Coinexx Review

3.41 · 57 REVIEWS
Updated: Jul 10, 2020 · Coinexx.com  · Is this your company?

Coinexx is a forex broker. Coinexx offers the MetaTrader 4 and 5 forex trading top platform. Coinexx.com offers over 60 forex currency pairs, stock indices, Gold, Silver, bitcoin, and other cryptocurrencies for your personal investment and trading options.

Coinexx
Coinexx has acquired FinproTrading.com.
Coinexx.com is NOT related to CoinEx.com

Coinexx.com is NOT related to Coinexx.org.

The FPA is informed that Coinexx.NET is an impostor site misusing Coinexx.com's logo and even contact information.

Broker Details

Minimum Trade Size: 0.01
Maximum Leverage: 500:1
Minimum to Open Live: $5
Established: 2017
Address: Caravelle House, Manglier Street, Victoria, Mahé, Seychelles
Contact: support@coinexx.com,
Regional offices:
Regulators:
Prohibited countries: Unknown
Trading platforms: MT4, MT5
Web Trading: Yes
Mobile Trading: Yes
ECN: Yes
Currencies: (60+)
Cryptocurrencies: (5+) Bitcoin, Litecoin, Ethereum
CFD: (10+) Gold, Silver, Stock Indexes, Oil, Other Commodities
EAs/Robots: Yes
News Spike Trading: Yes
Scalping: Yes
MAM: Yes
PAMM: Yes
Deposit Methods: Bank Wire, Bitcoin, Bitcoin Cash, Ether/Ethereum, Litecoin, Other Crypto Currencies
Withdrawal Methods: Bank Wire, Bitcoin, Bitcoin Cash, Dash, Ether/Ethereum, Litecoin, Other Crypto Currencies

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3.41 · 57 REVIEWS
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Traders Reviews

USA, USA,
Mar 29, 2020,
Registered user

Something is happening

Service use: Live

Length of use: over 1 Year

I have had an account with coinexx and before then was with finpro when coinexx took over with no warning.. thankfully the finpro people stayed long enough to insure the transfer went smoothly.. I’ve noticed however over the year the demeanor of the chat support has changed dramatically, so I’m pretty sure it’s a new team. The spreads the past few weeks has more that doubled.. usually the EURUSD spread was .02-.03 I assumed it was just market volatility. Well I just tried to log in to my account and poof,, the MT4 server is now FX View and mt5 isn’t available anymore.. There was ZERO warning about this.. and I looked up FX View and it looks like a chop shop pop up business.. Also the Operations tab on the coinexx website no longer works.. Obviously I’ll be messaging them to find out more details when they come back from the weekend. Also, another scary point.. I saw a LinkedIn profile for a manager at coinexx located in Nigeria, which is not were they claim to be,, and I didn’t expect them to be in the islands, I expected Middle East or Europe, not Nigeria... So there’s that.. It also explains the “working hours” and server time.. Obviously I’ve personally NEVER had an issue with them.. but this is the second change in 18 months without any warning.. makes me nervous.. VERY nervous.. I just wish they would be more transparent..
 
Reply by Coinexx Support submitted Apr 6, 2020:
Hi fxalchemy,

We believe this review may have been posted by you before you reviewed our email regarding server upgrade that was performed over the weekend of (28th-29th Mar). Also, our Chat support was operational over most of the weekend to support any clients facing login issue due the server updates.

1. MT4/MT5 installation - Kindly note that following the upgradation of our servers, it was communicated to all clients that they should install and use our latest MT4 and MT5 platforms. In case you have not done that, you might be seeing "FX-View" or any other default name as various 3rd parties use Metaquotes services. Also, you can always search and add "Coinexx" to any standard MT4/MT5 platform. However, we would like to clairfy that we do not have any relationship with "FX-View". Operations tab on our Client Portal was not operational for a few hours during the upgrade, however it was made available on Sunday (29-Mar), much before the market opening time.

