Deluxe Coin FX

Note: Deluxe Coin FX's official site - https://deluxecoinfx.com/ is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.

What is Deluxe Coin FX？

Deluxe Coin FX is a broker based in the United Kingdom with a business focus on cryptocurrencies. Its official website has already shut down and it currently holds no regulations.

Pros & Cons

Pros:

• Low Minimum Deposit: A low minimum deposit requirement of just $50 makes it more accessible for individuals who are either new to trading or are not willing to commit a large amount of capital upfront.

Cons:

• No Regulation: Operating without regulatory oversight is a significant risk factor, as it means less protection for traders and may suggest potential for unethical practices.

• Only Accept Bitcoin Payments: Limiting transactions to Bitcoin excludes traders who do not use or wish to use Bitcoin, and it also exposes them to the volatility and potential security risks associated with cryptocurrency transactions.

• Dead Official Website: An inactive or non-operational website undermines credibility and makes it hard for traders to obtain important information about the broker or to verify its legitimacy.

• Lack Info on Key Trading Conditions: Not providing detailed information on trading conditions, such as spreads, leverage, and other fees, hampers a traders ability to make informed decisions and understand the costs and risks involved in using the platform.

Is Deluxe Coin FX Legit？

• Regulatory Sight: Deluxe Coin FX is currently without regulatory oversight and any licenses that would enable it to conduct its operational standards in the financial market. This lack of regulation poses numerous risks to investors, such as a lack of transparency, security concerns, and no guarantee of adherence to industry standards and practices.

• User Feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.

• Security Measures: So far we haven't found any information about the security measures for this broker.

Market Instruments

Deluxe Coin FX provides brokerage services on cryptocurrencies only, and traders can engage in the dynamic and rapidly evolving crypto market, trading in various digital currencies. However, this is very limited, because most brokers in the industry will offer a wide range of market instruments such as indices, stocks, and others. Deluxe Coin FX's narrow business area limits users' trading opportunities.

Deposit & Withdrawal

DeluxeCoinFX only accepts Bitcoin payments. In this case, payments via Visa, Mastercard, or other credit or debit cards are not supported. Users cannot use these common methods to fund their trading accounts or withdraw profits. Users cannot use traditional fiat currencies directly, either. This means that standard banking methods like wire transfers, bank drafts, or SWIFT transfers are not available. Bitcoin transactions are final and irreversible. Once executed, they cannot be undone. This means there is no chargeback mechanism if the user makes a mistake or if there is a dispute.

Customer Support

Deluxe Coin FX provides its customer service via phone calls and email:

1. Telephone Support: It provides support via phone line at +447-3605-08405, so clients can contact FXMAGNA directly via phone for immediate assistance.

2. Email Support: Its email address is at support@deluxecoinfx.comwhich allows clients to send detailed queries or documents. It is suitable for non-urgent issues or when a record of the communication is needed.

Conclusion

As a broker, Deluxe Coin FX provides limited market instruments and limited payment methods. It does not provide information on key trading conditions and is currently non-regulated, with its official website dead already. We recommend users to avoid trading with this broker.

Frequently Asked Questions (FAQs)

Question: What is the minimum deposit required？

Answer: $50.

Question: Can I use my Visa card to pay？

Answer: No, since Deluxe Coin FX accepts only Bitcoin payments.

Question: Is Deluxe Coin FX regulated？

Answer: No, it is not regulated.

Question: Is my money safe with Deluxe Coin FX？

Answer: Not at all. Deluxe Coin FX is not a regulated broker and it does not apply extra security protocols either. Plus, its official website has already shut down.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.