Warning Scam Broker: Coingate ForexPro

CoingateForexPro claims to be able to provide "profitable working conditions" for its clients. This firm also advertises that its "specialists are guaranteed to bring profit to all our partners." 

Information about Coingate ForexPro

Web address: coingateforexpro.com

• Origin: United Kingdom
• Owned and Operated by: CryptoBanxaTrade / Crypto Banxa Pro Trade
• Type of Offerings: Forex, binary options
• RED List date: 06/12/2023
• This entity operates outside the United States with no or limited U.S. presence.

CoingateForexPro also advertises that you can "generate as much as 4000$ by trading with 500$ in a week." These kinds of unbalanced, dangerous claims about profitability are can indicate that you are dealing with a forex scam. CoingateForexPro lacks regulation in legitimate regulatory jurisdictions and appears on the CFTC's RED watchlist. We do not recommend opening an account with CoingateForexPro.

CFTC has declared:

“It is soliciting and/or accepting funds from U.S. customers and offering a product within the CFTC's jurisdiction. A review by the Commission has revealed that this entity is acting in a capacity that appears to require registration, but it is not registered with the CFTC.

The inclusion of this entity's name on the RED List does not mean that the CFTC or a court has concluded that a violation of any provision of the Commodity Exchange Act or the Commission's regulations has occurred”

Be careful before any decision

Even if the entity you are considering is not on the warning list, always check the information on InfoFinance to see if it is registered with the Financial Commission before opening an account or paying any money.

Generally, entities that solicit you to trade are required to register with the CFTC. If a foreign entity is registered with the Commission, then it is subject to the same regulations and oversight that apply to U.S. registrants.

You may have little or no protections if you choose to trade with unregistered firms that operate outside the United States.

If an unregistered entity solicits you, exercise extreme caution, and watch for the RED flags of fraud. (Although registration offers many protections, it is no guarantee against fraud or mismanagement.)

How to check a broker with InfoFinance?

You can follow these steps to view complaint information

Step 1: Visit Info Finance's official website https://infofinance.com/

Step 2: Click on the Report Broker/ Complaint section right on the website home page

Step 3: Click on the Send Report/Send Complaint bar to start reporting the problems you are experiencing.