2. Spread Widening - We're sure you'd be aware that there is a relatively higher volatility in market currently and the spreads have widened across most pairs. However as a pure ECN and trader friendly broker, we are renouned to be having one of the lowest spreads in the industry. As an example, typically our spead on the EURUSD is 0.2 Pips (which is trade executed and not the display only spread).

3. Linkedin profile - We do not have any linkedin profile, however some impersonators had tagged themselves as Coinexx employees. We have contacted Linkedin and we had them remove the malicious Coinexx page. Additionally, we would like to clarify that we do not have any employees/operations/office based in Nigeria.

We always strive to provide excellent customer experience and the best trading conditions to all of our clients.

We hope this response clarifies your doubts. However, if you still have any concerns you can always contact us directly via email or via our 24 X 5 Livechat support at anytime.

Regards
Coinexx Team
Texas, USA,
May 7, 2020,
Registered user

Six Figure Acct Disabled for 2 Weeks and Hacked too! Nightmare Finally Over

Service use: Live

Length of use: 6-12 Months

In the interest of full disclosure and an unbiased stance, I will start by saying that up until the last 30 - 45 days, I have had no issues with Coinexx. Withdrawals were made within 24 - 48 hours. No major issues with latency, liquidity, freezing, etc. That all ended when my accounted exceeded the 6 figure mark.

On or about March 20, 2020 I begin to notice major latency and slippage on both entries and exits. Due to the extreme volatility in the market during March some latency, slippage and spread increases were to be expected, but not to the degree that I experienced. I sent a chat and a support ticket inquiring as it was what I would consider extreme. The latency issues continued for over a week. I created additional support tickets and chat messages concerning the same. The latency continued and the response from Coinexx advised that the issues were due to the extreme volatility in the market.

On March 29th, Coinexx sent an mass email subject "Important: System Security Update" advising customers to reset their password and re-download the MT4 platform. I did as advised, and the issues seemed to be resolved. Very little to no latency or slippage occurred and spreads were normal.

On April 17th, the extreme latency returned along with major pricing issues. I created a support ticket and disputed the following trade which shows a full 10 second delay in the trade closing as well as an ask price that never existed:
2020.04.17 08:32:27.576 : order #13340260 sell 50.00 U30USD at 24070 sl: 0 tp: 0 closed at price 24129 (DISPUTED)
2020.04.17 08:32:17.320 : close order #13340260 sell 50.00 U30USD at 24070 sl: 0 tp: 0 at price 0

On April 20th, there were major liquidity issues. Spreads were in excess of 100 pips for U30USD and pricing off by over 200 points compared to normal market conditions. This pricing and spreads continued for over 2 hours. I sent a message to chat and sent email to Samantha Shaw regarding both issues on the 17th and the 20th. Samantha responded with the following in reference to my issue from the 17th and the pricing issue on the 20th.
Please see my responses to your queries below:-

The Sell Orders are closed at ask price at the time. Please note, the prices that you see on the MT4 charts are the "Bid" prices and not the "Ask" prices. The "Ask" price is always higher than the "Bid" price. The difference between the "Bid" price and the "Ask" price is the Spread. For a Buy order you always get filled at the "Ask" price, i.e. the best price where someone is willing to Sell, and not the "Bid" price i.e. the lowest price where someone is willing to buy, that you see on the MT4 charts.

Trade fulfillment for very large size trade orders may not occur at the exact same price where an order has been placed. This will happen if at the exact same time when a trade order has been placed, the tradable volume on the other side of the trade is not as much as is required to fulfill the requested trade order. This is a market wide phenomenon of trade execution, that we as a broker have no control over.

Further, the issue that you have raised below was because the Liquidity provider from whom we source our price feed for Dow had some connectivity issues today, and it was resolved as soon as it was noticed. As I can see you had some highly profitable trades on Dow, but please let me know if you need any other assistance

Regards
Samantha

I responded to the email advising her that I am aware of how pricing and fulfillment of orders worked. I also asked for documentation of the ask price that closed out the trade I disputed 100 pips higher than what the Ask price was less than 9 milleseconds earlier. I also advised her that I notified chat of the major liquidity and pricing issue 2 hours prior to them "correcting" it.

