Since the FTX exchange collapsed, many regulators decided to strengthen crypto trading rules and supervision. Canadian authorities were no exception, imposing a new rule forbidding leverage.
Our detailed HubKoin review will show you how this crypto exchange violates the rules. Moreover, they’re trying to convince citizens of their legitimacy.
Canada has CSA, Securities Administrators monitoring all companies and coordinating between regional license providers. Yet, we were unable to find a HubKoin regulation in their register.
As mentioned, after the FTX collapse, CSA has decided to ban leverage on crypto trading in the country. Yet, HubKoin offers 1:125. Even in the EU, there’s a strict limit of 1:2 due to the asset’s high volatility. It’s clear that HubKoin avoids complying with license providers.
Knowing this, let’s move on to regulatory warnings.
HubKoin is owned by Pink Piggy Investment Group Inc. The company is registered with FINTRAC but is not regulated by any Canadian authorities. There are a number of negative reviews.
In their presentation, HubKoin says it’s a firm located near Toronto. And indeed, their registration address is in Mississauga, Ontario.
According to our analysis, HubKoin victims mainly come from the following countries:
Each of these countries has regulators overseeing the activities of crypto brokers and exchanges. Yet, HubKoin cannot be found in any register. According to a SimilarWeb traffic report, the site has fewer than 5,000 visits a month, with the majority being from the US.
As you may know, US citizens cannot trade with brokers not registered in the country. Therefore, it’s another proof of HubKoin’s illegal business practices.
The website is not designed with users in mind. Before registering an account, you cannot see the HubKoin trading platform or check for any features, including payment options. We suspect it’s a tool to get ahold of your personal information, such as email and phone number, so they could start with endless sales calls.
All we know is that the company offers some sort of WebTrader with dedicated mobile apps. Since we already know that HubKoin is not a legitimate exchange or trading service provider, you should avoid it by all means.
HubKoin is a designated crypto exchange. You have no other assets besides digital coins.
We’ve found a list of 11 currencies, including:
However, the list is full of spelling mistakes and issues. Hence, doesn’t really make us trust the website or those behind it. Be cautious and invest with regulated brokers and crypto exchanges. It’s your best bet to save money.
The exchange doesn’t offer any account types nor a risk-free one. There’s no HubKoin Demo where you’d be able to review the software and the actual offer of tradable coins.
We don’t know much about payments and initial sums you need to invest, as the company doesn’t allow you to see anything before registration. We’re quite hesitant to provide our details to an unregulated, blacklisted firm, and so should you be.
If you lost your money with HubKoin or cannot make withdrawals, contact Global Fraud Protection immediately. Our chargeback experts and CipherTrace crypto specialists can assist you with this matter and help you track and trace your funds.
Don’t give up, and don’t let scammers win! Fight for your cash, and we’ll be on your side!
HubKoin is an unregulated crypto exchange. If you cannot withdraw your funds from this financial swindler, we might be able to help with monetary recovery.
HubKoin has a mobile app, but you cannot access it before registering an account.
HubKoin doesn’t offer a risk-free Demo account or any information prior to registration.
HubKoin is an unregulated crypto exchange. If you cannot withdraw your funds from this financial swindler, we might be able to help with monetary recovery.
HubKoin has a mobile app, but you cannot access it before registering an account.
HubKoin doesn’t offer a risk-free Demo account or any information prior to registration.
The post HubKoin Review 2023 – Broker With A Bad Reputation appeared first on Global Fraud Protection.
