Cointerio is a ridiculous Crypto broker with all the signs pointing to a short-term website. The broker claims to offer a wide range of Crypto assets with fixed low spreads and zero commissions. Cointerio.io is another broker with all the classic features of a soon-to-be scam. This one, however, has a slight twist as they also claim to be a Crypto exchange.
With no positive review, we have proof that this is a Crypto scam. Learn more in this detailed COINTERIO Review.
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A brief overview of Cointerio
The broker is trying to penetrate the lucrative Crypto world. Although the website design is appealing, there’s more than meets the eye. There are just too many loopholes to ignore within the website.
We did notice that the company that owns this platform is in St Vincent and the Grenadines. That is one of the biggest reasons to stay away from this platform. Cointerio is an offshore broker with no ties to proper regulation protocol.
Once you land on their homepage, you get a call to sign up with the leading Crypto exchange. We are certain that this exchange will only be running for a few weeks or months. It all depends on how fast authorities will act to shut it down.
With Bitcoin having no regulation, it also opens up to online scam artists. Cointerio.io is another classic example of why you should be extra careful with Crypto trading.
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Assets found on Cointerio.io
The broker claims to offer over 200 symbols that include Cryptocurrencies. There’s commission-free trading with no information on leverage and spread. There are over 70 crypto assets that you can access using their high-speed trading platform.
These are claims that the broker uses to entice newbies to sign up. Thanks to our keen eye, we will expose these scam artists and explain why this is a risky option.
Bonus agreement policy
Before accepting their agreement, you need to know about the risks of receiving a bonus. Scam and mostly offshore brokers use bonuses to leverage investors into depositing more funds. The broker will add a bonus amount to your trading account and wait for a withdrawal request.
Once you do so, they will ask that you pay back the bonus they offered. You will have to deposit the same amount as the bonus amount.
Even if your account balances the bonus, the broker will demand a new deposit. Once you do so, they will shut down the account. It’s what offshore scammers use to note when you want to withdraw funds.
The disclaimer at the footer of their homepage shows that Rushflake Design LLC owns this platform. From the address, we can see that the company resides in St Vincent and the Grenadines.
This is a well-known offshore base for would-be scam platforms. Most scammers prefer this location as it offers no regulation. There’s next to zero regulation in terms of trading firms.
Cointerio License and Registration Status
Cointerio is not a valid crypto broker and does not hold a license from any regulator. Investors from America, Australia, and Europe should avoid using such platforms. There’s no regulation for a reason, and that’s to protect the broker from prosecution.
The broker does not indicate even trying to get a permit from authorities. We checked with SVGFSA and could not find any broker or Crypto platform licensed under this name.
It all points to a well-designed plot to steal from anyone who falls for their trap. Cointerio.io is not an exchange platform but a hole to steal crypto coins. If you make the mistake of sending your coins to this broker, it’s the last you see of them.
No one will help you recover the coins as this is an unregulated entity. The reason using regulated platforms is recommended the safety you enjoy thanks to regulation.
No one has come out with positive comments regarding their experience with this platform. Most Crypto trading forums have no chatter on the broker. And this is probably because this is a new and untested broker.
Nonetheless, there should be at least some positive media campaign from the broker. There’s no social media presence on the platform, which points to a shocking fact. The broker plans to shut down the platform and have no online footprint.
Domain footprint (Cointerio.io review)
As of posting this review, the platform is 144 days old. Records show that the website went live on November 12, 2020. They claim to have extensive years of experience is a lie. There’s no credibility to this platform, and it’s evident in the domain’s footprint.
The name of the registrant is withheld, and we know the reason for it. No offshore broker wants their name on the front pages with the words ‘scam artists’ alongside it.
Features of this offshore Crypto broker
Members get to choose between five accounts to choose from. These accounts include Basic, Silver, Gold, VIP, and Diamond. For the basic account holder, a minimum deposit of $250 is required to start trading.
Leverage is set from 1:10 for a basic account to 1:40 for a Diamond account. Most of the accounts share the same features only in large quantities, such as bonuses and educational materials.
There’s another trick offshore brokers use to make their platform appear legit and professional. You might get the illusion that you have an account manager on call. The truth is that these are far from professionals; they are call agents hired to act as account managers.
Their work includes calling you and ensuring you continue depositing with the platform. Most of them claim that the more you deposit, the higher your chances of winning.
Contact and support
On their contact page, the broker has a message board with two phone numbers. Once you send a message, it’s not a guarantee that you will get any response. The only time you get a quick response is when you ask about opening an account and depositing funds.
Most of the advanced trading tools found on reliable platforms such as MT4 are missing. The broker prefers to use a web platform that is full of security issues. All instruments found on the platform are traded against Cryptocurrencies.
For those who know about trading, this is a huge disadvantage. The FCA has warned users against CFDs on Crypto. Cointerio offers EUR/USD and GBP/USD, which is contrary to the regulator’s wishes.
Safety of funds
There’s no security of funds with a platform that doesn’t deposit the minimum capital requirement with regulators. This amount is important as regulators use it to ensure deposits are made to the platform.
It means that the broker is most likely risking your money with these trades. These offshore brokers don’t segregate accounts, and all funds are redirected to personal accounts.
Scam or Legit Cointerio.io
Cointerio is a scam that is waiting to pounce on naïve Crypto investors. Our Cointerio.io review will help stop it as we have clearly highlighted the red flags.
We won’t recommend this broker as they fail to safeguard the interest of members. The lack of proper regulation is a complete turnoff.
Use viable options that come highly recommended by Crypto experts. It’s the safest way to trade and earn realistic profit margins.
We wish everyone a prosperous trading experience.