Coinexx is an online forex and CFD broker. The broker implements STP/ECN execution with tight spreads and low commissions. Coinexx offers a basic product portfolio of around 80 trading instruments over popular asset classes such as forex, global indices, and cryptocurrencies. The broker has some useful trading tools to assist you with your market research and making informed decisions. A low minimum deposit with the ease of cryptocurrencies and the possibility of a free VPS service make Coinexx an option worth exploring in more detail. However, the lack of regulation is a distinct disadvantage over other brokers.
Coinexx offers an efficient trading environment to its clients that reduces latency and improves trading efficiency. You can gain direct access to deep liquidity pools aggregated from a network of Tier-1 Banks and Prime Liquidity Providers.
Coinexx offers trading via the user-friendly MT4 and MT5 platforms with ease and simplicity. The deposit and withdrawal via cryptocurrencies can also be considered an attractive proposition for those if you who like to deal in digital currency. In addition, you can also choose a cryptocurrency as your account’s base currency. The STP/ECN order model minimises the execution times and helps avoid requotes. Moreover, MAM/PAMM makes social trading seamless. The Free VPS offered by the broker makes it easy for the traders who want to automate their trading 24/7. The broker has a low minimum deposit and charges no inactivity fees which are amongst the additional perks of Coinexx.
Coinexx has been providing trading services globally since 2017 and is currently registered and operates from Kingstown in St. Vincent and the Grenadines. However, the broker is not regulated by any government regulatory authority at this time. In addition, Coinexx doesn’t accept any other funding method except crypto. Moreover, the broker lacks educational resources and any sufficient learning materials. There is no option of Islamic or swap-free accounts. Limited trading instruments and only one account type can also be a problem for some traders who want to diversify their portfolios. You may wish to explore our broker reviews for some better options.
Here is the summary of the Pros and Cons of trading with Coinexx.
- MT4/MT5 trading platforms
- Cryptocurrency trading
- Crypto base currency accounts
- Crypto funding
- STP/ECN model with minimal requotes
- Minimal spreads starting from 0.0 pips
- Low commission
- MAM/PAMM accounts for social trading
- Free VPS
- Various account base currencies
- Low minimum deposit
- Trading research tools
- No inactivity fees
- Customer support 24/7
- No documents required to maintain anonymity
- No other funding methods except crypto
- No educational resources
- Limited stock trading instruments
- Not regulated
- No trading academy
- No Islamic accounts
- Lack of additional tools for market analysis
Coinexx has a quite limited range of 80 trading instruments over popular asset classes such as forex, commodities, indices, and cryptocurrencies. However, the broker lacks other important asset classes such as individual stocks, options, bonds, and ETFs. If you are looking to trade forex then you might be satisfied, but there are other brokers who have thousands of financial instruments in comparison such as Exclusive Markets.
Coinexx Instruments Summary
Commission and Spread Fees
Coinexx offers only one live account type, which is Pro ECN. The broker offers STP/ECN executions with tight spreads as low as 0.0 pips and a commission of $4 per standard lot traded per round. To be fair, these are very low costs overall. However, you can get similar conditions through regulated brokers including RoboForex.
|Commission (per standard lot per side)||$2|
Deposit and Withdrawal Fees
Coinexx offers funding and withdrawal without any fees. However, the blockchain charges may apply to each transaction. Please check charges with your crypto wallet before funding your Coinexx account. I have been in a situation where the blockchain fee was so high that it actually took a significant chunk out of the amount I was depositing and left me much more out of pocket than anticipated.
Coinexx does not charge an inactivity fee which is a good advantage for those of you who like to take prolonged breaks from your trading.
Coinexx provides you with the ease and simplicity of trading via the popular MetaTrader platforms provided by MetaQuotes. MetaTrader 4 and MetaTrader 5 are available on multiple devices which gives you convenient market access as and when you need it. In addition, the broker also offers some handy trading tools such as a Forex VPS and trading calculators. However, I feel they could add a lot more to help with market analysis, including Autochartist and Trading Central. For a better variety, you might want to look at Forex.com as an alternative option. However, if you are looking to take a hands-off approach, Coinexx makes social trading seamless with MAM and PAMM accounts. Investors at Coinexx can choose from thousands of traders’ portfolios to replicate their trades on their accounts. Just remember that there can be no guarantee on performance.
