What is it that you look for in an online broker? Different traders might look for different features in a broker. However, as a trader who has been associated with the online trading industry for nearly five years, I can tell you that there are certain factors you must not ignore. I don’t doubt your personal choice and preferences. However, missing out on those elements can prove to be a huge trouble for you down the line. Today, I will be reviewing a broker, called CoiniBank, for you so you can include on in your short list.
I am talking about this broker not because I am paid by them or that I will get a commission for referring you to them. The reality is, all the features that I think are necessary for an online broker to have are there in this broker. It has not focused on making its trading platform fancy or attractive. It has worked on making its trading system beneficial for traders who are signing up with it from all corners of the world all the time. I can see from its offerings that it really cares about its traders, their requirements, and preferences. So, let me review CoiniBank and help you know more about this broker.
|Customer Support||24/7 Email, Call Back|
|Account Types||Basic, Standard, Silver, Gold, Platinum, VIP|
|Welcome Bonus||Up to 50%|
|Trading Platform||Web, Mobile|
A CoiniBank Review to Know the Broker More
Trade CFDs and Forex
The first thing that you are going to notice about this broker is that it does not limit you with the number of assets that you can trade. There are hundreds of brokers on the internet that can provide you with their own unique trading platforms for trading. However, I have noticed in many cases that they are only limiting you to a particular type of asset. On the other hand, you have a broker like CoiniBank that provides you with access to a variety of market. It does not matter whether you want to stick to the conventional assets or go with ones that are new to the world, the broker will give you access to them all.
So, if you have been looking for an online platform that allows you to trade cryptocurrencies, you don’t have to look elsewhere. The broker provides you with its trading platform from where you can trade the biggest and the most reliable digital coins if you want. This way, you can become a part of the market, which is supposed to be the biggest one in the coming times. In addition to that, you can trade indices and stocks as well. There is a different between the two that you will have to understand before you start trading either.
Indices are meant to accumulate many different types of stocks in one place. Then there is this one indicator that shows you the price movement based on the cumulative performance of all those stocks. On the other hand, if you want to trade these stocks separately, you have to go with stock trading. However, when you are with CoiniBank, you will be trading these stocks in the form of CFDs. Don’t be under the impression that you will own the stock that you are trading because that’s not how CFDs work.
You can also trade commodities. When you trade commodities, you have a plenty of assets at your disposal that you can trade. First of all, if you are interested in trading agricultural produce, you will have to go with commodity trading. You can trade cocoa, coffee beans, wheat, orange juice, and much more when you trade soft commodities. However, that’s not what you are limited with. If you want you can also trade precious metals in this same category. So, if you are interested in trading silver, gold, platinum and other precious metals, you will find them all in commodities.
Last but not least, you can trade forex currency pairs with this broker. Again, you will see that the broker has kept the horizons wide open for you no matter which financial market you step in. When you trade forex currency pairs, you can trade more than the traditional big currency pairs. If you are interested in currency pairs from around the world, I recommend that you try your trading skills in trading exotic and minor currency pairs. Government bonds from a variety of countries are also there for you to trade with this broker.
It might come as a surprise but the broker is also providing you with ETF trading. ETFs allow you to trade many different assets in the bucket form. If you are interested in that type of trading, you will not have to go beyond CoiniBank.
The Trading Platform
The trading platform from this broker is one of the easiest yet the most powerful that you will ever use. I have used this trading platform and I can tell you that it is very user friendly. You will not have to spend a week only learning the trading platform and its features. It will be on your fingertips within the first few minutes of use. In addition to that, I like that fact that the broker has made its trading platform available to you on all your favorite devices. So, if you are thinking about trading on your desktop computer, you can go with the web trader version of the software.
With this version, you can use the trading platform on any device that you like. The main reason why the broker has created this version is that people using different operating systems will not have a problem using it. So, first of all, you will not have to download the trading platform at all. You can use the trading platform just like you use any other website. You just have to access your browser, open the website of the broker, and the trading platform will be there on your screen for you to use. It is as easy as that. It does not matter which device you are on because the web-based trading platform will run as smoothly on your mobile device as it does on the desktop computer.
Now, if you think that a mobile application is better for using on a mobile device because of its speed, I am happy to tell you that the broker has made arrangements for that as well. The broker has provided you with the trading platform in the form of a mobile application as well. Of course, you will have to download the trading platform on your device first and then use it. The best thing is that the broker has not done any half-hearted things. It has provided you with the mobile application of the trading platform not only on your Android phones but iPhones as well.
KYC and AML
The broker has made sure that you trade on a trading platform where you feel safe. For this reason, the broker has proper AML and KYC policies implemented on its traders before they join the trading platform. If you look at the effects of these policies, they are meant to make the trading platform safe and protected for you. For example, when you sign up with the broker, the broker is going to ask you for a lot of personal information. You might not like that idea at first but that’s how the broker can save you from the identity thieves. If someone tries to use your information to sign up with the broker when you have already signed up, the broker will not allow them to do so.
So, when you sign up, you have to prepare yourself to provide some information. This personal information will include but is not limited to your ID card number, which will be the identification card that your government has issued to you. In addition to that, you will also have to provide the pictures of your identity card. You will be submitting the pictures of utility bills to the broker to prove that you reside in the same address that you are providing on the website. This is how the broker will ensure that you are the person who you are telling you are.
All of this information has to be provided to the broker under the KYC policy. In addition to that, the broker will also ask you to submit the picture of your debit card. When you submit the picture of your debit card along with its number, it proves that you are reading information from a card that you own and possess. If you don’t have the card with you, you will not be able to provide the picture. That’s actually a great step to prevent money launderers and information stealers from signing up on the trading platform. They can provide your stolen information on the website but when they are asked to submit the pictures of the card, they have to back down.
