With each passing day, a growing number of people become a part of the trading world. In recent year, the trading market has seen an influx of traders and this doesn’t come as a surprise at all. After all, which other industry gives people the opportunity to earn millions of dollars on a small investment? Moreover, there is no shortage of opportunities because there are literally thousands of financial instruments that can be traded for a profit. Even people who have absolutely zero knowledge or experience can enter these markets and try their luck or even opt for it as a full-time career.
Hence, the fact that there are no barriers to entry has undoubtedly help people in entering the trading world and the ability of being able to do so without leaving your homes is the cherry on top. If you have been looking for investment vehicles that can give you a high ROI, the trading markets are the perfect choice for you. Once you make up your mind, your focus will shift to getting started. The first thing to figure out is how to get started? While other traditional prerequisites may not exist, there is one thing you do need to start trading; a broker.
Over the years, much has changed in the trading world, but the need for brokers has remained constant. Even today, traders need a broker for facilitating their trading activities and this decision is not one that you can make without putting any thought into it. When you are trading, you will entrust a broker with your funds and your personal information. Would you trust just anyone with both these things? No, you obviously wouldn’t want to take that big of a risk and so, you should do your homework when you are considering a broker to help you get started with trading.
What is the basic requirement to follow in this regard? You need a legitimate, professional and reliable broker that can address your trading needs efficiently and without charging you excessively. One of the brokers you will come across in the market is called CoinePro and it is your job to determine if they fit the criteria stated earlier. It is easy for anyone to make claims, but not many will be able to live up to then. The only way to find out how CoinePro fares is by learning some important things about the broker.
CoinePro – An Introduction
An Overview of CoinePro
|Trading Accounts||Micro Account, Standard Account and Premium Account|
|Assets Coverage||Forex, Stock Indices, Metals, Shares, Commodities and Cryptocurrency CFDs|
|Trading Tools||Currency Converter, Economic Calendar, Forex Converter, Risk Management Tools, Trader’s Guide and Rating of Central Banks|
|Education and Training||Yes|
|Customer Support||24 hours a day, five days a week|
|Security Policy||Anti-Money Laundering (AML) and Know Your Customer (KYC) policy|
Developed by experienced and professional traders, CoinePro is a broker that has been designed for serving the best interests of its customers. It has taken a customer-focused approach when it comes to delivering its services and their goal is to be as reliable, convenient and efficient as possible. In order to accomplish this, they have developed dynamic trading platforms and have also made an attempt to keep up with technological advancements at every step. They have also made an effort to add educational resources for their clients and have incorporated support features for their satisfaction.
Also Read: Why Cryptos Still Have a Future in Retail
Likewise, CoinePro has also worked on their security environment because they understand the concerns and priorities of their clients. They have chosen to provide forex trading services, along with a variety of other CFDs on different financial instruments. As far as their target market is concerned, CoinePro has developed its services for every trader in the market, regardless of their background or their trading experience. But, the important question is whether they are able to live up to these promises and claims or not?
The key to finding the answer lies in their numerous features and offerings. You should carefully go over what services they are providing and then make up your mind. Some of the important things that you need to know about CoinePro are:
What Instruments can be Traded?
The most important thing you need to know about any broker is their asset index. What instruments can you trade with them? This question is important for several reasons. First and foremost, if there is a particular instrument you wish to trade, you need to ensure it is available before signing up or else it will just be a waste of time. Secondly, it is also essential for traders who plan on portfolio diversification. After all, diversifying your portfolio can reduce your risks and help you maximize returns.
When it comes to CoinePro you will be pleased to know that there are different types of instruments available. As a matter of fact, this broker offers its clients almost 1,235 instruments that are spread over different asset categories. Some of the options that you can explore are:
- Forex currency pairs
At CoinePro, traders have the chance to trade in one of the biggest financial markets in the world. The forex market is a huge one and it includes a wide array of currency pairs with varying levels of volatility. Whether you are interested in major currency pairs or minor ones, this broker has made all of them available. In fact, you can find even some rare currency options here. You can try out the popular EUR/USD pair or the USD/CHF one. There are plenty of options to choose from and the broker has also provided specific tools that help in currency trading.