On April 22nd, my account was disabled. I could not access my back office or my funds to make a withdrawal nor could I trade in my MT4 account. When I contacted chat I was advised that my account was temporarily disabled. I emailed contactus@coinexx.com asking about my account status, I received the following email on April 23rd.

Hi,

Your account has been temporarily disabled as the same is under compliance review and you will not be able to perform any account operations for next few days.

Feel free to contact us if you need further assistance.

Thank you
Coinexx Team

I immediately responded asking why my account was under compliance review and what the compliance review process consisted of. I did not get a response. I sent a chat message daily inquiring about the the status of my account. Chat reps advised me that the concerned party would be contacting me. I also continued to email support and contact us regarding the status of my account to no avail. This continued for a week without any response to my emails. Chat continued to give me the same "someone will be contacting you response"

On April 29th, I received a call from the compliance dept, I was advised that due to the fact that my account had grown exponentially in a very short period of time that my trading activity would need to be reviewed and I would need to submit KYC documentation. I submitted the documentation same day. On May 1st, I was advised that everything was still under review and should be resolved by the Tuesday. I requested to make a 10K withdrawal, which was granted and received same day.

On May 2nd, I noticed an email from Coinexx "One Time Verification Code for Password Reset. Not only did the email come in while I was sleep, but considering my account was disabled, it was impossible for this request to have been made by me. I immediately opened my MT4 to find my account showed as invalid. I attempted to log into the back office and instead of the "temporarily disabled" message I had seen for over a week it now said "invalid username or password" I clicked on the forgot password link. Pop up message said that the email address did not exist in their system. Not only had someone changed the trading account password to only the 6 figure account, but they also changed the email address and password to mycoinexx back office. I immediately sent a chat message and emailed every coinexx email address that I had notifying them of the fraudulent access and unauthorized change to my account. I was later made aware that the fraudster had requested a $50K withdrawal from my account. I sent more emails advising that the withdrawal request was fraudulent and unauthorized.
Early Sunday morning I received an email from Samantha in response to my emails advising that my account had an attempted hack and that they were looking into and would be resolving. By noon, my trading account and back office were back in my name and control, 50K withdrawal request denied and message when attempting to log in was back to the "temporarily disabled".

Compliance called me Monday morning to discuss the "hack attempt". They advised that my account funds were safe and in disabled status. Sam confirmed that the withdrawal attempt was denied. He also advised that my account would be under investigation to determine how unauthorized access was made into my account. I told them it appeared to me to be an inside job. I expressed my frustration and asked when the investigation and compliance review would be complete. A date could not be given since the investigation was currently in progress. Sam advised that I could make another withdrawal. I asked what the max was and he advised $50K. I emailed the withdrawal request to be processed. Withdrawal was processed Tuesday and funded on Thursday.

On Tuesday, I also received a voicemail from compliance advising that my account could be enabled within 24 hours, however they needed to speak to me first. Since I had missed the call, I sent an email and message Wednesday morning requesting a call back. Sam called and advised that my account could be enabled, however due to my trading style and account value a reduction to my max leverage was necessary. It would be reduced from 500:1 to 200:1. If I agreed then my trading privileges would be active within 24 hours. I asked about the hack investigation. He advised it was still in process. My back office was enabled shortly after that conversation. By Thursday morning, 5/7 my trading privileges were also enabled.

My rating is mixed.
As it relates to how customer service and/or management handled the disabling of my account and the first week of the disabled account status, I give ZERO STARS. No customer with any size account should have to wait a week to find out why their account is disabled with no access to their funds and/or trading privileges. The automated message saying the account is disabled and inaccessible for a few days is unacceptable. Some sort of notification on the same day the account is disabled should be sent advising the customer why the account is being disabled, what the customer review process entails and a specific time frame of resolution. Communication is key.

