For investors interested in foreign exchange and stock markets, the support of a broker, whose task is just to provide access to marketplaces, is necessary. A huge number of dealing organizations advertise themselves on the Internet every day, calling to invest in various assets - securities, cryptocurrencies, raw materials or commodities. Managers of such brokerage projects try to be as convincing as possible, promising high profits and guaranteed benefits. In this review, we will focus on one such company, which presents itself as a broker CXOINVEST and is located on the website cxoinvest.com.
On the website of this broker we see a confirmation of the common mechanisms of attracting the attention of users, which is relevant in the sphere of online trading.
Alas, but in most cases, such companies turn out to be fake, created only to deceive their clients in order to steal the monetary capital of gullible investors. Such advertising is aimed to empty the purses of beginning traders, as an experienced investor understands that the market is characterized by great volatility, and only scammers and swindlers guarantee profit.
The experience of making objective detailed reviews of on-line brokers' activity confirms that the choice and the recognition of the really reliable broker, but not the swindler is a difficult task.
A beautiful website, bright advertising slogans and convincing reviews have a big impact.
We'd like to believe that everything that CXOINVEST brokerage project tells about itself on its official site is true.
It is highly mistaken to think that checking one or two reviews is enough information to detect the most cherished reliable company, with which it is safe and profitable to start trading operations in the sphere of online trading.
Often the leaders of dubious fraudulent projects order positive reviews about themselves, in order to raise their rating and justify the chosen role. As a result, the "bonuses" from such cooperation are felt by the trusting client much later, when he has shared his personal data and personal money with fraudsters. Scammers often share their clients' personal contacts, even though they swear to guard the information they entrust to them. As for the money, traders do not have to count on the withdrawal of profits. At the very least, the swindlers can withdraw insignificant amounts of money at the beginning of cooperation, so that the client swallows the bait more reliably, loses vigilance and decides to make larger investments, which will all end up in the pockets of swindlers.
Read our review where we introduce the history of CXOINVEST, its managers, legitimacy level, conditions and points that make you wary or refuse to cooperate at all.
Types of trading accounts offered CXOINVEST
At the web-site of the brokerage project CXOINVEST the users are offered four types of real trading accounts which are called here "plans".
Starter Plan, Growth Plan, Luxury Plan and Elite. Fraudsters even specify what percentage of profit you can get from each type. 1%, 1.5%, 2% and 250% respectively. As we have already emphasized - this is an outright deception.
On the platform, the deposits are listed in U.S. currency. The minimum deposit amount is $200.
CXOINVEST shows a very wide step between deposits. For example, for the other plans, the minimum deposits are $10,000, $50,000 and $100,000.
In the Terms and Conditions section we managed to find information about the Islamic Account.
It's strange that CXOINVEST doesn't mention it in the special section devoted to trading account types. By the way, we see that the company reserves the right to change the conditions at any time, add or cancel commissions and practice various changes.
On the one hand the swindlers assure on the main page that there are no commissions. In practice there will be commissions. You may read about it in the Client Agreement. CXOINVEST informs about it somehow vaguely, secretly.
It would be understandable if the broker earns his money this way - it is a normal practice, but then you should not deceive that there are no commissions. But here the trader has to pay to some third parties. And the minimum commission is $30.
Moreover, for the withdrawal of funds the broker wants 3.5%. However, it specifies that the commission payment must be from $30.
If the client has an inactive account, the platform will charge a $50 penalty fee.
By the way, this dubious broker deliberately keeps silent about spreads and swaps on his website, which means additional financial losses for the clients of this organization.
Here are the scams from the first steps of acquaintance with the CXOINVEST platform.
CXOINVEST Trading conditions
The company tells us that they are a versatile organization and that investment activities are not their only focus and they have also taken on the role of a "legitimate foreign exchange broker".
CXOINVEST makes nice promises that with them investors of different categories can greatly improve their trading experience. They may be right here, although they don't say the experience will be negative.
They inform about the ability to trade forex, indices, commodities, cryptocurrency and stocks. They mention over 1,000 products that traders can invest in. They don't go into detail, though. This is typical advertising that has nothing to do with reality.
