Coinexx Review
9.5

Coinexx Review

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Coinexx Review - About

Coinexx is a reputable brokerage company that was established in 2017 and is headquartered in Saint Vincent and Grenadines. Coinexx has 5k operating accounts and offers more than 80 trading assets on four trading instruments – Forex, commodities, indices and cryptocurrency. Coinexx is a pure ECN broker that allows traders to access the deep liquidity pool and provides two trading terminals MetaTrader4 and MetaTrader5 for trading.

Coinexx Review - Specifications

Broker’s NameCoinexx
HeadquarteredSaint Vincent and Grenadines.
Year Founded2017
Website https://coinexx.com/
Demo AccountYes
Minimum Deposit$10
Commissions$2/lot RT
Maximum Leverage1:500
Execution systemECN
Trading Strategies AllowedAll
HedgingAllowed
Instruments Available80+ trading assets in Forex, Commodities, Indices and cryptocurrencies
Platform TypesComplete MetaTrader Suite (MT4 & MT5)
Device AccessibilityWeb (webtrader) , Desktop(windows) and Mobile (iOS and Android)
Deposit TypeCryptocurrencies
Customer Support24/7

Coinexx Review - Pros And Cons

Pros:

  1. Low initial deposit
  2. Tight spreads
  3. Complete MetaTrader suite
  4. High execution speed, low latency

Cons:

  1. Unregulated
  2. Accepts deposit via crytos

Coinexx Review - Safety And Security Of The Funds

Coinexx is a reliable trading broker that follows a secure socket lock (SSL) model for security of information. Coinexx offers multi-layer security that safeguard the funds and keeps the funds in a highly secure wallet. Coinexx, along with multi-layer security also uses end-to-end encryption to ensure the security of the digital wallet. Coinexx also follows a segregation of funds model, where the client’s funds are kept separate from the company’s funds.

 

Coinexx Review - Security Features

  1. The wallet used by Coinexx is a cold wallet and the private keys are not linked to the internet, keeping the funds more secure than online wallets.
  2. All the transactions are processed manually to avoid any unauthorised activity which might come up with API based request sending.
  3. Traders are required to enter the authentication code from the registered mobile number while placing a withdrawal request. This process is known as dual authentication 
  4. All the data transferred from user to crypto collusion are encrypted which is impossible to decipher.

Coinexx Review - Trading Platforms Offered And Their Features

Coinexx Review – Trading Platforms

Coinexx offers its traders a complete MetaTrader suite which includes MetaTrader4 and MetaTrader5 trading platform that is suitable for all the kinds of traders using different trading strategies. Coinexx offers ECN model of execution on both the trading terminals and provides a wide range of choice of trading of more than 80 trading assets.

Coinexx Review – What Is MetaTrader4?

MetaTrader4, also known as MT4, is a trading platform or terminal for traders to make their trades. MT4 was developed in 2005 by MetaQuotes. The platform allows traders to trade different types of financial markets like forex, commodities, indices, and cryptocurrencies. coinexx metatrader4MT4 is the most popular trading platform among traders due to its simpler interface and highly customizable features. Traders can also trade using expert advisors that allow automated trading, using algorithms. 

Features Offered By MT4

  1. 3 Execution modes
  2. 2 Market orders
  3. 4 Pending order
  4. 2 Stop orders and 1 trailing stop
  5. Interactive charts
  6. 9 Time-frames
  7. 23 Analytical objects
  8. 30 Technical analysis

Coinexx Review – What Is MetaTrader5?

MetaTrader5, also known as MT5, is an advanced version of MT4 that is a powerful system that supports complex trading strategies like hedging and netting. MT5 is a multi-asset platform that allows traders to trade via CFDs. The platform offers extensive analytical tools for price analysis, use of EAs and copy trading.  Along with technical tools the platform also offers an inbuilt economic calendar for fundamental analysis for analysing the future price movement. 

Features Offered By MT5

  1. 4 Execution modes
  2. 2 Market orders
  3. 6 Pending order
  4. 2 Stop orders, a trailing stop and a take profit order
  5. Interactive charts
  6. 21 Time-frames
  7. 80 Technical analysis and Analytical tools

Coinexx Review - Conducting Technical And Fundamental Analysis With Coinexx

Coinexx allow trading on two popular trading platforms that offer robust technology and advanced trading environment. They are easy to use and has simpler user interface. The wide range of charts, analytical tools allow traders to read the charts efficiently using a wide range of technical tools. These platforms allow traders to be flexible with their trading approach of conducting their technical analysis based on their trading requirements. 

