In this Verticoins review we address the problems and complaints about this broker.
We hear that Verticoins is promoted as a platform that can make you money on autopilot. Is it true?
Stay away from Verticoins
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.
We 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.