, after we checked the Terms & Conditions section we realized that we are dealing with an offshore broker here.

The FCA (Financial Conduct Authority) recently released a warning against trading with CoinBrokerz. They want to warn all investors that broker may be involved in scam activities which may end up stealing their money.

The FCA believes that CoinBrokerz has been providing financial services to UK citizens without their authorization.

We would like to remind you that the FCA is the financial regulatory body in the United Kingdom and the fact that they issued a warning against this broker is definitely not a good sign.

CoinBrokerz - Review Conclusion

  • Accepts cryptocurrency deposits
  • FCA warns against unregulated broker