BEWARE of CoinPro Exchange – illegal broker review

CoinPro ExchangeThis review gives you reason why not to trade cryptocurrencies with CoinPro Exchange.

CoinPro Exchange allows you to speculate on cryptocurrencies price movements. You can trade through five different accounts, minimum deposits start at $250.

But it is not a good idea to use CoinPro Exchange

Stay away

First of all, CoinPro Exchange is in fact not an exchange, but a broker. This means that you won’t be buying or selling cryptocurrencies directly with it, only indirectly through CFDs. You won’t own any cryptocurrency.

This is not necessarily a bad thing, but…

Illegal broker

Company infoOnce you offer crypto trading through CFD, you are a broker and you need a licence valid in every country you are targeting.

Since the phone number of CoinPro Exchange leads to the UK, it obviously is present in the UK and targeting UK customers. But it has no licence from the Financial Conduct Authority, which means that it is operating illegally.

With unregulated brokers your money is not protected in any way.

Real user negative experience

One of our readers sent us her story about how she lost big money with CoinPro Exchange. This is also a huge read flag:

“I just don’t want other people to make the same mistake. It was 25 000 pounds. 

I’m a Nurse and my salary isn’t much more than that annually. They were pressuring me to put more in and constantly using different tactics. 

I was directed to their sight through coindesk.com and thought I was buying Swedish coin. Then once the money was in there I couldn’t get it out and it’s been 2 months of hell. 

Now I’m ignored. 

It’s terrible that people take advantage of novices like this, I was new to this industry and wet behind the ears. They completely played me and took my 25 k in two months. 

They put and out lied. They aren’t financially regulated as they are based in Cyprus. 

Thank God I didn’t put more in. They were pressuring me too. 

I even think they were manipulating the platform.

It’s all a total and utter scam that has dragged on for two months and almost broken me. 

But yes I will trite something and give you all the facts. 

My money has gone but I just don’t want them to do it to anyone else!! 

They have no ethics, no morals and are just ripping people’s life long savings any way they can.”

Conclusion

CoinPro Exchange is an illegal broker that people have bad experience with, we recommend staying away.

If you want to trade cryptocurrencies, start with a free demo with a regulated broker.

Be sure to understand all the risks before you possibly start to trade with real money.

Summary
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CoinPro Exchange
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