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Coinone

Coinone Review
Trader's rating 0
Editor's rating 4

Trading Accounts

  

Account type Leverage Trading fee Deposit Fee
Standard 1:4 0.10% None

 

Coinone is one of the major Korean cryptocurrency exchanges. If you are enthusiastic about blockchain technology, you should know a few things about them even if you don’t plan on trading with them. As you may know the trading activity on Korean exchanges has been relatively high in recent times and even determines the short term price swings.

 

Coinone Advantages

 

Established local player – Coinone has been around since 2014 and the team behind this exchange looks very solid. There aren’t any reports of a major hack at this exchange, which is not the case with one of their major competitors – Bithumb.

 

High level of Security – Security seems to be a top priority for Coinone, as the company includes multi-signature wallets, two-factor authentication  (2FA) and cold storage. While there is no 100% guarantee of future safety, these factors are nice.

 

Low Fees – The costs of trading at Coinone are very competitive, with the offers by other exchanges. With a 0.10% maximum fee (which goes even lower, if you trade bigger volumes) this exchange is one of the cheapest. As a comparison, Kraken, another otherwise solid exchange charges up to 0.26%. 

 

Korean Bank Transfers accepted – Coinone accepts fiat currency deposits, via bank transfer. That being said, only Korean bank accounts can be registered with this exchange.

 

>>Get Bitcoin with a credit card<<

 

No fees on deposits – Unlike most other exchanges, this one does not charge fees on deposits (regardless of the methods of payment). Most services accepting fiat currencies charge something in the 2-10% range. 

 

7 coins available – The current list of coins available at Coinone includes: BTC, BCH, ETH, ETC, XRP, QTUM and LTC. This may be more than enough for some users, but there are those who are willing to explore exotic digital assets. If you are looking for more altcoins, be sure to checkout Bittrex and Cryptopia.

 

Leverage is available – Unlike most exchanges, Coinone  offers margin trading, with a maximum leverage ratio of 1:4. That being said this involves borrowing coins from other traders. This can be a costly and tedious process, so if you are looking to speculatively trade Bitcoin a forex broker may be a better alternative.

 

>>Bitcoin forex brokers<< 

 

Trading with such a company usually allows even higher leverage, but may not be suitable for long term positions. Read more here.

 

Nice trading platform – The “Pro Charts” feature of Coinone is very nice, when compared to some of the other crypto-exchanges. Here is a preview (a live chat is also included, click to zoom-in):

 

 

 

Coinone Disadvantages

 

Focus on Korea – Dealing with this company if you are not Korean will be hard, or even impossible, as they require having a local bank account. It is technically possible, but you will have to go through a lot of hassle.

 

Trading only against KRW – While this exchange offers several altcoins they can’t be freely traded against one another. Some clients may even see this as a positive, but at the end of the day, having the ability to quickly convert one coin into another will be viewed highly by others.

 

Few negative user reviews – We couldn’t find many user reviews on this exchange in English, but there were a couple of complaints regarding slow payments.

 

Withdrawal fees – These are not the miner fees associated with a given blockchain, rather fees which go to Coinone. They aren’t that big, but will still annoy some users. Here is the breakdown:

 

 

 

Conclusion

 

Coinone is one of the leading Korean cryptocurrency exchanges. They have been around since 2014 and acts as an entry level service for locals. Additionally the company provides access to “Jikgu” payments (a term used for Koeran online shopping from other countries).

 

The actual exchange platform is rather well-designed, which is probably one of the contributing factors to this venue’s popularity. At the time of writing of this review, they are only surpassed by Bithumb, in terms of BTC/KRW trading volume.

 

That being said, Bitcoin trading is not regulated in Korea, so if you are looking for a safer alternative, you may try with a forex broker.

 

>>Trusted forex brokers, offering Bitcoin<<

 

While we review this exchange from an outsider’s point of view (as the company is heavily focused on the domestic market), we generally like what we see. Here is a summary of this exchange:

 

 

Pros Cons
Established local player Focus on Korea
High level of security Trading only against the KRW
Low fees Few negative user reviews
Korean Bank Transfers accepted Withdrawal fees
No fees on deposits  
7 coins available  
Leverage is available  
Nice trading platform  

 

easyMarkets

easyMarkets Review
Trader's rating 5
Editor's rating 3

Trading Accounts

  

Account type   Minimum deposit  Minimum trade size Maximum leverage Spreads
Standard $100 0.05 1:400 3 pips*
VIP $5000 0.1 1:400 1 pip

 

*Those Standard account holders who deposit $250 or more, get VIP spreads.

 

easyMarkets offers its clients two trading accounts to choose from, available on two platforms – the good old MetaTrader 4 and the broker’s proprietary web-based platform. Both account types offer commission-free trading, fixed spreads and leverage up to 1:400. Micro lots are available for trade only to Standard account holders.

 

There are a number of features available solely to VIP account holders, such as Personal Market Analyst, Loyalty Rebates, Express Withdrawals, Free trading signals, Free Breaking news, SMS Alerts, etc.

 

If you don’t need such extras or simply don’t want to invest 5 thousand bucks, you can get VIP spreads on your Standard account by depositing $250.

 

Islamic (swap-free) accounts compliant with the Sharia law are also available to clients who don’t want to earn interest for religious reasons.

