coinfx-trade Forex Broker

Key Information Details Company Name CoinFX-Trade Years of Establishment 2-5 years Headquarters United States Office Locations AR_7 Jasper, AR 72641, United States Regulation Unregulated Tradable Assets Forex, Cryptocurrencies, Commodities Account Types Standard Account, Gold Account, VIP Account Minimum Deposit $300 Leverage Up to 1:2000 Spread As low as 0.3 pips Deposit/Withdrawal Methods Credit cards, debit cards, wire transfers, e-wallets Trading Platforms MetaTrader 4 Customer Support Options Email Overview of coinfx-trade CoinFX-Trade is an unregulated trading company that has been operating for 2-5 years. Headquartered in AR_7 Jasper, AR 72641, United States, the company offers trading services for forex, cryptocurrencies, and commodities using the MetaTrader 4 platform. They provide different account types with varying minimum deposit requirements and leverage options. However, the company's customer support, which is only available through email, has received negative feedback from users for its inefficiency and unresponsiveness. Notably, CoinFX-Trade does not have a website, which might limit accessibility and transparency for potential clients. Some users have reported issues such as high fees, difficulty withdrawing funds, and overall poor customer experience, leading to accusations of fraudulent practices. Regulation CoinFX-Trade operates without any regulatory oversight, making it an unregulated broker. The absence of regulation means that the company is not subject to any specific legal framework or guidelines set forth by financial authorities. As an unregulated entity, CoinFX-Trade does not have to adhere to industry standards or comply with measures aimed at protecting investors' interests. Without regulation, clients may face increased risks, as there are no mechanisms in place to monitor the broker's activities, address potential conflicts of interest, or provide recourse in case of disputes. Pros and Cons CoinFX-Trade offers trading in forex, cryptocurrencies, and commodities using the MetaTrader 4 platform. It provides multiple account types with various leverage and deposit options, catering to different traders. The company supports several deposit and withdrawal methods, adding convenience for clients. CoinFX-Trade lacks regulation, which may raise concerns about investor protection. The absence of a website makes it hard for traders to verify the company's offerings. Users have reported issues with high fees, difficult fund withdrawals, and poor customer support. The limited customer support through email might lead to slower responses and insufficient assistance. Pros Cons Range of assets Unregulated MetaTrader 4 No website Account variety Negative feedback Deposit options Limited support Inaccessible Website CoinFX-Trade's website is inaccessible, posing challenges for traders who want to create accounts and gather vital information. This limitation raises concerns about the company's credibility and transparency. With no online platform available, potential clients find it difficult to verify the company's services, terms, and conditions. The absence of an accessible website not only hinders account creation but also prevents traders from fully understanding the company's offerings and trading conditions. The lack of transparency may deter potential clients from considering CoinFX-Trade as a reliable and trustworthy option for their trading needs. Overall, the inaccessible website significantly impacts the company's credibility and may discourage traders from engaging with the broker. Market Instruments CoinFX-Trade offers trading in Forex, cryptocurrencies, and commodities, which should be noted is irregular, as most brokers will include stocks as a trading option. Forex: CoinFX-Trade offers trading services in the foreign exchange market, allowing clients to trade various currency pairs. This includes major, minor, and exotic currency pairs. Cryptocurrencies: CoinFX-Trade enables clients to trade cryptocurrencies, providing exposure to popular digital assets like Bitcoin, Ethereum, Litecoin, and others. Commodities: CoinFX-Trade allows clients to access the commodities market, offering trading opportunities in various commodities such as gold, silver, oil, and more. Comparing Market Instruments to competing brokers: Broker Market Instruments CoinFX-Trade Forex, Cryptocurrencies, Commodities FXPro Forex, Cryptocurrencies, Commodities, Stocks, Indices, Metals, Energies, Futures IC Markets Forex, Cryptocurrencies, Commodities, Stocks, Indices, Metals, Energies, Futures, Bonds FBS Forex, Cryptocurrencies, Metals, Stocks, Indices, Energies, Agricultural Commodities Exness Forex, Cryptocurrencies, Metals, Energies, Indices Account Types Account types offered by CoinFX-Trade are Standard Account, Gold Account, and VIP Account. Details are as follows:Standard Account: CoinFX-Trade offers a Standard Account with a minimum deposit of $300. Traders can access spreads starting from 1.0 pips, and the account provides leverage of up to 1:500 for forex and 1:200 for cryptocurrencies and commodities. It includes the MetaTrader 4 trading platform and customer support through email and live chat. Gold Account: The Gold Account requires a higher minimum deposit of $1,000 and offers spreads from 0.6 pips. Traders can access leverage of up to 1:1000 for forex and 1:500 for cryptocurrencies and commodities. Similar to the Standard Account, it comes with the MetaTrader 4 trading platform and customer support through email and live chat. VIP Account: For experienced traders seeking higher leverage, CoinFX-Trade offers the VIP Account with a minimum deposit of $5,000. The account provides spreads from 0.3 pips and offers leverage of up to 1:2000. Traders can benefit from dedicated account managers, phone support, and priority withdrawal processing in addition to email customer support and the MetaTrader 4 trading platform. Account Types Comparison: Account Minimum Deposit Spreads Leverage Trading Platform Dedicated account manager Standard Account $300 From 1.0 pips Up to 1:500 MetaTrader 4 No Gold Account $1,000 From 0.6 pips Up to 1:1000 MetaTrader 4 No VIP