Coinflex Trading review – 5 things you should know about coinflex-trading.ltd

Beware! Coinflex Trading 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.

Coinflex Trading assures us that it is a trustworthy investment intermediary. But fact-checking shows otherwise – that this is yet another scam taking advantage of the hype around cryptocurrencies. Let’s examine the clues that Coinflex Trading is a scam and discuss how to find a legitimate broker suitable for your needs.

Coinflex Trading Regulation and safety of funds

There are no Terms and Conditions, Client Agreement or other required documentation. On this website. We did not found any evidence that the company Coinflex Trading Limited really exists.

When you visit the website of a legitimate broker you can expect to find clear and detailed information about the company that owns and operates it, where it is based and what regulatory regimes it is subject to. Licensed financial services providers are also required to provide a comprehensive set of legal documentation.

Coinflex Trading claims to be based in the United Kingdom.

But such an anonymous website cannot operate as a broker in a regulated jurisdiction. This has been confirmed by the UK’s Financial Conduct Authority (FCA), which has blacklisted Coinflex Trading.

If you intend to invest in financial instruments, you should beware of the many fake brokers lurking online. Always check carefully whether the broker you choose really has the necessary licences. There are numerous benefits to working with a company that is truly authorised and supervised by a regulatory institution such as the FCA or some EU regulator like Cyprus Securities and Exchange Commission (CySEC).

As their customer you will enjoy a number of guarantees including negative balance protection and guarantee for your funds if the broker goes bankrupt, which goes up to EUR 20,000 in EU and 85,000 GBP in the UK. Regulations in the UK and EU include some important measures designed to improve investor protection and promote market integrity and transparency, such as transaction reporting. Regulated brokers are also required to segregate their operational funds from the client’s money.

Coinflex Trading Trading software

In addition to the lack of a licence, Coinflex Trading does not have the technological capacity to facilitate trading in financial instruments. Coinflex Trading does not have any trading software.

If you use the services of a licensed broker, you will get the opportunity to use established software with advanced features and versions for all types of devices and operating systems. The most widely used trading platforms in the industry are MetaTrader 4 (MT4) and MetaTrader 5 (MT5).

Coinflex Trading Trading instruments

Coinflex Trading advertises crypto derivatives trading, which is banned in the UK. So this is further proof that we are dealing with a fraud.

Coinflex Trading Spreads and cost of trading

Legitimate forex brokers offer a variety of trading account types tailored to the needs of clients with different capital and investment intentions. These brokers also provide clear and detailed information on trading parameters – leverage, spread, commissions, order execution method, etc. Instead, Coinflex Trading offers investment plans promising guaranteed profits.

A genuine broker will not and cannot promise you guaranteed profits. In fact, licensed companies are obliged by regulators to warn their clients about the high risk of losses when trading financial instruments.

Coinflex Trading Maximum leverage

High leverage creates the opportunity for more significant profit, but correspondingly increases the risk of sudden and excessive losses. All leading regulators therefore restrict leverage for retail traders. The FCA, like EU regulators, limits leverage to 1:30.

Regulated brokers offer higher leverage only to professional clients who must meet very high standards for capital and experience and forgo the guarantees enjoyed by retail traders.

If you don’t qualify as a professional trader but are willing to take the risk of high-leverage trading, the most viable option is to use the services of an offshore affiliate of an established brand.

Coinflex Trading Deposit and withdrawal methods

Coinflex Trading only allows the deposit of funds with cryptocurrencies. This is typical of financial scammers. Cryptocurrencies are their payment method of choice because on the one hand they allow the scammer a degree of anonymity, and on the other hand they do not allow the scammed to ask for a refund.

While there are some legitimate brokers that accept digital currencies like Bitcoin, they do so alongside other transparent payment methods such as credit/debit card, bank transfer or popular e-wallets like PayPal, Neteller or Skrill.

Coinflex Trading Minimum deposit

The required minimum investment is low – 30 USD. But this should not tempt you. For an even lower amount, you could open a Micro or Cent trading account with a genuine, regulated forex broker.

Coinflex Trading Withdrawal requirements

The lack of a publicly available Terms and Conditions or Client Agreement means that scammers may have set many traps such as hidden fees and impossible-to-meet  withdrawal terms.