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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  

 

FBS

FBS Review
Trader's rating 4
Editor's rating 4.4

Trading Accounts

Account type Minimum deposit Minimum trade size Maximum leverage Spreads
Cent $1 0.01 lot 1:1000 from 1 pips
Standard $100 0.01 lot 1:3000 from 0.5 pips
Zero Spread $500 0.01 lot 1:3000 0 pips + $20/lot
Micro $5 0.01 lot 1:3000 fixed, from 3 pips
ECN $1000 0.1 lot 1:500 from -1 pip + $6/lot

 

While most brokers provide several account type options, Clients of FBS are offered a choice of four. All of them offer market execution and the chance to trade in micro lots in Cent account for more precise risk management. Besides, FBS’s clients may choose between variable spreads, commission-free trading and zero spread plus commission.

 

In addition, FBS provides swap-free (Islamic) accounts as well as VIP Services. STP/ECN environment is also available with this broker.

 

Keep in mind that this broker does not provide financial services to residents of Belize, USA and Russia.

 

The Company. Security of Funds

 

Company

Country

Regulation

FBS Markets Inc.

Belize

IFSC

Tradestone Limited

Cyprus

CySEC

 

Established back in 2009, FBS is now a popular international broker which has won numerous awards. It offers its clients competitive trading conditions, wide range of trading accounts, payment methods, a choice of fixed and variable spreads, Metatrader 4 and MetaTrader 5, as well as various promotions.

 

Behind the brand is FBS Markets Inc., a company licensed and regulated by the International Financial Services Commission of Belize (IFSC).IFSC has very liberal control over forex brokers, but still, the regime in Belize is far better than those in other offshore jurisdictions.

 

In 2017 FBS, undertook an important step and got licensed in one of the most popular destinations for forex brokers – Cyprus. Its EU entity Tradestone Limited operates under the regulatory oversight of the Cyprus Securities and Exchange Commission, a.k.a. CySEC.

 

Forex brokers licensed by CySEC must comply with a number of requirements regarding capital adequacy, transaction reporting, clients’ funds segregation, AML policies, etc. Besides, all licensed entities are members of the Investor Compensation Fund, which may cover a maximum of 20,000 EUR per person in the event of broker insolvency.

 

Furthermore, under the MiFID regulations every CySEC-regulated ibroker is entitled to operate throughout the EU and the EEA.  

 

Trading Conditions

 

Minimum Initial Deposit

One may open an account with FBS with just $1 – a symbolically low initial amount. In comparison, FX Choice (which also holds a license from IFSC) requires at least $100 as a minimum for opening an account, but it offers pure STP/ECN environment.

 

Average spreads & Commissions

According to us, the best spreads of FBS are offered on the ECN account type. Spreads on ECN account start from -1 pip (negative spread) and the commission is just $6 per lot.

 

In comparison, Fx Choice offers typical spreads amounting to 0.5 pips on EUR/USD, and commission of $3.86 per lot applies. For further information, you may look up real-time spreads of 15 leading brokers here.

 

Maximum Leverage

The maximum leverage levels available with this broker are among the highest in the industry, reaching 1:3000. While this may sound attractive, especially to traders on a small budget, since it allows them to operate with significantly higher amounts, keep in mind that higher leverage involves greater risk.

We advise traders to exercise caution when using higher leverage levels.

 

Trading Platforms

 

FBS provides its clients with a choice of three trading platforms: Metatradeer 4 (MT4) and MetaTrader 5 (MT5) and mobile trading platform by FBS.  All platforms are offered as desktop, web and mobile versions.

 

MetaTrader 4 is the most popular forex trading platform. Equipped wirth a number of technical indicators, advanced charting tools, extensive back-testing environment, and a wide range of Expert Advisors (EA), it is preferred by most traders.  allowing clients to fully automate their trades. MT4 comes in desktop, and mobile versions.

 

As most MT4’s indicators and Expert Advisors (EA) are not supported on the MT5 platform, the latter is still in the shadow of its predecessor. Recently, however, a number of enhancements were made to the MetaTrader 5 and the hedging option was finally added to it and it gains popularity. What is more, Russian developer MetaQuotes announced it will no longer issue updates to the MT4 and will instead concentrate on the MT5.

More brokers using the MT5 can be viewed here.

 

Promotions

FBS runs a variety of promotions. At the time of writing this review the following bonuses are available:

 

- Welcome trade 100$ bonus

- 100% bonus for deposit;

- Cashback program, allowing traders to receive up to $7 per lot.

 

Methods of Payment

 

FBS offers its clients a wide range of payment methods: credit cards (Visa, Visa Electron, Mastercard), bank wire, Skrill, Neteller, Perfect Money, OKPAY, YuuPay, LaoForexBoard, FBS Asia Exchanger.

 

Conclusion

 

FBS appears to be a decent broker, who has operated for more than 9 years and has won many awards. It offers reasonable conditions for trading in a variety of products through different platforms. Here are, in a nutshell, the advantages and disadvantages of FBS:

 

Pros Cons
   
Variety of platforms, MT4 available  No significant disadvantages
Competitive spreads (especially on ECN accounts)  
Low minimum deposits required  
Variety of promotions  
ECN/STP environment available  

 

Headquarters:  Suite 5, Garden City Plaza, Mountain View Boulevard, BELMOPAN, Belize, C. A.

Country: Belize 

Regulated by: IFSC, CRFIN

Website: www.IdnFBS.com

Bonus:

$5 no deposit bonus!
Open an account and get $5! No deposit required! 

100% Bonus
Get 100% on all deposits

FBS deposit insurance!
With FBS you can be sure that in case you lose your deposit FBS will return it!

FBS MasterCard
Try out advantages of deposit and withdrawal anytime and anywhere with your FBS MasterCard

Super Trader Contest for real accounts
Unlimited prize fund! 30 traders get 10$ for each traded lot and super gadgets.

FBS Pro Demo Contest 
Become a real professional of Forex Market. Prize fund: $1000 each month. 

Bonus for IB 
Every IB gets real funds for every real client acquired.


iPartner
Acquire clients, get points and win super prizes from FBS!

Share your secret of success

If you increased your Bonus $5 10 times and more, share your secret of success and get $7 from FBS!

Self-rebate

Trade with FBS and receive up to $ 15 per transaction additionally!
 

Awards:
 
2015 - Best ECN/STP Forex Broker
2015 - The Best Broker Insurance & Service. Excellent of The Year. 
2014 - Best Broker in Southeast Asia (Forex Report Awards by World Finance)
2014 – Best Broker Asia Pacific (International Finance Magazine)
2014 – Best Forex Brand Asia (Global Brands Magazine) 
2013 - Best Partnership Program (Masterforex-v)
2013 - Best Trading Platform (China Finance Online) 
2013 - Best Forex Broker South-East Asia (World Finance)
2013 - Best Broker in Asian Region (Forex Expo)
2012 - Best MT4 Platform (9th China (Guangzhou) International Investment & Finance Expo)
2012 - Best Forex Broker Asia (World Finance Awards)
2012 - Fastest Growing Forex Broker Asia (Global Banking and Finance Review)
2011 - Best Mini Forex Broker (World Finance Awards)
2010 - Best Mini Forex Broker (ShowFX World)
 

 

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