In the last few years, the trading markets have proven to be quite lucrative due to which they have attracted a lot of attention from people all over the globe. There are thousands of assets that can be traded by people and the best thing about it is that even with a small investment, it is possible to generate big returns. As a matter of fact, there are a lot of traders out there whose stories have become quite well-known as they started with only a small sum and used it to earn millions. Who doesn’t want to change their fortunes like that?
Secondly, another reason the trading market’s appeal has increased is because it doesn’t have any prerequisites that need to be fulfilled before you can participate in it. Traders are only required to be above the age of 18 and have some capital to invest and they are good to go. Success in the trading world depends on your knowledge of the market, your trading strategy and skills. But, these are not all the factors that will determine your success. Your choice of broker is also relevant because they will provide you with the trading software, tools and other resources that are needed for trading in the financial markets.
With the rising popularity of online trading, the number of brokers in the market has exploded and you can easily find hundreds of brokers who are more than willing to cater to your trading needs. So, what is the problem? The problem is that all these brokers make big claims, but there are only a handful of them who are actually able to live up to them. To add to the problem, the trading market has become rampant with scams and cybercriminals are constantly trying to exploit traders as much as possible.
Some of them either hack these brokerages to gain access to client funds and personal information or they set up completely scam brokerages. There has been a drastic surge in the number of such scams and they have gotten quite sophisticated over time, which makes it difficult to identify them. This is particularly true in the case of novice traders who don’t have any knowledge of the market and don’t know how to distinguish between a good broker and a shady or scam one. Therefore, it is not surprising that people wonder this about Coinibank.
This forex and CFD broker has not been around the market for very long, but has gained a lot of attention due to its services. A lot of traders will come across the name of Coinibank when they start their search for a trustworthy and reliable broker. But, you will obviously wonder if it does live up to its claims or is just another fraud. The only way to determine what kind of broker it may be is to take a close look at the services it is providing. You will be able to figure out if the broker is only stringing you along or is providing genuine services in the market.
An Introduction to Coinibank
As stated above, Coinibank is a relatively new brokerage, but what it lacks in experience, it has made up for it by providing some of the most comprehensive trading services in the market. Specializing as a forex and CFD broker, it provides its clients access to more than 300 trading instruments in once place. It has developed an advanced trading platform and offers high liquidity and excellent trading conditions to facilitate the trading process. The best thing about Coinibank is that it has not restricted its services to a specific set of traders.
Whether you are completely new in the market or are a skilled trader, you will find custom trading solutions that ensure a smooth trading experience. A quick study of its features reveal that Coinibank is a customer-centric brokerage that aims to satisfy its clients by providing them access to the best services and features in the market. In order to accomplish this goal, they have put in significant time and effort and have used industry experts and experienced traders to come up with trading solutions for everyone. This has allowed Coinibank to hit the mark and has boosted its popularity. What are some of its impressive features? Let’s take a look below:
As discussed above, the trading market has become a romping ground of hackers, frauds, scammers and a variety of other cybercriminals. Every other day, you will come across news reports of brokerages having their funds stolen or their systems are compromised, which results in a loss of sensitive information. This has made traders extremely apprehensive when it comes to trusting brokers because they do not want their hard-earned money to be lost or their identities to be stolen and used for nefarious purposes. The only way to prevent it is to choose a brokerage that prioritizes security of its traders.
This is exactly what Coinibank has done when it comes to designing its security infrastructure. The broker not only ensures safety of funds, but has also taken steps for protecting the data entrusted to them by their clients. First and foremost, it is fully compliant with the Know Your Customer (KYC) and Anti-Money Laundering (AML) policies, which is a requirement for all registered and licensed brokers. These policies are aimed at creating a secure trading environment because they require everyone who signs up with the broker to submit proper documentation.
Traders have to submit driver’s license, passport or National ID card for giving proof of identity. They can submit utility bill, bank statement or credit card bill showing name and address and not more than three months old for proof of residence. These are the requirements of the KYC policy. As for AML, traders are only permitted to use accounts or payment solutions in their own name and have to use one method for withdrawals and deposits. You cannot use different methods for each.
This helps in preventing financial crimes like money laundering being conducted via Coinibank. Since it takes such sensitive documents from clients, the broker uses topnotch encryption for protecting all data. They have a strong privacy policy under which no information is shared with outsiders or third parties. They do not rent, share or sell any information and keep it under wraps for protecting their clients’ privacy. Safety of funds is ensured through proper account segregation, which reduces the possibility of misappropriation. When you put all these together, it is evident that Coinibank provides a secure and safe trading environment to their clients.
