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COINEXX Review

 

 

Overall, Coinexx offers a Pro ECN account and a demo account. Trading platforms MetaTrader 4 and MetaTrader 5 can be used. Coinexx offers only one live trading account known as the ‘Pro ECN account’, which offers floating spreads that start from 0 pips.

 

 

COINEXX at a Glance

 

📅 Year Founded2017
📍 Head Office
Saint Vincent and the Grenadines or Seychelles
⚖️ Financial Regulatory Bodies
Not regulated
📈 Managed accounts
Yes
📊 Institutional accounts
Yes
☪️ Islamic AccountNo
💰 Minimum Deposit
0.001BTC / R 389,68
👍 Demo Trading Account available
Yes
🌐 Countries not accepted for tradeThe USA and some other countries.
💰 Withdrawal options
Bitcoin, Litecoin, Ethereum, True USD, Germini USD, USDC, Bitcoin cash, Zcash, Monero, Binance coin, OmiseGo, Lisk, Siacoin, NEM, Monaco, Stratis, Dash, Dogecoin, Ether Classic, Neo, BlackCoin, NXT, and Pot Coin.
📒 Deposit optionsBitcoin, Litecoin, Ethereum, True USD, Germini USD, USDC, Bitcoin cash, Zcash, Monero, Binance coin, OmiseGo, Lisk, Siacoin, NEM, Monaco, Stratis, Dash, Dogecoin, Ether Classic, Neo, BlackCoin, NXT, and Pot Coin.
💻Platform(s) providedMetaTrader 4 and MetaTrader 5
🖥️ OS compatibility
Mac, Windows, Linux, Web, Mobile Android, iPhone, iPad.
📈 Tradable assets
60 forex pairs, cryptocurrencies including bitcoin, litecoin, and Ethereum, as well stock indexes, precious metals, commodities like Oil, Gold & Silver, and CFDs.
📓 Languages supported on the websiteEnglish
📓  Customer support languagesEnglish
☎️ Customer service hours24/7
Maximum Leverage1:500
👉 Open a account👉 Click Here

 

Overall Rating

4.3/5

Rated #536 of 
Recommended FX Brokers

💰Minimum Deposit
🌐 Regulators
📱 Trading Desk
Crypto

📈 Total Pairs

☪️ Islamic Account
📊 Trading Fees
🕒 Account Activation Time
🏛️ Visit Broker

 

COINEXX Review – 18 key points quick overview:

 

 

COINEXX is a forex broker company in Saint Vincent and the Grenadines. Coinexx Ltd also lists an address in Seychelles.

A Forex broker like Coinexx provides traders with access to one or more platforms that will allow them to buy and sell foreign currencies. Retail currency traders use these broker companies to gain access to the 24-hour currency market for speculation purposes.

Forex broker services can also be provided for institutional clients and large companies such as investment banks.

 

Coinexx was established in 2017 and is an offshore and unregulated broker for investors with Cryptocurrency. Many traders prefer Coinexx for its high leverage and less restrictive trading conditions over the safety of the regulatory oversight.

 

Coinexx does not restrict accounts based on the client’s country of residency but traders should check their local regulations to avoid them, where prohibited.

 

This broker offers Metatrader MT4 and MT5 platforms, with both versions available for PC and Mac desktops, Apple and Android mobile devices, and also as a WebTrader.

 

Coinexx investment instruments include over 60 forex pairs, cryptocurrencies including bitcoin, litecoin, and Ethereum, as well stock indexes, precious metals, and commodities such as CFDs.

The Coinexx product list includes; Forex Trading, Crypto Currency, Global Indices, and Commodities like Oil, Gold & Silver.

 

Coinexx withdrawals and deposits are only available with cryptocurrencies, and no deposit and withdrawal fees are charged.

 

You can create multiple demo trading accounts to test the ECN platform. Their account minimum deposit is 0.001 Bitcoin, which is about $5.00.

 

The maximum leverage ratio available is 500:1, but on Crypto, it is only 5:1.

