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

Iselin, New Jersey, USA,
Oct 16, 2020,
Registered user

Excellent Broker Service

Service use: Live

Length of use: 6-12 Months

I have been trading forex from the past 15 years and have tried most of the brokers that are out there.

I have been using Coinexx since January, and I am a quite satisfied client with them.

I started with a small account at Coinexx, was able to increase it 5 times, within 2 months and I have made several deposits and withdrawals with them. I can safely say that they let you grow and withdraw substantial profits without any fuss. This is the key for me, as I have had (and have also heard of others having) bitter experiences at various other brokers - who dont let you make profits and if you get lucky, they dont let you withdraw them easily.

We are a group of traders who follow each other and I always compare my execution versus my fellows, especially with those who trade at other brokers.

In a nutshell - Trades go seamlessly, slippage is minimal even on higher lot sizes, and withdrawals are very smooth.

I would say that they are the best broker service, and while they are unregulated, they are way better than the regulated brokers.
 
London, United Kingdom,
Oct 14, 2020,
Registered user

Coinexx - good experience so far....

Service use: Live

Length of use: 3-6 Months

I am using Coinexx since a year now and I am quite pleased with their service. I am a full time professional trader and initially I had my doubts about choosing an unregulated broker. I have changed 2-3 brokers in the past so I am in a position to compare and form an opinion.
First of all they are very quick and responsive in resolving issues which I appreciate the most about them. I have a dedicated Account Manager who is super helpful and just a phone call away.
I will give you an instance, so I had some issue with a trade and it didn’t seem right. I called my Account Manager and they understood what I was saying. They gave me a REIMBURSEMENT of $200. Isnt that unbelievable? In my 15 years of trading experience, no broker has given me a reimbursement ever.
Withdrawals was the major issue which I faced with my previous broker as they used to take around 2 weeks or maybe more to process my withdrawals when they were more than $7000. But these guys process withdrawals in 24 hours usually and I coudnt have asked for a better offshore broker. Highly recommended. You will not regret using them.
 
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
IL, USA,
Sep 24, 2020,
Registered user

Great all around service

Service use: Live

I am not one to really take the time to give a review but I really thought it was worthy to share with others about my coinexx experience.

I have been trading for 25 years and 3 years in the forex. I have used several brokers until I found coinexx. My experience with coinnexx has been an A+. They have the best best customer service. Not only in trading but in all services. They have the lowest spreads and the lowest commissions I have seen on the forex market. They also give you a variety of ways to make withdrawals. My hope is that they never change and I will be a long customer of coinexx.
 
Hong Kong, Hong Kong,
Sep 24, 2020,
Registered user

You guys rock and deserve good reviews

Service use: Live

Length of use: over 1 Year

This review is not for those who only want regulated brokers. It is for those who are looking for a new offshore broker and are fed up with the services of their present broker.

I have been trading for almost 3 years now, and I was satisfied with my first broker for almost 1 year, hence didn't feel the need to look for another broker. I thought that this is how it is, the services, platform.
But slowly when I started to make profits, that is when I started facing issues. My withdrawals were getting rejected, there was no-one to help me with my issues. Noone would reply on chat, my mails were not being answered. That is when I decided to experiment with different brokers. My first criterion was to look only and only for a regulated broker since I was too fed up with the rejection of my withdrawals. While doing my research, I was referred to Coinexx by a colleague of mine. Initially, I was not inclined towards an offshore broker, but he convinced me to at least give them a try. I tried Coinexx along with other brokers while putting minimum deposit possible. One thing that actually won my heart from the very start is their exceptional Customer Service. I got a dedicated Account Manager and the chat representatives were fast and knowledgeable.
It has been almost 2 years now since I am a client of Coinexx. I like the offers they keep coming out with. I will not say that I am particularly happy with their withdrawal processing time which is very slow, around 24 hours.

Some other issues with Coinexx:
1. Once I changed my phone and it took them 4 days to remove 2FA from my account.
2. Their website bugs me a bit since it is slow at times.

My withdrawals have been rejected twice in the last 2 years but they gave genuine reason for the same and I raised the requests again and they were processed within 24 hours. But at the end of the day, what matters is that you are getting your hard-earned money back which is where Coinexx won my trust.
I wish they would allow crypto trading on weekends. Rest I am one happy Coinexx customer and in no need to change my broker.
 
Bryan Essing,
New York City, USA,
Sep 23, 2020,
Guest

THE BEST FOREX SERVICES

Service use: Live

Length of use: 3-6 Months

I have to say, that I was very skeptical about using another international Forex trading account, but after a week of research, chats, emails, and phone calls, j was convinced that Coinexx would be my broker.
They have exceptional customer service, including live chats, phone calls, and timely email responses. The spreads are good, and they offer a 150% deposit bonus, as long as you use 1:200 leverage. It is extremely helpful.
Samantha Shaw, the managing director, had been so kind as to call me, and put my concerns to rest. I had been scammed by Ming Dao International, as well as my investment partner. He was also scammed by Lonny Exchange. We had solid fears of working with an offshore broker, but Coinexx has proven themselves to be a trustworthy broker.
Fast withdrawals and deposits. I can't say enough.
I definitely recommend Coinexx.
 
