XBTFX is a cryptocurrency-based CFD and forex broker that was established in the United Kingdom. The service offers direct-to-market multi-asset trading over 200+ instruments with popular trading platforms. In this XBTFX review, we will cover all about
Its pricing structure, leverage, minimum deposit limits, and asset range. So without ado, let’s get started;
A comprehensive review of XBTFX
XBTFX LLC was founded in the year 2019. The startup intends to reduce the gap between cryptocurrencies and forex brokers by improving transparency, usability, and functionality. Cutting-edge technology is paired with industry-proven platforms, low latency connections, and liquidity by the forex broker. The cryptocurrency-based CFD broker now provides over 200 instruments for leverage trading. The company now employs over 20 people across four offices.
● Platform for Trading
MetaTrader 4 (MT4) and MetaTrader 5 (MT5) are the two forex trading platforms available to XBTFX clients (MT5). These are well-known platforms that are suited for both new and experienced investors. However, both terminals can be accessed using all major online browsers or downloadable to desktop, mobile, and tablet devices.
● Apps for mobile devices
Mobile apps of MetaTrader 4 and 5 are both available. These may be freely downloaded and work on both iOS and Android (APK) smartphones. On the go, MetaTrader mobile gives users access to a large amount of the trading capabilities found on desktop platforms, such as analytical tools and configurable charts and graphs.
● Minimum deposits
All account types have a $5 crypto similar minimum deposit requirement. The use of fiat money to fund an account is not permitted. There are ten cryptocurrencies and four stable coins supported. Bitcoin, Ethereum, Ripple, Binance Coin, and Tether are among them. It’s interesting to notice that the broker provides free deposits on all coins. The amount of time it takes for funds to be deposited to a live trading account will differ depending on how quickly the blockchain confirms the transaction.
For XBTFX traders, withdrawal steps are also free. Although processing periods differ, the broker seeks to perform transactions within one business day. Traders who do not complete the know-your-customer (KYC) secure authentication information face restrictions. It contains a $10,000 equivalent digital currency’s daily withdrawal amount.
● Account Demo
Traders can use virtual BTC funds to simulate real-time trading situations. XBTFX provides a free demo account option to both the MT4 and MT5 trading terminals. These are excellent techniques that can help to trade, learn how to use a platform, or try a strategy without losing real money. When you going to start a paper trading account, you should fill an online registration form then you can use demo account easily.
The services given by XBTFX were generally praised in our XBTFX review. The cryptocurrency broker provides industry-leading trading platforms, superior security mechanisms, demo accounts, and easy cryptocurrency deposits and withdrawals. Due to the lack of safety and compensation systems, we would advise care while investing financial assets in these securities, despite the high-security requirements in place.