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Coin FXC which is operated from coinfxc.com is a fraudulent website purporting to offer legitimate financial services.
For that reason (among others), we could not find any justifiable means of recommending the services of either websites or including them on this page for traders to pick them.
Coin FXC’s website claims that they’re incorporated as Forex Exchange Cash (CoinFXC) Limited.
But this company does not exist anywhere. They lie to feign legitimacy. And the more they mislead traders, the more it works against them.
Moreover, the website of Coin FXC is providing a USA physical address but pointing to a Canadian physical address in their Google map.
The same physical address is shared with Cfxglobalcoin.com, which is also another scam site.
Both websites appear to be owned by the same person, hence the use of identical templates and copy-pasting of information.
What does Coin FXC offer?
Coinfxc.com purport to offer brokerages services where individuals can access the financial markets and trade.
It is not clear what financial instruments they’re offering for trading.
The only thing they talk about on their sales page is how Coin FXC will provide tight spreads, instant execution, high leverage of up to 1:1000 (abnormal), free education, demo account and a dedicated account manager.
The supposed broker is also providing different levels of ‘privileges’ in their 3 account types.
The 3 account types are Learn, Trade and Invest.
In the first account, coinfxc.com claims to provide learning materials and a dedicated account manager.
In the second account type, Coin FXC claims to provide ‘high-tech’ Forex trading tools in a secure environment.
In their third account, they advertise a copy trading program while also claiming that traders will benefit from having full control of their investment account.
Also, it’s not clear whether Coin FXC truly provides a demo account for trading.
The website consists of information which is unverifiable.
Reasons why Coin FXC is a scam broker
They lie about their regulatory status.
For instance, they claim to be regulated by CySEC yet this is not true because a background check does not yield any results.
Furthermore, their US physical address is a dead giveaway.
How can a ‘US broker’ like CoinFXC seek the authorization of CySEC while United State’s very own Commodity Futures Trading Commission is the main oversight authority in the country, and even with more stringent rules than CySEC?
The broker is also hustling traders of $300 as minimum deposit.
This money must be paid in 3 major Cryptocurrency formats.
I find it rather suspicious because mainstream brokers with a reputable track record tend to accommodate a wide variety of payment methods, including ones that are succeptible to chargebacks.
Only scammers are now insisting on Cryptocurrency payments but the risk might not be worth it.
What does Cfxglobalcoin.com offer?
CFX Global Coin is the other rogue website operated by the anonymous owners of Coin FXC.
The website of CFX Global Coin is a copy-paste of CoinFXC.
The only difference is that CFX Global Coin is more of a HYIP platform than a broker.
The minimum deposit that CFX Global Coin wants is $500, and they claim to pay out a 25% ROI in 3 days.
This is of course too good to be true. HYIPs are generally a scam, and so is the case with CFX Global coin.
The fraud site is also mentioning that they are regulated by CYSEC.
I wonder since when did CYSEC regulate HYIPs which are categorized as a form of scam that pay ROIs based on new member deposits.
Also, CFX Global Coin was registered in June 2020 while its counterpart was created in the following month.
Both websites use stock photos to conceal owners
The real owners of these two websites are anonymous.
The finding is a dead giveaway of their true intentions, which is to scam investors rather than helping them create more money.
The anonymous owner is banking on the fact that when they have two websites, they can increase their chances of scamming investors.
A quick background check on the traffic details of both websites reveal that they don’t receive any traffic.
So this scammer may be in for a surprise because it appears even Google is beginning to penalize these kind of platforms that provide illegitimate financial services.
Worth noting is the fact that both sites are even using stock photos to introduce their “owners”.
The ‘testimonial’ section is also littered with stock photos, which is a very embarrassing thing to discover.
If these brokers were legitimate, they would be having enough customers to speak on their behalf.
Coinfxc.com is a scam that will steal your $300 worth of Cryptocurrency.
On the other hand, cfxglobalcoin.com is the pyramid scheme version of Coin FXC.
They are not regulated and neither are they incorporated as a LTD company.
The purported owners are not living in the US either.
To the scammer, this is fun but to the investor, this is disheartening.
Stay away from these two ‘brokers’.