Cointeck.io Review: Safe Or Scam? cointeck is a relatively new CFD broker focused on the cryptocurrency market. This company is supposedly located at 75 Exploration Dr., Leicester, LE4 5NU, UK and could also be reached via live chat on their platform or through the mail address provided on their contact us page.

How Does cointeck Work?

Cointeck.io runs six account types: Basic, Bronze, Silver, Gold, Platinum and Black Accounts respectively. However it only accepts a minimum of $250 on it’s basic account. According to the information on their web page, Apart from featuring around-the-clock live support and delivering world-class solutions to clients, they constantly monitor users trading funds and protect them in segregated accounts.

+ ADVANTAGES

• They accept a wide variety of crypto CFDs, almost thirty six pairs with major coins like; Bitcoin, Bitcoin Cash,  Ethereum, Ethereum Classic, Dash, Zcash, Ripple, Monero e.t.c
• They accept various payment methods, including e-wallets.
• They accept a considerable minimum deposit, which is inline with many brokerage services.

-DISADVANTAGES

• There is no option to pay with Bitcoins
• They are not licensed. The company behind this brokerage service is CCLR Limited – an Estonia based company which from our investigations is not licensed to provide such services.
• High Spreads. When tested with a demo account their BTCUSD spread was fixed at 75 USD which is unlike the norm of 50USD.
• They demand for a lot of fees, apart from the 3.5% service fee for all withdrawals they also collect a profit clearance fee and a monthly maintenance fee.
• No MetaTrader4 supported. What they offer is a web based trading platform which lacks many classic trading solution.

Conclusion

Our major problem with this broker is that it is unregulated. This is a sufficient reason to avoid its services.

Our Recommendation

You can invest in cryptocurrencies like bitcoins, ethereum e.t.c and make profits. Lots of investors are keying into this huge promising opportunity which is the rave of the moment.

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