COINIBANK

Note: The details presented in this review are subject to potential modifications due to the ongoing updates to the company's offerings and policy adjustments. Additionally, the relevance of this review's information may be influenced by the original publication date, as service details and policies may have evolved since that time. Hence, it's crucial for readers to seek out the most current information directly from the company prior to making any decisions or initiating actions based on this review. The responsibility for utilizing the information provided herein lies entirely with the individual reader.

Should there be any discrepancies between visual and written materials in this review, the written information takes precedence. Nonetheless, for a more comprehensive understanding and updated details, accessing the company's official website is highly recommended.

What is COINIBANK？

COINIBANK is a broker based in China. It puts a business focus on forex and CFDs. It currently holds no regulations.

Pros & Cons

Pros:

• Mobile App Available: Having a mobile app allows traders to manage their investments and trade on the go, which is a significant advantage in today's mobile-centric world.

Cons:

• No Regulation: Trading with a non-regulated platform significantly increases the risk of fraud and may offer little to no protection to traders in the event of disputes or the broker's insolvency.

• Website Subpages Inaccessible: The subpages on COINIBANK's official website cannot be opened. Users cannot get the information they want, and non-functional subpages also raise questions about COINIBANK's website maintenance.

• High Minimum Deposit: A high minimum deposit of $5,000 can be a barrier to entry for small or inexperienced traders who do not wish to risk such an amount initially.

Is COINIBANK Legit？

• Regulatory Sight: COINIBANK is currently functioning without any regulation, meaning it does not fall under the supervision of any financial regulatory bodies and does not possess any licenses to operate in the financial market. The absence of any such oversight raises concerns about the firms adherence to financial standards and regulations, increasing the risk for investors.

• User Feedback: Users should check the reviews and feedback from other clients to gain a more comprehensive sight of the broker, or look for reviews on reputable websites and forums.

• Security Measures:

1. Stop Loss Orders: A stop loss order is an order placed with a broker to buy or sell once the stock reaches a certain price, which can limit an investor's loss on a security position.

2. Negative Balance Protection: This guarantees that clients cannot lose more money than they deposited, meaning they cannot end up with a negative balance in their trading account. This is particularly important in highly leveraged trading, so traders do not owe the broker money.

Market Instruments

COINIBANK offers a certain range of market instruments. These include:

1. Forex: Forex trading involves the exchange of one currency for another, and it is the largest and most liquid market in the world.

2. CFDs (Contract for Differences): These derivatives allow traders to speculate on the rising or falling prices of fast-moving global financial markets or other instruments.

3. Cryptocurrencies: Traders can engage in the dynamic and rapidly evolving crypto market, trading in various digital currencies.

4. Stocks: These are shares in the ownership of a company and represent a claim on part of the companys assets and earnings. Stocks are traded on stock exchanges and are a popular choice for many investors.

5. Indices: Traders can access a selection of global stock market indices, so users can speculate on the performance of broader market segments and diversify their investment portfolios.

Trading Platforms

COINIBANK provides its own web trader and a mobile app. A web-based trading platform allows users to trade directly through their web browsers without the need to download any software. This makes it accessible from any device with internet access. What's more, a mobile app allows traders to manage their accounts and trade on the go. The app of COINIBANK can be downloaded from Google Play and Apple Store.

Customer Support

COINIBANK provides its customer service 24/5 mainly through email at support@coinibank.co. It does not provide immediate support channels such as live chat or phone calls. Support via email only is very limited for a broker's customer support, since users are not able to get instant assistance in an emergency.

Conclusion

As a broker, COINIBANK charges a high minimum deposit. It holds no regulations and its official website is partly not working. We do not recommend users to trade with this broker.

Frequently Asked Questions (FAQs)

Question: Is COINIBANK regulated？

Answer: No, it is not regulated.

Question: What is the minimum deposit required？

Answer: The minimum deposit amount required to open an account is $5,000.

Question: Does it support MT4/5？

Answer: No, it supports neither.

Question: Does it have an app？

Answer: Yes. The app of COINIBANK can be downloaded from Google Play or Apple Store.

Risk Warning

Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies.