Oxcoinfx Review: A Despicable Crypto Platform

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Oxcoinfx Review
  • Compliance and Regulation
  • Contact and support
  • Deposit safety
  • Trading Platform
  • User Interface
0.9

Summary

Oxcoinfx claims to offer high returns within five days of investing. But, unfortunately, those who took the chance are ruing the decision. Please find out more in our distinctive oxcoinfx.com review.

Taking advantage of investors is what Oxcoinfx is all about. The crypto investment platform ripped off hundreds of investors last time we checked. Now, we have to put a warning out regarding investing with Oxcoinfx.com. Those who have invested with the platform rue the decision of opening an account with them. OX Coin FX is another crypto investment platform ripping off members. Here’s more in our exclusive OXCOINFX REVIEW.

A Brief Overview of Oxcoinfx

On the main homepage banner, Oxcoinfx claims to redefine trading cryptocurrency. The truth is, you won’t get to trade with the platform. Most of the trading takes place on their behalf. Once you open an account, you give them the power to control your account.

Oxcoinfx Advantages and Disadvantages

It doesn’t seem fair or has any logic to skilled traders. You would want to harness your trading skills. And this is why the platform targets newbies who don’t know about trading. The platform will claim to invest on your behalf as you wait for profits to soar.

NOTE: Experts recommend using proven tools when it comes to crypto trading. Go for crypto trading robots that enjoy the backing of the crypto trading community. That’s all that you need to ensure your trading goes smoothly.

Oxcoinfx only wants to take advantage by ripping off anyone who deposits with them. So for the past few weeks, no investor has had the chance of withdrawing funds. And this is why we have to post this eye-opening Oxcoinfx.com review.

Once you land on their homepage, the platform looks genuine. And that points to the owner having experience in the crypto space. In addition, the people behind it make the aesthetics appealing to investors.

After joining the platform, that’s when all hell breaks loose. You won’t get to enjoy your profit gains. The platform will completely shut you out from accessing your funds. You won’t even get to withdraw your initial deposit.

We recommend doing due diligence before committing and investing in any crypto platform. Try and find out where the crypto community stands with the platform. Get to know the experience of other users with the platform.

Accounts Oxcoinfx

Oxcoinfx offers three specific plans, each having a different set of features. These include Medium, Silver, and Gold. Each account will promise an additional ROI which is a guarantee. Here’s a closer look at each account;

Medium

It’s the most basic account, with investors having to deposit $200 for a chance of making 15 percent ROI. In addition, the account promises 15 percent ROI for 15 running days. You can deposit a maximum of $700 with the medium account.

Silver

There’s a minimum acceptable deposit of $500. The account promises 20 percent ROI for five days. So it has to be one of the highest ROIs and the shortest vesting period we have seen. And this should be a concern for investors.

Gold

It’s the most exclusive account, with investors having to deposit a minimum of $1,000. You get a guarantee of making 25 percent. The vesting period is also five days with the gold account. You can deposit a maximum of $5,000.

Account features

Accounts Oxcoinfx

What makes these accounts attractive to newbies is the high ROI. Coupled with the short vesting period, it’s a sure recipe for success for naïve investors. But, of course, if these accounts were credible, we would all jump in.

Every investor would want to double their money within five days. Sadly, that’s not the case as reality sets in. The vesting period is not enough to warrant such a high ROI margin. Moreover, the platform is bound to incur losses while investing with market volatility.

These accounts also don’t offer much in terms of trading features. You would expect the platform to give traders the features available. These include features such as leverage and spreads.

In short, Ox Coin FX is another get-rich-quick scheme that acts as a pyramid scheme. It’s also another crypto HYIP scheme planning to rip off anyone who deposits. You now have the full scale of their end game.

Are funds safe with OXCOINFX?

Your funds are far from safe with a platform that hides its identity. In addition, the platform fails to segregate accounts as dictated by trading regulations. As a result, we believe the owner holds funds in an offshore bank account.

Insurance cover for deposits made by the platform is also not available. The platform fails to offer a safety net in the event of bankruptcy or insolvency. You won’t get any compensation from the platform if it winds up or goes bankrupt.

Even if you have a balance, you still won’t receive a penny from the platform. This is because OX Coin FX doesn’t deposit the minimum required amount with regulators to start a trading firm. Instead, the amount is what regulators use to cover deposits made by the public.

And this goes to show how insecure your funds are with such a platform. The platform is unable to meet the high depository requirement. It could be using your deposits to meet their day-to-day expense, such as paying staff members.

There’s no transparency on the platform, making it a dangerous investment firm. You need to check and prove that a platform guarantees safety. There’s also no DDoS protection or SSL encryption on the platform.

And this opens up the platform to hacks that can take advantage of and steal your banking information. For example, during deposit and withdrawal, the platform’s transaction line gets exposed. That’s how hackers gain access to your banking data.

Are funds safe with OX COIN FX?

Business proprietor

On the about us page, Desmond Grey is the name given as the platform owner. It’s a fictitious character with a stock image. The store uses the photo to make the platform appear legit.

There’s no professional profile of Desmond Grey matching the platform. And this means we are dealing with an anonymous platform. So you won’t get to see the names of other founding members or staff members.

And this makes it impossible to recover funds once you know the truth. Hiring recovery agents doesn’t solve the problem. These agents don’t have the mandate to freeze bank accounts. A recent survey indicates these agents are part of the problem.

The agents get your contacts from the platform once you make a deposit. After a while, you get an email from these agents claiming to have won a lawsuit against the platform. To get part of the compensation, you have to cover legal fees.

Those that pay the legal fees end up losing more funds. In addition, these agents don’t play nice and will eventually block all communication with you. The best option is to avoid the platform and these agents altogether.

Client testimony

A client testimony section implies the platform is a complete success. These are made-up comments as it’s the only positive comment you will find. There are no positive remarks about the platform anywhere on the web.

You will only find negative reviews on articles, blogs, and independent websites. Victims have been sharing their experiences via crypto forums and social media platforms. Speaking of social media, the platform doesn’t have a social media profile.

Is oxcoinfx.com a scam?

Compliance, License, and Registration Oxcoinfx

Oxcoinfx is not a compliant crypto investment platform. Therefore, you need to stay away from the platform or risk losing everything.

Instead, it would be best to use what experts recommend as the best tools for crypto trading.

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