Leverage Risk Calculator
Calculate Your Risk
See how quickly extreme leverage can wipe out your investment. Coinlocally offers 1:1000 leverage, which is 40x more dangerous than regulated exchanges.
Results
With Coinlocally's 1:1000 leverage:
With regulated 1:25 leverage (EU standard):
When you see a crypto exchange promising zero trading fees and 5% APY on your crypto, it’s easy to get excited. Coinlocally makes those claims loud and clear. But behind the flashy banners and app store ads, there’s a darker reality most users don’t see until it’s too late.
What Coinlocally Claims to Offer
Coinlocally says it’s a next-generation crypto platform with spot trading, margin, futures, P2P, and an Earn program. You can trade Bitcoin, Ethereum, and over 300 altcoins. They advertise 24/7 support, cold storage, 2FA, and secure transactions. Their mobile app, updated in October 2025, claims to support 600+ cryptocurrencies and 40+ fiat currencies. The Zero-Fee Trading Campaign, launched in November 2024, removes trading fees on all spot pairs and 10 futures pairs. Their Savings product promises up to 5% APR on 50+ tokens.At first glance, it looks like a dream for traders: no fees, high yields, and a wide selection of coins. But when you dig deeper, the promises start to unravel.
The Big Red Flag: No Regulation
The most critical fact about Coinlocally? It has no valid regulatory license. As confirmed by WikiFX in June 2024 and still true as of November 2025, Coinlocally operates without oversight from any financial authority. Not the SEC. Not the FCA. Not even a minor offshore regulator.This isn’t a small detail. It’s the foundation of every other risk. Without regulation, there’s no legal recourse if things go wrong. No protection for your funds. No audit trail. No accountability. And yet, Coinlocally still markets itself as "secure" and "reliable."
Compare that to Binance, which holds licenses in Dubai, Abu Dhabi, and other jurisdictions. Or Coinbase, which is fully licensed in the U.S. and Europe. Coinlocally doesn’t just lag behind-it’s operating outside the rules entirely.
Extreme Leverage, Extreme Risk
Coinlocally offers up to 1:1000 leverage on futures trading. That means if you deposit $100, you can control $100,000 in trades. Sounds powerful? It’s dangerous.For context, the EU’s MiCA regulations, which took effect in January 2025, cap retail leverage at 1:25. Even most unregulated exchanges cap at 1:100. Coinlocally’s 1:1000 is in a league of its own-and not in a good way. This level of leverage turns small price swings into total account wipeouts. It’s not trading. It’s gambling.
And here’s the kicker: Coinlocally doesn’t warn users about this. No pop-ups. No risk disclosures. Just a slider that goes all the way to 1000x. That’s not transparency. That’s a trap.
App Problems and Missing Features
The Coinlocally app, available on Google Play and the App Store, has become a graveyard of user complaints. As of October 2025, hundreds of reviews describe the same issues:- Trailing stop orders disappeared after an update
- Chart tools and risk/reward calculators were removed
- Order types reduced from six to four
- Font display errors on iOS
- Copy trading doesn’t work
Users report the app feels broken. One reviewer wrote: "After the update, the types of order shrank to 4 types from 6, missing trailing stop for example... Awful mobile app. Couldn’t be worse!" Another said: "They force you to download and register by saying they will give you bonuses and prizes, but there are no bonuses. Just lies."
These aren’t minor bugs. These are core trading tools that were removed without warning. For active traders, this makes the platform unusable.
Customer Support That Doesn’t Show Up
Coinlocally claims to offer 24/7 dedicated support. But user reports tell a different story.On Trustpilot, a user documented a 9-month wait to resolve a simple transaction issue involving 500 XLM. The problem? A missing memo field. On any reputable exchange, this gets fixed in under 24 hours. On Coinlocally? Nine months. No resolution. No apology.
Google Play reviews are full of similar stories: deposits stuck, withdrawals ignored, tickets unanswered. One user wrote: "I must express my strong disappointment... it gives the impression of being a potentially fraudulent application."
With over 1,500 Google Play reviews and a TrustScore of 1.9 (Poor), the pattern is clear: support is either non-existent or deliberately slow.
Savings Program: Too Good to Be True
Coinlocally’s Savings program offers up to 5% APR on 50+ tokens. That sounds better than most banks. But here’s what they don’t tell you:- No FDIC or equivalent insurance
- No proof of reserve audits
- No transparency on how funds are used
Compare that to Coinbase Earn, which offered similar yields in 2025-but with FDIC insurance on fiat balances and verified reserve reports. Coinlocally gives you nothing but a percentage rate and a promise.
Industry analyst Michael Green from Blockworks said in September 2025: "Unregulated exchanges offering 1:1000 leverage with zero fees typically operate on unsustainable business models that often prioritize user acquisition over security."
