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Is COINEXX legit? I cannot find the regulation on its website, please check it for me.
Haneef Orison Nuhu
Israel
Oct 20, 2021
ANSWER COINEXX is NOT a legitimate broker. This broker provides the minimum information about its regulation, company name, trading conditions and contact details, which is already a red flag for potential traders. According to the information presented on its MT5 software, this broker is operated by Coinexx Ltd, a UK-based company registered with Companies House. However, it doesn't mean the authorization of the Financial Conduct Authority (FCA), the regulator that approves licenses for the brokers in the UK. The truth is, we didn't find any information about its regulation from FCA. So currently COINEXX is actually not regulated by any financial regulator. That means investors' funds in this broker is unsafe and cannot be protected by any laws. Therefore, it is thoroughly a scam. we would recommend traders to stay away from unregulated brokers like COINEXX and trade with licensed brokers.
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