CoinRilon Review – Everything You Need To Know Before Investing
CoinRilon exchange is operated by CoinRilon Limited, a company allegedly established in the USA. They claim to be authorized by the NFA since 2001. However, their domain exists only since 2023 according to Whois.
After this, we are not surprised that their headquarters address is on the FCA warning list. Even though it’s tied to another scam firm, there must be something. So, let’s dig deeper together in this CoinRilon review.
|Regulated By:||No Regulations|
|Is This Company Safe?||No|
|Have Warnings From:||N/A|
|Registered In:||US (allegedly)|
|Trading Platforms:||Proprietary app|
|Minimum Deposit:||100 GBP|
|Free Demo Account:||Not Available|
|How To Withdraw From This Company?||With a shady address and false statements about regulations, this company shouldn’t be your primary choice. If you have withdrawal problems with them, don’t hesitate to contact us for refund assistance.|
Legal Info: Is CoinRilon Legit Or A Scam?
The first thing you always check about the company is their regulation. Indeed, CoinRilon claims to be regulated by multiple entities, starting with FTA Oklahoma, CySEC, FCA and NFA.
Yet, all these are bogus lies. Besides these, they are not even in the register of other Tier 1 regulators, such as BaFin, ASIC or CFTC.
Who Are CoinRilon’s Clients?
Since 2023 when the website was created, the company’s demography has been quite strange. In fact, they were targeting only rich countries, such as:
- United States
If your country is not on the list, add it in the comments below. Also, share with us if you have some withdrawal problems.
Another warning sign is the coinrilon.com reviews. If you take a look at Reddit, many people complained about its services. Most of those were complaining about the fees required for a withdrawal. Which usually don’t make sense.
Let us know about your experience with this exchange. Also, bear in mind that our refund team can advise you on a chargeback if needed.
CoinRilon Trading Features
Important to realize is that the CoinRilon app doesn’t exist. There’s not even a registration option. That tells you that you can only join through CoinRilon giveaways.
So, with this in mind, you can expect some extraordinary software. Instead, the CoinRilon trading platform is most likely web-based.
Is CoinRilon Legit?
Absolutely not. The company is misleading traders to believe that the company is legit. They have fake addresses and no legitimate licenses. On top of all, very poor contact options. Which are not common for regulated companies.
Available Trading Assets
CoinRilon web info doesn’t reveal much about its assets. They just present the prices of some cryptos. Yet, without an insight into the platform, it’s hard to confirm if that’s true or not. Anyway, some of the presented assets are:
- Stellar and more
One more strange thing about this exchange is the missing account types. Practically they don’t reveal any promotions to its investors. Therefore, it’s not surprising that CoinRilon’s trust rating is so low.
Especially with the CoinRilon domain age of a couple of months. Yet, they claim to have been in the business for 16 years. But also to have $84M in total assets.
Mobile Trading App
CoinRilon broker doesn’t have dedicated iOS or Android apps. For a crypto exchange, that’s a huge downside. Since their main assets are CoinRilon cryptocurrencies, that’s quite disappointing.
To conclude, no. The company is completely non-transparent about its trading software. Yet, they expect you to trust them blindly. Another broker that is using dirty tricks like CoinRilon, you can find in our Crown Capital FX review.
As can be seen, CoinRilon advertises its Academy. Courses start from $399 and give you video tutorials and support from CoinRilon team. Thus, it’s questionable if they will teach you about their needs or your needs in trading.
Anything is possible except withdrawals. CoinRilon investments are based purely on persuasion. With untrusted platforms and shady funding methods, you can only pray to get your money back. But if you send them any money for those withdrawal fees, you can forget about their response in the future.
Another shady thing about this company is its customer service. The only way to get in touch is through the web form. Afterward, you can only hope for their response. Considering bogus lies about regulations, you may wait for the response forever.
Key Information To Consider About CoinRilon?
Primarily, the company is openly lying about regulations. Also, their address is tied to the company on the FCA warning list. That company is not active anymore, but it might be their previous brand. Nevertheless, there are many unclear things about the company. Starting with withdrawal policy and fees. Therefore, should be avoided at all costs.
In case you didn’t, don’t bother. Apply for a withdrawal and if you experience any issues, you can contact our refund team. Ultimately, we can advise you about further steps. Most importantly, our first consultation is free. So, get in touch now.
What is CoinRilon?
CoinRilon is a shady crypto exchange offering unclear investment conditions on an even shadier platform.
Is CoinRilon A Scam?
Absolutely. The company doesn’t have any regulations as they claim. Neither do they have the transparency that regulated companies have.
How long does it take to process my withdrawal in CoinRilon?
Bank Wires: Between 1-3 business days(max). E-Wallets: Within 1 business day. Yet, if you experience issues there, you can apply for a refund with our expert help.
Can I lose my investment with CoinRilon?
As with any other company, whether regulator or unregulated, you can lose money. But with unregulated companies, chances are way higher.