Compare ForexMart vs Coinexx
What is ForexMart? What is Coinexx?
ForexMart is a brand name of Instant Trading EU Limited, a forex and CFD broker based in Cyprus. The company has been in operation since 2015 and holds a CIF license with the Cyprus Securities and Exchange Commission (CySEC). ForexMart offers the MT4 platform, over 150 trading instruments, and various account types and bonuses.
Coinexx is a forex and crypto broker that operates anonymously and without regulation. The company claims to be based in the UK, but does not provide any verifiable information about its identity or location. Coinexx offers the MT4 and MT5 platforms, over 200 trading instruments, and crypto-based accounts with high leverage and low spreads.
ForexMart vs Coinexx Regulation Comparison
ForexMart is regulated by CySEC, which is a reputable and trustworthy regulator in the EU. CySEC ensures that ForexMart complies with the MiFID II directive, which provides investor protection, market transparency, and fair competition. ForexMart also participates in the Investor Compensation Fund (ICF), which covers up to €20,000 per client in case of broker insolvency.
Coinexx is not regulated by any authority, which means that it operates illegally and without oversight. There is no guarantee that Coinexx follows any ethical or professional standards, or that it segregates client funds from its own. There is also no recourse for clients in case of disputes, complaints, or broker bankruptcy. Trading with Coinexx involves a high level of risk and uncertainty.
ForexMart vs Coinexx Trading Assets Comparison
ForexMart offers a decent range of trading assets, including 108 forex pairs, 43 shares, 5 cryptocurrencies, 7 indices, and 2 commodities. However, some popular instruments are missing, such as metals, energies, futures, options, ETFs, and bonds.
Coinexx offers a wider and more diverse range of trading assets, including 62 forex pairs, 100 shares, 25 cryptocurrencies, 11 indices, 4 metals, 2 energies, and 2 futures. Coinexx covers most of the major and minor markets, as well as some exotic and niche ones.
ForexMart vs Coinexx Trading Fees Comparison
ForexMart charges variable spreads and commissions on its trading accounts. The spreads start from 0.6 pips on the Classic account, 0.4 pips on the Pro account, and 0 pips on the Zero Spread account. The commissions are $0 on the Classic account, $2 per lot on the Pro account, and $20 per lot on the Zero Spread account. ForexMart also charges swap fees for overnight positions, as well as inactivity fees after six months of no trading activity.
Coinexx charges variable spreads and commissions on its trading accounts. The spreads start from 0 pips on all accounts, but the commissions vary depending on the base currency and the instrument traded. The commissions range from $2 to $10 per lot for forex pairs, and from $0.01 to $0.1 per lot for cryptocurrencies. Coinexx does not charge any swap fees or inactivity fees.
ForexMart vs Coinexx Account Types Comparison
ForexMart offers three types of live trading accounts: Classic, Pro, and Zero Spread. The minimum deposit for all accounts is $1, and the maximum leverage is 1:30 for EU clients and 1:500 for non-EU clients. All accounts offer negative balance protection, market execution, and access to all trading instruments.
Coinexx offers four types of live trading accounts: Standard, ECN XL, Pro ECN, and Crypto ECN. The minimum deposit for all accounts is 0.001 BTC or equivalent in other cryptocurrencies. The maximum leverage is 1:500 for all accounts except Crypto ECN, which has a leverage of 1:200. All accounts offer market execution and access to all trading instruments except Crypto ECN, which only offers cryptocurrencies.
ForexMart vs Coinexx Deposit Options Comparison
ForexMart supports various deposit and withdrawal options, including credit/debit cards (Visa/Mastercard), bank wire transfer (SWIFT/SEPA), e-wallets (Neteller/Skrill), local payment methods (PayCo/PaySafeCard), and cryptocurrencies (Bitcoin/Ethereum). The processing time varies from instant to five business days depending on the method used. ForexMart does not charge any deposit or withdrawal fees.
Coinexx only supports cryptocurrency deposits and withdrawals via its own wallet system. The supported cryptocurrencies are Bitcoin, Litecoin, Ethereum, Monero, Dash, and 20 more. The processing time is usually within 24 hours, but may take longer depending on the network congestion. Coinexx does not charge any deposit or withdrawal fees, but the network fees are borne by the clients.
