What is COXIGO？
COXIGO, a trading platform based in Comoros. COXIGO offers a range of market instruments including CFDs, Spot Metals (Gold and Silver), and Futures (Crude Oil and Stock Indices). NFA holds an unauthorized regulatory status. COXIGO provides customer support via phone, email, and online messaging, with support available 24/5. The platform utilizes the MT5 trading platform and offers a demo account for clients to practice trading.
If you are interested, we invite you to continue reading the upcoming article where we will thoroughly assess the broker from various angles and present you with well-organized and succinct information. By the end of the article, we will provide a concise summary to give you a comprehensive overview of the broker's key characteristics.
Pros & Cons
Pros of COXIGO:
MT5 Supported: The platform supports the widely used MT5 trading platform, offering a familiar and powerful tool for traders.
Fraud Protection Measures: COXIGO claims to provide fraud protection measures, indicating a commitment to safeguarding clients' interests.
Variety of Trading Instruments: COXIGO offers diverse trading instruments, including CFDs, Spot Metals, and Futures, providing clients with options for diversification.
Cons of COXIGO:
Unauthorized Regulation: The platform's association with the National Futures Association (NFA) with an unauthorized status raises regulatory concerns.
Lack of Clarity on Trading Conditions: COXIGO's unclear presentation of trading conditions, including spreads, commissions, swaps, and funding methods, may lead to uncertainty for potential clients.
Absence of Social Media Presence: The platform's lack of a social media presence may limit communication and transparency with clients.
Is COXIGO Safe or Scam？
COXIGO asserts that it provides protection measures such as securing funds with reputable banks and maintaining a strategy that keeps client funds separate from operational capital to ensure the safety of clients money.
However, The National Futures Association (NFA) has an abnormal regulatory status, with the official regulatory status being Unauthorized. In other words, the NFA does not have the necessary authorization to conduct its financial services as indicated by its license type (Common Financial Service License) and license number (0559241).
Markets Instructments
COXIGO offers a variety of trading instruments to its clients, including CFDs, Spot Metals (Gold and Silver), and Futures (Crude Oil and Stock Indices).
CFDs (Contracts for Difference): COXIGO provides CFDs, which are derivative products that allow traders to speculate on the price movements of various financial instruments without owning the underlying asset. With CFDs, investors can trade on a wide range of markets, including stocks, commodities, currencies, and indices. CFD trading enables traders to take advantage of both rising and falling markets, and it offers leverage, allowing traders to potentially amplify their returns.
Spot Metals (Gold and Silver): COXIGO provides trading opportunities in spot metals, primarily Gold and Silver. Spot metal trading involves buying or selling these precious metals at their current market price (“spot price”) for immediate delivery. Spot metals can be attractive to investors looking for a safe-haven asset or as a diversification tool for their investment portfolio.
Futures (Crude Oil and Stock Indices): COXIGO offers futures trading in Crude Oil and Stock Indices. Futures are standardized contracts that obligate the trader to buy or sell an underlying asset (in this case, Crude Oil or a Stock Index) at a predetermined price and date in the future. Futures trading allows investors to speculate on the price movements of these assets without owning them physically. It offers an avenue for market participants to hedge against price fluctuations or to benefit from anticipated market movements.
Trading Platforms
COXIGO provides its clients with the popular MT5 trading platform. MT5 is a comprehensive and technologically advanced platform that offers a wide range of features and tools for traders. With a user-friendly interface, COXIGO's MT5 platform allows clients to access various financial instruments, including forex, stocks, commodities, and indices, all from a single interface.
One of the key strengths of the COXIGO MT5 platform is its advanced charting capabilities. Traders can customize their charts with multiple timeframes, indicators, and drawing tools to conduct technical analysis efficiently. This enables them to make well-informed trading decisions based on market trends and patterns.
Customer Service
Customers can visit their office or get in touch with customer service line using the information provided below:
Telephone: +971 509352067
Email: info@coxigomarkets.com
Address: Moheli Corporate Services LTD P.B. 1257 Bonovo Road, Fomboni, Comoros, KM
Office No. MF- 099, Golden Eyes Business Center, Al Muteena Area, Deira, Dubai, UAE
COXIGO offers online messaging as part of their trading platform. This allows traders to communicate with customer support or other traders directly through the platform.
Conclusion
In conclusion, COXIGO is a trading platform that claims to offer support for the MT5 platform. However, there are significant concerns and drawbacks associated with this platform. First, COXIGO is not authorized by the NFA, which raises questions about its regulatory compliance and oversight. Besides, unclear trading conditions and absence of a social media presence further decrease the platform's credibility.
Frequently Asked Questions (FAQs)
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.
In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.
2024-07-16 18:15
2024-03-22 15:33