Account $5,000 From 0.3 pips Up to 1:2000 MetaTrader 4 Yes Minimum Deposit CoinFX-Trade offers varying minimum deposit rates for its different account types. The Standard Account requires a minimum deposit of $300, the Gold Account demands $1,000, and the VIP Account necessitates a higher minimum deposit of $5,000. Leverage CoinFX-Trade provides varying leverage options to its clients based on the account type and market instrument. For the Standard Account, the leverage offered is up to 1:500 for forex and 1:200 for cryptocurrencies and commodities. The Gold Account provides leverage of up to 1:1000 for forex and 1:500 for cryptocurrencies and commodities. For traders seeking higher leverage, the VIP Account offers leverage of up to 1:2000. These leverage options enable traders to manage their positions and exposure to the market effectively, based on their risk tolerance and trading strategies. Maximum Leverage by Account Type and Market Instrument: Account Type Forex Leverage Cryptocurrencies Leverage Commodities Leverage Standard Up to 1:500 Up to 1:200 Up to 1:200 Gold Up to 1:1000 Up to 1:500 Up to 1:500 VIP Up to 1:2000 Up to 1:1000 Up to 1:1000 Spread CoinFX-Trade offers different spreads for its trading instruments, depending on the account type chosen. The Standard Account provides spreads starting from 1.0 pips, while the Gold Account offers spreads from 0.6 pips. For traders seeking tighter spreads, the VIP Account provides spreads starting from 0.3 pips. These varying spreads cater to different trading preferences and strategies, allowing traders to choose the account type that best suits their needs. Deposit & Withdrawal CoinFX-Trade offers multiple deposit and withdrawal methods to accommodate its clients' needs. Traders can fund their accounts and withdraw funds using various options, including credit cards, debit cards, wire transfers, and e-wallets. Details on a short description of all are as follows: Credit Cards: CoinFX-Trade allows traders to fund their accounts and withdraw funds using credit cards. Credit card payments offer a quick and convenient way for clients to transact, providing instant access to funds and enabling seamless transactions. Debit Cards: Traders can also use debit cards to deposit and withdraw funds with CoinFX-Trade. Debit card transactions provide a straightforward and secure payment method, directly linked to the client's bank account. Wire Transfers: CoinFX-Trade supports wire transfers for both deposits and withdrawals. Wire transfers offer a traditional and reliable method for transferring larger amounts of funds between the trader's bank account and the brokerage. E-wallets: CoinFX-Trade accepts e-wallets as a deposit and withdrawal option. E-wallets provide an electronic and secure means of transferring funds, allowing traders to manage their finances conveniently through digital platforms. Trading Platforms CoinFX-Trade provides its clients with access to the popular MetaTrader 4 (MT4) trading platform. MT4 is a widely recognized and user-friendly platform known for its robust charting tools, technical indicators, and expert advisors. Comparison of Trading Platforms: Broker Trading Platforms CoinFX-Trade MetaTrader 4 FXTM MetaTrader 4, MetaTrader 5 Exness MetaTrader 4, MetaTrader 5 Pepperstone MetaTrader 4, MetaTrader 5, cTrader FP Markets MetaTrader 4, MetaTrader 5, Iress Customer Support CoinFX-Trade offers customer support through email. Clients can contact the support team via email at support@coinfx-trade.com. Having only one customer support line can be a significant downside for clients of CoinFX-Trade. With limited communication channels, clients may experience longer wait times and delayed responses, especially during peak trading periods or when facing urgent issues. This lack of multiple support options may hinder efficient problem-solving and lead to potential frustration among traders seeking prompt assistance. Customer Feedback Customer feedback about CoinFX-Trade has been mixed, with some users expressing concerns and dissatisfaction. Reviews indicate that clients have reported issues such as high fees, difficulty in withdrawing funds, and poor customer support experiences. Additionally, the company has faced accusations of engaging in fraudulent practices. However, it's essential to consider that individual experiences may vary, and there could be different perspectives among users. Conclusion CoinFX-Trade is an unregulated trading company that provides services in the forex, cryptocurrencies, and commodities markets. The company offers various account types with different leverage and minimum deposit requirements to cater to traders with varying risk profiles. While the MetaTrader 4 platform provides a trading environment for CoinFX-Trade. The absence of a website limits accessibility and transparency for potential clients. This lack of online presence makes it challenging for traders to verify the company's offerings and terms, potentially deterring them from engaging with CoinFX-Trade. Moreover, customer feedback reveals a mix of experiences, with some users expressing dissatisfaction over high fees, withdrawal difficulties, and inadequate customer support. The company's sole customer support option through email might lead to slower response times and hinder efficient problem-solving. FAQs Q: What markets does CoinFX-Trade offer trading services in？ A: CoinFX-Trade provides trading services in forex, cryptocurrencies, and commodities. Q: What is the minimum deposit required for the VIP Account？ A: The VIP Account demands a minimum deposit of $5,000. Q: What are some customer complaints about CoinFX-Trade？ A: Customers have reported issues with high fees, difficult fund withdrawals, and poor customer support. Q: How can traders reach customer support at CoinFX-Trade？ A: Traders can contact customer support through email and live chat. Q: What is one disadvantage of having only one customer support option？ A: The lack of multiple support channels may result in longer response times and hinder efficient problem-solving. Q: Is CoinFX-Trade a regulated broker？ A: No, CoinFX-Trade operates as an unregulated trading company.