Coinmercefx Review: All About Coinmercefx.Com
The forex exchange markets are unfortunately saturated with lots of bogus brokerage firms pretending to be legit businesses. In today’s article, we are going to discuss one of the scam brokers, Coinmercefx.
The Coinmercefx broker is part of the Coinmercefx Group along with several other companies, including Coinmercefx Securities, Coinmercefx Crypto, and Coinmercfx Technologies. Regardless of how much this might sound prominent, it is meaningless in terms of online financial trading, and here is why.
First, Coinmercfx is not authorized to render brokerage services anywhere, especially not in the USA, as it states that it is based there. Then, it misleads traders that they can trade on its advanced trading platforms. Lastly, considering the previous two facts, it can’t be trusted. Please continue reading our Coinmercfx review to find out all about Coinmercfx.com.
Additionally, you should avoid trading with dishonest brokers such as Bullexo, Deuxstock, and Revolut Expert.
|Minimum Deposit||0 USD|
|Broker Type||Forex provider|
Coinmercefx Regulation and Security
The most essential information about every broker is knowing its country of registration and regulations. The former determines jurisdictions and the law a broker falls under. The latter identifies a financial market regulator that approves and controls a broker. This info should always be fully transparent and easily available.
When it comes to Coinmercefx, we have discovered that it is an anonymous and unlicensed brokerage firm. This means that it isn’t registered in the US as it claims. Even if it is, it remains unauthorized since doesn’t have accreditations from US financial authorities (NFA, CFTC, SEC). All of this indicates that Coinmercefx is an untrustworthy and illegal broker that can be involved in fraudulent trading activities without consequences.
If you want to trade safely, you need to choose legitimate companies; for total funds’ protection, go with those licensed under tier-one financial supervisory bodies, such as FCA, ASIC, and BaFin.
Coinmercefx Trading Platform Overview
As we have already mentioned that Coinmercefx deceives people with empty promises of providing state-of-the-art trading platforms, i.e., MetaTrader 4 (MT4) and MetaTrader 5 (MT5).
Although these two programs are indeed one of the best on the market, they are not available at Coinmercefx. Anyhow, whatever trading software this unscrupulous broker offers, it is for fraudulent purposes.
Therefore, we advise staying away from Coinmercefx and opting for credible companies that really have cutting-edge programs (MT4, MT5, cTrader, and Sirix).
Coinmercefx Trading Instrument
Apropos of trading instruments available at Coinmercefx, without having a functional trading platform, its offer is useless. Anyway, let’s see what tradable assets are allegedly possible to buy/sell here.
- Stocks: Microsoft, Tesla, Apple.
- Crypto: Bitcoin, Litecoin, Tether.
- Futures: S&P futures, gold futures, crude oil futures.
- ETFs: ProShares Ultra QQQ, iShares U.S. Technology ETF, Vanguard Growth Index Fund.
- Mutual funds: Rydex NASDAQ-100 2x Strategy Fund, ProFunds UltraNASDAQ-100 Fund, Fidelity Advisor Semiconductors Fund.
- Bonds: U.S. Treasury, Corporate, and Municipal Bonds.
- Options: S&P 500 Mini SPX Options, NYSE Hong Kong Options.
No matter how its offer seems appealing, don’t forget that Coinmercefx is an illicit broker taking advantage of people’s interest in online trading.
Coinmercefx Offers Bonuses and Promotions
You should know that bonuses and promotions are not allowed in many jurisdictions (especially not in the US) due to being used in manipulating traders.
Although Coinmercefx doesn’t reveal information about current promotions, we are sure that it will offer bonuses at some point since fraudulent brokers change their malicious tactics all the time.
Keep in mind that rewards come with unrealistic preconditions that must be met to claim them. Likewise, they can’t be withdrawn. In general, they are used to entice traders.
Deposit and Withdrawal Procedure
Concerning payment methods accepted by Coinmercefx, this fraudster supports only crypto wallets for deposits and withdrawals.
If it weren’t a pure online trading scam, that wouldn’t be an issue. However, in this case, it raises a red flag. If wonder why, it is simply because crypto payments are the preferred choice of fraudsters due to being difficult to track and reverse.
Unlike Coinmercefx, you can transfer to and from accounts with a reputable online financial trading company via secure and convenient means of payment such as bank transfers, credit cards, and electronic wallets. All of these funding methods are reversible, and that is why this financial swindler doesn’t support them.
Furthermore, Coinmercefx reportedly requires 0 USD for the minimum deposit, which would be great if it were a genuine business. However, it is just one of the dirty tricks employed by this fraudulent broker.
In addition, this dishonest scam broker doesn’t give any info about withdrawal fees and turnaround time. Anyhow, since it is cyber fraud, we are skeptical that payoffs are even possible at Coinmercefx.
How Do Fraudulent Offshore Brokers Operate?
Regarding the Coinmercefx scam, it deceitfully poses as a legitimate firm to instill people’s trust, attracting them with baseless statements and falsehoods, such as already mentioned the provision of leading-edge platforms and most popular trading products.
Likewise, this con artist presents itself as a US-based business and a part of a large enterprise incorporating several businesses.
All of this is a part of an investment scam to lure you into investing. Once you deposit money to an untraceable and anonymous crypto wallet, you won’t be allowed to make withdrawals. Also, this hoaxer will insist on more investments and will demand hefty fees to let you draw funds out.
Finally, if you are defrauded by this or any other broker scam, you should notify relevant authorities immediately. As well, don’t forget to leave negative Coinmercefx reviews on the web to alert others. As for getting your money back, you can contact our cyber security experts to assist you with cashback.
Best Forex Trading Brokers
Why have withdrawal issues and headaches with shady brokerage firms, when you can trade with peace of mind with the following companies? Take a look at our list of leading forex brokers with a proven track record of delivering excellent services based on transparency, reliability, and the latest technology.
These trading corporations are transparent about their trading conditions, which are beneficial and ensure profitable trading. Also, they can be trusted because are licensed and regulated by premium financial supervisory agencies (FCA, CySEC, ASIC).
Last but not least, each of them offers modern trading platforms (MT4, MT5, cTrader, Sirix, and proprietary mobile trading apps). You will be satisfied with any of them.
|FXTM Broker||Cyprus, UK, Mauritius||4.5||$10||Forextime.Com|
|OctaFX Broker||Cyprus, SVG||4.4||$100||OctaFX.Com|
|FP Markets Broker||Australia, Cyprus||4.7||$100||FpMarkets.Com|
|XM Broker||Cyprus, Belize, Australia||4.7||$5||XM.Com|
|HFM HF Markets Broker||Cyprus, UK, South Africa, UAE, Kenya||4.3||$5||HFM.Com|
|FBS Broker||Cyprus, Belize, Marshall Islands||4.85||$100||FBS.Com|
To recap our Coinmercefx broker review with key findings. This allegedly US-based company is not authorized to legally operate in this market or any other markets.
Being unlicensed and fabricating information automatically puts this phony broker on a list of extremely risky brokerage firms.
It is just a matter of time before this bogus company becomes blacklisted. Therefore, avoid Coinmercefx by all means.
FAQs About Coinmercefx Broker
Does Coinmercefx Offer a Demo Account?
No, it doesn’t, which is so typical of scam brokers.
What is the Minimum Deposit for Coinmercefx?
Allegedly, it has no deposits at Coinmerecfx. But, don’t count on this since it is just one of its malicious tactics.
It is Is Coinmercefx Regulated?
No, it isn’t; it operates illegally and anonymously.