CoinFinex Review Coin Finex, Scam or Reliable Cryptocurrency Broker

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CoinFinex Review: Coin Finex, Scam or Reliable Cryptocurrency Broker?

Bitfinex is a cryptocurrency exchange that provides its services via a web-based platform and a mobile app. Bitfinex is operated by iFinex Inc., a Hong Kong based company. iFinex Inc. (BVI) operates as a financial technology company. Bitfinex offers the most liquid order book in the world, allowing users to easily exchange the major cryptocurrencies. Bitfinex is one of the world’s largest and most advanced bitcoin trading platform that is more suitable for experienced traders. The platform offers leveraged margin trading through peer-to-peer funding market and users are able to create their own charts, monitor and edit their orders and positions, track their trading history and wallets movements. Security of funds and user information is top priority, security systems are constantly upgraded and tested to ensure that Bitfinex is exceeding industry-best standards. Fees at Bitfinex are relatively fair when compared to the competition, they are 0.20% for the “takers” and 0.10% for the “makers”. Bitfinex supports a selection of 20 cryptocurrencies and the overwhelming majority of system funds are stored in offline, cold wallets.

The 2020 hack was a major blow to the company, Bitcoin worth approximately $72 million was stolen from Bitfinex users. Bitfinex first announced the security breach on August 2, 2020. The bitcoin was taken from users’ segregated wallets and Bitfinex has been tracking down the hack. Significant hacker funds transactions were signed off by Bitfinex’s security provider, without full security. The U.S. Commodity Futures Trading Commission ordered Bitfinex to pay a $75,000 fine for offering illegal off-exchanged financed commodity transactions. The company issued the so-called BFX tokens, to the victims. Due to financial regulation changes in the State of New York, certain Bitfinex services are no longer available for New York Residents.

Payments to and from Bitfinex can be made via cryptocurrencies, to deposit or withdraw fiat currencies to or from your Bitfinex account, you will need to go through the verification process. Processing times for verification can take up to 5+ weeks, depending on the level of public interest. Verification is essential for users wishing to deposit/withdraw fiat currencies; however, you are free to deposit, trade and withdraw cryptocurrencies, and can do so immediately upon signing up. On the official website, you can not find a live chat but you can send a message anytime via email. The customer support should be better and they should try to resolve problems of their clients faster. Bitfinex is active on Facebook and Twitter. This is definitely a good and reliable exchange but according to the user reviews this exchange should try to be more “user-friendly”. As the interface and the exchange’s features are failry complex, I highly recommend that new traders take the time to become fully acquainted with all relevant aspects before depositing any funds or engaging in trading.

Experiences with Bitfinex

Despite getting hacked and losing $72 million in customer funds, Bitfinex remains a popular option for serious traders. Because of its complex interface, it’s probably only a good choice for traders with good experience. The following quotes give you a sense of what other traders think about this cryptocurrency exchange:

  • Definitely, if you are looking for an easy and friendly exchange/wallet, Bitfinex is not for you
  • I had a positive impression about this site before I had to open a ticket with their supporting team to resolve my 2FA problem. Has already been 12 days and they have not reply to my ticket
  • A functioning website is expected, but having to wait for 2 weeks for the support team to reply (still not resolved) is simply unacceptable
  • It is an excellent exchange, very fluid. and fast interface and very clear accounts in transactions, customer service is excellent, respond within 24 hours after the consultation, good security, and easy to withdraw all funds
  • Been using Bitfinex for over a year now and I’m happy with their service. Even how they handled the hack some time ago, all the services on top of just trading, the UI is advanced, but if you know your way around it, it works fine

Our top recommendation: regulated, reliable Crypto Exchange: Review Visit site


CoinFinex is a cryptocurrencies broker. Coin Finex offers the CoinFinex crypto online trading platform. offers bitcoins, ethereum, litecoin and other cryptocurrencies for your personal investment and trading options.

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Coins247 Review: Scam Crypto Broker?

Coins247 Review: Scam Crypto Broker?


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Last Updated: Dec 21, 2020 @ 1:23 pm

Coins247 offers trading in a wide range of Crypto currencies. The platform states that they are the best way to buy, sell and trade leading Crypto currencies like Bitcoin, Ethereum, Ripple and many more. The platform is allegedly powerful and with strong security. In addition to this, Coins247 is offering us their service with minimal fees. In fact, they claim that this is the preferred trading platform for Crypto currencies. We take this claim with a pinch of salt because there is no way a website that was created two months ago can have so many users who even considers it the best destination for trading Crypto currencies.

As a matter of fact, the domain was created in September 2020. It was registered anonymously but on their website, they tell us that the company behind the website is known as Sheffieland Limited and the company that handles payments on behalf of the platform is known as TM Capital LTD. TM Capital LTD is incorporated in Bulgaria on the physical address 1505 Sofia City, Sofia District, Metropolitan Municipality, Slatina Region, 21 Brichebor Str., app 4.

On the other hand, Sheffieland Limited is allegedly incorporated in Dominica under the registration Number 2020/IBC00303. According to the Coins247 website, the address of their company is situated at 8 Copthall, Roseau Valley 00152.

