Coinibank Broker Rating
Coinibank has helped in distinguishing it from others in the market is that it helps clients in earning through methods other than trading. With this account, traders can earn an income in the form of interest, the same way you do when you deposit your money in a bank account.
One of the most lucrative markets in the world that has successfully attracted the attention of hundreds of thousands of people is that of online trading. People will find thousands of financial assets at their disposal and the most appealing feature of the market is that you can generate solid returns, even with minimal investment. You have probably come across stories of various investors who started in the trading market with a small sum and were able to make it big in a very short span of time. Obviously, you would want to enjoy the same level of success.
Furthermore, you don’t need to have any trading background or experience to get started. In fact, you can start trading as a hobby or as a way to supplement your income. You can even adopt it as a full-time career, even if you don’t have any prior knowledge. The only requirement that you have to fulfill is to be at least 18 or above. However, in order to succeed, you have to remember that you need a great deal of skills, knowledge of the market and know some good strategies as well. But, they are not the only factors that will determine your success. You also need to choose a good and reliable broker as they will give you access to the trading platform, tools and any other resources that you might need to start trading.
The number of online brokers has shot up significantly in the last few years due to the popularity of online trading and there are hundreds of them that are offering their services. The only issue is that even though there are lots of choices, not all of them will work out in your favor. Making claims is extremely easy for brokers, but not many are able to live up to them. What makes it worse is the fact that scams have become widespread in the trading market and cybercriminals are constantly looking for ways to take advantage of people.
There have been numerous instances where brokerages were hacked by cybercriminals and they stole customer funds or their information. Some scammers have gotten quite sophisticated and have gone as far as to set up completely fake brokerages to entrap people, especially those who don’t have much knowledge about the market or brokers. It can often be difficult to distinguish between reliable and shady brokers because the scammers have gotten smarter with time. Therefore, doing your due diligence is important when you are looking for a broker.
The same applies in the case of Coinibank. During your search, you will come across this CFD and forex broker repeatedly. Even though the broker is relatively new as opposed to others in the market, it has stepped into the limelight because it has been hailed as a reliable and trustworthy broker for all. Nonetheless, you it doesn’t mean that you take the broker at its word. Every broker makes claims, but you have to verify them before you trust them with your money and your personal information. The only way to accomplish this goal is by checking their services to see if they are genuine or just another fraud.
Let’s take a close look at Coinibank:
Coinibank was established not that long ago, but even though it lacks experience, it has come up with a comprehensive set of services for facilitating all traders in the market. It specializes as a forex and CFD broker and you can use the broker’s platform for trading more than 300 instruments. The professional team behind the broker has developed an advanced and innovative trading platform and traders can enjoy excellent trading conditions, including high liquidity, when they sign up with them.
One of the most important things to know about Coinibank is that their services are not geared towards a specific category of traders. It doesn’t matter if you are new to the trading world or if you are skilled at this task, you can find an ideal combination of services with the broker. It will not take you long to discover that Coinibank has taken a customer-centric approach when delivering their trading services and to do so, they have put together a wide range of features and tools. Their team comprises of experienced traders and industry experts who have designed custom trading solutions, which has helped it gain a significant boost in its popularity.
The prominent features of Coinibank that you will discover are highlighted below:
- The broker has not taken security lightly
As discuss earlier, the trading market has become a hotspot for scammers, fraudsters and other cybercriminals who are just searching for another opportunity to con people. There are constant reports about brokers having their systems compromised through cyberattacks and traders end up losing their data and their money. Therefore, it is valid for any trader to be concerned when they have to trust a broker with their confidential information and their hard-earned funds. How can you reassure yourself? The best way to do that is to select a broker that doesn’t take your security lightly.
You will be satisfied in this regard with Coinibank as the broker has been very attentive and dedicated in developing their security infrastructure. Not only has the broker prioritized the security of your funds, but they have also taken appropriate measures for protecting the information shared with them by their clients. What are these measures? To start with, there is a Know Your Customer (KYC) policy in place, along with an Anti-Money Laundering (AML) policy. This is a prerequisite that every licensed and registered broker needs to fulfill.
The purpose of these two policies is to only allow legitimate traders to use the broker’s services and no shady individuals can create an account with them. This helps Coinibank in creating a secure trading environment for their clients. To comply with these policies, anyone who signs up with them has to provide proof of identity. This can be done by submitting a passport, driver’s license or National ID card that shows your full name. Confirming your address is also a requirement of these policies and this can also be done through proper documentation.
