I also posted this on FPA.
I just completed a large (for me) transaction with coinexx.com and thought I’d pass along my experience.
About a year ago, I opened an account with Finpro trading. I guess they were based out of the UK. I started with a $3,000 and I never did take any withdrawals from this account. I was fine with them, but since I never made a withdrawal they were still unproven for me. My account steadily increased over time time and by the end of December my account equity was around $6,000. Then, right after Christmas, I got the notification that my account had suddenly been transferred to Coinexx. A real WTF moment, as there was no advance notice that this was going to happen with no options offered.
The other thing that I didn't like, was that all additions and withdrawals would be made in cryptocurrency and I had absolutely no experience with that form of money. Also, they had a continuing problem with their website getting their dashboard working properly, which didn’t seem very professional.
So, even though my account continued to grow there were several things about Coinexx that made me quite nervous. As others have said, the fact there is no address, no country, no phone number, no point of contact other than a chat and an email address, made me quite nervous. I mean, this place could disappear off the face of the Earth and what are you to do? There would be no chance of recourse. So, I decided to get set up to withdraw my funds. As I learned about how to navigate in the Bitcoin world, I first did an initial transaction and pulled $50 out of my Coinexx account, had it delivered to a newly created wallet, then sent it to a currency exchange and finally had a bit of money placed back into my personal checking account to prove I had at least a newbies grasp of the system. So far, so good.
I held on to my account for another week or two then decided it was time to ease my mind, close out, and go somewhere else. So I went to the Coinexx site and made the withdrawal for 7,000 USD to add to my crypto wallet. On the Coinexx site, they say there is a 24 to 48-hour time frame for the transaction to be approved. At the 24-hour mark, I contacted Coinexx via chat just to make sure that everything was in order and there wouldn't be any surprises. They assured me that all was right with the world. So far, so good.
So after about 36 hours passed I was pleased to find the transaction happened and the $7,000 was in my wallet. After the money showed up in my account, it took about seven or eight hours for the pending notice to go away and finally the money is there to do with as I please. So, it all was as it should be, but it was just too much of a risk for me to keep that money in there, with basically an unknown, unknowable, untraceable organization. So, as far as doing what they said they were going to do, I have to give them a thumbs up, they did come through. However, IMHO they need to spend some time establishing themselves as a real organization.
So now, I have SPB set up on TradersWay.
