Compare Forex.com vs Coinexx
What is Forex.com? What is Coinexx?
Forex.com is a global forex broker that offers trading services in over 180 currency pairs, as well as CFDs on indices, commodities, metals, and cryptocurrencies. Forex.com is regulated by several authorities, including the FCA in the UK, the NFA in the US, and the ASIC in Australia.
Coinexx is an offshore forex broker that offers trading services in over 60 currency pairs, as well as CFDs on indices, commodities, metals, and cryptocurrencies. Coinexx is not regulated by any authority and operates from St. Vincent and the Grenadines.
Forex.com vs Coinexx Regulation Comparison
Forex.com has a clear advantage over Coinexx in terms of regulation, as it is licensed and supervised by reputable regulators in major jurisdictions. Forex.com also provides investor protection schemes for its clients, such as the Financial Services Compensation Scheme (FSCS) in the UK and the Securities Investor Protection Corporation (SIPC) in the US. Coinexx, on the other hand, is an unregulated broker that does not offer any security or guarantee for its clients’ funds. Coinexx clients are exposed to higher risks of fraud, manipulation, and insolvency.
Forex.com vs Coinexx Trading Assets Comparison
Forex.com and Coinexx both offer a wide range of trading instruments, including forex, indices, commodities, metals, and cryptocurrencies. However, Forex.com has more currency pairs (over 180) than Coinexx (over 60), which gives more options and opportunities for forex traders. Forex.com also offers some unique products, such as spread betting (only for UK and Ireland clients) and physical stocks (only for US clients). Coinexx does not have these products in its portfolio.
Forex.com vs Coinexx Trading Fees Comparison
Forex.com and Coinexx both charge variable spreads and commissions for their trading services. The spreads and commissions vary depending on the account type, trading platform, market conditions, and trading volume. Forex.com offers three account types: Standard, Commission, and DMA. The Standard account has no commission but higher spreads, while the Commission and DMA accounts have lower spreads but charge a commission per trade.
Coinexx offers four account types: Classic, Pro, ECN XL, and ECN XXL. The Classic account has no commission but higher spreads, while the Pro, ECN XL, and ECN XXL accounts have lower spreads but charge a commission per trade. The commission rates for both brokers are similar, ranging from $2 to $5 per lot round turn. However, the spreads for Coinexx are generally lower than those for Forex.com, especially for the ECN XL and ECN XXL accounts.
Forex.com vs Coinexx Account Types Comparison
Forex.com offers three account types: Standard, Commission, and DMA. The minimum deposit for all account types is $100 or equivalent. The maximum leverage for all account types is 1:30 for major currency pairs and lower for other instruments. The minimum trade size for all account types is 0.01 lot or 1 micro lot.
Coinexx offers four account types: Classic, Pro, ECN XL, and ECN XXL. The minimum deposit for all account types is $7 or equivalent in cryptocurrencies. The maximum leverage for all account types is 1:500 for all instruments. The minimum trade size for all account types is 0.01 lot or 1 micro lot.
Forex.com vs Coinexx Deposit Options Comparison
Forex.com offers various deposit and withdrawal options for its clients, including bank wire transfer, credit/debit card, PayPal, Skrill, Neteller, UnionPay (only for China clients), and ACH (only for US clients). The processing time for deposits is usually instant or within one business day, while the processing time for withdrawals is usually within two business days. Forex.com does not charge any fees for deposits or withdrawals, but some third-party fees may apply depending on the payment method.
Coinexx only accepts deposits and withdrawals in cryptocurrencies, such as Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Monero (XMR), Dash (DASH), etc. The processing time for deposits and withdrawals is usually within a few hours or less depending on the blockchain confirmation time. Coinexx does not charge any fees for deposits or withdrawals, but some network fees may apply depending on the cryptocurrency used.
Forex.com vs Coinexx Trading Platforms Comparison
Forex.com offers two main trading platforms: MetaTrader 4 (MT4) and Advanced Trading Platform (ATP). MT4 is a popular and widely used platform that supports automated trading with expert advisors (EAs), custom indicators, scripts, and backtesting tools. ATP is a proprietary platform developed by Forex.com that offers advanced charting tools, trading signals from Trading Central, integrated news from Reuters, and customizable trading strategies. Both platforms are available as desktop applications, web-based versions, and mobile apps for iOS and Android devices.
Coinexx also offers MT4 as its main trading platform, with the same features and functionalities as Forex.com. However, Coinexx does not have its own proprietary platform like Forex.com’s ATP.
Forex.com vs Coinexx Analytical Tools Comparison
Forex.com and Coinexx both provide various analytical tools for their clients, such as economic calendars, market news, technical analysis, trading signals, and educational resources.
However, Forex.com has more comprehensive and diverse tools than Coinexx, such as the Trading Central’s technical insights, the Autochartist’s pattern recognition, the Recognia’s trading ideas, and the TradingView’s social trading network. Coinexx does not have these tools in its offering.
Forex.com vs Coinexx. Which forex broker is better? Which forex broker should you choose?
There is no definitive answer to which forex broker is better or which one you should choose, as different brokers may suit different traders depending on their preferences, needs, and goals. However, here are some of the main advantages and disadvantages of Forex.com and Coinexx as follows:
- Forex.com has a clear edge over Coinexx in terms of regulation, security, and investor protection, as it is licensed by reputable authorities in major jurisdictions and offers compensation schemes for its clients. Forex.com also has more currency pairs and unique products than Coinexx, which gives more options and opportunities for forex traders. Forex.com also has its own proprietary platform (ATP) that offers advanced features and tools for traders, as well as various third-party tools such as Trading Central, Autochartist, Recognia, and TradingView.
- Coinexx has a clear edge over Forex.com in terms of trading costs, as it offers lower spreads and commissions than Forex.com, especially for its ECN XL and ECN XXL accounts. Coinexx also has higher leverage than Forex.com, which may appeal to some traders who want to take more risks and increase their potential returns. Coinexx also accepts deposits and withdrawals in cryptocurrencies, which may be convenient for some traders who prefer to use digital assets instead of fiat currencies.
Ultimately, the choice between Forex.com and Coinexx depends on your personal preferences, needs, and goals. You should consider various factors such as regulation, security, trading costs, trading instruments, trading platforms, analytical tools, customer service, etc. before deciding which broker to trade with. You should also do your own research and due diligence before opening an account with any broker.
