Coinexx Review

3.847 · 100 REVIEWS
Updated: Sep 23, 2021 · 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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3.847 · 100 REVIEWS
Forex Peace Army
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Traders Reviews

Sydney, Australia,
Jul 14, 2021,
Registered user

Leverage and risk management

Service use: Live

Length of use: 3-6 Months

The broker has some stock indices, the major stock indices are available.

The general maximum leverage is 1:500 and it is also flexible. I stopped bothering about leverage so much when my risk management practice improved. I do not overtrade and also try as much as possible not to enter many positions at a time.

The maximum positions I have opened in recent times is 2 positions and I do not do that often. I was not like this when I started trading, I learnt to follow these rules the hard way.
 
Poznań, Poland,
Jul 9, 2021,
Registered user

I like it here

Service use: Live

Length of use: 0-3 Months

The difference between the ask and the bid price is usually very slim, usually around 0.00-0.02 pip for fx pairs. They are tight for cryptocurrencies too. I can place or automate plenty trades at a time without being slow because of the free VPS. Cryptocurrency deposit and withdrawal is a good idea too. It might be a bit stressful for those who do not have cryptos though
 
Iasi, Romania,
Jun 27, 2021,
Registered user

It has good parts, but beware of the bad ones

Service use: Live

Length of use: 6-12 Months

On the plus side:
+++ This broker allows you to trade on MT5 with an account having as base currency BTC or ETH as well as fiat currencies. It is one of the very few to allow such a thing and that was the reason I chose them.
+ It has decent spreads on the major pairs and gold (there is a caveat here, which will be discussed on the minus part)
+ It offers a deposit bonus. This way you get stopped out only when your balance turns negative. If you think this is a bad idea, you can just choose not to activate it.
On the minus side:
- It has quite often a negative slippage (from trader's perspective) even on limit orders and even when the price spikes in opposite direction and you would expect a positive slippage, if any
- It has a high minimum lot size on some instruments, e.g: 1 lot for US30
--- The price is not always aligned with the price of other brokers. Even on EURUSD, the price on coinexx is sometimes different from the price of everyone else with as much as 2 pips. This complicates your calculations when you make the analysis using other data feeds. Moreover, the difference is not constant in time. On gold it's even worse. The difference can go as high as 2 USD, which means 20 pips. For example, on Friday June the 4th, at 09:44:31 UTC+3 I executed through an EA 3 buy trades on gold, both on coinexx and a different broker. On coinexx prices were 1874.34 for first trade, 1834.37 for the second and third. On the other broker, prices were 1872.32 for the first trade, 1872.28 for the second and third. So the price on coinexx was almost 20 pips higher not only relative to the other broker, but also to two more brokers (i checked these two only). On the same day, at 15:29:54 UTC+3, I was stopped out on coinexx at 1867.74, which was the absolute low of that hourly candle, just before a big surge to the upside. Now let's see how the other 3 brokers were doing during this time:
15 o'clock hourly open: coinexx 19 pips higher
coinexx: 1873.11
Broker 1: 1871.21
Broker 2: 1871.26
Broker 3: 1871.25
15 o'clock hourly low: coinexx 10 pips lower
coinexx: 1867.74
Broker 1: 1868.73
Broker 2: 1869.11
Broker 3: 1869.04
15 o'clock hourly close: coinexx 11 pips lower
coinexx: 1883.53
Broker 1: 1884.61
Broker 2: 1884.676
Broker 3: 1884.61
As a conclusion, we can clearly see that coinexx went in a very short period of time from a 20 pip higher price to 10 a pip lower price, when comparing to 3 other brokers. For someone who was long on gold, it's like having a 30 pip extra hidden spread. I had poor risk management and got stopped out, but even if I had won that trade, I still would have won less than on other brokers. People who want to trade there should be aware of that, because this was not an isolated case. I have seen it even on EURUSD, as I mentioned before. I will not make a deposit there again, most probably.
P.S.: I tried at first to post this review as a guest, but It did not appear on the site. That is why the date I am referring to is quite far back in the past. You should be able to check the historic prices pretty easily, though.
 
Forex Peace Army
Review moderation team note
Your original attempt to leave the review was disqualified because it came in through an anonymous proxy.
Reply by Coinexx Support submitted Jul 13, 2021:
Dear Ermoghen,

Your open trades were force closed because of low equity in your account resulting in a margin call. If your account had enough equity, your trades would not have been closed by the system and you might have closed them yourself in Profit. We always advise our clients to maintain sufficient margin in their accounts, so that they can manage all their trades as per their own strategy.


Please note that having high volume and strong relationships with the Liquidity Providers, Coinexx enjoys impeccable depth of market which may not be the case with other brokers. This means that trade execution happens at the prices that are shown, and the slippage is minimal.

Every broker has different set of LPs and hence, at times, prices do vary a little bit. However, you will experience that most of the times, the trade execution at Coinexx will be better than the rest of the brokers. Coinexx carries a reputation for its excellent trade execution and low trading costs.