Sunyani, Ghana,
Aug 30, 2020,
Registered user

Best Broker So Far

Service use: Live

Length of use: over 1 Year

Coinexx broker is the best broker I have ever used.Everything about them is superb.I would like to recommend this broker to everyone.
 
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
NJ, USA,
Jul 17, 2020,
Registered user

A good trading environment.

Service use: Live

Length of use: 6-12 Months

But not an all Rosy picture.

My journey with Coinexx dates to 12th Sep 2019. I was referred by a friend of mine to them. I tried out their demo account for some time and liked their spreads a lot and I thought of giving their live account a shot. I started with a small amount of $750 in Oct’19 and built it up slowly.

My trades saw some turbulence in Dec’2019 as there was some huge volatility at the time. From January, my account started picking up fast. By mid-Jan my account stood at $3K+ but thanks to Dow and Oil, it reached six figures by the end of Feb. It has been growing since then and has reached 3X now.

One thing I have always liked about Coinexx, is that their customer support is really good. They are very patience and available 24 hours. My rep is always there to assist me and she gives me personal attention. It is good to have a sensible person to talk to me from my broker.

I have never had any MT4 server freezing issues with them either. This has been a big plus for me as I have experience of its suffering with other brokers.

With that all being said, it’s not all been a Rosy picture. There have been instances where my trades have not executed seamlessly. I have got a lot of slippage on some occasions, even at 2 Lot size trades. When I complained about this, they gave me various explanations to which I didn’t agree, but I guess I learned that that I’d have to just live with that!

During last year, they sometimes took up to 4 days to process withdrawals. I used to go to their chat portal and shout at them. And they would just say ‘We will forward this to backend’ and I would think to myself ‘This is some bullpoo’. This coupled with crazy market in Dec was forcing me to dump these guys. But things took U-turn in the beginning of this year for good, as I saw all my withdrawals coming out within 24 hours including weekends, and sometimes in even less than 4 hours. This has cemented my overall trust in them.

Also, just the way somebody else has mentioned here in one of the reviews, once I reached a big six figure account size in Feb, I was doing some analysis on my account on a weekend when I noticed I was being charged more margin on my trades! This completely freaked me out. I wrote to them regarding this and demanded compensation from them.

It turned out that they had reduced my leverage to 200x WITHOUT even telling me, because apparently all big accounts with them needed to have lower leverage. I reached out to my rep for this and she apologised and all, but said that she could not do anything about it!

This is frustrating as you should be clear and upfront with your clients about things. The client should not have to chase you guys for the truth regarding his own account. They said that the system does it automatically!

Their website is also not very detailed to say the least. I have had a few glitches with my dashboard as well because their wheel would just keep spinning forever!! They keep saying that they are working on it.

Well the above issues would have bothered me, if I were not making money or felt they were cheating me. They have been honest and clear in all my conversations with them. When they offer promotions, they also tell the catch but utmost importantly, they have been processing my withdrawals nicely on time.

If you are looking for an unregulated broker, you should give them a try. You will not regret!
 
Reply by Coinexx Support submitted Jul 22, 2020:
Dear CSDhillon,

We are delighted to have your valuable feedback for us and to know that you like our platform and services.

Just to clarify few things, we have investigated the issues that you have raised here and would like to present our view points on them, as mentioned below:-

1.Since you have mostly traded in large volumes (100+ Lot sizes) these trades have experienced slippage. When you place trades of such large lot sizes, there are chances of getting a different aggregated price based on the trading volume available in the market.
In another instance, you had got a slippage of 16 points on your trade - Sell U30 (Dow) 2 Lots, on 2nd July which had got closed at 26101 instead of your assigned TP price of 26085. This trade was executed at the exact same time (15:30 Server time) when very important news data related to US Non-Farm Payrolls as well as the US unemployment were released which had a direct and immediate impact on the volatility of the U30 Index.

2. We sent out three emails to you dated 4th Feb, 6th Feb and 10th Feb in which we mentioned that as your account had reached $350k mark, we had to reduce your account leverage to 200X. We also called you and left voicemails for you on 3rd Feb, 5th Feb, 10th Feb and 11th Feb. But we did not get your response and then we had to finally change your leverage on 13th Feb.

3.The wheel spinning error on your dashboard was resolved on 16th June and we understand it is not an issue you are facing anymore based on your communication with our chat agent. However please let us know if that is not the case.

4. We are glad you noticed that we process withdrawals within 24 hours including weekends. This is because we have made updates to internal security checks in our system and in some cases, we even process withdrawals within 2-4 hours.

We appreciate you taking out time to write a detailed feedback for us. We would be happy to further discuss and address any of your above noted issues with you.

We also thank you for your continued business with us and would incessantly strive to provide you excellent service.

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

Regards
Coinexx Team

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.