CoinFalcon is a UK-based cryptocurrency exchange that was launched in October 2017. The platform offers users a unique crypto trading experience with low fees.
The presentation on the website is pretty neat and polished but is it true? We’re afraid not. The company has been receiving negative reviews lately, which is why we will lay out our arguments against this exchange in our CoinFalcon Review.
| Regulated by: | Unregulated Crypto Exchange |
| Is This Company Safe? | No |
| Known Websites: | coinfalcon.com |
| Have Warnings from: | N/A |
| Registered in: | United Kingdom |
| Operating since: | 2017-05-28 |
| Trading Platforms: | Web |
| Maximum Leverage: | 1:1 |
| Minimum Deposit: | N/A |
| Deposit Bonus: | N/A |
| Trading Assets: | Cryptocurrencies |
| Free Demo Account: | Not Available |
| How to Withdraw from This Company? | Since this company is unlikely to return your money – contact your bank, Financial Regulator, or simply Reach out to us for professional assistance in recovering your funds. |
Legal Info: Is Coin Falcon Legit?
Let’s start with CoinFalcon’s legal background. CoinFalcon Limited was incorporated on October 6, 2017, in the United Kingdom, and dissolved on June 28, 2022, per the gov.uk. How come CoinFalcon is still operating then? Between those two dates, CoinFalcon opened a subsidiary in Ireland called CoinFalcon Digital Limited on January 4, 2021 (Company-Info).
So the exchange we’re dealing with here is actually operated by the Irish-based entity. That’s not such a big deal but the real problem is that CoinFalcon is not regulated. Even during its time in the UK, the exchange did not obtain an operating license from the Financial Conduct Authority (FCA).
In Ireland, the main financial regulator is the Central Bank and this authority doesn’t have CoinFalcon Digital Limited in its register (registers.centralbank.ie). Case closed – CoinFalcon is unregulated and, therefore, pretty risky. You should avoid trading on unregulated exchanges.
Instead, you should trust a reliable provider that operates under the watchful eye of a renowned financial market regulator such as the aforementioned FCA (UK), CFTC & NFA (US), ASIC (Australia), FINMA (Switzerland), CySEC (Cyprus), IIROC (Canada), etc.
Who Are CoinFalcon’s Clients?
According to the information from the company’s website, as well as godaddy.com/whois, the coinfalcon com website domain was created on May 28, 2017, while the company was officially incorporated in October of that year. Since then, the exchange has primarily been offering services to traders residing in the following countries:
- United States;
- United Kingdom;
- Germany;
- Latvia;
- India.
Needless to say, a provider must be regulated in order to legally offer services in these domains. The United States in particular is known for being the largest financial hub in the world, boasting the heaviest regulation in terms of capital market and digital asset trading. Unauthorized companies have no business there unless they obtain a license.
Some traders even pointed out that they were blocked from trading on CoinFalcon due to being US citizens. But it seems that CoinFalcon accepted some of them after all.
If you’re experiencing issues with CoinFalcon, we are willing to help you recover your hard-earned funds.
Trader Reviews
We noticed the growing number of negative reviews and complaints. Recently, CoinFalcon has been receiving negative backlash on popular forums such as trustpilot.com.
be prepared to get back what has been stolen from you by the awful brokerage because your deposits is all they want. take a moment to figure this out.
Trustpilot user, August 16, 2023.
COINFALCON is a predatory broker who will ensure you invest a good fortune and never acede to your withdrawal requests…
Trustpilot user, July 6, 2023.
What’s even more alarming is that these weren’t the first negative reviews CoinFalcon received. No, you can find complaints against CoinFalcon on forexbrokerz.com that were written just a few months after the company started operating, meaning that this scam has been running for a while now.
Scams you on the margin!!! Stay away!!!
COMPLETE SCAM. They take a HUGE margin which does not reflect the current coin prices. If you then try to turn around and sell the coins you just bought, they give you LESS THAN HALF of what you originally paid…
ForexBrokerz user, March 10, 2018.
CoinFalcon Mobile App
CoinFalcon offers a mobile app for both Android and iOS devices, allowing users to engage in cryptocurrency trading and manage their portfolios on the go. The mobile app provides a convenient way for users to access the platform’s features.