ForexMart vs Coinexx Trading Platforms Comparison
ForexMart offers the MetaTrader 4 (MT4) platform, a powerful and user-friendly trading tool used by millions worldwide. The platform allows traders to track several charts simultaneously, trade directly from the chart, place orders, and manage multiple orders. The platform also supports over 40 technical analysis indicators, 9 time frames, customisable interface, live pricing feed, history of trades, and automated trading with expert advisors (EAs). ForexMart provides the MT4 platform in three versions: desktop, web, and mobile.
Coinexx offers the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms, the most popular and advanced trading platforms in the industry. The platforms offer similar features as ForexMart’s MT4 platform, but with some additional benefits. The MT5 platform supports more instruments, more order types, more indicators, more time frames, more analytical tools, and more execution modes than the MT4 platform. Coinexx provides the MT4 and MT5 platforms in three versions: desktop, web, and mobile.
ForexMart vs Coinexx Analytical Tools Comparison
ForexMart provides some basic analytical tools to its clients, such as daily market analysis, economic calendar, forex calculator, VPS service, and trading signals. However, these tools are not very comprehensive or sophisticated, and may not meet the needs of advanced or professional traders.
Coinexx does not provide any analytical tools to its clients, except for the ones built into the MT4 and MT5 platforms. This means that traders have to rely on their own research and analysis, or use third-party tools and services. Coinexx does not offer any educational or informational resources either.
ForexMart vs Coinexx. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker is an important decision that depends on your personal preferences, goals, and risk appetite. There is no definitive answer to which broker is better, as different brokers may suit different traders. However, you can compare ForexMart and Coinexx on some key aspects and make an informed choice. Here are some points to consider:
- Regulation: ForexMart is regulated by CySEC, a reputable and trustworthy regulator in the EU. Coinexx is not regulated by any authority, which means that it operates illegally and without oversight. Trading with a regulated broker gives you more security, protection, and peace of mind than trading with an unregulated broker.
- Trading Assets: Coinexx offers a wider and more diverse range of trading assets than ForexMart, including more forex pairs, shares, cryptocurrencies, indices, metals, energies, and futures. Trading with a broker that offers more instruments gives you more opportunities, flexibility, and diversification than trading with a broker that offers fewer instruments.
- Trading Fees: Coinexx charges lower spreads and commissions than ForexMart on most of its trading accounts. Trading with a broker that charges lower fees gives you more profitability, efficiency, and cost-effectiveness than trading with a broker that charges higher fees.
- Account Types: ForexMart offers three types of live trading accounts: Classic, Pro, and Zero Spread. Coinexx offers four types of live trading accounts: Standard, ECN XL, Pro ECN, and Crypto ECN. Both brokers offer different account features, such as minimum deposit, maximum leverage, negative balance protection, market execution, and access to trading instruments. Trading with a broker that offers an account type that matches your trading style, budget, and preferences gives you more satisfaction, comfort, and performance than trading with a broker that does not offer such an account type.
- Deposit and Withdrawal Options: ForexMart supports various deposit and withdrawal options, including credit/debit cards, bank wire transfer, e-wallets, local payment methods, and cryptocurrencies. Coinexx only supports cryptocurrency deposits and withdrawals via its own wallet system. Both brokers do not charge any deposit or withdrawal fees. Trading with a broker that supports your preferred payment method gives you more convenience, speed, and accessibility than trading with a broker that does not support such a payment method.
- Trading Platforms: ForexMart offers the MetaTrader 4 (MT4) platform. Coinexx offers the MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms. Both brokers provide the platforms in three versions: desktop, web, and mobile. The platforms offer similar features as well as some additional benefits. Trading with a broker that offers a platform that meets your technical requirements, preferences, and expectations gives you more functionality, usability, and reliability than trading with a broker that does not offer such a platform.
- Analytical Tools: ForexMart provides some basic analytical tools to its clients, such as daily market analysis, economic calendar, forex calculator, VPS service, and trading signals. Coinexx does not provide any analytical tools to its clients. Both brokers rely on the tools built into the MT4 and MT5 platforms. Trading with a broker that provides analytical tools that help you make better trading decisions gives you more insight, guidance, and support than trading with a broker that does not provide such tools.
Based on these points, you can see that ForexMart and Coinexx have their own strengths and weaknesses. ForexMart has the advantage of being regulated by CySEC and offering various payment methods. Coinexx has the advantage of offering more trading assets and lower fees. Ultimately, the choice is yours to make based on your own criteria and preferences.