The trading platforms offered by Coinexx also give traders access to the economic calendars to study the upcoming economic event. 

Coinexx Review - Trading With Coinexx

Coinexx provides an ECN trading environment that gives access to the deep liquidity pool provided by Tier-1 banks offering raw spreads, high execution speed and least slippage. Coinexx allows its clients to trade with the ECN model on both MT4 and MT5 trading platforms. New traders can start their trading journey by depositing $10 in the trading accounts. Coinexx is appropriate for new traders who want to start trading low, the experienced trader trading using scalping or day trading strategies or cryptocurrency fan as the broker accepts deposits in cryptocurrency and allows crypto trading via CFDs.

Coinexx Trading Platform

Coinexx Review - Advanced Trading For Experienced Traders

Coinexx provides experienced traders with sophisticated and extensive trading tools to carry out complex trading strategies like hedging or netting. 

Advanced Trading Features Offered By Coinexx

  1. Virtual Private Server: Coinexx offers Virtual Private Server or VPS that allow traders to trade remotely without worrying about the connectivity issue or power backup. Coinexx allows traders to remotely connect to the coinexx VPS that is located near to their data centre in Amsterdam. 
  2. Benefits Of Using VPS

    • 24/7 connectivity
    • Accessible from remote areas
    • Suitable for Automated trading
    • Faster execution and low latency
    • Fine security with 99.99 uptime
  3. Wide Range Of Trading Assets: Coinexx offers more than 80 trading assets in four financial markets – Forex, Commodities, Indices and Cryptocurrencies. Forex currency pairs involve more than 60 currency pairs including major, minor and exotic currency pairs. Commodities include Gold, Silver, WTI Crude Oil, and Natural gas. The Global Indices includes all the major stocks, and Cryptocurrencies are allowed to be traded via CFDs.
  4. ECN Model Of Execution: ECN stands for electronic communication network that allows buyers and sellers to access the liquidity pool and trade directly. Coinexx is a pure ECN account that offers higher execution speed, low latency and minimal slippage. Due to these factors, spreads also tend to become tighter. This kind of execution model is very helpful for scalpers or day traders. 
  5. Negative Balance Protection: Negative balance protection refers to resetting of the account balance to zero if it has gone negative at the time of trading. In other words, traders can not lose more than what they actually have in their account. This kind of risk management is very important for traders trading via CFDs. Trading CFDs is highly risky mainly due to the need of maintaining appropriate margin due to leverage losses. Negative balance protection feature offered by Coinexx can avoid account balance from going negative. 

Coinexx Review - Trading Accounts Offered

Coinexx offers one live account – Pro ECN Account and one demo account and allows traders to use these accounts on the MT4 or MT5 terminal. Coinexx gives access to a deep liquidity pool that offers the best market prices and increases the speed of the execution of the trade. Pro ECN accounts follow the ECN model for executing the trades and offer ultra-thin spreads starting from 0.1 pips on EUR/USD. 

Coinexx accountsCoinexx allow traders to start trading with coinexx with only $10 and offers maximum leverage upto 1:500. 

Coinexx Review - Specifications Of The Pro ECN Accounts

Specifications Of Pro ECN Account

Account TypesECN
SpreadsStarting from 0.1 pips
Commissions$2/lot RT
Minimum Deposit$10
Leverage1:500
Trading InstrumentForex, Commodities, Indices and Cryptocurrencies
Margin Call% / Stop loss% 70% / 50%
Minimum Trade size0.01 lot
Maximum Trade size200 lot
Account base currencyBTC, BCC, LTC, ETH & USD
Strategies AllowedAll trading styles allowed

Coinexx Review – Demo Account

The demo account offered by coinexx is specially designed for new traders to learn and practice trading without losing any money. Demo accounts allow new traders to create, develop and test the trading strategy. Experienced traders can also backtest their trading strategies if it has started losing edge.

Coinexx Review – Trading Timings With Coinexx 

Trading timings for trading cryptocurrencies and other assets are different. The time starts from 00:05 (Monday) to 24:00 (Friday) Server Time (GMT+3) except 0:00 to 0:05 daily. Traders can refer to the instrument specification tab from the trading terminal to check the specific timings for different instruments.

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 – Leverage And Margin Call

Coinexx allows traders to increase their trading position by 500x. This means if the trader is using this leverage, the trader puts 1% of the total amount and 99% of the total amount is put by the broker. By using leverage traders get high market exposure and require very little capital as compared to the whole trading capital.

