Pros and Cons
Coinexx Company information
Coinexx was started with a firm belief in a cryptocurrency lead brokerage firm, in order to make things like delayed payments, high fees, and poor customer support a thing of the past. The financial veterans who initiated this firm knew the power of cryptocurrency to radically transform the forex industry and were ahead of their time in offering funding options including bitcoins, litecoins, dash, ethereum, and more.
Coinexx offers its services to people across the globe. It is only where trading is considered illegal and is not allowed by the government of that country, do they not have their presence.
Coinexx Trading platforms
Coinexx offers the MT4 trading platform, which is one of the most powerful trading platforms in the world. They ensure a low latency environment with fast execution of orders. Coinexx offers the usage of MT4 on its web, desktop, and mobile platform. Both manual and automated trading options are provided to the customers through EAs. Multiple charts can be set up at the same time, and stop loss and take profit can be used anytime, without any restrictions. The trading signals on its MQL5 software are by verified traders, making them more reliable. The mobile trading on MT4 is compatible with both IOS and Android software.
MT5 on Coinexx can be completely customized as per the requirements of both experienced as well as beginner-level traders. Various technical indicators can be used on this platform and traders get access to live prices at all times. It offers one-click trading that allows the opening of simultaneous windows and aggregation of open positions. Its various analytical tools and multiple charts are set up to make trading much easier and more flexible. The multilingual support it offers is yet another advantage that it provides to its clients. All in all, MT5 gives greater control to traders to control and use their positions to their advantage.
Trading accounts – Coinexx
The Pro ECN account of Coinexx is suited for all types of traders – scalpers, algo traders, as well as manual traders. Despite their low commissions, they are able to give tight spreads due to their tie-ups with prime liquidity providers and tier 1 banks.
They offer a 100% deposit bonus on their ECN account, and their trade size ranges from 0.01 lots to 100 lots.
MAM / PAMM Accounts
For those with less time or expertise for trading, Coinexx gives the option of trading through a Fund Manager. Here profitable block trades are executed by the Account Manager, for which a certain percentage of commission is charged. Real-time performance analysis is continually provided.
Coinexx Payment Options
Coinexx offers various cryptocurrencies as payment options. Dedicated crypto wallets are provided to all the clients, which are completely encrypted. Many measures are taken to ensure the safety of these private wallets.
In what might be considered unique by some, Coinexx insists on manual withdrawal of payments. This is done so that the risk of unauthorized access is completely eliminated. As a policy, all withdrawal requests are processed within 48 hours. The withdrawal can be made in any of the digital currencies listed with Coinexx.
Coinexx Trading Tools
While MetaTrader platforms are sufficient to meet the requirements of most retail traders, Coinexx goes a step further to provide additional tools that enhance the trading experience. Furthermore, the broker offers a boatload of free and paid trading tools to download, which can be added to MetaTrader platforms to improve their functionality.
Coinexx allows traders to access manager accounts, which are directly integrated into the MT5 trading platform. A manager registers new clients and trades on their behalf. The manager’s account can accommodate an unlimited number of accounts, which can be traded in bulk. The manager is free to use any trading strategy including EAs. Using MAM/PAMM software is a breeze, and it offers a wide range of features that include performance analysis, full reporting, and marketing tools. It also comes with multiple trade allocation types that can be set by the manager according to the capital or contribution of the trader. A manager requires a minimum of 4 sub-accounts and equity of at least $5,000 to start. However, the sub-account owners are required to submit ‘power of attorney forms. The broker takes no guarantee on how managed accounts will perform, and historical results will also be of no use to predict future performance.
This crucial tool is available in the MT5 trading platform. The tool is used in fundamental analysis to monitor the date and time of the occurrence of major global economic events along with analyzing their impacts on the market.
Coinexx Forex Calculator
Coinexx has several calculators that traders can use to know the estimations of trading costs. Coinexx currently has the following calculators:
- PNL Calculator
- PIP Calculator
- Margin Calculator
- Forex Calculator
- Commission Calculator
- Currency Converter
- Swap Calculator
Coinexx Virtual Private Server (VPS)
Coinexx offers VPS trading as well, which involves connecting the client’s workstation to a powerful server located in the proximity of the broker’s trading servers. This service ensures round-the-clock connectivity without interruptions along with good trade execution speeds and low latency. The server has a guaranteed uptime of 99.9%
VPS service is ideal for news traders, EA users, and other traders that use complex trading systems. Upon setting up the VPS service, the EA or trading system runs from VPS and the trader can enjoy fast and smooth trading, as there won’t be any interruption in the power supply, internet or hardware failure.
VPS service is free on Coinexx for clients who maintain a minimum balance of $5,000, while other clients can get the service for a monthly fee of meager $25.
