MyCoinBanking
Overview of MyCoinBanking
MyCoinBanking is an established online brokerage firm based in the reputable offshore jurisdiction of Saint Vincent and the Grenadines. Clients can reach the broker through a British phone number. While the exact duration of the company’s operation is undisclosed, sources suggest that the platform has been operational for less than three months. MyCoinBanking primarily caters to retail traders and places a strong emphasis on the significance of security and transparency in trading.
Trading Opportunities with MyCoinBanking
MyCoinBanking offers access to a wide array of trading instruments, encompassing forex, indices, commodities, contracts for difference (CFDs), and cryptocurrencies, totaling over 250 options. The broker ensures competitive spreads, adjustable leverage, and access to various promotions and bonuses. Moreover, MyCoinBanking is committed to enhancing trader knowledge by providing educational resources and advanced analytical tools.
For novice traders, MyCoinBanking extends the provision of a dedicated account manager to assist in executing successful trades.
Referral Program at MyCoinBanking
To expand its market reach, MyCoinBanking actively promotes a referral program. The company offers attractive discounts on brokerage services and even monetary incentives for individuals who refer new clients. Payments are processed on a monthly basis to a designated bank card.
Anti-Money Laundering Measures and KYC Protocol
MyCoinBanking places significant emphasis on combating money laundering, a criminal offense with severe legal repercussions. Prior to engaging with a client, the broker conducts a thorough evaluation of the source of funds, including any potential ties to illicit activities. Adhering to the “Know Your Customer” policy, the company mandates the submission of the following documents:
- Copy of a valid passport with a signature;
- Copies of credit cards for deposit top-up (displaying only the last 4 digits with CVV concealed);
- Copy of the most recent utility bill reflecting the client’s name and address;
- Bank statement illustrating the client’s online transaction history.
Final Thoughts on MyCoinBanking
MyCoinBanking portrays its trading offerings in a manner that may raise uncertainties. However, stringent assessments of a client’s financial background do not compensate for the absence of a licensing framework governing the broker’s operations. Whether entrusting your funds to such an unverified entity is a risk worth taking remains a debatable question.
This review has been prepared by the specialists at ExpertsReview.