Coincall Review 2025: Fees, Pros, Cons, & Safety

Full Coincall Review

Product Offering	Options, perpetual futures, & spot trading
Options Offering	European options for 17+ assets
Deposits	Crypto only
Availability	Not available in the US, Canada, China, and several other regions
Options Fees	0.3% maker, 0.08% taker (BTC, ETH) 0.2% maker, 0.06% taker (altcoins)

What Is Coincall?

Coincall is a centralized crypto exchange focusing on options contracts. It was created by a team of experienced professionals from reputable institutions including JPMorgan and top crypto exchanges. 

The platform aims to provide a reliable and user-friendly environment for investors of all experience levels. Despite options typically being an advanced trading tool, Coincall does a great job at providing a beginner-friendly experience, making it a great place for starting out.

Coincall provides options contracts for a wide range of assets and time-frames, as well as spot and perpetual futures markets. This covers bases for various strategies that use a range of trading products – usually only available for BTC and ETH.

How Does Coincall Work?

Getting started with trading on Coincall is pretty straightforward: Sign up with an email address, deposit a supported cryptocurrency, and start trading. 

Options trading on Coincall requires USDT, which you can easily get by selling supported tokens on their spot markets. Their options contracts are “European” style – you get the right (but not the obligation) to buy or sell an asset at a predetermined price, on a specific expiry date.

These options contracts can be bought individually, or combined with other products for more advanced strategies.

Coincall Key Features

Coincall focuses on options contracts, including a wide range of supported assets and option combinations. Not only that, but it also offers spot markets, futures trading, and more.

• Options Trading: Coincall offers European options contracts on 17+ tokens, settled in USDT. Users can trade calls and puts in their choice of a simple or advanced user interface.
• Combo Options: The platform supports option combinations like straddles, strangles, butterflies, iron condors, and spreads for more complex trades.
• Futures Trading: Users can trade perpetual futures contracts on various assets, with up to 125x leverage.
• Spot Trading: For traditional trading, Coincall provides spot markets for a wide range of assets including Layer 1, Layer 2, Meme, PoW, and AI tokens.
• Earn Function: The exchange’s Simple Earn feature lets users earn daily interest on idle crypto, with simple deposits and withdrawals. Coincall uses these assets for lending and margin trading to generate returns.
• Educational Resources: The platform contains a bunch of educational materials to help beginners understand options and futures trading, giving them a boost on their journey.
• 24/7 Customer Support: Coincall offers round-the-clock customer support via email and Telegram, with rapid response times.
• Mobile App: The Coincall app is available on both iOS and Android, providing easy mobile access.

Coincall Fees

Coincall’s fees run on a maker-taker model, where users get charged differently depending on whether they are supplying or taking liquidity from the order book. It’s also slightly cheaper to trade altcoin options, versus BTC or ETH options.

Here’s a breakdown:

	Maker Fee	Taker Fee
Options (BTC & ETH)	0.03%	0.08%
Altcoin Options	0.02%	0.06%
Futures	0.025%	0.06%
Spot Trading	0.1%	0.1%

A delivery fee also applies whenever an option is exercised. Essentially, if you don’t sell your options contracts before their expiry, you’ll need to pay a small fee to redeem them for any profits. 

This is free for daily contracts and 0.015% for anything longer. The fee is calculated based on the settlement price when the order is completed and capped at 12.5% of the option’s value (note that the option’s value and its price are different things).

Our Expert Review Of Coincall Exchange

For this first-hand review of Coincall, I’m going to:

1. Set up an account
2. Fund it with ETH
3. Try out its features, with a focus on options.

Signing Up & Making a Deposit

Signing up to Coincall was super quick and easy. All I needed was an email, a password, and inputting my country of residence for the lowest KYC level.

You won’t need to formally verify your identity unless you want to withdraw more than 50,000 USDT daily or 200,000 USDT monthly, or create sub-accounts.

This is also a good time to relay that the platform doesn’t accept sign-ups from residents of the US, Canada, or China – sorry guys!

Upon signing up, I was directed straight to the deposit page to fund my account. 

Deposits into Coincall are crypto-only, with at least 30 major tokens accepted. USDT is the only token accepted for trading options contracts, but you can easily deposit a supported token and sell it for USDT on Coincall’s spot markets. 

I deposited a small amount of ETH to get going, which was credited to my account within 20 minutes. 

Coincall User Interface

Coincall’s user interface looks familiar, using the industry standard of TradingView charts, depth chart, and order box on the right, and a dark theme option for us night-time degens. 

Several languages are available for the UI, which makes it easy for almost anyone to use: English, Spanish, French, Italian, German, Russian, Portuguese, Turkish, Japanese, and Traditional Chinese.

I tried out the spot market to immediately convert my ETH to USDT for options trading, which was nice and simple. Order types are limited to limit, market, and post-only orders – you won’t find any advanced order types like stop-limit orders or trailing stops here.

The spot markets had surprisingly decent liquidity, doing very well for an options-focused exchange.

Trading Options

The options user interface, as expected, is where things get interesting! This includes two vastly different trading interfaces: “Lite” and “Pro”. 

Lite Interface

The Lite UI is perfect for beginners, featuring a clean and simple layout that’s easy to navigate.

This lays out only the most important information traders need to know, such as the strike price, breakeven price, leverage, and the asking price. 

Less essential details are tucked away in a drop-down box so that users don’t get overwhelmed. 

The Lite interface also comes with a handy visualization chart on the right, which shows your expected return for different price points at the expiry date of the contract you’ve selected.

Pro Interface

On the other hand, we have the Pro UI, which caters to advanced traders. This provides a high level of detail usually seen on options exchanges. In Pro, you’ll find all of the information found in the Lite UI, plus additional data such as bid/ask prices and sizes, implied volatility, open interest on the contract, and much more. 

This can look quite overwhelming to options newbies but is super helpful for advanced traders to evaluate various details at a glance.

Placing an Options Order

The market seemed overly optimistic when I tried Coincall, so I decided to buy a put option with expectations that the ETH market might cool down.

A put option is a contract giving you the right (but not the obligation) to sell the underlying asset at a predetermined price, at a certain date. Since Coincall options are European-style options, I can exercise the deal on the expiry date only.

I noticed there’s a minimum contract purchase size of 0.1 contracts, which could be restrictive for smaller traders – especially on more expensive contracts.

This is what the option order process looked like, using the Lite UI:

• In the lower panel:
  • Select Buy or Bell.
  • Select Call (right to buy) or Put (right to sell).
  • Select the expiry date.
  • Click on the row that represents the strike price you would like to trade.
• Then, in the order box:
  • Enter the price at which you wish to buy/sell the contract.
  • Enter the amount you wish to buy/sell.
  • Submit the order.

For my put option order, I’m betting that ETH will fall below the strike price of $3200 by August 30th – about 6 weeks from now. I make money if ETH drops below that price. If it doesn’t, my put option ends up “out of the money”, and I lose the money I paid for it. 

One cool benefit of options contracts is that you can’t get liquidated. The put option might expire worthless, but I’m safe even if the price spikes significantly and comes back down. 

Now that I have my position open, it’s viewable in the lower section of the interface – this part’s the same regardless of whether you use the Lite or Pro UI. 

This position info is complete with details on the contract symbol, size of the position, entry price, mark price, unrealized profit, stop-loss price, and more.

Note: For less popular contracts, the order books can be somewhat thin. Consider the liquidity of each market you’re trading, especially if you’re using size.

Combo Options Trades

If you want to try a more complex options strategy, you can use the Combo Trade feature. This enables traders to quickly put together straddles, strangles, butterflies, iron condors, and spreads.

Coincall helps you easily visualize the strategy you’re building, along with a graphical representation of the payoffs. In this case, I constructed a strangle – a combination of a call and put with two different strike prices, that profits from volatility. 

It was easy to set up, visualize, and submit, without the guesswork of buying each contract individually. 

Futures Markets

Although they’re not Coincall’s primary focus, the platform’s perpetual futures markets had great volume and liquidity overall. The handful of markets that had low volume showed that large limit orders may not get filled, but they still had plenty of order book depth to absorb market orders.

There’s a massive range of 124+ different assets available for perpetual futures trading, as well as two non-liquidation futures markets for BTC and ETH.

Simple Earn

Coincall’s Simple Earn feature is a little underwhelming in its current form, due to offering only USDT at the time of writing. The returns are decent, however, and competitive with those offered by other exchanges. There’s no hard-cap on deposits made by individual users into Simple Earn, but there is a limit on total deposits.

There’s a handy “expected daily profit” calculation in the preview box, which spells out exactly what you should be earning if you deposit a certain amount of USDT.

Two options are available: a flexible T+0 deposit with no waiting time for withdrawals, and a T+7 deposit with a higher yield, but a one-week waiting period for withdrawals. 

Note that with the T+7 option, you stop earning interest as soon as you request a withdrawal, so you won’t earn interest during the 7-day waiting period.

$CALL Token

The CALL token is Coincall’s native cryptocurrency, based on the Solana blockchain. It plays a central role in the Coincall ecosystem and can be used to pay for trading fees on the exchange. CALL holders don’t get a share of platform revenue or fees, but may benefit from increased popularity of the exchange.

The biggest plans for the token are still yet to be delivered, as Coincall plans to launch a cross-chain DEX supporting Solana and Ethereum Layer 2 networks. CALL is intended to be used for the governance of this network. It’ll also provide benefits like trading fee discounts, VIP privileges, and participation in staking and mining pools. 

Coincall plans to perform regular buybacks and burns of CALL tokens, to manage the supply and support the token’s value.

