Are you a victim of CoinX Scam? File your Complaint here!
Fraudbrokers Team has investigated the reasons why CoinX broker can be a scam. There are different types of trading methods currently popular in the financial market. Forex trading, Binary Options Trading, Cryptocurrency trading, and more. Traders rely on the brokers to perform trading in these markets and in return expect fair trading. But in reality, some of the brokers are not genuine and they scam traders and take away their hard-earned money. Therefore every trader has to be careful about the possibility of a broker being a scam and should investigate before investing with financial brokers.
Reasons of CoinX being a scam broker
Fraudbrokers Team has listed CoinX as a scam broker through CoinX Review because there have been a number of complaints against the scam CoinX broker and the following can be the activities responsible for the broker being called to be a scam broker.
- CoinX broker has promised unbelievable returns to the traders which are far above the standards in the industry.
- The broker has discouraged traders to withdraw their money and has imposed restrictions.
- The broker has illegitimate Terms and conditions related to the Bonus offered and it is a way to victimize traders. The Bonus withdrawal terms are very hard and are mostly hidden to the traders when any scam is involved.
- The broker is an offshore broker which is based in countries where regulation is minimum. For example- St. Vincent and the Grenadines and others. Most of the brokers based in these offshore countries are suspected to be scams.
- The broker is not regulated in the countries it is in operation. For example, the broker is not regulated by ASIC in Australia, FCA in the UK, and others. The broker may be regulated in some offshore countries and operating in other countries without regulation.
- The broker suddenly stopped its operations and also closed its website leaving traders scammed losing their investments overnight. The broker leaves no way to contact or does not receive the phone calls.
- The CoinX broker forces the traders to invest more and more money. The broker’s managers also offer to trade on behalf of the traders which is very risky.
What to do if you are scammed!
Fraudbrokers is one of the most popular and trusted Fund recovery help services. With this CoinX Review, we want to warn traders of a possible scam. If you are victimized by CoinX, file your complaint with Fraudbrokers Team. We will guide you to the best recovery process and help in getting back your lost money with the scam broker. Don’t worry, recovery from scams is possible!