I don’t understand what kind of education you think you’re providing this thread.
It’s strange how you veer off topic and go into these rants, for what exactly?
yes, that broker
1 Like
I started looking into them, but if I remember correctly, spreads for NAS100 were not competitive. Other than that, they looked good on the surface (nice website, good support etc.).
1 Like
ok thanks… considering our current dwindling options, I will add them to the mix.
1 Like
Looks like a non-starter. Website says “Number One Capital Markets Limited does not accept clients from Turkey, United States, and Europe.”
Maybe invoke the “didn’t find them via website” technique? Wording seems off - solicit vs accept
From N1CM’s FAQ page:
Q: Do you accept U.S. and Canadian clients?
A: We allow U.S. and Canadian clients to trade with us on the condition that their deposits and withdrawals are made using cryptocurrencies only.
1 Like
Haha…sweeeet
I totally missed that they were added to this list - Post#1
I have the proof I was waiting for them to finish processing my withdrawal to post the videos and screenshot on here, FPA etc.
You won’t believe what the technical team replied:
They can actually lie and say the ask price is not show on the mt5 chart, that the trader cannot see the ask price(I thought I was dreaming even) either some incompetent person is the “technical team” or there is none. The video I sent the price line was the ask line even, not the bid line as default. So no one actually reviewed of investigated what I sent. How do they not even know how spread is calculated that’s like chapter 1 baby pips.
The problem is if the “hidden spread” is 3-7points on every order means the coinexx spread is actually 5-9 pips.
I had an account with coinexx in Feb 2022 everything was fine then moved to Hanko Oct 2022 (cause better terms), came back December 9 after mt5 shutdown.
Deposited small amount to coinexx Dec 19 cause I didn’t know when the mt5 hammer would drop.
When I switched the past month there was no hidden spread this started Jan 19th. Max slippage before was maybe 1-2 points, slightly more at market open 3points but this consistently never happened
Here’s the results of this past week from Jan 22 to Jan 26 I set up all the trades have stop loss of 10pips/points so if they don’t close -$10 and below that’s the slip. This is London session so market is not volatile and its $1per point (1 lot on coinexx but 0.1 lot everywhere else). I just kept testing to see if the hidden spread will go away. So they are mostly losses
Here’s video of hidden spread in action. The price line you see is the ask line cause bid price is candle body:
You can see I open order 1pip slippage(not bad) I close order was -$3 but becomes -$6 the ask line never even hits the ask price shown. So that’s a 3point slip happening on all trades
Here’s video of pending order not executing at price cause again hidden spread.
Here’s Screenshot of all the trades for the week look at where SL price is and where price actually closes you’ll see all the hidden spread better. All SL are 10points away but all close 13-17points.(i.e. $13- $17 instead of $10-11)
I’m here to just share my experience to help, could coinexx fix it sure but means they can do this anytime also. Maybe hidden spread switches on after an account is 30days old. Who knows. It’s just so scummy.
3 Likes
Exactly the experience I described before.
And today I experienced again the same thing.
Two trades EURUSD, at very low volume (1 and 0.5 lots), before 7 am London time.
One of them executed with 1.6 slippage and another with 1.4 slippage.
I know it was before 8 am London time but no decent broker has problems to fill 1 and 0.5 lots.
1.4 and 1.6 slippage is totally unacceptable for such low volume, despite the hour.
This time I have all recorded in video. I have emailed Coinexx and I’m waiting for an explanation. Depending on what I get back I will update here (or I’m done with them).
1 Like
Coinexx is trying to generate more revenue with hidden spreads.
Their swap is all negative, which doesn’t make sense, swap should be long positive short negative, maybe sometimes both negative but for them, all of their currencies have negative value for long and short, that’s a clear a bucket shop, i won’t trust them
The swaps are unfortunate, but I won’t hammer them for it.
Swap shouldn’t be a reason not to trust a broker because a swap isn’t 100%. The brokers usually take half or more of any positive swap before see it on your platform, and the same goes for negative swaps. You are paying more for the negative swap since the broker marks it up, brokers use this trick to make a little profit.
2 Likes
I’m not gonna hammer them for it, but we are here to pick which broker is more honest than the rest, which one more prioritize profit than honesty, those little things might be a big red flags, but that just me
You can go with a broker who gives you a positive swap, but are they giving you the full positive swap? Either way, follow your gut and do your research.
Coinexx came back to me with bla bla bla that liquidity can be low during some periods and that news can afect slippage, etc.
They didn’t bother to analyse that all my trades were done during quiet times and my volumes were ridiculous like 1 and 0.5 lots.
And I have now definitive evidence of intentional malpractice from Coinexx. I used 0.01 lot in EURUSD and could see 1.3 pips slippage in opening and 0.5 in closing. All recorded in video in very quiet time.
In the meantime Coinexx portal is unavailable since yesterday. Support says that this was flagged to backoffice but it’s taking a bit to fix it. No deposits or withdraws possible without acceding it.
Maybe it’s nothing but all happens at the same time. Too many bad signs. I’m already prepared to lose all the funds there. I hope I’m proven wrong.
1 Like
Would be curious if you guys are also seeing consistent slippage during NY session, or if this only occurs during slower sessions.
I’ll try to do the same later today during RTH of US markets
1 Like
A major issue, I have just checked my doormat account and can’t login. If this problem is ever fixed, I suggest you guys do a withdrawal to see how it goes
1 Like
After Finpro & Turnkey… my trust level with Coinexx has plummeted, I fully expect another rug pull exit scam from their owner(s) @ some point in the future.
3 Likes
I’m able to login, would like to hear any feedback on withdrawals
1 Like