BITTRADEHOUSE REVIEW

Comments Rating 4.45 (194 reviews)

GENERAL INFORMATION

Broker Name:

BitTradeHouse

Broker Type:

Forex & CFD

Operating since year:

2022

Regulation:

N/A

Address:

N/A

Broker status:

Active

CUSTOMER SERVICE

Phone:

+442038415331

Languages:

German

Availability:

24/7

TRADING

Trading platforms:

Proprietary

Trading platform Time zone:

GMT+1

Demo account:

No

Mobile trading:

Yes

Web-based trading:

Yes

Bonuses:

Yes

Other trading instruments:

Yes

ACCOUNT

Minimum deposit ($):

$250

Maximal leverage:

1:500

Spread:

Floating

Scalping allowed:

Yes

BitTradeHouse Review:

Bittradehouse review

General Info

A freshly founded brokerage company, BitTradeHouse Forex Broker has become a market leader. It has hundreds of pros working for it all around the world. BitTradeHouse is renowned for its various live trading accounts and high-quality trading platforms.

In addition to offering CFDs on many different assets, such as cryptocurrencies, equities, indices, metals, and commodities, the firm primarily acts as a Forex broker. Three distinct account kinds are available to traders, each appropriate for a different trading style, level of capital, and risk tolerance. Additionally, the broker’s trading platform welcomes automated trading and various trading techniques like scalping, hedging, news trading, and expert advisors.

The broker offers numerous promotional campaigns in addition to trading assets and conditions to reward its devoted clients and entice newly registered users. The programs support traders losing money in their trades by offering reward campaigns and performance-based trading competitions. In this BitTradeHouse review, we’ll give a quick rundown of all the main features the broker offers and evaluate the caliber of its brokerage services.

24/7 Customer Support

The fact that BitTradeHouse provides incredibly helpful 24/7 customer assistance is one element that sets it apart from its rivals. Use the live chat feature to ask your query if you feel something is confusing and you need some expert assistance. Since the response is immediate, you won’t feel like the broker isn’t paying enough attention to you.

In addition to all of the appealing features that BitTradeHouse provides, you can find an instructive blog that covers all of the crucial aspects of forex trading. You can find articles explaining, among other things, how CFD trading works and how candlestick patterns function. Additionally, BitTradeHouse offers independent social media channels with weekly market news to assist you in making wise trading choices.

Funds and Security

The safety and security of your money should be one of your top priorities when trading forex. Forex brokers take many steps to preserve the safety and security of their client’s money. BitTradeHouse does this by rigorously adhering to the two agencies’ regulatory framework.

BitTradeHouse possesses a license from CySEC, the country of Cyprus’ primary regulatory body. Cyprus is an EU member; thus, the broker can provide its services throughout the entire region.

CySEC’s regulatory framework requires the Forex broker to impose a 1:30 leverage ceiling on traders. As a result, European traders won’t be able to use the Forex broker’s 1:1000 leverage. BitTradeHouse is a very safe and secure Forex broker, thanks to these two licenses. You can trust them without worrying about protecting your money.

Available Trading Accounts

The website offers silver, gold, and platinum accounts, which are the three primary account categories. A demo account is also available; there are other types for corporate and professional clientele. A demo account allows you to try out their services without risking any of your money before deciding whether you want to trade with them or not. Each category has its own requirements; Platnum accounts, for example, are swap-free, whereas Gold accounts may charge a commission price per side. Different dispersal levels are also possible.

Even though the idea of Islamic Forex trading has been around for a while, few firms offer favorable terms for Muslim traders. However, BitTradeHouse respects the values of every one of its clients and, as a result, chooses how to provide services in a way that best serves each client’s needs. You can access CFD markets whenever you want with a BitTradeHouse Islamic account. The account also supports various trading instruments, such as bonds, shares, ETFs, forex, commodities, etc. The ordinary accounts violate the Riba rules since rollover fees are applied to positions open overnight. Therefore, the broker provides swap-free Islamic accounts for its Muslim clientele.

The first step in opening an Islamic account is to confirm your identification. All necessary legal papers proving your identity, like a passport, identification document, or driver’s license, must be sent. Then, to activate your account, you must fund it. Finally, you can apply for a Sharia-compliant Islamic account. The appropriate department will assess and approve the request in one or two business days.

bittradehouse.com review

Trading Conditions

We decided to give you access to more in-depth trading options offered on the website so that you can decide whether BitTradeHouse is worth your time, money, and attention. Let’s examine each of them individually.

For various types of accounts, BitTradeHouse offers floating spreads starting at 0.2 pips and increasing to 1.2 pips. Spreads are 0.9 and 0.4 pips on popular pairs, including GBP/USD and EUR/USD. We might argue that these are typical by industry standards, and this platform can be viewed as attractive. They get extra points for being so thorough, as this knowledge may be essential for making a choice.

Experienced players can access leverage levels of 1:200. However, due to various limits imposed by ESMA, retail clients can only access maximum leverage of 1:30, as we noted before in our BitTradeHouse review. Although leverage levels are slightly higher than normal for the sector, there is a cautious balance between raising prospective profits without incurring significant losses.

bittradehouse.com

Trading Software

It is hardly surprising that BitTradeHouse has selected WebTrader as its main trading platform. This software is renowned for its first-rate attributes, giving each customer a fairly distinctive trading experience. The most interesting feature of BitTradeHouse is that users can use WebTrader on various devices, and it has a very straightforward user interface to simplify trading. Additionally, you can use this software for various jobs, including stock trading, cryptocurrency CFD trading, forex and CFD trading, and so forth. WebTrader is so well-liked by traders worldwide because there is essentially no slippage or order rejections here.

Using this program and finding your method to trade assets successfully is simple. You will see a menu on the left that lists the currency pairs for Forex, along with their bid prices. At the top are numerous chart buttons that are colored differently. You will have the option to access your trading account, indicators, or expert advisers immediately from the bottom side. The most important element is in the middle, where a chart lists the numbers according to your demands. Here, you can determine whether or not the spread of charts will be helpful to you.

bittradehouse.com screenshot

Trading Instruments

The brokerage firm offers one of the most varied portfolios of financial trading instruments. As a result, BitTradeHouse’s clients have access to a wide range of goods. They can benefit from the adaptability of the trading environment. The broker offers services in six important areas of the financial sector, including Forex, CFDs on Shares, Spot Metals, Cryptocurrencies, Energy, and Indices. Customers can choose between fixed spreads and fluctuating spreads for the Spot Metals and Forex products.

For Forex products, the highest leverage is 1:500; for spot metals, 1:100; for cryptocurrencies, 1:2; for energy goods, 1:10; and for indices, 1:100. The broker levies a commission fee of 0.10% for CFDs on Shares. Trading with cryptocurrencies is also subject to commission fees of 0.1%. On the Forex market, there are more than 60 currency pairs, three spot metal products, more than 50 share CFDs, five of the most widely used cryptocurrencies, two major energy products, and more than ten indices.

Final Verdict

Overall, BitTradeHouse deserves your attention compared to other well-known companies in the sector. The primary benefit of having a real and active license is that you may trade without worrying about money or privacy since you know that if the company does something wrong, another financial regulatory authority will always step in and take the required action. Other trade aspects may also be appealing. Overall, BitTradeHouse’s website is user-friendly, educational, and customer-focused, containing most characteristics one can like while trading.

COMMENTS

64 Comments

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Comments Rating 4.34 (64 reviews)