Rana Adnan | May 14, 2022
Table of Contents
Currency.com is an online financial services provider that offers over 2,000 tokenized assets, such as tokenized commodities, indices, shares, and bonds as well as multiple cryptocurrencies for trading online via the provided trading platform.
Broker Pros / Cons
- 2000+ cryptocurrencies & tokenized assets
- Tight spreads
- Crypto wallets
- Crypto exchange
- A range of trading tools & learning materials
- 24/7 customer support
- Crypto funding
- Trading guides
- Market news
- Market analysis
- Company registered in Gibraltar, St. Vincent and the Grenadines, and the United States (FinCEN)
- Crypto platform
- Mobile trading app
- Negative balance protection
- Minimum $500 deposit
- Limited asset classes
- No MetaTrader or cTrader platforms
- Deposit and withdrawal fee
- Limited regulations
- $20 minimum deposit
- Limited educational resources
- Limited research tools
- Limited trading tools
Registered in Gibraltar, Currency.com is a cryptocurrency exchange that allows you to trade tokenized assets and cryptocurrencies with leverage using a proprietary trading platform. They provide you with some useful trading tools and educational resources, while a 24/7 customer support team is on hand to assist you. There is a leverage of up to 1:500 and negative balance protection.
Currency.com is a legal entity authorized by the Financial Services Commission of Gilbraltar with the registration number: 117543.
Currency.com US LLC is registered with FinCEN.
Currency.com Global LLC is registered in Saint Vincent and the Grenadines.
The Exchange does not offer its services to residents of countries or jurisdictions where the use of such services would be contrary to local laws or regulations. Hence, if you are a country resident where Currency.com does not offer its services, you may find a trading broker with our Compare Brokers tool.
Currency.com provides negative balance protection, which is a good thing. On the other hand, I think the exchange would be more credible if any top-tier regulatory body regulated them.
The Exchange provides you with its proprietary trading platform and a mobile app.
However, there are no other trading platforms such as MetaTrader or cTrader. I think more traders are familiar with MetaTrader and cTrader than any other platform. The reason is that many brokers provide MetaTrader as it’s one of the best trading platforms. If you agree with me and want a broker with MT4 that provides crypto trading, Admirals can be a good option.
The other area that needs improvement is that they don’t have copy trading or social trading. I think many traders and investors are interested in investing and copying profitable trading strategies. If you want to trade cryptocurrencies with social trading, AvaTrade can be a good option.
Currency.com crypto trading platform
It is an easy-to-use platform that is tailored for tokenized assets and cryptocurrencies. The platform is built with advanced technology and features a vast array of useful features and capabilities, including cutting-edge charts, 75 technical indicators, a comprehensive drawing toolkit, and more. The platform is available as a WebTrader that can run directly on most modern web browsers.
Currency.com trading app
With the Currency.com trading app at your fingertips, you’ll never miss a trade opportunity. Everything you need to trade the world’s leading crypto and traditional financial markets is right here. In my experience, mobile trading apps are important for every trader to monitor or change their positions on the go. The mobile trading app is available on Android and iOS devices.
You are provided with a range of useful trading tools to help with your day trading activities. These include APIs, charts, drawing tools, technical indicators, and more.
The Exchange’s website is packed with multiple educational resources such as trading blogs, news, trading guides, video tutorials, and an FAQ section that offers quick responses to clients’ most common questions.
In my opinion, Currency.com has limited educational resources. Webinars, seminars, podcasts, ebooks, and videos are missing. CM Trading can be a good option for you if you are looking for lots of educational resources.
The Exchange offers 2,000+ tokenized assets on commodities, indices, stocks, bonds, and multiple cryptocurrencies such as Bitcoin, Litecoin, Ethereum, and more.
However, options and ETFs aren’t available, which might be a downside for some traders, in my opinion. Saxo Bank has a huge product portfolio if you are looking for a broker with lots of markets.
You are allowed to open a single live trading account. There is also a demo account for practice purposes.
Currency.com also provides a corporate account with a high minimum deposit and a dedicated account manager. However, the exchange does not provide ECN accounts with zero spreads. If you want to trade with zero spreads, IC Markets can be a good option.
The broker offers a 24/7 customer support team that can be contacted through email, Live Chat, and social media. Live chat come in handy in my opinion, if you want to contact customer support and want a fast response.
You can deposit and withdraw funds via any of these payment methods: credit/debit cards, bank wire transfers, electronic payment processors, and cryptocurrencies.
Deposits via bank transfers are free of charge, but there is a 3.5% deposit fee while using debit/credit cards. There is a withdrawal fee of 0.15% for using bank transfers and +3% for withdrawing via debit/credit cards. Crypto deposits are free, but there are certain withdrawal fees for using the crypto funding method.
To open an account, click on the Get Started button on the homepage of the website and fill the account application form, providing all the required information.
What is the Currency.com minimum deposit?
The minimum deposit amount required to start trading at Currency.com is $500.
How do I deposit money into Currency.com?
At Currency.com, traders can fund their accounts using any of the following deposit options: wire transfer, credit/debit cards, Yandex, and cryptocurrency.
What are Currency.com’s deposit fees?