CXOINVEST prides itself on having the best trading platform that gives instant entry into the market. It colorfully advertises advanced charts, advanced analysis tools.
All of this is nothing more than bragging and advertising what is not there.
On the whole, the official website of CXOINVEST looks suspicious. Apart from pretty words the user sees a hastily created cheap business card of typical cheaters: the primitiveness of design, low-quality translation, little information, greed, which permeates the terms and requirements - just a load of flaws.
Offering the site in many languages of the world, English is missing from the list.
And the top bar of the home page itself is presented strangely - we see a mixture of the English version with Russian inserts. And this is not some insignificant section, but the backbone of the official site.
Moreover, CXOINVEST emphasizes that the main language of cooperation is English.
Only another fraudulent idea could get such a lowbrow implementation.
There are bonuses among the broker's offerings. However, all regulated brokerage companies are prohibited from this option. These are typical scam traps for inexperienced traders. The money that the platform supposedly gives, in fact, can only be withdrawn after hoarding the same or a higher amount, which is an unprofitable operation and a common scam. Fraudsters calculate the amount by a cunning formula and always remain in the black.
CXOINVEST account can be replenished in only one way - via crypto assets. This scheme is actively used by scammers, because such transfers are anonymous and have no reverse effect - they cannot be cancelled or withdrawn.
They brag about the availability of powerful trading software. Unfortunately, the broker has no trading interface. That means it's hard to even call them an investment company.
When getting acquainted with CXOINVEST, it is also important to pay attention to the footer. There is some interesting legal information in small print. It turns out that CXOINVEST is only an intermediary for traders to various world exchanges. This means that in case of any difficulties the broker will not be depended on and the trader is left alone with his problems.
Scammers often use this scheme: they ignore the client's appeals for weeks, until the term of the deposit expires and the money is burned out.
All the information the company provides has no proof: they talk about 1,000 instruments and assets, but don't even try to list which ones. They write about being a licensed company, but don't refer to the license number or a copy of the document.
They also try to convince the users that they are serious and that they do everything to make the trading safe for their clients. It even talks about the presence of SSL encryption and the logo shows.
However, all these are just words, and the clients' personal data and funds are in great danger. Traders should be reassured that encryption scares away hackers. However, the enemy of their capitals is the broker itself.
They do not have a license.
By the way, the platform has a maximum leverage of 1:200, which means that they cannot be a legitimate brokerage company in the United States, as they are trying to convince users.
In the said territory, the maximum allowable leverage is no higher than 1:50.
By the way, even here the languages Russian and English are mixed, which once again emphasizes the non-seriousness of CXOINVEST office.
It seems that there is no such company at the indicated address. Brokerage companies registered in the U.S. have high requirements, but we have already identified a lot of violations of the rules of the U.S. regulators. Let us turn to the USA regulator FINRA.
Our concerns are confirmed. CXOINVEST is an illegitimate fraudulent organization.
Checking the domain of CXOINVEST official website cxoinvest.com using WhoIs service showed the registration date to be 2009.
There are doubts that it was this particular company. Most likely a typical scammer scheme was used here: they buy a domain with a history and then use it to create their own fraudulent sites.
The parameters indicate a renewal date in 2019, May 18. Most likely, that's when the brokerage project cxoinvest.com was created.
There is a practice of placing legitimate sites on servers with many other secure sites. We managed to find out that several untrustworthy websites are based on the same server as the CXOINVEST website. This is a negative signal for the rating of the project, which, as we have seen many times, is not worth working with.
CXOINVEST Reviews online
If CXOINVEST has been around since 2019, it's strange that we were able to find only a few reviews about the company, most of which are negative.
Former customers say that this broker is unreliable, deceitful and steals money.
Safety and security of funds with CXOINVEST
CXOINVEST does not provide a compensation mechanism. There is no transparency on the platform. The broker does not report its daily trading activities to the regulator. However, their promises are given out generously.
The website is saturated with false information which is not confirmed by facts. Checking during the preparation of the review showed that we are dealing with a common scammer.
CXOINVEST is not a reliable broker but a project for fraudulent activities in the financial sector, including investment scams and deception of traders.