If you have been part of the trading world for any length of time or have been keeping up with the news in this market, then you have certainly heard of cryptocurrencies. They are one of the most recent and extremely popular trading instruments that have had a big impact on the market. They are known to have a lot of potential and so, many traders are interested in adding cryptocurrency to their trading portfolio. Therefore, CoinePro has added some of the leading ones to their offerings to ensure their clients can also get a piece of the pie. You can trade Bitcoin, Ethereum, Litecoin, Bitcoin Cash and Ripple, amongst other options.
Another instrument that you can trade through CoinePro is shares, which lets you try your luck in the stock market. If you go over the choices, you will discover that the broker has put together shares of some of the biggest and most profitable companies in the world, ensuring that you will be able to make solid returns while trading them. In addition, the broker has also incorporated stock trading tools for traders to help them make profitable moves.
- Stock indices
If you don’t feel like trading the shares of individual companies, you can trade them in the form of a basket when you opt for stock indices. These are very lucrative and have a higher volatility, which means they can be quite profitable. At CoinePro, you will be able to trade the top indices in various markets like German, USA and European markets.
For traders who are risk averse or don’t want to take too much risk, commodities are the perfect choice. These are known to provide consistent, if not massive, returns and are relatively safer. When you go with CoinePro, the broker will give you the option of trading soft commodities or going with hard commodities, depending on your preference. Soft commodities typically refers to agricultural products, such as sugar, coffee, corn, wheat and more. When it comes to hard commodities, you can experiment with precious metals like gold and silver, diamonds or even try energies like natural gas or oil.
What Trading Platforms Can be Used?
Another important aspect of a brokerage is the trading platform they provide. Trading platforms are software that are used for executing trades, monitoring the market and keeping track of trading activity. They are also equipped with tools that can make trading simple and easy. Every broker offers a trading platform, but not all of them are created equal. Some platforms have various issues, such as slow execution, security loopholes or lack of tools that can have a negative impact on your experience. Hence, you should ensure that the broker you are considering is capable of providing you with a platform you can use comfortably.
How does CoinePro fare in that regard? The broker has added several platforms to their offerings because their goal is to deliver a seamless trading experience to their clients. The trading platforms that you will find at CoinePro are:
One of the first choices that you will come across when you check out CoinePro’s trading platform is Optima. It has a user-friendly and intuitive user interface and has been developed with the use of cutting edge technology. Despite such advanced measures, it is straightforward and can be easily used by beginner and experienced traders alike. You can find different charting tools and view live market data for making your decisions. Optima also offers fast execution, allowing traders to execute their trades quickly for locking in their profits. The platform can be downloaded on your desktop within minutes and there are no complicated steps involved.
If you don’t feel like downloading a trading platform, CoinePro has given you the WebTrader option to try. This particular platform is accessible via the web browser, allowing you to use it on any device of your choice. It is easy to navigate and is personalized for every trader to help them in managing their trading accounts without any issues. You can easily check your open and closed positions, monitor your balance and take advantage of superior trade execution.
- Mobile Apps
Mobile solutions have become the need of the hour because traders these days don’t like being tied down. They want as much flexibility as possible and while WebTrader is flexible, it is not the same as mobile apps. Keeping that in mind, CoinePro has added mobile apps to their platform offerings, which include both for Android and iOS powered devices. You can download them on your iPhone or iPad or your Android smartphone and tablet. The apps also deliver excellent performance, allowing clients to trade at any time or anywhere and rake in as much profits as possible with timely trading.
What Account Choices are Available?
To use a broker’s services, you will obviously have to open an account with them. It is necessary to first fill out a registration form and then open an account of your choice from the options provided by the broker. Traders are given individual accounts to ensure their funds remain safe and they can manage their trades without any hassle. The registration process at CoinePro is quite simple and doesn’t involve any detailed paperwork. It is a simple form on the broker’s website, asking for vital information like your name, phone number, country of residence, email address and password.
When you have registered with CoinePro, you will need to take a look at the account choices in order to select one. Every broker has the freedom to develop their own options and this one has done the same. You will have three choices from which to select and these are:
- Micro Account
The first account that you will find on CoinePro is called the Micro account, which has primarily been created for newbies and beginner traders. To open this account with CoinePro, traders are asked for a deposit of $250, which is deliberately kept minimal to make it easy for everyone to start trading. The Optima trading platform is available in this account and it provides features like latest market news for keeping up with the changes in the market and a financial calendar for tracking important events.