How do you trade through a broker? One of the fundamental features that a brokerage offers is their trading platform, a software that connects traders to the financial markets and allows them to execute their trades. Hence, it plays a very important role in a trader’s journey and they want to use the best possible trading platform because any issues with this software can result in a big hassle and a lot of inconvenience. You can easily find stories of other traders who discussed the problems they had to put up with when using various trading platforms. Some of them didn’t have proper trading tools, the user-interface was too complicated or the software was too slow.
These issues can cause a lot of problem for traders and they may even miss out on some profitable trading opportunities. Coinibank has ensured that its clients will not have to put up with these issues and have developed a well-equipped and innovative trading platform for their use. Their trading platform does not require any download or installation because it can be directly accessed from their website. You can open the website in the browser of any device, whether it is PC, laptop or mobile, log into your account and start trading.
This no-muss no-fuss solution is appealing to traders as it provides them a lot of flexibility. The highly intuitive user-interface means it is easy to navigate and you can execute trades very quickly. One-click trading ensures that you can take advantage of all price movements and trade multiple assets easily, all through a single dashboard. The platform works smoothly and doesn’t cause any lags or delays in your transactions. While it is compatible with mobile devices as well, Coinibank has still introduced mobile apps of its trading platform for the convenience of its clients.
Apps are available for Android and iOS devices and can be downloaded easily. They are also equipped with a number of trading tools, including charting tools, custom indicators, trading alerts, graphs and a variety of order types, just like the browser-based trading platform. The app allows traders to quickly access their accounts on the go and they can be alerted instantly of even the slightest movements in the market, allowing them to open and close trades quickly for maximizing their returns.
People decide to enter the trading world to earn high profits and it is best for beginners to start with one instrument and expand their portfolio gradually once they get some experience. You can do research into the various assets and decide which one you want to begin with and then choose a broker accordingly. However, it is better to choose a broker that can offer you a wide array of instruments because switching brokers later on can be a big hassle. Coinibank is definitely an excellent choice in this regard because the broker offers you access to an extensive and diverse range of trading instruments for trading.
It is recognized as a forex broker, but it offers plenty of other CFDs to assist its clients in diversifying their portfolio. This can allow them to reduce their risks as much as possible and earn a high return on investment. Some of the top assets that can be traded on Coinibank are:
Forex: The primary offering at Coinibank is none other than foreign currencies and the broker is renowned for its huge range of currency pairs. Whether you want to trade major pairs, minor ones and even some exotic ones, you will get your fill with the broker. EUR/AUD, AUD/USD, CAD/JPY, GBP/AUD, NZD/CHF, USD/CAD, USD/CHF, NZD/CAD, GBP/USD, EUR/USD and CAD/CHF are just some of the offerings you will find here.
Bonds: Another instrument that you can trade with Coinibank are bonds and the broker offers some of the top bonds around the world, such as USA- 30Y Bond, USA- 10Y Note, Germany- Bund, UK- Gilt, Italy- BTP, French- OAT and Canada 10Y Bond.
Indices: If you don’t mind a bit of volatility and have a high risk tolerance, Coinibank is offering a wide range of indices to its clients. You can choose from CAC, DAX, ASX, FTSE, SMI, Hang Seng, Nikkei, DOW, Nasdaq, US Dollar, S&P, VIX and FTSE-MIB, amongst others.
Commodities: For traders who prefer consistent returns and low volatility, a range of commodities are offered by Coinibank to facilitate them. You can trade Brent Crude oil, coffee, cocoa, gold, copper, natural gas, RBOB gasoline, platinum, sugar, cotton, corn, silver, WTI- Crude, Wheat and Soybeans.
ETF: Coinibank has also added exchange-traded funds to its asset index to provide as many instruments to their traders as possible. SPDR Gold, SPDR Energy, SPDR Financial, SPDR S&P 500, iShares Nasdaq Biotechnology, iShares MSCI Emerging Markets, iShares Brazil, iShares Russell 2000 and Powershares QQQ are just some of the options you will find.
Stocks: One of the oldest trading markets in the world, Coinibank provides its clients the opportunity of making their foray in the stock market as well. They are offering CFDs on stocks of some of the top companies in their respective industries. There is an endless list of options at your disposal, which includes Yahoo, Wal-Mart, Visa Inc., Verizon Communications, Twitter, Tesla Motors Inc., Sony, Starbuck Corp., Qualcomm Inc., Pfizer, PayPal Holdings Inc., Microsoft, JP Morgan, IBM, Goldman Sachs Group, General Motors, Facebook, eBay Inc. and Apple.
