CoinsBanking-Overview of Minimum Deposit, Leverage, Spreads

WikiFX | 2024-11-14 18:49

Abstract：CoinsBanking, namely Coinswitch LTD, is an emerging online Forex corporation registered in Dominica. It offers Forex, Commodity, Stock, and Cryptocurrency trading via a web-based trading platform. The minimum deposit to open a live account is $250. Currently, it has no valid regulations.

Note: CoinsBanking's official website: https://coinsbanking.com is currently inaccessible normal.

CoinsBankingReview Summary
Founded	2021
Registered Country/Region	Dominica
Regulation	Unregulated
Market Instruments	Forex, Commodity, Stock, Cryptocurrency
Demo Account	/
Leverage	Up to 1:100
Spread	0.1 pips
Trading Platform	Web Trader
Min Deposit	$250
Customer Support	Phone: +441218276121
	Email: info@coinsbanking.com
	Company Address: 2021/IBC00025 Address: 8 Copthall, Roseau Valley, 00152 Commonweal

CoinsBanking, namely Coinswitch LTD, is an emerging online Forex corporation registered in Dominica. It offers Forex, Commodity, Stock, and Cryptocurrency trading via a web-based trading platform. The minimum deposit to open a live account is $250. Currently, it has no valid regulations.

Pros & Cons

Pros	Cons
None	Lack of regulation
	Unfunctional website
	No MT4/5
	High minimum deposit

Is CoinsBanking Legit?

CoinsBanking operates without regulation. What's more, it is based in Dominica, which is known for its offshore scam brokers. There is no reason CoinsBanking can be a legitimate broker.

What Can I Trade on CoinsBanking?

The trading list consists of an array of tradable assets, including Cryptocurrencies, Stocks, Forex, and Commodities.

Trading Asset	Available
forex	✔
commodities	✔
stocks	✔
cryptocurrencies	✔
indices	❌
bonds	❌
options	❌
ETFs	❌

Account Type

It is unclear whether CoinsBanking offer demo accounts or not. The minimum deposit requirement to open a live account is as high as $250, while most other brokers require only $100, or even no threshold.

Account Type	Min Deposit
Silver	$250
Gold	$500
Platinum	$1,000

Leverage

CoinsBanking provides access to leverage up to 1:100 to any of its clients. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

Spreads & Commissions

All we know is that this broker is supposedly provides the 0.1 pips, and there is no commissions info referred.

Trading Platform

CoinsBanking offers a fairly uninteresting web-based trading platform that is inferior to Metatrader 5.

Trading Platform	Supported	Available Devices	Suitable for
Web Trader	✔	Web	/
MT4	❌	Desktop, Mobile, Web	Beginners
MT5	❌	Desktop, Mobile, Web	Experienced traders

Deposit and Withdrawal

CoinsBanking accepts deposits via credit cards. In addition, CoinsBanking charges the withdrawal fee of $30 on any withdrawal that can be justified.

Leverage Broker Currency Pair Dealer Forex trading Forex Broker

Related broker

No Regulation

CoinsBanking

Company name：Coinswitch LTD

Score

1.48

2-5 years | Suspicious Regulatory License | Suspicious biz area | High potential risk

Score

1.48

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