In this review, we will describe why Mcoinmarket is a scam that you should avoid at all cost !
Is Mcoinmarket Legit?
Looking at Mcoinmarket website, it shows that they are owned by Zed Consult Ltd. Zed Consult Ltd. is located in Bulgaria, a well-known offshore zone and a preferred location for shady brokerage. Mcoinmarket is an unregulated broker. Problem with unregulated brokers is that they are not reliable and abuse the regulations. Make sure to stay away from this broker as they are anonymous and that they can disappear any time without notice.
To make sure you are dealing with a regulated and known broker, you should be able to find easily who is the CEO of this brokerage firm, who is running it etc. Lack of information is a big red flag since you don’t know who will be dealing with YOUR MONEY. This is the reason why Mcoinmarket is a dangerous broker to deal with.
Are Funds Safe with Mcoinmarket ?
With such lack of information and Mcoinmarket being unregulated, funds are not safe. Security of funds is a huge problem with unregulated brokers. A red flag that we noticed is Mcoinmarket is withholding vital information to users.
Mcoinmarket could go bankrupt from one day to another since there are no banking information about this broker.
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Mcoinmarket Review: our Conclusion!
Mcoinmarket is an unregulated broker to avoid at all cost. If you have been scammed, check out our ChargeBack process here or get a Free Consultation by a team of expert by clicking here.
Mcoinmarket Scam Review
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Website URL : www.mcoinmarket.com
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Type of Scam : Unregulated Broker (CFDs)
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Regulation : None
I traded with Mcoin for a couple of months. My account was up over $3000 but I lost it all on open trades when Bitcoin fell. I have accepted this and haven’t traded with them since. However today I had a call fro someone who said they were from the finance dept of Mcoin. The number was “unknown” so can’t call them back. They said I was to get a refund of £1500 and to open a Mcoin desk on google chrome. I am very sceptical as my equity is at zero. I was unable to do this on my IPad and they will phone back tomorrow when I am to open a Mcoin desk on my computer. If this is genuine why can’t they refund on my credit card like a normal withdrawal. I feel this is a scam. Any advice?
I was talked into taking out a loan to invest money with mcoinmarket with a guarantee that l would be able to pay back the loan and make more money as well if l invested money with them. I stupidly listened and took out a loan for $3500. I was contacted a few times and then in 2 trades, one of which l wanted to close but was told it was better to leave open, all my money was lost. I heard from this trader only once more with an excuse about what happened. I haven’t heard from him since. I was contacted by another person saying l had $21000.00 to claim because they were closing down. I asked how but was never answered. I was contacted by one other person claiming l had 11000.00 to claim.
I am at my wits end now, l can not contact them and they haven’t answered my emails. What can l do??
Similar to Julie Dickson above – I only invested £250 with them – they managed to reduce that to £1.50. Then i get a message saying that they are refunding and adding compensation – to the tune of 2.5 btcoin – i.e over £20,000. Too good to be true? Comments please.
when I started trading with Mcoin Market, I invested € 250, which the broker “lost” within 15 minutes. However, he continued to trade with my money, and now they owe me 2.5 bitcoin. Back in August, they announced that they would pay me 2.5 bitcoins (conversion in euros). I sent several e-mails, and now more do not receive. I want that money to be paid to me as soon as possible.