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CoinEvo

Saint Vincent and the Grenadines|2-5 years|
Suspicious Scope of Business|High potential risk|

https://coinevo.co/

Website

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Contact

support@coinevo.co
https://coinevo.co/
First Floor, First St. Vincent Bank Ltd Building, James Street, Kingstown, St. Vencent & the Grenadines

Licenses

No valid regulatory information, please be aware of the risk!

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Broker Information

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Company Name

CoinEvo

Company Abbreviation

CoinEvo

Platform registered country and region

Saint Vincent and the Grenadines

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away! 2
Previous Detection : 2024-05-19
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The current information shows that this broker does not have a trading software. Please be aware!

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CoinEvo · Company Summary

Note: Regrettably, the official website of CoinEvo, namely https://coinevo.co/, is currently experiencing functionality issues.

CoinEvo Review Summary
Registered Country/Region Saint Vincent and the Grenadines
Regulation Unregulated
Market Instruments Forex, stocks and commodities
Leverage 1:100 (CENTAcc account)
EUR/ USD Spread 3 pips (CENTAcc account)
Trading Platforms Webtrader
Minimum Deposit $250
Customer Support Email: support@coinevo.co

What is CoinEvo?

CoinEvo, based in Saint Vincent and the Grenadines, operates as an unregulated trading platform that offers a range of market instruments including forex, stocks, and commodities. Traders can access the platform through the Webtrader interface with a minimum deposit requirement of $250. For customer support inquiries, users can reach out via email at support@coinevo.co.

CoinEvo

If you are interested, we invite you to continue reading the upcoming article where we will thoroughly assess the broker from various angles and present you with well-organized and succinct information. By the end of the article, we will provide a concise summary to give you a comprehensive overview of the broker's key characteristics.

Pros & Cons

Pros Cons
  • Flexible leverage
  • Not regulated
  • Inaccessible website
  • Not MT4 supported
  • Wide EUR/USD spreads

Pros:

- Flexible leverage: CoinEvo offers traders the flexibility to choose leverage ratios for their different accounts that suit their risk tolerance and trading strategies.

Cons:

- Not regulated: As an unregulated platform, CoinEvo lacks oversight and investor protection measures that regulated brokers provide.

- Inaccessible website: The current inaccessibility of CoinEvo's website raises concerns about the platform's reliability and accessibility for users.

- Not MT4 supported: The absence of support for the popular MetaTrader 4 platform may limit the options and features available to traders.

- Wide EUR/USD spreads: Wide spreads of 3 pips, 2 pips and 0.5 pips on the EUR/USD currency pair can increase trading costs for users and potentially reduce profitability.

Is CoinEvo Safe or Scam?

Investing with CoinEvo poses inherent risks due to the lack of proper regulation and oversight governing their operations. Without a valid regulatory framework in place, the platform operates without accountability to any government or financial authority. This regulatory vacuum creates a situation where the individuals managing CoinEvo could potentially abscond with investors' funds without facing legal repercussions for their actions. In essence, the absence of regulation means that there is a heightened risk of fraudulent activities and financial misconduct within the platform.

No license

Furthermore, the inaccessibility of CoinEvo's official website raises significant red flags regarding the reliability and stability of their trading platform. The inability to access the website not only hampers transparency but also erodes trust in the platform's operational integrity. This lack of online presence and communication channels can create uncertainty among investors about the legitimacy of CoinEvo's offerings and services.

These critical factors collectively contribute to a higher level of risk associated with engaging in investment activities through CoinEvo. The combination of regulatory non-compliance, potential for fraudulent behavior, and operational concerns underscores the importance of exercising caution and due diligence before committing funds to an unregulated and inaccessible trading platform like CoinEvo.

Market Instruments

CoinEvo provides forex, stocks, and commodities.

- Forex: CoinEvo offers a wide selection of major, minor, and exotic currency pairs for trading in the forex market. Traders can access popular pairs such as EUR/USD, GBP/JPY, and USD/JPY, as well as lesser-known pairs like USD/TRY and NZD/CAD. The forex market is known for its high liquidity and volatility, making it attractive to traders looking to speculate on currency price movements.

- Stocks: CoinEvo allows traders to trade stocks of various companies listed on major stock exchanges around the world. Traders can invest in well-known companies such as Apple, Google, Amazon, and others, providing opportunities to participate in the performance of individual companies and diversify their investment portfolios.

- Commodities: CoinEvo offers a range of commodities for trading, including precious metals like gold and silver, energy commodities like crude oil and natural gas, agricultural commodities like wheat and corn, and more. Trading commodities can provide traders with exposure to different sectors of the global economy and opportunities to profit from price fluctuations in these markets.

Account Types

CoinEvo provides users with a selection of three distinct live account types, each tailored to meet varying trading preferences and experience levels.

CENTAcc:

The CENTAcc account is an ideal choice for beginners or those looking to start trading with smaller amounts of capital. This account type requires a minimum deposit of $250, making it accessible to a wide range of users. CENTAcc offers a low barrier to entry and is suitable for individuals who are new to trading and wish to familiarize themselves with the platform.

ProAcc:

The ProAcc account is designed for intermediate traders who have a bit more experience in the financial markets. With a minimum deposit requirement of $2,500, this account type offers more advanced features and tools compared to the CENTAcc account. ProAcc users can benefit from enhanced trading capabilities and access to a wider range of assets and trading opportunities.

