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Coinexx Merger With FinPro Trading?

  • #21
  • Jan 24, 2019 8:39pm Jan 24, 2019 8:39pm
Quoting MurphyMan
I also posted this on FPA. I just completed a large (for me) transaction with coinexx.com and thought I’d pass along my experience........
- Greetings sir, I have a few questions about btc, I hope you have the time to reply me:-

1. Which wallet do you use?

2. Which websites/books do you use to learn about btc?

3. When do you feel comfortable about using btc? (after a week of studying, a month ....etc.)

+ Have a good weekend.
  • #22
  • Mar 19, 2019 10:38am Mar 19, 2019 10:38am
Is everyone here using Coinexx getting your Daily account statements?

I know of several traders who are not - that is not a good sign.
  • #23
  • Mar 19, 2019 4:04pm Mar 19, 2019 4:04pm
Quoting COGnizant
Is everyone here using Coinexx getting your Daily account statements? I know of several traders who are not - that is not a good sign.
I never have received dailies with CX, didn't think much of it. Have been with them for a while, they are legit. Positive reviews everywhere.....
  • #24
  • Mar 20, 2019 1:37pm Mar 20, 2019 1:37pm
Quoting Pipfu
{quote} I never have received dailies with CX, didn't think much of it. Have been with them for a while, they are legit. Positive reviews everywhere.....
FinPro sent Daily statements like clockwork...which is massively important to have an "offical record" of your daily activities. Now since the Coinexx merger and their moving to St. Vincent all the trends in the business conduct are degrading...this is a very bad sign. I have traded the markets for 15 years and when I see these patterns I bail from the broker!
  • #25
  • Mar 20, 2019 4:30pm Mar 20, 2019 4:30pm
Quoting COGnizant
{quote} FinPro sent Daily statements like clockwork...which is massively important to have an "offical record" of your daily activities. Now since the Coinexx merger and their moving to St. Vincent all the trends in the business conduct are degrading...this is a very bad sign. I have traded the markets for 15 years and when I see these patterns I bail from the broker!
Look into turnkey forex. Same trading conditions with daily statements e-mailed daily. Never fails.
  • #26
  • Mar 21, 2019 8:21am Mar 21, 2019 8:21am
Quoting Pipfu
{quote} Look into turnkey forex. Same trading conditions with daily statements e-mailed daily. Never fails.
Turnkey was FinPro Trading...they are gone with the takeover by Coinexx.

...and still no Daily statements getting sent out to this day after numerous direct requests. This is a very bad sign.
  • #27
  • Mar 31, 2019 5:33am Mar 31, 2019 5:33am
hey Cog ,

initially you were quite in favor of Coinexx

but you look like you're becoming a bit suspicious about them as of now

what made you change your mind ?
  • #28
  • Mar 31, 2019 11:02am Mar 31, 2019 11:02am
Quoting MXT
hey Cog , initially you were quite in favor of Coinexx but you look like you're becoming a bit suspicious about them as of now what made you change your mind ?
When I stop seeing my Daily statements over a range of FX accounts (for a month now) and they ONLY allow crypto funding/withdrawals...I know those are warning signs. Brokers who have to go "crypto" only are losing their relationship with their depository banking...that is really bad. Just ask the guys at Tallinex how that works! As the banking relationship degrades the bank will frequently FREEZE all the brokers funds on hand and the client gets the shaft. It is absolutely a warning sign when many clients are no longer getting their Daily statements from any broker.

