CoinsBanking-Overview of Minimum Deposit, Leverage, Spreads

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

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

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.

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.

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.

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.