As it relates to how the disabled account was handled once I began speaking with Sam in Compliance and how the "hack attempt" was addressed outside of normal business hours, I give FIVE STARS. The fraudulent changes and withdrawal were nullified quickly. My account was enabled within the original time frame given to me by Sam and trading privileges reinstated per our discussion as well. Verbal communication with Sam and email correspondence with Samantha helped to get both of these situations resolved.
  1 trader has found this review helpful
Reply by Coinexx Support submitted May 12, 2020:
Dear Client,

We are thankful to you for your valuable and very detailed feedback as well as the appreciation of our team with regards to the swift processing your all your withdrawals.

You had made a deposit of $4,400 in February 2020. During March 2020, your account reached 6 figures, which was further doubled by mid-April 2020.

We, in tandem with our LPs, are obligated to perform a Compliance review of accounts making such exponential gains. This review normally gets completed within 48 hours.

However, as explained to you over calls, we were extremely low on staffing in the Compliance department due to the ongoing Covid-19 crisis in the UK. This resulted in a delay to complete the review of your account. The review was completed and your account was released for Trading by Compliance within 8 days.

During this review period, we also processed $60,000 of your withdrawals with in less than 24 hours of your requests. However, in the interim we could only inform you that your account was under review and we would get back to you as there was nothing else we could have informed you while the review was in progress. Once again, we sincerely apologize for this delay.

Since you’ve mostly traded in large volumes (300 Lots trade size), you’d experienced some slippage as large size orders do not always get fulfilled at the prevailing market prices. On 20-Apr-20, we had a temporary price feed issue on Dow30 which was corrected soon after being identified. While you were able to benefit from this price feed issue, as mentioned to you over call, we had already promptly reimbursed any clients who had experienced a loss due to this issue, on the very same day.

Lastly, we would like to clarify that your account was never actually hacked. There was a hacking attempt made over your Coinexx account over the weekend of 2-May, which was fended-off due to our state of the art security defense protocols. Our IT team monitors all account activity, and as you recognized, we promptly and proactively ensured that we had secured your account over the weekend itself.

We strongly recommend you to please enable 2FA (using Google Authenticator) on your Coinexx account and bolster its security. Alternately, you can also always use the Bank wire method instead of using Cryptocurrencies to make deposits/withdrawals.

We at Coinexx strive to provide "highly profit friendly" trading conditions and we always endeavor to be fully transparent and forthcoming in addressing any issues our clients face.

We thank you for your continued business with us.

As always, please feel free to contact us directly via email or via our 24 X 5 Livechat support at any time.

Regards,
Coinexx Team
USA,
Jan 24, 2019,
Registered user

They sent my money, despite my fears.

I just completed a large (for me) transaction with coinexx.com and thought I’d pass along my experience.

About a year ago, I opened an account with Finpro trading. I guess they were based out of the UK. I started with a $3,000 and I never did take any withdrawals from this account. I was fine with them, but since I never made a withdrawal they were still unproven for me. My account steadily increased over time time and by the end of December my account equity was around $6,000. Then, right after Christmas, I got the notification that my account had suddenly been transferred to Coinexx. A real WTF moment, as there was no advance notice that this was going to happen with no options offered.

The other thing that I didn't like, was that all additions and withdrawals would be made in cryptocurrency and I had absolutely no experience with that form of money. Also, they had a continuing problem with their website getting their dashboard working properly, which didn’t seem very professional.

So, even though my account continued to grow there were several things about Coinexx that made me quite nervous. As others have said, the fact there is no address, no country, no phone number, no point of contact other than a chat and an email address, made me quite nervous. I mean, this place could disappear off the face of the Earth and what are you to do? There would be no chance of recourse. So, I decided to get set up to withdraw my funds. As I learned about how to navigate in the Bitcoin world, I first did an initial transaction and pulled $50 out of my Coinexx account, had it delivered to a newly created wallet, then sent it to a currency exchange and finally had a bit of money placed back into my personal checking account to prove I had at least a newbies grasp of the system. So far, so good.