You will have to register yourself with a brokerage in order to use their services. If you don’t register, you will be unable to open an account to start trading. Coinibank has an easy-to-follow sign up procedure that involves three steps. First, you have to fill out the form provided on the website, which requires some very basic information. Enter your first name, last name, email address, password, phone number and your country of residence. Agree to the terms and conditions and confirm you are above 18 years of age.
Next, you have to provide the required verification documents that were mentioned earlier. This step is essential in order to fund your account and will also be required for you to be able to withdraw your profits later on. After you have submitted the documents and they are accepted, you can fund your account to start trading. This is the last step, but in order to get to it, you will have to choose an account option. What are the choices? Find out in the next step.
A great feature of Coinibank is that the broker has provided six comprehensive and convenient trading plans for accommodating traders coming from different backgrounds and skill levels. The broker understands that no two traders are the same and they will have different risk tolerances and expectations from trading. Hence, they have come up with these trading plans or account types to assist them.
Basic Account: This has a minimum deposit of $250 and provides traders with an account manager, education center, 24/5 customer support and a welcome bonus of 20%.
Standard Account: A $2,500 minimum deposit has been set for this account and it provides all features of the previous basic account, with the addition of trading alerts.
Silver Account: Coinibank’s third account option asks for a deposit of at least $5,000, if you wish to open it. A welcome bonus of 30% is provided and a senior account manager is added for assistance. Traders are also free to attend live webinars if they wish.
Gold Account: Traders are required to deposit a minimum of $10,000 to open this account where they will be given a welcome bonus of 40%. This account doesn’t involve any withdrawal fee and the traders can also benefit from expert analyst trading sessions.
Platinum Account: Designed for skilled traders by Coinibank, this account can be opened if you are willing to deposit at least $25,000. The welcome bonus is now at 50% and the account can provide VIP services to the traders.
VIP Account: To cater to professional traders, this account option was introduced by Coinibank and the minimum deposit has been set at $50,000. Features of all other accounts are available under this one, with the addition of a free saving account on which interest can be earned as well as daily personal trading sessions for the guidance of the trader.
You have taken a look at the account options that Coinibank is offering to its clients and have made up your mind to fulfill the minimum deposit requirement and open an account. The question is how can you add the funds? Not every broker supports the same payment solutions so you have to check which ones are available to you. As aforementioned, Coinibank is committed to providing its traders with a seamless trading experience and in order to do so, it has incorporated numerous payment solutions. This allows clients to opt for one that seems convenient to them and offers them the best advantages.
Traders are free to use their debit and credit cards, both Visa and MasterCard for their deposits and withdrawals. They can also choose bank wire transfer if they want added security. Modern solutions like e-wallets are also added by the broker to provide flexibility to their clients. Coinibank doesn’t impose any fee with deposits, which is definitely a bonus. The charges for withdrawal depend on the method traders are using, but those who have a Gold, Platinum or VIP account don’t have to pay any withdrawal fee. There is a minimum withdrawal amount of $50 for every transaction.
As per the rules of the AML policy, traders can only deposit and withdraw funds from accounts in their own name. No third-party accounts will be accepted. In addition, they are required to use one method for both adding and withdrawing funds.
When you are using a broker’s services, there is a possibility that you might encounter some issues or have trouble with a procedure. In such situations, you would require assistance of someone familiar with the platform. This is where customer service can play a critical role, but the problem is that most brokers don’t pay much attention to it, which can affect a trader’s experience negatively. Coinibank has not done any such thing because it understands how important it is to satisfy its clients.
Therefore, you will find responsive and prompt customer service at Coinibank. You can reach out to their agents through phone or email. In addition, the broker has created a complete FAQ section where it has provided answers to common questions for speeding up the assistance process.
Final Thoughts
Along with the features mentioned above, Coinibank provides its clients with another way to earn money i.e. through savings account. They offer four type of savings accounts, which are Silver, Gold, Platinum and VIP. Each of them offer a different interest rate and have a different minimum deposit and you can choose one that seems convenient to you. The broker has also added a ton of educational resources for its clients and gives them access to the latest financial news to help them make quick decisions. Risk management tools and various order types are available, as well as leverage of 200:1, making Coinibank a great choice to earn substantial returns in the trading market.
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