Coincanon calls themselves a streamlined and secure cryptocurrency exchange that offers a full suite of services such as spot trading, futures and options. They lay a lot of emphasis on providing seamless trading experience to both novice and pro traders. However, closer inspection reveals something else entirely.
For example, they accept US citizens and claim to be fully compliant, but they are not listed on the database of US authorities. Clearly, they are operating outside the boundaries of law and they are likely to cause financial damage to all of the clients sooner or later.
Continue reading to get a glimpse of other concerning aspects we found during our investigation.
Regulation
Coincanon is not listed under FTC or FCA. In fact, we weren’t able to find any license information on their platform. Lack of clarity is an age old aspect displayed by most shady brokerages and this one appears to be no different.
Regardless of how many asset classes are present or the kind of leverage a platform might provide, making sure of the legal status of the underlying platform is crucial. After all, no point in perfecting a strategy or an approach while there is no security of funds deposited right?
Contact Details
We did find a few contact information on their website. During our investigations, we weren’t able to get in touch with them via phone. Most likely, they communicate through emails only.
- Phone – 444-225-4584
- Address – 6885 East Cochise Road #205 Paradise Valley, AZ 85253
- Email – support@coincanon.com
Coincanon User Reviews and Feedback
Coincanon has received a lot of positive user reviews on Trustpilot. At first glance, it looks like a positive sign. However, we are skeptical about them because given their short lifespan, they have got only 5 start reviews.
Think about it, aren’t the ratings too good to be true? Don’t they even have a single customer that ran into issues with them? We wouldn’t take any information they showcase at face value.
Coincanon Review Conclusion
Platforms revolving around trading and cryptocurrencies are plenty. While each one screams to be the next promising venture, do not get into blind speculation.
Always do due-diligence and if the underlying does not have proper licenses then say “no” to them without fail and make no exceptions.
