Coin Wise Markets is a CFD broker claiming to be established in 2006, offering trading services in forex, stocks, indices, precious metals, commodities, and cryptocurrencies.
However, Whois shows that its website domain was registered on September 24, 2023, and purchased for use by the current team as of October 24, 2024. The founding year advertised on the official site does not match the actual domain registration information, casting doubt on its credibility.
Brand Information vs. Website Contradictions
There are multiple contradictions regarding the platform's brand information throughout the website. For instance, the homepage introduces the brand name as Coin Wise Markets, operated by Coin Wise Markets Pty Ltd., but other pages mention the brand name and operating entity as Stock Extreme Trade and Stock Extreme Trade Pty Ltd. These inconsistencies raise doubts about the platform's legitimacy and transparency.
Website Template and Brand Exposure
The platform's website design is identical to those of many known scam platforms, such as Crypto Classic Markets and Trust Worthy Traders, featuring a mass-produced template. Further investigation reveals that the platform has virtually no brand exposure online, with no related news coverage.
Regulatory Information
The official site claims registration in Mauritius and regulation by the Financial Services Commission (FSC) of Mauritius. However, the claimed company registration number (170969) and regulatory license (GB19024896) actually belong to the well-known broker GO Markets Pty Ltd.
Coin Wise Markets has stolen GO Markets' registration and regulatory information, and is not actually regulated.
Trading Instruments and Account Types
The platform offers over 350 tradable CFD instruments, including forex, stocks, indices, precious metals, commodities, and cryptocurrencies. Account types are divided into GO Plus+ and Standard accounts, each providing different spreads and fee structures.
GO Plus+ accounts start with spreads from 0.0 pips, with a commission of 3 AUD per side; Standard accounts have spreads from 1 pip, with no trading commission.
Educational Resources
The platform claims to offer extensive educational resources, including introductory courses on forex trading, articles on trading strategies and psychology, and MetaTrader tutorials. However, the actual quality and credibility of these resources remain to be verified.
Trading Software and Client Support
The official site claims to support MT4 and MT5 trading platforms, providing mobile and web-based trading clients. However, the TraderKnows team did not find any servers related to Coin Wise Markets in the MT4 and MT5 server lists, contradicting their promotional content.
Deposits and Withdrawals
The site claims to support deposits and withdrawals through Mastercard, Visa, Skrill, Neteller, bank transfers, etc. However, the real availability of these payment methods remains unverified.
User Reviews and Website Traffic
No user reviews can be found regarding Coin Wise Markets on public networks. According to Semrush data, the platform receives less than 100 visits per month, indicating an extremely limited market presence.
Contact Information and Social Media
The platform provides several email addresses on its website, but the information is inconsistent. Additionally, although various social media icons are displayed, no actual social media accounts have been established. This is highly unusual for a legitimate broker.
Agency Policy
The platform offers two agency policies: the White Label and Referral Program. Although the description mentions providing various support for partners, given the other doubts about the platform, these policies might be mere false advertising to attract agents.
Risk Report
Based on the above analysis, the platform presents the following risks:
- False Establishment Information: Claims to have been established in 2006, but actual domain registration information reveals establishment in 2024.
- Contradictory Brand Information: Different brand and operating entity information displayed on multiple pages, causing confusion.
- Stolen Regulatory Information: Fabricated Mauritius Financial Services Commission regulatory information to mislead users.
- Low Website Traffic: Receives less than 100 visits per month, showing weak market influence.
- Lack of User Reviews: No user feedback found, raising further credibility issues.
- Unverified Trading Platforms: No relevant information found in MT4 and MT5 server lists.
- Missing Social Media: No social media accounts set up, not meeting industry standards.
- Templated Website Design: Uses the same website template as many known scam platforms.
In conclusion, Coin Wise Markets poses a high risk of being a scam. Investors should avoid this platform and choose more transparent and regulated brokers to ensure the safety of their funds.
