Score

1.47 /10
Danger

Coin Fx Trade

Saint Vincent and the Grenadines

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

Add brokers

Comparison

Quantity 4

Exposure

Open Account
Website

Score

Regulatory Index0.00

Business Index6.68

Risk Management Index0.00

Software Index4.00

License Index0.00

The WikiFX Score of this broker is reduced because of too many complaints!
Open Account
Website

Licenses

No valid regulatory information, please be aware of the risk

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

open now

Broker Information

More

Company Name

Coin Fx Trade

Company Abbreviation

Coin Fx Trade

Platform registered country and region

Saint Vincent and the Grenadines

Company website

Company summary

Pyramid scheme complaint

Expose

Check whenever you want

Download App for complete information

Warning: Low score, please stay away! 2
Previous Detection : 2024-12-23
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 4 for this broker in the past 3 months. Please be aware of the risk!

WikiFX Verification

Pyramid scheme complaint
Expose
Coin Fx Trade · Company summary
Aspect Information
Registered Country/Area Saint Vincent and the Grenadines
Founded Year 2-5 years
Company Name Coin Fx Trade
Regulation No Regulation
Minimum Deposit Not specified
Maximum Leverage Not specified
Spreads Not specified
Trading Platforms Not specified
Tradable Assets Not specified
Account Types Not specified
Customer Support Email: info@coinfxtrade.com
Payment Methods Not specified

Overview of Coin Fx Trade

Coin Fx Trade is a broker in the financial market that operates without valid regulation and oversight from authorized regulatory bodies. This lack of regulation exposes investors and traders to inherent risks. Verified sources indicate that Coin Fx Trade has received a significant number of complaints within the past three months, further raising concerns about its legitimacy.

Limited information is available about Coin Fx Trade, making it difficult to assess its services, reputation, and operational practices. Transparency is lacking, which should be a red flag for potential investors and traders. It is advisable to exercise caution and conduct thorough research before considering any financial transactions with this unregulated broker.

Customer support for Coin Fx Trade is exclusively provided through email communication, with no disclosed telephone numbers or alternative contact options. This limited accessibility may hinder the ability to obtain immediate assistance or clarification from the customer support team.

Reviews on WikiFX highlight numerous issues related to withdrawing funds from Coin Fx Trade. Users have reported difficulties, errors, and unresponsiveness during the withdrawal process. Delays in resolving withdrawal issues, generic responses from the support team, and high withdrawal fees have been cited as common problems faced by customers. These patterns of withdrawal-related issues further contribute to the concerns surrounding Coin Fx Trade.

Considering the lack of regulation, limited information, and withdrawal-related problems reported by users, it is advisable to approach Coin Fx Trade with caution and explore alternative options with proper regulation and transparency.

Pros and Cons

Coin Fx Trade is a broker in the financial market that presents several concerning aspects. With no apparent pros to its name, this broker suffers from a lack of valid regulation, which poses inherent risks for investors and traders. Additionally, there are suspicions surrounding its regulatory license and scope of business, raising further red flags. A significant number of complaints reported on WikiFX indicate a pattern of issues, including difficulties in withdrawing funds, unresponsive customer service, delays in resolving withdrawal problems, and high withdrawal fees. Furthermore, there is limited information available about the broker, and customer support is provided exclusively through email, potentially impacting accessibility and prompt assistance. These cons collectively contribute to the overall questionable nature of Coin Fx Trade as a trading platform.

Pros Cons
None Lack of valid regulation
Suspicious regulatory license
Suspicious scope of business
Significant number of complaints on WikiFX
Limited information available about the broker
Customer support provided only through email
Difficulty in withdrawing funds
Unresponsive customer service
Delays in resolving withdrawal issues
High withdrawal fees

Is Coin Fx Trade Legit?

Coin Fx Trade, a broker in the financial market, lacks valid regulation according to verified sources. This means that the company is not overseen by any authorized regulatory body. It is crucial to note that investing or trading with an unregulated broker carries inherent risks.

Moreover, WikiFX, a platform that collects user complaints and feedback, has reported a significant number of complaints specifically related to Coin Fx Trade. Within the past three months alone, four complaints have been registered against this broker. This notable volume of complaints serves as a warning sign and emphasizes the importance of exercising caution when dealing with Coin Fx Trade. It is prudent to thoroughly consider the associated risks before engaging in any financial transactions with this unregulated broker.

regulation

General Information

Coin Fx Trade is a broker that claims to operate without regulation and is reportedly located in Saint Vincent and the Grenadines. However, there is limited information available about this broker online. Detailed information regarding its services, reputation, and operational practices is scarce or nonexistent. It is important to exercise caution when dealing with a broker that lacks transparency and regulatory oversight. Investors and traders should conduct thorough research and consider alternative regulated options before engaging with Coin Fx Trade.

