Coinbull is a cryptocurrency CFD brokerage source that has been in operation for about a year. We’ve tried trading on Coinbull and have done general research throughout the web. Though not formally licensed, Coinbull’s user interface is slick and performs well. The coins they offer are well-chosen, representing some of the most exciting assets in the space. We’ve concluded that Coinbull is a legit way to trade crypto CFDs. If you try it now and sign up for the Blue or Platinum account types, you’ll get a trading bonus and personalized support.
Coinbull Quick Facts
- Overall Score (out of 5 stars): 4 Stars
- Coins Offered: 28 high quality cryptocurrencies
- Minimum Deposit: $275
- Regulation: Unregulated/Unlicensed
- Payment methods: Credit Cards, Wire Transfers (USD, Euro, Bitcoin)
- Main benefits: CFDs are Convenient
- Register now
How We Reviewed Coinbull
When we review a new crypto broker, we try to figure out how it is different than the many other coin brokers in the space. What new value does it offer? How reliable is it as a platform? Coinbull isn’t the perfect exchange, but its CFD model and clean user interface make it an accessible way for people to invest in a wide variety of cryptocurrencies.
We also try to evaluate Coinbull from the user’s perspective. How easy is Coinbull to use? How responsive is its customer service? In most cases, Coinbull doesn’t reinvent the wheel. But that’s not its mission. By sticking to the basics, Coinbull provides and interesting and relevant take on the modern CFD exchange, one which we’ll try to convey to you today.
Coinbull was founded in July 2017, making them a year old at the time of this writing. Coinbull is owned and operated by ABC marketing, located at 8 Copthall, Roseau Valley, 00152, Dominica. ABC marketing is a digital marketing company available online for various affiliate marketing services. ABC’s scope is far wider than Coinbull, so we’re not sure who within the ABC team is in charge of it. Coinbull has 4 user support offers in Zurich, the US, and the UK. Coinbull does not appear to be licensed.
Regulation & Safety
Coinbull does not seem to be regulated. While that might be a red flag to some (and not without reason), this is frequently the case with relatively new startups in the crypto space. Cryptocurrencies have yet to be formally defined by a number of international financial regulators, so even the most well meaning crypto broker could find itself in something of a legal grey area. We expect these instances to diminish as the industry matures over the next few years.
Coinbull’s performance seems solid, and its customer service is definitely responsive. Some customers have reported difficulty withdrawing funds, though Coinbull isn’t ignoring the issue, and these cases seem isolated. The new user will do well to do their own due diligence before entrusting money to a new broker, but at a year old, Coinbull seems to be becoming firmly established in the space.
The trading interface is where Coinbull really shines. It’s hard to find a UI where all actions can be performed on a single screen. Users can see all 20+ coins on offer, and easy trade them without ever leaving that list behind. The charting tools for each asset are sophisticated, and the user can even draw on the graph to perform technical analysis – again, without ever leaving the home trading screen.
CFDs are meant to be a very simple way to invest in any asset, and the fact that Coinbull makes its trading platform easy enough to match makes it a welcome addition to the CFD crypto trading space.
We really like Coinbull’s selection of cryptocurrencies. All of them are high quality projects with active development and community support. There aren’t so many that the Coinbull user will get overwhelmed, nor so few that it gets boring. Coinbull’s crypto selection is savvy. Here are the coins they support:
Cardano ADA, Ark ARK, Bitcoin Cash BCH, Binance Coin BNB, Bancor BNT, Bitcoin BTC, Dash DASH, Eos EOS, Ethereum Classic ETC, Ethereum ETH, Funfair FUN, Gas GAS, Iota IOTA, Komodo KMD, Litecoin LTC, Neo NEO, Nxt NXT, Power Ledger POWR, Quantstamp QSP, Augur REP, Starcoin STR, Stratis STRAT, Tron TRX, Stellar Lumens XLM, Monero XMR, Ripple XRP, Verge XVG, ZCash ZEC, and 0x ZRX.
These coins represent a who’s who of the contemporary crypto space. Coinbull also adds and takes away coins as needed, ensuring that their selection is fresh.
Let’s compare this crypto selection to a couple of other brokers. Take Bittrex with its dozens upon dozens of cryptocurrencies. This endless array of digital assets is dizzying. What’s more, many of Bittrex’s offerings are defunct. Bittrex will occasionally remove a dead coin from its listings, but it can’t seem to keep up with its cacophony of blockchain assets.
On the other hand, compare Coinbull with Coinbase (the exchange for which it is occasionally mistaken). Coinbase is a major crypto gateway with fiat onramps, but it only sells 4 coins (Bitcoin, Bitcoin Cash, Ethereum, and Litecoin). Coinbull accepts fiat payments too, but offers a much wider cross section of the modern markets. Of course, Coinbase is ownership based and Coinbull sells CFDs, but for the customer whose only interest is profit, this won’t really matter that much.
Coinbull doesn’t publish specific fee prices. In their terms and conditions, the company specifies that prices will change, and that the user should be prepared to have their orders priced individually. These prices are determined by market factors.
