Is Coinfxindex legitimate or a scam? coinfxindex.com
Is this site legitimate and is this the normal requirement for a withdrawal?
Coinfxindex is a Forex and CFDs broker owned and operated by ROI STOCK LIMITED, registered in St. Vincent and the Grenadines. It is not safe to trade with Coinfxindex as it is an offshore unregulated broker. The fact is that St. Vincent and the Grenadines is an offshore zone, which does register the financial investment firm, but provides very poor if none requirements to the company operation. That means, the broker is not regulated, not overseen and does not comply with strict international rules that provide protective measures to the traders. Therefore, it became an offshore zone for shady forex brokers. Read more about St. Vincent and the Grenadines regulation by the link.
Since Coinfxindex doesn’t provide any other information about it’s regulation, its safe to say it has none. That’s why we would not recommend dealing with this broker as it may be very risky. If you are looking for a well-regulated broker, check this list and pick the one that fits you perfectly.