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Cointiply: A Deep-Dive Analysis of the Controversial Broker

Started by Admin, Nov 29, 2023, 05:23 PM

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Topic keywords [SEO] ForexbrokerScammerFraudsterGlobeternal

Admin

Cointiply came to my attention through a friend who has a penchant for risky ventures, particularly testing fledgling brokerage firms that often offer enticing terms in their early days. After a telephone conversation with the company's representatives promising him the moon, he immediately dismissed their propositions, suspecting that Cointiply was nothing more than a scam. Together, we embarked on an exploration of Cointiply's website, which reinforced his suspicions.

Overview of Cointiply's Registration


Based on the information available on their website, Cointiply claims to be registered in the UK. Therefore, it would be expected that pertinent information about the company should be available in the respective regulatory bodies. However, this is far from the truth.

There is no brokerage firm registered under the name "Cointiply" in the UK. Therefore, Cointiply lacks a broker's license, and their operations are deemed illegal.

Moreover, the absence of official registration means that customers who have entrusted their money to these fraudsters have no recourse to recover their funds. Many may resort to the police; however, these cases usually take a long time to investigate and rarely yield positive results.

Documents on Cointiply's Website


Cointiply's website lacks any evidence of a brokerage license or any other documents that would allow a user to understand who is offering them services.

Honest brokers always display electronic copies of registration documents, permissions to operate in different countries, and contact information (legal address, office locations, etc.) on their websites. This transparency is essential to build trust with their clients, showing them that they are a legitimate, reliable company that will not abscond with their money at the first opportunity.

Cointiply's representatives, on the other hand, will assuredly tell you that they possess all the necessary documents and registrations; they just haven't published them on the website. The reason? They claim to be modest.

Working Conditions with Cointiply


Reading through the FAQ section on their site, it becomes abundantly clear that you are dealing with scammers, and not particularly clever ones at that.

Cointiply claims to provide Forex trading services and simultaneously engage in cloud mining—two significantly different spheres of activity.

Moreover, they claim that cloud mining allows for obtaining cryptocurrency (Bitcoins) without the need for mining equipment, software, and electricity consumption. This claim is utter nonsense. Cloud mining is a service that allows you to rent server capacities for cryptocurrency mining. Thus, mining requires:

  • A Server.
  • Specialized software.
  • Electricity.

Such claims are designed to trap people who have never invested, know nothing about cryptocurrency, and are clueless about mining.

The minimum deposit amount is one dollar, which is laughable. With such a low deposit amount, the broker would incur losses just from the account's existence.

However, on the main page, the tariff plans indicate 20 dollars, which is closer to the truth but still considerably low.

Cointiply does not charge a commission for account deposits or withdrawals. How do they make money then?

In simpler terms, everything on the website screams that Cointiply is a scam.

Conclusion


I strongly advise against collaborating with this company. If you have already handed over your money to Cointiply or other scammers, please reach out. I am more than willing to assist you in recovering your funds and can recommend competent lawyers who can cause significant trouble for these fraudsters.

If you have been victimized by this scammer, lost and can't get your money back, or need help - email us at forum.pl.jack@gmail.com and we'll figure it out.