 

Withdrawals are apparently processed manually and not automatically, therefore, there may be somewhat of a delay until someone can approve your withdrawal before you will receive it.

 

Coinexx has partnered with premium liquidity providers (LPs) to give traders competitive spreads and speedy executions. The broker aggregates its prices from a deep liquidity pool of Tier 1 banks and premium providers to offer true ECN spreads starting from 0.0 pips. There is no dealing desk (NDD) and minimal requotes.

 

COINEXX Awards and Recognition

 

In the world of forex broker companies being honored with awards from esteemed organizations or publications, count much for the company’s reputation. Such awards are usually mentioned with pride on the company website.

 

Although Coinexx is rated highly by some customers in personal reviews on review websites, there is no information available on the Coinexx homepage or elsewhere about any awards received by them.

 

COINEXX Accounts

 

COINEXX Accounts

 

A forex account is a trading account held by a trader with a company like Coinexx, that is issued with the primary purpose of trading through its platforms. Usually, the number and type of accounts that a trader can open with a broker company differ according to the country in which the brokerage operates, the country of residence of the trader, and the regulatory authorities under whose jurisdiction it operates.

 

Accounts usually differ in the way spreads or commissions are applied, what minimum deposit is needed to open that type of account, and certain services or advantages that account holders may get access to.

 

In the case of Muslim customers, special Islamic accounts, that is swap-free accounts, are offered that mirror the other account types, but which operate in accordance with Shariah law.

 

Overall Rating

4.3/5

Rated #536 of 
Recommended FX Brokers

💰Minimum Deposit
🌐 Regulators
📱 Trading Desk
Crypto

📈 Total Pairs

☪️ Islamic Account
📊 Trading Fees
🕒 Account Activation Time
🏛️ Visit Broker

 

COINEXX Types of Accounts and Their Features

 

Coinexx offers a Pro ECN account and a demo account. Trading platforms MetaTrader 4 and MetaTrader 5 can be used. Hedging, scalping, expert advisors, trailing stop, pending orders, one-click trading, mobile trading, and automated trading is possible on the account. The minimum account size is $7 and the minimum position size is 0.01 lot.

 

📍 Spreads are variable as follows:

➡️ Typical spread on EUR/USD, pips 0.02

➡️ Minimum spread on EUR/USD, pips 0

➡️ Commission (one-way) per 1 std. lot $2

 

Coinexx does not currently offer swap-free Islamic accounts for Muslim traders.

 

Coinexx Deposits and Withdrawals

 

COINEXX Deposit and Withdrawal

 

Coinexx

Clients can maintain their accounts in both cryptocurrencies and fiat currencies. MT4 accounts are maintained in USD or EUR, but MT5 account base currencies are EUR, USD, BTC, LTC, ETH, BCC, and XRP.

 

📍 Deposits can only be made in cryptocurrencies. The following cryptocurrencies can be used:

💳 Bitcoin,

💳 Litecoin,

💳 Ethereum,

💳 True USD

💳 Gemini USD,

💳 USDC,

💳 Bitcoin cash,

💳 Zcash,

💳 Monero,

💳 Binance coin,

💳 OmiseGo,

💳 Lisk,

💳 Siacoin,

💳 NEM,

💳 Monaco,

💳 Stratis,

💳 Dash,

💳 Dogecoin,

💳 Ether Classic,

💳 Neo,

💳 BlackCoin,

💳 NXT,

💳  Pot Coin.

 

If the account currency is different from the deposit currency, it will be converted at prevalent market rates. Traders must transfer to the correct address given by Coinexx to avoid loss of the cryptos.

 

Withdrawals are processed manually within 48 hours. Clients can only withdraw in the same currency as their crypto wallet, with a minimum withdrawal being $5.

 

Coinexx Cost and Fees, Commissions, and Spreads

 

Coinexx  COST AND FEES, COMMISSIONS, AND SPREADS

 

The cost of trading depends on different factors like commissions, spread, and margins.

