CoinCoreX Review – Misleading Traders To Get Hold On Their Cryptos

First, the CoinCoreX broker claims to be operated by COINCORE LTD, which is registered in the UK. Instead of doing business related to finances, this company is registered for other accommodation services.

With this in mind, it’s clear they start the business with misleading information. Luckily, there are many other signs to avoid this broker that we’ll reveal in this CoinCoreX review.

Broker status:	Unregulated broker
Regulated by:	No regulations
Operating Status:	Active Forex and CFD Trading Scam
Known Websites:	https://coincorex.com/
Blacklisted by:	BaFin
Owner:	Coincore LTD
Headquarters Country:	UK (allegedly)
Foundation Year:	2023
Online Trading Platforms:	WebTrader
Mobile Trading:	No, only via browser
Minimum Deposit:	$5.000
Deposit Bonus:	N/A
CFD Trading Option:	Yes
Crypto Asset Trading:	Yes  – BNB, ETH, XRP
Available Trading Instruments:	Cryptos, commodities, forex, commodities, shares
Maximum Leverage:	1:200
Islamic Account:	Not available
Free Demo Account:	Not available
Accepts US clients:	US clients are not accepted
Global Fraud Protection Experts’ Verdict:	After a warning from BaFin, it’s understandable this company can’t be trusted. But if you trust them with some money for some reason, contact our refund team immediately to start the recovery of your funds.

Is CoinCoreX Legit or A Scam?

With any UK-based brokerage, it’s quite easy to determine whether they are legit. In those cases, traders just have to check the FCA database to find out the truth. As expected, with too many lies, this firm couldn’t be licensed by the FCA at all. Neither are they licensed by any other top-tier regulator worldwide.

Instead, they appear on a warning list of German BaFin. That’s a clear sign that nothing this broker advertises can be truly trusted, especially not the CoinCoreX reviews.

Traders Experience

If you look at the company’s reviews on Trustpilot, you might even think they are a legitimate firm. With more than 70% of satisfied clients, it’s quite easy to believe them. However, we all know those reviews could be fake. Same as the negative ones, to be fair. Yet, with negative reviews, you can truly feel the frustration, and those reviews usually make sense.

You can’t expect unregulated and anonymous brokers to offer legitimate services. If you have funds stuck with this broker, reach out to our refund experts for advice, especially if you were also a client of Geetle or HeyForex brokers.

How Does CoinCoreX Work?

With an insanely high minimum deposit requirement for its basic account, it’s clear the company’s targets are client deposits. But everything starts way earlier. The company will primarily advertise some free features like auto-trading bots. Once traders sign up, of course, they will be told software can’t work without money, and they will need to deposit something. In most cases, that’s $250.

The crucial moment is when traders see their results on a platform. If they trust them, they will be easily persuaded to deposit more money. But once they learn all the tricks from this CoinCoreX review, they will know it’s all fake. If you are a victim of such an investment scam, contact us immediately for refund assistance.

Who Are CoinCoreX Victims?

Without adequate regulations, the company might target any country it wants. After all, their goal is to rip off traders wherever they are. That’s why we are not surprised the CoinCoreX broker mainly targets:

• Germany
• Austria
• United Kingdom
• Netherlands

Regardless of your residence, we encourage you to share your experience in the comments below. In case you want to apply for a refund as soon as possible, get in touch via live chat.

What Are Trading Platforms Available?

Understandably, with scam brokers, we can’t expect trusted trading software. Instead of MT5 or cTrader, they give us only poorly designed web-trader.

It’s especially suspicious if you have seen numerous other trading firms offering exactly the same option. All in all, the only thing you can expect from such software is manipulation.

Is the CoinCoreX Mobile Trading App Available?

If the CoinCoreX Forex company was any close to legit, it would at least try to offer trusted mobile apps. Instead, it presents us with its webtrader being optimized for all mobile devices. Surely, with all of the misleading details, we are expected to trust it.

What Financial Instruments Does The Platform Include?

Tradeable instruments are not even worth mentioning with CoinCoreX trading firm. After all, all the details about them are completely false, and traders can only get trapped.

Anyway, the options are:

• Forex – USD/NOK, EUR/JPY
• CFDs – FTSE100, IBM natural gas
• Cryptos – BTC, LTC

Account Types Offered by CoinCoreX

Even though the company’s minimum deposit requirement appears to be $5.000, they might accept anything above $250. Be sure scam brokers won’t lose clients over that. In any case, all account type options they will present you later are:

• Basic – $5.000
• Bronze – $25.000
• Silver – $50.000
• Gold – $75.000
• Platinum – $100.000

Can a Trader Use a CoinCoreX Demo Account?

Unfortunately, once you complete the CoinCoreX login process, you won’t have an option for a demo account. You can explore what the platform offers, but testing its features is impossible unless you deposit some money.

CoinCoreX Fees, Leverage, and Commission

A clear sign the company can’t be registered in the UK is its leverage of up to 1:200. Thus, the FCA has limited all legitimate brokers to offering a maximum of 1:30 to retail customers.

On top of this problem, none of the CoinCoreX account-type options reveal other trading costs, such as spreads, commissions, or fees. Therefore, traders can expect a lot of manipulation around them.

Is the CoinCoreX Welcome Bonus Available?

Of course, bonus packages are common with scam brokers. With this one as well, if traders accept any bonuses, they will need to reach a certain minimum trading volume to withdraw any bonuses or profits generated with them—to be precise, 30 times the bonus amount plus the deposit. That’s almost impossible, and that’s exactly the key.

Is CoinCoreX Withdrawal Possible?

Withdrawals from scam brokers are usually impossible to achieve. Considering the lack of licenses, warning from BaFin, and shady bonus policy, you can forget about withdrawals with the CoinCoreX scam broker.

Don’t be surprised if they give you non-sense excuses like verification issuers or non-existent fees you have to pay to extend the withdrawal processing time.

What Should I Do If I Have CoinCoreX Problem?

In most cases, traders can experience the biggest issues when it comes to withdrawals. That’s not something you couldn’t expect with this firm. Since they are absolutely anonymous and operate without regulations, there’s one thing you can do.

That’s to apply for a refund. Whether you were sending money via card, wire transfer, or crypto, there’s a solution. Book a free first consultation with our refund experts and find out what the options are.