Investor Beware: Shoddy Trading Platform Coinwmarket Only Accepts Deposits, Not Withdrawals

The growing popularity of cryptocurrency and forex investments has created fertile ground for financial criminals, some of whom entice traders with promises of lucrative returns and redirect them to fraudulent websites. After making deposits, traders are often presented with mounting "profits". However, when they attempt to withdraw their funds, they encounter numerous obstacles and may incur additional losses, as scammers exploit false claims of various "fees" to further their schemes.

The trading platform Coinwmarket has come under scrutiny following a trader's complaint about repeated failed attempts to withdraw funds. This incident reported by the complainant has exposed the platform as part of a suspected crypto scam.

The trader was inadvertently directed to the Coinwmarket website after clicking on an advertisement icon. After registering an account, he deposited 467.76 USDT to a wallet address provided on the platform. While the deposit process went smoothly, attempts to withdraw funds were unsuccessful.

After repeatedly failed withdrawal requests, the trader reached out to Coinwmarket’s customer support for assistance. As instructed, they submitted his UID and screenshots of both pending and failed withdrawals. Initially, the support team responded that they would check the issue. However, communication abruptly ceased afterward, and the trader's inquiries have since gone unanswered.

Operating Without a License

Coinwmarket presents itself as an online trading platform offering a variety of products, including digital currencies, forex, and gold, for trading in global markets. However, the platform fails to disclose its country of origin and provides no verifiable information regarding its legal status. Additionally, its website is poorly designed, lacking both professionalism and credibility. No evidence has been found to suggest that Coinwmarket obtains authorization from any recognized financial authority, which poses significant risks to investors.

In summary, Coinwmarket is a fraudulent crypto & forex trading platform. Real trading will never happen on its website, which is poorly performed and dysfunctional, allowing only deposits while making withdrawals impossible. The customer support is ineffective and may lack real personnel, offering no resolution to clients' issues. Coinwmarket has been identified as a fake and unreliable broker; it is strongly advised to avoid any engagement with this platform.