Cryptoneyx Review – A Step-by-Step Assessment of the Broker

Cryptoneyx Review

Are you thinking of joining the online trading train? In the last few years, there has been an influx of people in the financial markets, particularly cryptocurrency, due to their profit potential. Who doesn’t want a slice of the very profitable pie? Likewise, the other markets, such as forex, stocks and commodities, also appear to be doing quite well, even when the economy is struggling to get back on track after the global COVID-19 pandemic wreaked its havoc. This means that online brokers are in demand and Cryptoneyx review can help you in your selection.

These brokers are responsible for helping you trade in the financial markets; they connect you to the markets, give you the platform needed for trading and also equip you with the tools that can be helpful. Suffice it to say, they play a crucial role in your trading experience, so they have to be capable of doing their job. But, you have to remember that like other industries, online trading also has intense competition. No, you don’t need to worry about opportunities running out because that won’t happen. There are literally hundreds of thousands of instruments that people can trade, so there is plenty of room.

The competition applies to the companies providing trading services i.e. online brokers. When online trading was introduced, there weren’t a lot of them operating in the market. People were also hesitant in trying this digital method of trading, but things began to change gradually. As technology became more widespread and people understood the convenience they could enjoy by trading online and the elimination of barriers to entry, traffic in the financial markets increased. This meant that more brokers were needed for accommodating people and their numbers began to go up.

Today, there is a plethora of these brokerages that you can find in the financial markets and they claim to offer exceptional trading services to people all around the world. Of course, you cannot believe everything you read on the internet; this is a well-known fact. How does it apply here? This means that just because a company is offering to provide you with everything doesn’t mean they are truly doing so. Creating a website has become immensely easy nowadays and anyone can add whatever content they want. Thus, just because you are impressed by a broker’s website doesn’t mean you should sign up with them right away.

They may offer quality services, but this doesn’t mean that those services are what you are looking for. No two traders are the same; their priorities, expectations and preferences differ, which affects their choice of brokerage. Hence, it is important for you to do a step-by-step assessment of a broker’s offerings in order to know what they offer and if it fits your criteria. In case it doesn’t, you can always look for a different option. Sure, you can do this after you have signed up as well, but that will be a waste of your time and there may be some losses as well.

It is better to do this before you invest your hard-earned money. Cryptoneyx is one of the forex and CFD brokers that are offering their services to a global clientele. They cater to retail traders and investors and their purpose is to help everyone in tapping into the investment opportunities offered by the financial markets. The company was established by MarCo Global Properties LTD in 2017, which is registered in the Marshall Islands. They may not be as experienced as some of the other companies, but their reputation indicates that they know what they are doing.

Nonetheless, you still need to assess their features and you can follow the steps in the review below:

Broker	Cryptoneyx
Website	https://statusmarkets.com/
Trading Accounts	Three Account Types; Silver, Gold and Platinum
Minimum Deposit	$250
Assets Coverage	Forex currency pairs, Stocks, Cryptocurrencies, Indices and Commodities
Trading Tools	Trading Indicators, Trading Calendar, Calculator, Signals, Live Charts, Technical Analysis Tools and Reports, Price Alerts, Market Research, Economic Calendar, Financial News and Risk Management Tools
Education and Training	Yes; e-books, online video courses, webinars, seminars, tutorials, in-depth research and glossary.
Customer Support	24/5 support via email address, phone number, live chat and online contact form. An FAQ section is also available.
Security Policy	KYC (Know Your Customer) and AML (Anti-Money Laundering)
Parent Company	MarCo Global Projects LTD

Step 1: Begin with the registration requirements

It is understood that a registration process has to be completed before you can begin using any broker’s services. This applies to every online service you use nowadays, so it shouldn’t come as a surprise. However, the process can and does vary from platform to platform because there no established format that needs to be followed. It is at the discretion of the company to decide what they want their potential clients to do; some ask for a contract signing, some require extensive documentation, while others may also have an approval process.

Checking the requirements beforehand ensures that you are well-prepared to open your trading account and can meet the criteria of the broker’s clients. If their services are not for you, it is better to look for a different option than waste your time. A look at Cryptoneyx’ registration process shows that they don’t have any time consuming, or challenging requirements that you have to deal with. In fact, they have kept their procedure very simple and quick, so people can start trading as quickly as possible.

