MX 

It’s a big scam. No payout possible

Positive reviews of Margex.com…
Positive reviews of Margex.com (cumulative)

Upto 31/12/21 -- 10
Upto 31/12/22 -- 13
Upto 31/12/23 -- 18
Upto 31/12/24 -- 44
January 2025 72 reviews, 116 cumulative

So we are to believe that in one month we have had nearly twice the positive reviews over the previous 5 years.

Yes, really

So Margex.com flagged this review for derogatory content. How can the sum of reviews be derogatory - anyone can see the reviews by date on this site- take a look, 72 in January. Quite a few in Feb too. 44 in total over the 5 years prior to Dec 2024. I hope it doesnt need spelling out any more. Why these reviews are allowed to remain is beyond me

Margex stole 9 Bitcoin from me!

Margex is actively stealing $Millions from its users . . .TrustPilot needs to warn people that!
Trustpilot should not be making life difficult for reviewers trying to warn other people, it the entire purpose of Trustpilot!

BE WARNED: MARGEX IS A SCAM!!

I am an entrepreneur and investor, I realized that if Trump was to win the USA election this would result in Bitcoin price going up, so in October I started to look to learn how to leverage trade.

Youtube searches led me to:

Several YouTube influencers who were recommending MARGEX.

I also looked up MARGEX on TrustPilot, and back in October 2024 their scores and customer experiences were good. I also checked out MARGEX reviews on other sites, and they seemed to be good so I proceeded.

Note "Date of experience" on all of their recently posted 5 star reviews!

Had I know how easily Margex can game Trustpilots system, and how difficult it is to leave a 1 star review and not have it not taken down I would have behaved differently.

Truspilot keeps removing legitimate complaints from customers who have not just had a bad customer experience, but suffered criminal theft!!

I persist posting my story so others are not robbed of a life changing amount of money as I have.

I learned how to Margin trade, and the irony is, I really liked MARGEX UI, I also tested MARGEX with some small deposits and withdrawals, and it worked, so I took the leap and deposited 2 Bitcoin worth (Combination of Bitcoin and Solana)

On US election night I waited for the election results and when Polymarkets odds swung in Trumps favour I placed many high leveraged trades.
The strategy was successful! The leverages trades increased my 2 Bitcoin to 11 Bitcoin!! Then valued at $1,089,627.

This is a life changing amount of money, so on 17th November my Wife and I decided to pullout 3.4 BTC and carry on trading the rest.
This is when I was asked for KYC information and Proof of Funds.
I was not concealing my identity so this was not a problem, and proof of funds was clear, Stocks and Shares ISA’s sales to buy BTC on Coinbase, so no money laundering going on here.

However the wallet withdrawal remained “Pending”
This is when 1 star reviews really started to explode in TrustPilot, however most seemed to be USA users (Banned from the site) or XRP traders. I am from UK, clear source of funds, and not broken any terms and conditions, so I thought I may still be OK, hoping MARGEX may not be a scam.

My withdrawal remained “pending” and I was starting to notice many more 1 star reviews, and videos on YOUTUBE of bad experiences, so on 5th of December I placed withdrawal requests for my remaining balances (5.3 BTC and 722 SOL)

Then Friday 13th Dec I received the dreaded email that many other customers have received, telling me I had breached their Terms of Service, my account had been permanently blocked, all transactions reversed and that I would be refunded only my deposits!!

Not only was MARGEX stealing all of my profits, in the course of getting those Profits I had paid over $350,000 to Margex in funding fee’s and commissions. (10x higher than legitimate exhcnages)

Update 6th Jan - Margex closed my account, returned my deposit and kept my 9 Bitcoin that I had in profits.

This is a scam exchange, and Trustpilot needs to stop removing negative reviews and enabling Margex game their system.

I have documented screenshots to verify every step I have outlined here, nothing is in anyway false.

STAY AWAY FROM MARGEX – IF YOU MAKE PROFIT THEY WILL STEAL IT FROM YOU, IT IS A SCAM!!

