Coin Market Master is a platform claiming to provide trading in Forex and cryptocurrency CFDs. It asserts that it was established in 2007 and portrays itself as a global enterprise.
However, upon investigation, it was found that the corporate history presented actually mimics the development history of the broker Axi, and the displayed information is not truthful. More concerning is the platform does not provide any information about its real corporate entity, and there's no clear evidence of its claimed founding year.
Corporate Entity Information
According to public records, Coin Market Master does not have a genuine corporate entity. Its website does not disclose any registered office or team member information, nor does it provide a specific operational address. Searches have failed to find any company registration information associated with this platform. Its credibility and legitimacy are questionable.
Domain and Establishment Date
The platform’s official website domain is coinmarketmasters.com. Through a Whois search, the domain registration date is July 5, 2024. This contradicts the platform's claim of being “established in 2007,” indicating the platform may have only recently begun operations, lacking records consistent with its claimed history.
Trading Products
Coin Market Master offers trading services in Forex and cryptocurrency CFDs. The platform claims to support a variety of financial instruments that users can invest in and trade on the platform. However, it does not clearly specify its trading software or provide any software download method and does not disclose specific trading details such as leverage or spreads.
Regulatory Licenses
The platform's website displays three regulatory licenses purportedly held by Golden Coin Asset Ltd, which are:
- CySEC License: Authorized by the Cyprus Securities and Exchange Commission (CySEC), license number 19437/165.
- FSA License: Authorized by the Seychelles Financial Services Authority (FSA), license number QSD0H58.
- FSC License: Authorized by the Mauritius Financial Services Commission (FSC), license number C11607E17115.
However, upon investigation, these licenses could not be found on the official websites of the respective regulatory agencies, and “Golden Coin Asset Ltd” is also not registered in the databases of these institutions, indicating these licenses might be fabricated.
Additionally, the Coin Market Master website does not clearly explain its relationship with “Golden Coin Asset Ltd,” which further increases suspicion about the platform.
Account Types and Investment Plans
The platform does not display any specific account types or investment plans, nor does it disclose related trading information such as trading leverage, spreads, and deposit amounts. This leaves potential users unable to accurately understand the conditions and fees for trading on Coin Market Master.
Deposit and Withdrawal Methods
Deposit Methods: The platform claims to support various deposit methods including credit/debit cards, bank transfers, electronic payment methods (such as Skrill, Neteller), and cryptocurrency deposits. Specifically:
- Credit/Debit Cards: Supports Visa, MasterCard, with a minimum deposit amount of $5, processed instantly, and free of charge.
- Bank Transfer: Processing time of 1-3 days, free of charge, with no specified minimum deposit amount.
- Electronic Payment Methods: Supports Skrill, Neteller, FasaPay, with a minimum deposit of $5, processed instantly, and free of charge.
- Cryptocurrency: Supports BTC, ETH, USDT, with a minimum deposit of $30, processing time 0-60 minutes.
Withdrawal Methods: The platform supports withdrawal methods similar to deposit methods, including credit/debit cards, bank transfers, electronic payment methods, and cryptocurrencies.
- Credit/Debit Cards: Withdrawal fees unspecified, minimum withdrawal amount not mentioned.
- Bank Transfer: Free, minimum withdrawal amount of $50, processing time 1-3 days, international transfers may take 2-5 days.
- Electronic Payment Methods: Free, minimum withdrawal amount of $5, processing time 1-3 days.
- Cryptocurrencies: Clients pay blockchain fees, minimum withdrawal amount of $30, processing time 1-2 days.
The platform specifically notes that the account name must match the platform account and third-party payments are not allowed.
Agency Policy and Educational Resources
The official website does not provide any agency partnership policies nor any educational resources, indicating a significant lack in user education and agency promotion by the platform.
Staff and Team
The platform does not publicize its team member information, nor can relevant enterprise staff be found in the public domain. This lack of information increases the platform's mystery, making it unclear whether there is an actual operational team behind it.
Website Traffic and Design
According to the well-known website Semrush, Coin Market Master’s website has a monthly average visit of less than 100 times, indicating that the platform has virtually no users.
Additionally, the platform uses the same design template as other suspected scam platforms such as Safe Concept Fx, Goldencoinassets, and Arllentrades, further deepening the impression of the platform being unreliable.
User Reviews and Brand Exposure
There are no user reviews or related news about Coin Market Master found on the public network. The lack of user feedback and platform exposure might mean the platform has not garnered wide attention or usage.
Contact Information and Social Media
The platform's contact information is limited to online contact and email ([email protected]).
Furthermore, the platform has not established any official accounts on major social media such as LinkedIn, Facebook, Instagram, or Twitter. This raises doubts about its transparency and ability to communicate with customers.
Risk Report
- Unclear Company Background and Entity: The platform lacks a real corporate entity, and its displayed corporate history and background are doubtful. It’s uncertain if there is an actual operational team behind it.
- Invalid Regulatory Licenses: The regulatory licenses presented by the platform cannot be verified on the official websites of the relevant regulatory agencies. Additionally, the platform does not clearly state its relationship with “Golden Coin Asset Ltd,” increasing the platform's suspicious nature.
- Non-transparent Trading Information: The platform does not disclose detailed trading information, such as account types, investment plans, or trading leverage, making it difficult for investors to assess trading conditions and platform fees.
- Potential Risks in Deposit and Withdrawal Methods: Although the platform supports various deposit and withdrawal methods, due to its lack of transparency and corresponding regulation, investors may face issues with fund liquidity, and withdrawal processing times and fees are unclear.
- Similar Design Template for Platform: Coin Market Master shares the same website design template with several suspected fraudulent platforms, further increasing the platform's unreliability.
- Lack of User Reviews and Brand Exposure: The platform has almost no user reviews or brand exposure, indicating it lacks reputation and credibility in the market.
Conclusion
Based on the information above, Coin Market Master presents a high risk. Investors should cautiously evaluate the platform’s legitimacy and transparency to avoid trading on such platforms.