I have traded large accounts since the late 90s and I have seen it all my years of trading. There are typical patterns that start to take place when brokers are losing control of their financial situation or they are conducting improper activities with client funds. I'm starting to see those first patterns with Coinexx and that is just sad.
  • #29
  • Mar 31, 2019 1:01pm Mar 31, 2019 1:01pm
Quoting COGnizant
{quote} When I stop seeing my Daily statements over a range of FX accounts (for a month now) and they ONLY allow crypto funding/withdrawals...I know those are warning signs. Brokers who have to go "crypto" only are losing their relationship with their depository banking...that is really bad. Just ask the guys at Tallinex how that works! As the banking relationship degrades the bank will frequently FREEZE all the brokers funds on hand and the client gets the shaft. It is absolutely a warning sign when many clients are no longer getting their Daily...
CX has always used crypto for transferring funds with clients, It's their angle. I have no idea if they're losing control of their financial control or relationship with their banking partners (so not actually arguing against your position) but consider this:
By holding and transferring client funds via crypto, they are making it impossible for a bank to seize client funds. A government could step in and do it of course, but there is actually an added layer of safety. Just something to think about.
  • #30
  • Mar 31, 2019 1:03pm Mar 31, 2019 1:03pm
Quoting COGnizant
{quote} Turnkey was FinPro Trading...they are gone with the takeover by Coinexx. ...and still no Daily statements getting sent out to this day after numerous direct requests. This is a very bad sign.
Still there, still receiving daily statements / withdrawals without fail. And fiat is still a withdrawal option.
  • #31
  • Apr 1, 2019 9:49am Apr 1, 2019 9:49am
Quoting Pipfu
{quote} CX has always used crypto for transferring funds with clients, It's their angle. I have no idea if they're losing control of their financial control or relationship with their banking partners (so not actually arguing against your position) but consider this: By holding and transferring client funds via crypto, they are making it impossible for a bank to seize client funds. A government could step in and do it of course, but there is actually an added layer of safety. Just something to think about.
One more time - FINPRO TRADING was acquired by coinexx. FinPro Trading OFFERED bank wires like a normal FX broker AND always sent Daily statements. BOTH of those items have disappeared since the coinexx merger/takeover.


BOTTOM LINE - No Daily statements sent from a supposed profession FX firm is a warning sing! ;-)
  • #32
  • Apr 23, 2019 11:06am Apr 23, 2019 11:06am
Does this have anything to do with Finpro Trading losing its Belize license a few months ago?
  • #33
  • Apr 23, 2019 8:54pm Apr 23, 2019 8:54pm
Quoting mlawson71
Does this have anything to do with Finpro Trading losing its Belize license a few months ago?
they have not renewed their forex broker licenses.
  • #34
  • Apr 24, 2019 11:50am Apr 24, 2019 11:50am
Quoting PoundTrader
{quote}they have not renewed their forex broker licenses.
Don't they have any kind of license now?
  • #35
  • Apr 24, 2019 2:11pm Apr 24, 2019 2:11pm
They got a special scam license issued by the government of Ripoffstan
  • #36
  • Apr 25, 2019 12:19am Apr 25, 2019 12:19am
Quoting mlawson71
{quote} Don't they have any kind of license now?
no they no longer offer broker service
  • #37
  • Apr 25, 2019 11:41am Apr 25, 2019 11:41am
Quoting PoundTrader
{quote} no they no longer offer broker service
Oh, I see! Thank you for the clarification!
  • #38
  • May 1, 2019 6:08am May 1, 2019 6:08am
- If anyone knows more about those two articles, please tell us:-

https://coinexx.org/

https://www.forexbrokerz.com/reviews/do-not-use-coinexx
  • #39
  • May 11, 2019 1:21pm May 11, 2019 1:21pm
Quoting MXT
hopefully you're right man thing is , having money parked in a broker or just a PO BOX far far away in the Seychelles or the Caribbeans with no regulation whatsoever or very limited regulation and no transparency at all , isn't the safest place on earth or your nearest bank account why don't they publish their address and phone on their website to begin with ? do they fear phone calls or deliveries from ESMA over there ?
Every particular the brokers from these areas are fake.
  • #40
  • May 11, 2019 2:20pm May 11, 2019 2:20pm
Quoting salimc
{quote} Every particular the brokers from these areas are fake.
i hear you man

i didn't like the no address-no phone business card from the beginning

i'm not against offshore brokers per se provided they represent a workable and viable solution for a Trader looking to escape the esma limitations

but as you say there are certain areas of the world that just don't sound good for a broker to operate from , even more so when they don't bother to publish basic info about them
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