Coinexx Review 2024: A Forex Broker That Offers Crypto Exposure?

Coinexx is one of the few brokers to offer high leverage (up to 500X) on specific forex and crypto pairs.

In this review, I’ll walk you through Coinexx’s features, fee structure, and how to start an account. By the end, you’ll be able to decide if Coinexx is the right crypto and forex broker for you.

Pros and Cons

Before getting into the details, let’s take a quick look at the major pros and cons of the platform.

Pros

• Low deposit threshold, which is better for beginners
• Supports over 25 altcoins
• Supports ECN trading, which is transparent and is known for lower spreads
• Offers access to both MetaTrader 4 and MetaTrader 5
• Extends support to a global clientele, including residents of the UK, Brazil, and Singapore
• Lot size flexibility
• Opportunity to get up to 100% deposit bonus
• High leverage, up to 500X

Cons

• Doesn’t operate under global regulatory oversight
• The verification process isn’t as stringent as some other Forex brokers

• Despite obtaining an American MSB license from FinCEN in 2021, Coinexx still doesn’t operate in the United States
• Not registered with Canada’s FINTRAC and, as such, doesn’t serve Canadian users

Background and History

Coinexx came into existence in 2018, making it one of the oldest forex brokers around. The firm also keeps crypto in its sights, especially as a way of eliminating high fees and delayed payments.

Coinexx is known for its customer-centric approach. Although not explicitly regulated, it does adhere to Estonia’s crypto regulations.

Over 5,000 users have opened accounts on Coinexx, which is a decent number considering its 5+ years of operation.

How To Get Started on Coinexx

Good brokers keep the account registration headaches to a minimum. And Coinexx keeps this process simple.

First, hit the “Open an Account” tab. Then provide your basic details, verify your account, and you’re done.

That’s it. Once you’re verified, you’ll have access to the Coinexx dashboard.

You can select the MetaTrader 4 (MT4) or MetaTrader5 (MT5) trading terminal, based on your trading skills and preferences.

Then all that’s left is to fund your account and start trading. Note that USD and EUR are the only fiat currencies supported for initiating trades.

Alternatively, you can create a demo account to try trading on the platform with simulated funds. This is a great feature, one that only the more credible brokers typically provide.

Web and Mobile Platforms Explored

If I wanted to have a forex and crypto broker at my fingertips, I’d be slightly disappointed by the mobile version of Coinexx. It’s simply not as comprehensive as the web interface.

With your login credentials, you can use MetaTrader as a browser-based tool or mobile app. From there, you’ll get access to the trading products and instruments, including indices and commodities, alongside forex and crypto.

Here’s what the MT4 and MT5 apps have to offer.

Desktop App

• Advanced charting tools
• Customizable layouts
• Automated trading support via expert advisors

iOS App

• User-friendly layout
• Seamless credential generation
• Advanced charts

Android App

• End-to-end trading support
• Device sync capabilities
• Support for push notifications

Features

Let’s dive into the features and offerings on Coinexx to see if they’re worth your while.

Trading Instruments

Despite being known as a forex broker, Coinexx also lets you trade cryptocurrencies, commodities, and indices. All of these can be accessed via the MT4 and MT5 terminals.

All the major, minor, and exotic forex pairs are supported, including the following:

You can access and trade global indices, including baskets of the top global shares. Top commodities like oil, gold, and silver are also supported.

For crypto, Coinexx supports LTC, XRP, BTC, and ETH USD pairs.

Helpful Calculators

In addition to the MetaTrader tools, Coinexx comes equipped with several handy calculators:

• The forex calculator allows you to calculate potential profit- and loss-making positions before initiating a trade
• The margin calculator helps you pinpoint your actual leverage needs
• The pip calculator will help you better understand the spread

• Swap, PnL, and Currency Converter calculators to better assess the potential of your trades

Coinexx also comes packed with features like the Pro ECN account for more transparent scaling, algorithmic trading, and other manual trading activities.

You also get access to:

• MAM and PAMM accounts with dedicated money managers
• An economic calendar
• A Virtual Private Server (VPS) for uninterrupted demo and live trading

Fees, Costs, Limits, and More

Coinexx charges competitive commission rates that start at $4 for basic accounts and go down to $2 per lot for the Pro ECN accounts, courtesy of its deep liquidity pockets.

The spreads start at 0.0 pip and vary depending on how liquid the forex or crypto pair is.

There are no fees for depositing or withdrawing funds. Coinexx has a minimum of $5 for deposits and withdrawals, which is equivalent to 0.001 BTC.

All that sounds good, but you should be concerned about the lot sizes when using a broker that relies on third-party trading platforms. Regardless of the asset you trade, the minimum lot size on Coinexx is 0.01, with the maximum standing at 100 lots per trade.

Security and Customer Support

Coinexx employs a host of security implementations to protect user funds and account activities, including:

1. Fund segregation across cold storage wallets
2. End-to-end advanced encryption
3. Dual authentication while accessing account
4. Manual withdrawal monitoring

Unlike other brokers that use APIs for automatic withdrawals, Coinexx employs actual people to sign off on fund movements, making it one of the more secure options around.

Coinexx also boasts a prompt and serviceable customer support setup, which is part of the reason it earns a 4.3 star rating on Trustpilot.

Users get access to 24×5 technical support via the livechat interface on the website or the app. You can also reach the support team at [email protected].

Is Coinexx the Right Platform for You?

If you’ve been using feature-packed trading interfaces like MT4 and MT5 and want to start exploring the world of high-leverage, aggressive trading, Coinexx might be a good option for you.

If you’re also keen to trade digital assets alongside legacy assets like commodities and indices, Coinexx has you covered. 

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