Coinexx Review

Coinexx, established in 2017 is a globally renowned forex broker that is located at Saint Vincent and Grenadines. They provide brokerage services around the world excluding some countries where restrictions on trading are applied. Coinexx offers access to more than 60 forex currency pairs, Commodities, Cryptocurrencies and Global Indices CFDs to its users.

Coinexx Review – Pros and Cons

Pros / Cons
  • Low Trading Fees
  • Fast Execution Speed
  • Minimum Deposit of $10
  • No Trading Restrictions
  • Unregulated
  • Only Crypto funding

Coinexx Review – Who is Coinexx Recommended for?

Coinexx is a great choice for both beginners and advanced traders. Coinexx offers MT4 and MT5 trading platforms with a wide range of instruments for trading. Minimum deposit being only $10, they are best suited for beginners who want to start trading with low capital.

Coinexx Review – Features of Coinexx

  1. 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.

  2. Low Minimum Deposit: This is another great feature of Coinexx that allows traders, especially beginners who are willing to start their trading journey with small deposits, to start trading with a low trading capital of $10. 

  3. 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.

  4. 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.

  5. Free VPS Service: Coinexx offers free VPS service to the traders who have a minimum deposit of $5000 USD or equivalent currency in their trading account. In case the minimum deposit criteria is not met, traders can also avail VPS service by paying $25 monthly fees.

  6. Excellent customer support: Coinexx offers great customer support that can be connected by chat and email 24*7. 
Type of BrokerECN
RegulationsUnregulated
Assets OfferedForex Commodities Indices Cryptocurrencies
Accepts Clients FromAlmost all the countries including US, except some countries where restrictions are applied
Trading Platforms AvailableMT4 and MT5
Mobile Compatibility Yes, both iOS and Android
Payment Types Accepted Cryptocurrency funding with over 25 cryptocurrencies

Coinexx Review – Compliance and Regulations

Coinexx is a legally registered forex broker that is located at Saint Vincent and Grenadines but is not regulated by any regulatory authorities.

Coinexx Review – Account Types

Coinexx offers only one account type i.e. Pro ECN Account for its users. This account can be traded on both MT4 and MT5 trading platforms. The pro ECN account uses the liquidity provided by Tier-1 Banks and Liquidity Providers that offers traders tighter spreads, low commissions and best real time feed. This account is best suited for scalpers, beginners, cryptocurrency enthusiasts and traders who are looking forward to using automated trading systems.

 

FeaturesAccount Type - Pro ECN
SpreadsStarting from 0.01 Pips
Instruments Forex, Commodities, Indices and Cryptocurrencies
Margin Call/ Stop Out Levels70% / 50%
Commission$2 per lot RT
Leverage Upto 500X
Maximum Trading Size100 Lots
Minimum Trading Size0.01 Lots
Trading StylesAll trading styles allowed
Account Base CurrencyBTC, BCC, LTC, ETH & USD
Limits on Stop-Loss/ Trailing Stop-LossNo Limit
Deposit Bonus100%
Swap FeesYes, swap fees are calculated after Friday 11:59 GMT
Copy Trading Support No

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. 

The ECN environment provided by Coinexx doesn’t involve any dealing desk or requote, making the execution speed high of the trades.

Coinexx Review – Pricing

Coinexx offers quite competitive trading pricing. Coinexx is a pure ECN broker that 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 credit/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 – Reliability and Security

Coinexx offers a complete MetaTrader Suite for traders

Coinexx Review – MT4 Trading Platform

MT4 is a powerful trading platform that allows traders to implement trading strategies of any complexity. The platform 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.

MT4 Offers

  1. 3 execution modes

  2. 2 market orders

  3. 4 pending orders

  4. 2 stop-loss and a trailing stop-loss

  5. Interactive charts

  6. 9 time-frames

  7. 23 analytical objects

  8. 30 technical tools

  9. Negative Balance Protection

  10. One Click trading

  11. Trading signals and Copy Trading

  12. MQL5 Community

  13. Accessible on Mobile (iOS, Android), Desktop and Web

MT5

Coinexx Review – MT5 Trading Platform 

MetaTrader 5 is a multi-asset trading platform that allows traders to trade forex, stocks, and futures with superior tools for competitive price analytics. The platform offers a powerful arsenal 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.

