Bitvestment Review – Is it a Scam? – Online Broker
Bitvestment is an online broker that allows users to trade a range of cryptocurrencies, such as Bitcoin, Ethereum, and Litecoin. In this article, we will provide a thorough review of Bitvestment, covering its history, services, fees, security measures, trading platform, account types, customer service, and educational resources. Our aim is to help you determine if Bitvestment is a trustworthy and reliable platform to use for your cryptocurrency trading needs.
Bitvestment was founded in 2018 and is based in the United Kingdom. It is regulated by the Financial Conduct Authority (FCA) and is a member of the Financial Services Compensation Scheme (FSCS). The platform aims to make cryptocurrency trading accessible and easy for beginners and experienced traders alike.
Bitvestment offers a range of services, including the ability to buy, sell, and trade cryptocurrencies, as well as access to margin trading and futures trading. The platform also offers a mobile app, allowing users to trade on the go.
In terms of reputation, Bitvestment has received mixed reviews from users. While some users have praised the platform for its ease of use and customer service, others have criticized it for its high fees and slow withdrawal times. Overall, Bitvestment has a rating of 3.8 out of 5 on Trustpilot.
Bitvestment Fees & Commissions
Bitvestment charges a range of fees and commissions for its services. For buying and selling cryptocurrencies, Bitvestment charges a flat fee of 1%. For trading cryptocurrencies, Bitvestment charges a fee of 0.1% per trade. Margin trading fees range from 0.01% to 0.05% per day, depending on the amount of leverage used.
Compared to other online brokers, Bitvestment's fees are relatively high. However, the platform does not charge any deposit or withdrawal fees, which can be a significant cost-saving for users.
It is important to note that Bitvestment may also charge additional fees, such as network fees for cryptocurrency withdrawals. Users should always check the platform's fee schedule before making any transactions to avoid any unexpected costs.
Bitvestment takes security seriously and has implemented a range of measures to protect user data and funds. The platform uses two-factor authentication (2FA) to secure user accounts, and stores the majority of user funds in cold storage to prevent hacking attempts.
Bitvestment also conducts regular security audits to ensure that its systems are up to date and secure. The platform has not experienced any major security breaches to date, and users can feel confident that their funds are safe on the platform.
Compared to other online brokers, Bitvestment's security measures are on par with industry standards.
Bitvestment Trading Platform
Bitvestment's trading platform is user-friendly and easy to use, making it a good option for beginners. The platform offers a range of trading tools, such as technical analysis indicators and charting tools, to help users make informed trading decisions.
One of the standout features of Bitvestment's trading platform is its social trading functionality. This feature allows users to follow and copy the trades of successful traders on the platform, making it easier for beginners to get started with trading.
Compared to other online brokers, Bitvestment's trading platform is competitive in terms of features and ease of use.
Bitvestment Account Types
Bitvestment offers three different account types: Starter, Trader, and Pro. The Starter account is designed for beginners and has a maximum deposit limit of $500. The Trader account is designed for more experienced traders and has a higher deposit limit of $2,500. The Pro account is designed for professional traders and has no deposit limit.
All three account types offer access to the same range of services, but the Pro account offers lower trading fees and higher leverage.
Compared to other online brokers, Bitvestment's account types are competitive in terms of eligibility requirements and benefits.
Bitvestment Customer Service
Bitvestment offers customer support through a range of channels, including email, live chat, and phone support. The platform's customer service team is available 24/7, and response times are generally good.
Users have praised Bitvestment's customer service for being knowledgeable and helpful. However, some users have reported slow response times during busy periods.
Compared to other online brokers, Bitvestment's customer service is competitive in terms of support channels and quality of support.
Bitvestment Educational Resources
Bitvestment offers a range of educational resources to help users improve their trading skills. The platform offers a knowledge base, video tutorials, and a trading academy, which covers topics such as technical analysis and risk management.
Users have praised Bitvestment's educational resources for being comprehensive and easy to understand. However, some users have reported that the resources are not tailored to their specific needs.
Compared to other online brokers, Bitvestment's educational resources are competitive in terms of range and quality.
Bitvestment Pros and Cons
Here is a summary of the advantages and disadvantages of using Bitvestment:
- User-friendly trading platform
- Social trading functionality
- Range of educational resources
- 24/7 customer support
- High trading fees
- Slow withdrawal times
- Limited range of cryptocurrencies available
Compared to other online brokers, Bitvestment's pros and cons are competitive in some areas, such as customer support and educational resources, but less competitive in others, such as trading fees and range of cryptocurrencies available.
Overall, Bitvestment is a trustworthy and reliable platform for trading cryptocurrencies. While its fees may be higher than some other online brokers, the platform's user-friendly trading platform, social trading functionality, and range of educational resources make it a good option for beginners and experienced traders alike.
Recommendation for users
If you are looking for a user-friendly platform with a range of educational resources and social trading functionality, Bitvestment may be a good option for you. However, if you are looking for a platform with lower trading fees or a wider range of cryptocurrencies, you may want to consider other online brokers.