In order to start with the registration process, you need to go to the Cryptoneyx website where you will be provided a form to fill. The form asks for your name, surname, email address, phone number and country of residence. A total of five languages are listed, which are English, Spanish, German, Russian and Polish, and you have to choose one you want to use. The last couple of steps involve confirming that you are not a resident of the US and are 18 years old. Agree to their Terms & Conditions and the process will be complete.

There are no other steps you have to take, or no approval process involved. All in all, it doesn’t take you more than five minutes to register yourself with Cryptoneyx to begin your trading journey.

Step 2: Check out the account options

Registration is undoubtedly the most important step you have to take, but there are still a couple of things you need to do before you can start trading. First and foremost, you have to open an account and this means you have to assess the options that are provided to you by the broker. Yes, you are usually given more than one option, especially if the company is offering its services to traders of different skill levels. Their needs will certainly be different and this has to be taken into account when creating options. Why do you need to assess them?

You should assess them to figure out which account option suits your needs and if you will be comfortable using it. The account choices you will come across at Cryptoneyx have also been designed to fulfill the needs of traders with different trading styles and risk appetites. Therefore, you can distinguish them based on the trading conditions and features they offer. A total of three choices have been added, which are Silver, Gold and Platinum.

Silver is the first account and it is aimed at traders with no previous experience in the market. This explains why it has the lowest leverage ratios for different markets. Forex currency pairs have a leverage of 1:200, while indices, commodities and precious metals including gold and silver have a leverage of 1:50. Stocks/equities can be traded at a leverage of 1:20 in this account. The next option is referred to as Gold and Cryptoneyx came up with this option for catering to intermediate traders on their platform.

As these people have some experience under their belt, they are offered higher leverage. Forex currency pairs have a leverage of 1:300, whereas commodities, indices and precious metals (gold and silver) get a leverage of 1:100. As for stocks and equities, you can take advantage of a leverage of 1:40 in this account. The final account option that Cryptoneyx is offering is called Platinum and this one is for skilled, advanced and professional traders. They have more experience and knowledge, so they get the highest leverage, starting with 1:400 for forex currency pairs. As for precious metals, commodities and indices, the leverage is increased to 1:125 and 1:50 for stocks and equities.

These accounts have also been equipped with some strong features by Cryptoneyx for helping its clients make the most of their trading experience. These include news alerts, free VPS, support for hedging, a dedicated account manager, a 25% swap discount for Gold and 50% for Platinum account users, webinars and videos, customer support, fifth decimal and the availability of an Islamic account.

Step 3: Look at the payment options

After you have assessed the account options you are given and have found one that suits your needs, the next step is to make a deposit in order to start trading. This is an essential step because you cannot really trade without money, so you have to figure out how to deposit your funds. This will depend on the broker because they will give you the payment options they support and you will be required to choose one that you can use comfortably and easily. Modern and traditional payment options have been added by Cryptoneyx for facilitating its clients.

They allow people to use debit and credit cards, which include Visa, Maestro and MasterCard as well. This method is quick and efficient, but if you prefer a traditional option, then you can go with bank wire transfers. It may take time, but it is considered very secure. The same options can also be used for withdrawals. One of the best things about Cryptoneyx is that they do not have any fee for deposits or withdrawals. You don’t have to worry about incurring any cost, every time you make a deposit, or submit a withdrawal request.

But, you should be aware that you are required to verify your trading account with Cryptoneyx before your transactions can be processed. This is in compliance with the KYC (Know-Your-Customer) and AML (Anti-Money Laundering) policies that are implemented. Their goal is to minimize the risk of identity theft, financial fraud, money laundering and terrorist financing. In accordance with these policies, traders are required to provide proof of identity and address for verifying their accounts. The former needs a national ID card, driving license, or a passport, which should be valid and show your name and photograph.

The latter requires a bank statement, or a utility bill, such as electricity, gas or water, showing your full name and address and an issue date of the last three months.

Step 4: Consider the trading instruments

Now that you have done all the steps and your trading account is ready, you should consider the trading instruments that are at your disposal. You need to assess if the options given to you are profitable enough and can help you in achieving your financial goals. Moreover, the trading instruments also need to be in accordance with your risk tolerance. If you want to trade in a specific market, you should ensure that the brokerage is capable of giving you access and not just making tall claims.

The trading instruments available at Cryptoneyx belong to some of the leading financial markets around the globe. You have more than 100 trading instruments to choose from and they are some of the most profitable and popular names, which ensures that you can meet and fulfill your targets easily. In addition, the availability of such a range of instruments also enables you to diversify your trading portfolio. This is undoubtedly beneficial because it means that you will be able to mitigate your trading risks and increase your profits.

