Coinfidel is a CFD broker whose official website domain was registered on March 26, 2024. The broker mainly provides investment services in trading markets such as forex, digital currencies, precious metals, commodities, and funds for retail and institutional clients. It does not offer services to countries and regions where doing so would violate local laws or regulations.
Company Registration Information and Regulatory Status
According to publicly available information on Coinfidel's website (www.coinfidel.ltd), the services provided by this broker are regulated by financial regulatory authorities under U.S. jurisdiction. However, its terms of service page states that any litigation arising from its website terms shall be litigated exclusively in courts located in New Zealand.
Upon investigation, no registration information for Coinfidel was found with financial regulatory bodies such as the National Futures Association (NFA), the Financial Industry Regulatory Authority (FINRA), the Securities and Exchange Commission (SEC) in the U.S., or the Financial Service Providers Register in New Zealand.
Additionally, clicking "Legal" at the bottom of its website redirects to the New Zealand Companies Register, showing a registered company named TITAN TRUSTEES LIMITED. However, the Financial Markets Authority (FMA) of New Zealand lists TITAN TRUSTEES LIMITED as a company whose information has been fraudulently used by scam brokers and has issued an investor warning against it.
Therefore, Coinfidel is essentially an unregulated clone scam website.
Account Opening Process
The account opening process for a Coinfidel trading account is as follows: visit the broker's official website, click "REGISTER NOW" on the homepage or "Join Now" at the top right to access the account registration page, fill in personal information such as name and email address, set a login password, and submit. After submission, the account can be successfully registered once verified.
Investment Plans
Coinfidel offers users three different types of investment plans: Compact Plan, Silver Plan, and Diamond Plan.
Compact Plan:
- Trading period: 5 days
- Minimum deposit: $100
- Maximum deposit: $4,999
- Referral bonus: 10%
- Enhanced security
- 24/7 dedicated support service
- Daily return rate: 2%
Silver Plan:
- Trading period: 5 days
- Minimum deposit: $5,000
- Maximum deposit: $19,999
- Referral bonus: 10%
- Enhanced security
- 24/7 dedicated support service
- Daily return rate: 2.5%
Diamond Plan:
- Trading period: 7 days
- Minimum deposit: $20,000
- Maximum deposit: Unlimited
- Referral bonus: 10%
- Enhanced security
- 24/7 dedicated support service
- Daily return rate: 3%
Trading Platform:
Coinfidel provides its users with a proprietary trading platform, but no detailed introduction is provided, and it is limited to a web version only.
Deposits and Withdrawals:
Coinfidel supports deposits and withdrawals through various cryptocurrencies.
Conclusion:
Traderknows reminds investors that Coinfidel is a fraudulent broker that deceives investors under the guise of high returns, as it lacks any regulatory approval. It is advisable for investors to choose brokers with transparency, strong regulation, and good reputation to avoid unnecessary financial losses.
Currently, this broker is labeled as "Scam" on Traderknows.
