Coinexx Review – Is Investing in Coinexx Safe?
About Coinexx
Coinexx (coinexx.com) is a forex and cryptocurrency online broker founded in 2017. The broker is based in Comoros with a physical location in Dubai, UAE. The broker provides trading services for forex, commodities, indices, and cryptocurrencies. Coinexx broker has, however, been confirmed to be unregulated and thus poses a risk for the trader.
Company Name – Coinexx Ltd
Coinexx Website – https://coinexx.com/
Address – 60a Station Road, North Harrow, UNITED KINGDOM, HA2 7SL
Regulatory Warning – Financial Conduct Authority (United Kingdom)
Domain Blacklisted Status – It seems there is no direct mention of this domain being on a blacklist.
Trading Services and Features
Coinexx allows MT4 and MT5 trading platforms with a highly advanced toolset and easy-to-use interface. The broker pays as much high leverage as up to 1:500 and competitive spreads. Deposits and withdrawals are only available through cryptocurrencies, with no additional fees. While these features may appeal to traders, the lack of regulation raises concerns about fund security.
Regulatory Concerns
Despite its claims, Coinexx broker is not authorized by any financial regulator. The Financial Conduct Authority (FCA) in the United Kingdom issued a warning on November 20, 2023, stating that Coinexx was providing financial services in the UK without proper authorization. This means that traders have no legal protection when dealing with this platform.
Customer Complaints
Many users have left negative feedback in their Coinexx broker review, reporting issues such as withdrawal denial and lack of transparency. Complaints include being unable to withdraw funds and allegations of fraudulent activity.
Is Coinexx legit?
Given its lack of regulation and multiple customer complaints, Coinexx (coinexx.com) appears to be a high-risk broker. Is Coinexx regulated? No, it is not. Traders should exercise extreme caution before engaging with Coinexx broker, as their funds may not be safe. Always verify a broker’s regulatory status before investing.
For a secure trading experience, choosing a regulated broker is essential. Coinexx broker regulated status remains nonexistent, making it an unreliable choice for traders.
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Things You Need to Watch For
- Unverified Licenses: Any corporation saying it is registered has to be verifiable through official financial authorities.
- Hidden fees and terms: Most scam websites charge unexpected fees when trying to withdraw.
- Anonymous Operations: No defined company details; ownership is unknown, and offices are unverified.
- Changing Terms: Conditions of withdrawal become too stringent, or new provisions are introduced, after deposits.
How to Stay Safe?
- Research any investment platform thoroughly before depositing funds.
- Check the licensing at the official regulatory website.
- Watch out for websites offering high returns without any risk involved.
- Do not share sensitive personal or banking details with unverified entities.
- Report fraud cases promptly to financial authorities in case the suspect fraud happens.
What to Do If You Suspect a Scam?
Take the following steps if you have been scammed by Coinexx:
- Contact Your Bank or Payment Service Provider: If you used a credit card or any other banking method to pay, then you can make a chargeback at the bank or the service provider.
- Collect Your Evidence: Keep all the records including transaction details, emails, and any form of communication you had with the platform.
- Report the Incident: Contact your country’s financial regulatory department and law enforcement.
- Get Expert Help: Professionals of Scams Report can help trace the stolen funds and further discuss recovery options.
Fill out the form above to connect with experts. Act fast—time matters when recovering funds.
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Note: The information provided in the above Coinexx review is derived from existing web coinexx.com reviews. Please be aware that we cannot be held liable for any legal action taken by Coinexx company. If you have any inquiries or concerns, kindly reach out to us via email at admin@scamsreport.net.