 

Commissions are the charges imposed by an investment broker on a trader for making trades on the trader’s behalf. The level of commissions depends on the asset being traded and the type of service offered by the broker.

 

Execution-only brokers, who do not involve in personal investment advice and give traders complete control over how they trade the markets, usually charge lower commissions.

 

While the contract for differences (CFDs) trading is a form of derivative trading that enables traders to speculate on the rising or falling prices of fast-moving global financial markets, its trading on shares will incur a commission. CFD trades on other markets have no commission but do wrap a spread around the market price of a certain instrument.

 

Coinexx offers only one live trading account known as the ‘Pro ECN account’, which offers floating spreads that start from 0 pips. Commissions of $2 per lot or its equivalent are charged on every trade. The minimum trade size is 0.01 lots and the maximum is 100 lots.

 

Coinexx does not charge deposit fees but a banking or blockchain fee may apply if paying with cryptocurrency.

Coinexx does not charge any inactivity fees.

 

Overall Rating

4.3/5

Rated #536 of 
Recommended FX Brokers

💰Minimum Deposit
🌐 Regulators
📱 Trading Desk
Crypto

📈 Total Pairs

☪️ Islamic Account
📊 Trading Fees
🕒 Account Activation Time
🏛️ Visit Broker

 

COINEXX Leverage

 

COINEXX Leverage

 

Leveraged product trading magnifies a trader’s potential profit – but of course, also increases the potential loss. This facility that enables traders to get a larger exposure to the market than the amount they deposited to open a trade, is called leverage.

 

Traders should always keep in mind that, although high leverage offered may be a plus point for the brokerage, trading at such high leverage should only be attempted by experienced traders that know how to prevent big losses.

 

Coinexx allows its traders to use a maximum leverage ratio of up to 1:500 for Forex, Gold, and silver, CFD, Oil, Indexes, Metals, and Energies, but for Cryptocurrencies only 1:5.

 

COINEXX Bonuses

 

COINEXX BONUSES

 

Forex brokers often lure new traders with offers of deposit bonuses. This can be useful, but it is essential to discern what the conditions are to really benefit from a bonus.

 

The bonus usually compensates traders for choosing a certain broker, since once the account is active, the trader will have the same expenses as any other. The bonus usually only starts giving some expenses back to the trader once the person has proved himself as an active trader.

 

Hence, although no deposit bonuses are a great way to help you start trading, the terms to benefit from it often require trading with such a high volume before you can withdraw profits, which may not be worthwhile.

 

According to the company website and other sources, Coinexx offers a 100% Tradable Deposit Bonus.

 

COINEXX Trading Platforms, Software, and its Features

 

COINEXX Trading Platforms

 

The forex trading software, also called the platform, provided by a broker company to its clients to carry out their trades can be a multi-asset one that allows clients to trade forex as well as other asset classes like CFDs on stocks, stock indices, precious metals, and cryptocurrencies.

 

Some companies provide their own proprietary platform, which may benefit traders due to specific characteristics developed by specialists employed by the broker, while others prefer to provide the better-known platforms that were tried and tested over time. If there is a choice, the trader should keep in mind what he would like to trade and find the platform that suits his needs best.

 

Coinexx offers the popular MetaTrader platforms developed by software company MetaQuotes.

 

COINEXX Markets, Products, and Instruments

 

COINEXX Market Instruments

 

📍 Most brokers offer all or some of the following market instruments for trading:

Forex:

Forex trading, or currency or FX trading, involves the currency exchange market where individuals, companies, and financial institutions exchange currencies for one another at floating rates.

 

Commodities:

As with currency exchange markets, commodity markets offer trading in contract-based tradable goods.

 

Indices:

Equity or stock indices can represent a specific set of the largest companies of a nation or they can represent a specific stock market.

 

Precious metals:

This involves the trading of gold, silver, and other precious metals as hard commodities that are contract-based tradable.

 

Energy:

The high volatility of energy prices due to political, environmental, and several other factors, is a typical feature of this product, making it a popular trading choice.

