Launched in 2017, TradeCoins is a non-regulated cryptocurrency broker offering anonymous trading in Forex and CFDs, including crypto trading assets. Notably, TradeCoins claims to be the first trading platform to offer cryptocurrency payments such as Bitcoin to retail traders in South Africa and across the globe. Notably, customers deposit and withdraw in cryptocurrencies, guaranteeing the safety and privacy of their transactions. To facilitate trading for customers who don’t own cryptocurrencies, TradeCoins sells cryptocurrencies to registered clients directly from the platform, to deposit to their live accounts for immediate online trading. To find out about the trading conditions at TradeCoins, read our in-depth review covering trading accounts, funding methods, and platform features. The TradeCoins website is translated into 7 languages including German, Spanish and Italian.
TradeCoins Special Features
Customers in South Africa and elsewhere, are not given a choice of live trading accounts with different benefit packages by TradeCoins. Clients can set up a demo account free of charge before depositing, or deposit immediately for real money trading on the platform.
Registering a Live Account with TradeCoins
For account registration, customers need to give an email address and a password. A telephone number can be given if the client chooses to share this information with the broker. Subsequently, customers must deposit Bitcoin, Ethereum, Dash, Litecoin or Monero to the trading account via a personal crypto wallet. Clients in South Africa and across the globe, without crypto wallets, can buy Bitcoin from TradeCoins.
- Open a Bitcoin wallet online
- Buy Bitcoin by following the video tutorial at TradeCoins
- Transfer Bitcoins from the personal Bitcoin wallet to the personal account at TradeCoins
- To do so, find the QR code or address for depositing Bitcoin on the ‘Deposit’ page at TradeCoins
- Copy the address or scan the QR code, paste it on the Bitcoin wallet
- Send an amount to the personal TradeCoins account
TradeCoins Demo Account
Customers need only give an email address and a password, to register a Demo account with TradeCoins. Traders are allocated 5 Bitcoin for practice trading on the trading platform with real deals available. 40 assets are made available for trading including cryptocurrencies, Forex, commodities, stocks, and indices. It’s worth noting that Bitcoin is only available for risk-free trading and can’t be withdrawn from the account, just as the profits made on the demo account are not real. Importantly, traders can use the demo trading experience to become familiar with all the tools and features on the platform. Subsequently, when they begin trading with real Bitcoins, they have a full understanding of the way the platform works and the potential to make profits from day one.
TradeCoins Trading Software Features
The proprietary trading platform offered by TradeCoins is an easy to use binary options platform with Up and Down trading options. The platform is browser-based and accessible from desktop and mobile devices without a software download. Traders in South Africa and elsewhere can choose more than 40 tradeable assets including cryptocurrencies, indices, commodities, stocks, and Forex. The platform has various charts and trading modes as well as full trading history and historical quotes. Customers can choose deal times from 60 seconds to 3 months and can get up to 81% returns on investment.
TradeCoins Customer Support
To get in touch with the customer support team, traders can use the live chat helpline on the platform interface. Should the agents not be available, clients are asked to leave a message with an email address, so they can be contacted. Additionally, clients can phone a couple of international numbers on the contact page. This is an expensive way of contacting customer support if traders live in South Africa. Additionally, TradeCoins offers 24/7 assistance to customers about trading strategy, from an account manager. Moreover, a simple video tutorial is available on the website explaining how to buy Bitcoin from TradeCoins directly.
TradeCoins Payment Methods
Customers registering a trading account with TradeCoins are required to deposit with a digital currency, thereby bypassing the banks. Currently, the brokerage supports deposits in Bitcoin, Ethereum, Litecoin, Dash and Monero. The minimum deposit amount in Bitcoin is 0.1 BTC where the equivalent in traditional currencies such as USD and EUR, depends on the current market exchange rate. Importantly, because of the volatility of cryptocurrencies, the exchange rate varies enormously and affects customers’ available liquidity for online trading on the TradeCoins platform.
Withdrawals from TradeCoins are processed within 47 minutes which is incredibly fast. However, it’s important to close all positions on the trading platform before making a withdrawal request. The funds are paid in the same cryptocurrency used to deposit and to the same digital wallet from where the deposits were made.
Moreover, clients do not need to reveal sensitive data to withdraw from their trading accounts at TradeCoins, unlike conventional brokers who oblige customers to provide a government-issued ID and proof of address. When cryptocurrency markets rise during the period that customers trade, it’s possible to profit twice. Once making profitable investments on the trading platform and a second time on the cryptocurrencies themselves as their market value grows.
Whilst there are no limits on the size of withdrawals, TradeCoins charges fees, costs, and expenses to customers for trading, deposit and withdrawal services. Customers in South Africa and elsewhere can see the schedule of fees only after opening a trading account with TradeCoins and should consider them carefully before beginning to trade on the platform.
TradeCoins is owned by Titan Marketers Ltd. However, details of the company location are not given on the website.
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