NBKCOINS, an anonymous cryptocurrency trading exchange, facilitates binary options and perpetual swaps trading. The NBKCOINS operation closely mirrors the unlicensed RaceOption platform.
Our comprehensive NBKCOINS Review will reveal the true nature of this cryptocurrency platform scam. As mentioned, substantial evidence against NBKCOINS ranges from regulatory alerts to numerous adverse reviews and grievances.
Legal Information: Is NBKCOINS Regulated?
When you visit the exchange’s website, you’ll notice an absence of any legal documentation, including company details like name, identification number, address, or contact information. Essentially, NBKCOINS operates in an anonymous fashion, which raises serious doubts about its regulatory status. Furthermore, our investigation uncovered a regulatory warning issued by the Ontario Securities Commission (OSC) on September 1, 2023, further underscoring the risks associated with NBKCOINS.
It is prudent to steer clear of all unregulated cryptocurrency exchanges and binary platforms. Instead, prioritize platforms that operate under the oversight of esteemed financial market regulators such as the FCA (UK), CFTC & NFA (US), IIROC (Canada), ASIC (Australia), JFSA (Japan), BaFin (Germany), and more. Your financial security is paramount, and these regulatory bodies are instrumental in ensuring it.
NBKCOINS’s Targeted Demographics
Based on domain information from godaddy.com/whois, the nbkcoins.com website came into existence on September 24, 2022. Since its inception, NBKCOINS has been extending its unregulated services primarily to traders situated in the following countries:
- United States
- United Kingdom
- Canada
- India
Notably, these countries are home to significant financial hubs, each characterized by rigorous regulations and strict compliance standards. It is important to note that a company cannot legally provide its services in these regions without the requisite licenses, which NBKCOINS conspicuously lacks.
This holds particular significance in the context of cryptocurrencies, given their inherent volatility and unpredictability. Encouragingly, a Canadian financial authority has responded to this cybersecurity threat by issuing a warning to traders, highlighting the urgency of being vigilant in such environments.
Trader Feedback
Having established the fraudulent legal status of NBKCOINS, let’s delve into what traders have to say about this cryptocurrency platform. A quick search for NBKCOINS’ reviews on trustpilot.com reveals an abundance of grievances lodged against the platform.
Traders have expressed significant frustration stemming from various issues, including the malfunctioning trading application, withdrawal difficulties, unauthorized upfront fees, deceptive promises made through dubious WhatsApp conversations, and more. Notably, there isn’t a single positive review to be found, providing a stark indication of the platform’s questionable legitimacy.
Comments