CapitalCoinX Review: Capitalcoinx.com Askew Forex Scam

CapitalCoinX (Capitalcoinx.com) is another rude CFDs and Cryptocurrency scam to hit the trading world. Capital Coin Exchange is professing to be a platform where investors can invest in Bitcoin trading and Crypto mining. With a clear target in mind, these unregulated scam artists have decided to steal from Crypto enthusiasts. We feel it is our duty to inform traders on the risk involved. Read this genuine and honest CAPITALCOINX Review.

CapitalCoinX Review

Once you open an account with Capital Coin X, don’t expect any miracle to happen. These scam artists are simply taking away funds and blocking accounts of members. You will also be bombarded with telephone calls from their inexperienced account managers. From our detailed investigation, we have learned that these account managers are hired call agents. Calls you receive are not from professionals but hired goons who demand members to deposit more funds.

And this is why we have to expose this rotten scam to help Crypto investors stay safe. The market has credible and dependable Cryptocurrency trading robots you can use. Crypto enthusiasts don’t have to rely on such bane websites to trade with digital currency. Instead, you can check out recommended and top rated Cryptocurrency trading robots for a safe trading experience. We have to show traders some of the tricks used by this platform to steal from unsuspecting investors.

About CapitalCoinX

According to their about us page, they claim Direct Coin Ltd is the company behind this website. Furthermore, the statement claims that the company is located in London, UK. Readers should be aware that scam artists who target European investors will use false location details. And this is evident with CapitalCoinX. They have used fake location details to try and fool European investors. The tricks don’t end there; this website is full of anonymity making it a risky venture.

A look at the domain register whois.net reveals some damning information. According to the domain register, the website is not two years old. And this means CapitalCoinX has been targeting investors for a while. The company register in UK does not have a company licensed and registered under the name Direct Coin Ltd. It is from this conclusion that we firmly believe Capital Coin Exchange is a rogue online trading platform. No transparent trading activity goes on behind the website.

Is CapitalCoinX licensed or registered?

The platform fails to have any formal recognition from the UK official regulatory body. Without a valid license and registration from the Financial Conduct Authority, this is an unregulated entity. A true platform should post copies of their license documents for all to see. These scam artists have decided to fool investors by posting a random registration number. The number posted at the footer of their homepage, 09622118 is not related to Forex registration number.

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And this is where we draw the line as an unlicensed and unregistered entity will put funds at risk. Once you deposit funds with Capital Coin X, you should know that the platform does not segregate accounts. Furthermore, CapitalCoinX is not adhering to set industry regulations pertaining depository insurance. Every platform must deposit a sum to the regulator to act as insurance for deposits made. What’s to stop Capital Coin X from deciding to close shop once they had their fill?

Features of CapitalCoinX

Account Types

CapitalCoinX is furnishing users with four different account types to choose from. The accounts listed include Micro, Standard, Premium, and VIP. Trading products differ with each account as the two basic accounts limit users to Forex and Indices. No telephone trading is witnessed with the two foremost accounts and no commission either. Commission is set for Premium and VIP account holders.

Deposit and Withdrawal

Some of the depository channels listed includes Advcash, MasterCard, PayPal, Perfect Money, and Visa. Ensure you read the full deposit policy under their deposit and withdrawal page. Some of the information we saw was not pleasing. It seems the platform is shielding itself from any blame when it comes to depositing. Withdrawing time is listed as within 2 to 5 business days which is a bit long. These are some of the tell signs we are dealing with a rogue online platform.

Trading Platform

CapitalCoinX is claiming to use MT4 trading platform, in real sense, they are using a custom made platform. The problem with custom made platforms is compatibility and stability. Some smart phone users could not use the platform as it is not compatible. Another vivid problem with their platform is having a slow execution speed. Investors want a trading platform with advanced tools and fast execution speed. With Capital Coin X, you are bound to lose as trades are made at a slower pace.

Disadvantages/ Problems with CapitalCoinX

Customer Support

As you can see, the platform does not have a live chat support feature. And this is a huge disadvantage especially to members of the platform. Members are limited to sending emails and making calls. The problem with emails is that they may never get any response. The telephone listed is ever busy and we suspect this is orchestrated by the broker.

False Claims

CapitalCoinX is claiming to help users with fund management. Once you open a Premium and VIP account, they promise to offer fund management. These claims are untrue as no member has come out with claims of ever getting these funds. Furthermore, the platform does not issue users with any form of bonuses. You should stay away from platforms which make over the moon promises.

Unstable trading platform

Another disturbing feature with Capital Coin X is lack of proper security features. You would expect the platform to have DDoS and SSL Encryption for all to see. Without these vital security features, members face losing their credit cards. Hackers easily target such platforms and steal valuable data including personal identity details.  And this is why investors should opt for another reasonable Crypto trading platform.

Safety of funds with CapitalCoinX

When it comes to safety of funds, CapitalCoinX is never going to fully guarantee your safety. We did mention that the platform does not segregate accounts. What this means is members are actually depositing funds to the owner’s bank account. Members of Capital Coin X are enriching the pockets of these scam artists. With a platform with no security features, no one should make any deposits with them. To stay safe while trading digital currency, you need to have a reliable partner. For Crypto a miner, having a dependable Crypto mining company is all you need.

Scam or legit

A number of reasons clearly show CapitalCoinX is a scam. No proper communication channel means these are newbies who are toying around with investors’ funds. Lack of segregation of accounts is proof we are dealing with amateurs. Another shocking feature with CapitalCoinX is inability to deliver on their promises. Never expect a fair trading experience with an anonymous and unlicensed trading platform.

Bottom line

From the look of things, we will have to add this platform to our no go zone list. Blacklisting this platform will keep our readers safe from their messy and unproven trading platform. Make sure to read our detailed reviews and know what’s going on in the world of online trading.

Wishing all investors and traders a happy and safe trading experience