Robexcoin is a newly established con artist on the crypto market. The company presents itself as a crypto exchange, enabling investors to trade digital coins.
Since the alleged owner is in the US, the firm would need NFA, CFTC, or a similar license. Let’s see what our investigation has given us so far. Make sure to read this detailed Robexcoin review until the end.
Also, we recommend you not to invest in the fraudulent brokersPrimeinv,W2W CapitalandTG Capital.
|Broker status:||Unregulated Broker|
|Regulated by:||Unlicensed Scam Brokerage|
|Blacklisted as a Scam by:||N/A|
|Owned by:||Robexcoin.com Finance LLP|
|Headquarters Country:||USA (allegedly)|
|Cryptocurrencies:||Available – BTC, LTC, XRP|
|Types of Assets:||Cryptocurrencies|
|Free Demo Account:||No|
|Accepts US clients:||Yes|
Is Robexcoin Сrypto Trading Company Legal?
As per the Terms and Conditions, Robexcoin claims to be a brand of Robexcoin.com Finance LLP. If the name itself hasn’t already put you on alert, the lack of a license certainly will.
We’re given the US as the broker’s headquarters, implying that the company should hold CFTC or the NFA regulation. Upon checking these databases, we found nothing.
Since the firm is active in other countries, we’ve expanded our search to major Tier1 registers, such as FCA, ASIC, BaFin, and CONSOB. Once again, we found nothing.
Furthermore, Robexcoin.com Finance LLP is not a registered firm anywhere in the US or broader.
Just two weeks ago, this same website was cloned under the domain dvanxbit.com. It’s the same owner and the same fraudulent pattern. Be on the lookout for both scammers, as you may quickly lose your funds.
Reasons Not to Trust an Unlicensed Broker
Unlicensed brokers, whether crypto, Forex, or binary options, are not safe. Instead of following rigorous rules imposed by license providers, keeping funds in segregated accounts, and participating in compensation scheme funds, they have no obligations.
As you can tell from the example of Robexcoin, they can provide false owners and headquarters, remaining virtually anonymous. Thus, finding perpetrators and recovering funds can be a real hassle.
So Is Robexcoin a Decent Broker or a Scam?
Robexcoin is an anonymous crypto exchange and trading provider. The company is allegedly based in the US but has no valid licenses to provide crypto trading services. It’s rated negatively among investors.
What Do Traders Think Of Robexcoin?
Robexcoin and an alternative company, Dvanxbit, have both been established recently. One domain has been active since July 2022, while the other was operational as of September.
Since they’re both fairly new, there are not many reviews. Yet, those who have decided to share their experience have been robbed of their money. According to complaints, Robexcoin takes customers’ funds in crypto, knowing that this method is virtually untraceable.
Relying on anonymity, they refuse to approve any withdrawal requests.
What Platform Does Robexcoin Provide?
Once you register an account with Robexcoin, you can access a web-based platform. It’s more of a TradingView chart suitable for a crypto exchange. There are barely any trading tools, not to mention EAs or social trading.
Instead of using such a poor trading tool, you can find yourself a reputable brokerage with MT4 or MT5 on offer. These two platforms set their place as industry standards thanks to many features and the ability to support even the most advanced trading strategies.
Access the Account From a Mobile Device
While there are photos of mobile devices with apps, we haven’t found any links or indications of mobile software. Android and iOS users must use their web browsers to log in.
Once again, MetaTrader is superior, allowing both platform users to access their trades conveniently.
Customer Support – Communication Channels
Robexcoin claims to have an online chat and form where customers can request support. Yet, once you click on the online chat option, you’ll be redirected to the main page. Thus, there’s no support whatsoever.
Once you register on their ad, broker employees can contact you via phone calls, email, WhatsApp, Telegram, and even social media. When you need them, they’ll make sure to be unreachable.
Robexcoin – Countries Of Service
According to reviews, this trading brokerage mainly operates in:
What is more, we strongly advise you not to invest inBuffets Finance,CFDtradesandFibofixfraudulent brokers.
Robexcoin Range of Trading Markets
According to its website, Robexcoin broker offers access to over 30 cryptocurrencies. Customers can trade in crypto against USDT.
- KSM/USDT, etc.
However, this is quite a low number of assets for an exclusive crypto provider.
What Is Known About Robexcoin’s Trading Conditions?
Long story short, virtually nothing. The firm doesn’t specify spreads, swaps, or any other trading fees.
The leverage is advertised as 1:100, being another proof that Robexcoin cannot be US-based. The maximum allowed leverage for crypto trading in the US is 1:2 due to high risk and volatility.
Robexcoin Minimum Deposit and Withdrawal Terms
The company has never specified the minimum deposit it requires from customers.
However, withdrawals have some outrageous clauses. If a customer wishes to convert crypto to fiat currency (USD, EUR, etc.) and receives funds in their bank account, Robexcoin says there may be a delay of up to 1 month.
Furthermore, those who wish to withdraw money to their crypto wallet will have to wait between 1 and 72 hours.
Yet, in case you change any user information, you’ll be disabled from submitting a withdrawal request for 3 days.
Methods of Making a Deposit
The brokerage accepts only crypto payments. Since such deposits are not eligible for a chargeback, you may want to reconsider your decision.
While it’s not unusual for a crypto broker to take payments in crypto, it’s uncommon for them to be unregulated. This fact, combined with a virtually anonymous payment method, can only mean problems.
Scammed by Robexcoin Broker? – Let Us Hear Your Story
If you have been scammed by Robexcoin or their offspring Dvanxbit, let us know. Our recovery experts may help you track and trace your crypto to the recipient wallet. Don’t give up!
Book a free consultation with our experts and we may be able to assist with the recovery. Time to act!