Banqoin is an unlicensed Forex and Crypto Currency Broker, that opened in August 2018. They are no longer operational.
Banqoin is officially owned by a company called Infocom Media Ltd, which is located either in the Marshall Islands or Saint Vincent and the Grenadines. Contact phone number is: +441571940006 (UK), and their main email address is: [email protected] Official website is: https://www.Banqoin.com.
Our review of this broker shows that they offer investors the simple trading software, developed by Finantick. The trading software is 100% web based and they offer CFD trading on a variety of Forex pairs and Crypto Currency. Three account types are shown; Bronze, Silver and Gold with the minimum deposit requirement starting at $100.
The trick you may fail to notice are the 150% bonuses they offer new clients. Most investors do not read the brokers terms and conditions, and don’t know that bonus money is not free.
Bonuses issued to Client by Banqoin may only be withdrawn subject to execution of a minimum trading volume of 30 times the deposit amount plus the bonus issued.
Brokers bonus money is the number one reason for complaints by investors wanting to withdraw their money, read why.
Get Rich Quick Scams
Hundreds of “Get Rich Quick” scams focused on Bitcoin trading are now permeating the online world. Systems which go by the name Tesler App and Bitcoin Code promise to make money for you, but they don’t actually work.
Educate yourself on how the scams operate, before you become the next fraud victim, read more here.
Banqoin License Check
When the Scam Broker Investigator researches a new Forex / Crypto trading broker to determine if they are a scam or legitimate broker, we check for one thing, and that is a brokers license. Legitimate brokers will be licensed in the United Kingdom by the FCA or in Australia by ASIC.
Banqoin is not a licensed broker.
Newbie Investors and Day Traders can find quite a few brokers to use, that are licensed and regulated, just look here.
Compare Forex Brokers
Try a Free Demo Account, on their award winning trading platform, signup here.
Are you currently investing with this broker? Please share your thoughts in the comments below.