Coinexx is an online forex and CFD broker founded in 2018 and based in Kingstown in Saint Vincent and the Grenadines. They use cryptocurrencies for all their transactions, which helps to ensure instant transactions, security, and anonymity.
The broker has partnered with Premium Liquidity Providers (LPs) to give its clients competitive spreads and lightning speed executions. They offer over 80 tradable instruments across forex, commodities, indices, and cryptocurrencies. Coinexx boasts of over 5000 trading accounts from all over the world and has their data center in Amsterdam.
Coinexx Review Introduction
In this Coinexx review, we will take a look at some of the most important factors worth considering when choosing a forex broker for your online trading needs. This includes trading platforms, trading tools, research and education, account funding options, customer support and broker regulation.
You may also wish to view my best forex brokers based on countless hours that I have spent researching and testing hundreds of brokers, all of which you can see in my forex broker reviews. You can also use my free trading tool to compare forex brokers including Coinexx.
Coinexx Platforms & Tools
The broker offers their clients access to the markets via the MT4 and MT5 trading platforms. Both MT4 & MT5 are available as WebTrader, desktop applications, and mobile trading apps. Their functionalities can be expanded via plugin apps. The main difference between MT4 and MT5 is that MT5 has more features.
The MT4/MT5 apps are simple and easy to use; they enable the clients to monitor the market prices, place trades, monitor account balances, and analyze the market on the go, provided there is an internet connection.
Coinexx’s clients also benefit from other trading tools, such as the MAMM/PAMM accounts, which features reporting tools, performance analysis, and marketing tools. There is also the Economic Calendar, which is used to monitor the dates and times of important global economic events and forecasts their impacts, as well as Forex Calculators used in the estimation of costs. The broker also offers free VPS services to clients who need 24/7 connectivity and good trade execution speeds.
Coinexx Research & Education
Educational materials, such as trading guides, tutorial videos, webinars, and more are considered very beneficial for beginner traders to help them improve their trading skills, but none of them is on the Coinexx’s website at the moment.
Coinexx Trading Accounts
The broker offers their traders the Pro ECN Account as the only live trading account available. This account can be used for scalping, news trading, and automated trading with Expert Advisors (EAs). A commission of $2 is charged on every trade. The maximum leverage is 1:500, and the floating spreads start from 0 pips.
Clients can create a demo account from the website so that they can practice trading strategies before opening a real live trading account.
Coinexx Account Funding
Clients can maintain their accounts in both cryptocurrencies and fiat currencies. Deposits can only be made using any of the following cryptocurrencies: Bitcoin, Litecoin, Ethereum, True USD, Gemini USD, USDC, OmiseGo, Lisa, Siacoin, NEM, Monaco, Stratis, Dash, Dogecoin, Ether Classic, Neo, Blackcoin, NXT, and Pot Coin. The minimum withdrawal is $5, and it is processed within 48 hours. However, clients can only withdraw in the same currency as their crypto wallet.
Coinexx Customer Service
The broker’s customer support team is always handy to answer clients’ questions through the instant web chat 24/7. There is also a form titled “send us message” on the contact us page, which, when filled by the client, is replied by the team via email within a day.
This brokerage is currently not regulated by any financial service regulator in any country.
Coinexx Review Summary
Coinexx is a broker that offers very competitive trading fees that cater to various clients’ individual needs. They provide clients with the web, desktop, and mobile versions of the MT4 and MT5 platforms. However, they are not regulated.
It is worth mentioning that some of the trading products and services in this Coinexx review may differ or not be available to traders in some countries due to regulations. As brokers terms can change over time, please verify all information is up to date directly from the Coinexx broker website which you can visit by using the link below.
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.