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Coin Rush Trade Review | "The World's Leading Social Trading Platform" or a Scam?

by Kevin Berry
Rating: 
  1.2/5   Reviews: 3
Coin Rush Trade - logo

“Trade with confidence on the world’s leading social trading platform” – is the proposition from the brokerage company Coin Rush Trade. This Singaporean firm claims to have regulation and over 30 awards. Well, these are bold and intriguing statements that need verification. There aren’t as many reviews online as one would hope, so it’s unlikely that the broker has been in the forex service market for long. In short, the organization requires a check for signs of a scam. If you’re interested, join our investigation.

Highlights

🏛️ Country Singapore
⚠️ Regulation
🖥️ Website https://www.coinrushtrade.com/
🎲 Demo Account No
⏳ Start Time 2023
💲 Minimum Deposit $500
⚖️ Minimum and Maximum Leverage 1:888
⚙️ Trading Platform WebTrader
📨 E-mail support@coinrushtrade.com
📞 Phone +447429536270, +61286040824, +18198011474

First Impression of Coinrushtrade.com

The official website for any company is its face; it’s the first thing a potential client gets acquainted with. Therefore, the site should be of high quality, useful, and informative. However, Coin Rush Trade decided to do things differently. Instead of a full-fledged and quality website, we are presented with some sort of fragment, which they either forgot to complete or intentionally created this way. The top part of the site contains only sections about the firm, contacts, and a few legal documents, although there should also be information about the platform, types of accounts, and many other conditions. The text contains many meaningless and pompous phrases that don’t carry any meaningful content.

Coin Rush Trade - site

The graphic design of the site features a beautiful cityscape and a photo of a person in a suit talking on the phone. Not only is the resource template-based, meaning it’s made according to some general template like the websites of many other brokerage companies, but it also lacks proper graphic design and uniqueness. The only supported language is English. Overall, Coin Rush Trade didn’t bother to create a quality resource, and it is undoubtedly a downside. The broker even forgot to remove the template phrase, which serves as an example in the builder where this site was created: “Lorem ipsum dolor sit amet, consectetur adipiscing elit, sed do eiusmod tempor incididunt ut labore et dolore magna aliqua. Et malesuada fames ac turpis egestas maecenas”.

Site2

Partnership and Bonuses

The affiliate program and bonus promotions, apparently, are absent. At least, Coin Rush Trade doesn’t mention these opportunities on its website. And it is strange because an affiliate program serves as a good tool for a broker, allowing them to increase the number of clients, and for traders, it’s an additional income.

Account Opening on Coinrushtrade.com

How to create a personal account here is a separate mystery that’s unclear how to solve. Why? Because there’s no “registration” button on the Coin Rush Trade website. There’s only a “login” button. How do you register an account? Do you need to contact technical support with such a question or what? Even if that’s the case, why not have open registration? Why is it so complicated? Even a demo account is missing.

Verification

Nothing is known about the verification procedure in Coin Rush Trade, as there are no mentions of KYC. Even documents related to the AML&KYC policy are missing. And it is another significant drawback because any broker is obliged to require verification if they operate legally. If there’s no KYC, it means the company doesn’t comply with regulatory requirements, so it probably operates illegally.

Pros
  • None.
Cons
  • AML&KYC policy document is not available.
  • Do not disclose information without prior registration.

Trading Software

The trading platform at Coin Rush Trade is presented in the form of a basic WebTrader. It’s also indicated that the terminal can be downloaded both on computers and on iOS/Android smartphones. Traders can use tools for technical analysis, indicators, market and pending orders, as well as stop-losses/take-profits. They can also change the chart type and timeframe.

Terminal

However, there’s a catch. Since it’s unclear how to register an account with Coin Rush Trade, it’s also uncertain what the terminal actually offers, its strengths, and weaknesses, its capabilities, and its limitations. The company shares limited information about the platform, not detailing the terminal’s features. Judging by the screenshots available on the main page of the website, this terminal can’t be called professional and multifunctional. Instead, it seems basic and significantly lagging behind more popular alternatives.

