Coinzp has been flagged by Ontario Securities Commission for "Unregistered/Unlicensed entity offering financial products or services". Coinzp found at www.coinzp.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.
KYC with Coinzp 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: No hidden fees|Market news feed
Cons: No live chat on mobile|Minor UI glitches occasionally
The reporting at Coinzp is laughably bad. Tax documents are inaccurate, transaction histories have gaps, and trying to export data for your accountant is a nightmare. For a financial platform, getting the numbers right should be the bare minimum.
Pros: Fast support response|Intuitive for beginners|Smooth onboarding|Personal attention
Cons: Currency conversion fee exists
I have been trying to close my account with Coinzp 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: Wide product range|Great customer service
Cons: No crypto staking
Do not believe the bonus offer from Coinzp. The turnover requirement is designed so you can never withdraw. I learned the hard way. I deposited based on a colleague's recommendation and the bonus terms were buried in pages of small print. My fault for not reading but their design is predatory.
Pros: Regular platform improvements|Multiple order types|Regular updates|Market news feed
Cons: Inactivity fee applies after 12 months|Desktop app not available on Linux
I opened an account with Coinzp for about five months ago. The platform frequently logs you out, orders fail to execute at the stated price, and when you complain they blame your internet connection. I have screenshots proving otherwise.
Pros: Wide product range|Regular updates|Low minimum deposit|Real-time alerts
Cons: Wait times can be long during peak hours|Mobile app could be improved
Coinzp offers copy trading. I copied a top trader. The copy trades often executed at worse prices than the original. When I asked why they said it was due to latency and liquidity. So the feature is broken or they are skimming. Either way I stopped using it.
Pros: Real-time alerts|Fast deposits
Cons: Nothing significant
The hidden fees at Coinzp 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: Helpful community forum|Low minimum deposit|Customizable dashboard
Cons: No crypto staking|Nothing significant
The only good thing about Coinzp is that they remind you why regulation matters. I found them after my brother mentioned them. 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: Full transparency|Risk management tools|Fast support response|Excellent charting
Cons: Live chat only during business hours|Search feature is basic
Coinzp 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: Clear documentation|Tax reports included
Cons: Some tools only available on higher tiers|Limited demo account features
My withdrawal request from Coinzp 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: Regular updates|Full transparency|Instant funding|Stable platform
Cons: Spreads widen during volatile periods|Could offer more webinars