While using the leverage if the market becomes highly volatile and the trading capital starts depleting, Coinexx sends an alert when the 70% of the total capital is left and when this 70% level goes down to 50%, the position is automatically closed by Coinexx, and this level is known as stop-out level. 

Coinexx Review – Trading Costs

Coinexx offers competitive and fairly low trading costs. Coinexx being an ECN broker offering tight spreads also lowers the overall trading costs. Coinexx charges tight spreads starting from 0.1 pips for EUR/USD and comparatively low commissions of $2/lot RT. 

Coinexx offers highly competitive interest rates on the swap charges. Depending on the trader going long or short the swap is either deposited or debited. The swap charges are calculated on the difference between the interest rate of a currency pair. Swap charges are charges for the position held after 00:00 server time. Coinexx doesn’t charge any withdrawal fees. 

Coinexx Review – Customer’s Support

Coinexx offers a responsive customer support team that can be easily connected by chat and email that provides quick and efficient solutions. 

Coinexx Review – Deposit And Withdrawals

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. The transactions are processed manually and are done instantly. 

coinexx deposits

Coinexx Review – Trading Experience With Coinexx

  1. Coinexx is a great choice for all types of traders – scalper and day traders, beginners or experienced traders. The wide range of advanced technical tools and lower trading prices makes it suitable for both beginners and experienced. 
  2. The low initial deposit allows new traders to start their trading career without risking much.
  3. Coinexx offers all the suitable trading conditions for scalping and day trading. The high execution speed of the trades, low latency and minimal slippage lowers the overall trading fees. 
  4. Coinexx also offers VPS can be either bought under monthly subscription of $25 or can be availed for free by making the minimum deposit of $5000 and maintaining the balance. 
  5. Coinexx offers a negative balance protection feature for the traders trading via CFDs. The high volatility while trading CFDs can drain the whole account and drag it to negative value. Coinexx with negative balance protection resets the negative balance to zero.

Coinexx Review - Conclusion

Coinexx is a great choice for all types of traders, especially crypto enthusiasts. Thin spreads starting from 0.1 pips, low commission of $2/lot RT, high execution speed and low initial deposits make Coinexx a good choice for not only advanced traders like scalpers or day traders but also new traders who want to start trading low. The account creating process is highly simple and can be done in a few minutes. Coinexx offers robust trading platforms that offer efficient trading indicators and analytical tools like technical tools and also calculators for calculating margin, pips, PNL calculator etc. In spite of this, new traders must analyse their trading style before picking any broker. 

Coinexx Review - FAQs

1. How Many Trading Instruments I Can Trade With Coinexx?

Coinexx offers:

  • Forex pairs
  • Cryptocurrencies
  • Indices
  • Commodities
  • CFDs

2. What Trading Platforms Are Offered by Coinexx?

Coinexx offers two trading platforms: MetaTrader4 and MetaTrader5

3. Are the Spreads Offered by Coinexx Tight?

Coinexx offers spreads as low as 0.01 Pips for EUR/USD. The ECN execution model offered by coinexx is the reason for tight spreads.

4. What Are the Commissions Charged by Coinexx?

Coinexx charges a commission of $2 per lot RT.

5. How Much Money Do I Need to Open an Account With Coinexx?

Coinexx requires $10 to open an account. 

6. How Can I Avail VPS with Coinexx?

VPS can be either bought under monthly subscription of $25 or can be availed for free by making the minimum deposit of $5000 and maintaining the balance.

7. What is the Leverage Offered by Coinexx? At What Level Margin Call and Stop Out Occurs?

The maximum leverage offered by Coinexx is 1:500. The margin call occurs when 70% of the total capital is left and the stop level occurs when 50% of the total capital is left. 

8. What Makes Coinexx Best for Both Beginners and Experienced Traders?

The low trading cost and low initial deposits make Coinexx a good choice for beginners whereas the ECN execution model, negative balance protection, and VPS make it convenient for experienced traders to execute compex trading strategies. 

9. Does Coinexx Offer Negative Balance Protection? Why is It Important? 

Yes, Coinexx offers a negative balance protection feature. 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. 

10. What Are the Account Types I Can Choose With Coinexx?

Coinexx offers only one live trading i.e Pro-ECN Account and the other one is the Demo Account. You can choose based on the motive of trading – live account for trading in the real market environment and earning real money; demo account – for traders who want to learn and practice trading without losing any money.

9.0
Platform Security
9.0
Deposit Methods & Fees
10.0
Services & Features
10.0
Customer Service
9.5 Overall Rating
Coinexx Review
9.5/10