Score
COINEXX
Comoros|5-10 years| https://coinexx.com/
Website
Rating Index
MT4/5 Identification
MT4/5
Full License
Coinexx-Demo
Influence
B
Influence index NO.1
United States 5.81MT4/5 Identification
MT4/5 Identification
Full License
United KingdomInfluence
Influence
B
Influence index NO.1
United States 5.81Contact
Licenses
No valid regulatory information, please be aware of the risk!
Single Core
1G
40G
1M*ADSL
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
Basic information
Comoros
5-10 years Suspicious Regulatory License MT4 Full License MT5 Full License High potential riskAccount Information
Formal full license MT4/5 traders will have sound system services and follow-up technical support. Generally, their business and technology are relatively mature and their risk control capabilities are strong
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Sources
Language
Mkt. Analysis
Creatives
WikiResearchWebsite
Most visited countries/areas
Australia
India
coinexxltd.com
Server Location
United States
Website Domain Name
coinexxltd.com
Server IP
162.241.253.126
-
coinexx.com
Server Location
United States
Most visited countries/areas
Website Domain Name
coinexx.com
Website
WHOIS.FASTDOMAIN.COM
Company
FASTDOMAIN, INC.
Domain Effective Date
2016-12-24
Server IP
104.18.67.27
Company Summary
| Registered in | United Kingdom |
| Regulated by | No effective regulation at this time |
| Year(s) of establishment | 2-5 years |
| Trading instruments | Forex, Commodities, Indices and Cryptos. |
| Minimum Initial Deposit | 0.001 BTC |
| Maximum Leverage | 1:500 |
| Minimum spread | 0.0 pips onwards |
| Trading platform | MT4, MT5 |
| Deposit and withdrawal method | cryptocurrencies |
| Customer Service | Email, phone number, address, social medias |
| Fraud Complaints Exposure | Yes |
It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.
Pros and cons of COINEXX
Pros:
Offers a wide range of trading instruments, including forex, commodities, indices, and cryptocurrencies
Provides negative balance protection to ensure traders do not lose more than their account balance
Offers a 100% deposit bonus for Pro ECN account holders
Provides access to dedicated crypto wallets for secure and convenient deposits and withdrawals
Offers free educational resources such as calculators and a VPS service
Has a presence on social media platforms like Facebook and Twitter for easy communication
Cons:
COINEXX is an unregulated broker, which can be a cause for concern for some traders
Spreads for some instruments, such as EUR/USD, are not very competitive compared to other brokers
Withdrawals are processed manually, which may result in slower processing times compared to automated processes
Limited customer support options, as the company only provides email and social media as means of communication
What type of broker is COINEXX？
| Advantages | Disadvantages |
| COINEXX offers tight spreads and fast execution due to its Market Making model. | As a counterparty to its clients' trades, COINEXX has a potential conflict of interest that may lead to decisions that are not in the best interest of its clients. |
COINEXX is a Market Making (MM) broker, which means that it acts as a counterparty to its clients in trading operations. That is, instead of connecting directly to the market, COINEXX acts as an intermediary and takes the opposite position to its clients. As such, it can offer faster order execution speed, tighter spreads and greater flexibility in terms of the leverage offered. However, this also means that COINEXX has a certain conflict of interest with their clients, as their profits come from the difference between the bid and ask price of assets, which could lead to them making decisions that are not necessarily in the best interests of their clients. It is important for traders to be aware of this dynamic when trading with COINEXX or any other MM broker.
General information and regulation of COINEXX
Coinexx is an online brokerage firm that offers trading services in a wide range of financial instruments, including forex, commodities, indices, and cryptocurrencies. It was established in 2018 and is headquartered in the United Kingdom, with a physical office in Dubai, UAE. The company offers its clients a variety of account types, competitive spreads, and high leverage up to 1:500. Coinexx provides access to trading platforms such as MT4 and MT5 and offers educational resources such as calculators and free VPS. The company accepts deposits in various cryptocurrencies and provides a secure crypto wallet for its clients.
In the following article, we will analyze the characteristics of this broker in all its dimensions, providing you with easy and well-organized information. If you are interested, read on.