I held on to my account for another week or two then decided it was time to ease my mind, close out, and go somewhere else. So I went to the Coinexx site and made the withdrawal for 7,000 USD to add to my crypto wallet. On the Coinexx site, they say there is a 24 to 48-hour time frame for the transaction to be approved. At the 24-hour mark, I contacted Coinexx via chat just to make sure that everything was in order and there wouldn't be any surprises. They assured me that all was right with the world. So far, so good.

So after about 36 hours passed I was pleased to find the transaction happened and the $7,000 was in my wallet. After the money showed up in my account, it took about seven or eight hours for the pending notice to go away and finally the money is there to do with as I please. So, it all was as it should be, but it was just too much of a risk for me to keep that money in there, with basically an unknown, unknowable, untraceable organization. So, as far as doing what they said they were going to do, I have to give them a thumbs up, they did come through. However, IMHO they need to spend some time establishing themselves as a real organization.

Dec 29, 2018 - No Rating On December 23, 2018 I was flabbergasted to learn that my account with FinPro would be changed to Coinexx. I had been with FinPro for about 10 months and had never made any withdrawals, but things seemed right with them. They did answer questions promptly.

There are two alarming parts to this change. First, there was no advance warning from either FinPro or Coinexx, the move just happened. I think that any upright company would provide plenty of notice to a customer that their firm was being acquired by another and offer the chance to cash out. Second, apparently Coinexx only conducts transactions in Bitcoin and other crypto currencies. This is very distressing to me as I have absolutely no experience with Bitcoin, and I really wasn't interested in participating in it. I simply wanted a broker to accept USD and to pay my withdrawals in USD. At this point, I am undecided about the course to take and I am extremely concerned about the safety of my funds.
 
Sandusky, Oh., USA,
Oct 4, 2019,
Registered user

Coinexx- Wooo, how much slippage ???

Service use: Live

Length of use: 0-3 Months

Coinexx is friendly enough and easy to work with. Just don't trade the news !!!!!
Slippage is the worst of any broker I've ever had. A VPS made no difference. even with my VPS in the same city as their Server, D.C.
  1 trader has found this review helpful
west, United Kingdom,
May 12, 2020,
Registered user

nice crypto options

Service use: Live

Length of use: 6-12 Months

good to be able to deposit low amount and excellent leverage options. great options for manual trades and running an EA on the same account
 
USA, USA,
Jul 15, 2019,
Registered user

Almost a year of automated MT4 trading

Service use: Live

Length of use: 6-12 Months

And this broker far outperforms it's competition for US investors. ECN is second to none, and results for my automated strategy are better than head to head tests against LMFX and TurnkeyFX.
Good liquidity here, and always improving.
4 stars because website is sometimes buggy and un-responsive, and doesn't give much feedback about whether it is hung up or will load eventually.
Great, responsive broker, easy BTC deposits and withdrawals, hopefully here for the long term.
 
texas, USA,
Sep 5, 2019,
Registered user

Great broker with tight spreads

Service use: Live

Length of use: 6-12 Months

One of the few brokers that I feel confident in. Very tight spreads and no crazy wicks that try to take out a SL. Withdrawals can take a up to 3 days to be in your account, however this is states on the website so completely within my bounds.
Mt4/Mt5 platform to use. One of the lowest commissions offered at $2 a lot. Only giving it 4 stars since I wished they had faster withdrawals
 
North Carolina, USA,
Feb 23, 2019,
Registered user

I was client of Finpro Trading and now am with Coinexx. So far I have only one complaint and that is that they do no wire transfers (as Finpro Trading did). They use the dreaded Bitcoin for withdrawals. Coinbase is going to get their commission which is much higher than my previous bank wire fee ($16). Add to that the value of a bitcoin may work either for or against me, I can easily lose a $100 on a $3000 withdrawal. Only made 2 withdrawals so far and both times bitcoin value went against me. I am in US and may look for another broker due to the withdrawal policy of Coinexx.
 
