Firstrade vs Coinex: Fees, Security, Features & Which to Choose (2025)

Trying to choose between Firstrade and Coinex This side-by-side comparison reveals total cost (fees + spreads), security & licenses, coins/derivatives, deposits/withdrawals, and app quality. In 2 minutes you’ll see who wins for beginners, active traders, and long-term holders. Clear pros/cons, a quick verdict, and safe links to get started.

Last updated on September 1, 2025

Firstrade

Coinex

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Available Countries

United States

Yes

Europe

Latin America

India

China

Canada

United Kingdom

United States

yes

Europe

yes

Latin America

yes

India

China

Canada

yes

United Kingdom

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Firstrade is ideal if:

Perfect if you value simplicity and self-led growth — Firstrade shines for investors who want a straightforward platform enhanced by rich educational content and intuitive tools like Options Wizard and FirstradeGPT.
Great for cost-conscious traders focused on the US market — It delivers commission-free trading across stocks, ETFs, options, and mutual funds, ideal if you prioritize low ongoing costs and trade U.S. securities.
Not ideal if you need advanced or global asset access — The platform doesn’t offer futures, forex, crypto, IPOs, or international markets, so it's not suited for highly diversified or exotic investment strategies.

Coinex is ideal if:

Privacy-minded traders: you can trade without mandatory KYC up to high limits, offering anonymity while retaining full platform access.
Global assets explorer: the platform supports a wide variety of crypto tokens alongside features like strategic trading (Auto-Invest, Spot Grid), making it great for exploring diverse markets.
Security-focused users: with multi-signature wallets, rigorous cold-storage, and committed proof-of-reserves, your funds benefit from robust protection.

Firstrade isn’t ideal if:

If you seek automated or advisor-led services — Firstrade doesn’t provide AI-driven trading automation, robo-advice, or personalized financial planning options.
If you need access to non-U.S. or exotic markets — It excludes futures, forex, international equities, and advanced asset classes, limiting your global exposure opportunities.
If you prioritize sleek navigation and advanced macroscopic insights — The platform’s layout can feel cluttered, with limited portfolio tracking and broader market analytics visible at a glance.

Coinex isn’t ideal if:

Strictly fiat-only traders: CoinEx doesn’t support direct fiat deposits or withdrawals; you must use third-party gateways if you want to convert between crypto and traditional currencies.
Regulation-focused investors: It lacks licensing from top-tier regulatory bodies, which may concern users seeking exchanges with clear, formal oversight.
Complete beginners seeking hand-holding: Educational resources and customer service can be less responsive or comprehensive, which may not suit those needing more guidance.

Fees & Total Costs

Spot Maker/Take

Firstrade does not operate on a crypto exchange-style maker/taker fee model since it primarily offers commission-free trading for stocks, ETFs, options, and mutual funds; there are no volume-based discounts tied to a native token.

Spot trading fees decrease as your 30-day trading volume, CET balance, or VIP level increases—higher tiers enjoy lower maker and taker rates, with an extra discount if you opt to pay using the native CET token.

Futures/Derivatives

Firstrade does not support trading in futures, options on crypto, or any leveraged derivative contracts, so there are no maker/taker or funding fees in this category.

Futures trading applies different maker and taker fees based on VIP status, and while CoinEx doesn’t charge funding directly, perpetual contracts settle funding between long and short positions every 8 hours (or more frequently under extreme conditions).

Average Spreads on Liquid Pairs

As Firstrade does not currently offer direct spot cryptocurrency trading, there are no applicable spreads for BTC/USDT or ETH/USDT pairs within its platform.

Although CoinEx doesn’t publish spread figures directly, mainstream spot pairs like BTC/USDT and ETH/USDT generally exhibit tight spreads typical of mid-to-high liquidity venues, making execution costs reasonably competitive for active traders.

Fiat Deposits & Withdrawals

Deposits and withdrawals are processed via ACH, wire transfers, and check requests; ACH is typically free and fast (1–2 business days), while wires may have a fee and take 1–3 days depending on the bank.

Methods, Fees, Times

On-chain Withdrawals

Since Firstrade does not facilitate direct on-chain crypto transfers, there are no blockchain network withdrawal fees for BTC, ETH, TRX, or other tokens.

Fixed vs Dynamic Fees (BTC, ETH, TRX, etc.)

Hidden Costs

The main extra cost to be aware of is currency conversion for non-USD accounts; Firstrade does not charge inactivity or expedited account verification fees.

Currency Conversion, Inactivity, Express KYC, etc.

Real-World Cost Example: “€500 BTC

This action cannot be performed directly on Firstrade, as it does not provide native crypto purchasing; acquiring BTC would require an external platform, where costs would depend on that provider’s commission, spread, and withdrawal fee structure.

If you buy €500 worth of BTC on CoinEx, your total cost comprises the third-party gateway’s currency conversion rate plus its service fee, the spread between buy and sell prices, and the dynamic on-chain withdrawal charge—so the final amount received in your wallet will be less than the gross purchase value due to these combined factors.

