Coinexx.com
Broker name:
Coinexx.com
Company name:
No info
Branches:
No info
Address:
Caravelle House, Manglier Street, Victoria, Mahé, Seychelles
Website:
https://coinexx.com
Founded:
2017
Regulators:
No info
Prohibited
countries:
countries:
Unknown
Contacts:
support@coinexx.com
Trust Score
This broker is risky
0%
Customers global satisfaction
Excellent
0 %
Geat
0 %
Average
0 %
Poor
0 %
Bad
0 %
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Basic profile
Coinexx is a foreign exchange broker. Coinexx provides MetaTrader 4 and 5 top foreign exchange trading platforms. Coinexx.com provides more than 60 foreign exchange currency pairs, stock indexes, gold, silver, bitcoin and other cryptocurrencies for your personal investment and trading options.
Risks assessment
Products and services
Trading platforms
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Web trading
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Mobile trading
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Autotrading
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ECN
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Scalping
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Managed accounts
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Trading conditions
Min. trade size
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Max. leverage
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Min. investment
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Traded Forex
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Traded cryptocurrencies
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Traded stock
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How to deposit
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How to withdraw
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Domain info
Domain age
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WHOIS registration date
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WHOIS renew date
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SSL certificate
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As always Coinexx will lie to get your money. DO NOT LET THEM FOOL YOU! I have recorded the chat log and here it is. (https://pastebin.com/xeFR1dD4) In the chat they state "It is because the volatility is high and the fluctuations have also increased." and that is somehow an excuse for filling me at the top and bottom. Coinexx LIE again and in their response they say they never told me it was because of high volume. Too bad they like lying to steal your money. They refuse to compensate me for these terrible execution times/methods and are trying to cover me up. I have more chat logs and refusals to help if they claim I did not. STAY AWAY!May 15, 2020 - 1 Star I have talked this over many times with the Coinexx Team, and yet they also give me the same excuse of "big overload in servers/heavy volume" as a result of such terrible execution and unethical practices.On 3/12, I opened a trade on the US30. I was almost immediately stopped out for some reason. I thought it was my bad trade but it was something deeper than it entirely.My Trade: https://i.imgur.com/VR7gUDS.pngTrade in question: https://i.imgur.com/aggOfbd.pngThe trade was a market order and yes, there must have been slippage/higher spreads due to the market opening but it does not make sense on how I was even entered there. I caught the exact top and bottom of the candle. How???Furthermore, the candle never MADE IT UP THERE. Yes, spreads are high, but so perfectly? The candle ONLY WENT DOWN. It was a heavy selling day, so price never even went up. My loss would not have been at the top of the candle, but progressively would have went down due to price doing so. This is broker manipulation at its finest as they can claim "high spreads" etc etc. I cannot find a single other person at a different broker who has ever experienced this during this time or even during higher volatility.Final Balance after Trade: https://i.imgur.com/xMjyIH5.pngNext, I asked for tick by tick data to see the live spreads and price during the time. However, they were uncooperative and would not hand over the data.Here are the excuses they are going to give and my rebuttals.1. The spread was too high, too much volume!1a. How is the spread that high but it fills me at the EXACT bottom and closes me at the EXACT top? If the spreads are high, I should have been filled somewhere else and still have gotten considering the candle went straight down.2. We can't do anything about it, it was your mistake.2a. I dont see how filling me at the tops and bottoms is somehow my mistake. Furthermore, the candle never went back up from the point I opened, so I should not have even been stopped out at that level.After this whole debacle, Coinexx stated they would email me after "INVESTIGATING" this further. What happened was that Coinexx ignored my chats and never followed up with emails. They do not help, but stall your time.TLDR; shady business by Coinexx (account manipulation), and unresponsiveness to emails. They somehow filled by account at the exact bottom and exited me at the exact top, making me lose my balance + more.Reply by Coinexx Support submitted May 19, 2020 Sub: Blaming Coinexx for the losses due to crashing of Global indices Dear Client, The trade in question (order ID 1519499) was placed by you on 12-Mar-20 at 16:30 (Server Time), i.e. right at the time of market opening, as can be seen in the screenshot you have already shared. 12-Mar-20 is considered as a historic day on the Wall Street. Dow plunged 10% with its one of the worst performances since Black Monday in 1987. Within the first few seconds of its opening, DOW shaved-off 500 points, and spreads widened as it was the very 1st minute of market opening. Our spread on U30 at this time was only 28 points, which was extremely low when compared to the market wide spreads, owing to such high volatility and the crashing of all US Indices. Just 17 seconds after the market opened, you sold 7 Lots of U30 at a price of 21,882. This was the Lowest price during the 1st minute, (refer attached chart https://paste.pics/9203W). Due to the 500-point price movement during the very 1st Minute, a margin call stop-out got triggered on your account after 10 seconds of you having opened the trade. Your trade got closed at 22,386 (i.e. 504 points away from your Entry price), which was the best available “Ask price” at the time. Although this price does seem to be at the top of the first 1M candle, it is not the “Bid price” and it therefore it would not show over the price chart. The Sell trades always close at the “Ask price” and the charts only show the “Bid price” and not the “Ask price”. Hence, referring only to the candlestick for the Entry and Exit prices is not the correct approach. This trade suffered a loss of $3528 and your account balance became negative $2750, which is a direct cost incurred by Coinexx. We even provided you with Negative balance protection and we reset your account back to “Zero” as per our Client first policy. All this information was already explained to you over emails dated 18-Mar-20 and 20-Mar-20 (refer screenshots https://paste.pics/9204V and https://paste.pics/9204J), and there was no excuse given pertaining to: "big overload in servers/heavy volume" as you have claimed above. You again inquired about this trade over our chat support on 20-Mar-20. During the chat, we had requested you to let us give you a call explaining the information already shared over the earlier two (2) emails. However, since you insisted that you only wanted a response via email, we had sent you another detailed email explaining this trade right after 10 minutes of you leaving the chat. Since then, we did not hear from you. Hence your claim that you received a response that we were investigating and we never went back to you is just not true. Also, your clam stating you were given an excuse of excuse pertain to: "big overload in servers/heavy volume" is not true. We hope that this information now clarifies your doubts. This was a trade loss that you incurred due to sudden price movement and we as a true ECN broker do not have any control or influence over the trades placed by you. We cannot be blamed for your losses resulting from crashing of global indices. 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. 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
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.
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
I have been trading Forex from the past 12+ years and was referred to Coinexx by one of my colleagues. I have been with them since 1.5 years now and never had any complaints. Their spreads are really awesome and the withdrawals always come in time. I just wish they could make withdrawal timeline shorter than 48 hours. Can't say much about their customer service since I've hardly ever interacted with them. One issue I faced once was that my deposit did not get added to my MT4 account, but they manually added it over chat.
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 0On 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 assistanceRegardsSamanthaI 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 youCoinexx TeamI 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.