Coinexx Review

3.534 · 67 REVIEWS
Updated: Oct 23, 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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3.534 · 67 REVIEWS
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Traders Reviews

criyo,
london, United Kingdom,
Sep 28, 2020,
Guest

BIG SCAM

Service use: Live

Length of use: 3-6 Months

You start out with low spread and bonus, then when you have made profit then widen the spread sometime up to 20/22pips in a single trade and then remove bonus.
request for a withdrawal, they said the accounts department is reviewing it (never heard of such before) that same day all my trade was closed even though I hedge everyone of my open trade.
Join them at your own peril. massive scam and idiots they are.
 
Reply by Coinexx Support submitted Oct 7, 2020:
Dear Criyo,

We searched through our records but could not find any client by your name or anyone to whom we have told the things even close to what has been mentioned by you.

We would appreciate if you could directly tell us about the issue faced by you and your Coinexx registered email address or trading account number so we can validate and immediately address it. Please drop us note at contactus@coinexx.com or just reach out over our 24 hour chat support.

We take pride in providing excellent trading conditions and we always endeavour to keep a proactive (and not reactive) approach towards client service.

In case there was any lapse in our service, we would really like to know so that we can address it.

Really look forward to hearing back from you!

Team Coinexx

(Update: 15th Oct 2020) Dear Criyo

We have not heard back from you since the past 1 week. We do not have any client by your name or any records of such conversations being held with any of our clients. Therefore, we believe what you have stated is not a genuine client experience and it is just an attempt to malign our reputation. We strongly condemn such mala fide attempts of spreading false information with the sole purpose to tarnish our brand image.

Regards
Coinexx Team
Tomas Zra,
Iraq, Iraq,
Oct 1, 2018,
Guest

Scammed me i lost 100$

SCAM .... I made a $ 100 deposit and the money did not appear in my account. When I told them they said they did not know where the money went, and then I knew they had no regulation and their office was fictitious! Be careful they stole my 100$
  1 trader has found this review helpful
Reply by Coinexx Support submitted Oct 4, 2018:
Hi Tomas!

There seems to be some confusion and we’d like to clarify that you lost funds after transferring BITCOIN CASH into a BITCOIN WALLET mistakenly. Our chat team explicitly explained you the situation when you approached us on chat on 10th September that it was a mistake from your end.

Due to inherent nature of the crypto transactions, it is client’s responsibility to send funds to a correct wallet address as transactions once processed cannot be reversed. Recovering cryptos crosschain is time consuming and an unsafe process and we only attempt to recover deposits that exceed $5000 in value if mistakenly sent to another network. However, the recovery has its own limitations and each situation is handled differently and the same is conveyed to the client.

We hope this clarifies the situation yet again.

Regards
Coinexx Support
michael,
USA,
Jan 4, 2019,
Guest

I have no skin in this game as all I am trying to do is recover my money that was held by Finprotrading. I will give you my thoughts on this so called acquisition by Coinexx.
1. I would suggest that all go to forexbrokerz.com and read their review about this company. I found it rather enlightening.
2. If you had any dealings with the prior firm you would notice that many of the tools are identical to that prior firm, from all the tools ( margin requirement, swap rates, PnL calculations, ect.) are all the same. This doesn't include the messages that ones receives when logging on, email information and on and on.
3. My conclusion is that Finpro opened up another company called Coinexx.com and either transferred all assets or they were stolen by prior company. I have put in a wire transfer request from finpro and have heard nothing so am now having to chase it down with Coinexx.com.
4. For those who have accounts here I hope I am wrong in my assessment and wish you the best of luck. As one poster mentioned before, " you have a company with no physical address, phone number, not regulated so what can possibly go wrong!
  1 trader has found this review helpful
Reply by Coinexx Support submitted Jan 11, 2019:
Hi Micheal!

Your withdrawal has been processed well within the stipulated time frame and you were informed about the status of your withdrawal the same day. We don't see any reason for you to post a review for us, except an intention to spam our listing like you have been doing on FinPro's listing past two years.

And the website you are referring visitors to isn't even a forum for Fx traders. Its an affiliate's blog who only promotes his brokers and puts down 90% of the other listed on this website.

