CoinEvo Review: Coinevo.co a Total Scam

CoinEvo is a company trading stock, metals, energies, forex, and cryptocurrency. They claim to understand and know how to trade better than their competitors. The firm guarantees clients their funds are in better hands. 

We noticed several grammatical errors going through their website, which shows unprofessionalism. If the company cannot afford to hire an expert copywriter, what makes you think they will be able to generate high profits? Instead of instilling confidence in clients, you will always be on the lookout wondering whether your money is safe.

CoinEvo fails to credit the team behind its alleged success. Traders need to know the researchers, developers, and financial analysts of a broker. The regulatory bodies mandate all investment schemes to operate in full transparency. Therefore, the qualification of each team should be published on the website.

To enjoy peace of mind, you need to settle with a licensed crypto company. Here is a list of some of the best ventures in the market. Their happy client endorses them, and you can also go through their performance to determine if they can meet your needs.

Coinevo.co Review

CoinEvo allegedly provides free and direct access to the financial market. They have several products which clients can use to diversify their risk. The platform also provides a market overview, multiple trading plans, and strategy implementation. These are some of the features which make them believe they are your best choice.

Investment is all about the numbers, something which this platform lacks. The trading performance of the broker is missing. Therefore it is hard for us to view their past results. The company also claims the withdrawal and deposit process is fast. Unfortunately, we are yet to see anyone who has successfully cashed out from the website.

CoinEvo does not have any existing customer reviews. We cannot endorse them without knowing their clients' experiences. It also appears the broker made its first digital footprint in July 2021. The domain name is expected to expire after a year. We highly doubt the shady venture will renew its contract after being exposed.

Ponzi schemes mainly target novice investors as they lack adequate knowledge. Investment has become more accessible and affordable, and many people continue to join the market. Nonetheless, this does not mean that all brokers are genuine. There are many scammers. Hence, it is essential to run a thorough background check before depositing your hard-earned money.

CoinEvo Trading Conditions 

CoinEvo is offering a webtrader platform. It does not come with advanced features, nor does it allow clients to trade automatically. Investors who are familiar with the MetaTrader software will avoid the scheme.

Moreover, scammers prefer the inferior trading interface as it is easier to manipulate prices. Additionally, the availability of a platform does not guarantee investment. Fraudsters will still defraud innocent investors of their hard-earned money. 

CoinEvo trading conditions are undesirable. The EURUSD currency pair has a spread of 3 pips. The average market standard is 1.5 tips, but you still find reliable companies offering tight spreads below 1 pip.

Their leverage ranges from 1:100 to 1:300. The limit is profitable, but still, when accepting a high cap, you should also expect huge losses. The United Kingdom, European Union, and Australian government allow a leverage cap of 1:30. They do this to protect investors against severe risk.

Scammers will only have you looking at the positive side without revealing the risks involved. The market is volatile, and those who do not have a high-risk appetite and adequate skills should refrain from accepting high leverage.

Withdrawal and Deposit 

CoinEvo accepts funds via e-wallets, wire transfers, credit, and debit cards. Nonetheless, it appears it's only the latter method that is working. Why feature various options without providing them? Investors can start trading with a minimum amount of $250.

The capital is on the upper hand, yet the company lacks unique features. You will be getting a primary trading platform and hazardous conditions. There are better investment schemes in the market that accept as low as $10. Their account information does not match what you shall get once you open a live account.

CoinEvo allows customers to withdraw a minimum of $100 for credit/debit cards and $250 for wire transfers. Genuine companies will not have such an unfair withdrawal requirement period investors can cash out any amount they please.

Their fees are also a clear indication the broker is after your funds. Clients who use the wire transfer option need to pay a fee of $50. Credit/debit cards have a fee of $25 and a processing charge of $10.

CoinEvo dormant account policy is another extortion. If your account is inactive for six months, the platform will deduct 10% available on the account every month. Legitimate brokers charge inactivity fees, but they do not ask for anything above $10. Walk away from the Ponzi scheme while you still can.

Contact Details and Customer Support 

CoinEvo requires investors to verify their accounts. The company is asking for a lot considering that they do not provide any contact details. A platform that does not care to disclose its area of operation should be avoided.

Clients can only reach them via email. You can rest assured the message you sent them will not be opened. Ponzi schemes do not care about their clients. Their only focus is the money you are willing to spend on their ambiguous services.

CoinEvo Regulatory Status

CoinEvo is a verified scam that is ambiguous. The company operates from Saint Vincent and the Grenadines, an infamous region accommodating numerous Ponzi schemes. The Italian financial body CONSOB has blacklisted the broker for illegally targeting its citizens. You should refrain from doing business with the entity as you will only end up facing losses.

No agency oversees the operation of the platform. The company can do anything it pleases without minding the consequences. It would also be impossible for the authorities to trace them down when they observe a high level of anonymity.

Lilac Group LLC is the parent company of CoinEvo. The information is only available for formalities. They are for the ownership information that is not provided. It would also be impossible to issue a chargeback from an offshore platform. The venture lacks transparency, and it does not care about its customers.

Customers should also not expect negative account balance protection. The entity is also not reporting its daily open and closing trade results. They can face bankruptcy, considering the broker has not deposited the capital requirement of various financial bodies. Who knows whether they have enough money to run their business?

Ensure that you stick to licensed companies to enjoy better trading conditions. Legitimate companies do not change their terms and conditions overnight. They also handle withdrawal requests in time without any hidden terms. Offshores brokers, on the other hand, are unpredictable.

Final Verdict 

CoinEvo is another obvious scam that has already been exposed. The platform is illegally in business. They are targeting novice investors by using false trading conditions. A Ponzi scheme even claims to be an authentic company while its sole intention is to defraud customers.

Here is a list of some of the best cryptocurrency companies. These are entities with years of experience. They work with professionals and value their customers. You will enjoy better trading conditions as you earn passive income.  

Are the trading conditions of CoinEvo favorable?

No, the scheme exposes traders to severe risks.

Does CoinEvo have a license?

Unfortunately, this is an illegal scheme

Can Investor earn the advertised returns?

The only thing you can get from CoinEvo is huge losses.