- Allow trading from $10
- Low trading fees
- Fast Execution Speed
- No Trading Restrictions
- Only Crypto funding
Offices in:United Kingdom
Minimum account size:$7
Minimum position size:0.01 lot
Table Of Content
Coinexx Review - Outline
|Headquartered||Saint Vincent and Grenadines|
|Platform Types||Complete MetaTrader Suite (MT4 & MT5)|
Coinexx Review - Synopsis
Coinexx is a globally distinguished forex broker that was established in 2017 and is located at Saint Vincent and Grenadines. Coinexx offer their brokerage services around the world excluding the countries where restrictions on trading are imposed. Coinexx offers trading in more than 60 forex currency pairs, Commodities, Cryptocurrencies and Global Indices CFDs to its clients. Coinexx is considered to be the best ECN broker that provides a deep liquidity pool to the traders.
Coinexx Review - Security Of Funds
Coinexx offers highly secured cold wallets with end-to-end encryption and multifaceted security. Certain features that ensures the safety and security of the funds are:
- Cold Wallet For Storage Of Funds : The private keys of the cold storage offered by Coinexx are not linked to the online devices and are kept in offline devices.
- Manual Monitoring Of Withdrawals : All the withdrawal processes are cross checked manually before processing. The requests are not sent by any automated or API, preventing any unauthorised activity.
- End-to-end Encryption : All the data transferred between the user and crypto solution is encrypted which makes it impossible for the third party to temper or decipher it.
- Dual Authentication : This is an extra layer of security added by Coinexx to ensure the safety and the privacy of the funds and information.
Coinexx Review – Trading Platforms
Coinexx offers a complete MetaTrader suite that includes MT4 and MT5 trading platforms.
Coinexx Review – MT4
MT4 is the most used trading platform among the beginners and the advanced traders. MT4 is considered to be an industry standard for forex trading, financial markets analysis and automated trading. This platform is a perfect traderworkplace to trade forex, commodities, global indices, cryptocurrencies.
Perks Of Using MT4 Trading Platforms
- MT4 offers numerous built-in indicators and tools
- Allows Manual and automated or EA trading
- MT4 platform has advanced analytical and charting tool
- Allows trading on desktop, Web or mobile
- Allows traders to set-up multiple charts
- Offers custom indicators and strategies
- Allows one-click trading
- Provides trading signals and copy trading
- Offers MQL5 community
Coinexx Review – MT5
MT5 is an upgraded version of MT4 that offers advanced tools and potential that may be required to execute your trading strategy. MT5 is an established multi-asset platform designed especially for the new traders. MetaTrader gives access to the real time charts, live prices, technical indicators, expert advisors & in-depth news & analysis. The flexibility of the MT5 trading platform offers outstanding opportunities and order management tools that help traders to control their trading positions swiftly and effectually.
Perks Of Using MT5 Trading Platform
- MT5 is flexible and fast trading platform
- Allows partial order filling
- MT5 platform allows multiple trading windows
- Allows trading on desktop, Web or mobile
- Allows trading from charts
- Allow multiple chart setup
- Custom technical indicators and strategies
- Allows one-click trading
- Provides multilingual support
Coinexx Review – Trading
Coinexx provides a best suited trading environment for both beginners and experienced traders. Coinexx offers MT4 and MT5 trading platforms with a wide range of instruments for trading. The minimum deposit to start trading Coinexx is $10 and is best for the beginners who want to start trading with low capital.
Coinexx Review – Advanced Trading
Coinexx offers diversified trading features that support advanced trading for experienced traders. These features include:
- Wide Range Of Asset Offerings : Coinexx offers trading in more than 60 forex pairs, Commodities including Gold, Silver, WTI Crude Oil, and Natural gas, Global Indices including all the major stocks, and Cryptocurrencies via CFDs. Coinexx can be a good choice for the experienced traders who want to trade multi-asset via CFDs.
- Fast Execution Speed : Coinexx being a pure ECN broker offers access to a deep liquidity pool that reduces the latency and improves trading efficiency by increasing the speed of execution of the trade. High execution speed also helps in reducing the chances of slippage. ECN platforms work the best for scalpers due to the low latency and high execution speed, spreads become tighter which reduces the overall trading fees.
- Negative Balance Protection : This is one of the main and attractive features offered by Coinexx. Negative balance protection doesn’t let the trading account go negative. Negative balance protection features are very important for traders who trade via CFDs due to the high risks involved.
- VPS Service : VPS is a Virtual Private Server that is offered by Coinexx that allows traders to remotely connect to the VPS located near to the data centre in Amsterdam.
