Online trading is not exactly a new concept. It has been around for more than a few years now and you have probably come across stories of people who were able to make huge fortunes from this market. Even though it is a lot more convenient than traditional trading, people hadn’t given it much thought up until now. The hype surrounding cryptocurrencies has fueled interest in the trading market and millions of people all over the globe are trying their luck here. This massive influx of traders in the market means that there is an increasing demand for online brokers as well.
After all, online brokers are the key to the world of trading as they unlock the opportunities and markets for you. There were already numerous brokers in the market and this increase in demand has brought on more. While this certainly has its benefits because people have many options to check out and can find a competitive broker, it also creates a great deal of confusion. Many traders sign up with a broker, only to find out later that they are not a good fit for them. Therefore, a lot of people often get overwhelmed because they don’t know what to be looking for.
You will experience the same when you come across Coinibank. This is also one of the brokers in the market, which offers forex and CFD trading services to people. Even though it hasn’t been around for that long, Coinibank has been created by a bunch of seasoned traders who understand what is needed. But, the question is whether you should choose this broker or not. How can you make this vital decision? The best way to get it done is by closely assessing the broker. Let’s take a look:
- Coinibank’s asset offerings
The best place to start for assessing a broker is their asset offerings. After all, the whole point of trading is to buy and sell trading instruments and you want to ensure that you choose a broker that gives you the freedom to do that. Do you have any specific asset in mind or do you just want variety? At Coinibank, you will find more than 300 tradeable assets available and all of these belong to different financial markets.
Forex currency pairs, such as AUD/CAD, EUR/USD, GBP/USD, NZD/USD and CHF/JPY are available, as are indices like DOW JONES, NASDAQ, FTSE 100 and more. You can try commodities like gold, silver, wheat, corn and coffee or you can trade stocks of Amazon, Apple, AT&T, Fiat, Microsoft and more. Cryptocurrencies like Bitcoin and Ethereum are also available as are bonds and ETFs.
- Coinibank’s trading platforms
The real reason brokers exist in online trading is because they provide you with a trading platform for your trading needs. This platform is used for trade execution, market monitoring and managing your trades and can affect your trading experience. Hence, knowing what platforms can be used is undoubtedly necessary. Coinibank has developed their own proprietary trading platform, one that is web-based. This means it doesn’t need to be downloaded and can be accessed through the broker’s website.
It has a user-friendly interface, which makes it easy to master and offers quick execution, so your transactions are made immediately. It boasts numerous trading tools like signals and indicators, along with a variety of trade orders. Most importantly, Coinibank has added mobile trading apps for iOS and Android to let their clients enjoy flexibility in trading and control their accounts on the move. You can trade anywhere and anytime, taking advantage of the smallest of opportunities.
- Coinibank’s account options
To use any broker’s services, you have to open an account with them and every broker will give you several options to explore. Since Coinibank caters to all traders, regardless of their experience, they have come up with multiple choices as well. There are six options in total, which are Basic, Standard, Silver, Gold, Platinum and VIP account. The minimum deposit begins with $250 for the first account and is $50,000 for the VIP account. A welcome bonus is offered in each account, but the percentage varies.
There are some features like customer support, education center and account manager that you will find in every account. But, some of them like account manager, expert analyst trading sessions, trading alerts and no withdrawal fee are kept only for certain accounts. Coinibank lets you select the account that is in accordance with your trading style to provide you with a comfortable trading experience.
- Coinibank’s verification process
Every reliable broker will have a verification process in place for the security of their clients. This also applies to Coinibank. In order to prevent anyone from misusing their platform, the broker has incorporated the KYC and AML security policies. These are known as Know Your Customer and Anti-Money Laundering and their aim is to prevent financial crimes, identity theft, money laundering and terrorist activity.
To comply with these policies, traders have to provide some identification documents. They have to prove their identity by submitting a form of government-issued ID, such as national ID card, driver’s license or passport. They also need to provide a utility bill or a bank statement showing name and address. If planning to use a debit or credit card, a scanned copy of the card in question also needs to be shared with Coinibank. These documents will be verified by the broker and then you will be able to use their platform for conducting trades.
Coinibank has also added other security measures like encryption and safety of funds for giving their clients peace of mind. They have put together some educational resources for their clients as well, which can help them learn the ins and outs of the market. Furthermore, Coinibank provides strong support options to their customers, along with an FAQ option that can be used for finding answers to numerous problems. This all shows that you can use this broker for your trading journey and grow your portfolio.