Coinsky has been flagged by Autorité des marchés financiers for "Unregistered/Unlicensed entity offering financial products or services". Coinsky is not registered with the Autorité des marchés financiers (AMF) and is not authorized to solicit investors in Québec. This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm. Website domain: coinskypro.cc, coinsky.cc.
I wanted to transfer my portfolio from another broker to Coinsky. They said they do not accept in-kind transfers for my asset type. I had to sell, withdraw, deposit, and rebuy - incurring taxes and spread costs. They did not tell me this before I signed up.
Pros: Good analytical tools|Competitive fees|Multi-currency support
Cons: Would like more payment methods
Several red flags with Coinsky: (1) They promise unrealistically high returns, (2) They're not registered with Autorité des marchés financiers, (3) Their contact information is vague, (4) They pressure you to deposit quickly. I recommend everyone do thorough due diligence before investing with any company.
Pros: Website looks legitimate on the surface
Cons: Flagged by Autorité des marchés financiers|Cannot verify credentials
My withdrawal from Coinsky was rejected three times for vague reasons. Each time they asked for more documents. When I finally provided everything, they said my account was under review. for the past six months of being strung along.
Pros: Full transparency|API access
Cons: Alert system is basic|Desktop app not available on Linux
I am in a dispute with Coinsky 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: Market news feed|Risk management tools
Cons: Search feature is basic
I was contacted by Coinsky through social media. They promised guaranteed returns of 20-30% monthly. Being naive, I invested. The "account manager" pressured me to invest more and more. When I finally tried to take profit, my account was frozen and they stopped responding. Classic Ponzi/advance fee fraud.
Pros: Initially responsive customer service
Cons: Cannot withdraw funds|Not regulated|Pressure tactics
I had a dispute with Coinsky and went to their complaints process. They have an internal team that just defends the company. Then they said I could go to an ombudsman - but the ombudsman they use is industry-funded and rarely rules for the client. The system is rigged.
Pros: Stable platform|Transparent fees|Dedicated account manager
Cons: Onboarding videos are outdated|Limited social trading features
This company appears on the IOSCO I-SCAN international warnings list. Over 68 financial regulators worldwide contribute to this database. While being listed doesn't automatically mean fraud, it's a significant red flag that potential investors should take seriously. Do your research thoroughly.
Cons: Listed in IOSCO I-SCAN|May not be authorized in your jurisdiction
KYC with Coinsky 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: Smooth onboarding|Demo account available
Cons: None so far
Tried to withdraw my funds from Coinsky and was told I needed to pay a "withdrawal tax" of 20%. This is a red flag. No legitimate broker charges withdrawal taxes. When I refused, they became aggressive and eventually stopped all communication. My entire investment is gone.
Cons: Cannot withdraw funds|Not regulated|Pressure tactics