Key Features Of VPS
- Uninterrupted 24*7 connectivity
- Access from any part of the world
- Ideal for Automated trading
- Fast execution and low latency
- Strong Security and 99.9% uptime
- Smooth functioning with optimal connection speed.
Coinexx Review – Technical Analysis
Coinexx allows traders to conduct their technical analysis on their trading platforms which are: MT4 and MT5. MetaTrader suite is the first coince of the traders due to the features and the flexibility the platform offers.
Coinexx Review – MT4
MT4 is a powerful trading platform that offers various technical tools like placing market and pending orders, trading from charts, stops, a tick chart and trading history. MT4 makes trading flexible and convenient for the traders.
Technical Tools Offered By MT4
- 3 execution modes
- 2 market orders
- 4 pending orders
- 2 stop-loss and a trailing stop-loss
- Interactive charts
- 9 time-frames
- 23 analytical objects
- 30 technical tools
Coinexx Review – MT5
MetaTrader 5 is a multi-asset trading platform that offers advanced tools for competitive price analytics. The platform offers a powerful array of tools available with a click of the mouse: a flexible trading system, technical and fundamental analysis, professional MQL5 development environment, multi-currency tester and alerts.
Technical Tools Offered By MT5
- MT5 supports both order accounting systems- the traditional netting system and the hedging option system and is flexible to use
- Fundamental Analysis
- Multiple order windows
- Partial order filling
- Custom indicators and added widgets
- Advanced charting tools
- Offers 21 time frames
- Algorithmic Trading
Coinexx Review – Accounts
Coinexx offers two trading accounts- Demo Account and Pro ECN Account. Both the accounts can be operated using any of the trading platforms (MT4 and MT5). The Pro ECN account offered by Coinexx uses Electronic Communication Network which is a digital system that allows buyer and seller to trade directly without the involvement of middlemen, i.e. dealing desks or requotes. Due to this process Coinexx offers liquidity from Tier 1 banks and prime liquidity providers that contributes to tight spreads, low latency and no slippage. The account is best suited for scalpers, advanced traders, new traders and Crytoenthusiast traders.
Coinexx Review - Pro ECN Account
|Features of Account Type - Pro ECN|
|Spreads||Starting from 0.01 Pips|
|Instruments||Forex, Commodities, Indices and Cryptocurrencies|
|Margin Call/ Stop out Levels||70% / 50%|
|Commission||$2 per lot RT|
|Maximum Trading Size||100 Lots|
|Minimum Trading Size||0.01 Lots|
|Trading Styles||All trading styles allowed|
|Account Base Currency||BTC, BCC, LTC, ETH & USD|
|Limits on Stop-Loss/ Trailing Stop-Loss||No Limit|
|Swap Fees||Yes, swap fees are calculated after Friday 11:59 GMT|
Coinexx Review - Demo Account
For new traders, Coinexx offers a demo account for practice purposes. New traders can test their trading strategies or backtest them. Coinexx provides pre-deposited virtual funds of $1000 that are used by the traders to trade on the demo account.
Trading hours for trading cryptocurrencies are different. The time starts from 00:05 (Monday) to 24:00 (Friday) Server Time (GMT+3) except 0:00 to 0:05 daily. For specific timings for different instruments, you can refer to the instrument specification tab from the trading terminal.
Coinexx offers the maximum leverage of 500X based on the account size of the trader. For customised accounts Coinexx allows a maximum trading size of 200 Lots.
Coinexx Review – Trading Cost
Coinexx has quite competitive trading pricing. Coinexx is a pure ECN broker and offers traders comparatively tighter spreads starting from 0.01 pips. The commission offered by the trading platform is also fairly low of $2 per lot RT.
Coinexx credits/debits the swap fees when the trader opens his position after 00:00 server time (GMT +) according to the position opened – long or short. Swaps are calculated by the difference between the interest rates of two currency pairs whether going long or short. The interest in any currency pair is made on the purchased currency pair and the sold currency pair. The swap charges are charged if the trader holds his trading position after 00:00 server time (GMT+3). The swap charges are updated weekly by the major Liquidity Providers and are calculated based upon interest rate differentials, market conditions and risk management analysis.
If the trader holds his position on weekends (Saturday and Sunday) or if the trade is kept open after 23:59 GMT on Friday, swap fees are charged by the banks for 3 days.