As always, please reach out to us directly for any further assistance. We are available 24/5.

Regards
Coinexx Team
leiden, Netherlands,
Jun 7, 2021,
Registered user

Flexible leverage and no scam

Service use: Live

Length of use: 0-3 Months

ECN forex trading services with flexible and high leverage. The highest leverage is 1:500, even though I have never tried it because I do not take big risks or short trades. My trades might run for up to 2 weeks sometimes and I am happy with my results with coinexx broker. I don't have so much comments but I know that if the broker is a bad one, then I won't be having good results. The spreads are also tight, though someone like me doesn't care about that since my trades are usually long. The major advantage I feel a tight spread has on my trades is that it reduces the risk of the trade reversing close to my TP, after it has touched the ask price but not the bid price because of big spreads. So far there has been no cause for alarm for me.
 
San Antonio, USA,
May 27, 2021,
Registered user

Buy and Sell FX majors here

Service use: Live

Length of use: 0-3 Months

EURUSD is my best because of the high volatility. With this pair, you can make a lot of money in a short time and if you don't know your way around it you can also lose a lot of money in a short time. I enjoy my trades with coinexx because it is easy to analyze the trades using the app, the spreads are very tight. Sometimes I check some other USD pairs but eurusd is my favourite. Withdrawal and deposit is also straightforward with this broker, I have made a couple of withdrawal seamlessly.
 
Salford, United Kingdom,
May 17, 2021,
Registered user

Good broker from my experience

Service use: Live

Length of use: 6-12 Months

I noticed the broker is not regulated. The broker being unregulated scared me at first even though someone who trades here recommended me. I traded with just as low as $300 and when I noticed it all went well, I increased it. I have deposited and withdrawn my money more than 4 times since I joined about 7 months ago and it has been smooth. The lack of regulation was scary but the quality services provided (usd account, spreads, leverage) made me forget that.
 
vigevano, Italy,
May 14, 2021,
Registered user

Cool spreads

Service use: Live

Length of use: over 1 Year

Many instruments to trade including cryptos, gold, siilver, major and minor pairs as well as popular indices. I also like the customer service
 
Hawaii, USA,
Apr 30, 2021,
Registered user

Best forex broker ever = Coinexx

Service use: Live

Length of use: over 1 Year

I've been trading forex for 18 years & Coinexx is by far the best broker I've had the pleasure to work with. Very strong support team, personable, friendly, knowledgeable & super professional. I have a decent size account with them & am completely confident & safe + secure with deposits & withdrawals. They offer crypto and traditional deposit & withdrawal transactions with a speedy turnaround time. Very reasonable spreads & always quick, fair execution. I highly recommend this broker to anyone looking to trade larger account sizes and have peace of mind that your balance is in very good hands. Also great for smaller accounts as well. Coinexx will treat you like a king / queen!
  1 trader has found this review helpful
SINGAPORE, Singapore,
Apr 29, 2021,
Registered user

Update: My deposit is in

Service use: Live

Length of use: 0-3 Months

My wire transfer 5k deposit was credited yesterday.
One of the managers called me to explain about the delay and they are sorry for the incident.
I feel quite assured of Coinexx. Also, she has promised that this will not happened again.

So yah, a positive conclusion. And my confidence in Coinexx has actually increased.
I cannot edit or delete the last 1 star posting, but this is my update and Coinexx works for me.

Apr 24, 2021 - 1 Star I took the effort to check the deposit aveunes. Coinexx gave me the deposit address for bank wire.

Before I made the transfer, i check them via email. They confirmed it is correct. On 30 March 2021, I made the deposit of 5k.
Every week, i have been checking if my deposit has been credited to my trading account. But it has not been credited.

I did a direcr bank transfer as I happen to have a personal account with the same bank. My transfer was immediate.

I talked to the customer service for 5 times already and emailed customer service. They can only tell me to wait.

Can coinexx check their ocbc bank account, and confirm if the money is in?

Im very worried about my funds. ALTHOUGH I KNOW THE COMPANY IS NOT SCAM, BUT THE WAY THEY ARE NOT ACKNOWLEDGING MY DEPOSIT, MAKES ME WORRIED
 
Ao,
gilbert, USA,
Apr 7, 2021,
Guest

Not the best

Service use: Live

Length of use: 0-3 Months

The whole portal interface is pretty bad. My fx limits did not tag me in... not sure if spreads for this are terrible or they are scamming. Good luck getting your money withdrawn, terrible withdrawal times and pretty poor service overall.
  1 trader has found this review helpful
Reply by Coinexx Support submitted Apr 13, 2021:
Dear Ao,

We searched through our records but could not find any client by your name. We also could not find anyone whose withdrawal was delayed by more than the stipulated time of 24 hours. Further, we do not have any restrictions on any fx orders.

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 endeavor 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: 20th Apr 2021) Dear Ao

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

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.