Scam Victims Help has extensively researched on COTP Review and found that there are a number of red flags which every trader should be aware of. Let us read the full COTP Review
Broker Website – https://cotps.net/
Headquarters or Area of Operation – It seems to be originated in SE Asia
Warnings – Not Recommended By Scam Victims Help
When was the COTP website domain set up?
|Date Registered||October 02, 2021|
|Domain Age||1 year, 1 month, 14 days, 5 hours, 56 minutes, 40 seconds|
Having the potential to make someone go into a debt trap, scammers lure their victims in with irresistible offers and discounts. In this segment, we will be telling our readers about a few important points that you must look for in a broker before opening an account with them. Remember, nobody has a right over your money. COTP is found to possess some or all of the following traits of a scam broker. Please read them below and verify with COTP.
COTP Review: Introduction
Cryptos OTC Trading Platform or COTP is an online trading and investment platform. The platform is well-versed in arbitrage and over-the-counter trading. 3.6% is the everyday profit from investments. In reality, COTP is a potential scam. COTP is a US broker, as it is registered in Colorado. Since it is offering investment services, it must be regulated, yet it isn’t. So it is overstepping the regulations and is an unlawful investment service.
According to COTP, it is licensed by FinCEN, but FinCEN isn’t a regulator that oversees investment services. The FinCEN expressly states that consideration of a business on its website does not imply authenticity. So, clearly, COTP is an unapproved and unlawful investment service.
COTP Review: Red Flags
COTP Review: COTP Regulated or unregulated ?
Mostly, unregulated brokers offer investment opportunities that look and sound very attractive with the highest potential gains. Try to avoid such brokers as they must be trying to divert your attention from the regulation part. Sometimes, unregulated brokers share fake information about the regulation, true information is consistently open through the regulator’s sites, so analyze it cautiously.
In our case, COTP is unregulated, which is a major red flag against the broker in this COTP review. Check out more unregulated and untrustworthy scam brokers in our Scam Broker 2022 list. There are COTP Warnings also from Regulation authorities.
COTP Review: Withdrawal Issues
Scam brokers convince customers that because of some technical problem they can’t access their accounts. They might utilize the accompanying strategies:
- Will charge high withdrawal expenses.
- Will forcefully encourage investors to make additional trades.
- Stop communication.
If COTP is doing any of these things and not allowing fund withdrawal, contact us today.
You can find many negative COTP reviews on the web. We advise you to do a search for online reviews of brokers. A conventional web search can give experiences into whether negative remarks could simply be a disappointed dealer or something more serious. A decent enhancement to this kind of search is our scam brokers 2022 list, which indicates who are scam brokers and why you should avoid them. Acquire a more clear comprehension of the guidelines for forex brokers and any other brokers.
Is Minimum Deposit permissible?
The minimum deposit is generally asked in very small amounts by legitimate brokers as taking huge amounts as the minimum deposit is not advised by the regulations. However, the tradition of taking huge minimum deposits is extremely common in scam brokers as their main aim is to steal as much money as they can from the trader before they get suspicious. The usual amount asked by legitimate brokers lies in the range of $5 to $10. If the broker asks for an amount more than the average, chance of a scam.
Is COTP Legit or scam ? Final Thoughts
To sum up, all that has been said above in this COTP reviews, we give you the power to decide whether the broker is a scam or not. We request the readers move forward with extreme caution.
Scam Victims Help specialists research the brokers and find if they are involved in scams. We researched a lot about brokers to assist customers in taking the right decision.
We suggest investors stay away from this broker and go for the genuine one. If you have been a victim of COTP scam or any other broker, do not feel embarrassed.
Victims of forex scams, cryptocurrency scams, binary scams, pet scams, dating/romance scams, or any number of scams should raise their voices and get their funds recovered. This will not only help them but all the victims who are struggling to get their deposits back. Apart from this, it will also help other people to be alert to such scammers and scams.
File a complaint against COTP fraud right now and get instant help from our team in fund recovery!
Also, read Zahamax review here.
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Also, check which brokers got the warning from the Italian regulator CONSOB.