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Cointradex

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Operating status: SCAM

Website: https://thecointradex.com/

Broker violations and abnormal records
  • 2023-06-04 BrokersView has reviewed that Cointradex is an unregulated broker

    Cointradex claims to be operated by Cointradex Ltd regulated by the Financial Conduct Authority (FCA). However, our search for this company in the FCA registry found no corresponding records. Therefore, what Cointradex claims about its regulatory status is a lie. This broker also claims to be a United States verified trading brokerage but we didn't find matching data in the National Futures Association (NFA) either.

    In essence, Cointradex is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

    Cointradex claims to be operated by Cointradex Ltd regulated by the Financial Conduct Authority (FCA). However, our search for this company in the FCA registry found no corresponding records. Therefore, what Cointradex claims about its regulatory status is a lie. This broker also claims to be a United States verified trading brokerage but we didn't find matching data in the National Futures Association (NFA) either.In essence, Cointradex is not regulated by any governing body. Entrusting this broker with investors' funds is highly risky, as there are no legal protections in place to safeguard the funds. It is unequivocally a scam.

Related Complaints

Q&A

What are the trading hours of the platform?

Ashutosh Nazare
Vietnam
2023-06-12
ANSWER Cointradex is an unlicensed broker that we advise against trading with despite the seemingly attractive deals it offers.Cointradex recently added information on its incorporation certificate supposedly issued by the Companies House (CH) to its homepage, saying its company name is Cointradex LTD with registration number 13699699. However, our search in the CH register discovered that the number belongs to another company and there isn't any concrete evidence to suggest their association. Such fraudulent behavior by Cointradex significantly undermines its reliability. Moreover, Cointradex claims to be regulated by the Financial Conduct Authority (FCA) and presents itself as a United States-verified trading brokerage. However, no corresponding records exist in the FCA registry and the National Futures Association (NFA). This means that Cointradex is operating outside the regulatory framework.Regarding your question, we strongly suggest you avoid dealing with Cointradex since it is an unregulated broker, coming with huge risks such as financial losses and identity theft. There are no rules in place to protect investors. As such, to avoid such risks, investors are encouraged to stay away from unlicensed brokers like Cointradex and opt for fully regulated ones.
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