CFD brokers usually make their money on the “spread”. The spread is a range of prices a little bit above and a little bit below the starting market price of an asset. For the user to make money, 1) they have to correctly anticipate the direction of price change, and 2) the price has to go higher or lower than the spread. Spread costs can be subtracted from the user’s profits pretty simply. Spreads change because of market turbulence and internal broker costs. Coinbull’s non-specific pricing is nothing out of the ordinary.
Coinbull accepts Bitcoin, US Dollars, and EU Euros. You can use credit cards and various credit card systems, as well as bank wire transfers, to make your initial deposit. Coinbull deposits are seamless.
We like that Coinbull keeps payments simple. Rather than offering every payment method under the sun like a LocalBitcoins, Coinbull offers only the basics. However, unlike a broker like Coinbase, Coinbull also accepts Bitcoin payments, making it an attractive broker for established crypto traders.
Accepting both Dollars and Euros allows Coinbull to cast a wide net for new customers. As the company improves and matures, expect to see people to flock to it.
Coinbull gives users plenty of opportunities to contact support. You can chat immediately using the chat window at the bottom of the site. You can also call or email. Support is offered in English, German, and Swiss German. We haven’t found any cases where customer support has not replied to a customer query. As is always the case with user complaints, complaining users on the internet aren’t always satisfied. But in no case was support inaccessible.
If/when the site grows, we can expect more languages to be added. Support based in 2 continents is a good start though.
Like we said, CFD crypto brokers aren’t new. Coinbull just does the job better than most. We love the simplicity of Coinbull’s design. We especially like the charting sophistication than even Green level users can access. For people willing to pay a little more, deposit bonuses, trading signals, and even 24/7 account manager contact. Educational resources are available for all users.
For fans of technical analysis, the multi faceted charting tools will be a boon. While it isn’t a crystal ball, technical analysis can be an incredible way to visualize market trends. Observing these trends critically can help traders anticipate future price actions. The inclusion of this tool makes it look like Coinbull is invested in their customers’ success.
How Does Coinbull Compare to eToro?
It’s inevitable that Coinbull and eToro will be compared. Because we talk about eToro frequently on our site, we thought we’d measure the two CFD brokers against one another.
- First of all, Coinbull and eToro both offer CFDs for cryptocurrencies. While Coinbull offers about 10 more coins than eToro, eToro offers assets outside of the crypto space – a major plus for some traders.
- When it comes to regulation, eToro comes out ahead. The company has simply been around longer, and has been able to become licensed and regulated by a wide variety of regulatory bodies. eToro is available in more than 60 countries as a result. Non-regulation doesn’t sink the ship for Coinbull by any means, and in time we think they’ll become regulated.
- There are more ways to pay with eToro, including Paypal, Neteller, and other options. Coinbull’s deposits are extremely easy though, and there’s an enthusiastic customer service that will help you complete them if you have trouble.
- eToro was founded in 2006, while Coinbull was founded in mid 2017. One being old and the other young doesn’t force any specific conclusion. But some users may feel more comfortable working with an old company (security) or a young company (new ideas, modern design). We’ll let you decide which is better.
- eToro withdrawals seem to go more smoothly than Coinbull withdrawals. As withdrawing profits is the whole point of investing, this should be an important consideration for people on the fence.
- Both brokers have strong user interfaces, but we find Coinbull’s to be more modern, more attractive, and easier to use than eToro’s. This doesn’t mean that eToro’s UI is broken or ugly. Far from it. Instead, Coinbull manages to pull off a major feat by improving upon it even marginally.
Not all of these factors will be of equal importance to every trader. Consider each point critically, and you’ll be able to figure out whether Coinbull or eToro is the better choice for you personally.
How to Sign Up in 5 Quick Steps
- Go to Coinbull.io. Click on the “Account Types” button.
- Choose your plan. Green, Blue, and Platinum plans all have different perks. The basic Green plan is perfectly functional, though users with other plans will have some interesting opportunities and assistance options that the basic users will lack.
- Sign up for your live account. You account should be up and running in just minutes.
- Make your first deposit and start trading. We suggest starting with an asset you know a great deal about.
- Have good luck and make big profits!
Coinbull Pros and Cons
Coinbull isn’t a pitch perfect crypto broker, but it has more strengths than weaknesses.
✓ CFDs are super convenient
✓ Easy to contact customer support
✓ Sleek, modern trading interface
✓ Excellent selection of cryptocurrencies
✓ Occasional difficulties with withdrawal
Conclusion: Is Coinbull a Good Place to Buy Cryptocurrencies?
Only you can decide whether or not Coinbull in the place for you. Not every customer will want to trade with CFDs, as this is not a path to crypto ownership. On the other hand, CFDs will be the most convenient way to invest in cryptocurrency for others. These investors are not concerned with actually possessing their coins – they just want profits. We see the strength of both options.
As for its characteristics as a broker, compared to other brokers, Coinbull has more hits than misses. We like how much they emphasize customer support, and that they are slowly expanding on two continents. We’re huge fans of the trading interface, and amazing that you can do so much on a single screen. Customer complaints seem isolated, and are quickly addressed by Coinbull representatives. Though we’d prefer a company that is regulated, this is no doubt coming in Coinbull’s bright future in the crypto industry.