You can start with the stock market, as Cryptoneyx allows you to trade stocks of some of the world’s most prominent and renowned companies. These include Apple, Amazon, Google, BMW, Pfizer, PayPal, Nike, Exxon Mobil, Alibaba, JPMorgan and more. If you prefer to trade baskets of stocks, rather than individual ones, the indices market is just what you should explore. They have given some of the most lucrative and profitable indices for you to choose from, such as S&P 500, FTSE 100, DAX 30 and CAC 40.

The biggest financial market in the world due to its massive trading volume is none other than the forex market and this is another space that you can check out. Major, minor and even rare currency pairs have been added by Cryptoneyx for its clientele, which include GBP/USD, USD/CAD, AUD/NZD, EUR/USD, USD/CHF, GBP/CAD and EUR/GBP. If you prefer trading digital currencies, you can always make a foray into the cryptocurrency market. A horde of cryptocurrencies can be found here, which include Bitcoin, Litecoin, Ethereum, Bitcoin Cash, NEO, Ripple, Monero, Tether and Dogecoin. To help traders in balancing their portfolio, the commodities market is a solid choice.

There are hard and soft commodities that Cryptoneyx has listed, which can give consistent returns to traders. Hard commodities include precious metals, such as gold and silver, whereas soft ones include agricultural items like wheat, sugar, coffee and rice. You will also find energy commodities to choose from, which include natural gas and crude oil.

Step 5: Go over the trading platforms

Once you have determined what trading instruments are available and have chosen the ones to trade, it is time to figure out how the broker will let you trade them. This means checking out what kind of trading platform has been provided, which is the software that will be used for trade execution. This platform is a distinguishing feature in brokers and it affects your trading experience the most. A complicated platform means that you will have to deal with a learning curve, while a slow one can hamper your trading.

Similarly, if the trading platform in question doesn’t provide you the necessary tools, you will not be able to maximize the trading opportunities. Thus, you have to assess the trading platform before giving the green light to the broker. You will find that Cryptoneyx offers you more than one trading platforms to choose from. This is definitely appealing because it is very rare for companies to do that and multiple options increase the likelihood of you being able to find a suitable platform for your needs. There are three different versions of trading platforms you can find; web-based, desktop-based and mobile trading apps.

This ensures that traders can enjoy flexibility and make the most of their trading. The most important offering of Cryptoneyx is the MetaTrader4 trading platform. Even if you don’t have prior experience in the financial markets, you have probably heard of the MT4 platform. This is a superior trading solution that can fulfill the needs of every trader, whether beginner or expert, and is recommended by some of the top traders in the market. It uses revolutionary and modern trading technology to deliver fast trade execution to users.

The platform is also equipped with Expert Advisors (EAs) that can be helpful in automated trading and one-click trading features can also simplify the process. The MT4 trading platform is available at Cryptoneyx for both Mac and Windows desktop devices. But, if you don’t want a downloadable trading solution, there is a web-based platform also available. This can be accessed on any device that supports an internet connection and a web browser. It has an intuitive interface, which makes it extremely easy to use for everyone.

This saves you from having to worry about overcoming a learning curve. Along with these two trading solutions, you will also be able to take advantage of mobile MT4 apps that Cryptoneyx has added to their offerings. These are available for both Android and iOS and can be used for trading on the go. You can stay connected to your account at all times and take advantage of the smallest price movements easily.

No matter which trading platform you decide to use, you will come to know that Cryptoneyx has added some of the top and most advanced trading tools for your ease. You can make use of a variety of technical analysis and risk management tools, and there are graphs and live and interactive charts available. You can also get price alerts, trading signals, latest market news alerts and there are various custom indicators that can also be found, all of which can help you in making smart decisions.

Step 6: Remember to assess customer support

After finding a suitable platform, you would want to start trading right away, but there is one more step you should take and that is to assess the customer support provided by the broker. This can have a big impact on your trading experience, so it is recommended that you check it out to ensure you can get help when you need and not remain stuck. The customer support at Cryptoneyx is downright impressive because they have added a number of channels to assist their clients.

Their staff is available 24/5 and you can find details of how to contact them on the Contact page on the Cryptoneyx website. They have given an email address, phone number and a contact form that can be used for scheduling a callback. Live chat is also available on the website and you can also go through the FAQs to see if your answer can be found there.

The Final Verdict

This step-by-step assessment of the features and offerings that Cryptoneyx has come up with for facilitating its clients indicate that it can be a good and dependable option for every trader.