Traders have to provide with a bank statement, utility bill or a credit card bill that shows your name and address and is not more than three months old. Likewise, traders are required to use bank accounts in their own name for deposits and withdrawals submit pictures of debit or credit cards, if they plan to use any, on the platform. The aim of these policies is to ensure that the Coinibank platform is not used for conducting any criminal activities like money laundering.
- The broker delivers innovative and sophisticated trading solutions
How can brokerages facilitate trading? One of the most crucial aspects of any broker is their trading platform, which is a software designed to connect traders to the financial market and help them in trade execution. Thus, this platform is very important for a trader and they want to have the best possible option as it can simplify the entire process and help in avoiding any inconveniences. If you check broker reviews, you will come to know that traders usually complain about a broker’s trading platform. Some are frustrated due to the lack of trading tools while others find the user-interface slow or excessively complicated.
The biggest worry is that if the trading platform doesn’t work well, it can cause you to miss out on a number of trading opportunities that could be immensely profitable. Coinibank is familiar with the problems traders have had with plenty of brokerages due to which they have focused on delivering innovative and sophisticated trading solutions to them. You don’t have to worry about downloading or installing the broker’s trading platform as you can access it via the browser. It is a web-based platform and you just need to visit the broker’s website for accessing it.
This means that Coinibank’s trading solution will work on a desktop PC, mobile or even laptop. This allows the platform to offer a great deal of flexibility to its users. The user-interface is easy to navigate because it has been designed to be intuitive and responsive. Along with fast execution, the trading platform supports one-click trading, which allows you to enjoy the benefits of the smallest of movements in price. The platform also supports multi-asset trading and is equipped with advanced trading tools to help in trading.
It will work seamlessly as Coinibank continues to upgrade it on a regular basis, so you will not have any complaints regarding delays or lags in transactions. But, if you don’t want to use a web-based platform and prefer more mobile solutions, trading apps have also been developed by Coinibank for facilitating its clients. The apps can be downloaded on iOS and Android devices through their respective app stores. The broker has added advanced charting tools, trading alerts, different order types, graphs and custom indicators to these apps. Traders can have access to their accounts via these apps on the go and they will be immediately alerted of any changes in the market.
- The broker facilitates portfolio diversification
Anyone who ventures into the trading world does so with the primary goal of earning as much profits as possible. But, when you are new to the trading world, it is better for you to start with one instrument and expand your investment portfolio later on. There are a ton of trading options in the market and you can do some research to figure out which one is best for you to begin with. But, this doesn’t mean that you look for a broker offering that instrument alone. As aforementioned, you would want to expand later on and at that point, you don’t want to put up with the hassle of finding a different broker.
With Coinibank, you can eliminate this hassle of having to change brokers later on because here you will find a diverse and extensive range of trading platforms to invest in. Even though it is primarily known as a forex broker, but it has also added a multitude of CFDs (Contract for Difference) to its asset index. This provides its clients the perfect opportunity to diversify their portfolio as much as they want. Spreading your capital over different assets will help in controlling and minimizing the risks and maximizing your returns. Some of the asset categories that you will find at Coinibank are:
As mentioned earlier, Coinibank’s primary asset is none other than foreign currency pairs and they offer some of the greatest variety in the market. You will come across major, minor and even exotic currency pairs and can choose ones that suit your trading style. Some of the popular pairs that the broker offers include CAD/CHF, EUR/USD, GBP/USD, NZD/CAD, USD/CHF, USD/CAD, NZD/CHF, GBP/AUD, CAD/JPY, AUD/USD and EUR/AUD, amongst others.
Traders with a high risk tolerance and no issues with volatility will find the option of indices at Coinibank. There is a wide range of options that the broker provides and they include FTSE-MIB, Nikkei, FTSE, CAC, DOW, SMI, Nasdaq, VIX, ASX, US Dollar, Hang Seng and S&P.
Exchange-traded funds are another asset that you will find when you trade with Coinibank. There is plenty of variety under this category, such as iShares Russel 2000, iShares MSCI Emerging Markets, SPDR Financial, SPDR Gold, Powershares QQQ, iShares Nasdaq Biotechnology, iShares Brazil, SPDR S&P 500 and SPDR Energy.
