Bitonext is a U.K based trading broker that extends its services in high volatile trading assets like crypto, forex, indices, shares, and commodities. The broker was established in 2022 and provides trading services worldwide except few exceptions like the U.S and South Korea. Bitonext offers a wide range of trading instruments, and the number is expected to grow further in the future. The broker offers free deposits and withdrawals, yet the minimum deposit requirement stands at $250. The broker is not a regulated company as the process is underway, and they are waiting for a regulation license that will be approved soon.
Bitonext offers a proprietary web trading platform to its traders. The platform seems super friendly and easy to use. We practically examine and find that opening an account is quite easy and hardly takes a minute.
The broker lacks a mobile trading platform and desktop platform. Third-party platforms like MetaTrader 4 and cTrader are not there. This is not a matter of concern since the proprietary platform is well-enough to meet all trader’s requirements.
Bitonext offers immediate access to the Web Trading platform. All you need is an internet connection to get started. Before opening an account, you submit basic credentials such as your name, email address, and phone number. A screen appears on your computer, allowing you to observe currency market conditions instantly.
The web trading platform includes a plethora of drawing tools that aid in creating and implementing trading strategies. There are about 82 indicators that help make trading decisions. The famous trading indicators like the accumulation swing index, average directional index, and Bollinger bands are there.
For chart patterns, there are enough options for traders to go with like there are:
- Hollow Candles
- Heikin Ashi
to customize your charts
If you are used to some other styles and colors, there is good news that Bitonext helps you in modifying the background and candlestick styles as per your priority. There are options like:
- Time zones/Sessions
Are there to help you visualize the charts in different styles.
Here are some of the key features of Bitonext Web Trader:
Various Trade Execution Modes: You can enjoy instant market executions with the web trader. There are five main markets to trade-in all through this platform. On top of that, you can implement five order types at once and implement your strategy to grow your trading account.
One-Click Easy Operations: You need an easy way to execute your operation in a trading platform if you are a beginner. It is frustrating to search for every order type and execute it from different navigational menus. Keeping in view, Bitonext designed a trading platform where you can enjoy one-click operations. So, opening and closing orders, placing stops and entry limits, setting direct orders, placing and editing limits, and stop-loss.
Analytical Tool Kit: The broker offers more than 30 technical built-in indicators to design trading strategies and easily carry out trading operations. The technical indicators include famous Fibonacci indicators and moving averages.
History to Keep Record: You can’t be a prudent trader until you learn from your past experiences. Bitonext strongly believes in this theory and thus brings you the order history and trading decisions you made in your past. This helps improve the trading decisions in the future and the maintenance of records.
Wide Range of Financial Instruments: With the Bitonext Web trading platform, you can access over 200+ international markets. So you will be able to diversify your trading portfolio with thousands of tradable assets.
Simple and Customizable Interface: The user-friendly interface makes it straightforward to retrieve the components necessary for each trade transaction.
Compatibility: Bitonext web trader is compatible with all web browsers, including Opera, Google Chrome, Safari, Firefox, etc. You do not need to download and install web trader or any other trading software on your computer. All you want is a reliable Internet connection. Logging into your trading account and starting trading takes simply a few clicks.
Many consumers delegate major decisions to others via a personal broker like Bitonext, a pension fund, or a bank savings account. Every trader you copy on social trading has a public profile that you may investigate. Trader profiles and expert analyses on Bitonext are rich with information that may be used to make informed decisions. When you decide to become a social trader, you give yourself access to the most comprehensive source of information and support available anywhere, and the Bitonext platform is designed to make the most of it.
Bitonext thus provides the social trading opportunity through its web trading platform, where you can copy the trades of the top traders in the industry. There is a tab named “Masters” on the web platform where the popular traders are listed. You can add your favorite traders and follow their trading activities. This way, you will be trading while not using your brain in fact.
If your emotions dominate you after opening a certain position, no problem, Bitonext presents you an automated trading facility. Automated trading is a form of trading in financial markets that executes a program that follows pre-programmed strategies for entering and exiting trades. As the trader, you will combine extensive technical analysis with establishing parameters for your positions, such as orders to open, trailing stops, and guaranteed stops.
Auto trading allows you to execute several trades in a short period while also removing emotion from your trading decisions. This is because all of the trade rules are already embedded into the parameters you select. You may also utilize your pre-determined strategies to observe trends and trade accordingly with certain algorithms.
