why don’t you talk to there live chat
1 Like
You can trade commodities with coinexx, and stock market indices, but not individual stocks.
1 Like
Was not able to act on my trade (close, stop loss, take profit)
Multiple times I was not able to control and maneuver my trade. I had clear evidence showing that I was not able to (close my trade, put a stop loss, or a take profit
They manipulate their system so mt4 platform freezes you have to wait and your account will go in the negative because you can’t close it and they will not refund. Hugo sells your entry and stop loss to the banks just like every other broker.
Manipulative broker to the maximum. occasionally on 3 separate pairs, it breached data and manipulated my trade hit my SL. I didn’t catch on what was going on until I compared live market data with other brokers. I lost $2500 on two accounts with them
Hugosway is a scam Broker and have seen that has random gaps. They are preying on US residents to steal their money. Somebody must report them to the FSA in Seychelles where they are registered.
I think you’d need a lot of evidence, specifically eliminating any connectivity (network) issues between yourself running the desktop MT4 platform, in order to substantiate those claims. Does MT4 report a loss of connectivity in the journal log file? MT4 has been around “forever” and is certainly debugged. Does the Price feed freeze? Do Orders hang? Just what are you saying, and what does Hugosway technical support say about your claims? [EDIT: I assume you are talking about a Live account, and not Demo? What type of account, the Devil is in the details…]
Anybody else use Hugosway and agree with these claims?
hyperscalper
The most forex brokerage services have significantly changed the minimum account trading leverage and spread levels for us citizens. If you are a us citizen there are chances you can open account with such international brokers not registered by us regulatory bodies nfa cftc. Forex brokers based outside the us and not registered with the nfa are not allowed to accept us citizen as customers.
You have embarrassed yourself with that post.
Before you post here again, read this thread and become informed about the issues facing U.S. traders, and the opportunities available to them offshore.
5 Likes
I am learning/testing out Coinexx and learning Cryptos at the same time.
Using Gemini, I made a $500 transfer of Gemini USD to Coinexx. By time it arrived in my account, the value was $496.44.
I believe this currency is supposed to be pegged to a 1:1 USD ratio and the Gemini website is listed as having no fees Gemini USD when withdrawn and sent. Could anyone enlighten me to what would cause the 0.8% loss from point A to point B?
I’ve also opened a coinexx support ticket, but just wanted to see if anyone else could provide insight?
Thank You
EDIT* I just noticed in an email from them after the deposit was confirmed saying
“Your Conversion rate for this transaction is 0.9929”
No where on their website is any sort of fees listed for depositing such as this. I still feel like Coinexx is one of the least sophisticated broker websites I’ve tested so far. Very lacking in actual necessary written information available. Also the security seems subpar.
Not thrilled so far.
I would like to know about this also.
On another note I’d like to thank Clint and everyone else for this thread. I have just funded a Gemini account and after demo’ing all of the possible brokers for a few months I am going to go with Coinexx. After comparing commissions and spreads on the same trades I just kept going back to Coinexx.
Thanks everybody!
I have the same concerns as you about their website and security. I am going to fund my account with a lower amount than I usually would. We’ll see how it goes.
Generally speaking, conversion of fiat/crypto may not be subject to fees, especially if doing so on an exchange. However, to transfer crypto from one wallet to another requires miners to confirm the transfer, which will take on a fee. Some cryptocurrencies are much faster/easier to transfer and will incur smaller fees.
A few days ago,I had a small amount transfer from Gemini to coinexx using Gemini USD , the conversion rate was 1.0086. And I received more money than what I sent out.
I wonder why the varying conversion rate. Wish Coinexx actually had some literature as to why this is on their website. The GeminiUSD is supposed to be stable 1:1 so I have not the slightest clue as for why there is a varying conversion rate.
I do know I looked up the ethereum transaction and there was a small $0,09 transaction fee charge which is totally fine. Just concerned with the 0.8% fee I got hit with basically when depositing.
Regarding GUSD and other fiat-tethered cryptocurrency, these alt coins are pegged to whatever fiat that they represent. The values fluctuate, just like any other currency, but based on my understanding, in the case of tethered alt coins, efforts are maintained to stabilize the value so that it correlates with its fiat counterpart, but supply/demand can cause the valuations to widen, just like any other currency. This has nothing to do with Coinexx.
If you are paying a fee for depositing cryptocurrency into your brokerage account, then you should contact your broker. Most brokers do not and should not charge a fee for this.
FXBrew has caught my attention. Demo account conditions are near perfection. I like their spreads, commissions and stop levels. Did I mention 500:1 leverage? They state no fees for deposits or withdrawals utilizing wire transfer. Since experience teaches that when something is too good to be true, it most probably is!
Has anyone actually funded a live account and preferably made some withdrawals as well, have any insight they can share with everyone? Thanks to anyone that may reply!
look good but not enough info on fxbrew, also i notice this is your first post, hmmm
This is my first post on any forum since I was scalping Nasdaq stocks, and that forum was Elite Traders, although I did use a different user name. Know I know how politicians feel, with people like you around. Look, I am just looking for any feedback on FXBrew. Thank you for your input, but your hmmmm sarcasm is not needed or appreciated. I am a retired old geezer with time on his hands and bored when I am not trading. Bring it on. Again, I appreciate any feedback from anyone, but no sarcasm, please, I am too old for that crap.
4 Likes
A few weeks back I had a web chat with FXBrew with someone named Phil. I can’t remember much of the context of the conversation, but I do remember ending the chat thinking they seem like a good possibility. Three days later Phil reached out to me with an email with instructions on how to sign up. They are KYC not like coinexx. Until I’m ready to diversify brokers, I’m just sticking with coinexx. However, I will definitely look more into them once I’m looking for more brokers.
1 Like
your 1st post pushing a broker is never good, but i also understand your point of view so let us know your experience with fxbrew when you sign up with them keep us inform
Thanks pterodactyl2! I also have talked with Phil, and I just verified my account. The next step is to wire money to their bank located in the UK. I still can not identify the owner, just my account managers name, phil spector. I have been with an Australian broker that I loved trading with, but they asked me to leave end of last year as I am in the usa. So I am actively looking for a new broker, was torn between Coinexx and Turnkey, but both involve Crypto, which I have yet to learn much about. The trading conditions are almost identical to my previous broker, with much lower commissions. If FXBrew is legitimate, they look very good. I have been trading forex for around ten years, and I am among the 20 percent that are profitable. If I should pull the trigger and risk a few hundred dollars I will post about my experience here, but I hate to waste time if they intend to play games when it comes to withdraw. That part is always a little nerve racking! Never can relax until the coin is where it belongs.
SmallPaull, no problem, and thank you for your reply, and I do understand your reaction, but I am certainly not pushing these people! That was a misunderstanding on your part. I am simply too old too waste time and money on some lame broker. Coinexx and Turnkey are Crypto. Where else can I go with the same conditions as Coinexx and use a bank wire transfer? Please let me know. Very interested in that broker. Ps, Turnkey is lower leverage than Coinexx and still Crypto. Thank you for your input.
1 Like