Let’s look at each trading platform and tool briefly.
MetaTrader 4 (MT4)
Coinexx clients can access the financial markets via the intuitive MT4 trading platform, a free professional terminal with important trading and analytics features. MT4 is available on mobile devices, desktop computers, and via WebTrader from popular browsers. The fact that the MT4 trading platform’s tools and capabilities may be increased via plugin programmes is a significant benefit. Clients can use the MQL4 programming language to create their own trading tools, indicators, and Expert Advisors (EAs), which they can subsequently install as a plugin app into the platform. EAs are trading robots that automate the trading of forex and CFDs in the MetaTrader platforms. The MT4 platform can display live quotations from the Coinexx liquidity aggregator. It also allows for live charting in 9 timeframes and 3 chart types. It includes 30 technical indicators as well as 24 analytical elements. It allows for different order management options, such as account history and order history. Here is a summary of the salient features this MT4 has:
- Easy to use trading platform
- 9 chart timeframes
- 3 chart types
- 3 execution order types
- 4 pending order types
- 30+ technical indicators
- Customisable interface
- Trading strategy templates
- Automated trading robots
- Strategy tester
- Copy trading
- Push Notifications
- Available on desktop, web, and mobile
MetaTrader 5 (MT5)
The MT5 trading platform was designed to improve upon the already brilliant MT4 platform, although it retains a comparable style and functioning while adding some new features and capabilities. Plugin programmes designed for MT4 will not work on MT5 and vice versa. The MT5 trading platform, like MT4, is loaded with trading tools, allows for the programming and deployment of EAs, and supports advanced charting and analytics. Coinexx MT5 is accessible via desktop, WebTrader, and mobile trading applications. The MT5 trading platform is the only place where clients of Coinexx can trade crypto CFDs.
The market watch window displays real-time price quotes. The market depth, which represents the liquidity pool, may also be observed. Up to 100 charts can be opened at the same time. The charts may be seen in 21 different periods ranging from 1 minute to 1 month. The platform comes preinstalled with 40+ technical indicators, but many more may be uploaded via plugin programmes written in the MQL5 programming language. Clients can purchase EAs, indicators, and other items through the platform’s MQL5 market. The platform also includes an economic calendar.
- 21 timeframes
- Multiple order execution types
- 6 pending orders
- 40+ technical indicators
- Economic calendar
- Depth of market (DOM)
- Strategy tester
- Tick data
- Powerful trading platform
- Trading signals
- Expert advisors (EAs)
- MetaQuotes Marketplace
- Price alerts
- Available on desktop, web, and mobile devices
Mobile apps for Android and iOS smartphones have been created for both the MT4 and MT5 platforms. The MT4/MT5 mobile trading applications are relatively similar; the key difference is in the functionality, with the MT5 app having more. The app’s UI is straightforward and user-friendly. Clients may use the applications to monitor market prices, place trades, check account balances and analyse the market while on the go, as long as they have an internet connection. This is ideal for traders who travel frequently or simply enjoy the comfort of trading from the palm of their hands.
The ‘quotes’ tab displays real-time price quotations. It is possible to personalise it by adding regularly traded items to the favourites list. Charting on 9 distinct timeframes is possible. 30 technical indicators and drawing objects are used in the analysis. Multiple orders can be placed using market orders, stop orders and up to four pending orders on MT4 and six pending orders on MT5. Just keep in mind that you will need the desktop version of the MetaTrader platforms if you want to run automated strategies.
Coinexx provides manager accounts that are directly linked to the MT5 trading platform. A multi-account manager (MAM) can sign up new customers and trade on their behalf. From the manager’s master account, an unlimited number of accounts can be traded in bulk. You are free to employ any trading method, including EAs. The MAM/PAMM software is adaptable and dependable; it includes comprehensive reporting, performance analysis, and marketing options. It also has a variety of trade allocation types that the management may configure based on a trader’s money or contribution. Subaccount owners will be required to submit a power of attorney documents. FXTRADING.com also provide managed accounts if that is something you are looking for in a broker.
