Costin Limited Review – Legitimate or Scam?

Costin Limited Review

Diving into the financial markets is a big decision that can pay off, as long as you know what you are doing. Your experience, skill and luck all matter, but so does the online broker you are using. They play a vital role because they have to provide you the software and other features and tools that can make a big difference. The fact that there are thousands of them should make the process simple, but you have to bear in mind that some of these are scams as well. You need a legitimate broker, but this Costin Limited review helps you understand that fraudulent brokerages know how to fool people.

This is one of the reasons why countless people around the world have fallen victims to this scam. No, not everyone who becomes a victim is naïve, or foolish. These cybercriminals are good at what they do and they know how to create an illusion that can fool even the smartest of people. This means that you have to be very diligent when you start hunting for a brokerage and not settle for anything they say. You need to remain skeptical, until you have diligently verified all the information they present and only then make up your mind.

It may take a little bit more time than you would want to spend on this task, but considering that the outcome gives you a legitimate and reliable platform for online trading, it can definitely be worth it. You will be able to avoid a scam and also find a good brokerage that can help you trade in the long term. One of the names you will find in your search is that of Costin Limited and it claims to be a leading brokerage online that is based in the United Kingdom.

One of its most impressive claims is that it has a license in the United States and Costin Limited also boasts of catering to an expanding audience of retail and institutional clients internationally. Other offerings of the brokerage include no requotes, very low spreads, latest trading technology, transparent services and leverage that goes as high as 1:500. This sounds like a dream come true, but when something sounds too good, it is rarely true. This also applies to Costin Limited because you will discover quickly that it is not what it claims to be. Let’s check out why:

Blacklisted in the UK

The first glaring problem that indicates Costin Limited is a scam is the fact that it has been blacklisted by the regulatory authority of the United Kingdom i.e. the FCA. The Financial Conduct Authority (FCA) is recognized as one of the top regulatory bodies in the world and has issued a warning about the brokerage. This means that it is definitely not based in the UK, as it does not have a license to operate there, and is offering its services illegally to people there, which has gotten it blacklisted.

Anonymous website

Getting blacklisted and that too by one of the world’s most respected regulatory authorities is a big flaw that you will find in Costin Limited, but it is not the only one. If you go through their website thoroughly, you will discover that it appears to be virtually anonymous. You do not want to choose a brokerage you know nothing about, but this is what you will have to do if you decide to go with Costin Limited.

They have only mentioned the company name, which is also Costin Limited, but apart from that, you will not find a corporate address or any such background. There is not even a phone number given on their website. All you discover is an email address and nothing more. They have claimed to have headquarters in the UK, but no address is provided and the FCA warning shows it is lying.

False licensing claim

Another claim that Costin Limited has made in its presentation is that of having a license in the United States. This is quite impressive, as the US is one of the most strictly regulated jurisdictions in the world, so a license there is considered quite valuable. The brokerage has gone as far as providing a license number for the NFA for you to check, which makes their claim seem legitimate.

But, when you check the online register of the National Futures Association (NFA) for Costin Limited, you will not find the company name listed. This means that it is not regulated in the US, as it claims and you can check the register of the Commodity Futures Trading Commission (CFTC) as well and not find it there. It is necessary for a brokerage to be listed with both authorities in order to have a license, which it clearly doesn’t.

No trading software available

You have to have access to a trading software to be able to execute your trades in the market and the online broker you choose is responsible for providing it. Even though Costin Limited claims to offer the MetaTrader5 (MT5) trading software, which is recognized as one of the best ones in the market, you will not find it available anywhere on their website. There does not seem to be any platform available, which is another indication that you are not dealing with a genuine brokerage.

Crypto payments accepted

One of the biggest problems that people come across at Costin Limited is with their payment methods. You obviously want to make your deposits and withdrawals without any hassle, but the problem here is that they only accept one payment option and that is cryptocurrencies. Sure, this sounds like a modern option and very appealing, but there are issues with it.

When you use cryptocurrencies to deposit with Costin Limited, you should remember that there can be no chargeback because these payments are final and irreversible. This means there can be no refunds, as in the case of cards like VISA and MasterCard.

Final Decision

The glaring flaws in Costin Limited make it apparent that it is a scam brokerage and not legitimate in any way.