Tradecoins.com is a peculiar sort of trading destination. At first glance, it looks like a crypto-currency exchange, where indeed, crypto currencies can be traded (by buying and selling them, obviously), but at a closer look, it becomes obvious that that is not the case. What we’re looking at instead, is a rather run-of-the-mill binary option trading destination, with the twist that deposits are made in BTC and the actual investing is done in BTCs as well. Despite that, when trading at this site, you are NOT trading BTC in the classic sense (buying it low and selling it high further down the line, for a profit).
So What’s TradeCoins?
What is also obvious is that Tradecoins.com presents itself as an actual crypto currency exchange – which it is not. Why it does this is anyone’s guess. It could have something to do with the fact that the company behind the operation is based in the US, where binary options are illegal. The reason why Tradecoins.com can exist at all, in its current shape and form, is probably that US financial authorities do not consider Bitcoin an actual currency, which means that the trading at the site does not involve any money. That would also explain why there is no other currency accepted for deposits.
Those who intend to trade at Tradecoins.com, can buy BTC directly from the operator. Cash-outs are done in BTC as well. Obviously, in order to do all this, one needs to have access to a BTC wallet.
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Deposits are only accepted in BTC and BTC can be bought straight from the operator.
Trading Platform
The trading interface is smooth and quite self-explanatory. All traders have to do is to choose the traded asset, set the expiry time and the investment amount and to choose the direction of the trade. According to the Tradecoins website, the maximum payout rate on trades which end up ITM, is 81% (which is not particularly impressive).
TradeCoins Reviews
Bitcointalk.org and reddit do not mention the operation in any shape or form, and that could also be due to the fact that – as said above – the trading platform is not actually virtual-currency trading-focused. While there are indeed several virtual/fiat currency pairs available in the tradable assets section, there are other – more traditional – underlying assets available too, like various fiat currency pairs, indices and commodities like Gold, Oil, Platinum and Silver.
Who is Behind TradeCoins?
The corporate entity behind Tradecoins.com is Titan Marketers Ltd. The address given at the website is 7950 NW 53rd Street, Suite 337, Miami, Florida, 33166.
Contact-wise, there’s a dedicated support email address available: support@tradecoins.com, as well as a couple of phone numbers: +17 863 503 395, +49 3031879671.
The site does not feature a proper “About Us” section, so there is not much background-information available. There are a few not-exactly-trust-inspiring user testimonials featured on the homepage, but they are accompanied by a few quotes from articles published about Tradecoins.com by The Independent and Coindesk.
The domain was reserved way back in 2001, and the identity of the registrant is not available.
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Popularity
Tradecoins.com was not a very popular website and at the time of posting this had an Alexa global rank of 928,407. Most of the visitors of the site are people from the US, Austria, French Polynesia, Poland, Germany and Iran among other countries.
According to SimilarWeb, almost 40% of all visits to Tradecoins.com arrive via referrals.
TradeCoins Review Conclusion
Tradecoins.com is essentially a binary option trading site, which seems to pose as a virtual currency exchange. Now, we don’t have any evidence that TradeCoins is involved in scamming people, however we do know that binary options trading is risky and there are many fraudulent brokers offering this type of OTC trading platform.
Update (November 21, 2017): We just received evidence that TradeCoins may be a scam! Here’s an email we received from one of our followers:
I am on TradeCoins-CryptoRobo on 17.11.2017 (tradecoins.com). I deposited 1.4985 BTC. I realized that this website was scams when this amount increased very quickly to 2.6937 BTC. I can not get BTC or even less back on what I deposit. I understand later this site is a scams.
For now, we have no other option than to blacklist this site.
Review Verdict: TradeCoins is a SCAM!
Blacklisted Site: TradeCoins.com
If you’re interested in trading, we’d recommend to go with one of our trusted day trading cryptocurrency brokers.
the site is now now down, how can someone track or report them for what they are doing ?
This is their bank account info:
message: 81135461
Receiver
REVOLUT LTD
IBAN
GB98 LOYD 3080 1286 5682 90
BIC
LOYDGB2L
Receiver Address
Revolut LTD, Level39, 1 Canada
Square, London
Bank
Lloyds Bank
Tradecoins is a total scam, they take your money and when you want to withdraw they never complete the process. Total theft
Agree! Tradecoins is a SCAM !!! You can not withdrawal your coin ! You can say Bye bye to your coin!
These guys are confirmed scammers bitcoin.school/market-miner-io/. Let me know if we have learned more about identifying crypto scams and make more contributions to the Crypto Scam rules on the website: bitcoin.school/learn/crypto-scam/
Wish I did more research on this company. I deposited the minimum .065BTC with intent to make a larger deposit once I tested the site and was able to withdraw. Only problem is once you try to withdraw be prepared for email after email from them telling you reasons why you can’t. They are all BS reasons and it was easy to tell right away that they have no intention of processing my withdrawal. They only got the minimum out of me but please everyone STAY away from these scammers.