Coinexx offers a variety of calculators to its clients in order for them to estimate trading fees. There are the following calculators available: Forex calculators include the Margin Calculator, the Pip Calculator, the Currency Converter, the PNL Calculator, the Commission Calculator, and the Swap Calculator.
Virtual Private Server (VPS)
The VPS links customer trading platforms to a powerful server placed close to the broker’s trading servers. This can assist in maintaining uninterrupted 24/7 connectivity, minimal latency, and fast transaction execution rates. A VPS can help expert advisors (EAs) users, news traders, and other traders who employ automated trading systems. Once the VPS is configured, the EA or trading system will function from the VPS. The trader will no longer have to be concerned about probable internet fluctuations, power supply failure, or hardware failure. Coinexx provides free VPS services to clients that have a minimum balance of $5,000. Other clients can also request a VPS for $25 per month. You can get a free VPS for less from some other brokers including Eurotrader.
Coinexx Platforms Summary
|MetaTrader 4 (MT4)||✓|
|MetaTrader 5 (MT5)||✓|
The Coinexx website has no educational resources. This is unfortunate because the traders would have loved to see some trading videos, webinars, and trading courses. These might be quite advantageous for new traders by assisting them in improving their trading abilities and expertise. If you are a beginner and looking for lots of content to help you along the way, CM Trading have a good selection.
Coinexx Research and Education Summary
|Economic Calendar (Embedded in MT5)||✓|
Clients can keep their accounts in both cryptocurrency and fiat currency. MT4 accounts are maintained in USD or EUR, but MT5 accounts are maintained in EUR, USD, BTC, LTC, ETH, and XRP. Clients can only deposit and withdraw with cryptocurrencies. Other popular funding methods such as bank transfers, debit/credit cards, and electronic wallets are not offered by Coinexx. A conversion rate will be applied to the transaction if the account currency differs from the deposit currency. Withdrawals are manually handled within 48 hours. Clients can only withdraw in the currency that is in their crypto wallet. The minimal withdrawal amount is $5. For a better selection of payment methods including e-wallets, you might want to have a look at PaxForex instead.
Coinexx Funding Summary
Coinexx is not currently licenced by any financial service regulatory authority in any jurisdiction. While this may dissuade some traders, it implies that they may provide some trading circumstances that a registered brokerage cannot due to tight laws designed to safeguard investors. If you would prefer to trade with a regulated broker, AvaTrade are one of the most well-regulated brokers that you will find and they also provide crypto trading.
Coinexx Regulation Summary
|SFC (Hong Kong)||x|
Coinexx is not a regulated broker and is not traded as a public company. On the other hand, the broker does not publicly disclose its financial information. The broker takes customer fund security seriously and has put in place the following steps to assist safeguard funds:
- Cold Storage Wallet
- 2 Step verifications
- End-to-End Encryption
Coinexx provides customer support via live chat, email, and the “send us a message” section 24/7.
Coinexx is an online broker that caters to the specific demands of its clients, particularly cryptocurrency enthusiasts. You can get access to real world marketplaces via cryptocurrency accounts. The broker accepts cryptocurrency deposits and withdrawals, allowing traders to move funds instantaneously while keeping some level of anonymity. Spreads start at 0.0 pips, with cheap commission fees, quick trade execution, and a responsive customer support service.
The Coinexx selection of the user-friendly MT4 and MT5 platforms is appropriate given that there are no limits on methods or trading styles, and the platforms are acceptable for both beginning and expert traders. Clients can trade via the web, desktop, or user-friendly mobile trading apps. The free VPS and managed accounts (MAM/PAMM) are also good for anyone looking to take a hands-off approach.
Despite the positives, it would be nice to see basic educational resources added and more additional trading tools for market analysis. However, I think they are let down overall by a lack of regulation at this time.