 

Cryptocurrencies:

📍 Tradable cryptocurrencies include the following:

Bitcoin (BTC) is the digital currency with the largest market capitalization and price levels and dominates 50% of the total crypto market cap.

Litecoin (LTC) is similar to Bitcoin but differs in terms of scalability.

Ethereum (ETH) is the second largest cryptocurrency after Bitcoin and allows developers to create smart contracts on a platform.

Ripple (RPL) is popular among big banks with the Ripple network a next-generation real-time gross settlement system.

Bitcoin Cash (BCH) was created as a new version of the blockchain with different rules.

Coinexx offers Forex, Indices, Cryptos, Commodities, CFDs

Coinexx offers a vast selection of 80 tradable assets. On the MT4 platform, only forex, indices, and metals are available but on the MT5 platform, clients can trade the following assets: 66 currency pairs, 2 Metals, 11 Indices, and 3 Oils.

 

 

COINEXX Safety and Regulation

 

 Coinexx  Safety and Security

 

Before deciding to join a brokerage company to start trading, a potential trader needs to establish whether a broker like Coinexx is safe and secure to trade with. One of the most reliable benchmarks to measure the safety of a brokerage is to establish which regulating authorities are watching and overseeing its actions and whether the company complies with those regulations.

 

In general, a so-called “offshore” broker tends to have a less favorable reputation and potential traders should think carefully before investing with them.

 

Secondly, the safety of clients’ funds should be guaranteed and in the case of the company defaulting or going bankrupt, a safety net of some sort would come in handy to prevent customers from taking more losses.

 

Coinexx is an offshore and unregulated broker that lists an address in Kingstown, Saint Vincent, and the Grenadines.

 

Whilst the fact that Coinexx is not regulated by any financial service regulator in any country may deter some traders, it does mean that they can offer certain trading conditions that a regulated brokerage cannot due to strict regulations.

 

Coinexx however takes client fund safety seriously and implements several procedures to secure funds, namely cold storage wallet, manual monitoring, dual authentications, and end-to-end encryption.

 

COINEXX Customer Support

 

COINEXX CUSTOMER SUPPORT

 

Potential traders need to be assured that the broker company they chose can offer the necessary support and help whenever they may need it. The ease with which such support teams can be contacted may also play a role when choosing a broker.

 

The customer support team of Coinexx can be reached via a Callback service, email, live chat, Skype, and a web form. Its client support desk is available 24/7. Coinexx is also on social media; Facebook, Twitter, and LinkedIn.

 

COINEXX Education and Training

 

Before starting to trade, potential Coinexx clients should arm themselves with all possible information and trading skills needed to be successful in the world of forex and commodity trading. If Coinexx ’s website itself does not provide enough means, a trader should explore other information sources to obtain that skills and knowledge.

 

Coinexx doesn’t offer academic resources on its website.

 

COINEXX Research

 

Potential traders need to be enabled to do as much as possible research about speculative trading before commencing to do it and while trading with a specific brokerage. Trading successfully relies heavily on knowledge and understanding of the markets and the platforms offered by a broker, therefore research options offered by brokers form an integral part of its features when choosing the right company to trade with.

 

Coinexx offers research options like trading tools to download which can be added to the MetaTrader platforms to improve their functionality.

 

Coinexx also provides various calculators for clients to estimate trading costs, including a Forex calculator, Margin calculator, Pip calculator, Currency converter, PNL calculator, Commission calculator, and Swap calculator.

 

Conclusion

 

Overall, Coinexx offers a Pro ECN account and a demo account. Trading platforms MetaTrader 4 and MetaTrader 5 can be used. Coinexx offers only one live trading account known as the ‘Pro ECN account’, which offers floating spreads that start from 0 pips.

 

Disclaimer

 

Coinexx warns potential traders that Forex and CFDs trading always carries a high level of risk, therefore may not be suitable for all investors.

Before clients decide to trade the products offered by Coinexx, they are advised to contemplate their investment objectives, financial situation, needs, and level of experience carefully before investing money that they cannot afford to lose.

