Risk Warning
Note: Coincalls official site - https://coincall.co is currently not functional. Therefore, we could only gather relevant information from the Internet to present a rough picture of this broker.
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 contained in this article is for general information purposes only.
General Information
What is Coincall？
Coincall is an offshore forex and CFD broker with a focus on the crypto market. The platform presents itself as a platform that enables users to engage in trading activities and potentially generate profits. However, it is important to approach platforms like Coincall with caution, as there have been reports and concerns raised regarding its legitimacy and functionalities. These concerns include discrepancies between the advertised features on the website and the actual capabilities of the platform, as well as no regulation condition. The lack of clear information regarding regulatory compliance raises questions about the platform's adherence to industry standards and safeguards for user protection.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on. At the end of the article, we will also briefly make a conclusion so that you can understand the broker's characteristics at a glance.
Pros & Cons
Coincall Alternative Brokers
There are many alternative brokers to Coincall depending on the specific needs and preferences of the trader. Some popular options include:
Z.com Trade- It offers competitive pricing, a user-friendly interface, and a strong regulatory framework, making it a recommended choice for traders seeking a reputable broker with a focus on the Asian market.
AETOS - A global forex and CFD broker providing competitive trading services and advanced trading platforms to traders worldwide.
TeraFX - A reputable forex broker that offers a diverse range of trading solutions, backed by advanced trading tools and exceptional customer support.
Is Coincall Safe or Scam？
Coincall currently has no valid regulation, which means that there is no government or financial authority oversighting their operations. Besides, the official website of Coincall is inaccessible, indicating that the trading platform may have absconded. These make investing with them risky.
If you are considering investing with Coincall, it is important to do your research thoroughly and weigh the potential risks against the potential rewards before making a decision. In general, it is recommended to invest with well-regulated brokers to ensure your funds are protected.
Market Instruments
Coincall offers a variety of trading instruments across different asset classes, including lots of currency pairs, CFDs on commodities, indices, stocks gold, silver, natural gas, oil and crypto coins.
Currency Pairs: Coincall provides a variety of currency pairs for forex trading. This includes major pairs like EUR/USD, GBP/USD, and USD/JPY, as well as minor and exotic pairs.
CFDs: Trade on the price movements of stocks, indices, commodities, and other assets without owning them.
Cryptocurrencies: Trade popular digital currencies like Bitcoin, Ethereum, Ripple, and more.
Accounts
Coincall offers four live account types including Micro account, Bronze account, Platinum account and Gold account with the minimum deposit requirement of $250, $5,000, $25,000 and $50,000 respectively.
The Micro account is designed for beginners or those who want to start with a smaller investment. Traders with a Micro account can access basic trading features and instruments offered by Coincall.
The Bronze account is a step up from the Micro account and is suitable for traders who have gained some experience and want more advanced features. Traders with a Bronze account may have access to additional trading tools, educational resources, and potentially a wider range of trading instruments.
The Platinum account is geared towards more experienced traders who are looking for enhanced trading capabilities and benefits. Traders with a Platinum account may enjoy features such as personalized customer support, priority access to new features, and exclusive market analysis.
The Gold account is the highest-tier account offered by Coincall. It caters to professional or high-net-worth traders who require advanced trading tools and personalized services. Gold account holders may have access to VIP benefits, personalized trading strategies, and premium features to support their trading activities.
Leverage
Coincall offers a maximum leverage of 1:200 for their trading accounts. Leverage is a key feature in trading that allows traders to control a larger position in the market with a relatively smaller amount of capital. In the case of Coincall, a leverage ratio of 1:200 means that for every $1 of your own capital, you can potentially control up to $200 in trading exposure.
Leverage can be seen as a double-edged sword. While it can amplify potential profits, it also increases the risk of potential losses. Higher leverage allows traders to participate in larger market movements and potentially generate higher returns. However, it's important to note that leverage also magnifies the impact of price fluctuations, which means that losses can accumulate quickly.
Spreads & Commissions
Coincall offers the spread at 0.8 pips for the Micro account. Spreads refer to the difference between the bid and ask price of a trading instrument. They represent the cost of executing a trade and can impact the overall profitability of a trade. A lower spread indicates a smaller difference between the bid and ask price, which can be advantageous for traders as it reduces the cost of entering and exiting positions.
Besides, due to the unavailable website, there is no access to find out its commission.
Below is a comparison table about spreads and commissions charged by different brokers:
Note: The information presented in this table may be subject to change and it is always recommended to check with the broker's official website for the latest information on spreads and commissions.
Trading Platforms
Coincall offers web-based trading platform for its clients. The platform is designed to cater to the needs of both beginner and experienced traders, offering a range of features and tools to enhance the trading experience. The web-based trading platform offered by Coincall is accessible directly through a web browser, eliminating the need to download or install any software. This allows traders to access their accounts and trade from anywhere with an internet connection.
However, CoinCalls web-based trading platform lacks many features, standard with platforms like the MetaTrader4. For example, the CoinCall platform does not have the option to run automated trading sessions – something that you can quite easily do with a MetaTrader4, using specially designed customizable trading bots.
See the trading platform comparison table below:
Deposits & Withdrawals
Coincall accepts deposits and withdrawals via the standard Visa, MasterCard, wire transfer, as well as Bitcoin, OK Pay and flexepin.
This offers a widely accepted and familiar payment method for users who prefer using their cards for financial transactions. Deposits made through these card options are typically processed quickly, enabling traders to start trading promptly.
Wire transfers allow traders to transfer funds from their bank account to their Coincall account. While this method may take a bit longer for the funds to reach the trading account, it provides a secure and reliable means of depositing larger amounts.
Bitcoin, a popular cryptocurrency, can be used to deposit funds. This option appeals to traders who prefer the convenience and advantages of using cryptocurrencies for transactions.
OK Pay offers users a simple and accessible way to deposit funds into their trading account. The availability of OK Pay adds flexibility and convenience, particularly for traders who are accustomed to utilizing this payment solution.
Furthermore, Coincall accepts deposits through Flexepin, a prepaid voucher system that allows users to conveniently deposit funds using a voucher's unique code. This option offers a straightforward and secure way to deposit money into a trading account, without the need for a bank account or credit card.
Coincall minimum deposit vs other brokers
Customer Service
Customers can visit their office or get in touch with customer service line using the information provided below:
Email: support@coincall.co
Note: These pros and cons are subjective and may vary depending on the individual's experience with Coincall's customer service.
Conclusion
In conclusion, Coincall is a trading platform that offers a range of services to its clients. The platform provides access to various financial markets, allowing traders to diversify their portfolios and capitalize on different trading opportunities.
However, Coincall has many problems. First, it doesn‘t have regulation. Second, it is because the official website of Coincall is inaccessible that the relevant information doesn’t be provided, which makes trade not transparent enough. Therefore, traders should verify the regulatory status of Coincallor any broker they choose to work with to ensure compliance with industry standards and regulatory requirements.
Frequently Asked Questions (FAQs)
