8CoinMarket Review – A Deceptive Broker?

8 Coin Market (8coinmarket.com) is a Crypto brokerage service.  They are operational for just around 6 months as of November 2018.  Their platform contains a wide range of additional features, such as the educational centre and economic calendar.  

They are unregulated, but that does not mean you should not indulge with them.  If you are on the fence, trying to decide whether or not to trade using this broker, then continue reading our full review.  We have discussed every aspect of this broker, so that you have a clear perspective of what you are signing up for.

Company and Support

Since the inception of the online trading.  There have been numerous scams which has daunted the industry for a long time.  Though central authorities are doing everything they can, it still isn’t completely eradicated, which is why people prefer to trade with regulated brokers only. 

8 Coin Market is registered in Marshall Islands.  The registration number is 92887. Below are the contact details of this brokerage.

Address – Premium Technologies LTD Trust Complex, Ajetake Road, Ajetake Island, Majuro, Marshall Islands MH96960

Email – support@8coinmarket.com, compliance@8coinmarket.com, info@8coinmarket.com

Leverage and Platform

This broker offers a web-based interface, but it would have been nice if they featured MT4.  One thing, you should know before proceeding with them is that, there is no EA (Expert Adviser) available with this broker.  

If you are someone who relies heavily on bot trading, then you will be disappointed.  The charting solution is neat and has all the necessary components. On the other hand, the traders cannot add the custom indicators.  

Any professional traders, who likes to use custom indicators or tools do not have any choice except going for other charting solutions.  They feature social trading networking. However, we do not know exactly how it works.

There isn’t enough information regarding the fee structure either.  They have not stated the exact leverage amount they offer. So, it is better to contact their support team for precise information.

Account Types

There are 6 types of account offered by this platform.  For more features and privileges, traders have to start out with higher deposit.  However, the type of account also depends upon your trading methodology.  

Below we have listed all the features.  Note that some of them might not be available to you, as it depends upon the account you choose.

• No Brokerage Fees
• Interest – 7%
• Risk Management Tools
• Reports and Trading Signals
• Individual Training – Vocational
• Novice and Advanced ebooks Guide
• Financial Manager
• Trading Support – Unlimited
• Newsroom
• Investment Protection Fund
• Deposit Insurance
• Social Trading
• Robotics

Deposit and Withdrawal

The minimum deposit amount is not stated, but we believe it to be around $250.  Payment methods accepted by them are VISA, MasterCard, American Express and Skrill.  Transaction fees may or may not be applicable. Time taken for processing is also unknown.

Domain Whereabouts

The following information regarding this website was gathered from whois.com.

Domain – 8coinmarket.com

Registered On – 02/05/2018

Expires On – 02/05/2019

There is no information about this website on alexa.com.  As a result, we do not know their traffic sources.

8 Coin Market Review Conclusion

There isn’t much testimonials online about this broker.  So, we cannot draw out any firm conclusion yet. Moreover, they are unregulated.  As far as the history of unregulated brokers are considered, it is not worth the risk to trade with them.  

They do offer matching deposit bonus.  Before you accept any of those, make sure that you understand the terms and conditions.  Otherwise, you will face problems in the future.

Do you have any experience with 8 Coin Market?  Feel free to share your opinion by commenting below.