Spot, derivatives and separate account functions
Sections ↑CoinW offers spot trading and perpetual futures through its web and app services, with separate copying, Earn and automation products described below. The permitted service and account function need to be assessed individually.[1]
The legal statement identifies COINW, a private company incorporated in the Union of Comoros, as the issuer of CoinW Exchange’s policies.[2]
Availability01
Service structure
| Service | Documented operation |
|---|---|
| Spot | Orders exchange a base asset against a quote asset. The API distinguishes base-asset quantity from quote-asset spending and accepts market or limit instructions. A submitted order remains separate from a completed trade.Source 29 |
| Perpetual futures | The order interface covers USDT and USDC contracts, cross and isolated margin, and market, limit and trigger orders. Order size can be specified in quote currency, base currency or number of contracts; the selected unit changes the economic exposure.Source 40 |
| Futures copy trading | Smart Ratio allocates capital in proportion to a lead trader; Classic lets the follower set margin per trade. The guide caps the allocation to one trader at 5,000 USDT, including profits, with the leader able to set a lower range.Source 22 |
| Smart Money | This separate service follows on-chain address activity, while ordinary futures copying follows listed platform traders. CoinW advertises no profit share for Smart Money; that statement does not remove trading costs or make the two copying contracts interchangeable.Source 25 |
| Fixed-term Earn | Subscribing locks digital assets for the selected term. The April 2026 guide lists terms such as 7, 21, 30 and 90 days; those funds cannot trade or withdraw while locked. A quoted APR is a product parameter, not a bank-deposit guarantee.Source 21 |
Specifications02
Order size, execution and liquidation
| Control | Practical consequence |
|---|---|
| Spot limits | Instrument metadata supplies minimum/maximum base quantity, quote notional, price bounds, price precision and quantity precision. These values belong to each pair. A 5-USDT sample in the documentation is an example, not a verified minimum for every current market.Source 30 |
| Order reconciliation | The spot API requires a unique external order reference of up to 50 permitted characters and returns an exchange order number. Preserve both references when reconciling a request after a connection problem. The placement limit is 30 requests per two seconds per user ID.Source 29 |
| Futures acknowledgement | An order ID means the request was accepted, not filled. A trigger order can return a null openId while appearing in Open Orders. Check order/position information before treating an uncertain response as permission to submit the same exposure again.Source 40 |
| Margin tiers | Isolated tiers are calculated per position; cross-margin tiers are per trading pair. Position limits are expressed in contracts, and maintenance calculations use mark price. The applicable tier and collateral mode therefore matter alongside the chosen leverage.Source 33 |
| Liquidation | The published process triggers at a margin ratio of 100% or below and can reduce positions in stages. Cross margin can consume the futures account’s available margin and affect other positions; isolated margin limits the affected position’s allocated collateral. The bankruptcy reference price is not the chart price.Source 32 |
Trading fees and ongoing position costs
Sections ↑Pricing & charges03
Published charges
| Item | Basis and scope |
|---|---|
| Spot base rate | 0.1% maker and 0.1% taker on the current fee page. Maker/taker status concerns whether the execution supplies or removes resting liquidity.Source 4 |
| Futures base rate | 0.02% maker and 0.06% taker on the current fee page. That page also says futures VIP upgrades are not currently supported; a spot VIP discount should not be transferred automatically to futures.Source 4 |
| Executed quantity | The spot calculation guide charges only filled amounts, including partial fills; unfilled orders incur no trading fee. It links a separate VIP route for possible spot reductions.Source 5 |
| Perpetual funding | Funding transfers value between long and short traders according to position notional × the rate. Positive rates make longs pay shorts; negative rates reverse the direction. Under the July 2025 update, hitting a rate boundary can change an eight- or four-hour cycle to hourly settlement.Source 6 |
| Crypto transfer fees | CoinW describes no receiving deposit fee. On withdrawal, the displayed asset/network fee is deducted from the sent amount. The live amount controls; this profile does not assert a universal withdrawal tariff.Source 7 |
| P2P payment costs | The marketplace advertises no CoinW P2P service charge, but third-party payment costs can apply. Merchant exchange quotes also determine the amount received; zero platform commission is not the entire conversion cost.Source 39 |
At the base rates, two separate spot fills of 10,000 USDT each cost 20 USDT in total. A 10,000-USDT futures execution costs 2 USDT as maker or 6 USDT as taker. These calculations use executed notional, not the margin deposited, and exclude funding, spread, slippage, price changes and transfer costs.[4]
