Introduction to I-Coin Review-
The Forex market is the legit market, where the exchange of currencies takes place. But, it has some limitations too. The surge in forex scams is increasing rapidly and if we go on researching about the forex scams, the list is never-ending. The increase in the popularity of the forex market has resulted in the increase of scams. The scammers are now way ahead of the investors and know various software and tools that will lead you to misinterpret the information. They will gather your details in a very smart way that it is difficult to judge them. Various scam brokers offer larger returns in a short period of time as compared to the other brokers existing in the market.
It is always advisable for investors to do thorough research before investing their funds with any broker. To make your research process easier, the Report scam presents you with the reviews of various brokers that will guide you in choosing the most appropriate broker. I-coin review is one among them. Let us get in detail about the I-coin scam.
About I-coin Broker Review –
I-coin is an offshore broker and web-based platform said to be trading in the cryptocurrencies like Bitcoin, Ethereum and Ripple, and Litecoin. It is also said that Fiat currencies and CFDs are also offered by them. The I-coin assures the investors that they will earn constant returns, despite the changing market conditions. Along with this, the registration and authority of the broker are not known, which clearly indicates the major red flag of this broker. The Financial Markets Authority, New Zealand has also issued a warning against this broker claiming it is a potential scam and money laundering.
The broker offers their investors a trading facility on mobile, tablet, and laptop. They claim to introduce the features that will bring ease to investors while trading. The information mentioned on their website is very basic and does not clearly state the details. 4 Accounts are offered by I-coin named Basic, Silver, Gold, and VIP with a minimum deposit of $10,000, $10,000, $25000, and $50,000 respectively.
Potential Scam Activities of I-coin Broker-
Several other red flags of I-coin review are mentioned here, that will let you know that I-coin is not a legit broker.
- Offshore broker with no regulation and legal authority.
- The fund withdrawal time here is 10 and 15 business days. Meanwhile, the legit brokers process the withdrawal request within 24 hours.
- If you are not trading for straight two months, your account will be deemed as deactivated with a 10% monthly inactivity fee, whereas the legit brokers apply an inactivity fee only after a year.
- The most effective trading platform, Meta Trader 4 is not supported here that leads to difficulty in trading to the traders.
Is I-coin Scam or Legit Broker?
Various investors have complaints against this broker that they keep changing their terms and conditions. Also, the above-mentioned points are sufficient to conclude that I-coin Ltd. broker is a potential scam and one should refrain from trading with them. Report scam suggests you read the reviews here before going ahead with any broker. Also, we guide you in the fund recovery process of any scam.