Coinexx is an off-shore based trading company that was established just over 2 years ago. It is still operating without any licence, which should be a red flag to you. It certainly is for us, which is why we created this Coinexx review, so we can help you determine if this broker company is a good choice for you and your trading needs.
There is a lot of information missing on this trading company, which is why we had to dig deeper in order to give you the important data on it. We hope we made it possible for you to make a smart and impactful trading decision that can contribute to your trading knowledge and portfolio. Let’s begin!
Quality of Service
Coinexx claims to be providing top quality service in all its sections – from the trading platform to the trading conditions that are attached to each asset. However, as we dug deeper, we’ve learned that most of the time, Coinexx offer consists of impossible trading conditions that seem a bit too good to be true. Namely, the leverage is up to 1:500, which is quite a lot compared to the industry standard, which is 1:50 in this area. Also, the spreads are not specifically listed anywhere, so you can never know for sure what are the exact trading requirements.
Furthermore, the trading platform has two types – the MT4 and MT5. The MT4 platform offers you advantages such as one-click trading and negative balance protection, which can significantly improve your trading experience. The MT5 platform, on the other hand, gives you all that plus many more trading tools, signals and indicators that are important for your trading day. By using them, you can create a successful trading strategy that will last.
On the other hand, a successful and efficient platform still can’t make up for a modest selection of tradeable assets. In this case, you can trade with around 80 assets in total including several CFDs, currency pairs and commodities. There is also a lot of cryptocurrencies, but many of them have impossible trading conditions and requirements.
Speed of Response
The customer support team at Coinexx is not particularly well organized or adjusted to the hectic trading environment. Namely, their agents are quite difficult to reach, not to mention that they do not seem to be that friendly as they advertise on their website. The support team is completely lacking the telephone number option, while they take forever to reply via e-mail. In addition, the live chat option does not seem to be available at all. So, what’s left, you might ask? Well, the only thing that seems to be working is the online form which you can fill out on the website, but good luck with receiving a fast response!
The speed of processing your deposit and withdrawal requests is surprisingly efficient and prompt, considering how Coinexx seems to be taking its sweet time to do almost everything on their platform. These requests take around 48 hours to be processed no matter which payment method you use. During this time, Coinexx team is assessing your information and other important features in order to ensure the safety and security of your data and funds, which is a plus.
The good news about this section is that there are no hidden fees or additional commissions that can pop up and surprise you at any time during your trading adventure. The fee for any transaction starts at $2 and grows accordingly to the number of slots, which can go anywhere between 0.01 and 100.
As an unregulated company, Coinexx strips its clients from many advantages and useful features that they can apply to enhance their trading strategy. In addition, if something happens to go wrong or your rights are not being honoured, there is no way to ensure that the company will follow the guidelines of the industry and get you where you need to go.
Variety of Payment Options
The selection of payment methods at Coinexx is not particularly admirable. For example, there are no credit cards or bank wire transfer available, whether you wish to make a deposit or a withdrawal. On the other hand, there is quite a wide selection of crypto wallets, which they seem to be pushing for a lot on their platform.