Idaho, USA,
Jun 27, 2019,
Registered user

Funds hacked and stolen

Service use: Live

Length of use: over 1 Year

I hate to post this, because I am so fully committed to using Coinexx.com but just thought I would mention it. My friend has his Coinexx credentials stolen through a Key Logger. Hackers were then able to enter the Coinexx account, determine the balances, and then (somehow) fake email requests for the withdrawals, which were NOT send from my friend's email service (protonmail in Switzerland) . Fortunately, these were only about $100 and another $60 or so... SUBSEQUENTLY, COINEXX HAS ADDED additional security. HOWEVER, they were never up front on the theft, and send us the email messages requesting the EXACT balances to transfer to a BitCoin address from the 2 accounts. COINEXX is, without doubt, and especially for U.S. persons, the finest available offshore brokerage, so I am sad to report this. I will be continuing to use them, and do recommend them to anyone. HOWEVER, if you are using Windows, I highly recommend that you use a product called "Key Scrambler" (I am not affiliated, and this isn't advertising) which thwarts the ability of keyloggers to steal data from within Browser fields by encrypting the entries, etc... quite transparently. IN CONCLUSION: I will continue to use Coinexx, but am very upset that my friend's "lax security" allowed attackers to scrape his login credentials and to steal all of the funds in his accounts at Coinexx. I also believe they have better security now, so I don't see this as a show-stopper for me. hyperscalper
 
Minnesota, USA,
Sep 16, 2019,
Registered user

Good experience for US offshore broker

Service use: Live

Length of use: 6-12 Months

I came across with the Finpro sale. I also was signed up with Tallinex before they kicked US clients. I've been with the BS US brokers as well. Both before and after the Dodd Frank stuff. Anyway, I just closed my account with them. I'm going to go trade E mini's. That being said my experience was quite good with them. Once I got a crypto wallet set up. I got the transfers after a day or two of waiting and they were done at the prevailing market rate (one way I thought they might try to screw me). The spread was super small and all in very reasonable when the comission was added in. I started during the glory days of FX trading and it reminded me of that. I only traded small amounts/lot sizes, but there was no slippage and everything went smooth. Their tech is pretty good too. I just couldn't justify the offshore brokerage now that I can trade E minis. So, the CFTC finally did it, they killed this Forex trader. But if your a US person looking for an offshore broker. I would recommend.
 
Felix,
Kilburn,SA, Australia,
Jul 31, 2018,
Guest

Its such a delight to trade with them

One of the best broker tht i have come across since I started trading. They offer amazing spreads - by far the best i hv traded on. And house an equally amazing support team. Something that isnt expected from a crypto broker. Had absolutely no problem sending in and withdrawal out funds. Like their DIY client area.
 
Nugyen,
Singapore, Singapore,
Nov 14, 2018,
Guest

Best i hv traded with

What a broker! Have been trading with without dramas. Trading conditions are very trader friendly and execution speed never fails you. Though they offer very competitive commissions but i wish they offered rebates for traders like me :p who do quite a num of trades daily

Am a big fan of thier support, they’re pretty precise and spot on with thier replies and nvr have failed to sort whatever issues i hv ever had. When it comes to spreads i agree with most of the reviews here — no match. Withdrawals also come in time overall satisfied and happy so far. Should this change will update here
 
Jane Loveless,
Charing Cross, London, United Kingdom,
May 8, 2019,
Guest

Good Broker - Highly Recommended

I am very pleased with Coinexx and have been trading with them since past 1 year.

Since they take deposits in Cryptos, funds get added to my trading account instantly and there are no limits as to how much I can deposit and trade upon which is quite rare. I was able to make a deposit of £250K in less than a minute.

