Hello @ForExchange , these are good points. However, I have an alternate view to both the points raised by you (I will be happy to be proved wrong)
First: Server time of coinexx is GMT +3 , and that is actually what it technically is the ideal time. Please take a look at this thread from babypips that talks about market open and close times
You will see that if the server time is GMT +3 during (March/April – October/November based on DST), is makes the charts data ideal as the trading starts at exactly midnight and chart data covers full cycle of 24 hours. This is especially an issue during market open and charts data on Monday and Friday.
Server’s time zone’s can be changed at will, and it is not uncommon for servers in russia to have time zone set up as EST. SO in a way that is no indication of where the server is ldeally located.
Second: they dont give out too much information about themselves. In a way that is common for all crypto based businesses, because of all the witch hunt that goes on around them. If you look at, for example, evolve.markets there is nothing that you can make out about their actual operating office or any other details. This is again for the same reason and does not raise any eyebrows for anyone who is trading with them.
For the record, I have been an absolute supporter for Finpro trading for all of last year, but coinexx changes that completely. I will be testing and slowly moving my funds to coinexx and will keep sharing my experience with them. If they are really as good as I feel from the first look of it, I think they will come across as an absolute winner in offhsore forex business.
Obviously, you can never be 100% sure. For example, I had an account with MF Global in 2008 and I know first hand that all the CTFC, or SIPC gimmic of protecting wealth or retail clients is just a sham that dosent really get you anything back. Very recently, one of my friend has an account with beaufort securties and here is a link on what is happening to them
So even though we all know that CFTC and SIPC is a scam like none other, we also know that they are constantly on a witch hunt against all offshore forex brokers. For example Tallinex
here is a link on what happened to tallinex
Given all this information, and given my experience in trading forex both with onshore and offshore brokers, I clearly see coinexx doing things exactly as it should be done. A crypto only broker is most likely to survive longer and independent of banking instution interference (see the posts above on Capital City Markets and based on what we learnt, the only ones to suffer were its clients who did not get the money back). And as a crypto only broker, they have much less costs and can pass on that benifit to us as clients (which I clearly see in their spreads)
See the link below from MyFXBook where I have compared spreads of some of our Top brokers
What remains to be seen is how efficient they are and how quicly they process their withdrawals and how honestly they process our executions. We dont have many people so far who have shared any real trading experience with them and we will know it over the course of time.
I hope my information helps, atleast to give some food for thought.