Especially when traders use Coinexx ’s leveraged accounts, they should make sure to maintain a sufficient level of margin to sustain their positions, since trading Forex/CFD and Options on margin and using a higher than necessary leverage can be either beneficial or detrimental to a trader. It is always possible to sustain a loss of some or all of an initial investment.

While Coinexx promises to make all efforts to fill a trade at the requested price, trading online does not necessarily reduce risks associated with currency trading, therefore quotes and trades are usually subject to the terms and conditions of a Client Agreement, which is accessible through the broker’s website.

Potential traders should first acquaint themselves with all these associated risks and seek advice from an independent financial advisor.

 

Overall Rating

4.3/5

Rated #536 of 
Recommended FX Brokers

💰Minimum Deposit
🌐 Regulators
📱 Trading Desk
Crypto

📈 Total Pairs

☪️ Islamic Account
📊 Trading Fees
🕒 Account Activation Time
🏛️ Visit Broker

 

Frequently Asked Questions

TRADING ENVIRONMENT

 

How many instruments can I trade with Coinexx?

You can trade several different instruments with Coinexx, which include the following:

  • 60 forex pairs,
  • cryptocurrencies including bitcoin, litecoin, and Ethereum,
  • stock indexes,
  • precious metal,
  • commodities like Oil, Gold, and Silver
  • CFDs

 

Which platforms are supported by Coinexx?

Coinexx provides the following popular trading platforms:

  • MT4
  • MT5

 

Does Coinexx offer leverage?

Yes, Coinexx offers maximum leverage of up to 1: 500

 

What spreads can I expect with Coinexx?

Coinexx has floating raw spreads starting from just 0.0 pips. Spreads change depending on the market conditions and liquidity providers.

 

Does Coinexx charge a commission?

Yes, commissions start from $4.

 

Are there additional charges on the Islamic account?

No, Coinexx does not currently offer swap-free Islamic accounts for Muslim traders.

 

Is Coinexx regulated and by whom?

Coinexx is not regulated.

 

Is Coinexx a recommended forex trading broker for experts and beginners?

Coinexx offers a fair trading environment for most types of traders.

 

What is the overall rating out of 10 for Coinexx?

5/10

 

ACCOUNTS

 

What is the difference between a demo and a live trading account?

A demo account as is offered by broker companies like Coinexx is usually funded with virtual money and gives a prospective customer the opportunity to experiment with the company’s trading platforms and its features, before setting up a real account that needs to be funded with the customer’s own real money.

 

Does Coinexx offer a demo account?

Yes

 

How long is the demo account valid?

The demo account can be used unlimited

 

Which live trading accounts does Coinexx offer?

  • Pro ECN account

 

Does Coinexx offer an Islamic Account

No, Coinexx does not currently offer swap-free Islamic accounts for Muslim traders.

 

What are the available deposit currencies for a live trading account?

EUR, USD, BTC, LTC, ETH, BCC, and XRP.

 

DEPOSITS AND WITHDRAWALS

What is the minimum deposit required to open an account with Coinexx?

0.001BTC, more or less $7

 

How do you make a deposit and withdraw money with Coinexx?

Coinexx offers the following deposit and withdrawal methods:

  • Bitcoin, Litecoin, Ethereum, True USD, Germini USD, USDC, Bitcoin cash, Zcash, Monero, Binance coin, OmiseGo, Lisk, Siacoin, NEM, Monaco, Stratis, Dash, Dogecoin, Ether Classic, Neo, BlackCoin, NXT, and Pot Coin.

 

Does Coinexx charge withdrawal fees?

Coinexx does not charge any withdrawal fees themselves, but you may be charged a blockchain fee if using cryptos.

 

How long does it take to make a withdrawal?

Withdrawals are processed manually within 48 hours.

Author Details

Louis Schoeman

Louis Schoeman

Featured Forex and Stocks writer

Table of Contents

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FINEXO Review

Overall, FINEXO is regulated by two tier-1 regulators, two tier-2 regulators, and four tier-3 regulators respectively. It has a high trust score of 97 out

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