Below is a detailed analysis of FXCoinex (official website: http://www.fxcoinex.com/) based on the requested criteria, using available information and critical evaluation. The analysis covers online complaints, risk level, website security, WHOIS data, IP and hosting, social media presence, red flags, regulatory status, user precautions, and potential brand confusion.

1. Online Complaint Information ¶

Complaints and User Feedback:
Multiple sources report significant complaints about FXCoinex, particularly regarding withdrawal issues. Users have reported being unable to withdraw funds, with some claiming the broker demanded additional deposits to release profits, violating initial agreements. For example, a review on Forex Peace Army states, “I deposited funds as agreed, then when I made profits I was told I could not get it until I made further deposits which were against the initial agreement.”
Another user on Scamadviser reported, “I have made totally sixteen requests for withdrawals and got none of the sixteen times!”
Complaints also highlight FXCoinex as a potential Ponzi scheme, with investors losing money and no clear recourse.
These consistent complaints across platforms indicate a pattern of unreliability and potential fraudulent behavior.
Nature of Complaints:
Non-delivery of promised withdrawals.
Lack of transparency in fund management.
Unresponsive customer support, leaving investors unable to resolve issues.

2. Risk Level Assessment ¶

Scamadviser Trust Score:
FXCoinex received a trust score of 70/100 from Scamadviser, indicating a medium to low risk. However, the algorithm-based score relies on public data (WHOIS, IP, hosting) and does not guarantee legitimacy. Scamadviser explicitly advises users to conduct manual checks due to the absence of definitive proof of safety.
High-Risk Indicators:
The website is hosted in a high-risk country, as identified by the International Banking Federation, which associates such locations with elevated fraud and corruption risks.
Numerous user complaints about financial losses and withdrawal issues elevate the perceived risk.
Promises of guaranteed returns (e.g., “30% every 15 days” or “up to 300% earnings”) are unrealistic in legitimate trading and are hallmark red flags of scams.
Overall Risk Level:
High Risk: The combination of withdrawal issues, lack of regulatory oversight, and unrealistic promises suggests FXCoinex poses a significant risk to investors. The medium trust score from Scamadviser is overshadowed by user experiences and other red flags.

3. Website Security Tools ¶

SSL Certificate:
FXCoinex has a valid SSL certificate, which encrypts communication between the user’s browser and the website. This is a basic security measure, but even scammers often use free SSL certificates (e.g., Let’s Encrypt) to appear legitimate.
Security Software:
There is no evidence that FXCoinex employs advanced security measures like DDoS protection or robust encryption beyond the basic SSL certificate. One review explicitly notes the lack of “SSL and DDoS encryption software,” raising concerns about vulnerability to hacking or data breaches.
Website Design and Functionality:
Reviews describe the website as “cheaply designed” and lacking optimization for search engines, which is atypical for professional brokers. Poor design and functionality can indicate a lack of investment in long-term legitimacy.
Security Assessment:
The presence of an SSL certificate is a minimum standard, but the absence of additional security measures and poor website quality suggest inadequate protection for user data and funds.

4. WHOIS Lookup ¶

Domain Information:
Domain Name: fxcoinex.com
Creation Date: September 16, 2019
Registrar: PDR Ltd. d/b/a PublicDomainRegistry.com
Expiry Date: September 16, 2020 (as per older data; likely renewed since the site is still active in 2025)
Name Servers: ns1020.deepafrica.com, ns1021.deepafrica.com
Domain Status: clientTransferProhibited
Analysis:
The domain is relatively young (created in 2019), which is a potential red flag for financial platforms claiming long-term operations. FXCoinex claims to have been founded in 2016, but the domain registration contradicts this, suggesting dishonesty about the company’s history.
The registrar, PublicDomainRegistry, is commonly used but not exclusive to legitimate businesses, so it neither confirms nor refutes legitimacy.
The use of name servers associated with “deepafrica.com” suggests hosting in a region that may not align with the claimed Singapore-based operation, raising questions about transparency.

