Coinexx review - Offshore MetaTrader broker with crypto deposits evaluated and rated by traders.

UPDATE : I apologize for not updating my review as promised in my original post. It's been three years now and I'm still using Coinexx as a broker (one of a number that I use). I can't thank FPA enough for providing their service for retailers like myself. Having said that, Coinexx has continued to honor their word in fast, no fee deposits, and reliable withdraws without fees as well. Though, when they say it takes up to 48 hours, they mean it (almost to the minute). So if you're look for quick withdraws, Coinexx is not for you *but* they do honor the request. Coinexx is one of those brokers that I trust, but at the same time I feel like they just don't have the initiative to make themselves better. To be more exacting, I find that their demo servers are *not* reliable and go down much more frequently that I like for testing EAs. I have had times where their main webpage was *not* the official webpage as well, as though it was hacked (with an company address in Utah). I have seen some odd slippage in FX minors which make me wonder about liquidity *BUT* since I trade many FX pairs, I've had less spreads on other pairs than their competitors. In the end, the profits average out to excellent. Relegated to the unregulated offshore market, I'm always very suspicious of "things" or "signs" that might be a clue to the future of a broker. Have I had internalized scares with Coinexx? Yes. Do I still recommend them? Absolutely.

Jul 8, 2020 - 5 Stars I started FX trading almost two months ago. Without knowing much about US trade rules, I jumped on board first with a broker that *would* accept those that live in the US. I used that broker's MT4 terminal, and demo traded a bit, both manually and with EA. I came to found out that they unscrupulously set the demo account with 200:1 leverage even though a live account with them could only ever be 50:1! So that was my first experience with a regulated broker, which most other traders always say "never go unregulated." I've learned to find the broker with the best reviews and service and forget about being regulated as they can (and will) still rip you off. My research into a new broker that would allow me to sign up and offer me the FULL experience of FX trading (higher leverage, hedging, no FIFO) began!

There are many unregulated brokers to choose from, and just about everyone has someone saying something negative about them. Coinexx stood out since quite a few reviews stated that they had no problems, but what caught my attention was Coinexx responding to those negative reviews in a very detailed manner. There are bad brokers, and there are bad traders too. Some people just like to complain, and some just think the world revolves around them. For this reason, you'll never find a 5-star broker, no matter how good they are. So I chose Coinexx for my first live account, and here is how it went.

Opening the account was super easy with the usual personal information needed to secure your account. The website is easy to navigate, though there are some rough edges and old data that should be removed (for example, 24/7 support as it's 24/5 in reality). Funding into my first live account was via BTC, which I purchased through Coinbase. I found that funding takes about 15 minutes to get through the blockchain confirmations. My first couple of transfers we very smooth. The ability to transfer money between accounts is effortless, though not without a hitch. Over the past couple of weeks, I have noticed that Coinexx system email servers get bogged down, and receiving one-time-passwords to allow the transfer to take place will take hours. During slow trading hours, emails are received instantly. I have mentioned this, and they said they are looking into it.

I choose to trade with MT4 as it has a more significant number of EA's and been around a long time. Coinexx supports MT5 as well (a big plus), and I would like to switch over one day since MT4 is slower and uses less efficient 32-bit code. I had to make sure to acquire a "beefy" VPS to handle the number of terminals I have open. Having a broker that handles both MT4 and MT5 is a blessing since not all do. I've compared trading pair spends with other brokers, and Coinexx has one of the best. Couple this with their EDN market access with high liquidity and trades happen fast with little surprises in close prices. In my 3+ weeks of live trading, I have not yet had a single problem or question with spreads and commission pricing. Flawless.

Not all is perfect, though, as I had a pretty major incident occur this past Sunday. I was not able to log into the Coinexx portal to move funding around for the start of the trading week. I figured it would have resolved by the afternoon, but it had not. The issue was with their 2FA verification system. Monday morning rolls around, and I start to panic a little bit, but another SUPER feature of Coinexx is their 24/5 live chat support. I've contacted them on many occasions, and they have always been courteous and helpful. I contacted them to let them know I was locked out of my account and needed help ASAP to regain access. It was suggested that 2FA be disabled, but to do that, I would have to supply a lot of documentation (and pictures) for proof of who I am. Now many people would complain of this inconvenience, but in reality, this tells me that they don't play games when it comes to scammers. Anyone could have claimed to have been me to try to social-engineer the system. This type of verification would take time, so in the meantime, an account representative called me ASAP and offered to create another account that could be funded, and monies movies to other accounts. I was shocked to be able to get a hold of a live person that would take care of me this quick! Later in the day, I was able to regain full access to my account via their web portal.

Now the last piece of the puzzle still eludes me, and that is, did I have any problems withdrawing my money? Honestly, I haven't had the opportunity to do that just yet as I was a little down on my luck in my 3rd week of trading and needed to put more in rather than take out. The account representative assured me it wouldn't be a problem since I now submitted all the necessary photos and ID in order to make withdraws. Also, she had mentioned that withdraws are indeed handled/verified manually and that they were now doing them on weekends as well. I will be updating my review once I make my first withdraw to let others know how the process went.

In conclusion, I'm happy so far with my offshore, unregulated broker choice. Coinexx has always been there to help me with their live chats, trading has been flawless, and my chance to have live customer service was a delight. I would recommend to others to give Coinexx a try over the other unregulated choices!

I have been trying to get my deposit from tCoinexx for over a year with no success. They told me I had to receive my money the same way I sent it. However, I sent them the wire instructions from the same bank I sent it from and Coinexx told me that was not sufficient. After going back and forth, they said they could send it via Crypto. That didn't work. I decided to try again and sent in another request. Now I am locked out of my account because of a Google Authenticator that I don't have. DO NOT SEND THEM ANY MONEY!!! YOU WILL NOT GET IT BACK!!!

