The company was created as a combined effort of financial professionals and experts in web-commerce with the goal of perfecting the online experience for retail traders. There are seriously no advantages you will get from trading with BitXTrade. Plus500 is a FTSE 250 listed brokerage providing online trading services in CFDs, across 2,000+ securities and multiple asset classes.
- You also get market indicators and charting tools to analyze the market trends better.
- In fact, there are many reputed brokers that require you to only deposit $5 to start trading.
- There is usually a link that you can click on the registration form that takes you to the Terms and Conditions page.
- Before you finally register with a new broker, you are asked to go through the Terms and Conditions that broker has put in place.
- Therefore, we can safely say that this broker is unregulated and thus operating outside the law.
Therefore, if you do register with this broker, you are basically agreeing to any conditions that they have placed – without knowing what they are. Before you finally register with a new broker, you are asked to go through the Terms and Conditions that broker has put in place. There is usually a link that you can click on the registration form that takes you to the Terms and Conditions page.
Bitcoin Only Payment Method
Legitimate brokers, on the other hand offer their clients the MT4 trading software, which has a range of features that make trading much less hassle-free and more efficient. You get trading bots so that you can carry out automated https://cryptolisting.org/ trading. You also get market indicators and charting tools to analyze the market trends better. This is a tactic that is adopted by serial scammers who try to rake in as many deposits as they can before the scam is noticed.
BitXTrade – Are Your Funds Safe?
After this, they launch a new domain address and start the process all over again. If you trade with BitXTrade, then the only way you can make deposits and withdrawals is through Bitcoin. While we were doing research about this company’s registration and regulation status, we dug up some even more disturbing information about this broker. At the same time, the company also states that it is incorporated in the UK – and presents us with a certificate to prove it. The broker also provides a registration number from the UK’s official register of businesses, the Companies House.
Extremely High Minimum Deposit
EToro is a multi-asset platform which offers CFD and non CFD products. 74% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money. When we bitxtrade opened a new account with this broker to check the trading conditions and the type of platform, we found out that there was no platform. In its place was a rudimentary dashboard where the only thing you could do was make deposits in Bitcoin.
BitXTrade – Advantages
First, to be able to offer financial services in the UK, a company needs to be registered with the FCA (Financial Conduct Authority). Therefore, we can safely say that this broker is unregulated and thus operating outside the law. BitXTrade offers its clients 4 different types of trading accounts – the Starter Plan, the Premium Plan, the Delux Plan, and the Exclusive Plan.
Trading Platform Not Functional
However, the only piece of information we have about the 4 account types is that minimum deposit requirement for the Starter Plan is $1,000. You are required to make a minimum deposit of $1,000, which is completely ridiculous, since the industry average is just between $100 and $250. In fact, there are many reputed brokers that require you to only deposit $5 to start trading.