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Coinexx review and ratings

Established 2017
Location Saint Vincent and the Grenadines
Regulation None
Offices Kingstown, Edinburgh
Broker type STP
Leverage up to 1:500
Deposit from 0.0001 BTC
Spreads low  low
Platforms Web MetaTrader 4 MetaTrader 5
Instruments Currencies Crypto Indices Metals Energies
Funding methods VLoad Bitcoin Ethereum Liteсoin Dash

Company information

Coinexx is a legally registered forex broker located in Saint Vincent and the Grenadines, but not regulated by any government agency.

Availability

Coinexx accepts clients from all over the world, excluding some countries where restrictions apply.

Distinctive features

Trading instruments

Forex broker offers the following underlying assets for trading.

50+ Currency Pairs Based on major and minor world currencies.
5 Crypto Pairs Based on Bitcoin, Bitcoin Cash, Ripple, Ethereum, Litecoin.
11 Indice CFDs Based on baskets of different blue-chip stocks.
2 Metal Spot CFDs Based on Gold and Silver.
3 Energy Spot CFDs Based on Crude Oil (WTI, Brent) and Natural Gas.

Comprehensive review

Founded in 2017 with a mission to disrupt the more traditional forex and CFD brokers that relies on slow deposits and withdrawals via bank wire transfers, Coinexx differs from most other brokers around as it accepts deposits primary in cryptocurrencies rather than national fiat currencies. Although, clients are able to use VLoad payment system to make a deposit in USD, if they feel like it.

Despite its young age, more than 5,000 accounts have been opened on Coinexx so far, giving credibility to the brand and the way it operates. The start-up broker is reportedly backed by veterans with extensive experience from the financial industry, a sign that key personnel at the brokerage knows the business and understand what traders need and don’t need to succeed.

Coinexx Inc. is registered in St. Vincent and the Grenadines, a popular offshore hub for many forex brokers these days. The offshore status of this broker means that it is not subject to the strict regulations that we often associate with European and US-based brokers, which in many cases can translate into more favourable trading conditions for retail traders who know what they are doing.

As an example, leverage is generally much higher with offshore-registered brokers than it is with the traditional onshore companies. In the case of Coinexx, leverage goes up to 1:500 on the most liquid assets. When compared with the maximum 1:30 leverage that European brokers are allowed to offer, everyone understands that there is an enormous benefit in using offshore brokers for traders who have the discipline and risk management know-how it takes to deal with significant leverage.

Another nice benefit with Coinexx is that it is possible to sign up and get started trading with a minimal amount of hassle, and without the need to go through the cumbersome ID verification process that most other brokers require their traders to complete. When combining this with anonymous deposits in cryptocurrency, it means that traders have the opportunity to trade and profit completely anonymously with Coinexx. This opportunity may turn out to become one of Coinexx’s strongest selling points over time, in particular among traders who value their right to online and financial privacy.

As we already mentioned, Coinexx distinguishes itself from other brokers by accepting deposits primary in cryptocurrencies. The selection when it comes to accepted cryptocurrencies, however, is still fairly large, with bitcoin, Litecoin, dash, ether, and 25 other cryptocurrencies supported. The minimum deposit and withdrawal amount is set to 0.001 BTC.

Once an account has been funded, new traders are welcomed with a 100% welcome bonus on their first deposit of USD 100 or more. The welcome bonus effectively works as additional bonus in the trading account, allowing a trader to significantly boost his or her profit potential.

Instruments offered for trading includes more than 60 forex pairs, commodity and equity index CFDs, and cryptocurrencies Bitcoin Cash, Ripple XRP, Litecoin, Ethereum, and Bitcoin. Spreads are listed transparently on the broker’s website, and are generally very tight – starting from 0.0 pips. Meanwhile, commissions are charged at about USD 2 per lot, with 0.01 lots being the minimum trade size on the broker’s standard Pro ECN Account.

In terms of trading platforms, Coinexx is another MetaTrader-only broker, although it does offer both the MetaTrader 4 and 5, as well as web and mobile versions of both platforms, which means all platforms will be familiar for users of this classic trading platform.

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