Market instruments
| Advantages | Disadvantages |
| Wide range of currency pairs, commodities, indices and cryptocurrencies | Company is unregulated |
| Negative balance protection offered | |
| Trading accounts denominated in BTC, ETH and USD |
COINEXX offers a diverse range of trading instruments to its clients, including more than 60 currency pairs, various commodities such as gold, silver, crude oil, and natural gas, global indices, and popular cryptocurrencies like Bitcoin, Ethereum, and other altcoins. Clients can also choose to have their trading accounts denominated in BTC, ETH, or USD. One advantage of trading with COINEXX is the negative balance protection it offers, ensuring clients cannot lose more than their account balance. However, a major disadvantage of trading with COINEXX is that the company is unregulated, which could raise concerns about the safety and security of clients' funds.
Spreads and commissions for trading with COINEXX
| Advantages | Disadvantages |
| Commissions are low at $2 per lot | The spreads are not competitive with starting spreads at 10.5 pips for major currency pairs |
| No hidden fees or charges | High swap rates |
| ECN account spreads start from 0.0 pips | Some account types require a high minimum deposit |
| No deposit fees | Unregulated broker, which may lead to potential risks |
| Limited payment options for deposit and withdrawal |
In summary, while COINEXX offers low commissions and transparency in their fees, the spreads for major currency pairs are not competitive and may not be attractive to traders. Additionally, the high swap rates and limited payment options may also be a disadvantage for some traders. It is also important to note that COINEXX is an unregulated broker, which may pose potential risks for traders.
Trading accounts available in COINEXX
| Advantages | Disadvantages |
| Low Spreads from 0.0 pips | Unregulated broker |
| Allows all trading styles | Limited base currencies |
| High leverage up to 500x | |
| Large maximum trade size of 100 lots | |
| Accepts BTC, BCC, LTC, ETH & USD | |
| Offers 100% deposit bonus |
Coinexx offers a single account type, the Pro ECN account, which offers low spreads starting from 0.0 pips for forex, commodities, indices and cryptos, and high leverage of up to 500x. Traders can use any trading style they prefer, and the account accepts BTC, BCC, LTC, ETH & USD. The account also offers a large maximum trade size of 100 lots and a 100% deposit bonus. However, Coinexx is an unregulated broker, which could be a disadvantage for some traders.
Trading platform(s) that COINEXX offers
| Advantages | Disadvantages |
| Widely-used and popular trading platforms | Limited customization options |
| Available on desktop and mobile devices | Limited charting capabilities |
| User-friendly interface | Limited automation capabilities |
| Access to a wide range of trading tools and indicators | Limited risk management tools |
| Ability to use Expert Advisors for automated trading | Limited backtesting capabilities |
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are both popular trading platforms widely used by forex brokers. They are available on desktop and mobile devices, and provide a user-friendly interface for traders. The platforms offer a wide range of trading tools and indicators, as well as the ability to use Expert Advisors for automated trading. However, the platforms have limited customization and charting capabilities, as well as limited automation and risk management tools. Additionally, backtesting capabilities are also limited on both platforms. Overall, MT4 and MT5 are reliable and popular platforms for traders who prioritize ease of use and accessibility.
Maximum leverage of COINEXX
| Advantages | Disadvantages |
| Allows for high trading volumes | High leverage increases risk and potential for significant losses |
| Potential for higher profits | Inexperienced traders may not fully understand the risks associated with high leverage |
| Provides flexibility for traders | Regulatory bodies may impose restrictions on maximum leverage offered by brokers |
| Can be useful for experienced traders with a well-planned strategy | Excessive leverage can lead to margin calls and forced liquidation of positions. |
COINEXX offers a maximum leverage of up to 1:500, which is quite high and allows for traders to potentially achieve high profits from their trades. However, high leverage also increases the risk of significant losses, and inexperienced traders may not fully understand the risks associated with trading on high leverage. Additionally, regulatory bodies may impose restrictions on the maximum leverage offered by brokers. For experienced traders with a well-planned strategy, high leverage can be a useful tool for trading, but excessive leverage can lead to margin calls and forced liquidation of positions.
