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Coinrec Review

Table Of Contents

Table Of Contents

Coinrec Logo
🌐 Website coinrec.io coinrec.org
🏠 Company coinrec.org Ltd & coinrec.org Corp & coinrec.org Limited
📌 Address 13 St. James's Square, London, England, SW1Y 6JS, United Kingdom & 111 Hudson Street, 24st Floor, Jersey City, NJ 01202
☎️ Phone +442039661272 +18438248117
📧 Email support@coinrec.org complaint@coinrec.org web@coinrec.org
⚖️ Regulation  Unregulated, Blacklisted, Offshore

Coinrec Details

Coinrec is an online trading broker owned by coinrec.org Ltd & coinrec.org Corp & coinrec.org Limited. The company is located at 13 St. James's Square, London, England, SW1Y 6JS, United Kingdom & 111 Hudson Street, 24st Floor, Jersey City, NJ 01202.

To contact Coinrec, their support team can be reached via phone at +442039661272 +18438248117 or by email at support@coinrec.org complaint@coinrec.org web@coinrec.org.

Their website can be found at : coinrec.io coinrec.org

It is essential to exercise caution and conduct deep research before engaging with any online trading platform, including Coinrec.

To help you make an educated decision, consider checking out our in-depth reviews of two other companies we have recently examined: Apextrades.ltd and 24Online TradingCapitals.

Traders Opinion

The first step to protecting yourself from fraudulent parties online is to do thorough due diligence on the companies and entities that you are planning to send the funds to. In all probability, there have been other traders who have already used the same service, and have expressed their opinions and feedback online on various forums.

Reading reviews from other traders who have experienced Coinrec firsthand is crucial in determining the broker's reliability. These reviews offer insights into the platform's functionality, customer service, and overall trading experience, allowing potential investors to make informed decisions.

After conducting some research on various social media platforms (Facebook, Twitter, Instagram), as well as online trading forums, a general theme emerged where users were dissatisfied with their experience with Coinrec. Based on this user feedback, it appears that Coinrec is not a trustworthy broker, and hence, extreme caution should be applied before investing through their brokerage platform.

There are a lot of brokers out there operating under fake company names or that have other fraudulent operations. A little bit of preliminary research can go a long way in protecting you and your finances.

How To Withdraw From Coinrec?

If your funds are stuck in your Coinrec account, you should try to reach out to them first and request a withdrawal by every possible means so that you have proof to show authorities later on if they refuse to process your withdrawal.

Unfortunately, Coinrec is not regulated or authorized to operate by any major regulatory authority, which means it will be a difficult process to withdraw from this company if they decide to ignore your request or suspend your account for trivial reasons.

If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means they are unregulated and should be avoided. Even if the brokerage is regulated, it is best to avoid it if the regulator happens to be outside your jurisdiction.

Investing time in research before trying to invest on a suspicious broker can save you from potential losses and unnecessary stress.

Read more about this topic in our dedicated article: Financial Regulation Authorities.

Is Coinrec Legit or a Scam?

When researching an online broker, the first and most important step should always be to find out if they have a regulatory license from a financial institution. This will tell you whether they are regulated by a central authority or if you are dealing with an offshore and/or unregulated investment company.

When a broker is unregulated or regulated by an entity outside of your jurisdiction, you have limited to no legal recourse in the event that your funds are compromised. In an event of theft, complaints can only be made if that broker is licensed by the regulator in your jurisdiction.

Some examples of regulatory authorities that issue brokerage licenses are:

  • The Cyprus Securities and Exchange Commission (CySEC)
  • The Financial Conduct Authority (FCA)
  • The Australian Securities and Investments Commission (ASIC)

If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means that they are unregulated and should be avoided. Even if the brokerage is regulated, it is best to avoid it if the regulator happens to be outside your jurisdiction.

How Online Trading Scams Work?