 

The Company. Security of Funds

 

Company

Country

Regulation

Easy Forex Trading Ltd.

Cyprus

CySEC

EasyMarkets PTY Ltd.

Australia

ASIC

 

easyMarkets (previously Easy-Forex) is the trading name of Easy Forex Trading Ltd. – a Cyprus-based brokerage, established back in 2003. It provides its services in over 160 countries worldwide, offering trading in 175 products ranging from currencies, CFDs on indices commodities, metals and Bitcoin, as well as options and forward contracts. 

 

Easy Forex Trading Ltd, doing business as easyMarkets, is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC, license No 079/07), and its Australian subsidiary - EasyMarkets PTY Ltd. - is authorized and regulated by the Australian Securities and Investment Commission (ASIC).


CySEC applies certain rules to license holders, one of them being the requirement such firms to hold a minimum capital in order to conduct their business operations legitimately. The Commission requires Cyprus-based forex brokers to hold at least €730 000. As regulation of financial services providers usually involves such a requirement, Australian brokers are obliged to hold a minimum of $1,000,000 by ASIC.


Furthermore, the Cypriot financial watchdog applies a compensation scheme as additional guarantee to clients’ funds. All CySEC-regulated companies are members of the Investor Compensation Fund, the compensation fund of last resort for customers of authorized financial services firms. If the Company becomes insolvent or ceases trading, it is able to pay compensation to its covered clients, amounting to a maximum of 20,000 EUR.


Unlike many other EU-based brokers, Australian ones are not covered by any compensation scheme.

 

Focus on client protection 

 

 

 

 

easyMarkets is a broker that places a special focus on client protection. Apart from offering tight fixed spreads, which do not widen during news releases, easyMarkets is one of the few brokers that provide Negative Balance Protection. This means that you can never lose more funds than you have deposited, even though you are trading on margin.

 

Besides, it allows forex traders to cancel losing trades via its state-of-the-art feature dealCancellation, available on its in-house platform.

 

Trading Conditions

  

Minimum initial deposit

In order to open an account with easyMarkets, one has to deposit at least $100, which is a reasonable and competitive minimum initial deposit.

 

Spreads & Commissions

This broker offers fixed spreads, which allows traders to predetermine their costs. What is more, no commission fees are charged, as the broker generates revenues through the bid-ask spread paid by traders on each transaction.

 

Although fixed spreads generally tend to be wider that variable ones, this is not the case with easyMarkets – their spreads amount to 1 pips on EUR/USD and are accessible with a deposit of $250. In comparison, Exness and Plus500 (also regulated by CySEC) offer fixed spreads amounting to 2 pips for this currency pair.

 

Leverage

The maximum leverage level offered by this broker is 1:400, which is considered comparatively high, as CySEC has recently proposed the default leverage provided by brokers to be 1:50. The reason for such leverage limitations is that higher leverage involves higher risk of heavy losses. Nonetheless, many Cyprus-based brokers offer high leverage levels: XM – up to 1:888, FXTM – up to 1:500.

 

Trading Platforms

 

Clients of easyMarkets may choose from the broker’s proprietary web-based platform and the popular Metatrader 4 (MT4).

 

easyMarkets’ in-house platform offers advanced charts, live market news, technical analysis and sentiment all in one screen, one click trading (from the Market Explorer).

 

What is more, platform users get free Guaranteed stop loss and dealCancellation option, which are indeed two great risk management tools.

 

 

easyMarkets’ in-house web platform. Click to enlarge

 

 

In addition, easyMarkets offers the powerful MT4, allowing traders to fully automate their operations by choosing from a wide range of Expert Advisors (EA) and let the program do all the work. This is one of the reasons this platform to be preferred by most traders. Besides, it offers a number of useful technical indicators, extensive back-testing and advanced charting package, which includes the option to trade straight from the chart. Here is a list of more forex brokers offering MT4 platform.

 

Bonuses & Promotions

By the time of writing this review, there are two promotions offered (effective until March 31, 2016)

-        - First deposit bonus on initial deposit ranging from 30% to 50% (up to $2 000);

-         - Refer-a-friend bonus from $25 to $500 for new clients who deposit at least $250. 

 

Methods of Payment

 

easyMarkets offers a variety of payment methods, including credit cards (Visa, Mastercard, Maestro, Visa electron), bank transfer and e-wallet systems, such as, Skrill, Neteller, WebMoney, SoFortüberweisung, American Express, Giropay, Ideal and UnionPay.

 

For withdrawals to credit/debit cards and eWallets there is no minimum withdrawal amount. For withdrawals to bank accounts, a minimum amount of USD 50 is required. All deposits and withdrawals with easyMarkets are commission-free.

 

Conclusion

 

easyMarkets is a well-regulated broker that offers trading in wide range of financial products products worldwide through both its proprietary platforms and the industry’s standard MT4. This is a broker that places a special focus on client protection. To sum up the above, here are the advantages and drawbacks with regards to this broker: 

  

 

Pros

Cons

Well-regulated

No significant disadvantages

Tight fixed spreads, no commission fees

 

Variety of trading platforms offered, MT4 available

 

Negative balance protection, option to cancel losing trades

 

Promotions available

 

 

Headquarters: P.O.Box 53742, Limassol 3317
 

Country: Cyprus

 

Regulated by: CySEC – License Number 079/07

Forex
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