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.
My withdrawal request from Coinastar has been pending for over two weeks now. Every time I contact support, I get the same copy-paste response about processing times. This is unacceptable for a financial platform in this day and age.
Pros: Great customer service|No hidden fees|Good mobile app
Cons: Limited ETF selection
Coinastar advertises low fees but once you dig into the fine print, there are numerous charges that add up quickly. Inactivity fees, withdrawal fees, currency conversion fees - it all eats into your returns. I wish I had read the terms more carefully.
Pros: Market news feed|Fast deposits
Cons: No crypto staking
I joined Coinastar through a financial advisor and from the start, things felt off. The signup process collected far more personal information than necessary, the verification took unreasonably long, and when I finally got access, the platform was nothing like what was advertised.
Pros: Dividend tracking|Social trading features
Cons: Limited cryptocurrency options|Account statements could be more detailed
I lost a significant amount because Coinastar did not execute my stop loss during a flash crash. They said the market was illiquid. Other brokers managed to execute. I have no proof they did not trade against me. Avoid.
Pros: Real-time alerts|Quick verification|Risk management tools
Cons: Currency conversion fee exists
My card was charged twice by Coinastar on the same day. I had to dispute it with my bank. Coinastar then froze my account and said I had a negative balance because of the chargeback. They created the problem and then punished me for it.
Pros: Competitive fees|Automated trading options|Responsive team
Cons: No fractional shares|Withdrawal takes 1-2 business days