I have taken 17 withdrawals so far and all were processed within 2-3 days, except once when I got a call from them to verify my identity for a large sum.

Customer service is good, although I don’t have much need for them as I am able to do all my account operations from my backoffice portal.

Spreads are excellent and much better than what I have seen so far elsewhere.

I have experienced some slippage at the time of news hours and large lot sizes, although it was much less than what I have experienced with other brokers.

I wish I had joined them earlier as bottom line is - my very same EA strategies that made me losses with other brokers have turned profitable on my Coinexx MT4 account :)
 
Louisville, KY, USA,
Feb 26, 2019,
Registered user

MY EXPERIENCE WITH COINEXX

I profitably traded for years with FinPro and my account went to Coinexx when they were sold. It took a few days for me to get up to speed with Bitcoins and Coinbase but no real problems. I think Coinexx was originally located in London but went offshore to escape oppressive regulations. My experience with them so far has been excellent. Trade slippage seems excessive but then I must remember that I am a Retail Trader. Money transactions in and out occur as they promise. For US traders going offshore they are a good fit. They have servers in Washington, DC, Amsterdam and London however my VPS always connects to Amsterdam at appx. 9.16 ms. Their Customer Support has been excellent and their Agents knowledgeable. I am a day trading scalper and do not trade Economic Reports. I use their MT4 platform with very few freeze ups.
 
USA,
Dec 21, 2018,
Registered user

I Started using Coinexx a Month ago. So far, GREAT trading conditions near to 0 slippage. Instant deposits. 100% A+ Support. Thus far I have NO complaints. They are the best broker I have used thus far, and hope to continue to use them for many years!
 
Kevin W,
Oakland Ca, USA,
Mar 21, 2019,
Guest

Low spread, high leverage, good profits!

I too have been very pleased with Coinexx. I was with Finpro when they were absorbed by Coinexx and they have continued to treat me well. I can no longer have withdrawals sent to my bank account but the withdrawals are sent a lot faster using BTC, and there is a BTC ATM in my city and soon they will offer traditional cash for BTC at the ATM so it all works out. If you know how to trade then Coinexx is for you.
 
Vladimir,
Czech Republic,
Jan 29, 2019,
Guest

Satisfied

They look like a good company, trading consts are very low, withdrawals smooth, support ready to help. So far Im satisfied with them.
 
Florida, USA,
Jul 8, 2020,
Registered user

Unregulated, but better than many regulated brokers!

Service use: Live

Length of use: 0-3 Months

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!
 
Califonira, USA,
May 13, 2020,
Registered user

Great Experience with Transactions.

Service use: Live

Length of use: 6-12 Months

I have been using Coinexx from over a year ow but what has really impressed me is their spreads, especially in EURUSD and GOLD. I did have some issues between but they were promptly addressed. I Can see that people have had some issues with their spreads but that will be with every broker now and then. I have never had any major problems with them. I wish they could start processing withdrawals over weekends as well. But that's about it.
 
Anthony,
Sydney, Australia,
Jun 21, 2018,
Guest

Superb Broker

IMHO, they are a Superb broker! trading with them without a glitch! If you are a serious trader, spreads and commissions are very competitive and if you are starting small, there are hardly have any fees & you can start with 0.001btc. They are genuinely reliable. I really haven’t found a single issue that I can point out. And if there is any issue, they settle it very fairly. I think that matters the most when choosing a broker. It was easy to open an account with them, trade and then make withdrawals.
 
James,
McPhillips, India,
Dec 13, 2018,
Guest

The Best Forex Broker I have Seen

I have been trading Forex from last 35+ years and I have held accounts with several brokers during my trading life, including various offshore brokers. I must say that I have been quite impressed with Coinexx.

Have been trading with them from last 8 months. Their spreads are really thin, most of my trades execute without any slippage at all and the commission is extremely low.

My scalping EA strategies have shown their best performance with this broker.

Deposits are instant with Cryptos. I have made 7 withdrawals so far, all were processed within 2 days. The Forex world needs more brokers like Coinexx.
 