Personal Account Manager
Bitonext provides the facility of personal account manager where you can share your burden and minimize your on-time.
There are many reasons to have a personal account manager for your financial trading account. People trade their accounts because they want to see how their trading ideas perform. Many traders believe they can outperform professionals who have devoted their lives to their job. Some people mistakenly believe that they can transfer their current work or life success to the financial markets without putting in the years of research and lessons learned.
The second reason people desire to trade their accounts is that they watch some people transform a small sum of money, say $10,000, into a much greater sum of money in a very short period. Anyone interested in gaining money will be captivated by some people’s big returns.
The third reason people trade their accounts is to generate an additional source of income. Because most first-world nations are relatively expensive to live in, trading for income makes a lot of sense. Additional income sources are required to attempt the wonderful things in life.
Here is the structure of trading and non-trading fees of Bitonext.
Commission and Spreads
|Commission (per standard lot per side)||$0||$0||$0||$0|
Deposit and Withdrawal Fees
Bitonext accepts a wide range of funding methods. Clients may deposit and withdraw money through bank transfers, debit/credit cards, and cryptocurrencies. Furthermore, the broker provides e-wallets as a payment method.
The broker streamlines transactions for its clients by not charging fees for deposits or withdrawals. However, you should check with your service providers, such as a bank or an intermediary, to determine if there are any transaction fees. The minimum deposit required is $250, whereas copy trading requires just $100. The broker advertises immediate deposits, while wire transfers take 2-3 business days.
Fortunately, Bitonext does not charge any account inactivity fees.
Bitonext provides access to over 200 markets and 1000 trading instruments from a single platform. The broker trades in financial assets such as forex, commodities, indices, shares, CFDs, and cryptocurrencies. Bitonext, on the other hand, does not provide other asset categories like bonds or options.
For the time being, Bitonext provides only email support to clients. Since it is newer to the industry, it has not yet added phone and live chat support to the platform. Probably this is due to the limited customer base for now. However, they would be intended to add more contact methods to address traders’ queries.
We find the email support to be the best as your queries are responded to within a business day with the right intent.
Bitonext, web trading platform, is built to cater to the needs of the every-level trader. So, the platform is built user-friendly and fully loaded with tools. The copy trading and automated trading feature are on. There are various order types, and the platform is customizable. If you have a hassle while using the platform, you can consult the personalized assistance or email the support team.
Research & Education
Bitonext provides free educational resources to both new and seasoned traders. These training resources can help you improve your trading skills and financial market knowledge.
If you are new to trading, the first thing you need is a guide. Bitonext provides the best guide to educate you on what trading is all about. The broker has piled up the content under this section to educate novices or beginners. Furthermore, there are FAQs sections on using the web trading platforms.
Fundamental and Technical Analysis
Fundamental and Technical analyses are the core to making trading decisions on any trading instrument. Bitonext is concerned about this and has provided quality analyses on every financial asset. The broker provides expert analyses that guide the trader to make informed trading decisions, whether it is forex, indices, or the highly volatile market like crypto.
Bitonext is not a regulated broker and lacks a banking license. However, the license is being processed, and the broker will soon be regulated, leading legitimacy to its image.
We have visited the broker’s website minutely and worked with the real account. The broker’s conduct is purely professional, and the deposits and withdrawals are smooth. The website has SSL certification, which adds more points to its legitimacy. More importantly, the broker is based in the U.K, a country that is very strict regarding fraudulent activities. The customer service available via email, for now, is satisfactory and seems very professional as that of the top-notch trading brokers of the industry. The content on the websites has been adding up regularly, which depicts the broker’s seriousness towards its services. Moreover, we also tally the broker’s address by sending a blank post letter and found a positive response that depicts the genuineness of the location. Above all, we recommend opening an account with this broker if you have any safety concerns.
Pros & Cons
Bitonext is one of the newest market spear headers in the industry. Despite not being regulated, there has been no scam witnessed to date. The broker has already applied for the license, and it is projected to be regulated within 2022. The broker charges low market spreads and no commission on all account types. The educational material is adequate, yet the customer support section needs improvement. The trading platform is equipped with all tools and indicators necessary to make prudent trading decisions.