About us
The brokerage company Cincobits has been providing intermediary services in the financial market since 2018.
Cincobits informs that to ensure effective and safe trading, independent and authoritative regulators, financial centers, and liquidity providers are involved: ASIC (Australian financial regulator), DFSA (Dubai Financial Services Authority), FSCA (Financial Sector Conduct Authority of South Africa), FCA (Financial Conduct Authority of the UK), International investment company Blackrock, INC, Ameriprise Financial, INC.
Where to find us
Cinco Bits informs about the location of the company’s head office at: Agios Chrysostomos Street, 6 1223 Larnaca.
Contacting Cinco Bits support service is possible only by phone or email. Other communication channels are not provided.
Trading conditions
The trading conditions of “Cincobits” involve various financial instruments and access to a functional trading terminal. The broker announces optimal financial instruments for CFD trading in the market of metals, currencies, indices, energy resources, cryptocurrencies, and other segments of the stock market.
Cooperation with CincoBits involves the use of the following types of trading accounts:
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STARTER with a minimum initial capital of $150, financial leverage of 1:100, and Instant Execution orders.
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OPTIMAL. The trading account implies a minimum deposit of $1000, financial leverage of 1:500, Instant Execution orders, trading in cryptocurrency assets and metals, as well as deposit insurance.
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SUPERIOR. Entry threshold from $10,000, leverage 1:500. In addition to standard conditions, account owners have access to deposit protection and hedging, support by company specialists 24/7.
Users of the CincoBits platform have access to a web tool called the trader’s calculator.
Account funding and withdrawal
In the document “Refund Policy and Cancellation of Funds Transfer,” it is noted that replenishment of the trading account is possible only using the payment methods specified on the company’s website. However, the online broker does not inform about the conditions of account replenishment and methods of withdrawing funds openly on the website.
Withdrawal of funds from the account is processed within two business days from the confirmation of the corresponding funds withdrawal request in the “Used Account” section.
The “User Agreement” states that all client funds are held in company accounts, including segregated accounts. The company does not charge a commission for opening and maintaining an account.
According to the company’s terms, the client has the right to withdraw funds only after 20 banking days. When withdrawing funds from the trading account, the client bears the expenses for the transactions.
Conclusion
The brokerage company Cincobits provides only basic information about its activities and cooperation terms. The procedure for registering and opening a trading account is not detailed. Available methods of account replenishment and financial mechanisms for withdrawing funds are absent. Before starting cooperation with Cincobits, it is recommended to gather additional information, review feedback from traders on specialized resources and forums, and verify legal information about the broker.