Sam,
Al Matar, United Arab Emirates,
Apr 1, 2019,
Guest

Excellent broker for forex and cryptos

It is an excellent choice if you are looking for a broker that provides both forex and cryptos with razor thin margin and spreads. They have been trading with them for 6 months now and never had any issues with deposits or withdrawals. Their spread is super thin when compared to the majority of retail brokers out there. Keep the good work going fellas!
 
Rob,
Denpasar, Indonesia,
Feb 20, 2019,
Guest

Trustworthy broker

A broker you can trust. Was with finpro when my account was moved to them. Traded with them for a few days but out of panic requested a withdrawal and received it well in time. But it was only after i moved to another broker i realised its really hard to match the conditions & services finpro now coinexx provides. Trading with them without any dramas
 
John DuPratt,
Dublin, CA, USA,
May 20, 2019,
Guest

I burnt-up around 100K of my family savings over a 2 year period in 2014-16, with various different Forex brokers (both US domestic and offshore).

After a 2 year of trading break, I took an online course to reboot my skills, and then started trading with 20K in June-2018. I consciously decided to choose only offshore brokers as our nasty government's is determined to kill the Retail Forex traders in US with their lopsided regulations.

I opened-up 3 accounts with 3 different brokers and one of them was with this Coinexx. I started my Coinexx account with only 2K initially as they took only Bitcoins, which I wasn’t quite comfortable with using back then.

As mentioned by the others - what I soon realized was that on the same scalping or hedging trades where I would lose money with my other 2 brokers, I would make money with Coinexx broker. Clearly, it was not my trades, but I was just being ripped off, yet again. In fact, my exact same trades when put-up on Coinexx broker's MT4, would outperform.

It was just fair execution and the lower trading costs – i.e. Coinexx's thin spreads and low commissions, and fewer execution slippages. So, in Aug/Sep-18, I moved over my entire portfolio to Coinexx (~17K then) and I started to lever it up big.

In Oct last year, I took a big fat loan out on my mortgage and I put all of that into play over my Coinexx account and it was the best and boldest decision I have ever made.

I have withdrawn over 1 MM from my account and made 23 large withdrawals, and all of them were processed without any botheration, except my identity verification calls.

My RM at Coinexx is Mr. Simon White and I just love the guy for he is always there to take care of my requirements. The system is intuitive so I seldom needed to use their chat support much but they were "Real people", and helpful every time I interacted with them.

I like their back-office web portal a lot, and especially the ability to get an instant matching Bonus on my each and every Deposit.

So, Wify is happy as we have "Zero" debt, pretty decent investments and we move into a bigger place in a better neighbourhood. Thanks to you my good broker - Coinexx, and of course much thanks to my Luck, and some to my Trading skills.
 
ohio, USA,
Jul 5, 2019,
Registered user

Service use: Live

Length of use: 6-12 Months

coinexx pays withdrawals for now any change i will be reporting them here, they have great spreads and very good leverage any change in their behavior i will let forex peace army know. great broker so far
 

Frequently Asked Questions

Is Coinexx regulated?

Coinexx is not regulated by any government or non-government agency.

In other words, there is no designated government or non-government body to supervise the activities of Coinexx or to resolve complaints. .

Is Coinexx a good broker?

Unbiased traders reviews on ForexPeaceArmy is the best way to answer if Coinexx is a good broker. https://www.forexpeacearmy.com/forex-reviews/14988/coinexx-forex-brokers.

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

Additionally, we'd recommend to check recent Coinexx community discussions: https://www.forexpeacearmy.com/community/tags/coinexx/

How do I withdraw money from Coinexx?

To withdraw funds from your trading account select “Request Withdrawal” button on client portal.

Withdrawals are processed within 48 hours of receiving the request.

Where is Coinexx located?

Coinexx is located in Caravelle House, Manglier Street, Victoria, Mahé, Seychelles.