I have been with coinexx for a couple of years and they used to be a broker I would recommend to everyone.

However, they just started a new policy of manually approving every deposit.

It used to be a deposit would be automatic withiin an hour.

With the new policy, it takes one to three business days (supposedly).

I waited over four business days for a simple small deposit.

I contaced support numerous times, but that did not help. My deposit still was not credited.

Almost every broker in the world can get a deposit credited within hours.

Coinexx can't do it even after four business days. My deposit still is not credited.

Coinexx used to have 24/7 support during the week, now they only work certain hours.

Stay away from coinexx, they are turning into a disaster.

Something strange is going on there, and there appears to be many problems besides
the one I highlighted here.

And I am sad to say it after being with them for so long, but unfortunately, it is the truth.

I've made a BTC deposit to Coinexx over 7hours ago and it's still not in my account. They're telling me it can take up to 48 hours?!?!?! I've never heard anything like this before especially from a forex broker and a bitcoin transaction that now has 43 confirmations. I was told they're waiting for the blockchain. I am new to them and was referred but I'm starting to think this was a mistake.

I am newly acquainted with Coinexx, I have been with this broker for the past 2 months, I have found several things to like about the platform. Here are some of the key features that I appreciate:
1. Only one good account type: Coinexx only has one good account type, which is the Pro ECN account. This makes it simple and straightforward for me to get started and manage my account.
2. Trading conditions: The trading conditions at Coinexx are good, with the leverage set at 1:500 regardless of my account balance. This provides me with ample flexibility and control over my trades.
3. Pure ECN spreads: The pure ECN spreads at Coinexx mean that I am trading directly with banks, which provides me with greater transparency and improved pricing.
4. No requotes: I have not encountered any requotes during times of high volatility, even when the markets are moving quickly. This helps me to execute my trades without any hindrances.
5. Fair margin requirements: The margin requirements at Coinexx are fair to an extent, providing me with a good balance between risk and reward.

Overall, I have been happy with my experience at Coinexx and would recommend the platform to others

To give an update on situation: After all these months Im still unable to recover the money Coinexx stole from me. I received a phone call from them where I was offered 2k in order to remove my FPA post. Of course I didn't accept this as its a joke compared to the 28k they removed.

Dec 12, 2022 - 1 Star Ive traded with Coinexx for several years. Until this year, everything was fine but when I wanted to withdraw my funds last september ( 27k) , it was denied because my account was suddenly under review . They subsequently removed all my profits (13k) and when I tried to withdraw what was left (14k), they wouldnt process that either. After my last withdrawal attempt, they blocked access completely to my client area. All this time they never gave any explenation why they did these things. It just shows they are completely unethical and because they are unregulated they just do whatever they want with clients funds.

Did a lot of research here before I chose this broker. Apparently they have gone rogue because they are not processing my first and only (small) withdrawal. Stay away. First they hit me with a "Denied - Raise in BTC" message. Like, WTF? I sent the withdrawal again a few days later. No response. No response to emails either.

Just so you guys know I am not paid for this. this is strictly from my personal experience and I'm going to be straight up and unbiased. coinexx has proven themselves to me ! last week on Thursday 02-16-2022 I had made a withdrawal request . I didn't realize they do not do it automatic and you have to wait up to 48 hours unlike like most brokers (THATS MY FAULT FOR NOT READING LMAO LOL ) and so I got frustrated and had to wait until Monday. Monday January 20,2022 I got an alert that it got denied because they had issues with the blockchain for ERC-20...I found it at first odd and got nervous that I was being robbed at first lol so then they ask me to request it in bitcoin and so the wait proceeds...me thinking I'm gonna loose all my money I got nervous. next day 02-21-2022 I received my withdrawal !! everything I made was sent to the correct btc address... They were very helpful even though I was acting out of frustration. Guys y'all can trust them they are legit and official !! I will be bringing more people to them. Thank you coinexx!!! only thing I would suggest is two things . One I believe customers would like if maybe the withdrawal could be a speedier process along with maybe support during the weekends as well? secondly, if at some point you guys would go the "regulated route" Thank you all a bunch!! please never change your business model and always do what's right for the customers!!

I like to stay low-key and I do not want my information being circulated around financial institutions and the Internet and this broker - coinexx - is the place for me because of this

I have been with the broker for a while, I am trading on a live account, and making constant withdrawals./ transactions with them and never had we needed to exchange details.

There are no trading limits and no restrictions, not that I push my account to its limits because I am risk averse but this can be good for a day when I want to shoot for the sky, I know I wont have a roof to stop me.

I recommend coinnex

I had been testing this brokers account on demo for 5 months. I decided to go live to test the spreads on a USDCAD trade on the 19th of Sept. The asset is trading in an uptrend so I thought it is a good opportunity to take a long swing position in the market.

To my luck my order triggered while I was behind my pc at it gave me a good chance to analyze the brokers spreads market movements at entry. As advertised the spreads were about 0.0022 pips on the trade. My order was quite close to where I thought the market would turn from and I did not experience any significant drawdown. Coinnex offers good spreads on most of their pairs but my favourite pairs are USDCAD and USDCHF. I plan on only trading USD crossed pairs on coinnex because they have the tightest spreads. For example USDCAD spreads are 0.00224 & USDJPY spreads are 0.033 pips. Pairs such as EURCHF have widers spreads. I do not have much experience with EURCHF but I can recommend USD cross pairs trading with coinnex as it comes with tight spreads