Is Coin Matrix Legit or a Scam? 5 Key Questions Answered (2025)

You are likely here because you saw an ad or received a message about trading with Coin Matrix, and you want to know if your funds will be safe. It is smart to verify before you deposit.

According to the latest WikiFX data, Coin Matrix holds a very low score of 1.42 (out of 10). The platform was established recently in 2022 and is registered in the United Kingdom.

Here is what the data reveals about their safety and regulations to help you make an informed decision.

Question 1: Is my money safe with Coin Matrix?

The Evidence:

According to WikiFX's regulatory database, Coin Matrix currently holds no valid regulatory license. Although they claim to be based in the UK, there is no record of them being regulated by the FCA (Financial Conduct Authority), which is the mandatory watchdog for UK brokers.

The Verdict:

No. You should exercise extreme caution.

The Explanation:

Why does a license matter?

• Segregation of Funds: Regulated brokers must keep your money in a separate bank account from their own company funds. Unregulated brokers do not have to do this, meaning they could use your deposit to pay their office rent or valid other withdrawals.
• Counterparty Risk: Without a regulator watching, there is no one to hold the broker accountable. If the site goes offline tomorrow, there is no government compensation scheme to help you recover your money.

Question 2: Why aren't there any complaints?

The Evidence:

We checked the WikiFX database and found 0 complaints filed against Coin Matrix so far.

The Explanation:

Does “no complaints” mean “safe”? Not necessarily.

In this case, it likely means the broker is relatively new (established in 2022) or has a very low volume of active traders. Scams or problematic brokers often fly under the radar until they have collected enough deposits to disappear.

Do not let the lack of negative reviews distract you from the WikiFX Score of 1.42 and the lack of a license, which are the primary indicators of risk.

Question 3: What software will I use?

The Evidence:

WikiFX data does not show valid trading software information for Coin Matrix.

The Explanation:

Most legitimate brokers use recognized platforms like MetaTrader 4 (MT4) or MetaTrader 5 (MT5). When a broker lacks this information or forces you to use their own “proprietary” web-based platform, it can be a red flag.

• Risk: Proprietary platforms may be less stable and, in worst-case scenarios, can be manipulated by the broker to show fake prices or artificial losses. If you cannot find MT4/MT5, proceed with caution.

Final Verdict: Should I open an account?

Based on the low WikiFX Score of 1.42, the absence of any regulatory license, and the lack of transparent software information, we typically advise traders to look for more established options. Your capital is at significant risk with an unregulated entity.

Brokers change their terms often. Before you click 'Deposit', take 5 seconds to verify their live status and latest certificate on the WikiFX App.