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Coinexx Review 2024

Written By

Tobias Robinson

Written By

Tobias Robinson

Tobias is a partner at DayTrading.com, director of a UK limited company and active trader. He has over 25 years of experience in the financial industry and contributed via CySec to the regulatory response to digital options and CFD trading in Europe. Toby’s expertise and dedication to financial education make him a trusted voice in the industry, including a BBC investigation into digital options.

» Tobias Robinson Profile Page

Fact Checked By

William Berg

Fact Checked By

William Berg

William contributes to several investment websites, leveraging his experience as a consultant for IPOs in the Nordic market and background providing localization for forex trading software. William has worked as a writer and fact-checker for a long row of financial publications.

» William Berg Profile Page

Updated

Nov 12, 2024

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Available in United States

New Customer Offer 100% Deposit Welcome Bonus

Overall Rating

2.5 / 5

Coinexx is #11 in our CFD broker rankings.

Customer Reviews (5)

Read Review

Compare

Customer Reviews

Regulation & Trust

2.5 / 5

Accounts & Banking

2.5 / 5

Assets & Markets

2.8 / 5

Fees & Costs

3.3 / 5

Platforms & Tools

3.8 / 5

Customer Support

3 / 5

Minimum Deposit 0.001 BTC

Trading Platforms MT4, MT5

Instruments Forex, Commodities, Indices, Cryptocurrencies

Regulators

Account Currencies USD

Payment Options Bitcoin Payments, Ethereum Payments

Current Promotions

Double Your Trading Margin With A 100% Deposit Bonus From Coinexx

Pros

• The virtual private server (VPS), hosted near the firm’s data center in Amsterdam, offers 24/7 connectivity, low latency and 99.99% uptime, catering to algo traders.
• Coinexx is one of a limited pool of brokers to support the ActTrader platform, which is highly customizable with detachable widgets, as well as 48 indicators, 11 timeframes, and price quotes up to 8 decimal places.
• Coinexx uses an ECN model that facilitates ultra-tight spreads from 0 pips, which alongside high leverage up to 1:500, may serve fast-paced, high-volume trading strategies.

Cons

• Although it supports near-instant account funding in 25+ cryptos, the absence of fiat deposit options at Coinexx will be severely limiting for many traders.
• Despite operating for over 7 years, Coinexx still hasn’t secured any regulatory approvals, respected industry awards or the full confidence of our experts.
• Aside from 7 calculators (forex, margin, pip, currency, commission, swap, PnL), Coinexx offers very little in terms of additional tools, with no education or research features to support traders.

Coinexx is a cryptocurrency-driven online broker. The ECN brokerage offers instant deposits, lightning-fast executions, and 80+ instruments. This review will cover how to sign up for a live trading account, minimum deposit requirements, MetaTrader 4 (MT4) platform features, withdrawal fees, and more. Find out what our experts thought of Coinexx.

Company Details

Coinexx is a multi-asset brokerage offering low-cost trading with crypto deposits and withdrawals. As a true ECN broker, Coinexx offers direct access to the market, with no dealing desk intermediary and tight spreads.

Founded in 2017, Coinexx has seen steady growth, with over 5000 live accounts opened in recent years.

The broker has a head office location in Seychelles and is currently unregulated.

Trading Platforms

After signing up with Coinexx, traders can use the features of MetaTrader 4 (MT4) and MetaTrader 5 (MT5). The platforms can be used directly through all major web browsers or downloaded to desktop devices.

Owned by MetaQuotes, the brand is well-established, offering stable and intuitive interfaces. As well as fast trade executions, the platforms offer a range of analysis tools and technical features to support decision-making.

Together with the broker’s competitive pricing and no dealing-desk interventions, the platforms are ideal for both experienced and beginners.

MetaTrader 4

• One-click trading
• Integrated trading signals
• 30 in-built technical indicators
• Automated trading via EAs and bots
• Stop-loss and take-profit orders
• Access to a library of custom indicators
• Up to 99 charts can be opened in one interface

MetaTrader 5

• Access to EAs
• Partial order filling
• In-built strategy tester
• MQL5 programming language
• Integrated economic calendar
• 38 in-built technical indicators
• Advanced Market Depth feature

How To Trade

1. Double-click on the instrument name in the Market Watch window – an order window will appear
2. Set your trade as ‘market execution’ or a ‘pending order’
3. Input the transaction volume (in lots) and the stop-loss/take-profit volume if required
4. Choose the direction of the trade by choosing ‘buy’ or ‘sell’
5. You can modify a position by right-clicking on the open order and selecting ‘modify’
6. To close a position, right-click on the order line on the chart and select ‘close’

Assets & Markets

Coinexx offers 80+ instruments:

• Indices – Speculate on five major stock indices including FTSE100, US30, and S&P500
• Commodities – Invest in energies and precious metals including WTI Crude Oil, Natural Gas, Gold, and Silver
• Forex – Trade 60+ major, minor and exotic currency pairs including EUR/USD, USD/JPY, and GBP/USD
• Cryptocurrencies – Trade four popular digital currencies with USD including BTC/USD, ETH/USD, and XRP/USD

The MetaTrader platforms support all trading styles including scalping, hedging, and automated strategies.