Very shady. I dont trade big accounts there but I noticed that on the start of my trade the commision was 0.7 usd not much but once I closed it, it switched to 0.87 usd. I tried to contact the team about this ongoing stuff- no answer

Confusing for someone completely new to trading. Presents at a beginner level user and the layout and options the app are basic but too basic .I lost my investment within 48 hrs so yah not happy

3 previous reviews I wrote have been removed from here. I'm leaving this review so hopefully people don't have the same negative experience I and many others experienced.

I have tried for an extended period of time to ask customer service why none of my XRP has been credited to me. All they do is give me the same cut-and-paste response.

I have no indication that I will ever get my XRP back as the price of the asset continues to skyrocket, I (and many others) will be left behind. Years of careful investing disappeared overnight.

Took my money and refuse to allow me to withdraw. Has been sitting as Pending for weeks.

Super smooth deposit system and fast credits for deposits. Withdrawals happen once a day in a two-hour time window.

Today our company used Margex and it went smoothly. Small profit and we received our withdrawal with no issue.

How can the Margex support team find the time to flag all my reviews and have them removed from TrustPilot, but they can't reply to any of my emails, let alone refund my account balance on their crypto exchange? Read fast everyone, because I'm sure this will be removed again :( Time to stand up against injustice and never give up!

Update 6 Jan:
Margex is trying their utmost to have TrustPilot to remove my genuine reviews. They flagged this review for defamatory content, which TrustPilot correctly determined to be untrue. I do hold my breath though for any update posted because Margex keeps trying to get them deleted. That said, saidly to date I still have not received my USDT 11,536.57 back from Margex, despite USDT 9,000 of that amount being a deposit made on 10 November 2024. I know Margex reads these reviews, so check account reference code 64987366 and my emails sent, and rest assured that I will keep posting reviews until I receive at least my deposit back!

I love how the Margex support team has the time to flag my previous review, but they cannot give me any feedback about the funds that they owe me through their Copy Trading platform

Margex.com are absolute scammers my total balance shows excess of $897 and available is $10,
I have messaged and asked why this is and was given a transaction number and told in was awaitng.
I have messaged for 2 weeks now asking for updates, I have been completely ignored, on top of that all XRP trades were liquidated.
No one is entitled to money back!!! despite them saying all trades will be reverted back to the 10th November!!
All emails and screen shots have been ignored.
Absolute scammers is all can say and I have friends and family all in the same position.
They have ruined families Christmases especially those who made a lot of money on trades, yet they have been told they were trading unofficially, What a load OF ****** The fact was 3rd parties were not prepared for the trades made!!
Margex have made huge amounts of money on their XRP scandal they should be ashamed of their selves.
I hope everyone who they have also scammed will get a positive outcome.
DO NOT INVEST, DO NOT TRUST!!!! Shocking…..messengers when you say you will pass details onto the team, don't bother you obviously are the team and just keep passing the buck.....

Margex Review: A Continued Disappointment with KYC Process

This is my second review within a week regarding Margex and the ongoing issues I’ve faced with their KYC process.

In my first review, I detailed how Margex froze my withdrawals and subsequently locked me out of my account, requesting substantial KYC information. After posting the review, Trustpilot reached out to inform me that Margex would work with me to better understand my situation and resolve the issue regarding my account.

I sent a detailed explanation of the situation, hoping for a resolution. I patiently waited for contact from Margex, expecting them to assist in unlocking my account. However, yesterday morning, I received an unexpected email from Margex informing me that my account had been permanently terminated.

At this point, I’m hoping this is a misunderstanding and I’m giving Margex the benefit of the doubt, hoping they will rectify the situation and reinstate my account.

Meanwhile, I am still awaiting a response from Trustpilot regarding my previous correspondence, which involved a complaint about Margex following my first review.

I will continue to post updates on this situation to ensure that current and potential Margex clients are aware of the difficulties I’ve been facing.

FYI: Below is the email I received from Margex. Please note that I do not reside in any of the restricted countries they mention, and no money has been refunded to me, even though I’ve been locked out of my account for almost two weeks.

Margex's Email:

Dear User,

After thorough investigation, our security team has confirmed prohibited activity on your account that violates our Terms of Service and acceptable use/conduct.

