Is Coinex Trading Platform Legit? [Unbiased 2022 Review]

Coinex Trading Platform is an online cryptocurrency exchange company that claims to help investors manage their crypto assets.

Cryptocurrency trading has become a profitable venture that everyone wants to jump into as a means to earning a passive income. However, you should be careful before trading due to the unpredictability involved.

Blockchain technology, the underlying mechanism, has helped create an unregulated healthy environment for cryptocurrencies. However, the market is rife with scammers.

To ascertain that Coinex TP is not a fraud, I did some research and this is what I managed to unearth.

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Table of Contents

What Is Coinex trading platform

According to their official website, Coinex Trading Platform was founded by like-minded professional traders who saw an opportunity in the market and wanted to have a cryptocurrency exchange.

I should mention that you should not confuse “Coinex Trading Platform” or “Coinex TP”(which we are reviewing here) and “Coinex.” They are two separate entities. Here is the Coinex TP website whose address is coinex-tp.com:

And here is the Coinex website whose address is coinex.com:

Coinex TP claim that they are a UK-based entity whose primary goal is to collaborate with other analytic agencies to get valuable data on future investment possibilities. They further claim that they have an impressive success rate on exchange deals such that nine out of ten deals are winners.

Back in 2017, Bitcoin and other cryptocurrencies rose exponentially, which led to the popularization of the crypto trading you see today. Nowadays there are numerous cryptos in the market, including Ethereum, Litecoin, Dogecoin, and Ripple among others.

Making money on the side is a sound financial decision and investing in digital assets is one way of achieving that. I searched the internet and found hundreds of companies offering digital currency exchanges among them, the Coinex TP. Others that are similar include Bitcoin Frontiers and Crypto Coin Sniper.

Coinex TP positions itself as a transparent business in cryptocurrency trading. They also maintain that the company has a legal license per the European laws and is a member of the Enterprise Ethereum Alliance.

The company’s webpage interface is user-friendly and easy to navigate but still lacks some critical information. Additionally, there is a demo video available upon clicking on their website giving an account of what Coinex TP is all about.

Let’s dive into some of the benefits of joining Coinex trade platform ltd as a potential user around the world.

Coinex Trading Platform Products

Coinex TP specializes in a wide range of cryptocurrency exchanges with diversified trading pairs where they trade on behalf of users around the world for a fee known as trading fees. They also engage in perpetual contracts, mining, and margin trading.

Coinex TP users are also encouraged to recruit other users and open accounts to earn a certain % commission via the affiliates’ remuneration program. This marketing strategy is beneficial to both the company and the user. The company gets free publicity while the users earn some extra cash. We shall discuss the various levels an investor can achieve later in this review.

In case you are keen on investing in Coinex TP, you are required to create a personal account and invest any amount starting with $10. There are several packages to chose from that suit any type of customer’s needs.

Users with any complaints or issues they want addressed can do so via the email provided. However, the customer support telephone number is currently available.

Due to the risky and volatile nature of the crypto exchanges markets, the company has an insurance cover and a reserve fund in case of unforeseeable circumstances like the 2008 financial crush that temporarily halted entire economies in countries globally.

Who is behind Coinex Trading Platform?

The CEO, Paul Morris, claims that he ventured into financial markets for over 10 years, as a freelancer, earning a fortune in the process. He and his colleagues started this company in 2019 and registered the domain name privately in July the same year.

The problem is that there is little information you can find online about Paul. This is problematic because you’d want to know whom you are entrusting with your money. This is a red flag.

Investment Packages

Coinex TP generally accepts clients with any amount from $10 to invest in one of their 8 plan packages. The profit line increase with the duration a client chooses to invest and the funds raised. Below is a breakdown of these packages and their corresponding returns:

Plan 1

Invest $10 or more and receive 120% after 1 day

Plan 2

Invest $10 or more and receive 210% after 5 days

Plan 3

Invest $10 or more and receive 800% after 30 days

Plan 4

Invest $10 or more and receive 2,300% after 90 days

Plan 5

Invest $10 or more and receive 4,600% after 180 days

Plan 6

Invest $10 or more and receive 10,000 % after 360 days

Plan 7

Invest $10 or more and receive 15,500 % after 540 days

Plan 8

Invest $10 or more and receive 24,000 % after 720 days

If you invest for example $10,000 on plan 7, you stand to make $230,000 profit on the initial capital.

How Coinex Trading Platform Works

To open a free Coinex exchange account, go to the “private client section” and fill in your personal information which only takes a few minutes to complete.

Once you have registered, an email will be sent to confirm that it your account has been set up successfully. The email contains details like your password and username. Don’t share this information with anybody for security reasons.

