BEWARE of Verticoins – review of an ILLEGAL broker

In this Verticoins review we address the problems and complaints about this broker.

Verticoins reviewVerticoins is an online platform designed for cryptocurrency trading. You can trade manually, but there also is an automated trader that can open and close trades for you.

We hear that Verticoins is promoted as a platform that can make you money on autopilot. Is it true?

Stay away from Verticoins

Verticoins scamVerticoins has a typical problem. It tries to look like a cryptocurrency exchange, but in reality it is a broker.

An exchange would let you buy cryptocurrencies directly and you would be able to withdraw them to your crypto wallet(s).

A broker will let you trades derivatives, financial contracts which values are derived from crypto prices. But when you buy or sell these contracts, you are not becoming an owner of any cryptocurrency.

Both ways of trading have their pros and cons, but the important thing is that trading with derivatives is regulated, brokers need licenses in order to be able to offer this type of trading legally. Since Verticoins is offering automated trading, it absolutely has to be regulated.

But Verticoins is not regulated, it has no license and we believe that the German address that is shown on its website is fake. Or to be more precise, the address exists, but Verticoins is not located there. One of the hints is that none of the phone numbers of Verticoins leads to Germany.

The first conclusion of this Verticoins review is clear, this company is an unregulated and illegal crypto broker.

Verticoins complaints

Verticoins complaintsWe made an online research about Verticions’ reptuation and the results were not good. For example there is a story of one person who said that Verticoins were pushing him to deposit more and more and showed him virtual profits to persuade him.

But when the client wanted to withdraw money, Verticoins became unreachable for him. This behavior is typical for scam brokers, they show you virtual profits that you cannot withdraw and they just want more deposits from you.

Verticoins review conclusion

Verticoins is an illegal cryptocurrency broker that we hear complaints about, stay away from it!

If you want to trade cryptocurrencies, start on a free demo with a regulated broker to try it risk free with virtual money.

If you later decide to trade with real money, be sure to understand the risks and use only money that you can afford to lose.

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Verticoins
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2 thoughts on “BEWARE of Verticoins – review of an ILLEGAL broker

  1. I got sucked in a little. My Account was eventually reading over $2500.00.
    Tried to withdraw some and all of a sudden they have gone!
    All emails addresses I had are being retuned “not Found”.

  2. Total scam organisation. I lost all my life savings to these scum. These people were also involved with Cryptonics scam before they were dismantled.
    Their current FALSE address is listed as European Insurance and Occupational Pensions Authority (EIOPA). That is not their address.
    DANGEROUS
    Their trading page showing currency price tracking is nothing more than a video game. This website is hosted by GoDaddy and their subsidiary but will not remove it.
    Typical false names used by their scam operatives are
    John Bucchi
    Rebecca McCann
    David Fitzburg
    Teddy Woods
    Yes they encourage you to send them more and more money. They have been kicked off Kraken and Bitstamp for money laundering and theft
    Typical false telephone numbers, amongst a numerous others are
    4102637410
    02039662062

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