If you never heard of Trade The Bit before, you would be forgiven, because this brokerage was established just a year ago. This makes their success even more impressive. For such a small period of time, they have gathered massive attention from the trading community. We wanted to avoid all the hype and make our own conclusions based on our experiences. After trading with Trade The Bit, we have plenty of positive impressions that we want to share with our readers.
Trade The Bit has a very professional appearance. Their homepage does not hold any promises of getting rich quick, but rather conservatively focuses on highlighting some of their key features. There are plenty of shortcuts so that you can get to anywhere you want to go with a single click. This minimalistic, yet the very effective design was present throughout our entire Trade The Bit trading experience. Be sure to read our complete review to find out whether this brokerage has what it takes to satisfy your needs.
Quality of Service
Not all traders have the same ambitions, goals or even budgets. Trade The Bit acknowledges this by offering a diverse offering of trading accounts that aim to satisfy the needs of traders of all levels. There are four tiers, each with a unique price tag and a list of benefits. You can start your journey for as little as €250. The basic account offers a lot for this price. You have full access to the trading platform with more than 200 tradable assets, leverage of up to 100 and a market review that is designed to keep you up to date with all the latest market news. If you are not sure you want to fully commit, then the Basic account is perfect for you to experience the impressive trading platform for yourself.
If you feel slightly more ambitious, you can upgrade to Silver or even the Gold tier. The minimum required deposits are €10,000 and €25,000 respectively. The list of included benefits starts impressively with your own dedicated senior account manager, bonus funds and increased spreads and leverage. Benefits also include educational resources such as risk management and financial planning, webinars and trade room analysis. Trading signals is one of the biggest benefits of the Gold tier. This is a pretty powerful tool that rewards traders with a keen eye.
The Platinum account is the best that Trade The Bit can offer. Despite a hefty asking price of €100,000+, we feel that what you get is enough to justify the price. In addition to best trading conditions, you receive much quality of life improvements such as priory withdrawal, access to lucrative VIP events, private analyst sessions and much more. High volume traders will find plenty to like here, especially given how the completions’ offer is pretty lacking at this price point.
Speed of Response
Believe it or not, whenever we encountered an issue, or simply had a question regarding the platform, our go-to solution was the F.A.Q. page. It Is surprisingly very deep and offers a lot of solutions. If you require human assistance, there are alternatives in the form of email, call centre or even the Live Chat feature. All of these options are equally efficient, so you can choose based on your preference. Live Chat especially caught our eye because it was not operated by a bot, but rather an actual person. In most other brokerages you will just find an AI solution that forwards you to the F.A.Q. page based on keywords in your inquiry. Here, it is completely different. We were amazed how this was useful and was able to get us back to trading in mere minutes. On the other end, if you do not have the time to talk to someone in real-time, writing an email is a good alternative as well given how quickly you get a reply. You can expect something in your inbox within minutes which is excellent.
Speed, stability and security are the three main pillars of Trade The Bit new trading platform. This is made possible thanks to its lightweight nature. It is completely web-based, meaning it can be accessed through any device with an active internet connection. This type of flexibility is unrivalled in this industry. Many brokerages opt to use solutions such as Meta Trader that might feel familiar to traders at first, but those come with a huge set of issues. It is exactly these that Trade The Bit platform addresses and improves upon. We encourage anyone to give it a shot, as we are confident it will feel like an improvement to their current platform.
Seeing the platform for the first time did not impress us. The minimalist look may have been taken too far. But after spending some time with it, we realised we couldn’t have been more wrong with our initial impressions. Navigating the platform is smooth and very intuitive. All the assets are neatly organized by category on the left. Locating the one you need, or endlessly browsing the list of more than 200 assets is effortless. In addition, there is a small preview screen that holds valuable information. Thanks to this you can make quick alterations to your portfolio. On the other hand, if you wish to make further analysis beforehand, you can do so in the real-time performance monitor. Here you can interact with the assets and make use of many tools to help you create a winning trading strategy. The best thing is that no matter how many tools you use, the smooth performance is kept throughout your trading experience. This is probably one of the key selling points that make it stand out.
In the terms and conditions portion of the website, you can easily locate all the fees you might encounter. On closer inspection, you can see that you can avoid most of those by being careful. This is why giving these legal documents a read is always a good idea. Trade The Bit is very transparent with its fees and charges which is very commendable in this day and age.
Currently, there are no financial watchdogs monitoring Trade The Bit. Instead of applying for traditional regulatory body approval, this brokerage invested in the implementation of other key policies that ensure client safety and fund security. These include compliance, AML and KYC policies. If regulation is the only thing that bothers you, there is no reason to be afraid. During our trading, we have not encountered anything that would cause us to worry.
Variety of Payment Methods
Any bank-related payment methods are welcomed at Trade The Bit. If you have an opened bank account, you are set to go. You can use your credit or debit card, or even wire transfer to fund your account. Waiting times for both deposits and withdrawals are on par with the rest of the industry. Do note that withdrawals could take slightly longer depending on your chosen account type.
Trade The Bit is a serious brokerage that managed to carve a name out for itself in a highly competitive industry. If you ever considered trading with it, we have only words of praise. If our experiences are anything to go by, Trade The Bit is quickly on its way to becoming one of the most reputable names in this industry.