Payment routes and withdrawable balances
Sections ↑Transfer terms04
Moving assets in and out
| Route | Process and boundary |
|---|---|
| P2P fiat purchase / sale | Quotes come from merchants. In the described purchase flow, CoinW escrows the seller’s crypto, the buyer pays using the stated payment details, and release follows the seller’s confirmation. Access requires verification, a linked phone, nickname and payment method in the verified customer’s own name.Source 39 |
| Small crypto deposit | A deposit below the asset’s published minimum is not credited automatically. Only certain tokens support recovery, and assisted recovery can cost extra. A zero receiving fee does not make every tiny incoming transfer usable.Source 7 |
| External withdrawal | First move the asset into the Funding account. Select the asset, matching network, destination and any required memo/tag. The web guide uses a saved address; the app also accepts direct entry or an address-book selection. Once approved, the request cannot be recalled.Source 8 |
| Internal CoinW transfer | The published web/app route uses a CoinW UID, phone number or email and is free without blockchain confirmation. Where the recipient is verified, identity information is displayed for checking. An incorrect recipient can still leave assets unrecoverable.Source 9 |
Process05
Why a balance may not be ready to leave
| Restriction | Documented treatment |
|---|---|
| C2C purchase protection | The T+1 guide restricts withdrawal of the equivalent purchased amount for 24 hours from order completion; other balances and trading are distinguished. It also reserves longer restrictions for risk-control cases. This is not a promise that every review must finish in one day.Source 10 |
| Published KYC limits | The individual FAQ quotes daily limits of 10 BTC equivalent after primary verification and 100 BTC equivalent after advanced verification. It describes a rolling period linked to the last withdrawal. Account checks, supported routes and other holds remain separate from those ceilings.Source 11 |
| Investigation / payment dispute | Unverified source of funds, failed payments, judicial requests or suspected abuse can freeze some or all functions. Support may require identity and funds evidence. The review FAQ gives no fixed completion guarantee.Source 13 |
| Mega Coupon principal | The voucher itself cannot be withdrawn. It can offset specified futures costs, and sub-100% ratios require the customer’s own funds. Issuance to Rewards Hub is distinct from claiming a usable futures balance; profit availability does not convert coupon face value into cash.Source 34 |
| Occupied and expiring coupons | The March 2026 FAQ distinguishes available coupons from amounts occupied by positions. Used portions can remain valid until those positions close, whereas unused isolated-margin coupons expire. Moving personal funds can change usable coupon amounts; the coupon display is not an external-withdrawal balance.Source 35 |
Wallet control, reserves and the liability boundary
Sections ↑Protections & eligibility06
Asset arrangements and their limits
| Layer | What the inspected material establishes |
|---|---|
| Operational control | CoinW describes layered hot/cold wallets, offline hardware key controls and multi-signature or threshold arrangements. It also describes authentication, withdrawal whitelists and manual review of unusual activity. These are company security descriptions, not independently tested guarantees of recovery.Source 18 |
| Contractual custody disclaimer | Section 22 of the user agreement disclaims acting as custodian and associated custodial responsibilities. That clause must be read alongside operational wallet control; it does not establish that the user personally controls the exchange wallet’s private keys.Source 3 |
| Reserve evidence | The PoR page explains Merkle inclusion checks and a USDT reserve-ratio calculation. Its extracted public fields did not supply a populated snapshot date, root or ratio. No numeric current reserve conclusion was verified for this profile. Inclusion evidence alone is not a full financial audit.Source 19 |
| Futures insurance fund | This platform buffer covers liquidation shortfalls and receives platform contributions and liquidation surpluses. The guide settles movements daily. It is not a named customer insurance policy against exchange insolvency, and no per-client insured payout or independently verified current aggregate was established.Source 20 |
| Earn redemption / renewal | The fixed-term guide describes T+N+1 maturity processing. Auto-Subscribe renews the principal when enabled; with it disabled, principal and earnings return to the Earn account at maturity. The product display and agreement should resolve the guide’s separate statement about daily interest distribution.Source 21 |
Verification and regional acceptance
Sections ↑The legal statement’s restricted list includes the United States, United Kingdom, Canada, mainland China, Hong Kong, Japan, Singapore, Malaysia and the United Arab Emirates, among many other locations. This is a selected list, not an exhaustive eligibility map. The full statement and account verification govern admission.[2]
