The website for Coinxe has been online for less than a year, despite its claims to be one of the oldest and most reputable exchanges. In actuality, this claim is only one of several fabrications we’ll cover in this study that show Coinxe is a dishonest broker and probably a scam.
Coin-XE Review – Regulation Status
By using the address Hornweg 1, 6370 Kitzbühel, Austria, Coinxe is likely trying to give the impression that it is an Austrian corporation. The so-called broker is neither registered nor physically present at the address, so that’s just another deception.
Nonetheless, we kept looking and, as we feared, were unable to locate any registered businesses, much less ones that were regulated, connected to the broker. We affirm that Coinxe is NOT REGULATED and hazardous, and the trading strategy appears to be completely unlawful! We’ll provide you additional proof later, but it’s just an anonymous website that’s probably a hoax.
Address: Hornweg 1, 6370 Kitzbühel, Austria
Warning: Ontario Securities Commission
Deposit And Withdrawal Methods And Fees
The fact that Coinxe gives no information on minimum deposit requirements raises suspicions that the broker is withholding important details about its offerings.
Although Coinxe is mainly just an anonymous website and is thought to be a scam, it is possible to fund accounts with credit/debit cards, bank transfers, and cryptocurrencies.
The fact that the so-called broker lacks any legal documentation, proving categorically that the entity is illegal, raises another another red flag about the concealment of information regarding withdrawals and fees. Prevent it!
There are no desktop or mobile applications available for Coinxe’s trading programme; it simply consists of a Webtrader. They use a straightforward web-based platform with a TradingView chart, which makes the terminal inexpensive and unstable because quotes provided by the broker might theoretically be altered. Consider your options carefully before making a Coinxe deposit because the software is subpar.
While though Coin Xe advertises a maximum leverage of 1:500, this does not change the reality that we are dealing with an unregulated, low-credibility website that blatantly exhibits every scam indicator imaginable.
How to keep yourself safe from scam brokers?
- Do good research about the broker. Go through reviews and pick a broker with positive reviews. A conventional web search can give experiences into whether negative remarks could simply be a disappointed broker or something more serious.
- Ensure the reviews do not contain anything negative about the broker’s withdrawal process.
- If you are happy with your examination on a specific broker, then trade for a while first, and afterward attempt to make a withdrawal.
- If you face some issues, discuss them with your broker. If it doesn’t go well, file a complaint and share your experience online with everyone.
Is Coin-XE broker Legit or a scam: Conclusion
It is clear from the Coin-XE review that this broker is not right for trading. We unequivocally encourage all traders and investors to keep away from Coin-XE and similar brokers. If you really want to trade online, find a broker who is regulated and has trusted and positive reviews.
Scammed by Coin-XE? Scam Helpers can help
If you are a victim of the Coin-XE scam, or other scams like the forex scam, cryptocurrency scam, binary scam, etc., file a complaint here to get your funds back. Scam Helpers can process your complaint and help you in fund recovery. We should begin and determine the matter before the harm is considerably greater. Your one step can save you and other people from being cheated by such brokers.
Visit our Facebook Page
Visit our Twitter account
Read the comprehensive list of Scam brokers here