Doing a search for online brokerages will show you a horde of options. Every other day, a new one springs up that claims to offer far better features than others and uses different methods for luring traders. Why do you need to use their services? If you have decided to trade cryptocurrencies, forex currency pairs, stocks, indices or other commodities, you are going to need a broker’s services to be able to do so. The problem with the numerous options is that every time you look at a brokerage, it seems the ideal fit. However, as there is no shortage of scams and frauds in the market, you have to be very cautious in your choice.
Similarly, even if the brokerage is legitimate, they might cause you a variety of issues later on and give you grief. Some of these brokerages can make trading extremely tough and you eventually have to switch, which is a time consuming process in itself. In other cases, some people have to change brokerages because the one they have chosen doesn’t offer the features they need. Does this mean there is no one comprehensive option? Indeed, there is and you can find it in the form of Coin2fx.
The brokerage has made a name for itself among the traders due to the fact that it offers a multitude of incentives to traders for using its services when they wish to trade in the market of their choice. The fact that it is new and doesn’t have much experience might make some traders question its credibility, but the features and services Coin2fx is offering shows its commitment to developing a positive and strong reputation in the market.
If you take a look at Coin2fx, you will discover that it is difficult to resist the complete and comprehensive package the online brokerage is offering you. In order to get started on the platform, you first need to sign up and create an account. When you are about to do this, you will notice the choices that you are offered. There is plenty of variety in the kind of account you can open on Coin2fx and it goes beyond the usual two to three options that other brokerages are known to present. This is because Coin2fx has aimed to offer unique accounts as per the trader’s risk tolerance and preference.
The procedure for sign up itself is quite simple and straightforward; you have to provide your name and email address, choose the currency for trading and set a password. It is essential to ensure that all details provided are authentic and free of errors because the account needs to be verified. Proof of address and identity are also needed. If your account is not verified, you will encounter problems when making withdrawals. But, before all of this, you need to decide the account you want and the options you will find are:
The first option is the basis account and has been created for those who are only just learning the basics of trading. The minimum deposit starts at €500, which is good for novices who are starting out, but they can deposit a greater amount as high as €2,500. Through this account, traders will be able to get trading alerts and signals, use advanced charts, attend trading sessions twice a month, access daily market review and use a junior account manager for two weeks. There is a loyalty bonus of 30%, customer support is provided 24/5 and 10% leverage can be enjoyed. Traders can also get part-access to Coin2fx’s education center.
With a minimum deposit of €2,500, the Silver account type is a good option for traders when they have gotten a little bit of experience in the trading market. It gives access to all the features that the basic account has to offer, but it boosts the number of trading sessions to twice a week instead of twice a month. Plus, the leverage is also increased to 20%.
This account type is aimed at seasoned traders who can start with an investment of €10,000 and can go as high as €50,000. There is also an increase in leverage in the Gold account as it is now 30% and traders are able to get complete access to all educational materials, enjoy exclusive updates and also watch webinars. Trading signals are available twice a day and junior as well as senior account managers are available. Trading sessions can also be attended three times a week.
Expert investors who can invest a minimum amount of €50,000 can open a Platinum account on Coin2fx. The investment can be increased up until it reaches €250,000 and both the leverage and loyalty bonus is increased to 40% with this account type. Traders are free to enjoy as many trading sessions as they prefer and trading signals are also provided thrice a day.
The wide array of account types on Coin2fx gives traders a lot of flexibility that they are not able to enjoy elsewhere. While you would expect this brokerage to operate on the MetaTrader platform like the countless others out there, but here again Coin2fx has chosen to be different. They operate on proprietary trading software, which is also one of the best software in the market and allows traders to smoothly and seamlessly manage and execute their trades. One of the best parts of this particular program is that it is immensely lightweight and doesn’t require a lot of space.
In this way, it is also able to stay free of any slowdowns and lags that can make execution of transactions time consuming and complex. The aim is to make trading a convenience for all traders and it can also be seen in the variety of deposit options that the platform has to offer. Coin2fx offers its support for a horde of currencies to make it easy for traders all over the globe to use its platform. Currently, you have two options at your disposal and can choose between Great Britain Pound (GBP) and Euros (EUR). However, bear in mind that no matter what currency you go for, you have to deposit an amount of at least 500. This external transfer of funds is free of any charges, but you might be charged by your bank. As long as the debit or credit cards are in your name, you can make transfers to and from with ease.