Spreads & Fees

Coinexx offers deep liquidity and low latency connectivity with top-tier providers. This means day traders can access tight spreads.

We were offered spreads of 0.0001 pips on the EUR/USD currency pair and 0.005 on the USD/JPY. Additionally, the FTSE 100 was offered at 0.9 points and the US 30 at 2.0 points.

There is also a low commission fee of $2 per lot, which is competitive vs Hugosway with a $5 commission per lot.

Swap fees apply for positions held after midnight (GMT +3). There is a helpful swap charge calculator available on the broker’s website, which takes into consideration the latest market conditions and interest rates of the liquidity providers.

There are no inactivity charges or account management costs.

All retail investors can access a margin calculator, pip calculator, and forex calculator to support trading decisions.

Coinexx Leverage

Coinexx offers high leverage up to 1:500. This means for every $1 deposited, day traders can access $500 in purchasing power using borrowed funds from the broker.

We recommend using risk management parameters if trading with high leverage. Losses can quickly build up.

Mobile App Review

Coinexx does not currently have a proprietary mobile app. Instead, the broker offers mobile trading via the MT4 and MT5 applications, which are compatible with iOS and Android phones and tablets.

Retail investors can login to their brokerage profile directly through the respective app. Clients can access full trading history and use the full suite of interactive graphs and analysis tools. Additionally, the app provides live market news and traders can set price notifications and alerts.

There is also an in-built live chat function for queries and questions.

Payment Methods

Deposits

Coinexx accepts digital currency deposits via 25 popular cryptos and altcoins. These include Bitcoin, Dash, Ethereum, and Litecoin. Unfortunately, fiat payments are not accepted.

Investors can transfer funds from an external digital wallet or hold cryptocurrency in the broker’s cold storage wallet.

There is a minimum deposit requirement of 0.001 Bitcoin or equivalent which is the same as the Coinex exchange.

Coinexx does not charge any deposit or withdrawal fees.

How To Deposit To A Live Trading Account

1. Log in to the Coinexx client portal
2. Select ‘Deposit’ from the menu along the top
3. Add your live trading ID. Account details including account currency and latest balance will auto-populate
4. Select the deposit currency from the drop-down menu and enter the value
5. Select ‘Proceed’
6. The funds will be processed and deposited to your trading account (timings are blockchain confirmation dependent)

Withdrawals

The broker processes withdrawals within 48 hours of a request, though the time taken for funds to clear will vary depending on blockchain confirmation requirements. Withdrawals are processed in the same digital currency used to fund an account.

The minimum withdrawal requirement is 0.001 BTC or equivalent. There is no maximum limit. Retail traders can withdraw their total account value as long as it is more than the margin requirement.

Note, Coinexx does not offer refunds for incorrect payment requests or wallet errors.

Demo Account

Coinexx traders can access a demo account on the MT4 and MT5 platforms. Individuals can choose from leverage up to 1:500 with several virtual currencies to execute trades.

Registration is easy. Once signed up with the broker, click on ‘Demo Account’ from the menu within the client dashboard. Then simply choose MetaTrader 4 or MetaTrader 5.

Bonuses & Promotions

Coinexx offers a 100% deposit bonus for all new retail investors.

The financial incentive is available to new users making a payment of at least $100 with leverage up to 1:200 available.

Regulation & Licensing

Coinexx Ltd operates as an unregulated entity.

With limited oversight, the broker can provide competitive trading conditions, including higher leverage than those with authorization from the UK Financial Conduct Authority (FCA) or the Cyprus Securities and Investments Commission (CySEC), for example.

Having said that, there may not be any access to compensation schemes in the case of business insolvency, though negative balance protection is provided.

Additional Features

VPS

Coinexx offers a Virtual Private Server (VPS) to all clients. Day traders can connect to the VPS to improve latency and benefit from uninterrupted connectivity. A stable internet connection is the only requirement to benefit from fast execution speeds.

The VPS is available for no fee to investors with at least $5000 or equivalent held in a live trading account. VPS connection is available for $25 per month for individuals that don’t meet the minimum account requirements.

