Coinexx Review

Coinexx has been my go-to forex broker. Their YouTube channel provided valuable tips and insights which helped me a lot throughout the journey.

Coinexx has impressed me with its tight spreads and excellent trading conditions. The crypto funding option is a great addition, making it a highly convenient broker.

Opting for a no dealing desk (NDD) broker like Coinexx is a wise choice due to the distinct advantages it offers over dealing desk brokers. Unlike dealing desk brokers, NDD brokers eliminate unfavorable practices that can negatively impact traders, such as slippage, requotes, and server disconnections. Transitioning from a market maker broker to Coinexx proved beneficial, as I was dissatisfied with the inequitable dealings experienced previously. The advantages of trading with an Electronic Communication Network (ECN) broker are evident, exemplified by an 8% increase in my weekly profits compared to the preceding weeks. This tangible evidence highlights the superior trading conditions, including tighter spreads, provided by Coinexx.

Over a year with Coinexx, the backend UI might not be the best, but the withdrawal process is easy, and the customer service is consistently kind and helpful. And I dont worry about latency issues when trading with them.

Regarding Coinexx Malicious Denial of Withdrawal Due to improper falsification of transaction records and improper swap collection, a profit cancellation withdrawal (US$35,450) was denied. The breakdown is as follows ・19,498USD profit reduction due to improper falsification of records ・13,883USD Improper swap collection ∙ 2,069USD Insufficient funds received A withdrawal of 102,374USD was requested on December 8. It was supposed to be processed within 48 hours, but was not. Subsequently, due to falsified transaction records and improper swap recovery, the benefit was cancelled without notice. The remaining amount (USD 69,011) was explained to have been paid on 12/22, but only USD 66,942 was received. The withdrawal was made in USDT (ERC20) and Etherscan confirmed that the shortfall occurred after the withdrawal. Below is the explanation and the conflicting responses from email and support. [1. Falsification of transaction records Adverse execution records were falsified and profits cancelled. I received an email stating that there was an unauthorized transaction, which of course I do not remember. Further, when I contacted support they stated they do not interfere with customer transactions. There is a discrepancy. [2. Unreasonable swap collection There is a record of -138831USD listed as Swap Adj. The swap was deducted from the position, but the profit was cancelled due to unreasonable additional collections. Additionally, support confirmed that the correct swap short for USDJPY is -3.9. Only if the trade was initiated overnight would we charge a transaction fee and a swap fee. Again, there is a discrepancy here. Note that after the improper collection, the swap point was changed to -35.19. This is odd because -3.9 should be correct. When I contact the support chat they explain they will respond within 12-24 hours. However, no response by the deadline and if you contact them again, the response is just being processed. I assume they are busy processing fraud. The answer that finally comes is "trading activity is verified by LPs because there appears to be abuse of the trading platform. Of course, this is a transaction I do not recall. As you know, LPs are price and liquidity providers and there is no way for an LP to individually scrutinize trading records. This is a malicious lie and an unfair description that confuses users with jargon. I inquired about abusive transactions and it is explained that they are within 12-24 hours. Of course, they don't keep their promises. There is dishonesty in the response. Here is the final response we received You were attempting to unfairly take advantage of both the swap and the missing price feed on our platform, which is unacceptable. Therefore, the transactions you made were completely unfair and dishonest. As a result, the necessary changes were made to your account in connection with the swap. As a result, your request for withdrawal was denied on our part. As a broker, we recommend that you refrain from unethical trading practices in the future. In this case, your account will be terminated. [Withdrawal Refused] There are no restrictions on trading strategies. We will not interfere with your trades." [The correct swap short for USDJPY is -3.9. We only charge a transaction fee and a swap fee if the trade is initiated overnight. There is a discrepancy in all of this. Furthermore, even though the swap is falsified in relation to the swap, the execution price is also improperly falsified. They can do whatever they want. It was then explained that the remaining amount (US$69,011) was withdrawn on December 22. However, the amount received was USD 66,942. We confirmed that the withdrawal was made in USDT (ERC20) and that the shortfall occurred after the withdrawal as shown in Etherscan. We pursued this issue via email but did not receive a response.Please note that withdrawals of $28450, $23924.72, and $16637.28 were processed successfully. The sum of these three withdrawals is the money you actually owned. What was successfully processed? That is not actual money, it is money that was improperly reduced. What I am asking for is a proper withdrawal. 【 Problem solved 】 On January 4, Gaurav J, Coinexx's Executive Director and Head of Customer Relations, apologized for the disturbance and returned the unjustified adjustment, and the withdrawal was completed in full. There was no response to this inquiry until the end of the day. The content of the last e-mail was also questionable, Since our goal is to complete the withdrawal, we will refrain from pursuing the matter as long as we have done so. 【 To similar victims 】 Although the matter was finally resolved, the response leading up to the resolution was not of the highest quality, and without my pressuring approach, the funds would have been taken away. I am not sure what was the deciding factor in posting on various review sites, reporting to MetaQuotes, X, spreading the word on FB, etc., but it seems to work. The many screenshots left in this thread may also help you. We have evidence of many other discrepancies that we have not posted in this thread, so please contact us if you have been similarly victimized by COINEXX.