Currency.com charge a deposit commission of 3.5% of the deposit amount when you fund your live trading account with credit/debit cards.
How do I withdraw money from Currency.com?
You can withdraw funds from your Currency.com account through wire transfer, credit/debit cards, Yandex, and cryptocurrency.
What are the Currency.com withdrawal fees?
Currency.com charge withdrawal fees of 3% and 8% for bank transfers, but your issuing bank may charge a commission deductible from your account.
What is the Currency.com commission fee?
Currency.com offers low commission fees, as low as $0.
Are there any Currency.com inactivity fees?
Currency.com does not charge any inactivity fees. This means that Currency.com is unlike other brokers that charge clients with high fees for keeping their accounts inactive for a prolonged period.
What are the Currency.com account types?
Currency.com allows clients to open a single live trading account.
Is there a Currency.com demo account?
Yes, Currency.com provides clients with a demo account that is preloaded with virtual funds to help new clients get acquainted with the broker’s platform before funding their live trading accounts with real money.
What are the Currency.com spreads?
Currency.com have zero spreads on all instruments.
What is Currency.com leverage?
Currency.com have a leverage of up to 1:500 available for clients who qualify.
Do Currency.com allow hedging, scalping, news trading & automated trading?
Yes, Currency.com do not impose any specific restrictions on trading styles. Therefore, all trading strategies and styles are welcome, including automated trading, hedging, and news trading.
Is there a Currency.com Islamic account?
No, Currency.com do not have a swap-free Islamic account since they mainly make money from charging commission fees on clients’ trades. The Islamic accounts are usually designed for Muslim clients who cannot pay commission fees due to their religious beliefs.
What are Currency.com trading instruments?
Currency.com clients can trade and invest in tokenized assets and cryptocurrencies.
How do I open a Currency.com live account?
To open an account, click on the Get Started button on the website’s homepage and fill out the account application form, providing all the required information.
How do I verify my Currency.com account?
You can verify your Currency.com account by providing proof of identification and up-to-date proof of address, no more than six months old.
What is Currency.com’s trading platform?
Currency.com provides traders with a proprietary trading platform. It is an easy-to-use platform that is tailored for tokenized assets and cryptocurrencies. The platform is built with advanced technology and features many useful features and capabilities. Currency.com’s trading platform is available in web and mobile versions.
Where can I download the Currency.com platform?
You can download the Currency.com trading platforms directly from the broker’s website or the relevant iOS and Android app stores.
Where is Currency.com located?
Currency.com is headquartered in Gibraltar
Is Currency.com regulated?
Yes, Currency.com is regulated and authorized by the Financial Services Commission of Gibraltar.
What countries does Currency.com not accept?
Currency.com services are not available in countries where the offer of such products is prohibited or restricted by laws.
Is Currency.com a scam?
No, Currency.com is not a scam. The broker has been since 2019 and is authorized by the Financial Services Commission of Gibraltar
How can I contact Currency.com support?
You can contact the Currency.com support team 24/7 through email, Live Chat, and social media.
|Broker Features||AvaTrade||IG||IC Markets|
|Regulated||ASIC, BVI, CBI, FFAJ, JFSA, FSCA, IIROC, ADGM FRSA||FCA, CFTC, NFA, BaFin, FINMA, ASIC, FMA, MAS, FSA, FSCA, DFSA, JFSA, METI, MAFF||ASIC, CySEC, FSA, SCB|
|Country||Australia, Ireland, South Africa, Japan, British Virgin Islands||Australia, UK, USA, Switzerland, UAE, Singapore, Japan||Australia, Seychelles, Bahamas, Cyprus|
|Min. Deposit||Min $250 Deposit||Min $100 Deposit||Min $200 Deposit|
|Commission||From $0||From $0||From $0|
|Instruments||Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Options, Bonds, CFDs, ETFs||Forex, Commodities, Stocks, Shares, Indices, Cryptocurrencies, Metals, Energies, Options, Bonds, ETFs, CFDs||Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies, Bonds, CFDs|
|Platforms||MetaTrader 4, MetaTrader 5, AvaTradeGO, AvaOptions, AvaSocial, DupliTrade, ZuluTrade, Web, Mobile||MetaTrader 4, IG Platform, IG Progressive Web App, ProRealTime (PRT), L2 Dealer, FIX API, Web, Mobile||MetaTrader 4, MetaTrader 5, cTrader, Web, Mobile|
|Type||Market Maker, STP||STP, ECN, DMA||ECN|
|Funding||Wire Transfer, Credit/Debit Card, Paypal, WebMoney, Neteller, Skrill||Wire Transfer, Credit/Debit Cards, PayPal||Wire Transfer, Credit Card, Debit Card, WebMoney, Neteller, PayPal, Skrill, FasaPay, UnionPay, Qiwi, Bpay, Poli|
|Visit Broker||Visit Broker||Visit Broker||Visit Broker|
Currency.com is an online digital assets exchange that enables you to trade tokenized assets in addition to cryptocurrencies. They provide you with various trading and learning tools. There is also a 24/7 client support team on hand to assist you.
To conclude, Currency.com can be a good option for experienced crypto traders. But they need improvements in certain areas such as versatility of trading platforms, social & copy trading, trading tools, and educational resources.