Coins247 also provides a support telephone number and email as well. This telephone number suggests that Coins247 is either based in the UK or one of their representatives is based in the UK.

So the question is, can we trust Coins247 with our money? Is this one of the safest trading platforms for Crypto currencies?

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In the meantime, we want you to consider trading Crypto currencies using these reliable trading apps. Traders around the world have voted them and according to the their trading performance, we have no doubt that they are some of the best trading tools you can use on the internet today.

Coins247 Review

On this platform, you can trade a combination of the world’s most popular Crypto currencies. There are 4 different types of trading accounts offered by Coins247, and with all of these accounts, you can access leverage too.

The features of the accounts are as follows:

Basic account

Minimum deposit is $250 which is capped at $10,000. The maximum leverage provided on this account is 1:10. This account offers platform walk-through for beginners and there is also access to an account manager. Basically, this product is designed for traders who want to try their hands on Crypto currency CFDs.

Silver account

The minimum investment required to run this account is $10,000 and the maximum is capped at $25,000. Leverage is 1:20 and users can also access the services of a senior account manager. Unlike basic account type, silver account offers a deposit bonus of up to 75%. They claim that this account offers technical education meaning that the kind of training they will give is much more complex than the first account.

Gold account

For gold account type, Coins247 requires investors to deposit a minimum of $25,000 and a maximum of $50,000. Leverage is offered up to the tune of 1:30. Tech and fundamental education is offered in addition to daily Crypto signals. This account seems to be geared towards those who don’t want to perform trade analysis on their own.

ViP account

This account is designed for traders who can afford to fund their trading accounts with $50,000 and above. Leverage is 1:40 and traders also get access to VIP account manager. They offer tech and fundamental education in addition to 150% bonus.

Generally, the more you deposit with Coins247, the more you get features that will make your work easier. Having finished discussing all account types offered by this Crypto brokerage, we want to delve into certain issues which are of concern.

First of all, they claim that funds are held at an Australian based bank. This is available on their FAQ page where they state that their clients funds will be safe since they are held in a segregated account. However, on the footer of the site, they tell us that their payment processor is based in Bulgaria. The name of this company is TM Capital LTD.

So, this means that funds are actually not routed to this Australian financial institution which they claim to send funds to. The second concern has to be whether Coins247 is regulated. The company does not state whether or not they are regulated by the financial watchdog in the UK. The FCA does not have Coins247 in their database, and although Coins247 does not feign legitimacy by claiming that they are licensed to operate this kind of business, the fact of the matter remains that funds of their clients are at great risk since they are not held at segregated accounts.

The other issue with unregulated Crypto currency brokers like Coins247 is that it is easy for them to mishandle their clients since they don’t operate by a guidelines set forth by regulators. However, with Crypto brokers that are regulated, there is also a need to operate according to the strict guidelines which are set by the regulatory authorities.

Therefore, trading with Coins247 would be generally unsafe for any trader wanting to get into the Crypto currency market by trading Crypto CFDs.

The other issue is that this website is very new. It has not built itself any reputation and there seems to be zero client testimonials about this brokerage. You don’t want to be the first person to test their level of service because in the worst case scenario, you will get scammed.

Is Coins247 a scam?

Coins247 resembles in terms of content and marketing style. In fact, these two websites have copy pasted content from each other which clearly means that they are owned by the same entity.

Lack of regulation is the first concern followed by lack of social approval. So Coins247 could be a scam.

Our best advice for you

There are better brokers to trade with and if the only choice you have is Coins247, you should be prepared for disappointments. In the meantime, check out these trading products.

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86 Replies to “Coins247 Review: Scam Crypto Broker?”

I’ve used and personally think they are a legitimate operation. Their staff are professional, quick to a**ist and I haven’t had any issues with navigating their platform or making withdrawals.

Same here, i trust them, they sent me my money, too bad it took 3 months!

this is not me in the picture. is this site ok? why would you add a female face to my comment? i’m a man!

frank you get your money from them all good??

wie kann ich coins247 erreichen?

Helaas slechte ervaring. Zijn erg uit op je geld. Adviezen hebben mij veel geld gekost. Ik denk dat zij een andere agenda hebben dan ik als klant. 5000 euro verloren en moeite gehad afscheid te nemen. Mooie praatjes, daden minder…

They are definitely a scam broker.
As soon as I requested to withdraw money the account manager never made contact again.
The withdrawal was never made.

