In effect, this completely alienates the average investor that is looking to start their day trading journey. Verdict on Coinfloor review. All textual content on ForexBrokerz.com is copyrighted and protected under intellectual property law. They have competitive rates in line with the rest of the market. Conclusion. Some issues cannot wait hours, or even days, for an email response. Bitcoin, Ethereum, and Bitcoin Cash: Free. Read our Privacy Policy. Coinfloor has been trading since 2012, and as far as we know, the platform has not been accustomed to any major hacks. Forexbrokerz website uses cookies. We’ve listed the main Coinfloor exchange fees below. On July 2nd, 2015, Coinfloor announced the launch of Coinfloor Market, “the first exchange backed peer to peer bitcoin marketplace”. This can be reduced to 0.10%, but you will need to trade more than 1 million GBP/USD/EUR every 30 days. This is somewhat poor, as crypto trading on the move is now really popular. You’ll then need to upload a copy of your government issued ID. Coinfloor is the biggest Bitcoin exchange in the UK and has serviced the region and the rest of the world safe and securely since 2012. We will tell you about… Coinfloor is a UK based cryptocurrency exchange that allows users to trade crypto-to-fiat. Moreover, they also serve corporate clients, subsequently providing quotes for large Bitcoin purchases or sales. DaxKapital Review: Beware of daxkapital.com! That being said, with the 100% cold storage policy, Coinfloor is one of the safest exchanges around. Coinfloor places a significant emphasis on its UK customer base, with the vast majority of trading pairs listed against GBP. CONSOB scam warning. Coinfloor is a London-based cryptocurrency exchange that was first launched in 2012. We are strictly into trading, mining with lots of investment and assets in paid adverts, Forex also buying signals from big exchanges. Yes. Well, not really, because after having complaint about the automatic Log-Out, and asking them to delete all your data, etc., they will tell you that they will keep All Your Data for a minimum of 5 years. Before you engage in trading foreign exchange, please make yourself acquainted with its specifics and all the risks associated with it. Coinfloor is a UK-based cryptocurrency exchange. Founded in 2012, with a focus on reliability, trust and security, its goal is to provide a safe and easily accessible platform for users to trade and buy Bitcoin. When trying to register an account for the purposes of this review, we were unable to pass the initial verification process. Coinfloor is a Bitcoin-focussed Exchange that provides traders with powerful and intuitive trading platforms. This is really handy if you are using Coinfloor for the first time. When you first register an account and verify your identity, you’ll then be able to make a deposit. And since the chief technology officer along with the founder of CoinFLEX is both from Coinfloor, they both have vast knowledge and experience in keeping the overall exchange platform safe and secure. Effectively, the main selling point of the Coinfloor exchange is that they have good liquidity levels on GBP trading. I'm just thankful for their customer support and account management team. Is Coinfloor safe? If you're looking to profit when the crypto markets go down, you won't be able to do this with Coinfloor. Regardless of where the user is from, Coinfloor requires all traders to verify their identity before depositing funds. There are multiple reasons why we can claim that. Apart from Bitcoin, the only currency that the remaining five cryptocurrencies can be traded against is GBP. This is a highly reputable agency which monitors the financial services sector in Britain, but is yet to take definitive action in the crypto-space. Am very disappointed. While the company is one of the longest-running London-based players in the market there are a lot of user complaints surrounding it. If this is too long for you and you want to get started today, Coinbase offers instant deposits with both debit/credit cards. This covers three fiat currencies, notably GBP, USD, and EUR. Alternatively, you also deposit by Bitcoin, Ethereum, or Bitcoin Cash. FBS is a broker with cool marketing and promotions. Coinflooor only allows users to trade crypto-to-fiat, meaning that there is no option to engage in crypto-to-crypto trading. However, if you’re based in the U.S., then you’re better off using a global exchange like Coinbase, as their fees are much lower and they support more cryptocurrencies. The minimum intial deposit for a Micro account is only $50 and is combined with 1000:1 leverage - one of the highest in the industry. Coinfloor has a specific focus on crypto-to-fiat trading. CoinSpot requires a strict verification process to protect its platform and its users. Add to this the fact that it’s EU-regulated and there’s nothing more you can ask for. Although Coinfloor has fully optimized their mobile website, it’s not as responsive as the main desktop site. Above anything else, this is strange. It’s unclear why they don’t store the funds in the UK, as that is where they are based. Coinfloor is based in London, but given the nature of its service, the company is not under the regulatory zeal of the Financial Conduct Authority (FCA). Coinfloor offers trading (fiat) currencies against a few coins. This is out of reach for the vast majority of everyday investors. The key reasons for this are that Coinfloor lists just six coins, they don’t support debit/credit card payments, and you don’t have the option of going short. Although Coinfloor is a UK-centric cryptocurrency exchange, they are not regulated in the UK. The lowest trading fee you can get is 0.10%, and that’s applied for trades of more than 1,000,000 GBP/USD/EUR per month. If you also use another platform like Binance it's equally important to withdraw your crypto from the exchange and store it somewhere safe. Although Coinfloor services the retail markets, they also facilitate over-the-counter (OTC) trades. Furthermore, you can long and short 15 different cryptocurrencies, with ultra-low fees. Anyone who knows a hacker and is willing to hack these POME crooks to death, please contact me. All in, and for the reasons stated above, we cannot endorse Coinfloor as a notable cryptocurrency exchange.