COINEXX Exposed for Blocking Trader's Withdrawal Request

In online trading, choosing a reliable broker is one of the most important decisions a trader can make. Sadly, a growing number of traders are learning this the hard way after using Coinexx, an unregulated broker with a poor reputation and no official licence.

A recent complaint received by WikiFX, a global platform that checks broker credibility, tells the story of a trader who has been unable to withdraw his funds since last year. Despite sending multiple emails and providing all the requested information, Coinexx has not processed the withdrawal. The trader says the company only replies with generic emails that do not offer any real help.

https://www.wikifx.com/en/exposure/detail/202504163592302230.html

Unfortunately, this is not an isolated case. Another trader shared a grave complaint. After trying to withdraw $6,000 in profits, the trader says Coinexx deleted access to all of their trading accounts. They could no longer log in to MetaTrader 5 (MT5) and were met with an error message saying the accounts were invalid.

At first, Coinexx said they needed to verify the users information before processing the withdrawal. They later told the trader that the money would be received before the market closed that day. However, the next day, all access was gone. When the trader contacted support, they were told the accounts had been closed due to inactivity. This was something the trader strongly denied, as they had placed trades the day before.

Even more worrying, the trader was later told that their accounts had been “recycled” and that someone would contact them by email. As of now, there has been no follow-up, and the trader has lost both their deposit and their profits.

Coinexx is currently rated just 2.30 out of 10 on WikiFX, based on a detailed review by our research team (see the full review here: https://www.wikifx.com/en/dealer/2911424616.html). This low score reflects the fact that Coinexx is not licensed or regulated by any official authority, meaning it is not safe for trading.

When traders choose an unregulated broker, they put their money at serious risk. If something goes wrong, there are no laws or systems in place to protect them or help recover lost funds. As these complaints show, trading with unlicensed brokers like Coinexx can have painful consequences.

WikiFX strongly advises all traders to check a brokers regulatory status before opening an account or making a deposit. A good-looking website or high-leverage offer is not enough, as safety and trust must come first.

These real-life stories are a warning to all traders. Coinexx has shown a pattern of ignoring withdrawal requests, blocking accounts, and offering no real support.

WikiFX will continue to investigate and report on such cases to protect the trading community and promote safe and responsible trading.