So, you should be glad that the broker has these policies in place to protect you and your information. Now, I have to tell you here that you should not sign up with a broker that does not ask such information from you. That’s a huge blunder that you will make if you sign up with that broker.
Segregated Funds and Information Protection
Is the broker doing anything to protect your information? Of course, the broker has asked you to submit your personal information while complying with the KYC and AML policies, but it has to play its part in protecting all of that information as well. If there is a broker asking for your personal information without having any measures to protect it, I recommend you stay away from it. You should only sign up with online brokers that have some method to protect the information that you are providing. You can know from the earlier information that you will be providing some really sensitive information to the broker.
So, the most important thing that the broker has to do to protect your information is to have encryption in place. Encryption ensures that every piece of data that you enter on the website gets converted into a code that cannot be broken by anyone. The snoopers and hackers on the internet cannot do anything with your information once it has been encrypted. On the other hand, if the broker has not encrypted your information, even someone with basic hacking skills can take away your information with ease. So, you have to make sure that your broker is taking care of these things for you.
In the case of CoiniBank, I am glad that this broker has the latest and the most upgraded protocols in place to protect your information through encryption. I have to tell you here that there are different standards of encryption. You also have to ensure that the broker is using the latest encryption methods and protocols to protect your information. Any use of old methods will leave your information naked and exposed again.
When it comes to the money that you deposit in your account, you have to know that it is the job of your broker to protect that money. It has to at least have measures in place that ensure that your money is being kept according to the industry standards. Again, I am telling you about this broker because it takes care of those things. The broker will put your money in segregated accounts to protect it.
Do you know that a broker can prevent you from signing up with it in the first place with the minimum deposit? When you sign up with online brokers, you have to ensure that you meet the initial criteria that they have set for opening accounts with them. While other things are not that difficult or complicated, you have the barrier of the initial deposit there. You have to deposit some money in your account before you can start trading. This amount can be small or big, depending on how much your broker cares about your preferences and requirements.
Again, I am glad that I am talking about CoiniBank here, which is a broker that makes things easy for its traders. So, if you look at the basic account from this broker, you just have to deposit $250 in your account to start it. If you have been stopping yourself from trading only because you never had enough money to deposit in your account, that time should be over for you. If you only have $250 to spare for trading, the broker has opened the doors for you.
The Trading Accounts
This is where I have found this broker to be the best among all. There are many other brokers that care about their traders and provide them with a huge choice when it comes to picking the trading account. However, I have not seen any other broker segregate the trading accounts into current and savings account. Yes, you read that right. This broker has given you the option to open a saving account with it as well. Not to mention, there are some variations in these accounts. It is not that the broker has given you just one saving account option and that you have to stick to that.
With the savings account, you can get some profit on your account and the amount of money that’s there. You have to decide which account you want to go for based on the term. You have to choose from Silver, Gold, Platinum and VIP accounts. The minimum deposit for your savings account has to be $5000. With that amount, you will have a savings account with the broker that will return profits based on the number of months you maintain that amount of money in the account. You can get better profits if you deposit more money in the account. For example, if you go with the VIP account, you will have to deposit $50,000 and after 24 months, you will have 3% profit on your account.
In addition to that, you have the regular trading accounts as well. Yes, these trading accounts are there to help you trade in the financial market of your choice. The best thing is that the broker has provided you with six of these. You can choose the one that fits your budget and meets your trading needs. You have the basic account that you can open with just $250. You will still receive customer support from the broker 24/5 with this account. If you want more benefits and perks, you can go with the standard account. You can open this account with a small sum of just $2500. You will have an account manager and trading alerts included in the features of this account.
You can make things even better if you go with the Silver account. With this account, you will have access to webinars as well. VIP account is the biggest account you can have with CoiniBank, and you will have to deposit $50,000 in this account to start it. You will have the best of everything when you go with this account. The best thing is that you will never have to worry about paying any fees on your withdrawals when you have this account with the broker.
The Welcome Bonus
I sometimes feel that online brokers have become quite boring. I don’t see most of the brokers offering anything in the form of bonus to their traders. Even if they are offering a bonus, they don’t talk about it openly so the traders never know about it. On the other hand, you have a broker like CoiniBank that provides you with some huge bonuses and the information about the bonuses is right there on the website. The broker has not tried to hide this information from you. If you land on the “Account Types” page of the broker’s website, you will find information about all the bonuses that you are getting with each account.
The best thing is that the broker has not shown any thriftiness when offering the welcome bonus. Even with the basic account that you can open with only $250, you are getting a welcome bonus of 20%. You can increase the size of the bonus that you are getting from the broker by going with bigger accounts. If you go with the silver account, you will have a welcome bonus of 30%. You can take things up a notch by going with the other expensive accounts. The biggest bonus that you can get from CoiniBank is of 50%. In other words, you can sign up with any account and the bonus will be there.
The Customer Support
When I signed up with the broker, I had not seen any information about its customer support. It was shock for me when I signed up with the broker and realized that there was not a number that I could call to get help. That was a huge disappointment, and I actually thought of relinquishing my account with the broker for a moment. But then I realized that the broker had something that I had not received from any other online broker i.e. the call back option.
Yes, right on the top of the website, you can find the call back option from the broker. You just have to provide your name and your phone number. The broker will call you back to help you with your concern. In addition to that, you have an email address as well for getting help. You have the customer support department of the broker available to help you 24/5.
I think this broker is on another level when it comes to easing its traders. It provides them with great leverages of 1:200 on their trades and lets them enter a variety of financial markets without any hesitation. Its trading platform is available in the web form as well as in the form of a mobile application. So, when you trade with this broker, you feel free, safe, and protected.