Thereafter, you can load up your account with any of the cryptocurrencies accepted to get access to the investment plan of your choice. Your account balance will reflect a new balance.

To get started choose one of the 6 investment packages offered. Then the team of experts will evaluate the market and trade on your behalf.

Once your investment period lapses, profits are accredited to your account directly and you can withdraw that anytime (processing time is one day or less).

Affiliate Remuneration Program

You can enroll other people to the program and the platform gives you tools to achieve this. Normally, the methodology used by most representatives to attract new customers is publishing financial material on social networks, blogs, and business forums online.

I think recruiting new investors is the main focus of this program. By inviting investors to the platform, you receive a percentage as commission on the deposit they make.

This is how it works:

Level 1- $5000 – $10,000 earn 1% from investment amount of your affiliate
Level 2-$10,001 – $50,000 earn 3% from investment amount of your affiliate
Level 3-$50,001 – $100,000 earn 5% from investment amount of your affiliate
Level 4- $100,001 – $500,000 earn 7% from investment amount of your affiliate
Level 5 -$500,001 – $1,000,000 earn 10% from investment amount of your affiliate

Also, you can earn more from the referral program by unlocking 3 other levels which they call the Coinex smart chain campaign.

On Level 1, a representative receives 10% of the deposits made by every investor they attract. Level 2 is achieved when new investors brought in by representatives invite new investors. These are called second-level investors. Here, the representative receives 7% of deposits. 3rd level investors automatically draw in a 7% commission on deposits to their representatives.

Insurance and Reserve Fund

The risks involved in crypto spot trading are many and are often influenced by uncontrollable factors. Earlier, I mentioned that Coinex TP has insurance and a reserve fund to mitigate unforeseen bad situations. Unfortunately, they don’t show us how the insurance works which has me doubting whether it is legit.

I am not going to speculate on why they lack this important information to support these claims but this should serve as a scam warning.

Mode of payment accepted

Firstly, you are required to have an account on one of the popular electronic payment systems such as bitcoin to deposit on the site. If you have an existing working account for cryptocurrencies namely Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, DASH, Litecoin, Dogecoin, Payeer, and Perfect Money, you can make withdrawals and deposits at any time.

Payments on transactions made are processed twice every day while withdrawals are processed within 24 hours. There is however a disclaimer stating that there may be delays while processing these transactions. The minimum withdrawable amount is $0.10. The maximum is unlimited.

Is Coinex Trading Platform Legit?

Coinex Trading Platform is NOT legit. From the research I conducted, I found a few things about Coinex TP that suggest that it is not what it claims to be.

First, Coinex TP claims to trade in the cryptocurrency exchange market and that it has been doing so for over 2 years. This is a false claim because the platform does not engage in any investment.

Second, Coinex TP’s official webpage lacks important information like the professional credentials of their team(portfolios), contact information, and how it trades. Thirdly, accreditation documentation is also missing to show whether they operate in compliance with European laws as they claim. The site is also riddled with numerous spelling mistakes indicating that the site lacks professionalism.

Customer Reviews

I read online comments from past global users and found some damning negative reviews. Some Coinex users experienced problems when making deposits or withdrawals and others lost their investment under unclear circumstances.

This should act as a warning for people who want to start trading and are in search of a crypto trading online platform. A few customers around the world were content with their services with claims of earning a stable income from Coinex TP but these can always be paid-for reviews.

Coinex Trading Platform Verdict

Coinex TP is a mixed bag of surprises based on the customer reviews I was able to access. Coinex is speculating that external factors will not affect projected returns on investments made, a statement that is false.

It is worth mentioning that it’s very unethical for any company in this market to assure investors of steady daily returns. Generally, these statements are designed to dupe people into joining.

Scammers have come up with inventive new ways of conning unsuspecting people out of their money in this industry. Since crypto exchanges are in demand, different exchanges are finding new ways of targeting gullible investors.

On the other hand, there are other exchanges such as Coinbase that investors should turn to for genuine services. The bottom line is that you should always be skeptical if an online company promises returns in the market while running a referral program.

Ultimately, trading in cryptos has its benefits and disadvantages too so only trade with the best exchanges to minimize the risk of losing money in the future.

Before you leave

If you’re tired of scams and want a real solution for making money online check out my no.1 recommendation.

It’s helped me earn over $300,000 in the last 12 months alone:

Go here to see my no.1 recommendation for making money online

(This is a 100% free training)

David Fortune

David Fortune has been the editor NoBSIMReviews.com since 2019. He is an expert at writing content on stock advisory services, side hustles, reviewing online business opportunities and many more topics. You can learn more about David on our about us page.

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