Deluxe Coin FX Review – Identifying the Red Flags


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Get your money back from any scam broker!
Fill in the contact form on the page in this link and you will get the help you need in order to recover your stolen money! You will be guided through the whole refund process by the customer support of a recommended scam recovery service after which a case will be opened for you by a personal case manager.


Deluxe Coin FX Review

Deluxe Coin FX logoOne of the biggest trends that have emerged in the last decade is that of cryptocurrency. The market has grown and expanded beyond expectations and people all over the globe are eager to delve into this space. There is a lot of money involved, so it is understood why it has drawn so much attention. But, the problem is that it has also brought in a number of shady characters and scammers because of the money. It has become a fertile ground for scams and frauds like this Deluxe Coin FX review will highlight because most people are eager to trade crypto assets, but do not have enough knowledge about them.

Therefore, they are unable to judge whether they are dealing with a legitimate brokerage, or a genuine one, when they begin looking for one to trade in the cryptocurrency market. The popularity of these digital currencies has resulted in an explosion of brokerages in the market that are offering their trading services. They promise access to the best crypto assets, along with excellent and competitive conditions that can be hard to resist, due to which people sign up on their platforms quickly. Cybercriminals have taken advantage of this and set up bogus and fraud companies to exploit people.

You can find stories of countless people who have become victims of these impostors and have had their sensitive data and money stolen. It can be traumatizing to say the least to have to go through such an experience. So, how do you avoid it? The key is to look for any red flags in a brokerage before you decide to commit to them and open an account. This can save you from having to suffer from any disastrous consequences and choose the right brokerage for your trading needs. It is a must to do this in the case of Deluxe Coin FX as well, which might come off as an attractive package at first glance.

Deluxe Coin FX website

It presents itself as a crypto brokerage that is properly authorized and registered, but you will come across plenty of red flags when you check out Deluxe Coin FX. Take a look at some of them below:

No licensing and regulation

First things first, you need to ensure that you are dealing with a licensed and regulated brokerage because these are authentic and can offer you high quality services, along with a safe trading environment. Plus, as they are monitored by a third-party authority, it is possible to hold them accountable, so you can expect compensation in case of a problem. When you check out Deluxe Coin FX, you will come to know that the brokerage claims to be registered in London, United Kingdom.

Operating from the UK is certainly a big claim because it is a highly regulated jurisdiction that has a lot of rules that brokers need to be comply with. Unfortunately, it turns out that Deluxe Coin FX is just making false claims about its UK registration because of several reasons. The regulatory authority for the UK is the Financial Conduct Authority (FCA) and if you check their online register, you will not find the broker listed there.

This is the first indication that you are dealing with an unregulated broker. Secondly, it should also be noted that it is not possible for Deluxe Coin FX to operate in the UK, given that it is offering crypto CFDs because the FCA has imposed a ban on them. They cannot be offered in the region at all, which means it is not possible for the broker to get a license. Lastly, the platform is also breaking the rules of the FCA when it comes to leverage and this is yet another red flag.

If you need further confirmation, then all you need to know is that the FCA itself has issued a warning against Deluxe Coin FX and it has been blacklisted for operating illegally in the region. Moreover, the Terms and Conditions of the broker reveal that it is actually based in Saint Vincent and the Grenadines. This is an offshore jurisdiction that does not regulate its forex industry, which has made it a hotbed for scams.

Guaranteed returns

Other than the lack of licensing, one of the biggest red flags that you will come across at Deluxe Coin FX is that it is offering guaranteed returns to its clients. The brokerage seems to be lying about its business model altogether because it does not give you access to trading at all. Instead, you will find investment plans available that are offering high returns to traders, something that no genuine company would ever do.

The cryptocurrency market is highly volatile and even the most experienced and professional traders cannot guarantee profits to anyone. The fact that Deluxe Coin FX is doing so is a huge red flag that you need to be wary of because when something sounds too good to be true, it usually is.

Only crypto deposits available

Another red flag that you will come across at Deluxe Coin FX is when you check out the payment methods they are supporting. This is when you discover that payments can only be made in the form of crypto. There are no conventional payment methods available, which means you cannot file for chargeback in case of a problem. Crypto deposits have become popular amongst scammers because these payments are final and irreversible, so people will not be able to get a refund.

High leverage

A look at the leverage offered by Deluxe Coin FX also reveals another red flag because you will find that they are offering ratios as high as 1:100 on crypto assets. This is excessive because most brokers do not offer leverage beyond 1:2, considering the volatility of the crypto market. Moreover, it shows that they are going against the rules of the FCA, which has imposed a cap of 1:30 on leverage that can be offered to retail traders.

Wrapping Up

These red flags make it evident that Deluxe Coin FX is not a genuine and authentic brokerage and is clearly a scam operator.


How To Get Your Money Back?

Get your money back from any scam broker!
Fill in the contact form on the page in this link and you will get the help you need in order to recover your stolen money! You will be guided through the whole refund process by the customer support of a recommended scam recovery service after which a case will be opened for you by a personal case manager.


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