GateBits

Note: GateBits's official website: https://gatebits.com/ is currently inaccessible normally.

GateBits is an Australian-based forex broker that was established in 2024. GateBits offers the spreads around 3 pips and flexible leverage ratios ranging from 1:100 to 1:400. However, GateBits operates without regulatory oversight from any reputable financial body.

Pros and Cons

Is GateBits Legit?

GateBits is not regulated and their website is not available.

Leverage

GateBits offers the leverage of 1:100 and spreads of around 3 pips on EUR/USD for the cheapest accounts. The more expensive accounts seem to offer leverage as high as 1:400 and supposedly tighter spreads.

Trading Platform

GateBits claims it offers a web-based platform for their traders. The platform offers a decent charting and analysis package and is generally quite easy to use which would probably be a plus for beginner traders.

Deposit and Withdrawal

GateBits offers the high minimum deposit of $250 and states that any request to deposit has to pass through the customer service of the broker.

Traders would be able to deposit with a credit or debit card, wire transfer, or with Bitcoin.

GateBits offersquite outrageous withdrawal fees – “1% with a minimum withdrawal fee of $30 and the maximum withdrawal fee of $300”.

The inactivity fee is also huge – $99, after just 30 days of no trading activity.