CodexFX Review 2022: Scam or Legit Broker? Find out Now!
CodexFX is a robot broker founded in 2013 to offer auto-trading services to spot forex and CFDs traders. The broker is a partner of Bitcoin Up, a renowned crypto CFDs trading robot owned by the International Bitcoin Council.
Bitcoin Up popularity grew by leaps and bounds during the 2016/2017 crypto boom. This was after it emerged that it was generating more millionaires than any other bitcoin trading platform. The robot has maintained its popularity since then, making its partner brokers such as CodexFX to also become popular.
No skill is needed to trade with CodexFX through Bitcoin Up. As we will see later in this review, you only need to register on the Bitcoin Up website and deposit the required capital. Bitcoin Up intelligent algorithms will do the rest for you.
We will look at the features that make CodexFX a good auto-trading broker and offer tips to help you make the most out of it when trading through Bitcoin Up.
What is CodexFX?
CodexFX is a robot broker offering spot forex and CFDs trading. A forex robot broker works under an auto-trading platform, and its roles include offering tradable instruments and executing the orders relayed by the robot. The term robot and auto-trading platform are used interchangeably.
Robot brokers also provide leverage and handle transactions with clients. Leverage refers to a form of debt capital provided by the broker to help the trader stake more than their invested capital. It’s through leverage that a small account of $250 can generate a profit of up to $1500 daily. CodexFX offers a leverage of up to 1000:1 for traders who opt to trade through the Bitcoin Up robot.
With such leverage, users can make profits of a $250,000 account from a deposit of $250. Highly leveraged trades also magnify losses and can, therefore lead to huge losses. The Bitcoin Up trading platform is powered by sophisticated risk management features to minimize the risk associated with margin trading.
It is important to note that CodeFX also offers manual trading. Manual trading happens through the MT4 trading platforms. We strongly advise against this option since it requires specialized skills and it is not as profitable as trading through Bitcoin Up. To sign up for automated trading through Bitcoin Up click the link.
CodexFX Review – Product offerings
As stated earlier, CodexFX offers both spot forex and CFDs trading. The broker provides 45 spot forex currency pairs, including all the majors, minors, and a few exotics. CodexFX spot forex option is for those who prefer manual trading through the MT4.
As mentioned above, we strongly advise against this option since it requires skills and does not have as much potential as the Bitcoin Up trading approach. CodexFX offers over 450 CFDs in crypto, commodities, market indices, and stocks.
However, this broker is best known for offering a wide variety of crypto CFDs. These include highly volatile pairs such as BTCUSD, BTCEUR, BTCGBP, BTCETH, and BTCBCH. In total, CodexFX offers 30 crypto to fiat pairs and 42 crypto to crypto pairs. The spreads for trading these pairs are highly competitive, starting from as low as zero pips.
A 2% commission is also applicable on any profits made through the Bitcoin Up auto-trading platform. Moreover, CodexFX offers a leverage of 1000:1 for crypto trading through the Bitcoin Up robot. This level of leverage magnifies the expected returns to unimaginable levels.
A lucky trader can grow a $250 account to tens of thousands of dollars within weeks of investing with CodexFX through Bitcoin Up.
All trading carries risk.
CodexFX Broker Trading Platforms
As stated above, CodexFX offers both manual and automated trading options. Manual trading happens through the MT4 while automated trading happens through the Bitcoin Up robot. You need to be a skilled trader to trade through the manual option.
The automated option, on the other hand, doesn’t require any skills and has proven to be more profitable than the manual one. Bitcoin Up trading algorithms are based on Machine Learning and Natural Language Processing.
Machine Learning (ML) technologies enable them to adapt to changing market dynamics and maintain profitability. Natural Language Processing (NLP), on the other hand, enables the robot to read and make meaning of human language.
Consequently, Bitcoin Up can trade news more profitably than the world best human trader. The NLP algorithms also enable it to read charts and generate tradable insights out of them.
CodexFX Regulation – Is it a scam?
Regulation is a key determining factor of the legitimacy of a broker. You are likely to be scammed if you trade through a broker that is not regulated.