Features Coin Rush Trade Royalzysk Fusion Markets
Demo Account ✔️
Mobile App ✔️ ✔️
Own Development

How Can I Trade With Coin Rush Trade?

The broker provides access to major asset classes: forex, metals, indices, commodities, cryptocurrencies, stocks, and ETFs. All instruments are exclusively in the form of CFDs. The minimum deposit, leverage, and other conditions at Coin Rush Trade depend on the chosen tariff plan, which we will now examine.

All Info About Accounts

Coin Rush Trade offers three tariffs to its clients:

  1. Mini from $500. Minimum lot size from 1,000, and leverage up to 1:888.
  2. Green from $5,000. Minimum lot size 100,000 units, and leverage up to 1:200.
  3. Premium, over $10,000. Leverage up to 1:100, and dedicated personal manager.

Account types

What differentiates the account types from each other? Almost nothing. So, what was the point of such a division? Almost all conditions for traders at Coin Rush Trade are common: variable spreads, negative balance protection, deposit currency in USD, EUR, or GBP, 24/5 live support, free daily analysis, instant executions, and a personal account manager. The company could have come up with more interesting conditions.

Moreover, there are several drawbacks with Coin Rush Trade. Firstly, leverage up to 1:888 is excessively high. It hints at a clear non-compliance with regulatory requirements, indicating the company’s illegitimacy. After all, regulators prohibit offering leverage more than 1:30. Secondly, what are the commissions and the size of the spreads? Such crucial parameters aren’t even mentioned. Thirdly, is there an Islamic account available? Fourthly, the high minimum deposit. $500 is a high threshold for the initial deposit, especially when compared to requirements at more popular and well-known brokers, where the threshold ranges from $10-100.

Pros
  • None.
Cons
  • No demo and Islamic accounts.
  • High minimum deposit.
  • Important conditions are not specified.

Market Analysis and Education With Coinrushtrade.com

The additional service in Coin Rush Trade is almost non-existent. On the main page, there are online quotes sourced from the popular Tradingview. Besides that, the broker promises to provide clients with free educational materials, but for some reason, it seems to have forgotten about the economic calendar, analytics, and news feed.

Deposit, Withdrawal, and Fees

Coin Rush Trade accepts money transfers via credit/debit cards and bank wire transfers. Owners of the “Green” tariff can also transfer money using the Neteller payment system. However, the broker doesn’t specify any commission fees, fund crediting times, or withdrawal request processing durations.

Features Coin Rush Trade Clark Financial VastWealth
Debit/Credit Cards ✔️ ✔️ ✔️
Electronic Payments ✔️ ✔️
Crypto Transfers ✔️
Deposit Fee ✔️ ✔️
Withdrawal Fee ✔️ ✔️

How Can I Contact It?

You can contact Coin Rush Trade’s managers in several ways. These include three phone numbers and an email address. Users also have the option to submit a feedback request through a special form. However, the broker hasn’t set up any social media accounts, nor is there an online chat for immediate communication with support managers.

A check of the contact details revealed that the email address doesn’t exist. In other words, the broker provides a fake email. It’s also worth noting the absence of social media accounts. It is significant because Coin Rush Trade operates as an online broker, and social media platforms are essential avenues for advertising and acquiring new clients.

Pros
  • None.
Cons
  • Email doesn’t exist.
  • There are no social media accounts.
  • Online chat is not available.

Is Coin Rush Trade Dangerous?

The broker appears highly suspicious and risky. The absence of a registration form, a fake email address, and an unfinished, low-quality official website are all concerning. What other red flags are present with Coin Rush Trade? Let’s delve into how long the firm has been operating and what licenses it might possess. After that, we can conclude.

How Long Does The Broker Work?

Like many other broker scams, Coin Rush Trade doesn’t disclose its founding date. Why not mention when the platform was launched? Additionally, there are no registration documents that could indicate the date of the company’s legal registration. Unfortunately, they are missing. How can we determine the platform’s launch date? One way is through the website’s domain. It was created in August 2023, which is very recent. Such a short operational period cannot be considered extensive or reputable. Essentially, the broker hasn’t even stood the test of time.

