Coinsoft-Overview of Minimum Deposit, Leverage, Spreads

General Information

Coinsoft presents itself as a hedge fund oriented exclusively on serving corporate clients, based in Saint Vincent and the Grenadines and founded in 1994, providing its clients with a web-based trading platform, over 200 tradable assets with leverage up to 1:400 and variable spreads, as well as a choice of seven different account types.

Market Instruments

Coinsoft advertises that it offers access to more than 200 trading instruments in financial markets, including currencies, commodities, stocks and indices.

Account Types

Apart from demo accounts, there are seven live trading accounts offered by Coinsoft, namely Basic, Bronze, Silver, Gold, Platinum, Diamond and Black. Opening a Basic account requires the minimum deposit of $250, while the other six account types with the minimum initial capital requirements of $1,000, $3,000, $7,000, $15,000, $25,000 and $50,000+ respectively.

Leverage

The leverage ratios provided by Coinsoft vary from 1:100 to 1:400. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Spreads

According to the information displayed on the Internet, the spread for the major currency pair-EUR/USD seems to be no less than 1.5 pips.

Trading Platform Available

When it comes to trading platforms available, instead of the industry standard MetaTrader4 and MetaTrader5 platforms, Coinsoft gives traders a web-based platform. It looks clean and is equipped with some basic features but seems to lack some functionalities like Expert Advisors (EA) and automated trading, while they are available on MT4 and MT5.

Deposit & Withdrawal

From the logos showed at the bottom of home page on Coinsofts official website, we found that this broker seems to accept deposit and withdrawal via Wire Transfer, MasterCard, VISA, Skrill and Maestro. The minimum deposit is $250 and the minimum withdrawal amount is $50, with a flat fee of $30 per withdrawal request. Also, traders holding different account types can enjoy different times of free withdrawal. For instance, clients on the Bronze account can experience first withdrawal for free, the Silver account can enjoy 5 withdrawals for free, the Gold account with 10 withdrawals for free, while the Platinum or Diamond or Black account can enjoy unlimited free withdrawals.

Fees

Coinsoft also charges an inactivity fixed fee of $100 every 3 months, however, the broker doesnt reveal any information about how and when an account will become dormant.

Customer Support

Coinsofts customer support can be reached through telephone: +442030975412, +442030975413, email: support@coinsoft.io or send messages online to get in touch. Besides, you can also follow this broker on some social media platforms like Facebook and YouTube. Registered Address: First Floor, St. Vincent Bank Ltd Building, James Street, P.O. Box 1574, Kingstown, St. Vincent and the Grenadines.