COINEXX Forex Broker

COINEXX Information

　　Coinexx is an unregulated online brokerage firm that offers trading services in a wide range of financial instruments, including forex, commodities, cryptos, and indices. It was established in 2017 and is registered in Comoros, with a physical office in Dubai, UAE. The company offers its clients a variety of account types, competitive spreads, and high leverage up to 1:500. Coinexx provides access to trading platforms such as MT4 and MT5.

COINEXX Pros and Cons

Market Instruments

　　COINEXX offers 80+ trading instruments, including forex, commodities, cryptos, and indices.

Trading Account

　　Coinexx offers a single account type, the Pro ECN account, which offers low spreads starting from 0.0 pips for forex, commodities, indices and cryptos, and high leverage of up to 500x. Traders can use any trading style they prefer, and the account accepts BTC, BCC, LTC, ETH & USD. The account also offers a large maximum trade size of 100 lots and a 100% deposit bonus. However, Coinexx is an unregulated broker, which could be a disadvantage for some traders.

Leverage

　　COINEXX offers a maximum leverage of up to 1:500, which is quite high and allows for traders to potentially achieve high profits from their trades. However, high leverage also increases the risk of significant losses, and inexperienced traders may not fully understand the risks associated with trading on high leverage.

　　Additionally, regulatory bodies may impose restrictions on the maximum leverage offered by brokers. For experienced traders with a well-planned strategy, high leverage can be a useful tool for trading, but excessive leverage can lead to margin calls and forced liquidation of positions.

Spreads and Commissions

　　In summary, while COINEXX offers low commissions and transparency in their fees, the spreads for major currency pairs are not competitive and may not be attractive to traders. Additionally, the high swap rates and limited payment options may also be a disadvantage for some traders. It is also important to note that COINEXX is an unregulated broker, which may pose potential risks for traders.

Trading Platforms

　　MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are both popular trading platforms widely used by forex brokers. They are available on desktop and mobile devices, and provide a user-friendly interface for traders. The platforms offer a wide range of trading tools and indicators, as well as the ability to use Expert Advisors for automated trading.

　　However, the platforms have limited customization and charting capabilities, as well as limited automation and risk management tools. Additionally, backtesting capabilities are also limited on both platforms. Overall, MT4 and MT5 are reliable and popular platforms for traders who prioritize ease of use and accessibility.

Deposit and Withdrawal: Methods and Fees

　　Coinexx offers its clients the convenience of funding their trading account with major cryptocurrencies and access to dedicated crypto wallets. Clients can transfer funds directly from these wallets to their trading accounts or any external crypto wallets. Withdrawals are also processed within the stipulated timeframe. However, withdrawals are reviewed and processed manually to avoid any unauthorized activities, which may result in longer processing times.