Coinlocally -Trading safe? - WikiFX
Abstract：Coinlocally is an unregulated broker, offering trading on forex, crypto, metals, indices, energies, equities and ETFs .
| CoinlocallyReview Summary | |
| Founded | / |
| Registered Country/Region | Armenia |
| Regulation | No regulation |
| Market Instruments | Forex, crypto, metals, indices, energies, equities, ETFs |
| Demo Account | ✅ |
| Leverage | Up to 1:1000 |
| Spread | From 0.0 pips |
| Trading Platform | Web/MT5/Meta Mobile Trader |
| Min Deposit | $50 |
| Customer Support | 24/7 customer support |
| Live chat | |
| Telegram, instagram, pinterest, X, medium | |
| Tel: +374 10239997 | |
| Email: support@coinlocally.forex | |
| Regional Restrictions | USA clients are not allowed |
Coinlocally Information
Coinlocally is an unregulated broker, offering trading on forex, crypto, metals, indices, energies, equities and ETFs with leverage up to 1:1000 and spread from 0.0 pips on the web-based trading platform, MT5 and Meta Mobile Trader. The minimum deposit requirement is $50.
Pros and Cons
| Pros | Cons |
| Tight spreads | Unable to USA clients |
| With demo account | No regulation |
| MT5 platform | |
| Low minimum deposit requirement |
Is Coinlocally Legit?
No. Coinlocally currently has no valid regulations. Please be aware of the risk!
What Can I Trade on Coinlocally?
Coinlocally offers trading on forex, crypto, metals, indices, energies, equities and ETFs.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Crypto | ✔ |
| Metals | ✔ |
| Indices | ✔ |
| Energies | ✔ |
| Equities | ✔ |
| ETFs | ✔ |
| CFDs | ❌ |
| Commodities | ❌ |
| Bonds | ❌ |
| Stocks | ❌ |
Account Type
Here are five account types Coinlocally offers:
| Account Type | Min Deposit |
| Standard | $50 |
| VIP | $1000 |
| Crypto Pro | $50 |
| ProCent (temporarily unavailable) | $1 |
| ZCA (temporarily unavailable) | $50 |
| Demo | ✅ |
Leverage
| Account Type | Min/Max Leverage |
| Standard | 100/500 |
| VIP | 25/100 |
| Crypto Pro | 25/125 |
| ProCent (temporarily unavailable) | 100/1000 |
| ZCA (temporarily unavailable) | 100/1000 |
Since leverage, can amplify both profits as well as losses, choosing the right amount is a key risk determination for traders.
Coinlocally Fees
Trading Fees
| Account Type | Commission |
| Standard | From 0.0028% |
| VIP | From 0.0015% |
| Crypto Pro | From 0.045% |
| ProCent (temporarily unavailable) | 0.05% |
| ZCA (temporarily unavailable) | 0 |
Coinlocally Spreads
The spread is floating from 0 pips.
Swap Rates
| Account Type | Swap |
| Standard | Yes |
| VIP | Yes |
| Crypto Pro | Yes |
| ProCent (temporarily unavailable) | No |
| ZCA (temporarily unavailable) | Yes |
Trading Platform
| Trading Platform | Supported | Available Devices | Suitable for |
| Web | ✔ | Desktop | / |
| MT5 | ✔ | Windows, web, mac, IOS, Android | Experienced trader |
| Meta Mobile Trader | ✔ | Mobile | / |
| MT4 | ❌ | Desktop, mobile, online web trader | Beginners |
Deposit and Withdrawal
The broker accepts payments via cryptocurrencies, Visa Card and Master Card. Deposit and withdrawal are zero.
Deposit & Withdrawal Options
| Deposit Options | Min. Deposit | Fees | Processing Time |
| Cryptocurrencies | $1 | No | Instant |
| Visa Card | $20 | No | Instant |
| Master Card | $20 | No | Instant |
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