The user agreement requires age 18 or the applicable legal age and legal capacity.[3]
The verification FAQ requires an accepted government identity document and can require recent address evidence in the same name. It limits identity reuse across verified accounts and allows additional manual checks. API-key creation at C0, described separately in developer documentation, should not be interpreted as a general exemption from withdrawal or product verification.[11][27]
Security recovery, exports and complaints
Sections ↑Process07
Account access and record preservation
| Situation | Route and limits |
|---|---|
| Authenticator lost or removed | Web and app support removal using two available security factors, with a Security Option Unavailable recovery route. Successful removal logs the user out and triggers a 24-hour wait for withdrawals or USDT sales. That security delay is distinct from a C2C or compliance hold.Source 12 |
| Dormant account | Twelve months without login may trigger dormant classification, restricted functions and later closure under the agreement. Remaining assets can require verification for release. This is a dormant-status rule; the inspected clause does not quantify an inactivity fee.Source 3 |
| Voluntary deletion | The June 2026 guide places deletion in the app’s Security Center and expressly excludes web deletion. The app checks three displayed conditions. An account with prior deposits or verification records requires support rather than the described immediate empty-account process.Source 16 |
| Funding records | Deposit and withdrawal export is documented on the website, not the app: select Funding Account and the relevant record/date filters in Statement Center. The guide does not establish a universal file format, retention period or tax calculation.Source 14 |
| Futures records | Use the web Account Statement export, choose Futures Account and a custom period, then download the generated record. This separate account selection matters when reconciling trading and funding histories.Source 15 |
Support and recovery entry points
CoinW Help CenterWebsite
https://www.coinw.com/help-centerSource 17
Scope Chat and self-service routes for security factors, missing deposits, risk-control release and inheritance applications.
Frozen-account review instructionsWebsite
https://www.coinw.com/help-center/faq/account-and-security/2025-08-13/why-was-my-account-frozen-and-how-to-unfreeze-it/6345Source 13
Scope Use the official support route to identify the restriction and required evidence; no fixed review deadline is promised.
Hong Kong residual-balance procedureWebsite
https://www.coinw.com/help-center/announcement-center/more/2026-07-30/termination-of-coinw-services-in-hongkong/7975Source 37
Scope For accounts covered by the dated regional termination; verification precedes a limited withdrawal-access period.
The agreement first calls for good-faith negotiation of disputes, then HKIAC arbitration in Hong Kong, in English, before one arbitrator. This contractual forum is separate from a regulator complaint or compensation scheme. No universal final-response deadline was established.[3]
Corporate identity and regional regulatory scope
Sections ↑COINW’s stated Comoros incorporation identifies the issuer of the legal statement. It does not itself establish a financial-services authorisation, a worldwide exchange licence or investor-compensation membership. No regulator-backed permission has been added to this profile on that basis.[2]
Securities Commission Malaysia added CoinW to its unauthorised-entity Investor Alert List in its 17 October 2024 announcement. That is dated Malaysian regulatory evidence, not a finding about every jurisdiction or a judicial fraud determination.[38]
Reported scale and service exits
Sections ↑CoinW says it was founded in 2017 and serves more than 20 million registered users on the company page checked on 20 October 2026. Registration totals are company-reported and do not establish daily active traders or funded accounts. The page also markets aggregate daily turnover, but provides no independently audited reconciliation of that figure across spot and derivatives.[1]
Regional comparison08
Regional termination notices
| Region | Dated instructions and remaining-balance process |
|---|---|
| United States | The 8 May 2026 notice says affected users lose login access after 30 June. A residual-balance request goes through the notice’s official support route; after approval, the account receives a four-hour withdrawal window before freezing again. This is a recovery route, not new US account availability.Source 36 |
| Hong Kong | The 30 July notice scheduled closure of verified Hong Kong users’ futures positions on 14 August and login termination after 31 August. It requires non-Hong-Kong address evidence for affected users claiming a different residence. Remaining funds follow verification and a four-hour temporary withdrawal window.Source 37 |
- Operator
- COINW, a Comoros private limited company identified in the legal statement
- Exchange model
- Centralised
- Service scope
- Spot and perpetual markets, conditional Earn and separate copy/automation products.