Please refrain from spamming our listing.

Regards
Coinexx Support
US, USA,
Jan 30, 2019,
Registered user

Worst Broker I've seen in 30 years.

A nice sales pitch. But Sam.. who is the fraud behind the manipulated prices.. a nice show of .2 and .3 with average server response time of 790ms this a fraud of a broker from every angle. DO NOT use them by any means!

Here's the bullet list of bullshit they play.

1. Off market skew by 1/2 pip all the time
2. Slow full 1 second execution time 880 ms at server, and I'm in the same DC 2 data center.
3. Slippage At your own risk.

Do NOT use them!!
  1 trader has found this review helpful
sammy g,
new jersey, USA,
Nov 13, 2019,
Guest

Coinexx are a bunch of theives and a scam

Service use: Live

Length of use: over 1 Year

I signed up for a trading account with finpro/coinexx and was happy with the spreads and commission at 2$ a lot. however once i started making money they switched it to 10$ a lot without my knowledge and continued to charge me the 10$ rate for 2 years effectively stealing over 8k from me. do not deal with these people they are unethical and thieves. look for a more reputable broker. I have the documents showing they overcharged me yet they don't answer emails and when they do they give the run around. THIEVES
  1 trader has found this review helpful
USA,
Dec 26, 2018,
Registered user

NO phone number, No address and unregulated... what could go wrong LOL

My FinPro accounts have been transferred to Coinexx. I will close them now. I can't possibly believe that anyone could ever trade / send money to this company.... they don't list a phone number.... have no address.... and are totally unregulated because they only work in the crypto world. Wow what a perfect scenario for the money to dissappear.
  1 trader has found this review helpful
Missouri, USA,
Jul 27, 2020,
Registered user

Scammers and Liars

Service use: Live

Length of use: over 1 Year

They were ok until l funded my account with $28k then they slipped me up to 10 pips per trade. I was down on my trades and they widened the spread and blew my account. I've seen them do that up to 100 pips to knock you out. I was told it was a glitch and now that very thing has cost me my whole account. It was fine when I was testing them on a very small account but all they did this time is widen the spread and bank my money. They said they don't manipulate but I am not new, over 20 years trading and this is what I get. Most money I have ever lost. STAY FAR AWAY FROM THESE CROOKS
 
Reply by Coinexx Support submitted Jul 30, 2020:
Dear CLIENT FIRST NAME REMOVED,

The 15 trade orders of EURJPY placed by you on various dates between 13th July and 24th July were closed at the time of market opening on 28th July (aggregate volume of more than 100 Lots), as the equity in your account reached almost zero due to the losses in these trades.

As you would be aware, the spreads during the opening and closing hours of the market are usually high because of the low market volume. This is a general phenomenon of the market and being a broker we have no control over it.

Your trades were already in huge losses and as soon as the market price reached a level where the losses on these trades further escalated, the margin call stop-out was auto-triggered on your account in order to avoid your account equity to become negative.

We are sure you would understand that no Tech is 100% issue proof, and even NASA's servers do face issues at times. What best any broker can do is to be fully transparent and forthcoming. If on a very rare occasion, there is a technical issue from our (or our LP) side, due to which a trader incurs any loss, we have always promptly reimbursed the trader for more than such losses. The same happened with you on 2nd July when a few of your trades were impacted due to a momentary price feed issue and we had immediately and voluntarily reimbursed $14,860 into your account. You had appreciated our honesty and we are grateful to you for that.

However, if a trader faces losses due to normal market behavior and unfavorable market prices, we cannot be held responsible for such situations.

Being a pure ECN broker, all trade orders are directly executed in the market and you are given the best fills. We have no visibility or ability to influence or view the client’s trade order flow. All trades flow seamlessly from the client trading terminal directly to the market.

We hope this information clarifies any concerns. We thank you for your continued business with us and we would be very happy to discuss any of the above points with you.

As always, please feel free to contact us directly via email of via our 24X5 Livechat support at any time.

