Coinexab Review – Haphazard and Disorganized Tryhard of a Crypto Scam

Piecing together this Coinexab review was somewhat difficult. The platform is so unknown and seamlessly operating under the radar that we could hardly dig up any dirt on them. Naturally, the website owners have omitted all and any info on the parent company, leadership team and legal docs. That way, Coinexab can easily claim one thing, then not provide it and then blatantly lie and deny anything they’ve ever revealed. 

Unfortunately for all honest crypto investors and retail traders, scams and unlicensed platforms like Coinexab, PowerTrade and many others will always exist. The interest in digital currencies is only growing. So the number of scammers will continue to constantly rise as well. Our Coinexab review brings attention to one fraudster that shouldn’t be overlooked if you’re planning to invest in digital coins.

What Is Coinexab?

Coinexab is a newly registered crypto currency trading and exchange website with unknown location, origin and ownership. The platform itself is very new to the market – it’s only been a few months since they’ve entered the world of crypto exchange.

The sham is constructed in such a way that it only benefits the scammer itself. Users are buying digital currencies and exchanging them for another. Most of the coins are traded against the USDT value. Website supposedly supports over 600 digital currencies for buying and selling. 

However, the extremely mediocre look of the layout doesn’t instigate trust or motivation to invest here. Keep reading this Coinexab review to learn the details we found on this cheap scam project.

What We Discovered About Coinexab

The crypto market is extremely volatile and every service provider needs to be strictly regulated as a confirmation of their competitiveness to offer these services. Coinexab doesn’t present a single line or claim on their website that speaks in favor of their credibility. Their unresolved legal status had us puzzled, so we did some research and established that FCA, BaFin, CySEC, ASIC and CNMV can’t provide any info on Coinexab.

Not only does the site not appear on any of the known lists of regulated exchange platforms, but whoever runs the site is silent about it, as well. This has further convinced us that Coinexab is no legal financial services provider.

The existence of a Tier 1 license would make Coinexab a reputable crypto trader. It would mean the company provides top security measures, reduced investment risks and warranty for compensation and withdrawal of profit. Just like PrimusFX that we’ve previously discussed about, Coinexab doesn’t own a Tier 1 license by any leading regulator.

We couldn’t muster the reason why Coinexab named their website Coinex. A completely separate, yet also fraudulent and blacklisted crypto exchange Coinex also exists besides the one we’re reviewing.  

Where Is Coinexab Trading Scam Active?

There’s no place on this wide planet where crypto exchange isn’t popular. More and more investors are learning about it as a way of possible fast profit. But the dangers lurking in these muddy waters come in the form of fake platforms, just like Coinexab is. 

Perhaps new and less experienced, the site has still managed to reach a huge number of people worldwide. So far, we’ve discovered that the biggest number of victims has appeared in the following countries:

• United States
• Myanmar (Burma) 
• Italy

Coinexab Available Software

Completely fake and non-functional software at Coinexab is unresponsive to external commands. The graphic representation of the price movement hardly makes any sense and we suspect it to be purely artificial. We won’t even try to compare this fake terminal with the advanced stand-alone platforms like MT4, MT5 and cTrader.

The only available functions the software accepts are the Long and Short options. Naturally, since Demo trading isn’t available, we couldn’t test these features as we didn’t have real funds added to our trading account. That’s as far as trading goes. 

Another function of the software is to allow the exchange between the currencies. Here, we were appalled by the abysmal amounts of commission required for exchanging, plus the handling fee of 0.1%.

Telegram App Instead of Transparent Communication

Coinexab won’t just allow you to chat them up or make a direct call to the customer support. If you’ve expected a service provider that diligently tends to their users’ needs, you’re in for an unpleasant surprise. 

Being as anonymous as they are, Coinexab remains tightlipped about their whereabouts and true location. Besides that, the incognito website owner won’t even share an email or a phone number you could reach them through. 

One single method of communicating with Coinexab is through the Telegram app. Because of the particular settings and data encryption characterizing this channel, Coinexab ensures anonymity and full privacy of the information shared through it.  

Is Profit Withdrawal Possible?

We wouldn’t, for a second, believe payouts are indeed processed fair and square by this swindler. With their dull, shallow and buggy website, Coinexab doesn’t seem credible even at a glance. 

Investments concerning the crypto niche are already shaky and jeopardized enough. You don’t need to additionally increase the risks of losing your entire life-savings by choosing an unregulated exchange. 

Because we couldn’t find a single legal document or policy, we can’t even determine what is the processing time or fees following the withdrawals. In such a hazardous environment, you can expect unreasonable conditions and fees to appear out of the blue. 

Without any prior notice, Coinexab may ask you for more money and investing to cover all kinds of ridiculous costs. And for what reason? Only to eventually stall on with the payout and then completely deny it without even providing a valid reason for such action. 

What Should I Do If I Have Been Scammed by Coinexab?

We’d like to have an immediate comfort ready for all the scam victims out there. But recovering from a fraud takes time and effort. What we can make sure of is that we land you a listening ear and legal help that you require. 

By contacting us promptly we can guarantee you a chance to actually restore what was stolen from you. Consulting us is completely free. You don’t have to worry about fees and paying with us. We’re here if you need advice and professional help in recovering your lost funds. 

You can contribute to our goal of repressing the ever – growing threat called scam brokers. If you’d share with us your knowledge and precious experience, we’d be able to warn more trades and retail investors before they jump into risky investments that seem too good to be true.