5. IP and Hosting Analysis ¶

Hosting Location:
The website is hosted in a “high-risk country” per Scamadviser, which aligns with regions identified by the International Banking Federation as having high fraud and corruption risks.
Specific IP and hosting provider details are not fully disclosed in the provided data, but the high-risk country designation is a significant concern.
Hosting Implications:
Hosting in a high-risk jurisdiction can indicate an attempt to operate outside stringent regulatory oversight, a common tactic for fraudulent platforms.
Legitimate brokers typically use reputable hosting providers in regulated jurisdictions (e.g., the US, UK, or EU) to ensure reliability and compliance.

Social Media Activity:
There is no specific information in the provided data about FXCoinex’s social media presence (e.g., Twitter/X, Facebook, LinkedIn). This is unusual for a legitimate broker, as most maintain active social media accounts to engage with clients and build trust.
The absence of verifiable social media profiles could indicate a lack of transparency or an attempt to avoid scrutiny.
Red Flags:
Scam brokers often use social media to target naive investors with exaggerated claims. If FXCoinex has social media accounts, they should be scrutinized for unrealistic promises or fake testimonials.
The lack of a visible social media footprint may suggest the broker avoids platforms where negative feedback could be easily shared.

7. Red Flags and Potential Risk Indicators ¶

Unrealistic Promises:
FXCoinex promises “guaranteed profits” from Bitcoin mining and trading, including returns of “30% every 15 days” or “up to 300%.” These claims are unrealistic, as all investments carry risk, and such guarantees are hallmarks of scams.
False Company Affiliations:
FXCoinex claims to be owned by Global Services Plus Pte Limited, a Singapore-registered company. However, investigations reveal no affiliation with this entity, indicating the broker is lying about its ownership to appear legitimate.
Lack of Transparency:
No clear information is provided about minimum deposits, fund management, or banking details, which is unusual for legitimate brokers.
The website lacks performance or managerial reports, further reducing transparency.
Misleading Platform Claims:
FXCoinex claims to offer trading platforms like MetaTrader 4, MetaTrader 5, NinjaTrader, and cTrader, but there is no evidence to support these claims. This misrepresentation is a common tactic to attract investors.
Unregulated Status:
The broker is not regulated by any recognized financial authority (see Regulatory Status below), increasing the risk of fraud.
Fake Testimonials:
FXCoinex reportedly uses fake testimonials from “happy investors” to lure new clients, a tactic to mask its fraudulent nature.
Website Age Discrepancy:
The claim of being operational since 2016 is contradicted by the 2019 domain registration, indicating dishonesty.

8. Website Content Analysis ¶

Content Quality:
The website is described as “cheaply designed” and not optimized for search engines, suggesting a lack of professional investment.
Claims of offering “the most liquid order book in the world” and “customizable trading interfaces” lack substantiation and appear exaggerated.
Misleading Claims:
Promises of guaranteed returns, high leverage (up to 3.3x), and offline cold storage for coin security are not backed by evidence and align with scam tactics.
The website emphasizes privacy through “concealing cryptocurrencies” and “currency exchanges,” which could be a pretext for hiding illicit activities.
Lack of Clarity:
Key details, such as minimum deposit requirements, trading conditions, and account management processes, are not disclosed, which is atypical for legitimate brokers.

9. Regulatory Status ¶

Regulatory Oversight:
FXCoinex is unregulated. There is no evidence of licensing or oversight by reputable financial authorities such as the Financial Conduct Authority (FCA), Commodity Futures Trading Commission (CFTC), or Monetary Authority of Singapore (MAS).
Legitimate brokers are required to be regulated to access public funds and provide regulatory certificates to build trust. FXCoinex’s lack of regulation is a major red flag.
False Claims:
The broker uses another company’s registration documents to falsely claim legitimacy, further undermining its credibility.
Comparison to Regulated Brokers:
Regulated brokers like FXTM or City Index provide verifiable license numbers, risk disclaimers, and transparent operations, none of which are present with FXCoinex.

