Coinexx is a trading company that tries to appeal to the general population of traders by offering one of the widest selections for cryptocurrency trading on the market. However, despite the companies many efforts that include amazing leverage and spreads that seem to be out of this world, there is still a lot of things missing.
In this Coinexx review, we will show you exactly why we find this broker company alarming, and why we advise you to steer clear of it. We have done our due diligence and dug deep to find all of the good and the bad sides of Coinexx. The results of our efforts are displayed in this review, so keep reading if you want to find out.
Quality of Service
One of the best examples of the company’s dedication to your trading success is their platform. In the case of Coinexx, their team has made sure to provide you with an equal amount of efficiency and effort to guide you through your trading journey. Coinexx trading platform has two modes – MT4 and MT5. These are the top-leading platform types in the industry, with a lot of advantages for the clients worldwide.
The MT4 platform is easily adjustable to any device including both desktop and mobile, so you can access it whenever and wherever you are. It also allows you to take advantage of the many charts, indicators and other tools that can advance your trading day and help you create a suitable trading strategy.
On the other hand, the MT5 platform takes you even further than you would imagine. The trading platform here is even faster and more efficient while giving you a variety of trading signals and analytic tools to improve your trading experience. The asset selection is not at all admirable, though – around 80 CFDs, cryptocurrencies and commodities in total. Also, the clear absence of an educational section makes it tough for the clients to learn their way around and improve their knowledge.
Speed of Response
This is where things start to go south with Coinexx. Namely, the customer support is claimed to be always available through many communication channels. However, the truth is far from it. There are many things missing from this section, including the fact that the customer support agents aren’t available through the phone and rarely respond via email. The only reliable option is live chat. However, considering that they are not responsive through other forms, you can imagine how crowded this section can be.
The deposit and withdrawal process here is quite efficient – it only takes 48 hours to process your request. However, the huge downside is the fact that you can only use e-wallets – considering that the company emphasizes the cryptocurrency trading part of their services. So if you wish to use your credit or debit card, it would be wise to keep looking.
The commissions and fees at Coinexx are listed clearly on the website, so there are no surprises along the way. For example, the commission per lot is $2, with the minimum trade size of 0.01 lots. The maximum is 100 lots, so there are a lot of choices and combinations you can make while trading. We should also note that there are different fees that come with a variety of account types available on the platform, so you should read that in detail on their website before choosing the right one.
Coinexx is an unregulated company that is based in Seychelles. This is a popular spot of off-shore brokerages that tend to bend the rules or avoid them altogether. This is quite risky for the clients, who are not offered any type of security or protection of their data or funds.
Variety of Payment Options
As we mentioned already, Coinexx is pushing hard for you to trade cryptocurrencies with them, and nothing else, as it would seem. This is evident in their depositing and withdrawal options. Namely, the list goes on and on, showing you around 20 different types of crypto wallets that support Bitcoin, Litecoin, Dash and Ethereum, among other cryptos. However, there seem to be no options for using credit and debit cards or bank wire transfer, which is a huge disadvantage in our book.