Domain

How Is Coin Rush Trade Regulated?

The broker’s legal address is listed in Singapore. In this jurisdiction, the Monetary Authority of Singapore (MAS) oversees the activities of financial companies. Therefore, our task is to check the registry of this regulator for the presence of the subject of our review. Unsurprisingly, Coin Rush Trade is not found there. The search yields other organizations that have no relation to the firm in question.

Coin Rush Trade - MAS

The website lists phone numbers from Australia and Canada, suggesting that the broker might have offices in these jurisdictions. Just to be sure, we’ll check the Australian registry, which is ASIC. Perhaps Coin Rush Trade is listed there? No, the broker is not found. Checking the financial commission registry of Canada seems pointless at this stage. It’s clear that the company operates unlawfully, as it holds no licenses.

Coin Rush Trade - ASIC

Features Coin Rush Trade Legends Financial Company GoldNrise
European Zone
Asian Zone
American Zone
African Zone
Offshore

Frequently Asked Questions (FAQ)

How to Trade With Coin Rush Trade?

It's unclear how to start trading with the firm. The section dedicated to account registration is missing on the website. Perhaps one needs to contact the company's representatives.

Is Coin Rush Trade Legit?

The broker operates unlawfully, as it doesn't possess any licenses. We've checked two official registries, and no licenses were found for them.

How Risky Is It?

Trading with Coin Rush Trade is an ultra-high risk. The company is fraudulent, so your money will be stolen, and retrieving it will be impossible.
Kevin Berry
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Expert Opinion

I can’t even imagine who would invest money in such a fraudulent site as Coin Rush Trade. Perhaps complete beginners who can’t distinguish a legitimate and verified company from an outright scammer. And I have a question: “How do you create an account?”. As already mentioned, you can’t create an account because the registration form is missing. Perhaps the scammers use some other method to deceive trusting people out of their money. If you know how exactly this scambroker deceives traders and what fraud scheme is used here, please leave your comment after the review.

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Coin Rush Trade rating

The level of trust
Quick withdrawal of funds
Efficiency of technical support
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The level of trust
Quick withdrawal of funds
Efficiency of technical support

3 reviews about Coin Rush Trade

Oldman October 4, 2023 - 05:16
They owe me $700
The level of trust
Quick withdrawal of funds
Efficiency of technical support

They owe me over $700 and don’t want to give it back!! Please return the money, I really want to get my money back. How can I retrieve my funds from this fake platform? I was foolish to trust these scammers, and they deceived me…

Reply
Taik Tarik October 9, 2023 - 16:59
I'm warning you that people are being scammed here
The level of trust
Quick withdrawal of funds

I want to warn you that you’ll lose your money here. I recently spoke with someone who was scammed by Coin Rush Trade out of 3k dollars. The person thought they were investing in a legitimate company, trading with a personal analyst, but instead, they transferred money to pathetic scammers who just took their money.
The individual didn’t experience any trading, and consequently, didn’t earn anything. Instead, they lost 3k dollars. It’s quite upsetting, don’t you agree? So, it’s crucial to verify the organization you’re going to collaborate with. You should steer clear of fraud projects like Coin Rush Trade.

Reply
Sendly October 12, 2023 - 12:15
Scambroker, where you definitely can't trade.
The level of trust
Quick withdrawal of funds
Efficiency of technical support

If you want to trade safely and withdraw your earned money, you should avoid scambrokers like Coin Rush Trade. Why? Because it’s an illegal broker engaged in fraud, stealing people’s money, denying withdrawals, and offering a fake platform with fake charts. I’m confident that the legal address in Singapore is 100% fake, which means this scam isn’t legally registered. It doesn’t exist. There’s only a website and that’s it. Is this a reliable brokerage partner? Definitely not. You should trade and collaborate with a safe firm that has been operating for 10-20 years, holds licenses, provides guarantees, and offers favorable trading conditions. You won’t find that here. That’s why you shouldn’t cooperate with fraud brokers.

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