BITEX TRADER

Note: BITEX TRADER's official website - https://bitextrader.com/ is currently inaccessible normally.

BITEX TRADER, allegedly registered in Germany, is an unregulated forex broker that claims to offer a range of trading instruments including forex, commodities, indices, stocks, and cryptocurrencies. However, the broker's official website is currently inaccessible, and there is a lack of transparency regarding its operations.

Pros and Cons

Is BITEX TRADER Legit?

At present, BITEX TRADER lacks valid regulation. We advise you to look for other regulated brokers.

What Can I Trade on BITEX TRADER?

BITEX TRADER claims to offer forex, commodities, indices, stocks, and cryptocurrencies.

Account Type

There is no info about account types that BITEX TRADER offers. The only thing we know about their accounts is the min deposit requirement: EUR 250.

Fees

BITEX TRADER will charge a fixed maintenance fee of $100 every three months on the account, in case there are funds available. If the funds are less than the amount specified, there will be a notification and in case there is no response from the trader, the broker reserves the right to close or archive the account.

For accounts that are inactive for more than 90 days, BITEX TRADER might close your positions. However, the broker doesn't bother to disclose the specific information on the inactivity fee.

Hedging positions, on the other hand, are subject to an administration fee of 0.1% of the volume of the account and these can be closed after 21 days without further notice to the trader.

Trading Platform

Deposit and Withdrawal

The only real funding method available with BITEX TRADER is through cryptocurrencies of Bitcoin, Ethereum and Litecoin.

The minimum initial deposit requirement is said to be $250.

The minimum withdrawal amount is $50, but there is a fixed commission of $30 per transfer.

The withdrawal processing is said to be 3 within business days, but if the period has passed, a new request must be submitted.