- Client types
- Retail clients
- Pricing publication
- Public and quoted pricing
- Pricing scope
- Published base spot and futures rates; live asset fees, funding and conflicting copy profit-share references require product-specific checks.
- Funding scope
- Supported crypto networks, internal CoinW transfers and verified P2P counterparties; security, purchase and review holds apply.
- Custody and asset handling
- Exchange-controlled wallets are described operationally; the user agreement disclaims custodial responsibility. No verified current numeric reserve ratio.
- Client eligibility
- Extensive restricted-country list and product-specific verification. US and Hong Kong termination notices provide residual-balance procedures.
- Support
- Official Help Center chat and self-service processes; funding/futures exports use the website and deletion uses the app.
- Authorisation and registration scope
- Comoros incorporation is a company identification claim, not a verified worldwide permission. Malaysia’s SC published an alert addition in October 2024.
Exchange metadata checked 20 Oct 2026Source 1Source 2Source 3Source 18Source 19Source 17Source 4Source 38
Covered contracting entities
COINW
- Jurisdiction
- Union of Comoros
- Covered services
- Issuer of the CoinW Exchange legal statement.
- Client and location scope
- Location restrictions and individual verification apply; no regulator permission inferred.
Copying, API control and AI analysis
Sections ↑Process09
Copy settings and exit ambiguity
| Issue | Established behaviour or limitation |
|---|---|
| Slippage and allocation | Copy setup allows opening-slippage limits and optional trade/subaccount stop-loss or maximum-position controls. Orders can fail when the allowed slippage is too tight. Matching a leader’s settings does not ensure identical fills or results.Source 22 |
| Unfollowing and existing positions | The English help agreement says existing copied positions remain after unfollowing. A separate confirmation page, rendered in Chinese despite its English URL parameter, says cancellation automatically closes copied orders. These public instructions conflict; the actual accepted contract and live exit confirmation need checking before assuming either outcome.Source 23Source 24 |
| Profit-share basis | The English help agreement states 12% of net profit, while the separate confirmation uses the trader’s specified ratio. No universal current percentage is asserted here. Manual closing does not by itself remove the documented profit-share obligation.Source 23Source 24 |
Specifications10
Automation authority and continuity
| Component | Current documentation |
|---|---|
| API privileges | New keys start with read-only access. Trading capability requires 2FA, and withdrawal permission requires an IP whitelist. The secret remains visible for one hour at creation. A key’s permissions, not its label, define whether it can read, trade or transfer funds.Source 27 |
| Aggregate request limits | Spot limits combine 100 requests/second/IP and 300/second/user. Futures public market-data groups allow 30/second/IP; other futures groups allow 100/second/user. Endpoint limits apply additionally, so aggregate allowances cannot be used as a budget for every individual endpoint.Source 28 |
| Rate-limit escalation | Repeated excess can halve interface allowances during a five-minute warning, then cause temporary bans and ultimately an eight-hour block. Implement backoff and follow the documented error route; continually resubmitting requests can make account control less available.Source 28 |
| Copied-position boundary | The API error guide says OpenAPI cannot operate positions generated by copy trading. A user’s own-order API access therefore does not supply a general exit mechanism for all positions shown in the interface. Use the relevant product controls for those positions.Source 31 |