Coinexx offers a huge selection of 80 tradable assets to its clients. On the MT4 platform, clients can trade forex, indices, and metals. Whereas on the MT5 platform, clients can trade significantly more assets that include, 66 currency pairs, 11 indices, 2 metals, and 3 oils. Coinexx has a limited quantity of non-FX instruments.
Coinexx has CFD instruments, which is a financial contract that pays the difference in price between open and close trades. CFDs allow traders to trade securities for the short-term and are quite popular in FX and commodities products. You can buy and sell CFD instruments without needing to physically own the asset.
Traders can trade CFDs with leverage, which allows them to trade a greater position size. For example, with 1:100 leverage, a trader having an account balance of $1,000 can trade $100,000 position size ($1,000 x 100 = $100,000). However, leverage also significantly increases the risk, therefore, traders must have a clear understanding of how leverage works before using leverage.
Coinexx Contact and customer support
Coinexx is 24/5 available for their clients. All the queries are answered via their website and app. They can also be easily contacted through their email address.
Account opening with Coinexx
Opening an account with Coinexx is very simple. Potential clients just have to visit their website and click on the ‘open an account’ tab. Next, the location needs to be selected, and personal information has to be filled in. Lastly, the amount has to be deposited, post which trading can be started. There is also the option of opening a demo account with Coinexx, for those who want to practice before they start trading.
Coinexx Minimum Deposit
Coinexx supports crypto deposits, and traders can start with a minimum deposit of 0.001 BTC.
Coinexx Demo Account
Traders can access the demo account on Coinexx, which is available in both MT4 and MT5 trading platforms. Traders can choose the desired volume of leverage and virtual money to trade and practice their strategies on a demo account.
What is Coinexx trading platform?
Coinexx provides the popular MetaTrader 4 and MetaTrader 5 platforms for web browser, desktop, and mobile trading apps for Android and iOS devices.
Where can I download Coinexx platform?
You can download the Coinexx trading platforms (MT4 or MT5) directly from the broker’s website, MetaQuotes, or the app store of your smartphone.
How do I open a Coinexx live account?
To open a live account on Coinexx, go to its website, click the ‘Open an account’ button located at the top of the webpage.
How do I verify my Coinexx account?
You can verify your account by giving proof of ID and the latest address proof, which shouldn’t be older than 6 months.
What is the minimum deposit in Coinexx?
The minimum deposit needed to trade is 0.001BTC.
How do I deposit money into Coinexx?
Coinexx allows you to fund your trading account using more than 25 cryptos.
What are Coinexx deposit fees?
There are no deposit fees charged by Coinexx, but you may have to pay a banking or blockchain fee (if paying via crypto).
How do I withdraw money from Coinexx?
You can easily withdraw your funds from Coinexx account via cryptocurrencies like Bitcoin and Ethereum.
What are the Coinexx withdrawal fees?
Coinexx doesn’t charge any withdrawal fees, but you have to pay a blockchain fee if using cryptos.
What is the Coinexx commission fee?
Coinexx has a nominal commission fee that starts from $4.
Are there any Coinexx inactivity fees?
Coinexx doesn’t charge inactivity fees.
What are the Coinexx account types?
Coinexx offers Pro ECN accounts and MAM/PAMM accounts.
Is there a Coinexx demo account?
Yes, you can open a free demo account on Coinexx. It consists of virtual funds so you can use those to test your trading strategies without taking any risk and find out what the broker offers before trading a live account.
What are the Coinexx spreads?
Coinexx has floating raw spreads that start from just 0.0 pips. Spreads depend upon the market conditions and liquidity providers.
What is the Coinexx leverage?
Coinexx provides a leverage of up to 1:500 for qualified traders.
Does Coinexx allow scalping, hedging, news trading & expert advisors?
Yes, Coinexx does not impose any specific restrictions on trading styles. All trading strategies and styles are permitted, which include hedging, automated trading with EAs, and news trading.
Does Coinexx offer a swap-free (Islamic) account?
No, Coinexx does not currently offer swap-free Islamic accounts for Muslim traders.
What are Coinexx trading instruments?
Coinexx clients can trade CFDs on FX currency pairs, cryptos, indices, and commodities.
Where is Coinexx located?
Coinexx is registered in St. Vincent and the Grenadines.
What countries does Coinexx not accept?
Coinexx does not provide services to American residents and some other countries.
Is Coinexx a scam?
No, Coinexx isn’t a scam. They are forex and crypto broker that focus on providing the best crypto CFD trading to traders who aren’t able to trade freely with other brokers.
How can I contact Coinexx support?
You can contact Coinexx customer support via telephone, live chat, email, and social media.
Coinexx is made as per the demands of future trading. Anyone who wants to trade in a variety of assets, with excellent trading conditions, can consider creating a trading account with Coinexx.