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Bit-Markets
Rating: Rated with 1.5 stars
Binary Option Programs Award
Min. Deposit
$250
Min. Investment
N/A
Regulated Broker
No

Bit-Markets Broker Review

  1. Bit-Markets

    Bit-Markets is a relatively new CFDs, Forex and Cryptocurrencies broker who went live in July 2017. Bit-Markets is unlicensed since it is not regulated by any major regulator. Moreover, it is owned by Amberfell Today LP which is located at Granton Crescent, Edinburgh in the United Kingdom. South African readers should keep reading the full review below so that they can learn more about this broker and discover if it is to be trusted or not before they make a deposit.

    Special Features

    Bit-Markets offers 4 different account types to its traders according to their needs and preference.

    Silver Account – $250 Min. Deposit

    • Platform Introduction
    • Dedicated Account Manager
    • Demo Account $250
    • Education Session
    • Up To 50% Trading Bonus
    • Up To 5 Risk-Free Trades of $25

    Gold Account – $5,000 Min. Deposit

    • Platform Introduction.
    • Dedicated Account Manager.
    • Dedicated Financial Advisor.
    • $5,000 Demo Account.
    • Up To 75% Trading Bonus.
    • Up To 5 Risk-Free Trades of $250

    Platinum Account – $25,000 Min. Deposit

    • Platform Introduction.
    • Dedicated Account Manager.
    • Dedicated Financial Advisor.
    • $10,000 Demo Account.
    • Up To 100% Trading Bonus.
    • Up To 10 Risk-Free Trades of $1,000

    Diamond Account – $100,000 Min. Deposit

    • Platform Introduction.
    • Dedicated Account Manager.
    • Dedicated Financial Advisor.
    • Dedicated Financial Analyst Team.
    • Up To 100% Trading Bonus.
    • Up To 10 Risk-Free Trades of $2,500

    Trading Software

    There are not many options available when it comes to the trading platform. South African traders can only trade via the only platform available by Bit-Markets. This platform is integrated and fully web-based meaning that traders do not need to download the software on their personal computer. All they have to do is log in via their preferred internet browser and start trading.  It is important to say that when testing their platform, we found a lot of glitches with the software meaning that their trading experience is not that great.

    Support information

    South African traders can try to contact the Bit-Markets’ support team via email or phone. There is a UK number available: +44 2035147436 and an email too: [email protected] Nevertheless, when we tried to contact the support team we didn’t get any reply. Maybe this is just a coincidence or maybe their support isn’t that great at all. A live chat would be good for existing and potential customers who wish to solve any possible issues at the spot and to avoid having to wait for an email reply.

    Payment Methods

    Bit-Markets accepts all major credit and debit cards available such as Visa, MasterCard, and Maestro. However, we couldn’t find a lot of info on their website about the deposit and withdrawal process. Readers should note that before they can withdraw the bonus they need to trade 30 times the initial deposit. A lot of traders do not know this and thus, a lot of complaints are made because of it. Another important fact is that the withdrawal is set to $100 minimum in which case the broker charges a $25 fee. This is 25% which is huge compared to other brokers.

    Verdict

    South African traders who wish to have the best trading experience possible should only trade with regulated and trusted brokers for added security and benefits like a free demo account, low minimum deposit, and great educational material. As a result, avoid trading with Bit-Markets but choose one of the other brokers available instead.

     

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