However, it’s important to stress once more that the platform is unregulated and thus risky. As the traders mentioned, it often malfunctions and freezes in critical moments, which is why you should avoid trading on the CoinFalcon exchange or any other unregulated platform like FXFair.
Having withdrawal issues with CoinFalcon? We can help you recover your funds.
CoinFalcon Trading Instruments
CoinFalcon offers a diverse range of tradeable cryptocurrencies so here is a general overview of the tokens that you can trade on the company’s platform:
- BTC;
- ETH;
- LTC;
- XPR;
- USDT;
- ADA;
- TRX;
- BCH; etc.
CoinFalcon Fees
CoinFalcon charges trading fees for executing trades on its platform. The trading fees start from 0.25% and can vary based on factors such as the 30-day trading volume, the specific cryptocurrency being traded, and the chosen payment method.
CoinFalcon’s fee structure is designed to reward active traders with lower fees as they increase their trading volumes, which can be an incentive for traders who engage in high-volume trading.
Another thing we’d like to mention is that CoinFalcon has a pretty low 24h trading volume – 893 USD, which is insignificant compared to other renowned crypto exchanges. It seems that not a lot of people put their trust in CoinFalcon.
Referral Program
CoinFalcon offers a referral program that allows users to earn bonuses by referring new traders to the platform. According to the website, the commission from the CoinFalcon referral program will be set at 5 EUR for the trader and 5 EUR for his/her referral.
The commission of the referral program will be adjusted after a certain time period. All referral commissions you receive will be instantly credited to the trader’s CoinFalcon account when he/she referred friends trade 200 EUR.
The referral program is a way for active traders to earn additional income by introducing new users to the CoinFalcon platform. However, it can also be a Ponzi scheme, a fraudulent type of pyramid structure designed to deceive unsuspecting users. We had a similar case in Ixxen so be careful.
CoinFalcon Deposit & Withdrawal Process
When it comes to deposit and withdrawal methods, there are various options to choose from:
- Credit/debit cards (MasterCard, VISA);
- Wire transfers (SEPA);
- Cryptocurrencies.
Although CoinFalcon does not charge deposit fees for cryptocurrency deposits, there might be associated fees for credit/debit card transactions or other payment methods imposed by the respective payment providers.
You should know that funds deposited via MasterCard and Visa credit/debit cards can be refunded. This process is known as a chargeback and can be requested at the issuing bank within 540 days.
Customer Support
CoinFalcon provides customer support services to assist users with their inquiries and issues. Here’s an overview of the customer support options available on the platform:
- FAQ section;
- Live chat;
- Dedicated support team;
- Social Media (Twitter, Instagram, etc.).
While CoinFalcon offers various customer support options, response times and availability may vary. Some even take forever, judging by the complaints we read on the forums.
Key Facts To Consider About CoinFalcon
To sum up, CoinFalcon is a UK-Irish crypto platform that offers cryptocurrency trading services. This platform has been operational since 2017 and the main users are traders from the United States, United Kingdom, India, Germany, and Latvia.
This company is not regulated, which makes the exchange particularly risky. Moreover, the platform has received many negative reviews in the past few months. Do not trade on this exchange!
If you’re a victim of the CoinFalcon scam, please book your free consultation with our team and tell us more about your case. If you need professional assistance in recovering your funds, our team will gladly guide you through the chargeback process or trace your crypto transaction using CipherTrace.
Book your consultation with us today and start the chargeback process.
FAQ Section
What is CoinFalcon?
CoinFalcon is a crypto exchange operating out of the United Kingdom and Ireland.
Is CoinFalcon Scam Or Legit?
CoinFalcon is a scam because the exchange is unregulated. Several traders claim that they have been scammed by CoinFalcon.
Where is CoinFalcon located?
CoinFalcon was founded in the UK in 2017. That entity was dissolved in 2022 but in the meantime, CoinFalcon opened an office in Ireland and now operates via that entity.
Who is the CEO of CoinFalcon?
According to the information from company registers, the CEO of CoinFalcon is Jordan Steeves.