We have conducted background checks on CodexFX and confirmed that it’s regulated in all jurisdictions that matter. Its regulators include top-tier ones such as the UK’s Financial Conduct Authority (FCA), Cyprus Securities Exchange Commission (CYSEC) and the Australian Securities and Investment Commission (ASIC).
Tier-one brokers are respected globally due to their strict client protection measures. Brokers who partner with these regulators are considered the best in the industry. CodexFX is widely reviewed on the internet with most reviewers reporting that it is legit. For instance, it is rated 4.6/5 on TrustPilot after 8k+ reviews.
Moreover, it is rated 4.1/5 on ForexPeaceArmy after 3k+ reviews. There are only a handful of brokers with such great ratings after so many reviews. CodexFX has won numerous global awards including the best robot broker for bitcoin trading in 2022.
Its partner robot, Bitcoin Up, is also top-rated and recognized by authoritative bodies such as the American Association of Auto-traders (AAA). We recommend that you read an in-depth review of Bitcoin Up trading robot by clicking here.
As mentioned previously, Bitcoin Up is a trading robot that generates above market rate returns speculating on bitcoin. It’s easy to use for all, given that it is fully auto.
Getting started with CodexFX through Bitcoin Up
Trading with CodexFX through Bitcoin Up is easy. You only need to register, set up a trading account as instructed, and click the live trading button. CodexFX partner trading robot, Bitcoin Up, will conduct trading on your behalf.
The robot has a supposed win rate of 89%, and users can supposedly earn $1500 daily by investing $250 only. Bitcoin Up relies on advanced AI algorithms to identify tradable insights and execute winning trades.
The use of AI in trading robots is popular with leading Wall Street investment banks and hedge funds and is only applied to sophisticated investors’ accounts. Bitcoin Up is among the few AI-powered auto trading algorithms that are available for the ordinary person.
Even better, the robot doesn’t charge any license fees. Most top-performing crypto trading robots charge annual license fees of up to $5000. The steps below should kick start your trading journey with CodexFX through the Bitcoin Up robot.
Register a free account with Bitcoin Up
Visit Bitcoin Up website to register for a free auto-trading account. You will be prompted to verify your contact details and agree to the robot’s terms and conditions.
When the registration is successful, you will be redirected to CodexFX page to verify identity and deposit trading capital. ID verification is inevitable in all brokers with operations in the UK, Australia, and the US.
It involves submitting a scanned copy of a government-issued identifying document and a recent utility bill showing current address. It only takes about an hour for CodexFX to verify users ID. You can proceed to deposit and trade demo as your account is verified.
All trading carries risk.
Deposit at least 250 USD in trading capital
You need an account balance of at least 250 USD to participate in live trading with Bitcoin Up. Account funding happens through CodexFX and can be through any debit/credit card or bank transfer. You can also use Neteller, WebMoney, Skrill, and bitcoin.
CodexFX facilitates all deposit instantly. This means that you can start trading immediately after deposit. Your billing data is safe with this broker since their payment systems are RSA encrypted. Moreover, they are compliant with GDPR and hence can’t share users’ data without permission.
Demo and live trading
You should trade with the Bitcoin Up demo account for at least 30 minutes to familiarize with the live trading platform. Also, read the provided Bitcoin Up trading guide carefully by starting to stake real money.
Live trading should be easy if you have read and understood instructions and practiced them on the demo account.
Is CodexFX legit? Final word!
This review finds CodexFX to be legit. This broker is adequately regulated and is a partner of reputable brands such as Bitcoin Up. You need to use this broker through the Bitcoin Up trading robot to get the best out of it. Register with Bitcoin Up through the link below.
All trading carries risk.
Is CodexFX a scam?
No! CodexFX is a legit broker monitored by tier-one bodies including the FCA, ASIC, CYSEC, and FSB.
How much should I invest with CodexFX?
You need an account balance of at least 250 USD to trade with CodexFX through Bitcoin Up. This amount can generate a decent profit under favourable market conditions.
How do I withdraw from CodexFX?
Click the withdraw button on Bitcoin Up live trading page to be redirected to CodexFX withdrawal page. Fill the withdrawal form and wait for up to an hour for funds to process.