CoinsBanking-Overview of Minimum Deposit, Leverage, Spreads
abstrak：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.
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