Customer Support

Coin Fx Trade provides customer support exclusively through email communication. To reach out to their support team, individuals can use the email address info@coinfxtrade.com. However, it is worth noting that this broker does not disclose other direct contact information, such as telephone numbers, which are commonly offered by most brokers. This limited range of contact options may impact the accessibility and convenience of obtaining immediate assistance or clarification from Coin Fx Trade's customer support team.

Reviews

Reviews on WikiFX regarding Coin Fx Trade highlight the issue of being unable to withdraw funds. Users have reported difficulties in withdrawing their deposited amounts, encountering errors during the process, and experiencing unresponsive customer service. Complaints mention delays in resolving withdrawal issues, repeated generic responses from the support team, and frustration with the inability to access their funds, ranging from $50 to $300. Additionally, one user mentioned high withdrawal fees of $20 as another obstacle. These reviews indicate a pattern of withdrawal-related problems faced by customers of Coin Fx Trade.

reviews

Conclusion

In conclusion, Coin Fx Trade, an unregulated broker based in Saint Vincent and the Grenadines, lacks valid regulation and oversight. Verified sources indicate that the company operates without authorization from any regulatory body, which exposes investors and traders to inherent risks. Furthermore, the notable volume of complaints registered against Coin Fx Trade on the WikiFX platform raises concerns about the broker's reliability and customer service. Limited information available about the broker, coupled with withdrawal-related issues reported by users, further underscores the need for caution when considering engaging with Coin Fx Trade. It is advisable to conduct thorough research and explore alternative regulated options before making any financial transactions with this broker.

FAQs

Q: Is Coin Fx Trade a regulated broker?

A: No, Coin Fx Trade lacks valid regulation and operates without oversight from authorized regulatory bodies.

Q: What is the WikiFX score for Coin Fx Trade?

A: Coin Fx Trade has a low WikiFX score of 1.38 out of 10, indicating a high level of danger.

Q: Where is Coin Fx Trade located?

A: Coin Fx Trade claims to be located in Saint Vincent and the Grenadines.

Q: What are the concerns regarding Coin Fx Trade's regulatory license?

A: Coin Fx Trade holds a suspicious regulatory license, raising doubts about its legitimacy and regulatory compliance.

Q: What is the scope of business for Coin Fx Trade?

A: Coin Fx Trade has a suspicious scope of business, suggesting potential risks or questionable practices.

Q: How can I contact Coin Fx Trade's customer support?

A: Coin Fx Trade's customer support can be reached via email at info@coinfxtrade.com. However, they do not provide additional contact options like telephone numbers.

Q: What do reviews say about Coin Fx Trade?

A: Reviews indicate difficulties in withdrawing funds, unresponsive customer service, and high withdrawal fees, raising concerns about Coin Fx Trade's reliability.

User Reviews

More

User comment

3

Comments

Write a review

FX1284835418
more than one year
Don’t trade with offshore brokers! this a piece of advice I’ve told all people thousands of times. Coin Fx Trade is a 100% scammer, offering fake trading conditions, terrible trading platform. Its staff knows nothing about real forex trading, and they are trained to defraud you!
Don’t trade with offshore brokers! this a piece of advice I’ve told all people thousands of times. Coin Fx Trade is a 100% scammer, offering fake trading conditions, terrible trading platform. Its staff knows nothing about real forex trading, and they are trained to defraud you!
Translate to English
2023-02-24 14:27
Reply
0
0
FX1108993256
more than one year
Don’t trade with this broker! They ate their words. At first, they promised that it charged no fees for deposits and withdrawals. Then, when I told them that I wanted to make a withdrawal, what their response was if I wanted to withdraw my funds, I needed to pay a withdraw fee of 5%, that was too much. It is just a liar.
Don’t trade with this broker! They ate their words. At first, they promised that it charged no fees for deposits and withdrawals. Then, when I told them that I wanted to make a withdrawal, what their response was if I wanted to withdraw my funds, I needed to pay a withdraw fee of 5%, that was too much. It is just a liar.
Translate to English
2022-12-05 15:38
Reply
0
0
4