Fx-Bittrade Spreads, leverage, minimum deposit Revealed

WikiFX | 2023-01-12 18:01

Abstract：Fx-Bittrade is allegedly a multi-asset broker registered in the United States that claims to provide its clients with various tradable financial instruments with leverage up to 1:100 on the MT4 and MT5 trading platforms via four different account types, as well as 24/7 customer support service.

　　Risk Warning

　　Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

　　General Information & Regulation

Feature	Detail
Regulation	No regulation
Market Instrument	Stocks, Options, ETFs, Futures, Mutual Funds, Forex and Cryptocurrency
Account Type	Standard, Classic, Gold and Premium
Demo Account	yes
Maximum Leverage	1:100
Spread	N/A
Commission	no
Trading Platform	MT4 & MT5
Minimum Deposit	N/A
Deposit & Withdrawal Method	N/A

　　Fx-Bittrade is allegedly a multi-asset broker registered in the United States that claims to provide its clients with various tradable financial instruments with leverage up to 1:100 on the MT4 and MT5 trading platforms via four different account types, as well as 24/7 customer support service. Here is the home page of this brokers official site:

　　As for regulation, it has been verified that Fx-Bittrade currently has no valid regulation. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.10/10. Please be aware of the risk.

　　Note: The screenshot date is January 12, 2023. WikiFX gives dynamic scores, which will update in real time based on the broker's dynamics. So the scores taken at the current time do not represent past and future scores.

　　Market Instruments

　　Fx-Bittrade advertises that it offers access to a wide range of trading instruments in financial markets, including Stocks, Options, ETFs, Futures, Mutual Funds, Forex and Cryptocurrency such as Bitcoin, Litecoin, Ethereum and Bitcoin Cash.

　　Account Types

　　Apart from demo accounts with $3,000-$5,000,000 virtual capital, Fx-Bittrade also claims to offer four types of trading accounts, namely Standard, Classic, Gold and Premium. However, it says nothing about the minimum initial deposit requirement.

　　Leverage

　　The leverage we got on the demo MT4 account is 1:100. However, according to the regulations, British and Australian brokers have to limit their clients to 1:30, while US brokers cant provide more than 1:50. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

　　Commissions

　　Fx-Bittrade says that all charging no commissions.

　　Trading Platform Available

　　The platform available for trading at Fx-Bittrade are the most notable and preferred trading platforms the market offers - MetaTrader4 and MetaTrader5. They are highly praised by traders and brokers alike due to their ease of use and great functionality, offering top-notch charting and flexible customization options. Theyre especially popular for their automated trading bots, a.k.a. Expert Advisors.

　　Customer Support

　　Fx-Bittrade‘s customer support can be reached by telephone: +1 (979) 428-4417, email: Support@fx-bittrade.com, or live chat. However, this broker doesn’t disclose other more direct contact information like the company address that most transparent brokers offer.

　　Pros & Cons

Pros	Cons
• Multiple tradable assets and account types offered	• No regulation
• Demo accounts available	• No information on deposits and withdrawals
• MT4 & MT5 supported

　　Frequently Asked Questions (FAQs)

Q 1:	Is Fx-Bittrade regulated？
A 1:	No. It has been verified that Fx-Bittrade currently has no valid regulation.

Q 2:	At Fx-Bittrade, are there any regional restrictions for traders？
A 2:	Yes. The restriction includes but is not limited to persons residing in Australia, Canada, Hong Kong, Japan, Saudi Arabia, Singapore, the UK, and the countries of the European Union.

Q 3:	Does Fx-Bittrade offer demo accounts？
A 3:	Yes. Fx-Bittrade gives demo accounts with $3,000-$5,000,000 virtual capital.

Q 4:	Does Fx-Bittrade offer the industry-standard MT4 & MT5？
A 4:	Yes. Fx-Bittrade supports MT4 and MT5.

Q 5:	Is Fx-Bittrade a good broker for beginners？
A 5:	No. Fx-Bittrade is not a good choice for beginners. Although it offers demo accounts on the industry-standard MT4 and MT5 trading platforms, it lacks legitimate regulation.