Coinbase Pro Broker Review

Coinbase Pro is Coinbase’s trading platform for crypto traders of all levels, according to their own description. Founded in June of 2012, Coinbase is a cryptocurrency exchange. They launched GDAX in 2015 and rebranded it to Coinbase Pro in 2018. As Coinbase runs Coinbase Pro, it benefits from the same regulations and safety measures that Coinbase has.

Main Tradable Cryptos

BTC
ETH
BCH
LTC
ETC

Pros

  • Linked to Coinbase
  • High security
  • Accepts U.S. clients
  • Very low fees
  • Regulated in most of the U.S.

Cons

  • No demo account
  • No german clients
  • Support system is shared with Coinbase, so at times it can be slow

Accounts

If you don’t have a Coinbase account, you can sign up here. You can use your Coinbase login for Coinbase Pro.

You can sign up directly through Coinbase Pro, which will then automatically create a Coinbase account.

Traders can transfer their Coinbase wallet balance to Coinbase Pro instantly with no fees. Coinbase Pro will use the same payment methods you have linked to Coinbase.

Coinbase Pro has higher security measures in place, so you will need to go through a verification process.

They will require a phone number and you might be asked to verify your identity as well. If you’ve already provided this information on your Coinbase account, you will not have to do this again.

Unfortunately Coinbase Pro does not offer a demo account.

Cryptocurrency Range

Coinbase Pro offers Bitcoin, Litecoin, Ethereum, Ethereum classic and Bitcoin Cash trading, but does not currently offer margin trading.

Ethereum Classic is a recent addition to the cryptocurrencies available. Coinbase has said on their blog that they are exploring the addition of other assets such as Zcash, Stellar Lumens, Cardano, and more.

In August 2018, Coinbase Pro made a big change to their cryptocurrency pairs. They announced the launch of 4 new GBP crypto pairs. You can find a list of all available pairs by region here as well as a list of supported countries.

This addition really increased the viability of trading cryptocurrencies with Coinbase Pro! All 5 of the available cryptocurrencies can be traded with GBP, EUR, and USD alongside 4 crypto only pairs that you can trade.

Platform

The platform itself shows a lot of information! It has the trade history for the pair you are looking at, price charts, and an order book. Besides that you also get the order form and your wallet balance.

This results in the platform looking a little overwhelming at first glance. However, the design is neat and tidy. It shouldn’t take you too long to get used to.

You can take a look at the trading platform without having to sign up.

Unfortunately, you can’t really customise the platform. There is an option to switch between classic, dark and light, but that’s as far as the customisation goes.

Using Coinbase Pro seems pretty safe: they keep 98% of their coins in cold storage. All digital assets kept in online storage are fully insured.

Your USD funds are FDIC insured, which means that your balance up to $250k is protected. Not only that, but they have regular security checks and financial audits.

Accounts are also protected with two factor authorisation.

Trading itself is pretty straightforward on the platform. You can choose to enter at market price, use a limit order, or use a stop order.

If you’re new to trading, you can check out what each of these different options do here.

Customer Support

Before the change to Coinbase Pro, GDAX shared all of it’s customer support with Coinbase. Now, there is a dedicated FAQ section and they have a seperate phone number that you can call.

This phone number is a U.S. phone number and only available during PST working hours.

You can also contact the support team through submitting a request, but this doesn’t seem to be a separate support team. As such, requests submitted via the form can be slow.

Conclusion

Coinbase Pro is a safe and established platform to use. The fees are low and the platform itself is easy to use. Integration with Coinbase makes using this platform easy as well as trustworthy.

Their recent additions to the cryptocurrencies on offer and the pairing with fiat currencies makes Coinbase Pro a great choice.

Below we have outlined the pros and cons for Coinbase Pro. Have a read through and if you think you’d like to trade with this broker, you can sign up here.

We have other broker reviews available, so if you’d like to check out a few different ones just check the menu on the right.

 

Pros

  • Integration with Coinbase

Cons

  • If you sign up on Coinbase Pro, it will still create a Coinbase account
  • You will need a webcam to take a picture

Pros

  • Sleek design
  • Fast
  • Easy to navigate

Cons

  • Not customisable
  • Can be overwhelming for new traders
  • A bit cluttered
  • If you want to change any settings, it will take you to Coinbase

Pros

  • 98% of coins are kept in cold storage
  • Up to $250,000 insured
  • Regular security checks
  • Regulated in most of the U.S.

Cons

  • Linked to Coinbase so if anything happens to Coinbase, it is highly likely that your Coinbase Pro account will be affected as well
  • No regulation outside of the U.S.

Pros

  • EUR, USD, GBP paired cryptos
  • Crypto only pairs available

Cons

  • Only 5 cryptos offered

Pros

  • FAQ section should cover most queries you might have
  • You can contact support through e-mail and by phone

Cons

  • Support system is shared with Coinbase, so at times it can be slow

This post contains affiliate links which means we might receive a commission when you use this broker. You can check out our disclaimer here.