Pro+ Acc:

The Pro+ Acc account is the highest tier account offered by CoinEvo, catering to experienced traders and investors. With a minimum deposit requirement of $25,000, the Pro+ Acc account provides users with premium features, personalized support, and exclusive trading tools. This account type is suited for professional traders seeking advanced trading options and premium service.

Account Type Minimum Deposit Requirement User Level
CENTAcc $250 Beginners
ProAcc $2,500 Intermediate
Pro+ Acc $25,000 Experienced
account comparison

Leverage

CoinEvo offers different account types with varying leverage ratios to cater to traders with different levels of experience and risk tolerance.

The CENTAcc account provides leverage of 1:100, allowing traders to control a larger position size with a smaller deposit. The ProAcc account offers leverage of 1:200, granting traders even greater buying power to potentially amplify their profits or losses. For the most experienced traders, the Pro+ Acc account provides leverage of 1:300, offering the highest level of leverage for those seeking maximum exposure in the markets.

While high leverage can magnify profits, it also significantly increases the risk of losses. Traders should exercise caution when utilizing leverage and ensure they have a solid risk management strategy in place. It is advisable for traders to carefully consider their risk tolerance and trading goals before choosing a leverage ratio, as responsible trading practices are essential for long-term success in the financial markets.

Spreads & Commissions

CoinEvo offers different spreads and commission structures for each of its account types to accommodate the trading preferences of various traders.

The CENTAcc account features a fixed spread of 3 pips with no commission charged per lot, making it a straightforward choice for beginners looking for cost-effective trading. On the other hand, the ProAcc account provides variable spreads starting from 2.0 pips, along with a commission fee of $3.4 per lot traded. This account type is suitable for intermediate traders who may prioritize tighter spreads and are comfortable with paying a commission for their trades.

For more experienced traders, the Pro+ Acc account offers competitive spreads starting from 1.5 pips, with a commission of $4.1 per lot traded. This account type is designed for traders who value low spreads and are willing to pay a slightly higher commission for enhanced trading conditions.

ccount Type Spread Commission per Lot
CENTAcc 3 pips $0
ProAcc From 2.0 pips $3.4
Pro+ Acc From 1.5 pips $4.1

Trading Platforms

The trading platform offered by CoinEvo is a web-based platform that includes Web Trader. However, reports suggest that the platform falls short of expectations in terms of appearance and professionalism, raising concerns about the reliability of the broker. CoinEvo's lack of support for well-established platforms like MetaTrader4 and MetaTrader5 is seen as a red flag, as these platforms are widely regarded in the industry for their features and user-friendly interface.

Trustworthy brokers typically offer MetaTrader platforms due to their popularity and advanced capabilities. MetaTrader4, in particular, is considered the world's number one platform, offering advanced charting tools, analysis features, and options for copy and auto-trading. Its successor, MetaTrader5, provides additional advantages such as the ability to trade on multiple financial markets through a single account and hedging options. Although MetaTrader5 is gaining traction among brokers, it still lags behind MT4 in terms of trading volume.

web-based platform

Deposits & Withdrawals

CoinEvo offers a variety of convenient options for depositing and withdrawing funds on its platform.

Users can choose to initiate bank transfers and withdrawals directly from their bank accounts to their CoinEvo wallet. This method typically involves providing the necessary banking details of CoinEvo to the user's bank to transfer funds.

Alternatively, users can opt to deposit funds using credit cards, allowing for quick and easy transactions. By securely inputting their credit card information on the platform, users can swiftly add funds to their CoinEvo account.

Moreover, CoinEvo supports e-Wallet options for both depositing and withdrawing funds. Users can link their preferred e-Wallet accounts to their CoinEvo profile, enabling seamless transfers between accounts.

Customer Service

Customers can get in touch with customer service line using the information provided below:

Email: support@coinevo.co

Conclusion

In conclusion, CoinEvo offers flexible leverage options for traders but comes with several drawbacks. The platform is unregulated, leading to potential concerns about investor protection. The inaccessibility of the website and lack of support for MT4 are additional limitations that may impact the user experience. Furthermore, wide spreads on the EUR/USD pair can increase trading costs for users. Overall, traders should carefully consider these factors before choosing to trade on the CoinEvo platform.

Frequently Asked Questions (FAQs)

Q 1: Is CoinEvo regulated by any financial authority?
A 1: No. It has been verified that this broker currently has no valid regulation.
Q 2: How can I contact the customer support team at CoinEvo?
A 2: You can contact via email: support@coinevo.co.
Q 3: What platform does CoinEvo offer?
A 3: It offers Webtrader.
Q 4: What is the minimum deposit for CoinEvo?
A 4: The minimum initial deposit to open an account is $250.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.

In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

User Reviews

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FX1622589877
more than one year
I'm really disappointed with the customer service provided by CoinEvo. Despite requesting my account to be upgraded to their elite tier since May 2023, they still haven't processed the upgrade. Instead, they unilaterally changed my account from Pro to VIP without notifying me, resulting in higher spreads and commissions.
2024-02-23 10:50
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郑州街球王者
more than one year
Leverage 1:100 - it's more than enough to become rich-to-the-sky if you know what you're doing. I even managed to double on a daily basis the demo account using this leverage in contest conditions (mean using a higher risk than what I would use in live conditions. However, I did not get the pleasant trading experience when I started real trading. That’s why I left this broker soon.
2023-03-23 09:47
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张张大魔王
more than one year
Very bad experience, don't trust them, no account safety, no reply to your doubts, money management is bad, and don't put your hard-earned money into CoinEvo.
2022-12-19 12:06
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