The same is applicable in the case of bank wire transfers. When you are using your Visa or MasterCard for funding your account, the process is immediate whereas wire transfer may take between 3 days and a week to be completed. You can also make use of online deposit options like Skrill and Neteller for your convenience. The withdrawals are also equally hassle-free for the traders, but they should know that there is a minimum withdrawal amount of 100 in the currency of your choice, whether you use your debit or credit cards or go with a wire transfer.
You can also use services like Neteller and PayPal for online withdrawals. These online services and cards will take at least three days for processing these payouts while wire transfers can take a week or 10 days. As far as withdrawal charges are concerned, Coin2fx offers its users the first withdrawal in a month free of charges. If additional withdrawals are made in the same month, a fee of EUR 25 or its GPB equivalent is applicable.
If you still have any questions about deposit and withdrawal or any other aspect of Coin2fx, you can seek the assistance of their customer service department. There is a full-fledged and reliable customer support team working at Coin2fx to provide assistance when necessary. They are quick in responding to make things easier and stress-free and traders have the option of reaching out to the team through email, Skype and live chat. A phone number is also provided on the website, which can be used for immediate assistance 24/5. The team is dedicated and can provide detailed solutions to any issues traders may have.
The customer service department is not the only area where Coin2fx has invested its resources. There is another aspect on which it has devoted a lot of time, effort and resources; security. Yes, this is of the utmost importance in the trading world because it is a romping ground for scammers, hackers and fraudsters and no one wants to be a victim. Security is a major concern of traders when they are signing up for a brokerage and Coin2fx has taken measures to ensure it is able to live up to the standards required.
The data of traders is protected in every single transaction conducted through their platform Coin2fx has used state of the art encryption and all confidential and private data is under 256-bit SSL encryption for providing comprehensive security and assurance. The website’s system can be controlled and accessed only through a firewall and security experts conduct routine checks to highlight and eliminate any loopholes in the system. Likewise, Coin2fx also encodes passwords and only account holders are aware of them due to which they are advised not to share them with anyone.
Apart from personal information, the security of funds is also crucial and Coin2fx has not lagged in this department either. They follow rigorous accounting procedures and company and client accounts are also segregated to avoid any mix ups. Anti-Money Laundering (AML) procedures have been put in place along with international fraud laws and regulations. No third party is given the authority to access or view any financial data, which is all encrypted.
Like all other brokerages, Coin2fx also wants to expand its user base. As a matter of fact, since it is a new one and is part of a competitive market, increasing its clients is crucial for its survival. Therefore, the brokerage has introduced a referral program to give an incentive to its existing customers to invite others in their circle to use their services. The best part about this program is that not only does it benefit Coin2fx, it can also benefit the trader recommending it. When a recommendation is made and the person signs up and makes a deposit, the trader gets 10% commission.
This means that a trader can actually earn thousands of dollars only through referrals. Another perk is that they also get 3% commission when one of their direct referrals also refers someone and they make a deposit. This allows a trader to make a fortune through commissions alone and combining it with their trading income can do wonders for their bottom line. The money earned through commissions can be used for trading as well.
If you are unsure about your trading activities, you can use Coin2fx’s extensive educational material for guidance. There are plenty of courses available on all kinds of trading and experts and professionals also conduct webinars to provide tips and tricks that can be incredibly useful in boosting profits and minimizing losses. Traders can also adopt new trading styles by following the advice given and this can be quite beneficial in the long run.
Thus, Coin2fx can definitely be a good choice when you are looking for an online brokerage for your trading activities. You can use their services for trading in the foreign currency market as it offers you some of the most exotic currency pairs such as Turkish Lira, Hong Kong Dollars, Singapore Dollars, South African Rand, Russian Ruble and more. Cryptocurrencies like Bitcoin, Litecoin and Ethereum are also available, along with commodities such as wheat and rice and stocks.