Regards,
Coinexx Team
Utah, USA,
Jul 22, 2020,
Registered user

Coinexx bonus is a lie

Service use: Live

Length of use: 3-6 Months

Coinexx offered a bonus deposit with your initial deposit which went to help you have a larger margin. This is great until they removed it from your account while you are needing it in your margin. The result forced my trade to stop out loosing $1400 and within mins it was up where I knew it would be for a nice gain. I have no idea why they suddenly removed the margin but didn't notice it until it was to late. I just want things to run how they always have been and as expected. I can't deal with things changing in the middle of trading. Its ridiculous.
  1 trader has found this review helpful
Reply by Coinexx Support submitted Jul 27, 2020:
Dear Brad,

Bonus money is offered as an additional free deposit by Coinexx, solely to help increase your margin and profit making capability. All the profits made using the Bonus money can be withdrawn, however, the money itself cannot be withdrawn or lost in trading.

If a client loses all of their deposit money (against which they availed the bonus money), their account gets margined out so that they don't end up losing the bonus money too. At this point, the trading gets disabled and the bonus money gets withdrawn from the trading account so that other clients may be able to use it.

One can always make a fresh deposit and then again instantly avail the free bonus money. The bonus money has to be however requested again for every deposit, as it is an optional benefit for clients and therefore it does not get automatically added.

This information has also been provided on our website here: https://coinexx.com/deposit_bonus and is mentioned in all our emails about the Bonus offer too.

Please see below details of the recent Bonus Addition /Removal from your account:
1) On 14-May, you had availed the bonus money against your deposit.
2) On 20-Jul at 11:07, your account experienced a drawdown. Since you lost all your deposit money, a margin call stop-out was triggered in your account, disallowing it from further trading. After 2.5 hours, i.e. at 13:24, the Bonus money was removed from your account.
3) On 20-Jul at 22:28, you made a new deposit and thereafter visited chat support to get your account re-enabled for trading. At this point, you did not chose to avail the bonus money.
4) On 22-Jul at 02:26 your account experienced a drawdown primarily on the account of an XAUUSD trade, triggering the usual margin call stop-out and closing this trade at -$1450. There was absolutely no role of bonus here.
5) You visited chat support inquiring why the initial deposit bonus money was removed from your account and details were shared with you by chat agent. In lieu of your last deposit, the free bonus money was added into your account. This bonus money is still lying in your account and being used by you.
6) After you left chat support, we had sent you email and also tried calling you a couple of times (left VM) to further explain.

You can always refer to your account's Balance, Credit, Equity and Margin percentage, all of which are updated to reflect the amount of Bonus money present in your account, so that there is no confusion regarding it.

We hope this clarifies. We thank you for your continued business with us and we would be very happy to further discuss any of the above with you.

As always, please feel free to contact us directly via email of via our 24X5 Livechat support at any time.

Regards
Coinexx Team
Alejandro,
Spain, Spain,
May 4, 2020,
Guest

Scammers!

Service use: Live

Length of use: 3-6 Months

Beware! You cant withdraw your funds.
I try to withdraw for 2 weeks without results
Terrible service
 
Reply by Coinexx Support submitted May 8, 2020:
Hi Alejandro,

You raised a total of three withdrawal requests. Two of these were denied as you wanted higher than withdrawable amount, and one was processed within 48 hours.

Your initial 2 requests (raised on 29-Apr & 1-May) were for withdrawal of Bonus money and thus denied. As was already explained to you via email, the deposit match Bonus money is provided by Coinexx only for the purpose of trading and it cannot be withdrawn.

The 3rd withdrawal you requested on 4-May was for correct amount and it was processed on 6-May. The payment can be located over blockchain transaction ID: d5fccf3d796df7b1dd38689149fb8b62093c5efadfd35935822ac115904bedda

And all our withdrawals are processed within 48 hours.
We have already explained to you over emails and chat that Bonus money cant be withdrawn.

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
Jd,
Canada,
Jun 11, 2019,
Guest

Overall satisfactory. Unfortunatley what caused me to submit a lower star was the huge jump in market spreads at close. I do understand it occurs, however xauusd spread at daily close was at 20 pips literally while two other major competitors was only only 2.
  1 trader has found this review helpful

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.