Deposit and Withdrawal: methods and fees
| Advantages | Disadvantages |
| Dedicated crypto wallets | No automated or API withdrawals |
| Access to various cryptocurrencies | Withdrawals are processed manually |
| Secure with multiple layers of authentication | Withdrawals may take longer due to manual processing |
| Direct transfer to trading accounts | Limited payment options for non-crypto deposits |
| Withdrawals processed within stipulated timeframe |
Coinexx offers its clients the convenience of funding their trading account with major cryptocurrencies and access to dedicated crypto wallets. Clients can transfer funds directly from these wallets to their trading accounts or any external crypto wallets. The crypto wallets are secure and use multiple layers of authentication to enhance security. Withdrawals are also processed within the stipulated timeframe. However, withdrawals are reviewed and processed manually to avoid any unauthorized activities, which may result in longer processing times. Additionally, there are limited payment options for non-crypto deposits.
Educational resources in COINEXX
| Advantages | Disadvantages |
| Free educational resources | Limited selection of educational materials |
| Variety of calculators | No dedicated educational section on the website |
| Free VPS hosting for eligible traders | Limited interactivity in educational resources |
COINEXX offers its clients a variety of educational resources, including a range of calculators and a free VPS for eligible traders. These tools can be helpful in trading and managing risk. However, the selection of educational materials is limited, and there is no dedicated educational section on the website. Additionally, the educational resources may not be as interactive as some traders may prefer. Despite this, the calculators and free VPS are valuable resources for traders looking to improve their trading strategies and manage their accounts effectively.
Customer service of COINEXX
| Advantages | Disadvantages |
| 24/7 customer support available via phone and email | No live chat support option |
| Presence on social media platforms for quick communication and updates | Limited physical office locations |
| Two email addresses for different queries | No information provided about the team or management on the website |
COINEXX provides customer support through phone and email 24/7. The company has two email addresses - support@coinexx.com and contactus@coinexx.com for different queries. In addition to this, COINEXX also has a presence on social media platforms like Facebook and Twitter to keep its clients updated and provide a quick means of communication. However, the broker does not offer a live chat support option, and there is limited information about the team or management on the website. The broker's registered office address is in North Harrow, England, and the physical office is located in Dubai, UAE, at Al Karama.
Conclusion
In conclusion, COINEXX is a global online forex broker that offers its clients access to a wide range of financial instruments, including forex, commodities, indices, and cryptocurrencies. With its competitive trading conditions, advanced trading platforms, and reliable customer support, COINEXX has become a popular choice for traders of all levels. The company's commitment to security and transparency, as well as its focus on education and innovation, make it a forward-thinking broker in the industry. While there are some limitations to consider, such as the limited regulation and high spreads on certain instruments, overall, COINEXX offers a compelling trading experience for those looking to access the global financial markets.
Frequently asked questions about COINEXX
Question: What is Coinexx？
Answer: Coinexx is a forex and cryptocurrency broker that provides trading services to clients all over the world. It offers a variety of trading instruments, including forex, commodities, indices, and cryptocurrencies, with low spreads, high leverage, and negative balance protection.
Question: Is Coinexx a regulated broker？
Answer: No, Coinexx is not a regulated broker.
Question: What account types does Coinexx offer？
Answer: Coinexx offers one type of accounts: Pro ECN account.
Question: What payment methods does Coinexx accept？
Answer: Coinexx accepts deposits and withdrawals in cryptocurrencies such as Bitcoin, Litecoin, and Ethereum.
Question: What trading platforms does Coinexx offer？
Answer: Coinexx offers two trading platforms, MetaTrader 4 (MT4) and MetaTrader 5 (MT5), which are popular among traders worldwide.
Keywords
- 5-10 years
- Suspicious Regulatory License
- MT4 Full License
- MT5 Full License
- High potential risk
News
Exposure Review: How Risky Is Trading with COINEXX Broker?
Explore the perils of investing with unregistered brokers like COINEXX. Prioritize your financial security by selecting trusted brokers. Stay vigilant to safeguard your investments.
2024-02-14 10:09
News WikiFX Review: Is COINEXX trustworthy?
