Hi,
I just funded my Coinexx account with $5k. If I take the %100 bonus the leverage will be 200x. If I don’t take the bonus, I can have up to 500x leverage.
So I guess with bonus my account balance will be $10k and with 200x leverage.
Without bonus my account balance will be $5k with 500x leverage.
Which one is better?
My suggestion is to run.
Read 2 lines down.
Ok, unregulated. Still selected as “Trusted Broker”.
Let’s do the math.
$5k x 500 = $2.5 million buying power
$10k x 200 = $2 million buying power
I would be very suspicious as to why a broker would offer this. You need to do your due diligence before signing onto something like this. Read the fine print, there’s likely a catch.
You might be borrowing this money from the broker, and could very well get sucked into a monthly interest fee, like with a prop firm.
200x is a lot of leverage. I have 50x and it’s more than I need to get by. High leverage like that is just a recipe for disaster.
Thanks for the reply. Here is their terms and conditions for the bonus. https://coinexx.com/deposit_bonus. Doesn’t look suspicious to me. You are allowed to withdraw profits, meaning any profit after $10k ($5k initial deposit + $5k bonus).
However, I don’t see any benefits. They claim that “100% deposit bonus acts as an additional margin in your trading account. With additional margin, you can double up your trading activities & trading performance.”
Bonus will be removed if you loose equivalent to deposited amount, which is the initial $5k. Meaning you end up with $0. Where is the additional margin here? Maybe I am missing a point here, not sure.
Dang, I’m with Coinexx as well and I never got that offer! So far no complaints. Unregulated broker with 500:1 leverage. Tight spreads.
