Bitky-Overview of Minimum Deposit, Leverage, Spreads

General Information

Registered in Australia, Bitky is a financial service provider offering a wide range of trading instruments including more than 40 cryptocurrency CFDs to traders. Bitky claims that it offers live date feed, 10/5 customer service, customized analysis, advanced charts as well as a selection of trading accounts.

Market Instruments

With Bitky, traders and investors can get access to more than 1,0000 global trading assets, including forex pairs, stocks, commodities, as well as a range of major indices.

Account Types

Bitky offers five trading accounts to satisfy different traders trading strategies and trading needs, with the minimum initial deposit requirement for each account ranging from $250 to $500, 0000. Each account offers different offerings, and basically, the more account balance you have, the more competitive trading conditions you are offered.

Basic

• Minimum Deposit: $250

• Spreads: Not Specified

• Commissions: Zero Commission for 1 million USD trading volume

• 10/5 Customer support

Bronze

• Minimum Deposit: $5,000

• Spreads: Not Specified

• Commissions: Zero Commission for 1 million USD trading volume

• 10/5 Customer support

Gold

• Minimum Deposit: $50,000

• Spreads: Not Specified

• Commissions: Zero Commission for 1 million USD trading volume

• 10/5 Customer support

Platinum

• Minimum Deposit: $100,000

• Spreads: Not Specified

• Commissions: Zero Commission for 1 million USD trading volume

• 10/5 Customer support

Diamond

• Minimum Deposit: $500,000

• Spreads: Not Specified

• Commissions: Zero Commission for 1 million USD trading volume

• 10/5 Customer support

Leverage

Bitky says that it offers the maximum leverage up to 1:400, which is considered generous and high. Since leverage play a magical role in forex trading, allowing traders to have the chance to magnify their profits with a small sum of capital, forex brokers love to use high leverage to attract new investors. However, leverage can also cause great losses, and inexperienced traders are not advised to use too high leverage.

Spreads & Commissions

Bitky only hypes that it offers traders tight spreads, but it does not specify spreads on particular instruments.

Trading Platform & Tools

When it comes to trading platforms,Bitky seems to offer a proprietary platform, available on Mobile and Desktop devices. There are some trading tools are offered, including Price Alerts, Live Charts, Price Alerts, Trading Signals, and Economic Calendar.

Deposit & Withdrawal

The minimum deposit is $250, and traders can make a deposit into their trading accounts through Credit Cards, Bank Transfer, and some e-payment processors. Deposit doesnt charge any service fee.

Concerning withdrawal, the minimum withdrawal amount is $250 and the withdrawal methods must be same as your deposit methods. Platinum and Black accounts offers their holders one free withdrawal, and after that, a service fee of 3.5% is charged on their withdrawals. If the percentage equals an amount of $30 or below, the trader will be charged a standard $30 withdrawal fee and the maximum service fee for a single withdrawal is capped at $35,000, which is absurdly high.

It takes around 3-5 business days for this broker to process traders withdrawal application.

Customer Service

The Bitky customer support team can be reached through telephone at +31852088542 (NL), +61283105986 (AU), and email: support@bitky.io. Besides, there is also a contact form on its website for you to fill out some basic contact details like your name, email address, trading problems you encounter, then waiting to be connected.

Educational Resources

Bitky offers some limited educational resources, forex glossary for newcomers to learn some basic forex terms, which is good but not surprising.