Coins 247 is a new cryptocurrency broker who claims to offer one of the most sophisticated trading platform. Their interface is user-friendly and can be accessed through any device which has an active internet connection. The maximum leverage offered by them is 1:40, but that is normal if you compare it to the other alternatives.
Their client base is growing gradually and looking at their marketing efforts, it might have caught your attention too. Go through our review to find out all the facts about this broker and decide for yourself whether they suit you or not.
Disclosure: We get commissions for purchases made through links in this post.
Ownership and Customer Care
Transparency and the legality are the two things every legit broker upholds. Coins 247 is owned by ™ Capital LTD, this firm is incorporated under the law of Bulgaria.
Registration Number – 205296441
Registered Office – 1505 Sofia city, Sofia District, Metropolitan Municipality, Slatina Region, 21 Brichitor Street, app 4, Bulgaria.
If you need any help on their platform, then you will be happy to know that they offer 24/7 customer support. Clients can reach them through many methods which is listed below.
However, note that they also have telegram channel. It is good to know that they are taking every step to interact with the customers directly.
Phone – +3728801448
Email – [email protected]
Charting Platform and Interface
This topic is a subjective one, but there are a few things you should be aware of Coins 247 does not offer MT4 platform. So, all the automated trading Expert Advisors cannot be run with this broker.
Moreover, the lack of MT4 integration means that you cannot import most of the custom indicators. On the bright side, TradingView also has a number of unique feature. Since the whole platform is web based, the experience of using iw will be seamless across all your devices.
The number of indicator available by default will be enough for most traders. However, the users might have to pay to unlock all the features.
We do not know whether this broker offer account management services, but even if they do keep an eye on the fees. As far as asset management is considered, always make sure that you check the entire trading records of the person whom you would like to copy the trades from.
Account Types and Leverage
Leverage on this broker depends on the account type you choose. There are a few distinctive advantages for choosing the more premium versions, but it depends on your approach to the market.
Here are the list of factors you get with the specific types of accounts.
Minimum Deposit – $250
Minimum Deposit – $10,000
Senior Account Manager
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Minimum Deposit – $25,000
Executive Account Manager
Technical and Fundamental Education
Minimum Deposit – $50,000
VIP Account Manager
Technical and Fundamental Education
This domain was registered privately. So, we could not trace the identity of the owners. However, here are the main details of this website.
Domain – Coins247.io
Registered on – 20/09/2018
Expires on – 20/09/2019
Alexa Global Rank – 3,409,154
Due to lack of data, we do not know the traffic source of this site.
Depending on the amount of your starting capital this broker provides you a matching bonus. However, before you accept them, read all the terms and conditions.
Most of the time traders are required to generate 10 times to 25 times the bonus amount. So, if you do not have a clear idea about what you are doing, then definitely avoid that. On the other hand, if you are starting with low initial deposit amount, then taking bonus will give you more money to play around with.
Deposit and Withdrawals
Coins 247 accepts major credit and debit cards along with wire transfer. The fees associated with the deposit and withdrawals are unknown. Minimum deposit is $250, but there is no information of the minimum payout or about the time they take to process them.
Before dealing with them, get in touch with their support team and gather the details once. Although, lack of e-wallets might be a deal breaker for some, majority of the people might be comfortable with the current options.
Coins 247 Review Conclusion
Coins 247 lacks credibility. Since they are new, there aren’t any feedback from the clients about their service. We are not saying that it might be harmful, but it’s always better to stick with FCA regulated brokers. Given the amount of choices available, right now it is not all that safe to indulge with them.