To give you incentive, CoinePro has also added leverage of 1:200 in this account and they have set minimum trading lots at 0.1 lots. Traders can take advantage of static spreads under this account and they can also tap into the expertise of a personal account manager for making their trading decisions and handling their portfolio. The maximum amount that can be deposited under this account option is $4,999.
- Standard Account
The second account choice that CoinePro has added for catering to its clients is called the Standard account and this one targets intermediate traders. This refers to traders who are not completely fresh in the market and have been around for some time to become acquainted. Therefore, the minimum deposit required to open this account is set a bit higher at $5,000. As an incentive for opening this account, traders are given a welcome bonus of 25%. This account is the most popular account on CoinePro because it offers the best of both worlds.
In this account, access to masters partial is provided to the users. Traders are given improved trading conditions like leverage is increased to 300 while the minimum lot size is set at 0.5. The other features are consistent with the Micro account and the maximum investment that you can make through the Standard account is $24,999.
- Premium Account
The last account option that you will find on CoinePro is called the Premium account and this one is meant for experienced and professional traders. Therefore, the deposit requirement for this account starts at $25,000 and the maximum investment is set at $49,999. As these are high, so is the welcome bonus, which is 50%. Every other feature offered by the broker can be accessed under this account without any hassle. The minimal lot size is now increased to 1 and maximum leverage of 400 is available in the Premium account.
What Security Measures are Applicable?
Perhaps, the most crucial question that traders need to ask about a broker is their security infrastructure. In this digital world, cybersecurity risks are the biggest concern for people and if your money or your information is compromised, it can lead to disastrous outcomes. Thus, you need to ensure that you are not vulnerable when you trust a broker with such sensitive information and your valuable investment. CoinePro is aware of the security concerns that traders have and so, they have taken steps to help mitigate them as much as possible.
To start with, they have implemented first-rate security tools for protecting traders’ information. This involves the use of SSL (Secure Socket Layer) encryption that protects every single bit of data that’s shared with the broker by its clients. Along with this, CoinePro also complies with international security and privacy standards. Consequently, it is compliant with the KYC (Know Your Customer) and AML (Anti-Money Laundering) policies. These policies require traders to verify their identity and can prevent shady profiles and criminals from signing up with a broker.
Which Trading Tools are Supported?
Have you ever wondered what distinguishes professional traders from intermediate or beginner traders? It is their in-depth knowledge of the market and their expert use of the trading tools that can help them in making better and smarter decisions. The financial markets move and change at a rapid pace and traders need tools for helping them keep track and monitor them in order to identify and then take advantage of profitable opportunities. Luckily, CoinePro is fully aware of this fact because it has been developed by experienced traders and so, you will find a wide range of trading tools integrated on its trading platform. Some of the top tools that this broker supports are:
- Economic calendar
One of the most notable tools that you will come across on CoinePro is the economic calendar, which is needed for making critical trading decisions. This calendar provides you alerts about impending economic events, announcements and news, all of which can have a big impact on the markets, thereby affecting your trades. Thanks to this calendar, you will know when to adjust your trading strategy to minimize your losses.
- Risk management tools
Another set of tools that can prove to be absolutely vital for every trader are risk management tools. They are exactly what they sound; these tools can help you keep your risks at a minimum. They involve take profit and stop losses tools, which open and close trades at a specified price point, so you don’t lose more than necessary and are able to lock in your profits.
- Trading guide
A very useful tool that you will find on CoinePro is the trading guide, which boasts video tutorials for providing assistance and guidance to traders. This can help traders in learning the right strategies to improve their trading outcomes.
Apart from these tools, CoinePro has also added ratings of Central bank, forex calculator and currency converter for their users. All of these tools can be handy for every trader, whether they are beginners or expert traders, and can give them better results.
At CoinePro, you will also find a variety of payment methods that make it easy to deposit your money and withdraw your funds. The broker has also added plenty of educational resources for assisting their clients in mastering the art of trading. Plus, the customer support options are also impressive and can be used for getting proper answers. Put together, it can make way for a smooth trading experience.