Trade the Bit

Note: Since Trade the Bits official site (https://tradethebit.com/) is not accessible while writing this introduction, only a cursory understanding can be obtained from the Internet.

General Information & Regulation

Trade the Bit, a trading name of Trade the Bit ltd, is allegedly a suspicious regulated forex broker that claims to provide its clients with over 200 tradable assets with flexible leverage up to 1:400 on a web-based trading platform, as well as a choice of four different account types.

Market Instruments

Trade the Bit advertises that it offers more than 200 trading instruments in financial markets, including forex, cryptocurrencies, stocks, commodities and indices.

Account Types

There are four live trading accounts offered by Trade the Bit, namely Basic, Silver, Gold and Platinum. Opening a Basic account requires the minimum initial deposit amount of €250+, while the other three account types have much higher minimum initial capital requirements of €10,000+, €25,000+ and €100,000+ respectively.

Leverage

Traders holding different account types can enjoy different maximum leverage ratios. Clients on the Basic account can experience leverage of 1:100, while the Silver, Gold and Platinum accounts can enjoy the maximum leverage of 1:200, 1:300 and 1:400 separately. Bear in mind that leverage can magnify gains as well as losses, inexperienced traders are not advised to use too high leverage.

Trading Platform Available

When it comes to available trading platforms, Trade the Bit gives traders a web-based platform (just as the below screenshot shows). Anyway, we suggest you use MT4 or MT5 as the trading platform. MetaTrader is the most popular forex trading platform, which the traders praise for its stability and trustworthiness. It features sophisticated trading tools such as Expert Advisors, Algo trading, Complex indicators and Strategy tester. Metatrader created a marketplace with currently 10,000+ trading apps the traders can utilize to achieve better results. Both MT4 and MT5 have mobile Apps, trading can be done from anywhere and at any time through the right mobile terminals including iOS and Android devices.

Deposit & Withdrawal

Trade the Bit says to work with credit cards such as VISA and MasterCard, bank transfers, as well as some unspecified e-wallets, but actually, you should contact your account manager to get more about your payment options. The minimum deposit requirement is said to be $/€250, and the minimum withdrawal amount is €100. Also, there is a 1% fee on withdrawals, and the 1% should be more than $30, or the fee will be fixed to $30. As for the processing time of withdrawal requests, the broker states that the average processing time is up to 10 days.

Bonuses

Trade the Bit claims to offer its clients some bonuses. However, from the Terms and Conditions, the required minimum trade volume is 50,000 times the bonus you have been granted.

Customer Support

Trade the Bit‘s customer support can only be reached by email: support@tradethebit.com. Unluckily, we didn’t find other more specific contact information like telephone numbers or the company address on the Internet.