BITFXTRADE Spreads, leverage, minimum deposit Revealed

WikiFX | 2024-12-27 15:40

Abstract：BITFXTRADE presents itself as a company registered in the United Kingdom specializing in both foreign exchange and cryptocurrency trading. It boasts of offering 12% referral commissions and providing a choice of four distinct trading plans. However, this broker is currently operating without any regulations.

　　Note: BITFXTRADE's official website - https://www.bitfxtrade.ltd is currently inaccessible normally.

BITFXTRADE Review Summary
Founded	/
Registered Country/Region	United Kingdom
Regulation	Unregulated
Market Instruments	Forex, Cryptocurrency
Demo Account	❌
Leverage	/
EUR/USD Spread	/
Trading Platform	Web
Min Deposit	$50
Customer Support	Live chat, contact form
	Email: admin@bitfxtrade.ltd
	Physical address: Kemp House, 160 City Road, London, United Kingdom, EC1V 2NX

　　BITFXTRADE presents itself as a company registered in the United Kingdom specializing in both foreign exchange and cryptocurrency trading. It boasts of offering 12% referral commissions and providing a choice of four distinct trading plans. However, this broker is currently operating without any regulations.

Pros and Cons

Pros	Cons
Low minimum deposit	Unavailable website
No deposit/withdrawal fee	No regulation
Live chat support	Limited tradable asset classes
	No demo accounts
	Commissions charged
	No MT4/5
	No reliable platform
	Limited payment options
	Only email support

Is BITFXTRADE Legit?

　　Regarding regulation, it has been confirmed that BITFXTRADE is not subject to any valid regulatory regulations. Please be aware of the risk.

What Can I Trade on BITFXTRADE?

　　As we mentioned previously, the BITFXTRADE website is currently unreachable. The only information we can gather is that BITFXTRADE primarily offers foreign exchange and cryptocurrency exchange investment services.

Tradable Instruments	Supported
Forex	✔
Cryptocurrencies	✔
Commodities	❌
Indices	❌
Stocks	❌
Bonds	❌
Options	❌
ETFs	❌

Trading Plan

　　BITFXTRADE claims to offer plans, namely Plan1, Plan2, Plan3 and Plan4. The minimum initial deposit amount is only $50 for Plan1, while the other three plans have much higher minimum initial capital requirements of $300, $2,000 and $5,000 respectively.

Commission

　　BITFXTRADEs website openly states that the company offersup to 12% referral commissions, which seems like a tactic to lure more people into their potential scam.

Deposit and Withdrawal

　　BITFXTRADE states that it currently accepts deposits and payments in various cryptocurrencies, including PerfectMoney, Bitcoin, Litecoin, Ethereum, Dash, and Dogecoin. The brokerage further indicates plans to incorporate Payeer and Advcas in the second phase of its project.

　　However, it's crucial to note that cryptocurrency payments are non-reversible, posing significant risks, especially considering that BITFXTRADE operates without any regulatory oversight.

　　The minimum initial deposit required is reportedly just $50, while the minimum withdrawal amount for cryptocurrencies is $60. Both deposits and withdrawals are claimed to be instant and free of charge.