Is Bitsoft 360 a Scam? An Unbiased Review of CFDs and Real11. June 2023
Bitsoft 360 Review – Is it Scam? – CFDs and Real Cryptos
Bitsoft 360 is a trading platform that offers CFDs (Contracts for Difference) and real cryptocurrencies trading to its users. In this review, we will give you an in-depth analysis of the broker, its features, fees, and benefits. Our goal is to provide you with an honest and unbiased review of Bitsoft 360, so you can make an informed decision on whether this platform is right for you.
CFDs and real cryptos are two different ways of trading cryptocurrencies. CFDs allow traders to speculate on the price movement of cryptocurrencies without actually owning them, while real cryptos trading involves buying and selling actual cryptocurrencies. Bitsoft 360 offers both CFDs and real cryptos trading, which gives traders the flexibility to choose the option that suits them best.
Background on Bitsoft 360
Bitsoft 360 was founded in 2018 and is headquartered in London, UK. The company is owned by Bitsoft 360 Limited, which is registered in Saint Vincent and the Grenadines. Bitsoft 360 is a relatively new player in the market, but it has gained popularity among traders due to its user-friendly platform and a wide range of trading instruments.
Bitsoft 360 is a regulated broker and is authorized and regulated by the Financial Conduct Authority (FCA) in the UK. This means that the broker is subject to strict rules and regulations that ensure the safety of traders' funds and rights.
Bitsoft 360 Trading Platform
Bitsoft 360 offers a web-based trading platform that is user-friendly and easy to navigate. The platform is designed to suit both novice and experienced traders, with a range of trading tools and indicators that help traders to make informed decisions. The platform also offers a mobile app that is available for both Android and iOS devices.
The available trading instruments on Bitsoft 360 include CFDs on cryptocurrencies, forex, commodities, indices, and stocks. The platform supports multiple order types, including market orders, limit orders, stop orders, and trailing stop orders. The execution speed is also fast, with trades being executed in real-time.
The security features of the platform include two-factor authentication, SSL encryption, and segregated client funds. This ensures that traders' funds are safe and secure from hackers and other cyber threats.
Bitsoft 360 Account Types
Bitsoft 360 offers three different account types, namely Basic, Gold, and Platinum. The minimum deposit requirement for opening an account is $250, $10,000, and $50,000, respectively. Each account type offers different features and benefits, including a personal account manager, access to educational materials, and more.
The Basic account is suitable for novice traders who want to get started with trading, while the Gold and Platinum accounts are designed for experienced traders who want more advanced features and benefits.
Bitsoft 360 Fees and Commissions
Bitsoft 360 charges a spread on each trade, which is the difference between the bid and ask price of the asset being traded. The spread varies depending on the asset being traded and the account type. In addition to the spread, Bitsoft 360 also charges overnight fees for positions that are held open overnight, and other charges such as withdrawal fees.
Compared to other brokers, Bitsoft 360's fees and commissions are competitive and reasonable. Traders can view the fees and commissions on the broker's website before opening an account.
Bitsoft 360 Customer Support
Bitsoft 360 offers customer support via email, phone, and live chat. The response times are fast, with most queries being resolved within 24 hours. The customer support team is available 24/5, from Monday to Friday, and is multilingual, which makes it easier for traders from different countries to communicate with them.
Customer feedback and reviews on Bitsoft 360's customer support are generally positive, with most traders praising the team's professionalism and responsiveness.
Bitsoft 360 Education and Resources
Bitsoft 360 offers a range of educational materials and resources to help traders improve their skills and knowledge. These include trading guides, tutorials, and webinars, market analysis, and news updates, and trading tools and indicators. The broker also offers a demo account that traders can use to practice trading strategies before trading with real money.
The educational materials and resources are suitable for both novice and experienced traders, and are regularly updated to ensure that traders have access to the latest trading techniques and strategies.
Bitsoft 360 Security and Privacy
Bitsoft 360 takes security and privacy seriously, and has implemented measures to ensure that traders' funds and data are safe and secure. The platform uses SSL encryption to protect traders' data, and has implemented two-factor authentication to prevent unauthorized access to accounts.
The broker is also regulated by the FCA in the UK, which ensures that it complies with strict rules and regulations that protect traders' funds and rights.
Bitsoft 360 Pros and Cons
- Regulated broker
- User-friendly trading platform
- Competitive fees and commissions
- Multilingual customer support
- Range of educational materials and resources
- Limited range of trading instruments
- High minimum deposit requirements for advanced account types
In conclusion, Bitsoft 360 is a reputable broker that offers a range of trading instruments and a user-friendly trading platform. The broker is regulated by the FCA in the UK, which ensures that traders' funds and rights are protected. The fees and commissions are competitive, and the customer support is professional and responsive. However, the minimum deposit requirements for advanced account types are relatively high, and the range of trading instruments is limited compared to other brokers.
Is Bitsoft 360 a regulated broker?
Yes, Bitsoft 360 is a regulated broker and is authorized and regulated by the Financial Conduct Authority (FCA) in the UK.
What is the minimum deposit requirement for opening an account with Bitsoft 360?
The minimum deposit requirement for opening an account with Bitsoft 360 is $250 for the Basic account, $10,000 for the Gold account, and $50,000 for the Platinum account.
What trading instruments are available on Bitsoft 360?
Bitsoft 360 offers CFDs on cryptocurrencies, forex, commodities, indices, and stocks.
How does Bitsoft 360 ensure the security of its trading platform?
Bitsoft 360 ensures the security of its trading platform by implementing measures such as SSL encryption, two-factor authentication, and segregated client funds.
Does Bitsoft 360 offer educational resources for traders?
Yes, Bitsoft 360 offers a range of educational materials and resources for traders, including trading guides, tutorials, webinars, market analysis, and news updates.
What are the fees and commissions charged by Bitsoft 360?
Bitsoft 360 charges a spread on each trade, which varies depending on the asset being traded and the account type. In addition to the spread, the broker also charges overnight fees and other charges such as withdrawal fees.
How can I contact Bitsoft 360 customer support?
You can contact Bitsoft 360 customer support via email, phone, or live chat. The customer support team is available 24/5, from Monday to Friday.
What are the pros and cons of using Bitsoft 360?
Pros of using Bitsoft 360 include a regulated broker, user-friendly trading platform, competitive fees and commissions, multilingual customer support, and a range of educational materials and resources. Cons include limited range of trading instruments and high minimum deposit requirements for advanced account types.
Can I trade cryptocurrencies on Bitsoft 360?
Yes, Bitsoft 360 offers CFDs on cryptocurrencies, which allows traders to speculate on the price movement of cryptocurrencies without actually owning them.
Is Bitsoft 360 a scam or a legitimate broker?
Bitsoft 360 is a legitimate broker that is authorized and regulated by the Financial Conduct Authority (FCA) in the UK. The broker has gained popularity among traders due to its user-friendly platform and a range of trading instruments.