Koinfx Trade is a forex broker whose domain name was registered on March 10, 2024. It primarily offers financial derivative trading services such as forex, stocks, indices, energy, metals, and ETF contracts for difference (CFDs) to investors. The broker does not provide services to jurisdictions where it may violate local laws or regulations.
Registration Information and Regulatory Status:
Public information on the Koinfx Trade official website shows that the broker has multiple corporate entities under its belt, regulated by various authorities. Among them, Koinfx Trade Ltd is authorized and licensed by the Cyprus Securities and Exchange Commission (CySEC), with a license number of 1780019. Koinfx Trade (registration number HRB11677B) serves as a designated agent in Germany for Ultra Booster Trade Ltd, registered with the Federal Financial Supervisory Authority (BaFin), and has been authorized as an investment dealer by the Mauritius Financial Services Commission (FSC) on October 2, 2017, regulated under license number C17554381. TVH Ltd is authorized and regulated by the Seychelles Financial Services Authority (FSA), with license number SD0175.
However, upon verification of its public information on the official website, the Cyprus Securities and Exchange Commission (CySEC), the Federal Financial Supervisory Authority (BaFin), the Mauritius Financial Services Commission (FSC), and the Seychelles Financial Services Authority (FSA) have not found any regulatory registration information regarding this broker.
Opening an Account:
To open an account with Koinfx Trade: Visit the broker's official website, click on “SIGN UP FOR FREE” on the homepage or “SIGN UP” at the top right corner of the page to access the registration page. Fill in personal information such as name and email address, set a login password, and submit. Once the application is submitted, the account can be successfully registered.
Account Types:
Koinfx Trade offers a demo trading account and four different types of trading accounts: STARTER, BASIC, PRO, EXECUTIVE. However, its official website does not disclose related information such as spreads, trading leverage, margin for calls/stops, contract sizes, trading commissions, minimum/maximum trading volumes, maximum positions/orders, and minimum price precision.
Trading Platform:
Koinfx Trade provides users with a proprietary trading platform.
Deposits and Withdrawals:
Koinfx Trade supports deposits and withdrawals through local banks, electronic wallets, or cryptocurrencies.
Summary:
Traderknows reminds investors that Koinfx Trade is a scam platform providing false regulatory information. The website design and content of this broker are identical to those of Sterling Asset, FS Main, Venus Mining, Upfront Fx Trade, Safe Invest Trades, Reliable Bitcoin Mining, and other brokers. Traderknows advises investors to choose brokers with transparent information, strong regulation, and good reputation for investment activities to avoid unnecessary financial losses.
Currently, this broker is marked as "suspected fraud" on Traderknows.