One of the most prevalent online trading scams is to initially display profitable trades that give the investor a false sense of confidence, and get them hooked to the idea of ‘easy money’. Once this confidence is established, the investor will be marketed the idea of investing more money to earn greater returns. Additionally, other incentives may also be provided to encourage the investor to get their friends and family onboard the platform too.

Once the brokerage believes that they have extracted all available funds from an investor and his/her network, they will then proceed to suspend the account, and the investor will no longer be able to access the funds put in.

Many fraudulent firms will even claim to be domiciled in a regulated jurisdiction, and display fake regulatory licenses and addresses on their websites to try and improve their credibility with unsuspecting investors.

Be careful and verify your information through multiple sources. Constant vigilance should be applied at all times when trying to invest in trading platforms.

More info about trading scams:

Got Scammed by Coinrec?

If you have lost money with Coinrec, stay calm. It has likely happened to many others, and it its important to learn from these experiences. Do not forget that even the most cautious investors can fall victim to online fraud.

Chargeback Is Your Solution!

The good news is that there is help available. The team at MyChargeBack – a specialist group dedicated to helping consumers recover funds lost online – can help you for your chargeback process:

  • 24/7 availability: Get help whenever you need it.
  • Free consultation: Evaluate your case without any upfront costs.
  • Quick processing: Expedite the recovery of your funds from Coinrec.
  • High success rate: Boost your chances of successful fund recovery.

Relying on a reputable service like MyChargeBack is crucial when dealing with online scams, as the typical chargeback process can often be complicated and time-consuming without the proper guidance.

5 Simple Steps to Get a Chargeback From Coinrec

Follow our straightforward guide to efficiently reclaim your lost funds from Coinrec with minimal hassle.

  1. Complete the Form: Begin by completing the form above, providing necessary details about your case. This allows the team to understand your situation with Coinrec and prepare for the consultation.

  2. Get A Free Consultation: Schedule a free consultation with MyChargeBack team of experts. During this consultation, they will assess your case and offer guidance on the best course of action to recover your lost funds from Coinrec.

  3. In-Depth Case Analysis: As you proceed with MyChargeBack, their expert team conducts an in-depth analysis of your case, identifying the optimal chargeback strategy for fund recovery based on your unique circumstances.

  4. Recovery Process: Their team of specialists scrutinizes your case, collects evidence, and negotiates with the involved parties to expedite the recovery of your funds. MyChargeBack team will consistently communicate with you and your bank or card issuer during the chargeback process.

  5. Fee Payment: Upon successful recovery of your funds lost to Coinrec, MyChargeBack charges a fee as a percentage of the reclaimed amount. If fund recovery is unsuccessful, no fees apply, except in exceptionally complex cases.

Through these five straightforward steps, MyChargeBack simplifies the fund recovery process, enabling you to reclaim your money from Coinrec with minimal inconvenience.

FAQs

Is Coinrec a Legitimate Company to Trade With?

Unfortunately, Coinrec is not a trustworthy company to deal with, as they are not registered or regulated by any major regulatory authority, such as the Financial Conduct Authority (FCA).

What Are the Risks of Using Coinrec?

The risks involved in using unregulated companies like Coinrec include the inability to file a complaint with a credible regulatory authority in case of a dispute.

What Should I Do If I Have Been Scammed by Coinrec?

First and foremost, report the incident to your local authority department. If no resolution can be reached, there is still hope to recover your funds from Coinrec by attempting to open a chargeback case with your bank or credit card provider.

How Can I Get Help for Filing a Chargeback Case?

Since the process of filing a chargeback case can be relatively complex and time-consuming, we recommend seeking assistance from our partner, MyChargeBack, by completing the form provided on top of the page.

In the event of an exceptionally complex case they may require an upfront fee, as building your case will necessitate initial resources. Otherwise, if successful, MyChargeBack will be compensated by retaining a percentage of the recovered funds from Coinrec, typically around 20%.