Education & Tools

The broker does not offer any educational materials or content which is disappointing, particularly for beginners.

However, there are plenty of online calculators to support performance forecasts, including a swap fee calculator, P&L calculator, and margin calculator. These can be accessed directly through the Coinexx website.

Account Types

There is just one live trading account; Pro ECN.

Day traders can access tight spreads, low commissions, and interbank pricing from tier-1 banks and liquidity providers. Other features include:

• 70% margin call
• 50% stop out level
• Leverage up to 1:500
• ECN order executions
• Tight spreads from 0 pips
• $2 commission fee per lot
• 100 lots maximum trade size
• 0.01 lots minimum trade size
• BTC, ETH, LTC, BCC, and USD account base currencies

How To Open An Account

1. Click on the ‘Open An Account’ logo on the broker’s homepage or use the ‘Visit’ button above
2. Sign up using an email address
3. Fund your account using cryptocurrency or USD
4. Start trading

Coinexx does not require any identity verification information for KYC/AML checks. This means investors can trade anonymously.

Trading Hours

Trading hours vary by instrument:

• Indices – Market opening hours are Monday to Friday 01:00 AM to 12 AM, with a daily close from 12 AM to 1 AM
• Forex – Standard forex trading hours are Monday to Friday 12:05 AM to 12 AM, with a daily close from 12 AM to 12:05 AM
• Commodities – Typical market opening hours are Monday to Friday 01:00 AM to 12 AM, with a daily close from 12 AM to 1 AM
• Cryptocurrency – 24/5 trading hours, Monday to Friday 12:05 AM to 12 AM, with a daily close from 12 AM to 12:05 AM

The Coinexx platforms work on a GMT+3 server time.

Customer Service

Coinexx offers 24/7 customer support. Contact methods include live chat (bottom right of each webpage and within the client portal), email (support@coinexx.com), and an online contact form (via the ‘Contact Us’ webpage). There is no customer service phone number available.

The broker is also present on social media including Facebook and Twitter. Stay up to date with the latest company news and announcements.

There is no FAQ section covering common queries such as how to close trades on Coinexx, how to deposit and withdraw money into and from a Coinexx account, and how to use the MetaTrader platform.

Security & Safety

Coinexx encrypts all data transfers between users, crypto wallets and trading platforms. Funds are held in cold storage wallets with private keys stored offline.

Additionally, all withdrawal requests require an authentication code which is sent directly from a linked mobile device. These transactions are processed manually with no API or automated transfers available.

Coinexx Verdict

Coinexx offers competitive pricing, ECN execution, generous leverage, and a choice of MT4 and MT5 trading platforms. The relatively new broker has also mastered the cryptocurrency funding concept, offering day traders a choice of digital currencies for fast and convenient deposits. And while the limited instrument list and lack of educational resources may be off-putting, it certainly shouldn’t be a deal breaker.

FAQs

Is Coinexx Regulated?

No, Coinexx is as an unregulated trading brokerage.

Does Coinexx Accept US Clients?

Yes, Coinexx accepts clients globally, including from the US.

Is Coinexx A Good Broker?

Coinexx is a legitimate broker offering retail trading services. Although we recommend trading with caution if choosing an unregulated broker, we are confident that Coinexx is not a scam.

Is Coinexx An ECN Broker?

Coinexx is an ECN broker that offers direct market access to liquidity providers. With this, day traders benefit from raw, tight spreads, competitive commission fees, and real-time price quotes.

What Cryptocurrencies Does Coinexx Accept For Live Account Deposits?

Coinexx accepts 25 popular cryptos and altcoins for account funding. These include Bitcoin, Ethereum, and Litecoin.

Top 3 Alternatives to Coinexx

Compare Coinexx with the top 3 similar brokers that accept traders from your location.

1. IG – Founded in 1974, IG is part of IG Group Holdings Plc, a publicly traded (LSE: IGG) brokerage. The brand-US offers spread betting, CFD and forex trading across an almost unrivalled selection of 17,000+ markets, with a range of user-friendly platforms and investing apps. For 50 years, IG has maintained its position as an industry leader, excelling in all key areas for traders.
   Go to IG
2. Interactive Brokers – Interactive Brokers (IBKR) is a premier brokerage, providing access to 150 markets in 33 countries, along with a suite of comprehensive investment services. With over 40 years of experience, this Nasdaq-listed firm adheres to stringent regulations by the SEC, FCA, CIRO, and SFC, amongst others, and is one of the most trusted brokers for trading around the globe.
   Go to Interactive Brokers
3. World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
   Go to World Forex

Coinexx Comparison Table

Compare Trading Instruments

Compare the markets and instruments offered by Coinexx and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Coinexx vs Other Brokers

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