Being a trader means having to make important decisions each day. However, not many are aware that the first decision of your career may be the most important one. We are of course talking about choosing your first brokerage. This has a big impact on shaping your trading career. If you run into a scam, you are less likely to ever trade again. On the other hand, if you chose a trustworthy and legitimate brokerage that encourages, educates and motivates its traders, then you are far more likely to succeed in this industry. Making this choice can be difficult especially for newcomers, and it is exactly where we step in to help. Today we focus on Trade The Bit. Read our review to find out if this would be the right move for you.
This brokerage was founded fairly recently. Despite this, they managed to get stand out from the competition fairly quickly. Their homepage is certainly alluring, but we doubt that it was the only thing that attracted the trading community. Putting the stylish presentation aside, we noticed that their web presence is very functional. Numerous shortcuts can lead you anywhere you want to go with a single click. Navigating the website is very intuitive even for complete beginners. From here were only continued to be pleasantly surprised by the overall functionality of everything Trade The Bit had to offer. Be sure to stick around until the end to hear about all the highs and all the lows we encountered on our journey.
What Can You Trade With Trade The Bit
One of the first things that we loved about Trade The Bit was its trading platform. This brokerage took a bold move by not licencing some popular solutions such as Meta Trader. Instead, they developed their own platform from the ground up. It is entirely web-based which means it is much more flexible than its competition. Additionally, its lightweight nature enables it to be much more stable and overall perform much better than MT. Not everything is perfect since there isn’t a lot of tools for analysis. We imagine this was a conscious decision to preserve the platform performance. Given how it runs, we feel this was a worthy trade-off.
You can build your portfolio at Trade The Bit with more than 200 tradable assets. These are organized into several categories for easies navigation. These include Stocks, Crypto, Forex, Indices and Commodities. There is even a convenient watchlist tab to easily view those assets that interest you the most. You can easily see each assets’ buy and sell price, and even access additional information with a single click. This user-friendly approach is excellent for new traders because it presents them with all the necessary information without having to leave the platform at all. This immersion is what helps people want to continue trading for longer.
Another key selling point of the Trade The Bit platform is its real-time performance monitor. Here you can view any asset and its current and past performance. You can even interact with it with the help of available tools. By performing these analyses, traders can get a better understanding of the market and then easily spot, or even predict future trends. If you are anything but the most hardcore analyst, you will hardly notice the absence of some advanced tools. Then again, we would choose performance over complexity any day of the week.
Trade The Bit Trading Accounts Offered
Trade The Bit offers a good variety of trading accounts. This is no doubt because they want to attract all types of traders. Not all of us have the same needs, ambitions or budgets, and this brokerage recognizes it and tries to deliver something at every price range. There are four tiers: Basic, Silver, Gold and Platinum. Below is a detailed breakdown of everything they have to offer:
For only €250, this will be the starting point for many traders. You get a respectable deal in return. You get full access to the platform, leverage of up to 100 and a daily market review to keep up to date with the latest market news so that you can make better-informed decisions.
Silver accounts require a minimum deposit of €10,000. The number of perks increases, and it includes a dedicated account manager, bonus funds, improved spreads and leverage, trade room analysis, monthly webinars and much more.
According to Trade The Bit, this is their best seller. When observing it more closely you can see that it offer incredible value for money. You get financial and risk management planning, trade signals, prioritized withdrawal process and similar quality of life perks.
This is the top of the range when it comes to this brokerages’ offering. Everything you get is well worth the asking price, and high volume traders should consider it. You are unlikely to find conditions like these anywhere else.
Trade The Bit Financial Withdrawal and Funding Methods
Funding your account functions pretty much as you would expect it. You can make deposits and withdrawals with your credit and debit cards, or with wire transfers. These methods provide the highest level of security, so there is no reason to worry about your funds. Waiting times for deposits are pretty much instant, while the situation varies when it comes to withdrawals. Depending on a lot of factors, you could end up waiting several hours to several days. In the end, we had no issues and were able to collect all the money from our account without any issue.
Education Resources at Trade The Bit
In addition to offering registered customers plenty of educational content, Trade The Bit has a section on their website called Education centre that provides free education to anyone. The material on offer is mostly intended for beginners. Here you can learn about trading and platform fundamentals with the help of the Glossary, Asset index and the eBooks section. Once you master all of this, you can move on to the content that becomes available once you open an account.
Customer Support at Trade The Bit
Whatever question you might have, Trade The Bit representatives are more than well equipped to handle it. The brokerage offers three ways of reaching customer support: via email, call centre and the Live Chat feature. Our entire trading experience was pretty flawless, but we still pretended to have some issues simply to test if your issues would fall on deaf ears. To our surprise, everything we threw at them got resolved pretty efficiently. Regardless of what channel you prefer, you will still experience first-class customer support.
Is Trade The Bit a Good Trader?
Trade The Bit offers excellent trading conditions to both beginners and industry veterans alike. Their combination of innovation and implementing true and tested solutions combines into one excellent trading experience. If you are on the lookout for a new brokerage, you will not go wrong with Trade The Bit. Be sure to check out our other reviews by clicking here.