Binary options are prohibited in the European Economic Area. Between 74-89 % of retail investor accounts lose money when trading CFDs.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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CoinFinex Broker Review

  1. CoinFinex is a so-called boutique broker, offering Crypto Currencies trading on the MT4 platform, via CFDs. The CoinFinex online trading platform is provided and operated by the company named 21 Wolfs Ltd, incorporated in Bulgaria. This brokerage claims to be in the Fintech business for over 7 year, whereas CoinFinex was launched in 2017. There is no information to be found on their trading regulation status, other than they are fully compliant with the domestic (Bulgarian) and EEA laws against terrorist financing and money laundering.

    For more details on CoinFinex, continue reading our full broker review.

  2. Account Features

    With CoinFinex, there are several account types available, based on the deposit amount. This is presumably to reward all those traders with larger investment potential, by giving them a more prominent trading start. In addition, the minimum deposit of $500 also suggests this broker prefers bigger pocket investors.

    Here are the key features of three accounts offered by CoinFinex:

    CoinFinex Beginner Account

    • Deposit of € 500 to €5000€
    • Bonus Up to 20% according to T&C
    • Leverage ratios of 1:2 on UST pairs / 1:4 on others
    • Zero Spread
    • 6% Commissions
    • Access to Webinars
    • Daily Market Updates & Reviews

    CoinFinex Standard Account

    • Deposit of €5000 – €25000
    • Bonus Up to 50% according to T&C
    • Leverage ratios of 1:2 on UST pairs / 1:4 on others
    • Zero Spread
    • 5% Commissions
    • Access to webinars and Professional Account Manager
    • Daily Trades

    CoinFinex Professional Account

    • Deposit above €25000
    • Bonus Up to 100% according to T&C
    • Leverage ratios of 1:2 on UST pairs / 1:4 on others
    • Zero Spread
    • 4% Commissions
    • Access to webinars and Professional Account Manager
    • Daily Trades
    • Taylor made Goals

     

    Aside from the deposit size, you can easily upgrade to a higher account, by meeting the goals in each. So, if you reach 25M Turnover, you can upgrade from Beginner to Standard account.

    If you reach 75M Turnover, you can upgrade to Gold, which is probably an outdated name of the Professional Account.

    If you have paid €25,000 to begin with, you can tailor your own goals.

    The commissions CoinFinex maintains are not included in the spread and seem very high, ranging from 4% to 6%. On top, unlike most other CFD brokers, this broker charges a fee per each trade.

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  5. Trading Software & Assets

    CoinFinex uses the standard MT4 trading platform for live web trading and offers a downloadable Android trading app. The trading platform itself – CoinFinex Webtrader, is well designed, apparently bug-free, user friendly, with abundance of charts and trading graphs to gain and maintain trading analysis at all times.

    You can easily reach for the Ebook or Educational Crypto Trading video lessons, or read the latest market news and browse through the trading calendar

    CoinFinex Assets

    With quite the number of Crypto Currency CFDs available at CoinFinex, such as BTC, ETH, LTC, DASH, REP, TRX and so on, we have not seen several other available major coins, such as Ripple or Tether, even though they are advertised on several pages of their website.

    All available assets are traded against the UST currency, which is also the currency to which your account is denominated to. It remains a mystery what this account currency abbreviation stands for.

    CoinFinex Bonus Policy

    With special attention to the reputation of the bonuses policy in online trading, and their EU ban imposed to all EU and CySEC regulated brokers, we have found yet another proof of the unregulated status of this broker in their open bonus offering. As made public on their website, the bonuses range from up to 20% to up to 100%, with no clear or detailed bonus policy set forth in their terms and conditions.

  6. If you want to trade with an award-winning licensed broker, we recommended using IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs

  7. Support Information

    This broker is clearly proud to provide their support 24/6 and has its website information in the English and German language. Furthermore, the trading platform, can be used in English, German, as well as in Arabic and Italian language, although this does not refer to the eBook and education materials in the trading platform.

    CoinFinex can be reached via on-site and in-account live chat support, messaging (email, and contact form) and phone. Unfortunately, we did not get to experience their live chat option, because they were not online at the time of this review.

  8. Try trading with an award-winning broker like IQ Option

    Between 74-89 % of retail investor accounts lose money when trading CFDs

  9. Banking & Company Information

    The deposit can be made in USD, EUR and GBP currency and, as mentioned earlier is denominated to UST currency.

    The full list of payment methods available may vary based on the residing country of the investor, but most of the investors can deposit via bank wire, credit card or Bitcoin.

    Even though there are many wallets’ logos to be found on the website, we have found only the UPayCard Wallet listed as available for deposit, which is rather disappointing given the extensive range of wallets available nowadays.

    There is no limitation or minimum requirements set forth for withdrawals, amount- or otherwise.

    All withdrawals are handled within 7 days, with a note that additional transaction charges may be applied.

  10. Conclusion:

    We make it our mission to not recommend anything but the best – which, according to industry experts, is IQ Option, the top regulated broker for your country with a minimum deposit of ONLY $10!

    • FREE $10,000 demo account
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    • Licensed and regulated broker

    Trade with an
    award-winning broker
    like IQ Option

     

     

    Between 74-89 % of retail investor accounts lose money when trading CFDs
    11. Your capital is at risk

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