Access to global stocks such as Amazon and Tesla is what Cinpax claims to offer. Based in St. Vincent and the Grenadines, the platform, has a wicked sense of humor. You will deposit and trade well before hitting a wall. Unfortunately, several members of the platform have not been able to withdraw funds for a while. The platform gives lame excuses as to why this is the case. We are here to expose the truth. Please find out more in our detailed CINPAX REVIEW.
A Brief Overview of Cinpax
The platform sells itself as the place to unleash your investing and trading potential. There’s an appeal that they offer ideal trading conditions and features. We have to give it to them for creating an engaging website.
Yes, once you land on their platform, you immediately feel at home. The website sells the aurora of a legit and professional trading website. And this makes it look legit, a case we have to dismiss.
Thanks to our keen eye, we can spot investment fraudsters a mile away. Cinpax is one of them as they blatantly refuse investors to withdraw funds. And this is the main problem members face. No one has made any withdrawals for the past couple of months.
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Cinpax.com will take your money, and you will have no way of recovering it. Those who hire recovery agents don’t even get a quarter of what they have deposited. In fact, you will lose more money trying to recover funds.
These recovery agents don’t have the mandate or power to freeze accounts. Instead, the agents will only plead with the platform to release funds by promising legal action. What most don’t understand is that the platform is based offshore.
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The people behind it are transferring funds to offshore banks, making it impossible to track transactions.
Accounts and plans Cinpax
Cinpax offers five trading accounts, with the beginner account having a leverage of 1:400. The high leverage immediately informs us that the platform enjoys no oversight. No regulator in their right mind would allow such a high ROI.
Here’s a closer look at the five accounts, including conditions and features;
It’s the standard account and is best for beginners, and this is according to the platform. The minimum acceptable deposit is $250, with members having access to proprietary trading platforms. There are no commissions that come with this account.
Apart from the high leverage, everything else checks out.
For the second account on offer, members must deposit $2,500 to start trading. 10.00 is the maximum order size, and an account manager is available. Members also get price alerts with customized trading strategies.
There’s a minimum amount of $25,000 that must be deposited to trade with this account. The features include exclusive daily market analysis and a personal portfolio. Members also get price alerts with variable and fixed pricing.
With the professional account, hedging is allowed with fixed pricing. The minimum deposit is $100,000, with members also getting research tools. In addition, price alerts are available, not forgetting a personal portfolio.
It’s the most exclusive account as members are promised account protection with the lowest market price differences. In addition, members enjoy negative balance protection, and hedging is allowed. Unfortunately, there’s no account manager or professional help with this account.
Judging by the experience of members, the platform lacks professional account managers. Jeff claims that his interaction with the account manager was brief. The account manager was only interested in more deposits.
According to Jeff, the account manager would harass him with calls asking for more deposits. Finally, the story goes that the manager claims to have found a new and profitable venture. To get a piece of the action, Jeff had to deposit more funds.
There’s nowhere on the platform does the website gives information on team members. You would expect the platform to have the names of team members. As it stands, we have no proof that these are professionals with any experience.
According to the disclaimer at the footer of the homepage, Cinpax Ltd is the parent company. However, the information clearly shows the company is registered in St Vincent and the Grenadines. An offshore platform should be the last avenue for investors and traders.
Without any information on the platform’s address, we feel that this is an anonymous website. Anonymity is a great risk that no one should take. Once you deposit funds, it remains unclear who is held responsible.
Cinpax License and Registration Status
Cinpax is an offshore investment and trading platform that will take your money and run. The platform does not hold any legal footing to offer these services. We don’t see any documents supporting their claim to online trading services.
Without any compliance, the platform is free to operate without following industry guidelines. And this is the reason why we are afraid for the investor who blindly signs up and deposits. You won’t enjoy the protection that comes with a regulated entity.
Contact and support
We find it weird that the platform restricts investors from the U.S, and they have a US phone number. So the people behind this platform are using a virtual phone number to entice US investors.
There’s a chat service, and we decided to test how fast they would respond. Miguel was the support agent, and the response was quick. We asked a few questions, and Miguel could answer all of them with ease.
Once you ask him about license and registration, that’s when he logs out. Other avenues of making contact include sending an email. Unfortunately, we also suspect Miguel is a bot as some of his answers lacked the human connection.
Deposit and withdrawal options
The platform has listed several depository options. These include Amex, Discovery, MasterCard, Neteller, Visa, and more. With these options, the platform widens its net. Anyone from any part of the globe can deposit funds.
It would be best if you avoided funding these accounts as withdrawal is out of the question. You won’t get the chance to withdraw funds which is a pain in the neck. It beats the reason why invest with the platform in the first place.
Features, Pros, and Cons of Cinepax.com
The platform offers a multi-asset trading platform. It’s a custom-made platform they claim is advanced, articulate, and efficient. Their platform is compatible with all devices but lacks intuitive tools.
You get 3 chart types with 9-time frames with built-in financial news. Even if you make profitable trades with the platform, withdrawing is the main problem.
Safety of funds with Cinpax
Cinepax won’t offer any security cover to investors. The platform does not segregate accounts or offer a safety net to deposits made. In addition, there’s no insurance cover protecting investors in the event of bankruptcy or insolvency.
There’s the need to protect investors from such platforms. Reading reviews is one way of checking a platform’s reputation. You can also check with regulators to find out whether a platform is registered.
Want to succeed by investing safely? Use expert-backed options that guarantee safety.
With all red flags exposed, we have to add cinpax.com to our blacklist.
For those with questions, feel free to leave a comment or drop us an email.