Coinexx Review – Leverage and Margin
Leverage is the borrowed money from the broker that is used for making trades. This allows traders to open a larger position with relatively lesser amount of capital. For eg. if a broker is offering 1:200 leverage, that means that traders need to put 1% of the total amount and 99% of the amount will be lent by the broker. Traders have the flexibility of choosing their leverage according to their trading need and the maximum leverage offered by their broker. Coinexx offer the maximum leverage of 1:500.
Margin is the amount of funds required in the trading account to keep the position open. Coinexx requires 70% of the total trading amount to keep the position open. When this level hits, the broker gives a margin call. Traders either need to add funds or close the position. If neither of the steps is taken, the position will automatically close when 50% of the total trading amount is left. This is known as stop out.
Coinexx Review – Client Support
The broker also offers responsive customer support team that can be easily connected by chat and email 24*7 that provides quick and efficient solutions.
Coinexx Review- Client’s Experience With Coinexx
- Coinexx Offers A Complete Metatrader Suite To Their Traders : Coinexx offers an exclusive trading experience to both beginners and advanced traders. The broker offers a complete MetaTrader suite that has a wide range of technical and charting tools. Coinexx provides traders a calculation tool where they can calculate margin, Pip Value, Commission, swaps on long position and swaps on short position.
- Coinexx Offers A Pro Ecn Account (Live Account) And A Demo Account (Practise Purpose) : These accounts are suitable for trading on MetaTrader suite trading platforms. Coinexx allows traders to hedge, one-click trading feature, mobile trading, scalp, and also use expert advisors for trading. Traders can also apply technical tools like stop-loss, trailing stop loss, and place pending orders.
- Coinexx Provides Free Vps Service : VPS service is a Virtual Private Server that is used for placing orders. VPS is used to increase the speed of the internet which increases the speed of execution of the trade. The VPS supports 99.9% uptime for traders.
- Coinexx Offers A Negative Balance Protection Feature : Negative balance protection is a typical risk management feature, which protects trader’s funds and ensures traders can not lose more than what is in the account. In other words, it prevents the trading capital from going negative. Negative balance protection is an efficient tool for hedge traders and CFD traders.
- Coinexx Offers Ib And Mam/Pamm Accounts : IB allows users to refer Coinexx and the users are rewarded for every trade executed through the referral trader. The users can get their referral code from their account.
- Coinexx Has Mam/Pamm Account Service : PAMM accounts are the managed accounts that allow fund managers to manage multiple accounts directly from MT5 trading applications
Coinexx Review - Conclusion
Coinexx meets the requirements of its clients, especially those of crypto enthusiasts. Coinexx is a perfect broker platform for both beginners and advanced traders due to spreads starting from 0.01 pips, commissions as low as $2 per lot, high execution speed and low deposit. The account is created easily and quickly without any hassles. However, traders should understand their financial aims, wants and degree of understanding before signing up with a broker.
Coinexx Review - FAQS
- Forex pairs
- Stock Indices
Coinexx offers two trading platforms: MT4 and MT5
Yes, Coinexx being an ECN broker offers spreads starting from 0.01 Pips.
Coinexx charges a commission of $2 per lot RT.
Coinexx requires $10 to open an account.
You can follow the below steps to open your account with coinexx:
- Visit: https://coinexx.com/
- Click on open an account
- Fill the required details like email, name, and phone number
- A verification mail will be sent to your mail ID. You’ll have to verify the account.
- Once the account is verified, Fund the account with Bitcoin, Litecoin, Dash, Ethereum, or any other cryptocurrency of your choice.
Coinexx allows only crypto deposits/ withdrawals. Traders can use 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.
Coinexx doesn’t charge any withdrawal fees.
Demo account is funded by virtual money and allows traders to understand the trading platform and to experiment with different trading strategies. On the other hand, the live account allows traders to trade on the live market with actual money.
Negative Balance Protection means that a trader can not lose more than what is in the account. In other words , it prevents the trading capital from going negative. Negative balance protection is an efficient tool for hedge traders and CFD traders. Yes, Coinexx does offer a negative balance protection feature.
Coinexx offers only one live trading i.e Pro-ECN Account and the other one is the Demo Account.
Yes, due to the high execution speed provided, Coinexx can be the best choice for scalping.
Managed accounts are the accounts that allow fund managers to manage multiple accounts directly from MT5 trading applications. Yes, Coinexx offers a PAMM account service.
Yes, Coinexx is safe and secure as it offers many security features like: Cold Storage Wallet, Manual Monitoring, Dual Authentication and End-to-End Encryption.
Yes, Coinexx can be a great choice for beginners due to its low initial deposit requirement i.e. $10, and the high liquidity offered by the broker making the spreads tighter and the commissions fairly low i.e. $2 RT.