CoinStats has been flagged by Ontario Securities Commission for "Unregistered/Unlicensed entity offering financial products or services". CoinStats found at www.coinstats.com is not registered in Ontario to engage in the business of trading in securities. This company appears in our regulatory warnings database. Always verify with official regulatory sources before investing or doing business with this firm.
I was about to invest with CoinStats but decided to check their regulatory status first. They claim to be regulated but I could not find them on any official register. Ontario Securities Commission has actually issued a warning about this firm. Thank goodness I checked before sending any money.
Cons: Listed in warning databases|No transparency|Pressure to invest quickly
I referred a friend to CoinStats through word of mouth in my investment club. We both deposited. The referral bonus never arrived. Support said we did not meet the terms. When we asked which terms they pointed to a clause that was added after we signed up. Shady.
Pros: Detailed reporting|Clear documentation|Dedicated account manager
Cons: Charting tools need more indicators
The only good thing about CoinStats is that they remind you why regulation matters. I found them through a financial advisor. They are regulated in a jurisdiction with weak consumer protection. When things went wrong I had nowhere to turn. Stick to well-regulated brokers.
Pros: Easy to use platform|Fast support response|Clean UI|Social trading features
Cons: No fractional shares
Customer support at CoinStats seems to be run by people who have never used the platform. Every time I call with an issue, I end up explaining how their own system works before they can help me. It would be funny if my money was not involved.
Pros: Dedicated account manager|Easy withdrawals
Cons: Slow to add new assets|Minor UI glitches occasionally
Do not be fooled by the professional-looking website. Behind the scenes, CoinStats is disorganized and incompetent. I found them after doing extensive research and I can only assume the positive reviews are either outdated or paid for because my experience was terrible.
Pros: Fast support response|Smooth onboarding|Intuitive for beginners|Dividend tracking
Cons: Alert system is basic
Where do I even begin with CoinStats? since early this year of broken promises, unanswered tickets, and a platform that feels like it was built in 2010. They spend more on marketing than on actually improving their service. Stay away from this company.
Pros: Professional team|Clear documentation|Tax reports included|Low minimum deposit
Cons: None so far|Charting tools need more indicators
I was contacted by CoinStats 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.
Cons: No regulatory oversight|Money disappeared|Fake testimonials
CoinStats 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: Real-time alerts|Intuitive for beginners|Stable platform
Cons: Charting tools need more indicators|No crypto staking
After since last summer with CoinStats I requested to close my account and withdraw. They said I had to complete a 30-day cooling-off period. Then they said there was a minimum holding period for my last deposit. They make it as hard as possible to leave.
Pros: No hidden fees|Two-factor authentication|Comprehensive tools|Responsive team
Cons: Live chat only during business hours|Some tools only available on higher tiers
I was contacted by CoinStats 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