How Can I Avoid Being Scammed Online?

To prevent falling victim to scams in the future, always ensure that you deal with legitimate companies that are fully regulated by major regulators, such as the FCA.

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  1. This site seems to be a scam.
    I have been interacting with them for 4+ months of which they find numerous excuses to not send ‘my money ‘ which is in the form of bitcoin. In an account of which has limited accessibility. You can see it, interact with it…. but cant withdraw it.
    The story started with a call saying I had funds from a company that was reinvesting my btc illegally. They were a recovery business ( baserec) employed to track down the payees to payback the assets. The call sounded like it was from a busy call centre with lots of background noises. I had used a cloudmining company based in UK that went bellyup so I assumed it was this company and was happy for the windfall.
    I have verified my identity in numerous ways and nothing is ever fulfilled on their end with a bullshit excuse one after another of they have ‘strict anti-money laundering policies’ after each of my follow ups.
    They have failed to send my btc to any crypto exchange/ wallet I gave them. They asked me to verify I had a valid account on crypto exchanges and/ or wallets via ‘team viewer’ which was 100% not secure. I did it though as I made sure I had no assets to risk in that account at the time. They tried to say their accounts team won’t send it to that account because I didn’t have a transaction history. I in fact spoke to the crypto exchange and was told their were no attempts to send and zero incoming limitations on that account ( btc). I was told they had no issue sending to binance as they preffered this pathway. I gave them my wallet address, confirmed full accpunt verification and no transaction happened.
    I fulfilled all the requests that were asked of me by baserec with my account manager and nothing was ever attempted to be sent. This was blamed on their accounts team.
    They then said it was because it needed to be sent to my bank account. I was directed to a website and told to follow the linear prompts with all my identification info. I was asked for passport, bank account, address, etc. Then it took me to a page that asked for my bank account plus my bank login password ( still on their site). ALARM BELLS. I did not do this….as if you would. This smelt fishy as why would they send bitcoin to my bank.. it required being converted to fiat. This was silly. I challenged them on this.
    I then went back and tried to follow other paths on the baserec website. It was full of 404 errors and seems to be just a phishing site. I clicked on an app download which took me to another company which was a real exchange. This was weird so I spoke to the exchange support. They said they didn’t have any association with the company baserec and that it was most likely a fraud site.
    I reported this on scam sites and got an angry call from my baserec account manager. I updated my status to pending and working through it( benefit of doubt). I am now finalising my experiences on every scam site I can to warn people as too much time has passed. All of this could have been resolved in 5 mins.
    My account manager then started saying she was ill and not returning my messages. I then 2 weeks after this was told the account manager will not be returning to the job and that my account is now locked because it has taken too much time ( caused by them!). I was also told the AC didnt give me proper procedures and somehow this was my fault. The AC was genuinely confused why nothing had been sent also ( I was really convinced of her genuinity). I suspect (if real ) that she left the company disgruntled.
    For the initial call it was very professional. The account manager was quite convincing and I even doubted my instincts at times. They never asked for money so I kept messaging with the belief this could in fact be money owed to me.
    I have had no response in weeks… I will be taking furthur action against this company. They are either a scam or a completely incompetant business, either way the world is better off without them.
    If baserec reads this and you are a real company… I suggest you contact me urgently to resolve this as I will be posting this experience absolutely everywhere on the net, contacting authorities and focusing on shutting you down.
    If you are reading this thinking what happened?.. did I get this resolved?…I will delete this if it is resolved. So no…assume scam. I hope I save you any potential grief!

  2. i think these guys have changed name to baserec.com limited.
    They have same Street addresses as above coinrec.org Ltd
    Their new site seems to be http://www.baserec.com
    The Vat number is 11 numbers so its bogus or they forgot a number ( i looked it up.. no such registration)
    I received a call I have BTC from a dissolved company. I tried to call phone number and it is not receiving calls.
    Can you confirm and get back to me cheers.