Compare FX Choice vs Coinexx
What is FX Choice? What is Coinexx?
FX Choice is a Belize-based broker established in 2010 and registered with the Financial Services Commission (FSC). The brand offers a wide selection of markets including crypto, plus the familiar MT4 and MT5 platforms. FX Choice stands out for its extra tools and perks, from LearnFx EAs to a VPS and Myfxbook’s AutoTrade. New users can also claim a welcome bonus upon sign-up.
Coinexx is an unregulated broker that provides leverage up to 1:500 on forex, commodities, indices and cryptocurrencies with deep liquidity, pure ECN spreads and negative balance protection. The broker uses crypto as base currencies and has low minimum deposit requirements of 0.001 BTC.
FX Choice vs Coinexx Regulation Comparison
FX Choice is regulated by the FSC of Belize, which is not a very reputable or strict regulator in the forex industry. Coinexx is not regulated by any authority, which means that there is no guarantee of the safety of client funds or the fairness of trading practices.
FX Choice vs Coinexx Trading Assets Comparison
FX Choice offers over 40 currency pairs, 15 indices, 4 commodities, 3 metals and 35 cryptocurrencies to trade on its platforms. Coinexx offers over 60 currency pairs, 11 indices, 5 commodities, 3 metals and 25 cryptocurrencies to trade on its platforms.
FX Choice vs Coinexx Trading Fees Comparison
FX Choice charges variable spreads starting from 0.0 pips on its ECN account and from 0.5 pips on its Classic account. The broker also charges a commission of $3.5 per lot per side on its ECN account and no commission on its Classic account. Coinexx charges variable spreads starting from 0.0 pips on all its account types. The broker also charges a commission of $2 per lot per side on all its account types.
FX Choice vs Coinexx Account Types Comparison
FX Choice offers two account types: Classic and Pro (ECN). The minimum deposit for both accounts is $100 and the maximum leverage is 1:200 for forex and metals, and 1:25 for cryptocurrencies. The minimum trade size is 0.01 lots and the margin call level is 25%.
Coinexx offers four account types: Standard, Mini, Micro and Nano. The minimum deposit for all accounts is 0.001 BTC and the maximum leverage is 1:500 for forex and metals, and 1:100 for cryptocurrencies. The minimum trade size is 0.01 lots for Standard, 0.1 lots for Mini, 1 lot for Micro and 10 lots for Nano. The margin call level is 100%.
FX Choice vs Coinexx Deposit Options Comparison
FX Choice accepts deposits and withdrawals via credit/debit cards, bank wire transfers, e-wallets (Skrill, Neteller, Perfect Money, etc.) and cryptocurrencies (Bitcoin, Ethereum, etc.). The broker does not charge any fees for deposits or withdrawals, but third-party fees may apply. Coinexx accepts deposits and withdrawals only via cryptocurrencies (Bitcoin, Ethereum, etc.). The broker does not charge any fees for deposits or withdrawals, but network fees may apply.
FX Choice vs Coinexx Trading Platforms Comparison
FX Choice offers the popular MetaTrader 4 (MT4) and MetaTrader 5 (MT5) platforms for desktop, web and mobile devices. The platforms support multiple order types, charting tools, indicators, EAs, scripts and more. Coinexx also offers the MT4 and MT5 platforms for desktop, web and mobile devices with similar features as FX Choice.
FX Choice vs Coinexx Analytical Tools Comparison
FX Choice provides some extra tools and perks for its clients, such as LearnFx EAs that can help traders learn how to use EAs effectively, GPS robot that can generate consistent profits with low risk, VPS service that can enhance trading performance and security, Myfxbook’s AutoTrade that can allow traders to copy successful strategies from other traders, Pips+ loyalty program that can reward active traders with fee rebates and more.
Coinexx does not offer any additional tools or perks for its clients apart from a free VPS service for active traders who maintain a minimum balance of $5000 or equivalent in their accounts.
FX Choice vs Coinexx. Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker depends on your personal preferences and trading goals. There is no definitive answer to which broker is better, as each one has its own advantages and disadvantages. However, here are some possible factors you may want to consider:
- Regulation: If you value the security and protection of your funds, you may prefer a broker that is regulated by a reputable authority. FX Choice is regulated by the FSC of Belize, which is not very strict, but still better than nothing. Coinexx is not regulated at all, which means that you are taking a higher risk by trading with them.
- Trading Assets: If you want to diversify your portfolio and trade a variety of markets, you may prefer a broker that offers more trading assets. FX Choice offers more cryptocurrencies than Coinexx, while Coinexx offers more currency pairs than FX Choice. Both brokers offer similar number of indices, commodities and metals.
- Trading Fees: If you want to save on trading costs and maximize your profits, you may prefer a broker that charges lower fees. Coinexx charges lower spreads and commissions than FX Choice on all its account types. However, you may also want to consider other factors such as execution speed, slippage and requotes, which may affect your trading performance.
- Account Types: If you want to have more flexibility and control over your trading conditions, you may prefer a broker that offers more account types. Coinexx offers four account types with different minimum trade sizes and base currencies. FX Choice offers two account types with similar features except for the commission structure.
- Deposit and Withdrawal Options: If you want to have more convenience and speed in funding and withdrawing your money, you may prefer a broker that accepts more payment methods. FX Choice accepts both fiat and crypto currencies via various channels such as cards, wire transfers and e-wallets. Coinexx only accepts crypto currencies via blockchain transactions.
- Trading Platforms: If you want to have more functionality and customization in your trading platforms, you may prefer a broker that offers more options. Both brokers offer the popular MT4 and MT5 platforms for desktop, web and mobile devices. However, FX Choice also provides some extra tools and perks such as LearnFx EAs, GPS robot, Myfxbook’s AutoTrade and Pips+ loyalty program.
- Analytical Tools: If you want to have more support and guidance in your trading decisions, you may prefer a broker that offers more analytical tools. FX Choice provides some extra tools and perks such as LearnFx EAs, GPS robot, Myfxbook’s AutoTrade and Pips+ loyalty program. Coinexx does not offer any additional tools or perks apart from a free VPS service for active traders.
Ultimately, the choice is yours. You may want to do your own research and test both brokers with a demo account before making a final decision.