| Funding settlement pause | Futures placement documentation says transaction actions, including closing positions, are unavailable during the funding process. It describes roughly 30–40 seconds and recommends waiting at least one minute before retrying. This short settlement instruction is not a recovery guarantee for a wider outage.Source 40 |
| AI Trading Toolbox | Web and app provide Similar Candles and AI Trend Prediction within futures charts. Outputs can change as market data or refreshes change, and some assets/timeframes lack enough history. The guide describes analytical references, not autonomous order authority or guaranteed forecasts; the user remains responsible for trading decisions.Source 26 |
Sources & further reading
- About CoinW: company and scale CoinW · Accessed 20 Oct 2026
- Legal statement and restricted countries CoinW · 11 Feb 2026 · Accessed 20 Oct 2026
- User agreement CoinW · 15 Apr 2020 · Accessed 20 Oct 2026
- Current trading fee page CoinW · Accessed 20 Oct 2026
- Spot fee calculation CoinW · 16 Aug 2025 · Accessed 20 Oct 2026
- Perpetual funding settlement frequency CoinW · 31 Jul 2025 · Accessed 20 Oct 2026
- Deposit and withdrawal fee instructions CoinW · 14 Aug 2025 · Accessed 20 Oct 2026
- Crypto withdrawal instructions CoinW · 15 Aug 2025 · Accessed 20 Oct 2026
- Internal transfers to CoinW accounts CoinW · 21 Aug 2025 · Accessed 20 Oct 2026
- T+1 restriction after a C2C purchase CoinW · 14 Aug 2025 · Accessed 20 Oct 2026
- Individual verification FAQ CoinW · 14 Aug 2025 · Accessed 20 Oct 2026
- Removing Google Authenticator CoinW · 13 Aug 2025 · Accessed 20 Oct 2026
- Frozen accounts and review CoinW · 13 Aug 2025 · Accessed 20 Oct 2026
- Funding-account record exports CoinW · 14 Aug 2025 · Accessed 20 Oct 2026
- Futures-account record exports CoinW · 14 Aug 2025 · Accessed 20 Oct 2026
- Account deletion CoinW · 22 Jun 2026 · Accessed 20 Oct 2026
- CoinW Help Center and self-service routes CoinW · Accessed 20 Oct 2026
- Security and protection CoinW · Accessed 20 Oct 2026
- Proof of Reserves and verification methods CoinW · Accessed 20 Oct 2026
- Futures insurance fund CoinW · 14 Aug 2025 · Accessed 20 Oct 2026
- Fixed-term Earn guide CoinW · 17 Apr 2026 · Accessed 20 Oct 2026
- Futures copy-trading setup CoinW · 14 Aug 2025 · Accessed 20 Oct 2026
- Copy trader and follower agreement CoinW · 22 Jul 2022 · Accessed 20 Oct 2026
- Copy-trading confirmation terms CoinW · Accessed 20 Oct 2026
- Smart Money and futures copy trading compared CoinW · 24 Apr 2026 · Accessed 20 Oct 2026
- AI Trading Toolbox guide CoinW · 19 Aug 2026 · Accessed 20 Oct 2026
- API key creation and permissions CoinW · Accessed 20 Oct 2026
- API precautions and frequency limits CoinW · Accessed 20 Oct 2026
- Spot order specification CoinW · Accessed 20 Oct 2026
- Spot instrument information CoinW · Accessed 20 Oct 2026
- API errors and unsupported position control CoinW · Accessed 20 Oct 2026
- Futures liquidation process CoinW · 14 Aug 2025 · Accessed 20 Oct 2026
- Maintenance margin tiers CoinW · 12 Jun 2026 · Accessed 20 Oct 2026
- Mega Coupon purpose and principal restrictions CoinW · 18 Sep 2023 · Accessed 20 Oct 2026
- Mega Coupon availability and expiry FAQ CoinW · 19 Mar 2026 · Accessed 20 Oct 2026
- US service termination and residual balances CoinW · 8 May 2026 · Accessed 20 Oct 2026
- Hong Kong service termination and residual balances CoinW · 30 Jul 2026 · Accessed 20 Oct 2026
- Investor Alert List addition: CoinW Securities Commission Malaysia · 17 Oct 2024 · Accessed 20 Oct 2026
- P2P marketplace operation, verification and fees CoinW · Accessed 20 Oct 2026
- Futures order specification and settlement pauses CoinW · Accessed 20 Oct 2026
This profile reports dated public information, including exchange-published services and terms. It does not independently test or guarantee trading, custody, pricing or withdrawals. Inclusion is not an endorsement. Permissions and protections apply only to the named legal entity, service and client category; check the current official records and your contract.
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