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🌐 Website | coinfrex.com lotfxmarket.com fxoptions.online zenithearnings.com astroixoptions.com apextrades.ltd coinextrading.com exnessbitoptions.com elitefxtrader.com |
🏠 Company | GAIN Capital Holdings, Inc. & GAIN Capital UK Ltd |
📌 Address | 135 US Hwy 202/206, Bedminster, NJ 07921, USA & Devon House, 58 St Katharine’s Way, London, E1W 1JP, United Kingdom |
☎️ Phone | +16476971684 |
info@coinfrex.com | |
⚖️ Regulation | Unregulated, Blacklisted, (Clone of FCA Authorised firm) |
Coinfrex is an online trading broker owned by GAIN Capital Holdings, Inc. & GAIN Capital UK Ltd. The company is located at 135 US Hwy 202/206, Bedminster, NJ 07921, USA & Devon House, 58 St Katharine’s Way, London, E1W 1JP, United Kingdom.
To contact Coinfrex, their support team can be reached via phone at +16476971684 or by email at info@coinfrex.com.
Their website can be found at : coinfrex.com lotfxmarket.com fxoptions.online zenithearnings.com astroixoptions.com apextrades.ltd coinextrading.com exnessbitoptions.com elitefxtrader.com
It is essential to exercise caution and conduct deep research before engaging with any online trading platform, including Coinfrex.
To help you make an educated decision, consider checking out our in-depth reviews of two other companies we have recently examined: OFXB and Exrates.
In all probability, there have been other traders who have already used the same service, and have expressed their opinions and feedback online on various forums.
Reading reviews from other traders who have experienced Coinfrex firsthand is crucial in determining the broker's reliability. These reviews offer insights into the platform's functionality, customer service, and overall trading experience, allowing potential investors to make informed decisions.
If your funds are stuck in your Coinfrex account, you should try to reach out to them first and request a withdrawal by every possible means so that you have proof to show authorities later on if they refuse to process your withdrawal.
Unfortunately, Coinfrex is not regulated or authorized to operate by any major regulatory authority, which means it will be a difficult process to withdraw from this company if they decide to ignore your request or suspend your account for trivial reasons.
If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means they are unregulated and should be avoided. Even if the brokerage is regulated, it is best to avoid it if the regulator happens to be outside your jurisdiction.
Read more about this topic in our dedicated article: Financial Regulation Authorities.
When researching an online broker, the first and most important step should always be to find out if they have a regulatory license from a financial institution. This will tell you whether they are regulated by a central authority or if you are dealing with an offshore and/or unregulated investment company.
When a broker is unregulated or regulated by an entity outside of your jurisdiction, you have limited to no legal recourse in the event that your funds are compromised. In an event of theft, complaints can only be made if that broker is licensed by the regulator in your jurisdiction.
Some examples of regulatory authorities that issue brokerage licenses are:
If a broker is not licensed by the regulatory authority in your jurisdiction, that likely means that they are unregulated and should be avoided. Even if the brokerage is regulated, it is best to avoid it if the regulator happens to be outside your jurisdiction.
One of the most prevalent online trading scams is to initially display profitable trades that give the investor a false sense of confidence, and get them hooked to the idea of ‘easy money’. Once this confidence is established, the investor will be marketed the idea of investing more money to earn greater returns. Additionally, other incentives may also be provided to encourage the investor to get their friends and family onboard the platform too.
Once the brokerage believes that they have extracted all available funds from an investor and his/her network, they will then proceed to suspend the account, and the investor will no longer be able to access the funds put in.
Many fraudulent firms will even claim to be domiciled in a regulated jurisdiction, and display fake regulatory licenses and addresses on their websites to try and improve their credibility with unsuspecting investors.
Be careful and verify your information through multiple sources. Constant vigilance should be applied at all times when trying to invest in trading platforms.
If you have lost money with Coinfrex, stay calm. It has likely happened to many others, and it its important to learn from these experiences. Do not forget that even the most cautious investors can fall victim to online fraud.
The good news is that there is help available. The team at MyChargeBack – a specialist group dedicated to helping consumers recover funds lost online – can help you for your chargeback process:
Relying on a reputable service like MyChargeBack is crucial when dealing with online scams, as the typical chargeback process can often be complicated and time-consuming without the proper guidance.
Follow our straightforward guide to efficiently reclaim your lost funds from Coinfrex with minimal hassle.
Complete the Form: Begin by completing the form above, providing necessary details about your case. This allows the team to understand your situation with Coinfrex and prepare for the consultation.
Get A Free Consultation: Schedule a free consultation with MyChargeBack team of experts. During this consultation, they will assess your case and offer guidance on the best course of action to recover your lost funds from Coinfrex.
In-Depth Case Analysis: As you proceed with MyChargeBack, their expert team conducts an in-depth analysis of your case, identifying the optimal chargeback strategy for fund recovery based on your unique circumstances.