If you are a trader who prefers consistent returns, even if they are low, then commodities are the best option for you. Coinibank has added a plethora of hard and soft commodities to their index to accommodate these traders. Some of these options that you can explore are corn, Brent crude oil, wheat, RBOB gasoline, cocoa, WTI-crude, copper, soybeans, natural gas, gold, sugar, platinum, silver, coffee and cotton.
You can also trade bonds when you sign up with Coinibank. In fact, you can find some of the top bonds from all over the globe, such as UK-Gilt, French-OAT, USA- 30Y Bond, Canada 10Y Bond, Germany- Bund, Italy- BTP and USA- 10Y Bond.
Known as one of the world’s oldest markets, stocks are known to be very profitable so Coinibank has ensured that its clients can find the biggest variety to trade via their platform. You can trade stock CFDs of some of the leading companies in the world, hailing from different industries. The company names include JP Morgan, PayPal Holdings Inc., Facebook, Sony, Apple, Wal-Mart, Pfizer, Yahoo, General Motors, IBM, Goldman Sachs Groups, Microsoft, Verizon Communications, Qualcomm Inc., Tesla Motors Inc., and Visa Inc., eBay Inc., Starbuck Corp and Twitter.
- The broker has an easy sign-up procedure
To avail a broker’s services, you have to register yourself with them. This is important if you want to open an account with them. The good thing about Coinibank is that their sign up procedure is easy to follow. There are three steps involved, which start with filling out the registration form on the broker’s website. The form asks for your first name, last name, email address and password, country of residence and your phone number. Next, you have to agree to the broker’s Terms and Conditions and give confirmation that you are 18 or above.
After this process is done, some documents will have to be submitted to Coinibank as part of the KYC verification procedure. You cannot skip this step because you will not be able to fund your account otherwise. Once these documents have been submitted and approved, your account will be activated and you can deposit your capital to start trading. But, there is one last step involved and that is to choose an account.
- The broker offers unique and diverse account options
Every broker offers account options to their clients to help them choose one that suits their risk tolerance, trading style and gives them access to important trading features. At Coinibank, you will be able to choose from six account choices. Each of these is aimed at traders of a different background and the features vary accordingly. The account options that you can consider are:
A minimum deposit of $250 is applicable for the Basic account and it includes features like an education center, account manager, a 20% welcome bonus and 24/5 customer support.
The minimum deposit to open the Standard account at Coinibank is $2,500 and this account gives users trading alerts, along with all other features of the Basic account.
This is the third account that you will find and have to deposit $5,000 to open it. Traders will be given a senior account manager with this account, along with a 30% welcome bonus. You can also attend live webinars with this account option.
Meant for experienced traders, the Gold account at Coinibank can be opened with a minimum deposit of $10,000. It boasts a welcome bonus of 40% and traders using this account don’t have to pay a withdrawal fee. They can also benefit from expert analyst sessions that are available.
Coinibank introduced this account option for skilled traders and it can be opened by depositing $25,000. This account gives access to VIP services to all its users and they can also get 50% welcome bonus as a reward.
The last account option created by Coinibank has a minimum deposit requirement of $50,000 because it is developed for professional traders. This account comes with a free saving account that helps traders in earning interest. Daily trading sessions are also given to help traders in navigating the market.
- The broker gives alternatives to earn money
Perhaps, one of the most notable features of Coinibank that has helped in distinguishing it from others in the market is that it helps clients in earning through methods other than trading. If you don’t want to trade or want to increase your income even further, you can open a Savings account with Coinibank. With this account, traders can earn an income in the form of interest, the same way you do when you deposit your money in a bank account.
The benefit you get is that the broker offers you a higher return and they also give you the option of choosing a saving account, as per your preference. You can select an account, depending on how much you are ready to deposit. The interest you receive will depend on the duration for which the deposit is made. There are a total of four account options, which are Silver, Gold, Platinum and VIP. The Silver account has the lowest deposit, starting at $5,000 while the highest deposit of $50,000 can be made in the VIP account. Likewise, the interest rates vary for six months, one year and two years, depending on the account you open with Coinibank.
Given the fact that you will find an array of funding options at Coinibank and the extensive educational and training resources that the broker offers, it is exactly what you need to take a confident step in the world of trading. Their trading conditions as well as their customer support is highly impressive and you will not have any problem in navigating the broker or its trading platform to achieve your financial goals.