Coinastar has been flagged by Financial Markets Authority for "Unregistered/Unlicensed entity offering financial products or services|Fraud ...". This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I found this company through a friend who recommended it. Before investing, I checked various regulatory databases and found that Coinastar has been flagged as an unauthorized entity. I informed my friend immediately. Please always verify with official sources - a quick search could save you thousands.
Cons: Listed in warning databases|No transparency|Pressure to invest quickly
Do not be fooled by the professional-looking website. Behind the scenes, Coinastar is disorganized and incompetent. I found them through word of mouth in my investment club and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Fast deposits|Intuitive for beginners|Clean UI
Cons: Slow to add new assets|Limited demo account features
I am in a dispute with Coinastar over a trade that was clearly erroneous. The price shown was wrong, I closed at a profit, and they reversed the trade and took the money back. They said it was a system error. So I lose and they keep? Unacceptable.
Pros: High security standards|Excellent charting|Multiple order types|Risk management tools
Cons: No crypto staking
The platform itself is okay, but the customer service at Coinastar is truly awful. I waited weeks for a response to a simple inquiry. When they did respond, it felt like a generic template that did not address my specific issue at all.
Pros: Fast support response|Easy to use platform
Cons: Could offer more webinars
I had high hopes for Coinastar through a forum discussion, but my experience has been disappointing. Customer support is slow, the platform has frequent issues, and their fee structure is not as transparent as advertised. I am actively looking for alternatives now.
Pros: Economic calendar|Good mobile app
Cons: Spreads widen during volatile periods|Minimum deposit could be lower
The hidden fees at Coinastar are the real scandal here. What they advertise and what they actually charge are two different things. By the time I realized how much I was paying in various fees and spreads, I had already lost a meaningful amount.
Pros: Dividend tracking|Full transparency|Wide product range|Professional team
Cons: Cannot customize dashboard fully|Minimum deposit could be lower
I invested $25,000 with Coinastar after seeing their professional-looking website. At first, everything seemed fine - they showed me impressive returns on my dashboard. But when I tried to withdraw, they kept making excuses. First it was "processing time," then "verification needed," then "you need to pay a tax fee first." I never got my money back. I have since reported them to Financial Markets Authority.
Pros: Initially responsive customer service
Cons: Blocked my account|No legitimate license|Fake returns
KYC with Coinastar is a nightmare. I submitted my ID and proof of address. They rejected it and asked for a utility bill. I sent it. They asked for a bank statement. Then they asked for a selfie with the ID. Then they said the selfie did not match. I gave up.
Pros: Demo account available|Social trading features|Great customer service|API access
Cons: Mobile app could be improved
Coinastar has the worst mobile app I have ever used for investing. It crashes constantly, features that work on desktop are missing entirely, and the security implementation is questionable at best. How they released this app is beyond me.
Pros: Easy withdrawals|Great customer service
Cons: Wish they had more educational resources|Search feature is basic
I have been trying to close my account with Coinastar for weeks now and they keep giving me the runaround. First it was a form to fill out, then identity verification again, then a mandatory phone call that never gets scheduled. They make leaving impossible.
Pros: Professional team|Educational resources
Cons: No live chat on mobile