That’s exactly what Coinlocally is doing. They’re using high yields and zero fees to lure in users, then betting those funds on risky DeFi protocols or lending pools-without telling you. If those bets go bad, your savings vanish.
Trading Volume? We Don’t Talk About It
Binance processed $1.2 trillion in spot trading volume in Q3 2025. Coinbase handles hundreds of billions. Coinlocally? No public numbers. No transparency. No third-party verification.That’s not a sign of being "private" or "exclusive." It’s a sign they have nothing to show. Legitimate exchanges publish volume data because it builds trust. Coinlocally hides it because they can’t prove they’re doing business at scale.
Is Coinlocally a Scam?
It’s not officially labeled a scam by every authority-but it’s on cryptolegal.uk’s list of reported scam companies. Trustpilot ratings are poor. App Store reviews are filled with accusations of theft and deception. WikiFX calls it "High potential risk."And here’s the cold truth: unregulated exchanges with no transparency, no support, and extreme leverage have a 92% attrition rate within 24 months of launch, according to CoinDesk’s Q4 2025 report. Coinlocally launched about 1-2 years ago. We’re already in the danger zone.
Who Should Avoid Coinlocally?
If you fall into any of these categories, stay far away:- You want to keep your crypto safe
- You use stop-losses or advanced trading tools
- You need customer support when things go wrong
- You’re not willing to risk losing everything
- You’re in the EU, UK, Canada, Australia, or the U.S. (they block U.S. users, but that doesn’t make them safe for others)
Even if you’re just looking to hold a few coins and earn a little interest, Coinlocally isn’t worth the risk. The 5% APR isn’t worth losing your entire portfolio.
What to Do Instead
If you want zero fees, try Binance’s fee discount program using BNB. If you want high-yield savings, use Coinbase Earn or Kraken’s staking program-with real insurance and audits. If you want advanced trading tools, use Bybit or OKX, which have regulated versions and functional apps.There are plenty of safe, reliable exchanges that offer the same features without the danger. You don’t need to gamble with your crypto on a platform with no license, no support, and no track record.
Final Verdict
Coinlocally isn’t just risky. It’s a ticking time bomb wrapped in a zero-fee marketing campaign. The lack of regulation, the broken app, the non-existent support, and the extreme leverage aren’t bugs-they’re features of a business model designed to attract users, then take their money.If you’ve already deposited funds, withdraw them now. Don’t wait for an update. Don’t wait for "better support." Don’t wait for the "next feature." The longer you stay, the harder it will be to get out.
There’s no reward worth risking your crypto on Coinlocally. The zero fees? A lure. The 5% APY? A trap. The platform? Not worth your trust.
Is Coinlocally regulated?
No, Coinlocally is not regulated by any financial authority as of November 2025. WikiFX confirmed in June 2024 that the platform has no valid licenses, and no updates since then suggest any change. This means there is no legal protection for your funds if something goes wrong.
Can I trust Coinlocally with my crypto?
Based on user reports, lack of regulation, and broken features, no, you cannot trust Coinlocally. There are no verified audits, no insurance on deposits, and hundreds of reviews describe frozen funds, ignored support tickets, and missing trading tools. The platform’s business model relies on attracting users with high yields and zero fees, then failing to deliver on basic security and functionality.
Why does Coinlocally offer 1:1000 leverage?
High leverage like 1:1000 is used to attract speculative traders who believe they can make quick profits. But in reality, it’s a high-risk tactic that leads to massive losses for most users. Regulated exchanges cap leverage at 1:25 or lower because it’s too dangerous. Coinlocally offers it because they don’t care if you lose money-they profit from volume and user turnover.
Are Coinlocally’s savings accounts safe?
No. While they promise up to 5% APR, there is no insurance, no reserve proof, and no transparency on how your funds are used. Unlike Coinbase Earn, which offers similar yields with FDIC-backed protection on fiat, Coinlocally’s program is entirely opaque. If the platform’s underlying investments fail, your savings disappear with no recourse.
Why do people say Coinlocally is a scam?
People call it a scam because of consistent patterns: forced app downloads with fake bonus promises, unresponsive support, missing features after updates, and users unable to withdraw funds. Trustpilot and Google Play reviews show hundreds of similar complaints. While it may not be a traditional fraud, its operations match the red flags of predatory platforms that disappear after collecting deposits.
What should I use instead of Coinlocally?
For zero fees, use Binance with BNB discounts. For savings, use Coinbase Earn or Kraken staking. For advanced trading, try Bybit or OKX. All of these are regulated, have functional apps, responsive support, and public trading volume. You don’t need to risk your crypto on an unregulated platform with a 92% failure rate within two years.
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