What does COINEXX look like? Is COINEXX legal in your country? WikiFX made a comprehension review on this broker to help you better understand the truth, we will analyse the reliability of this broker from specific information, regulation, exposure and etc. And you should never miss it.
2022-04-22 15:11
News WikiFX report: Coinexx News
Coinexx clearly did none of the above, and could not even be considered a broker, but rather a foreign exchange market con. If Coinexx offers higher leverage than this, it's a red flag that it could be a scam. Coinexx is more likely to be a fraud if it requires a higher-than-average quantity. A legitimate broker will usually ask around $5 to $10 in exchange for their services.
2022-04-13 14:18
News Trading on Coinexx Platform, a Review
Blockchain technology has immense potential, not because it fuels cryptocurrencies but because it has the ability to remove friction, streamline and speed up processes. The technology’s first use case, Bitcoin outgrew its original premises and opened avenues for many more potential use cases. Thus, Coinexx was born with the belief that integrating blockchain with forex can redefine the way people invest and trade.
2022-02-14 14:14
News Coinexx Review – 5 things you should know about coinexx.com
Our first impression from Coinexx is that this company is not set for newbies and amateurs in the forex trade – high leverage, fast trading system, cryptocurrency as payment method – a lethal combination for the new and inexperienced trader. Trading via the electronic communication network (ECN) where the best available buy/sell bids from various brokers are automatically matched and orders executed, it’s like riding a rollercoaster – exhilarating and dangerous.
2022-02-14 13:59
Review 17
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ming6218
Canada
I have deposited more than 60,000 US dollars on the Coinmte platform. At first, I was able to withdraw small amounts of US dollars. With the guidance of a so-called friend I met online, I earned more than 60,000 US dollars. However, when I tried to withdraw a portion of the US dollars, it was unsuccessful and my account was frozen. The platform's customer service told me that my account, along with 28 other accounts, is suspected of insider trading. I asked a friend online about this, and she said that she had to pay a deposit of 6 million US dollars for her account with 21 million US dollars, and she even showed me a screenshot. The US Futures Association requires a deposit of 30 US dollars for review before unlocking the account. After I paid 29,635 US dollars, the platform said that the US Futures Association required an additional fine of 36,735 US dollars before unlocking the account. At this point, I felt that I had encountered a scam from a fraudulent platform. The customer service representative told me that if I don't pay the fine by October 15th, my account will be permanently frozen. Right now, I am unable to withdraw more than 90,000 US dollars.
Exposure
10-12
FX1626030110
Venezuela
I made my investment and then they told me that I had to invest more to be able to withdraw and well I didn't have anymore and for the first investment I borrowed money. I still have access to the platform and I tried to withdraw my money and it tells me that it is yet to be verified.
Exposure
04-04
ryo048
Japan
Malicious Withdrawal Denials by Coinexx This is a report of improper falsification of transaction records, improper swap collection, withdrawal denial, profit cancellation, etc. [Warning.] Users should withdraw funds and non-users should refrain from opening new accounts. Below is a description of each piece of evidence and contradictory answers from emails and support. The prerequisite is "there are no restrictions on trading strategies" as shown in the image. Is it true? Unjustified reduction of profits and inability to withdraw funds. As far as we can confirm, there were several victims, and the actual number of victims is believed to be even higher. As a response, we reported to MetaQuote about the fraudulent damage caused by the denial of withdrawal. In the past, when we reported other cases of fraudulent withdrawals (GemForex, FXfiar, etc.), MetaTrade's license was revoked, and we are concerned that Coinexx's license may be suspended and its business may be suspended as a result. If the insincerity continues in the future, we believe that the damage report should be spread and the appropriate punishment should be taken. [Wise people who saw this article If you are a user, we recommend that you withdraw your funds. After the license is suspended, new deposits will be cut off and further withdrawal refusals are expected. If you are a new user, we recommend you to use another firm. Spreads (EURUSD0.2~0.6) seem narrow, but slippage (EURUSD1.0~2.0) is terrible and actual trading costs are huge. If you are a victim, please report to Meta Quotes.
