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GMO Coin FX Review
GMO Coin FX is the leveraged crypto margin trading product from GMO Coin, a Tokyo based exchange under GMO Internet Group. It mainly serves Japan residents.
Min Deposit
N/A
Spreads From
Variable spread rather than a fixed number, main cost is the 0.04 percent daily leverage fee
Max Leverage
Up to 25 times for new orders, following Financial Futures Association of Japan limits
Platforms
GMO Coin web platform, GMO Coin mobile app
Pros
- Backed by GMO Internet Group, a large listed Japanese technology company
- Registered as a Financial Instruments Business Operator in Japan
- Leverage runs up to 25 times for new orders on Bitcoin positions
- No execution fee on the leveraged product itself, only an overnight charge
Cons
- Built mainly for Japan residents, most users outside Japan cannot join
- Only a small group of coins are available for leveraged trading
- Daily overnight fee of 0.04 percent applies to every open position
- Site and support are mostly in Japanese, a barrier for other traders
GMO Coin FX is the leveraged crypto margin trading service run by GMO Coin, Inc., part of Japan's GMO Internet Group. The company started in 2016 under the name GMO Z.com Coin and took its current name in 2017. It is based in Shibuya, Tokyo.
The product lets traders open leveraged long or short positions on Bitcoin and a small group of other coins, including Ethereum, Litecoin, Bitcoin Cash, and XRP, priced in yen. Leverage runs up to 25 times for new orders under rules set by the Financial Futures Association of Japan, and holding a position overnight adds a daily fee of 0.04 percent of its value.
GMO Coin is registered as a Crypto Asset Exchange Business with the Kanto Local Finance Bureau and separately as a Financial Instruments Business Operator, the license that covers this leveraged product. It belongs to the Japan Virtual and Crypto Assets Exchange Association. The service is built for Japan resident clients, and users outside Japan generally cannot open an account.
Max Leverage
Up to 25 times for new orders, following Financial Futures Association of Japan limits
Spreads From
Variable spread rather than a fixed number, main cost is the 0.04 percent daily leverage fee
Platforms
Regulation, fund safety, track record
Spreads, execution, leverage
Platform quality, charting, features
Analysis, webinars, learning materials
Support quality, responsiveness
Mobile app quality, features