Recovery Process: Their team of specialists scrutinizes your case, collects evidence, and negotiates with the involved parties to expedite the recovery of your funds. MyChargeBack team will consistently communicate with you and your bank or card issuer during the chargeback process.
Fee Payment: Upon successful recovery of your funds lost to Coinfrex, MyChargeBack charges a fee as a percentage of the reclaimed amount. If fund recovery is unsuccessful, no fees apply, except in exceptionally complex cases.
Through these five straightforward steps, MyChargeBack simplifies the fund recovery process, enabling you to reclaim your money from Coinfrex with minimal inconvenience.
Is Coinfrex a Legitimate Company to Trade With?
Unfortunately, Coinfrex is not a trustworthy company to deal with, as they are not registered or regulated by any major regulatory authority, such as the Financial Conduct Authority (FCA).
What Are the Risks of Using Coinfrex?
The risks involved in using unregulated companies like Coinfrex include the inability to file a complaint with a credible regulatory authority in case of a dispute.
What Should I Do If I Have Been Scammed by Coinfrex?
First and foremost, report the incident to your local authority department. If no resolution can be reached, there is still hope to recover your funds from Coinfrex by attempting to open a chargeback case with your bank or credit card provider.
How Can I Get Help for Filing a Chargeback Case?
Since the process of filing a chargeback case can be relatively complex and time-consuming, we recommend seeking assistance from our partner, MyChargeBack, by completing the form provided on top of the page.
In the event of an exceptionally complex case they may require an upfront fee, as building your case will necessitate initial resources. Otherwise, if successful, MyChargeBack will be compensated by retaining a percentage of the recovered funds from Coinfrex, typically around 20%.
How Can I Avoid Being Scammed Online?
To prevent falling victim to scams in the future, always ensure that you deal with legitimate companies that are fully regulated by major regulators, such as the FCA.
Kenny Darcy says:
GOT SCAMMED
Dickson SAKALA says:
It sounds so good and also nice
Rholly Mae Cabosura says:
PAYMENT DETAILS
Western union/OMT /MONEY GRAM
Name:Mbuvi Wilson
I think this is the same person you’ve dealt with. I’m talking to him through Instagram and won’t give me his name. I think this is the same guy. Here’s the account details he sent me where the investment will be sent.
Thank God I found this comment and prevent me from getting scammed for the 2nd time. I recently lost 5000 Philippine peso from another company which blocked me on Instagram and asked me to send them 30000 to claim the profit. I hope the legit Coinfrex company will be able to trace this people and stop them from gaining more victims. Here’s the details sent to me
Address:00100
Country:Nairobi,Kenya
Phone number ;254787253106
Send confirmation of mtnc number once you done with transaction
Charles Mote says:
Pole sana Mohammed, am a victim too I was scammed by coinfrex some years back through this bastard by the name Abarufa Rodgers.
MOHAMMED SALEEM BAKHSH says:
DEAR SIR
I HAVE GOT SCAMMED WITH A COINFREX TWO DAYS AGO I DONT WANT THE FUNDS I WANT MY MONEY BACK I SENT
( 100$) FOR THE PACKAGE THEN THEY ASK ME TO SEND MORE 285$ TO REACH THE 1000$ TO RELEASE THE AMOUNT OF FUNDS OTHER WISE THEY CANT DO ANY THING & THEY ARE DOING THIS WITH EVERYONE
HER NAME IS MARYLINE CHEROP
KENYA NAIROBI 00100
PHONE NO +255758778233
I hope NO ONE DEAL WITH HER FOR YOUR OWN SAFTY
I JUST WANT MY MONEY BACK
Agnes says:
How long will it take to receive my refund?
Jerry says:
Please help me retrieve my money
Inonge says:
Did you get your money back
Lee says:
How do I find an original Coinfrex trader
Samuel sichilima says:
I also got scammed by a guy named Diego alvaro using the company name as a broker n showing screenshots of people being paid but there were not paid at all..
Elias Bitar says:
Well done, the exact same scenario happened to me 2 days ago and I have all details, chat, western union transfer etc… bunch of scammers…
Elias says:
I just faced the same case today with prices in hand and everything, the name of the guy is Namaan Pkiror Tungole, Adress 00100, Nairobi Kenya, no. 25487253106.
Omar Khaled Hussein says:
Dear coinfrex
My name is Omar Hussein I got scammed by a page having your name on Instagram, I deposited 100 $ through money transfer western union OMT , and after that he asked more money to send me my profits and I knew it is a kind of scam, before I transfer the money I read about coinfrex over the web and I saw it is a legit company, I have the chat and name of the guy and his location and also the receipt of the Western Union transfer,I am handling you the responsibility because I lost money, you are the main cause because if you are a good company you should check fake websites using your name, I reported a file to the interpol today about the online scam but you are responsible to give me my money back , I look forward to hear from you back and if not I will file a complaint against you for negligence.
Best Regards,
Omar Hussein,