Trade The Bit Broker Review 2021
There is one thing we have to say from the very beginning. Trade The Bit is a Forex broker that seems to offer outstanding conditions and a promising platform. There are over 200 trading assets, including currency pairs, stocks, etc. and the services are available almost everywhere (outside of The United States, Cuba, Democratic People’s Republic of Korea (North Korea), Iran and Syria).
According to their words, what clients get is excellent support and flexibility. The website itself is full of information that is useful to traders. The design is good and it doesn’t slow down the loading speed at all. So, someone did an excellent job here. Everything that you could need is located in the main menu and you can easily switch between Trading Platform, Accounts, Education, etc.
This is exactly what made us look more and see if Trade The Bit offers high-quality service, or if the first impression is wrong. So, let’s not waste any more time and see what you can expect from this broker.
Tradable Assets at Trade The Bit
The Tradable Asset list is long here, that’s the first thing we have to emphasize. As we already said, there are more than 200 of them and you can choose the complete list no matter the account. This is an excellent option because there are brokers who will give you the possibility to trade with each asset only if you open higher accounts.
Trade The Bit is nothing like that and it doesn’t matter what level of experience you have, you will still have the possibility to trade each class that is available (Forex, Commodities, Crypto, Stocks, and Indices).
Trade The Bit Trading Platform Features
We all know that the most common solution in the trading world is MetaTrader. Well, with Trade The Bit you won’t have an option to use MT4, but you will have a much better, web-based option that works great.
The first thing you should know is that the platform that is offered doesn’t require any downloads. It’s not an app, you simply need to visit the website and that’s it. You can do that using a computer, mobile phone or a tablet. It doesn’t matter at all, because it will work without interruptions either way.
This is a simple platform and you don’t need previous experience to trade here. Trust us, we managed to navigate through it easily, without any assistance. So, it’s completely user-friendly. There are three main parts and the first one has every feature that is connected with your account. Deposit, withdrawal, account statement, all of that is located on the left side of the screen and you won’t have to leave the page if you need something like that.
The middle part is for tradable assets, you can choose the category you want and arrange everything according to daily change or the name. Lastly, there is a chart that will appear once you select the asset. It has all trading tools and it will show sell rate, current price indicators, etc. The chart is fully customisable and if you don’t like some of the details, you can edit them according to your taste.
Account Types Offered at Trade The Bit
Since we already realised that Trade The Bit offers a great platform, it’s time to see if the trading conditions are equally good. They should be since we read some comments from their clients, who are really satisfied with the offer, but we will see that once we go through everything.
There are five different accounts, and the first one is Basic. You can already tell by the name this account offers the most simple things such as market review, leverage up to 1:100 and the possibility to trade with every asset. This may not be enough for everyone, but if you do not have experience, the Basic account is a great introduction to the Forex world, since it requires a deposit of just 250 EUR.
After the Basic one, there is a Silver account with a higher deposit requirement of 10,000 EUR. Of course, the higher the deposit, the better possibilities and that’s why you will get a dedicated senior account manager, bonus funds, Gold spreads, leverage up to 1:200, trade room analysis tier 3, financial planning, risk management planning, special venture promotions, monthly webinars and prioritized withdrawal level three. As you can see, this list is long and if you go with the Silver account, you will have great conditions.
Gold and Platinum are the highest accounts this broker offers. For Gold one, you have to deposit 25,000 EUR and for Platinum, the deposit requirement is 100,000 EUR. Withdrawals are prioritized (Level one for Platinum and Level two for Gold account), webinars are weekly with the Gold account and with the Platinum one you have full access, without any limits. There are private analyst sessions and access to VIP events.
It’s more than clear why people are satisfied with this offer. Trade The Bit made sure to provide accounts for everyone, so even if you are not so easily impressed, we are certain you will find something suitable here.
Withdrawal and Deposit Methods at Trade The Bit
As a deposit and withdrawal method, you have three options — Credit Card, Bank Wire or Bitcoin Transfers. Since there are no fees, you can choose the one that fits you the most, just keep in mind that you need to select the same method when you are withdrawing funds. Each deposit is instant, so you don’t have to wait for the money to appear on your account but withdrawals do take some time.
It’s not a lot of time, seven to ten business days and that’s just because Trade The Bit implemented all security steps. You need to go through the Identity Verification process before each withdrawal is approved, and that slows down everything for a bit.
Of course, if you chose Gold or Platinum accounts, you won’t wait ten days since you have prioritized withdrawals. So, keep that in mind too. Fees are very low with this broker, which surprises us the most. There is a withdrawal fee of 1% (with the minimum of 30 USD/GBP/EUR and the maximum of 300 USD/GBP/EUR) and that’s it, everything is transparent and you won’t have to pay unexpected commissions.
Is the Trade The Bit Team Helpful?
Customer support is our favourite part of a review. Most brokers fail here and that’s why we get extra excited when we find the one who offers proper support. If you need help at Trade The Bit, you can use a phone number, Live Chat, online form or email.
No matter the method, someone will reply to you in a very short period of time. We tested the email option and got a reply the same day. It contained all details and instructions, so not only were they responsive but knowledgeable as well.
Shall I Trade with Trade The Bit?
Our final impression is quite good. Trade The Bit provided everything that you could need for a good trading, you can count on excellent education and constant support. So, there is nothing more to add except to conclude that you should trade with Trade The Bit.