Abstract:Founded in 2017, COINEXX is registered in the United Kingdom. Coinexx is not regulated by any financial service regulator in any country. Most experts and professionals would not trade with an unregulated brokerage as they cannot offer investors the same protections that a regulated broker can.
Risk Warning
Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.
General Information & Regulation
Feature | Information |
Registered Country/Region | United Kingdom |
Found | 2017 |
Regulation | unregulated |
Market Instrument | Forex, Commodities, Stock Indices and Cryptocurrencies |
Account Type | Pro ECN |
Demo Account | yes |
Maximum Leverage | 500:1 |
Spread | From 0.0 pips |
Commission | $2/lot |
Trading Platform | MT4, MT5 |
Minimum Deposit | 0.001BTC |
Deposit & Withdrawal Method | Crypto wallets |
Founded in 2017, COINEXX is registered in the United Kingdom. Coinexx is not regulated by any financial service regulator in any country. Most experts and professionals would not trade with an unregulated brokerage as they cannot offer investors the same protections that a regulated broker can.
Here is the home page of this brokers official site:
As for regulation, it has been verified that COINEXX currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.46/10. Please be aware of the risk.
Note: The screenshot date is February 8, 2023. WikiFX gives dynamic scores, which will update in real-time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores.
Market Instruments
COINEXX offers investors 80+ trading instruments including Forex, Commodities, Stock Indices and Cryptocurrencies.
Account Types
Apart from demo accounts, COINEXX seems to only offer one live account type: Pro ECN account. The minimum deposit requirement by this broker is quite weird, that is 0.001 BTC. Most brokers would directly require $100-$200 or equivalent, while this broker asks traders to fund their accounts through cryptos.
Leverage
COINEXX offers traders a professional ECN account with a maximum leverage of up to 1:500. Leverage magnifies the returns from favourable movements in a currency's exchange rate. It's important that forex traders learn how to manage leverage and employ risk management strategies to mitigate forex losses.
Spreads
COINEXX claims to offer spreads from 0.0 pips and a commission of $2 per lot.
Trading Platform
COINEXX offers traders the world's most advanced MT4 and MT5 trading platforms. MT5 retains all the positive features of MT4, plus additional features such as faster execution speed (depending on the quality of the connection and the broker). And MT5 desktop version supports automated trading systems and custom technical indicators and also offers mobile applications as well as a web-based interface.
Deposit & Withdrawal
COINEXX supports traders to deposits via crypto wallets of Bitcoin, Litecoin, Ethereum, and more. The minimum initial deposit requirement is 0.001BTC.
Customer Support
COINEXX has a client support desk that is available 24/7 via email: support@coinexx.com, contactus@coinexx.com. One of the fastest ways to reach the support team is through instant web chat. You can also follow this broker on social networks such as Twitter and Facebook.
Pros & Cons
Pros | Cons |
• Wide range of trading assets | • No regulation |
• Demo accounts available | • Regional restrictions |
• MT4 and MT5 supported | • Only crypto payments offered |
Frequently Asked Questions (FAQs)
Q 1: | Is COINEXX regulated? |
A 1: | No. It has been verified that COINEXX currently has no valid regulation. |
Q 2: | At COINEXX are there any regional restrictions for traders? |
A 2: | Yes. COINEXX does not provide services for citizens/residents of the United States, Cuba, Iraq, Myanmar, North Korea, and Sudan. The services of Coinexx Markets Limited are not intended for distribution to, or use by, any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation. |
Q 3: | Does COINEXX offer demo accounts? |
A 3: | Yes. |
Q 4: | Does COINEXX offer the industry-standard MT4 & MT5? |
A 4: | Yes. Both MT4 and MT5 are available. |
Q 5: | What is the minimum deposit for COINEXX? |
A 5: | The minimum initial deposit with COINEXX is 0.001BTC. |
Q 6: | Is COINEXXa good broker for beginners? |
A 6: | No. COINEXX is not a good choice for beginners. Though it advertises very well, it lacks legitimate regulations. |
Disclaimer:
The views in this article only represent the author's personal views, and do not constitute investment advice on this platform. This platform does not guarantee the accuracy, completeness and timeliness of the information in the article, and will not be liable for any loss caused by the use of or reliance on the information in the article.
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