Crypto Offering & Trading Features

Number of Coins & Pairs

Firstrade offers trading in approximately 38–41 cryptocurrencies, focusing on spot pairs only—there’s no full order book with crypto-to-crypto pairings, just single-asset buys priced in USD on their platform.

CoinEx lists over 800 cryptocurrencies and supports more than 1,200 trading pairs, including its most actively traded tokens ranked among the top 20 by volume, which typically consist of mainstream assets such as BTC, ETH, TRX, and a range of emerging altcoins.

Product Range

Firstrade supports only spot cryptocurrency trading; it does not support margin, perpetuals, futures, options, ETFs on crypto, staking, lending, copy trading, grid bot tools, or automated DCA programs.

The platform offers a comprehensive set of services—including spot, margin, and perpetual futures (linear and inverse contracts), copy trading, crypto loans, one-click swap exchanges, staking, Auto-Invest plans, and Spot Grid bots—offering flexible strategies across investing and automated trading.

Liquidity

Firstrade does not disclose actual 24-hour volume or order book depth data for crypto; trading occurs via their internal system with instant settlement but without traditional exchange-level liquidity metrics.

CoinEx maintains solid liquidity, especially on BTC and ETH markets, reflected by consistently vigorous 24-hour trading volume and deep order-book depth that supports efficient execution even during volatile periods.

Tools

Their crypto offering includes basic order types, real-time quotes, charts, and research features, but lacks advanced tools such as stop/OCO orders, advanced charting, native TradingView integration, alerts, or API/WS access for crypto.

You’ll find a robust toolkit featuring common order types like limit, market, stop-limit, plus advanced modes such as OCO and maker-only, along with real-time alerts, charting, API/WebSocket access, and built-in TradingView integration for sophisticated analysis.

Geographic Restrictions by Product

Crypto trading is available only to users in the United States; there are no crypto markets or services offered outside U.S. jurisdictions.

While CoinEx is globally available in over 200 countries, certain products like derivatives and copy trading may be restricted in jurisdictions such as the U.S., Canada, Hong Kong, and China due to regional regulatory limitations.

Innovation

Firstrade has not rolled out innovation tools like launchpad/launchpool, nor any flexible vs blocked crypto-earned programs—its crypto offerings remain simple and limited to direct spot purchases.

The exchange actively innovates with features such as launchpads/pools, flexible versus locked staking options, and strategic products like Auto-Invest and Spot Grid—providing both passive yield and automated market participation tools.

Security, Regulation & Custody

Operating Entity & Jurisdiction

The crypto service is delivered through Firstrade Crypto LLC, a U.S.-based subsidiary operating under parent company Firstrade Securities Inc., founded in 1985 and headquartered in Flushing, New York.

The exchange began in 2017 and is operated under the ViaBTC ecosystem, with its legal base and main offices located in Hong Kong.

Licenses/Registration

Firstrade Securities operates as a registered broker-dealer under FINRA and the SEC; crypto trading itself is facilitated by Apex Crypto LLC, acting under regulatory standards but without explicit VASP or MiCA licensing.

CoinEx holds registration as a Virtual Asset Service Provider (VASP) in certain jurisdictions such as Estonia and complies with applicable regulations, but it does not currently fall under the EU’s MiCA framework.

Custody

Cryptocurrency custody is handled by Apex Crypto LLC as a third-party provider—not held on Firstrade’s own infrastructure. There’s no publicly shared proof of reserves, audit reports, or stated cold-storage percentages.

CoinEx uses its own custody infrastructure with both hot and cold wallets, enhanced by multi-signature security. It publishes frequent Merkle-tree-based Proof of Reserves—maintaining a 1

Insurance & Protection Funds

While traditional account assets benefit from SIPC and possibly FDIC protections, crypto holdings are not covered under these programs and have no dedicated insurance or extra custodian protection.

The platform supports its risk management with a “Shield Fund,” which redirects around 10% of fees into a reserve designed to buffer against extreme or unexpected market shocks

Incident History

Firstrade hasn’t suffered publicized hacks or major suspensions tied to its crypto platform; however, it recently received FINRA censure and a fine for misleading communications about crypto offerings via an affiliate.

Since its 2017 launch, CoinEx has maintained a clean security record with no known hacks, outages, freezing of accounts, regulatory fines, or major incidents to date

Risk Controls

Firstrade enforces strong security measures including multi-factor authentication, SSL encryption, firewalls, fraud detection systems, phishing education, and a secure security center, but doesn’t highlight features like API permissions or sub-accounts for crypto.

CoinEx implements strong safety protocols, including two-factor authentication (2FA), address whitelisting, anti-phishing measures, support for sub-accounts, and granular API permission controls, designed to minimize unauthorized access and bolster overall platform security.

Transparency

There’s no public monthly reporting or wallet audit data available for crypto holdings. Users rely on Firstrade’s Online Protection Guarantee for unauthorized trades, yet there’s no SLA or public wallet addresses disclosed.

The platform demonstrates transparent practices through monthly reserve updates, publicly verifiable wallets using Merkle trees, and clear communication via announcements—though formal SLA commitments are not prominently outlined.

