Coin2FX Review: Don’t Risk Trading with This Firm

Coin2FX is a CFD and Forex broker without proper licenses and authorizations. As a UK-based brokerage, they’d have to get permission from FCA, the leading jurisdictional regulator. However, they decided to only lie about regulations in an attempt to bypass verifications and trading permits. 

FCA was quick to notice their illegal operation, which has earned Coin2FX a place among blacklisted online trading services providers. You can read more about it in our Coin2FX review. In the meantime, check out the public warning posted: 

Another two warnings by Spanish and Norwegian regulators followed:

• FCA warning:

• CNMV warning:

• Finanstilsynet warning: 

Additionally, we strongly advise you to avoid the fraudulent brokers Beurax, GMGroup, and FNPMarkets.

Coin2FX Reliability – License and Fund Security 

FCA is one of the most dominant regulators as far as setting standards goes. The companies inquiring for a license have to invest 730 000 GBP, to confirm their intentions of conducting a stable business. 

The above-average security measures are based on the segregation of clients’ funds through separate bank accounts. Brokerage handling your trades cannot gain access to your investment and misuse them, considering they’re separated from the firm’s own deposit. 

Restrictions on leverage are quite severe, and you can’t trade with leverage bigger than 1:30. Following negative balance protection, FCA-licensed brokers offer trading with far less risk exposure. 

Adding a compensation scheme, you can trade with a piece of mind, knowing that even if the broker fails, the Financial Ombudsman still protects your capital. 

Coin2FX follows none of the legal trading principles and shamelessly offers unrealistic conditions, including bonuses that are banned by the FCA. Combining that with zero transparency, we highly doubt Coin2FX reports its monetary movements and transactions in due time. 

Several other warnings are additional proof of this broker being nothing but a con artist in disguise. EEA licensing standards are somewhat similar to those in the UK. But since Coin2FX doesn’t abide by the FCA licensing rules, we can further conclude that they offer their questionable services to EEA traders too, without any permission.

Trading Platform Overview at Coin2FX

The laughably bad WordPress presentation didn’t provide much information about the trading software available. Several online ads suggest Coin2FX might be offering the ultimate digital trading solution – MT4. Alas, all the claims are futile when they’re unverifiable.  

The faulty Coin2FX website took forever to load and even then none of the pages worked. We were blocked from accessing the promised MT4 or any other software available. That unmistakably raises another question – does Coin2FX even have trading software, to begin with? 

Such a situation suggests you should stay away from the Coin2FX monkey business. Instead, choose a regulated broker that actually allows you to trade on the best platforms in the industry. The MT4, MT5 and cTrader’s richness in features and flexibility will make you never think about a shady broker like Coin2FX.

Coin2FX Trading Accounts 

Popular brokerage brands with millions of customers put utmost care and attention to detail in designing trading account types. Coin2FX doesn’t even concern themselves with explicitly showing what their single account type offers. 

There was a promise that we’d get to choose between several accounts (Silver, Gold, Platinum, and VIP) but they were nowhere to be found!

All the information available was practically useless. You can not decide where’s the option to open the account or which type you can choose it to be. 

Along with that, no minimum deposit amount is disclosed. Some basic trading conditions like spreads are reachable from the site, along with the trading instrument groups, but more on that later in this review.

Coin2FX Deposits and Withdrawals

Any information available on the single functional page of the website doesn’t suffice in terms of how to account funding is done. 

Coin2FX doesn’t clearly state which depositing methods they accept at all. The minimum deposit requirement is also a mystery. So much for the safe and ultra-fast depositing that Coin2FX originally promised.

Would you really feel like trusting a provider that omits such crucial elements of its policies? Absolutely not. Coin2FX not only lies but remains fully anonymous and as transparent as it can. 

Coin2FX Trading Instruments

It’s been established that Coin2FX doesn’t provide MT4. It remains a question if they have any trading software at all. However, they do advertise some tradable asset classes and spreads that start from 1 pip. The available instruments should be the following:

• Forex (EUR/USD, EUR/GBP, USD/JPY)
• CFDs on commodities (wheat, sugar, cotton)
• CFDs on shares (Facebook, Tesla, Apple)
• Crypto (BTC, ETH, LTC)
• Indices (Dow Jones, Nasdaq)

How is the Scam Performed?

The way things are right now for Coin2FX, we highly doubt they’d have the capacity to defraud anyone. Their defective website, elusive software and several warnings don’t make them an attractive place for investing. However, it’s our duty to warn you about the amount of risk and danger these scammers impose. 

Firstly, be sure that everything that seems too good to be true is most likely a lie. Scam agents will pressure you through different channels (phone, email, messages, etc) until you start investing. The deceptive trading software is carefully altered to leave an impression of successful trading, which doesn’t factually happen.

When the time for withdrawals comes is when you start facing first difficulties. Swindlers will attempt to keep their influence over you by demanding additional payments. Made-up taxes, fees, and charges of all kinds are there to divert your withdrawal attempts. 

There are other, even more, devious ways. Trading volume requirement is one of them. Coin2FX asks for a turnover of 200 before allowing you any refunds. Not even a greatest Forex genius could perform this unrealistic trading expectation.  

Coin2FX Summary

Many shady and extremely concerning elements envelop the image of Coin2FX. Through our Coin2FX review, we’ve tried to warn our audience of the most disturbing ones among them. 

Including the disappearing software, confusing website, and several public warnings, Coin2FX is no joke. Their motivation is the greed that drives them towards easy money gain through cyber theft. 

This broker is a good example of why no offer is valid or lucrative without a trading permit. A broker can seem as attractive and reliable as they can, but being blacklisted makes all their efforts worthless. 

FAQs About Coin2FX Broker