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Cryptocurrency trading is exciting but also a risky venture, and platforms like CBEX have been trending in Nigeria lately for their unique approach to trading. But is CBEX a golden opportunity to leave the trenches or just another MMM in the crypto garment? Let's take a deep dive into what CBEX offers, its trading model, and whether it’s worth your time (and money).
A simple Wikipedia search would tell you that CBEX was founded in 2015 by Tristan Soreau in Singapore, and operates in Singapore, Australia, the U.S., and Hong Kong, covering more than 130 countries worldwide. Its full name is Crypto Bridge Exchange. What we know is that CBEX is a cryptocurrency trading platform that allows users to trade using signals provided in their Telegram group. Initially, users could trade twice daily—one signal in the afternoon Nigerian Time and another in the evening. The idea was simple: follow their expert signals and make profits.
They require a minimum deposit of $100 to start trading. However, they offer bonuses for referrals. If you get someone to start with $300, you earn a reward, and if they deposit $600, you receive three signals daily, theoretically increasing your profit. That's not all; the more referrals you have, the higher up the ladder, starting from VIP 1 to VIP 7.
Sounds enticing. But here’s where things get interesting.
While CBEX markets itself as a profitable trading platform, a few things raise eyebrows:
One of CBEX’s major claims is that its signals always end in profit. Now, anyone who has dabbled in crypto trading knows that no strategy is 100% successful. Markets fluctuate, and even the best traders experience losses. The idea of an infallible system is a classic red flag in the world of investments.
CBEX does have an app, but it’s not available on Google Play Store or Apple’s App Store. Instead, users must download it directly from their website. This is concerning because third-party app downloads can pose security risks, including potential malware or data theft.
While CBEX does allow users to withdraw funds at any time, there’s a catch:
If you withdraw before completing a 34-40 day trading cycle, you are hit with a massive 20% withdrawal fee.
This raises liquidity concerns and whether the platform genuinely holds enough funds to support smooth withdrawals.
At the time of this research, I discovered two domain names, https://cbex9.com/ and https://cbex-dex.com/, both pointing to the same site. When checked on Whois.com, here’s what I found:
cbex-dex.com: Registered On: 2024-11-13 | Expires On: 2025-11-13
cbex9.com: Registered On: 2024-09-25 | Expires On: 2028-09-25
Both domains were registered with Gname.com Pte. Ltd. in Singapore.
Recently, CBEX introduced a feature called Hosting, where users turn on an AI-driven trading bot that supposedly makes all the trades for them. According to the platform, this AI guarantees 100% profit on every trade.
Now, AI in trading isn’t new. Many legitimate trading platforms incorporate AI algorithms to optimize trades. However, the claim that it never loses is extremely unrealistic. Even the best hedge funds with advanced AI models experience losses. This "too good to be true" promise raises concerns about how CBEX is generating these profits and whether it’s sustainable.
A deeper dive into online discussions and expert analyses reveals mixed opinions:
Some users praise the platform for its easy-to-follow signals and structured trading model.
Others warn that the guaranteed profits and high withdrawal fees suggest a possible Ponzi-like structure.
No official regulatory approvals have been found for CBEX, adding to the skepticism.
On their site, they did put some documents, but after taking a deep dive into them, a few things stood out:
It was registered as a non-profit.
The document of initial name registration does not serve as a license. Here is an excerpt from the document obtained from FinCEN:
"Information contained on this transcript has been provided to FinCEN by the money services business registrant. FinCEN does not recommend, approve, or endorse any business that registers as a money services business. Any such claim and similar claims are false and may be part of a scam or attempt to deceive consumers."
The business’s sole owner is Tristan Soreau, but who is he? If you have any pictures of him, do share because I’ve searched and found nothing.
Below are documents from FinCEN, and from their site do take a look and make your conclusions.
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The Above document was taken from CBEX9.com, and it shows it is a Non-profit.
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This second document was obtained from FinCen's website, you can read what it clearly states.
Challenge: If you find any valid regulatory approval for CBEX, send it to me via email, and I'll update this article accordingly!
For further reading, check out these sources:
While CBEX presents an organized trading model, there are multiple red flags. High withdrawal fees, guaranteed profits, and referral-based incentives are major concerns.
Yes, but if you withdraw before completing the trading cycle (34-40 days), you will incur a 20% fee, which is quite steep.
There is no verified regulatory approval for CBEX. If you find one, share it, and we will update this article!
CBEX claims its AI trading bot guarantees 100% profit. However, such claims are highly unrealistic, as even top trading firms experience losses.
While CBEX presents an enticing trading model, several red flags make it a risky venture. The combination of guaranteed profits, referral-based incentives, high withdrawal fees, and an AI trading model that claims 100% success is enough to make any seasoned trader skeptical.
If you're considering CBEX, it’s crucial to do thorough research and only invest what you can afford to lose. Crypto trading is volatile, and no platform can guarantee profits every time. Stay cautious, stay informed, and always prioritize security when dealing with online trading platforms.
This article is for informational purposes only and should not be considered financial advice. Cryptocurrency trading carries significant risks, and you should always conduct your own research before investing in any platform. The information provided here is based on publicly available sources and personal analysis. Always exercise caution when dealing with online investment schemes.
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