Deposits, Withdrawals, KYC & Support

Fiat Deposit Methods

Firstrade supports fiat deposits via ACH, wire transfer, check, and transfers from other brokerages; ACH from U.S. bank accounts is fee-free and takes a couple of business days, wires are faster but involve sending-bank fees, and check deposits vary by type and processing, with some available immediately.

CoinEx offers fiat deposits through partnerships with eight external providers like MoonPay, Banxa, Simplex, Mercuryo, Paxful, Guardarian, XanPool, and Advcash, enabling methods such as Visa/MasterCard, Apple Pay, UPI, SEPA, bank transfers, Revolut, and PIX. Minimum and maximum order limits vary by provider, and most transactions are completed within around 30 minutes once initiated.

Supported Fiat Currencies & Conversion

KYC (Verification Levels)

There’s no formal tiered KYC structure; account opening requires ID verification, and once verified, users can access full services—there are no intermediate “basic” or “advanced” levels with differing limits.

CoinEx features progressive verification tiers—from no-KYC to Basic and Advanced levels—with the scope of trading and withdrawal increasing by tier; higher KYC levels unlock significantly elevated withdrawal capacities.

Withdrawals

Withdrawals are available via ACH, check, or wire—ACH (up to $50,000 per day) is free and takes 1–2 business days, checks may take up to two weeks depending on delivery, and wires cost a fee and take several days; crypto token withdrawals (e.g. ERC20/TRC20) are not supported.

Limits, Times & Networks

Customer Support

Support is offered via email and U.S. phone during business hours, complemented by a Help Center with FAQs—there’s no 24/7 live chat, and response times and knowledge base depth are moderate and office-hour dependent.

Users can reach support via a 24/7 live chat, email ticket system, and Help Center with detailed FAQs; tickets are submitted from the website footer and responses prioritize accuracy and clarity. Language support and average response times may vary.

Languages & Localization

The platform and mobile app support English, Simplified Chinese, and Traditional Chinese; the interface displays USD values only, with no localized support for Spanish or Euro-based users—reflecting its U.S.-centric design.

The platform operates with native English and supports multiple other languages; fiat values can be displayed in common currencies like EUR and USD, while localized regulatory info may be limited depending on your country.

App Quality & Stability

The Firstrade app (iOS/Android) is well-rated, noted for intuitive navigation and sync across devices, though some users report occasional crashes; regular updates enhance features and UX, but no official crash-rate metrics are disclosed.

CoinEx provides both iOS and Android apps, featuring a clean, intuitive design and access to core functionality. While official crash-rate metrics are not published, user feedback indicates stability with regular updates to enhance performance and usability.

Experience, Performance & Ecosystem

UX/UI

Firstrade delivers a clean, beginner-friendly interface that helps new users get started quickly, though it doesn’t offer distinct “Lite” or “Pro” modes; advanced traders may find the layout functional but not deeply customizable.

CoinEx offers a clean and intuitive interface with a clear “Beginner” section and more advanced options for experienced traders; while explicit “Lite” or “Pro” modes aren’t labeled, the layout provides a natural progression from simple guides to feature-rich dashboards, making the platform approachable for all skill levels.

Performance

Firstrade offers solid performance under normal conditions, but during high-volatility events, users sometimes note slight delays in order execution; account verification remains swift even during surges, with KYC queues rarely causing major hold-ups.

The platform boasts a high-speed matching engine built to handle order execution with minimal delay, and though official latency metrics aren’t public, user feedback suggests trading remains responsive even during volatility spikes; KYC processing tends to scale adequately, though verification backlogs can surface during market surges.

Education

The platform provides a rich library of written and video educational resources for investing concepts, though it lacks a dedicated simulator or demo trading environment and does not yet offer educational content in Spanish.

CoinEx provides robust learning tools including the CoinEx Academy with security guides, glossaries, and crypto fundamentals, plus a full-featured demo trading mode for risk-free practice; Spanish-speaking users are also supported via official Telegram and localized content.

Community

Firstrade does not operate official community channels like Discord or Telegram. It did run a referral program in the past, but that has been discontinued, and users must rely on formal help centers rather than peer-driven forums.

A strong community is available through official Telegram channels—both English and Spanish—as well as podcast-style livestreams and social media engagement; affiliate and referral programs are integrated too, rewarding users for growing the network.

Integrations

Firstrade recently integrated advanced research tools from Trading Central, but doesn’t support direct TradingView charting, bot trading, or built-in tax/accounting integrations—users rely on manual methods or third-party tools.

CoinEx features native integrations like TradingView for advanced charting, supports Telegram-based trading bots, and its affiliate/referral dashboards assist tracking performance; however, specialized tax or accounting tool integrations are not prominently highlighted at this time.

Who Each One Is Best For

Firstrade shines with investors who value a reliable, easy-to-use platform with educational support and occasional advanced tools—ideal for self-directed U.S. investors prioritizing simplicity over complex trading setups.

The platform suits growth-minded individuals who value a balance of clarity and strategy—newcomers benefit from educational tools and a clean interface, while seasoned traders can leverage demo trading, strategic tools like grid bots, and active community programs to refine their approach.