Choosing a trusted brokerage is one of the most important decisions you will make in the entirety of your trading career. The severity of this choice makes some people wary, and we are here to assist you. Today we present Bitteks, as one of the more prominent brokerages of the last few years. Despite not having a pedigree in this industry, they managed to grab the attention of the trading community. In our review, we sum up our experiences after weeks of trading. Read all about the highs and the lows we encountered.
What Can You Trade With Bitteks
Bitteks offer more than 200 tradable assets. There are several categories to choose from including Forex, Crypto, Stocks, Commodifies and Indices. You can make a pretty diverse portfolio thanks to this offering. You can browse the available assets on Bitteks’ new trading platform which they have developed from the ground up. It is entirely web-based. This might seem like a divisive choice until you actually start trading on it.
Even if you never traded a day in your life, you will find the entire experience to be very intuitive and user-friendly. Say you wanted to buy some apple stocks, you only need to locate the asset search function which is located on the top left and you are set. If you want to further browse some similar assets, simply hit the Stocks category, and you will be presented with a huge list that can be sorted in many ways based on your preference. In total, 6 categories include Forex, Crypto, Stocks Commodities, Indices and a special Watchlist category where you can store up to 50 different assets.
Once you select your favourite asset you can view the sell and buy price as well as the overall change in performance since the last session. In addition, you can perform your own analysis on the real-time performance monitor. It stores each asset’s present and past performance and gives you plenty of tools to work with to create a winning trading strategy.
Bitteks Trading Accounts Offered
Bitteks welcomes all types of traders with different backgrounds. Not all of us have the same budgets, needs and ambitions, so it is important to have a diverse offering that will appeal to a wide range of potential clients. There are four account types on offer – Silver, Gold, Platinum and VIP. There is no Demo account. Even though this has become an industry-wide adopted practice, we still miss it. The good thing is that Bitteks offers a low entry barrier with its Silver account that requires a deposit of only €250. You still receive the full trading experience with full access to the trading platform with more than 200 tradable assets, decent starting leverage of up to 100 and a daily market review to help you make a better-informed decision.
If you want to upgrade your account, you can go for one of the other account types that require minimum deposits of €10,000 and €50,000 for Gold and Platinum tier respectively. They offer plenty more perks that can be summed up in two categories: educational and quality of life improvements. The first focus on improving your trading skills, while the second focus on making the actual trading part more enjoyable with aids like account managers, private analyst sessions, prioritized withdrawal process and much more. Finally, there is the VIP account that is invitational only. Based on everything it offers, it is digitally worth having it. We assume that trading volume is one of the requirements to access it, as there is no official information.
Bitteks Financial Withdrawal and Funding Methods
Funding your trading at Bitteks is easy if you have an opened bank account. You can make deposits and withdrawals with your credit and debit cards, and with a bank wire transfer. These methods are pretty standard in this industry. For the time being, there are no crypto solutions, so you are forced to sticking to banks, which in turn is considered to be much safer. Deposits are instant, while withdrawal times might vary depending on your bank when it comes to waiting times.
Education Resources at Bitteks
For some time now, brokerages have started investing heavily in educational resources. Time has shown that by doing this, brokerages seem more trustworthy, and appear to want to establish long-lasting relationships with their clients. Bitteks is no different on this front. They offer both registered and unregistered clients something to make them better traders. There is plenty of content for beginners and experienced traders alike. While the former is available on the website for free, the latter can be accessed by opening an account at Bitteks.
Beginner-friendly material is divided into several categories. The Glossary, Asset index and the F.A.Q. page serve and an introduction to the terminology of the Forex world. Here you will be introduced to terms you will work with on a daily basis. Once you learn that, you can focus on eBooks. There are plenty of them, varying from beginners strategies to market analysis and much more. These PDFs can be accessed on the website or downloaded for future use. They are written in a way that pretty much anybody can understand.
If you are looking for more advanced learning tools, you will be able to find them once you register and select your account type. Educational resources here are intended for intermediate and advanced traders and they include market reviews, trading signals, risk management and financial planning, webinars, private analyst sessions and much more. Be sure to check what account type you select because not all of these are available to all users. Once you master all the available content, your trading skills will definitely improve, and you will be able to take on much bigger trading challenges across global markets.
Customer Support at Bitteks
Bitteks takes customer support pretty seriously, as it offers plenty of communication channels for its traders. You can reach out to their representatives by writing an email, calling the call centre or by using the Live Chat feature. All of them seem to work pretty smooth, as anytime we had any inquiries, they were resolved in minutes. Waiting times are pretty amazing and best of all, the quality of the reply you get is impressive. The only thing that we didn’t like was that there is no 24/7 support. If you want to talk to someone at Bitteks, be aware the support operating hours are Monday to Friday 03:00 – 12:00 GMT, so that you don’t run into awkward situations.
Is Bitteks a Good Trader?
Bitteks is an excellent and reliable choice for traders of all levels. It has something to offer to a wide array of traders and it is no wonder how they were able to grow in such a short time. If they keep up this pace, they will surely become one of the top brokerages in the entire world. There are some things we would love to see improved (such as 24/7 and multilingual support), but as a whole, Bitteks is one of the better brokerages in 2021.