MT5 Offers

  1. Flexible trading system: MT5 supports both order accounting systems: the traditional netting system and the hedging option system.

  2. Fundamental Analysis

  3. Multiple order windows

  4. Partial order filling

  5. Trading signals and Copy Trading

  6. Mobile trading

  7. Web trading

  8. Algorithmic Trading

  9. VPS

  10. Multi-lingual support

Coinexx provides an efficient trading environment for trading and offers a high liquidity pool aggregated from the Tier-1 banks and Prime Liquidity Providers that accounts for the reduction of latency. 

The broker offers the choice to choose the base currency from cryptocurrency as well as fiat currency including BTC, ETH and USD. There are no transaction costs charged by the broker.

Coinexx Review – Trading Tools

Coinexx Review – VPS

VPS is a Virtual Private Server offered by Coinexx that allows traders to remotely connect to the VPS located near to the data centre in Amsterdam. 

Key Features of VPS

  1. Uninterrupted 24*7 connectivity

  2. Access from any part of the world

  3. Ideal for Automated trading

  4. Fast execution and low latency

  5. Strong Security and 99.9% uptime

  6. Smooth functioning with optimal connection speed.

Coinexx Review – Security Features

Coinexx uses multilayer security and end-to-end encryption that ensures the security of the digital wallet.

  1. Cold Storage Wallet: All the funds from the traders are stored in a cold wallet that does not have internet connection. The private keys are not linked online and are secured in an offline device.

  2. Manual Monitoring: The withdrawals are processed manually after thorough cross-checking of the information. There is no Automated or API based request sending.

  3. Dual Authentication: This is an extra layer of security that is added to enhance the security of the client’s fund. Clients will have to enter the authentication code while placing a withdrawal request.

  4. End-to-end Encryption: The data transfer between the client and the crypto solution is encrypted in all the layers. This system encryption is structured in such a way that it makes it nearly impossible for the third party to decipher it. 

Coinexx Review – User Experience

oinexx offers outstanding, instinctive trading experience for both beginners and advanced traders. The broker offers a wide range of calculation tools for calculating margin, Pip Value, Commission, swaps on long position and swaps on short position.  

The broker also offers great customer support team that can be easily connected by chat and email 24*7 that provides easy and quick solutions. The broker provides detailed information about the services availed. 

Coinexx offers exceptional risk management with its negative balance protection. 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. 

Coinexx offers a Pro ECN account and a demo account for trading on MetaTrader4 and MetaTrader5 trading platforms. The broker 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 also provides free VPS service which 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 also offers IB and MAM/PAMM accounts. IB allows users to refer to Coinexx and the users are rewarded for every trade executed through the referral trader. The users can get their referral code from their accounts. 

The broker also 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 – Final Thoughts

Coinexx caters to the needs of its users, especially crypto enthusiasts. The broker only allows deposits/ withdrawals in cryptocurrencies that are instantly transacted. 

Coinexx with spreads starting from 0.01 pips, commissions as low as $2 per lot, high execution speed and low deposit is a perfect broker platform for both beginners and advanced traders.The account is created easily and quickly without any hassles. It also provides traders with various technical tools and calculators for calculating margin, pips, etc.  However, traders should understand their financial objectives, needs and level of understanding before signing up with a broker.

Coinexx Review – FAQS

Coinexx offers:

  • Forex pairs
  • Cryptocurrencies
  • Stock Indices
  • Commodities
  • CFDs

Coinexx offers two trading platforms: MT4 and MT5

Coinexx offers spreads starting from 0.01 Pips.

Yes, Coinexx charges a commission of $2 per lot RT.

You can follow the below steps to open your account with coinexx:

  • Visit: https://coinexx.com/
  • Click on open an account
  • Fill the necessary 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.

No, 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.

Yes, 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.

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.

Yes, Coinexx offers a PAMM account service. They are the managed accounts that allow fund managers to manage multiple accounts directly from MT5 trading applications.

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.