121 CoinX Review – Shady, Shadier, 121 CoinX

Trading with 121 CoinX broker is a recipe for disaster. There’s no regulator, owner, governing law, or anything that would help you get reimbursed while all deposits are made in crypto. If you already fell for the 121 CoinX scam, read this review until the end and look for solutions.

What About 121 CoinX Regulation?

As aforementioned, the broker gives us no information about the owner or the regulation. All we can tell is that it’s based in Saint Vincent and the Grenadines, the only country that has no official financial regulator, and companies can easily set up a scheme there. Since the FSA decided to declare itself a financial register and direct brokers to opt for regulation in the country of service, many pretend not to know this and ignore the directions.

For your account, it means that any money you invest is not safe as the broker has no obligations to follow MiFID, ESMA, or any other directive and keep your funds in segregated accounts.

In addition to the above, we strongly advise you not to invest in BenefFX, ZeithCoin and Crystalead fraudulent brokers.

121 CoinX Web and Mobile Trading�

Knowing offshore brokers, you will probably face a TradingView chart with several indicators pretending to be trading software. The broker offers a proprietary platform that can be used in the form of a Web trader, mobile, and desktop app. It gives real-time prices and immediate order execution, while tools like Take Profit, Stop Loss, and more have never been mentioned.

Unless the company can equip you with something reputable such as MT4 or MT5, we advise you to avoid it.

Fund Withdrawal Issues With 121 CoinX Broker

Once you learn that your broker is unregulated, many things become clear. Many of those, among which 121 CoinX, feel comfortable extorting money and ignore clients knowing that their website will shut down once the complaints go to the roof, and they will quickly switch to the new scam. However, it will never be easy for clients to track down shell companies in offshore countries that were stealing money and transferring it all around.

If you have experienced any kind of issue, such as unprocessed withdrawal requests, blocked or frozen accounts, or anything that may lead to your funds being stolen, let us know.

Areas Of 121 CoinX Broker Scam

According to 121 CoinX complaints, most victims come from Switzerland, Cyprus, Norway, Australia, and Singapore. Yet, some brokers have no limits and no restrictions. Since this particular one is not regulated and operates worldwide illegally, we would advise you to avoid it and not let yourself become a potential 121 CoinX scam victim.

Traders About 121 CoinX Scam

There’s nothing to say about fraudulent schemes that only cause problems. Traders mainly complain about withdrawals and the lousy trading platform, bad account manager, and lack of support. Once you want to invest your money, everyone in the company will be warm and welcoming, but they’ll act as you don’t exist when it comes to payouts.

How Does Online Trading Scam Work?

Online trading scams are part of trading with offshore firms. Unfortunately, many of them lack regulatory supervision and feel entitled to do anything just to get the money. Those like 121 CoinX based in SVG, without even the mildest touch of oversight, don’t pay attention to any laws and will go as far as it takes for them to gather funds. Only then will they shut down the website and disappear. Since this particular company takes your money in crypto and it’s an encrypted transaction that’s hard to follow, we advise you to get assistance immediately and deal with the refund.

Also remember the names of the SwissGoldFX, Fundiza and Eurotrader trading scams and avoid them at all costs! Moreover, always check the background of online trading companies before investing!

Scammed by 121 CoinX? – Tell Us Your Story

If you were scammed by 121 CoinX, let us know. It’s time to take some steps and file a dispute for a chargeback.

But What Is A Chargeback?

This is a way to reverse a fraudulent transaction. Since this matter requires certain expertise, we invite you to contact us via online chat and book a free consultation with our specialists. The only thing to happen is you gain more knowledge about the case and get reimbursed. Contact us now, and let’s start.