CoinFXIndex is a broker with an existing warning due to its abhorrent trading conditions. With Austria’s regulator already warning investors, we feel that our readers should stay informed. All facts to this broker being one of the scams to have made millions from scamming investors. It’s our duty to expose them and show you the red flags surrounding this online trading scam. Coin FX Index is another ruthless broker who promises heaven but delivers hell. Read our eye-catching COINFXINDEX Review.
To steer clear of online fraud, you need to start using reliable and trusted brokers. These brokers come highly recommended by the trading community. Make a point to stand out from the pack and use reputable brokers with years of experience. These brokers will protect your investment and share their experience. You get to learn from the best and, thus, sharpen your trading skills. Make the most out of having transparent brokers who have your interest at heart.
A Background check of CoinFXIndex
Once you land on their homepage, you get to see an easy and well-designed website. Please don’t be anxious to sign up as the broker does their best to hide their flaws. These are scam artists who will do or say anything to hype their platform.
That includes also hiding the truth in plain sight. Thankfully, we have a keen eye and know how to spot small mistakes. We do have concrete proof that proves CoinFXIndex is a fraudulent broker.
Despite having an aesthetically appealing website, there are key factors to consider. These factors include their sales pitch and what they claim to bring to the table. Nothing sets true brokers apart from scam artists than the selling pitch.
Scam artists will come with insane claims such as guaranteed daily profit margins. Other scam artists will completely miss the mark by failing to give available trading conditions. Coin FX Index is no different from other scams.
Assets available for trading
According to their banner, there’s no commission on all of their trading assets. The trading instruments the broker claims to have includes Crypto, forex, indices, and stocks. In today’s market, every broker wants to get involved in the Crypto market.
PS: YieldNodes is 100% Verified and Recommended by Valforex.com.
We don’t see any information on the currency pairs the broker offers about Crypto. And that’s one of the missing information on their platform.
The name of the business owner is what made us realize that this is a scam. ROI Stock Limited is the company behind this trading platform. The company resides in St Vincent and the Grenadines, making them an offshore platform.
As we mention in all our reviews, avoiding offshore brokers is the first step towards freedom. All offshore brokers tend to hide the truth from investors especially relating safety of funds.
CoinFXIndex License and Registration
CoinFXIndex is not a legit brokerage platform as it already has questionable features. With most of the victims from Austria, the regulator from that region had to act. Complaints were lodged against the platform, and the FMA was the first regulator to blacklist this platform.
Already on one of Europe’s trusted regulators, we believe that others will follow suit. Please stay away from the broker as they are obviously a scam. The platform is only interested in having your hard-earned money.
We could not access their ‘terms and condition’s page as the link redirects us to the homepage. There are no documents to prove that this broker has undergone any compliance or regulation. The company behind this is synonymous with other broker-related scams.
It goes without saying that this is another ruthless trading scam waiting to pounce on unsuspecting investors. Make sure you sign up with a broker who has valid trading documents that match the regulator’s records.
We have seen various comments from trading forums regarding this broker. Most of the comments center on the inability to access accounts after making deposits. One such victim is Justin Waylon, who deposited $3,000.
The balance on his account did not reflect the full amount as $1,500 was missing. He has been trying to reach the broker for an explanation with no luck. It seems that the broker has shut off all communication with Justin.
Domain details (coinfxindex.com)
After checking out their domain features, one thing stands out. The platform is barely a month old, and there are complaints lodged against the platform. As of posting this review, the website was 19 days old. Records show that the website was created on March 15, 2021.
It’s clear to see that their claims of having years of online trading experience are false.
Features of CoinFXIndex
CoinFXIndex does not indicate their account plans on their homepage. And that’s relevant information missing from their website. These scam artists do so for a reason, and they want to trap all classes of investors.
Without account details, the broker will ask for any depository amount. Naïve investors will deposit without question as the broker conjures them with an empty promise of making quick money.
Once you deposit with the broker, you get assigned to an account manager. The account manager will constantly contact you for more deposits.
They claim that the more you deposit, the higher your chances of winning. And that’s the last you will hear from them, especially if you add on top of your initial deposit.
Depositing and withdrawal procedure
When it comes to depositing with the broker, the process is easy and takes five minutes to complete. Depository options listed on their homepage include Bitcoin, Maestro, MasterCard, Visa, and others.
Withdrawing funds with this broker remains to be the biggest hurdle facing members. No one has made withdrawals days after depositing. You expect to withdraw funds after a week of trading. That’s not going to happen with CoinFX Index.
Safety of funds with CoinFXIndex
There’s no safety of funds when it comes to an offshore broker. Despite claims of having a secure wallet, these false features are meant to entice investors. The broker does not segregate accounts nor insures deposits.
Without validity from regulators, we are sure the broker does not protect investors. The best option is to stay away from these scam artists.
Scam or Legit CoinFXIndex
CoinFXIndex is a scam that is waiting to pounce on unsuspecting investors. These investors are taken for a ride as the broker swallows all their deposits. With the broker already on FMA’s blacklist, it’s best to stay away from them.
No one will earn with this platform as it’s another ROI Stock Limited-led scam. These are scam artists who do this for a living. We hope that this review will open your eyes.
We won’t be recommending a broker that has no valid license. With the broker already on the blacklist of one of Europe’s top regulators, it’s best to stay away.
The surest way of making reasonable profit margins is by having an expert by your side. With tested and trusted brokers, your chances of winning increase. Make the bold move and sign up with leading online brokers.
We wish you all the best when it comes to online trading.