Hubblebit-Overview of Minimum Deposit, Leverage, Spreads

Note: Hubblebit' official website - https://hubblebit.com is currently inaccessible normally.

Hubblebit is an unregulated forex and CFD broker registered in Switzerland, offering trading via a web-based platform. The minimum deposit requirement is extremely high - $2,500.

Pros and Cons

Is Hubblebit Legit?

No, Hubblebit has no regulation. Besides, there is no access to their official website. HubbleBIT claims to be headquartered in Zurich, Switzerland, but no entity named HubbleBIT is listed in the registers of the Swiss Financial Market Supervisory Authority (FINMA).

What Can I Trade on Hubblebit?

Hubblebit offers a variety of trading instruments in financial markets, including CFDs on indices, futures, bonds, forex and cryptocurrencies of Bitcoin, Ethereum, Litecoin and more.

Account Type

HubbleBIT requires an unusually high minimum deposit of $2,500 to open a basic Beginner account. In contrast, most reputable brokers today allow account openings with deposits as low as $1 to $100. Making such a large investment with an entity suspected of being fraudulent is highly ill-advised.

Leverage

The maximum leverage ratio provided by Hubblebit is much higher than most brokers, up to 1:300. While high leverage can amplify potential profits, it also significantly increases the risk of substantial losses.

Spread and Commission

As tested on the demo account of Hubblebit, the spread for the EUR/USD was floating around 3.4-3.6 pips. Also, the broker claims to charge no withdrawal fees, minimal trading fees and swap commission.

Trading Platform

HubbleBIT offers some unproven, overly simplified, web based platform. There is nothing wrong with such less advanced platforms – the problem is that they get boring quickly and you would want to move on to something better and more functional.

Deposit and Withdrawal

Hubblebit only accepts a third party payment provider called Gumballpay, which is yet another clear sign that we are dealing with scammers. Most legit brokers on the other hand accept payments with major credit cards like VISA and Mastercard, as well as popular e-wallets like PayPal, Neteller and Skrill.

The minimum deposit requirement is $2,500.

As for the processing time of withdrawal requests, the broker states that the withdrawal will be processed within 90 business days. And if you want to withdraw funds from an account that has been leveraged, you have to execute a minimum trading volume of (Deposit +Capital Leverage) * 25.