No valid regulatory information
Please be aware of the risk!
No restriction on the broker account. Provide service support by WikiFX
It has been verified that this broker currently has no valid regulatory, please be aware of the risk!
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
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.
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.
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.
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.
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General Information & Regulation
Founded in 2018, Coinexx is based in Kingstown in St. Vincent and the Grenadines. Coinexx is not regulated by any financial service regulator in any country. Most experts and professionals would not trade with an unregulated brokerage as they cannot offer investors the same protections that a regulated broker can.
Coinexx offers investors a small range of trading asset classes, including more than 60 Forex currency pairs, commodities, global indices, and cryptocurrencies.
Minimum deposit requirement by this broker is quite weird, that is 0.001 BTC. Most brokers would directly requires $100-$200 or equivalent amount, while this broker ask traders to fund their accounts through cryptos.
Coinexx offers traders a professional ECN account with a maximum leverage up to 1:500. Leverage magnifies the returns from favorable movements in a currency's exchange rate.It's important that forex traders learn how to manage leverage and employ risk management strategies to mitigate forex losses.
Spreads & Commissions
Coinexx website displays some spreads on major pairs, the spread on EURUSD pair is around 3.5 pips, EURGBP pair around 4. 5 pips, apparent higher than most brokers. Besides, spreads on Pro ECN accounts start from 0.0 pips, with a commission of 2 USD per lot.
Coinexx Broker offers traders the world's most advanced MT5 trading platform. MT5 retains all the positive features of MT4, plus additional features such as faster execution speed (depending on the quality of the connection and the broker). And MT5 desktop version supports automated trading systems and custom technical indicators and also offers mobile applications as well as a web-based interface.
Deposit & Withdrawal
Coinexx supports traders to deposits via wire transfer, Bitcoin, Litecoin, Ethereum, and 25 other cryptocurrencies.
Coinexx has a client support desk that is available 24/7. One of the fastest ways to reach the support team is through the instant web chat. There is also a form titled 'send us a message on the contact us page.
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Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click 'Complaints 'and 'Correction' to inform us. We will check immediately and release the results.
Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.
Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.