OK, So here is the information that I have been able to gather about these scammers. They are exact same company as these other verified scam sites like OlimpFinance, CryptoRobo and CryptoSoft….and I’m sure that there are many more.
-The company is also known as CASSIUS SERVICES LTD. and has been called NORTHWESTERN MANAGEMENT SERVICES LIMITED
Here are the key names that I have found that seem to be behind these scams.
-Bartosz Maciej Buczynski
Director • Polish • Poland • Born in Jul 1990
-Piotr Jozef Szul
Director • Polish • Cyprus • Born in Nov 1987
-Jean-Christophe Amarc Payet
Director • Citizen Of Seychelles • Seychelles • Born in Aug 1994
-Vanessa Marie-Antoine Boulle / Vanessa Marie-Antoine Payet (I assume that Venessa and Jean-Christophe got married at some point when they weren’t busy stealing money)
Director • Citizen Of Seychelles • Seychelles • Born in May 1981
Key Address:
MR BARTOSZ MACIEJ BUCZYNSKI
40-014 UL STANISTAWA 6/2, KATOWICE
Nationality: POLAND
Country: POLAND
Post town: KATOWICE
Postcode: 40-014
***All the other addresses like their London and Miami addresses just seem to be just fronts/ “virtual offices” like Regus Offices
I seem to think that these guys are really in Poland but I know that Scott above said that his lawyers think that they are based in Israel. Scott do you have an Israel address?
My Lawyer will not give me their names or location. They don’t want me to go POSTAL on them.
So is this how it normally goes … these as hats just get away with everything?
I just got a call from them, They told me that your funds are locked up until you have traded 40x of your original deposit. what is you current total trade volume.
I Already traded 40x and still they can’t release my BTC , they’re just creating excuses to u!!
Next they will tell you we only send money to the MOON!!! So you will have to go get your money there.
Scott, did they give you a “Bonus” and if so did you trade 40X the bonus amount of the “Bonus”? I never asked for my “bonus” but they won’t remove it and by the time I would trade 40X that amount, I’m sure my account will be drained. Seems like that’s their strategy.
No Bonus, I know better than that. The 2.11 bitcoin I have in there is all me.
They mean that you have to put in trades worth 40 times the amount of the bonus that they gave you. So for example, say that they gave you a 1 Bitcoin “bonus” then you will have to do trades that would be equal to 40 Bitcoins
this sucks i was going to use the market miner system starting on monday, i have been in a demo account all day and i have make over 500 today.if this isn’t legit my plan is over before it starts.
you’re lucky you did not invest in yet, myself i did invest $1000, now i cant get hold of them.
Hi Pauline, What’s your email? I would like to talk to you about this further.
Hi Brandon, My email is bettykeza@yahoo.ca
This could well be an offshoot – you can’t retrieve your “profits” till after 6 weeks of joining:
marketminer.io
These are a group of thieves do not give them your money they will not return it and not explanation
This website is a thief.
I deposited 1.4985 BTC and now they do not give back.
The date I deposited BTC is 17.11.2017.
I had a withdrawal request on the same day BTC (17.11.2017) I deposited with a momentary mistake.
And they still do not withdrawal.
I can send screenshots and documents to anyone interested in this topic.
This is clearly vile.
AlpT.
Were you ever able to get your BTC back? Please let me know.
Thanks,
No they haven’t given me my BTC, I have tried to contact them but they don’t reply to my emails, yet they used to reply immediately before I deposited!!!
Have you called them? +44 20 3936 3194
100’s of times
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>These people are thief\’s, you need to get the word out.
DON NOT SEND ANY CRYPTOS/FUNDS to this scamers
I have proof that TradeCoins.com Is not in Africa or Miami like their website states. I have been trying for over 2 months to get my original investment back from them. I have 2.11 Bitcoins in my account. I invested 1.5 Bitcoins. TradeCoins.com is part of OlimpFinance & is located in Israel. I have Hired Birman Law in Israel to sue Olimp Finance to get back my Investment from them. Olimp & TradeCoins.com are in the same building & have the same employees running both Scam operations. If you call either company the same guy answers the phone. Olimp has already been busted & does not do anymore business in the US. Getting money back from TradeCoins.com. is impossible unless they want to because you cannot prove that you sent them BitCoin as a deposit. So figure that one out. These people are thief\’s, you need to get the word out. Feel free to call me at 714-742-2821 if you want more info.
Hi Scott, can you give me your email? I was about to invest in this platform when I started to investigate & I found this post. I would like read you.
gofastscottb@aol.com
Hi Albert,
I got trapped with these guys, i have invested my money on tradecoins through market miner and now i cant withdraw, were you able to withdraw your money?
Did you ever get your BTC back?
No, I did not
Have you called them? +44 20 3936 3194