Exposure
2023-12-23
ryo048
Japan
Refusal to withdraw principal and profits, falsification of transaction records, unreasonable swap requests.Refusal to withdraw more than 100000USD.I have asked them every day, but they keep repeating that they will withdraw the money, but it has not been processed.The MT4 shows that the withdrawal has been processed, which is a fraudulent act itself.They are falsifying transaction records and reducing profits unfairly.Also, even though negative swap is deducted from the position, they are also unfairly collecting negative swap, which is not in the rules.We have secured screenshots and have proof.Email correspondence can also be made public.
Exposure
2023-12-21
FX2594832620
Nigeria
I trade with coinexx on demo, everything was perfect, as soon as I switched to live, I started getting all kind of slippage, didn’t matter if its market or limit it order slow or fast market, and those crook get me in the worth price possible when I get it or get out with this dishonest people
Exposure
2022-01-11
FX1204247012
South Africa
Spreads from 0.0 pips, minimum deposit from 0.001 BTC, no transfer fees, all lies! They just want you to fall to the prey. They did this to me, keeping asking me to put more and more money, and I met high slippage frequently. Don’t come, guys!
Neutral
2023-02-14
Harley015
Germany
I began using Coinexx based on a friend's recommendation, and I'm generally satisfied with their services. Trading conditions and the platform are commendable, with efficient order execution. Overall, Coinexx meets my expectations and provides a satisfactory trading experience.
Positive
05-19
harley butler
Germany
I believe Coinexx is technically sound, offering good spreads and fast execution. However, they lack features for easy trade analysis and regular market updates. Trading independently is both a blessing and a curse in this regard.
Positive
05-16
Klemens884
Germany
Coinexx has been good to me for over 18 months. They let me trade without interference, ensuring quick profit withdrawals. Their efficiency and ECN trading conditions are my favourite features that make trading with them a easy and it feels rewarding.
Positive
2023-12-10
Alex Maier
Germany
No need to beat around the bush. After two unsatisfactory experiences with different brokers, Coinexx has firmly established itself as the leader in online currency trading. Their remarkable absence of slippage is the reason I remain loyal to them.
Positive
2023-11-06
WarrenP
Canada
I really like that Coinexx doesn't put any trading restrictions on me. It means I can take risks the way I want without feeling limited. What's even better is that they don't dig into my personal details. This makes me feel more at ease because they can't single me out or treat me differently. I've felt like some other brokers were targeting me, but with Coinexx, I don't have that worry. Trading here feels more straightforward and fair.
Positive
2023-10-25
IngoF
Germany
Navigating the Coinexx platform was a breeze. Not too much information and clutter only the necessary information is on their site. I signed up in minutes. They prioritize user privacy and only require a valid email address for registration. While optional, providing additional personal details is up to the user's discretion.
Positive
2023-08-06
Kristofer
France
I switched from using a PAMM account to a MAM account on Coinexxx due to having smaller investors, and my desire to see everyone succeed while also increasing my income. The flexibility of MAM accounts, where I can allocate different lot sizes to each sub-account and make manual adjustments as needed, appealed to me. In contrast, PAMM accounts automatically allocate trades based on percentage allocation, limiting flexibility to adjust individual trades in each sub-account.
Positive
2023-06-19
Holdenkemmer
Italy
I have been trading with Coinexx and I must say, I am impressed with their low spreads and extremely fast withdrawals via Crypto. Coinexx is a legit broker and I think people who say otherwise are probably not good at trading, as I myself struggled in the beginning. In comparison to my previous broker, Coinexx stands out as the only broker I know that offers free withdrawals in BTC. Other brokers I have worked with charge $20 or more for every withdrawal, which can quickly add up.
Positive
2023-05-24
Friedbert
Germany
I'm happy to report that their support has been excellent every time I've needed it. I'd recommend giving Coinexx a try.
Positive
2023-04-05
净心
United Arab Emirates
With only just starting to trade with them for two weeks, they were very prompt in contacting me and answering all my questions about their services. A good start.
Positive
2023-02-28
A瞬间
United Kingdom
I achieved a lot of profits from COINEXX, I'm glad to come across your platform. And I also say thank you for the customer support service. Thank you so much and continue helping me.
Positive
2022-12-11