Customer Service

When it comes to customer support, Coincall’s help center is highly useful and answers common questions in plenty of detail. This section also contains a ton of learning material, which looked quite handy – especially for learning how to use options.

When it comes to getting help for a more specific problem, you’ll need to submit a support ticket, which will be responded to via email. You can do this by clicking “Submit a request” in the top-right corner and filling out the contact form.

Alternatively, you can head directly to their Telegram channel, which contains an active help section. I tried both solutions and got an answer to both of my requests within a literal minute – I was quite impressed, to say the least! 

Who’s Coincall For?

• Experienced Traders: Coincall’s Pro interface has advanced tools and all the details you could need, perfect for seasoned traders looking to maximize returns with competitive fees and diverse assets.
• New Options Traders: Beginners will find Coincall’s Lite interface and educational resources easy to use, helping them learn options and futures trading without feeling overwhelmed.
• Options and Futures Traders: Coincall’s features are great for those looking to hedge risks or speculate on market movements with easy options and futures trading.

Who’s it Not For?

• US and Canadian Residents: Coincall isn’t available to traders in the United States and Canada because of regulatory rules.
• Large Spot Traders: Although Coincall has spot markets, these are smaller than major CEXes. If you’re looking to spot trade with size, you might be better off with a larger spot exchange.

Coincall Alternatives

Coincall vs Deribit

Deribit is a popular platform for European-style crypto options and futures trading, mainly for BTC and ETH. They have similar fees for options, but Coincall offers a much wider range of contracts and underlying assets. Deribit focuses solely on BTC, ETH, MATIC, SOL, and XRP. 

Coincall offers a “Lite” mode for beginners, while Deribit is designed purely for advanced traders. Options on Coincall are funded with USDT only, while Deribit uses BTC, ETH, and USDC.

Neither platform allows US traders. 

	Coincall	Deribit
Options fees	0.3% maker, 0.08% taker (BTC, ETH) 0.2% maker, 0.06% taker (altcoins)	0.03% maker & taker
Asset selection	17+ Assets including BTC, ETH, SOL, DOGE.	BTC, ETH, MATIC, SOL, XRP
Interface	“Lite” mode for newbies	Advanced only
US traders?	No	No
Options funded with	USDT	BTC, ETH, USDC.

Coincall vs Binance

Binance and Coincall both offer European-style crypto options, however, Binance is more focused on spot and futures trading, which it leads the market in. Coincall has similar fees to Binance’s flat 0.03% fee for options, beating it only on altcoin options maker orders. 

Binance focuses on BTC, ETH, BNB, XRP, and DOGE, while Coincall supports options for 17+ assets. Both platforms have an optional beginner-friendly interface, and fund their options contracts with USDT. One distinct difference is that Coincall enables users to sell options without buying them first, whereas Binance does not.

Once again, neither platform allows traders from the US.

	Coincall	Binance
Options fees	0.3% maker, 0.08% taker (BTC, ETH) 0.2% maker, 0.06% taker (altcoins)	0.03% maker & taker
Asset selection	17+ Assets including BTC, ETH, SOL, DOGE.	BTC, ETH, BNB, XRP, DOGE
Interface options	“Lite” mode for newbies, “Pro” for advanced traders	“Easy options” and regular
US traders?	No	No
Options funded with	USDT	USDT
Sell options without buying?	Yes	No

Is Coincall Safe to Use?

While no platform can guarantee complete safety, Coincall does plenty to keep users secure. Still, in any case, users need to do their own research and stay cautious.

Team Background

Coincall was founded by seasoned traders with experience at top exchanges and financial institutions including Binance, JP Morgan, Optiver, UBS, and more. 

The team has also successfully managed a crypto trading desk with over $300 million in assets under management. Overall, it has a very strong track record, ranking #1 globally on Binance’s profit and loss leaderboard in 2020 and 2021.

Led by CEO Jimmy Zhong, Coincall has a team with extensive expertise in market-making, trading, and finance, giving it a strong foundation in the exchange world.

Security Measures

Coincall uses a few important security measures to keep your funds and data safe:

Two-Factor Authentication (2FA): A typical crypto exchange feature, users can confirm logins and transactions with an extra verification step for added security.

Third-party Custody: All user funds are managed by well-known third-party custodians Copper, Cobo, and Clearloop. This greatly reduces the risk of internal theft.

Cold Storage: Most assets are kept offline in cold storage, protecting them from online attacks.

Final Thoughts on Coincall

Coincall is a great platform for crypto options trading, offering a user-friendly interface and a wide selection of assets. Its competitive fees and advanced trading features cater to both beginners and experienced traders. 

However, its limited availability in some countries and the need for a basic understanding of options trading strategies make it cater to a more specific set of users. 

Overall, Coincall provides a solid option for those looking to trade crypto options and futures, even if users are new to the concept.

Frequently Asked Questions