10. User Precautions ¶

To protect against potential risks associated with FXCoinex, users should:

Avoid Investment: Given the high risk, unregulated status, and numerous complaints, do not invest with FXCoinex.
Verify Regulation: Only trade with brokers regulated by reputable authorities (e.g., FCA, CFTC, ASIC). Check license numbers directly with the regulator.
Research Reviews: Read impartial reviews on platforms like Forex Peace Army or WikiFX to understand user experiences.
Test Withdrawals: If already invested, attempt small withdrawals to test the broker’s reliability. Report issues to the CFTC or SEC if funds are withheld.
Protect Personal Data: Avoid sharing sensitive information (e.g., ID documents) with unregulated brokers to prevent identity theft.
Report Fraud: If defrauded, contact the CFTC (866-366-2382) or file a complaint with the SEC.
Use Trusted Platforms: Opt for brokers with established reputations, transparent terms, and industry-standard platforms like MetaTrader.

11. Potential Brand Confusion ¶

Similar Names:
FXCoinex may be confused with other brokers or platforms with similar names, such as CoinEx (a regulated crypto exchange), Coinexx (a crypto and forex broker), or FXCess. These platforms have distinct operations and regulatory statuses:
CoinEx: Regulated by the Money Services Business in the USA, offering a wide range of crypto trading options.
Coinexx: Unregulated but operational for over seven years, accepting crypto deposits. It has mixed reviews but no direct link to FXCoinex’s complaints.
FXCess: Unregulated, with concerns about cloned licenses and withdrawal issues, but not explicitly linked to FXCoinex.
Risk of Confusion:
FXCoinex may exploit similar branding to mislead users into associating it with more reputable platforms. For example, the name “FXCoinex” resembles “CoinEx,” potentially causing users to trust it mistakenly.
The presence of another entity, FXCOINEX-TRADE (fxcoinex-trade.com), claiming similar crypto investment services, further complicates brand clarity and suggests possible copycat scams.
Mitigation:
Users must verify the exact website (http://www.fxcoinex.com/) and avoid platforms with similar names unless their regulatory status and reputation are confirmed.

12. Critical Evaluation of Establishment Narrative ¶

The sources consistently highlight FXCoinex’s lack of transparency, regulatory oversight, and credible operations. While Scamadviser’s trust score of 70/100 suggests moderate legitimacy, this is an automated metric that does not account for user complaints or the broker’s unregulated status.
The narrative of FXCoinex as a legitimate broker is undermined by its false claims (e.g., affiliation with Global Services Plus, 2016 founding date) and user experiences of financial loss.
The broader context of forex and crypto scams, as outlined by the SEC and CFTC, aligns with FXCoinex’s tactics, such as promising guaranteed returns and using fake testimonials.
Critical scrutiny reveals that FXCoinex’s operations fit the profile of a fraudulent scheme, exploiting the lack of regulation in crypto and forex markets to target unsuspecting investors.

Conclusion ¶

FXCoinex (http://www.fxcoinex.com/) is a high-risk, unregulated broker with significant red flags indicating potential fraud. Key findings include:

Complaints: Numerous reports of withdrawal issues and financial losses.
Risk Level: High, due to unregulated status, hosting in a high-risk country, and unrealistic promises.
Security: Basic SSL certificate but no advanced protections; poorly designed website.
WHOIS: Domain created in 2019, contradicting claims of a 2016 founding.
Hosting: High-risk country, raising concerns about oversight.
Social Media: No verifiable presence, limiting transparency.
Red Flags: False affiliations, fake testimonials, and lack of transparency.
Regulation: Unregulated, with no credible licensing.
Brand Confusion: Potential confusion with CoinEx, Coinexx, or FXCess. Recommendation: Avoid FXCoinex entirely. Users should prioritize regulated brokers with verifiable licenses, transparent operations, and positive user feedback. If already invested, attempt to recover funds through regulatory bodies or legal consultation, and report any fraud to the CFTC or SEC.

Note: This analysis is based on available data as of April 25, 2025, and critical evaluation of sources. Always conduct independent research before engaging with any financial platform. If you need further assistance or specific actions (e.g., filing a complaint), let me know!

AI risk analysis - FXCoinex (2025-04-29 17:35:41)