We regret to inform you that, due to this, and in accordance with paragraphs 13.1 and 4.6 of our Terms of Service:

Your account on Margex has been permanently blocked.

The following actions have been taken in regards to your account:

All trades executed on the account and any cryptocurrency obtained in violation of the Terms of Service have been fully reversed in accordance with paragraph 7.7 of the Terms of Service and applicable regulations;
Any P&L settlements and the transaction history of trades executed through Margex have been cancelled and nullified, and thus cannot be used for tax or other financial purposes;
Your deposits have been fully refunded. The amount eligible for withdrawal equals your fully refunded deposits, excluding any withdrawals previously made from the associated Margex account.
Upon reviewing your account, we have observed that the total amount withdrawn already exceeds the deposits made to the associated account. Thus, no further actions will be taken, and the account has been terminated.

Regards,
Margex Compliance Office

This situation is incredibly frustrating, and I will continue to share updates. Stay tuned.

Withdrawal pending and they will not let you take profits.

I gave a review before and deleted it. This and updated review. Not to be trusted as they can do what ever they want to with your assets. There is no KYC so no liability. This what they did. And not refunded (Due to At Margex we aim to utilize the most advanced infrastructure and features that allow us to provide some of the most competitive and convenient trading conditions on the market. As part of this infrastructure, orders are passed through for execution at counter-parties that provide market liquidity for our platform as well as numerous other advantages, including but not limited to - tighter spreads, better entry/exit pricing and vast liquidity.On December 4th, 2024, we have received a notice from our liquidity providers/counter-parties that due to extreme market volatility and surging demand for XRP, the auto-deleveraging mechanism for the XRPUSD trading pair did not function as intended. Following the liquidation of short positions, the corresponding long positions were not deleveraged, resulting in a counterparty incurring unprecedented negative balances, refusing to settle XRPUSD trades, and requiring us to clawback previously settled trades.To prevent further disruption and potential cascading issues, trading for the XRPUSD pair was suspended to allow time to address the problem and ensure market integrityDue to these developments, and in accordace with paragraph 4.16 and 7.8 of our Terms of Service XRPUSD will be delisted from the platform for the time being until further notice and the following actions will be taken in regards to all XRPUSD trades:- All currently open XRPUSD positions, as well as active limit and stop market orders will be cancelled. Any fees/funding incurred as well as the margin reserved for these trades will be fully refunded and returned to your wallet balance.- Any XRPUSD trades closed since 00:00 UTC on November 10th, 2024 to the current date will be fully reverted - (this includes any Profit as well as any Losses that you had previously sustained). Trades liquidated during this time will also be fully refunded.- Copy Trading: Followers' and Traders' equity will be affected accordingly based on any reversed/refunded XRPUSD trades made within the corresponding Copy Trading StrategyOnce we are sure that the counter-parties are able to fully support and fill all incoming XRPUSD orders, we will reinstate the XRPUSD trading pair on Margex.)

This was sent to me by you. I still have not received a refund.
Why are you not responding?

SCAM EXCHANGE LOST 100k USDT blocking withdrawals wish I read reviews sooner,

UPDATE- Just as I was expecting, this platform is a complete scam, they locked away all my profits away form me with no avenue to retrieve them. They didn't tell me what I did wrong and give no communication. Don't fall for this platform stay far away!
I submit a withdrawal and get flagged for a security check which is no problem, I submit my documents and they inform me that it is under review and be expected to be completed within 0-8 days. It is now much over this with no response or update from the compliance team with numerous emails sent. Then today I go to login into my account and now its asking for a 2FA code which I have never enabled on my account and have never had any issues before so I am locked out of my account with over 60 trades open that I need to actively monitor. I have been reaching out to support all day with no response. My withdrawal ID is 4772314889, if someone from Margex is willing to help rectify this situation.

I recently wrote 2 negative reviews both having 1 star but today I will give them 2 stars because they have FINALLY refunded my xrp however, I did not receive my gains. I’m happy that I at least got back what I put in.
Thank u Margex.com I really thought I would be able to enjoy your platform a lot longer than I did 😔

Margex allowed me to deposit funds and trade. They claim no KYC, however, once I started withdrawing earnings, they froze my account. stay away