They are definitely scam and I can prove this. Try to take all your money and you will see.
Do not accept their bonus.

im in the same boat les just try to withdraw any money from your account , SCAMMERS

I believe they are a scam. I put in 250$ and then I changed my mind about working with them. I asked for my money back, now I can’t reach them. domain is gone. All emails are bouncing back. They steel money.

i have lost 13141 dollars whole trading platform and login has disapeaerd ph disconnected

Hi Glen, try

Hi Hement, coins247.i is now coins

They are total scam. Very well organized, excellent trained group of approximately 10-15 people. They owe my 10 BTC Your money disappears in seconds, with l***, deceiving, scam advertising, false insurance, totally scam turnovers, they do not show their identity, not their true location, they usually still money by redirecting it thru Monero “back door”. If you love yourself avoid them. Many have already been scammed and we are joining in group legal prosecutions and possibly even more…

Mihael, I have had a terrible experience with Coins now .net
They scammed me out of £442,000 . over a 6 month period with very clever l*** and bonuses . I am near 70 years old and have lost almost all my net worth. I would be grateful if you can help and link me into your legal team to bring these people to justice and get my hard earned money back. I feel such a f*** being taken in by them !

same with me here I too lost, web site disappeared and .net ip server not available

In an email coins247 is asking for:
1. A clear color copy of a Valid Government
Issued photo ID (e.g. Pa**port/ National ID card/ Driver’s License) – front and back
2. A clear color copy of a Bank Statement or
Utility Bill (e.g. Electricity/Gas/Water/Phone bill) showing: your name, current residential address, issuing date within the last 6 months, and the company name and logo. Please note, a P.O.
Box is not an acceptable proof of residence.
3. A clear color copy of your Credit/Debit
Card ending in 9865 used to fund your account (front and back). Please ensure that the following appears on the credit card: the card holder’s name, expiry date, and the last 4 digits on the front, and signature (and the last 4 digits) on the back. For your rea**urance, please cover
the first 12 (front and back) digits and the CVV number (3 digits code) on the back of the card.
Do they need all this information to trade?

Hi Ron, when I signed up I was told that this was for security purposes to verify that I am indeed the person who signed up for the service and to ensure I wasn’t using my crypto account for money laundering.

they requested the same from me but this is a too personal info to just give to them specially online. so i don’t trust it. also i don’t understand that they did accept to open my account just by a mail address. they never asked for any ID when opening the account and taking the money but when i asked them to return the money suddenly all kind of info was needed. looks a Scam to me.

Have you been refunded yet?

Are you HIGH man? NO! he wasnt

Hi everyone – got my money back last week. had a call from customer service where they explained i did not deposit enough money and asked me to do another trade. i deposited 250 more and made 30 $ on top. than they released my money. CS was very helpful but i will not trade with them again.

i was refunded last week, best of luck Armin

Has your money been refunded yet?

I am in a wheel chair! thanks man!

Unfortunately I’ve fallen for this. For 4 days now I’m trying to withdraw my money back, and all they want is to call you. I accepted one call and said I want a withdrawal, and the same person sent me a mail where he heard that I wanted to trade?! (inert a lot of curse w***s here)

Have you been refunded yet?

I have asked for my moeny to be returned, and I’m told I can’t have it unless I provide lots of personal information. When you see their link appearing on reputable sites, you a**ume it’s not going to be a scam. Beginning to look like I’ve been fleeced like a f***.

Have you been refunded yet.

Just run away and don’t look back

Run away from there and don’t look back ever again. You are not smarter that those pricks!

They called me daily and insisted on investing 5000$ more i refused and asked for amount withdrawal. Different account managers call me and bulls*** about the market. They ask about personal info. Unprofessional staff they seem to be south african. Each day i am a**igned new account manager ! looks like i lost my money. Run away.

Yep! Seems like a scam alright. I was curious about bitcoin so thought I would have a flutter so gave them £500 to set me up. I stated categorically that I only wanted to buy into Swedish Government Bitcoin. That was on December 20th last year. By the second week they had done nothing then I had a guy (account Manager and South African) come online and said that he would fix it all up whilst I was online. OK! So I watched him. By the time I established contact with him on 9Th January the price had gone up from 0.19p to 0.35p per coin an apparent increase of 184%. No problem sasy he I’ll just backdate your entry date so now my investment looked as though it was £1,420.00. Not a bad increment?? Yeah but there is a catch! No transaction details, no receipts or trading notes, just keystrokes (that he made, not me) online. Long story short he then says if I give him another £1,000 he will turn it into £3,000 immediately and then I would have that as ‘Equity’ to deal in. Soon after and another dozen phone calls later he is saying that my investment is far too small as he is dealing in ‘millions’ from Investment Managers and Hedge funds. If I put in another £12,500 to £15,000 it would then be worth his while to be my account manager. At this moment I realised it was the age old scam, make it look like the client is winning and draw them in with more and more cash. I immediately realised at that point I have been had and asked for my original money back. Immediately my accounts were ‘closed’ and all balances shown as zero with my original cash so called purchases recorded online as 100% losses. I had not ever touched a button or administered a keystroke in the whole process yet not I have no cash balance, no equity and the account is registered as zero. I have repeatedly tried to contact the guy to no avail so I can now confidently claim this is an unholy scam. I cannot find an operator licence number for them. The same details as those shown above for the Company are the only ones that exist. They seem to be operating out of London as they are using UK phone numbers but when I asked for them for their postal address in London they were evasive and did not give me the information I requested. I suspect the phone numbers are the same as the Nigerians use. Routed from wherever they are based – I suspect South Africa but routed (and untraceable) via third countries into the UK… As so many above have said in their comments – run folks, run. They will steal your money….

Same here. looking for anyone who can shed some light

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