CoinXGlobal Review – 5 things you should know about coinxglobal.com

CoinXGlobal Review – 5 things you should know about coinxglobal.com

Rating: 1

Beware! CoinXGlobal is an offshore broker! Your investment may be at risk.

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Don’t put all your eggs in one basket. Open trading accounts with at least two brokers.

 

CoinXGlobal presents a high-tech tone that is also minimalistic, a combination of themes that we found to be appropriate for a broker. Unfortunately, this is the only good thing about the brokerage.

The registration process of the broker is in a completely different tone. Once we entered the registration page, the logo of the broker changed, so did the coloring. Black and green gave way to white and yellow.

The user area rejected all previous pallets and presented its self in a unique way, very different from what we expected. However, this doesn’t mean anything when you are dealing with an illegal broker. All came crashing down when we realized that there was no trading platform. Therefore there are no applicable spreads, leverages, and trading assets.

The website of this false broker is available in English.

COINXGLOBAL REGULATION AND SAFETY OF FUNDS

The company claims to be regulated by ASIC, CySEC, the Securities Commission in the Bahamas, as well as the Financial Services Authority of Seychelle.

What the broker has blatantly done is to put forth the name of a legit brokerage parent company regulated in the Seychelles that has nothing to do with CoinXGlobal. This parent firm is fully regulated and a legit entity, but it is in no way affiliated to CoinXGlobal. In other words, the broker is not regulated in Seychelles.

As for the rest of the regulators, we can safely say that the broker isn’t regulated in either one of them. There is no proof of this, and neither of these overseers would ever make an exception for CoinXGlobal.  These claims are nothing more than false statements.

We later found out that the terms and conditions are written using the most popular dummy text or Lorem Ipsum as it is more commonly referred to. This is the most circulated filler text template and is used whilst developing websites. Its use on public websites is an indicator that something has not gone according to plan.

The plan here being to scam as many users as possible. Do not invest in this unregulated broker. It is a risk to all invested capital.

If one were to find a reason for investing in unlicensed brokers it would create a seismic shift in the market industry. But until then, your money will be wasted with unlicensed entities. Their only purpose is to steal money and use it for their own benefits. Not unlike regulated brokers, whose goal is to provide a stable, safe, and fair trading environment. We say go for any UKEUUS, or Aussie-regulated brokers, although there are many other great licensors out there. Financial watchdogs are responsible for sustaining the market industry as a whole, and they are what keeps everything in place. Without them scammers would be rampant. Put your trust in them, for we have!

COINXGLOBAL TRADING SOFTWARE

There is no trading platform used here. This is the hard truth. Instead, in a very scammer approach, CoinXGlobal offers the notorious investment plans which offer nothing, and act as investment schemes, perhaps even embodying the very essence of the investment scam.

Clients are told that they should invest a given amount, wait a few days, and then receive a profit more than double what they initially invested.

One of these plans even promises users to return their money without any profit. It literally says, that investing $300 in the Silver Plan will give you back the $300 the next day. Is this a joke, or is CoinXGlobal serious?

COINXGLOBAL DEPOSIT/WITHDRAW METHODS AND FEES

The user area is our best bet on all payment details. With that said, we found out that the user can only really invest by means of bank transfer and crypto wallet. However, to our surprise the depositing area was unresponsive, and as a result, we could not take a minimum deposit requirement. The withdrawal area revealed that the payment methods are the same as the ones revealed. But other than that, there was no further payment info.

As for the website, as far as we’re concerned we do not trust it because it is filled with lies. The website claims to be offering more than ten different investment and withdrawal means, whereas we have seen in the user area that there are only two. This is just a single example of how unreliable the site really is.

We don’t have anything else to say, and we really don’t need to. In the ned, CoinXGlobal is illegal and a scam. It is a risk to all investors!

HOW DOES THE SCAM WORK

The way the scam works is the same way it has been since the begining. Very few changes have been made since its inception.

First, the user is attracted to one of many online ads that promise wealth and prizes, or he can be triggered via an email received from the broker.

If these sound too good to be true, then the user, out of curiosity, will scout the website of the broker and either be fooled by the offers there or will immediately understand the fraudulent nature of things.

The broker will require some sort of contact method from the user, so that the scammers can keep a tab on the user. The client will then be pushed into investing as many times as possible, but the general rule is that once an initial deposit is made the user will be more willing to invest more.

At some point – it’s inevitable – the user will feel like he wants to see some of that promised money, and will ask for a withdrawal. At this point, the broker has lied his way through a couple of investments. Once the withdrawal request hits, the broker will do everything in its way to stall it or cancel it. One way or another, the user will have a very hard time receiving his money back.

WHAT TO DO WHEN SCAMMED

VISA and MasterCard have extended their chargeback periods to 540 days, meaning that user has more than enough time to file for one. This is the safest bet for your money back.

If the money invested was made through a bank, then we urge victimized users to change their bank account pass and user name ASAP. And then they should contact the bank support team and explain their situation.

Crypto investments are the riskiest of all because they are untraceable. Only the broker can repay you if it wishes to do so.

Do not put your money with recovery agents no matter how tempting it may sound. It’s the temptation that got you in this mess in the first place! Recovery agents will promise to reimburse users for an exchange fee that will be also stolen!

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