FirstBTCFX-Some Important Points about This Broker

General Information & Regulation

FirstBTCFX is a Forex service provider that is allegedly located in the United Kingdom. The company has favorable trading conditions which they offer to traders. However, we do not recommend the Forex brokerage to investors in the market due to the false claims that they showcase on their platform. FirstBTCFX brags that they have excellent customer support services that their traders can utilize. The company promises investors a 100% bonus when they sign up at any of their investment plans. Unfortunately, details regarding the bonus are difficult to comprehend. FirstBTCFX states that if you cash in $5,000, you will get a $ 1,500. Unless the platform has a new method of summing up, that is a 30% bonus and not 100% as they allegedly state on their website. Surprisingly they do not have an FAQ page, and we do not know their terms and conditions. With all these red flags and many more that we will discuss, please do not do any business with them. Invest with only the best Forex brokerage in the industry. The platform targets investors from all over the world. FirstBTCFX claims that they have a demo account that their clients can use. Unfortunately, we did not see that one will be doing our review. You will probably have to register first for you to have access. Due to this, we cannot tell the trading conditions that they have incorporated.

Market Instrument

FirstBTCFX offers several assets to investors, but they do not get into details. First, BTC FX claims you can trade cryptocurrencies, but they do not give an example of the currencies. The have indices trading, but the only one they feature is FTSE 100. The platform offers over 50 currency pairs in Forex. Commodities and shares that you can trade are; Apple, Tesla, Lloyds, Amazon, Nike, and Microsoft. The company should take their time to break down the assets for potential investors to understand and get an insight. Hence, they can choose whatever pleases them.

FirstBTCFX Minimum Deposit

There are four different accounts to choose from should you decide to sign up, each offering slightly different features. We will outline them for you now.

Standard Account: This account has an entry requirement of $500 and does not come with any additional features.

Classic Account: The Classic account requires a minimum deposit of at least $2,500, it comes with the addition of online chat and access to all platform features such as indices.

Gold Account:The gold account increases the minimum deposit amount up to $20,000. The account comes with access to online chat, all platform features such as indices, access and use of Autochartist, SMS signals, a VIP manager and an individual direct telephone line.

Premium Account: This is the top tier account and so requires a minimum deposit of at least $50,000. The account comes with access to online chat, all platform features such as indices, access and use of Autochartist, SMS signals, a VIP manager, an individual direct telephone line, special promotions on one on one training and personal reports of the stock market.

FirstBTCFX Leverage

FirstBTCFX offers a leverage of 1:200 we take that this is the leverage for all their accounts since they have not indicated any other ration. You can select the leverage that when signing up in their platform. We do not know if you can change it in the future. However, First BTC FX does not authorize users to interfere with the leverage that they are receiving.

The minimum deposit required to open up an account is $500 which will allow you to use the Standard account. If you want a higher tier account then you will need to deposit at least $2,500. We do not know if the minimum amount reduces after an account has already been opened.

Trader Security

It is not safe to trade with a Forex broker First BTC FX. It claims to be owned and operated by First Global (UK) Limited and located in the UK

FirstBTCFX Trade Size

The trade size of the company starts at 0.1 lots. The firm does not disclose the open trade maximum number or the trade size maximum amount that the investors have. The company, moreover, does not state if they charge their clients any commission.

Spreads & Commissions

Nonetheless, the platform does charge swap fee for traders who trade overnight. You can check the charges at their MT4 account. First, BTC FX provides insufficient information on their spreads. They only show the spread you will get when you trade EUR/USD, which is 1.6 pips. The firm does not show mention they spread the offer on their other currencies pair.

Trading Platform Available

The company offers the MT4 interface, which the majority of traders love. The platform is worth it for obvious great reasons. The advantages of MT4 are countless; let us highlight them for you. You can automate your trade, numerous chart setups, execute orders, ability to receive multiple order types, navigation window, market watch window, analysis tools, and multiple installed indicators. Moreover, you can access the platform easily using any gadget all you need to have is an internet connection.

Deposit & Withdrawal

The company does not provide adequate data regarding their withdrawal and deposit requirements. They live it for the investors to gather the information themselves. At the footer of their website, however, they have images on the payment method. We take the method available to deposit.

The options include MasterCard, Visa, Neteller, Maestro, and AstroPay. However, this is guesswork since the company itself does not see the need of availing the info. It isnt easy knowing if they impulse any hidden charges to traders.

The withdrawal requirements of First BTC FX is not openly shown. We do not know how long it takes to process your withdrawal, or the method available for cashing out.

Customer Service

The customer service team is available 24 hours a day 5 days a week and close over the weekends and on bank holidays just like the markets do. You can use an email address, phone number or skype to get in contact. If you have an account higher than the lowest tier account then you will also have access to live chat, and the higher tier accounts will have access to an account manager for support.

Address: PARK LANE MAYFAIR London W1K 1QW UNITED KINGDOM

Phone: + 44 ( 0 ) 1923537198

Email: support@firstbtcfx.com

Skype: firstbtcfx.com

Conclusion

It has been verified recently that their official website can not be reach, it shows “ Opps site can not be reach ”. Even though the site shows the menu options, but you cat access each. Therefore Users needs to first verify this Broker before trading .