Bithoven Broker Reviews and Full Information

Bithoven is a broker in the forex company located in Kingstown situated in Saint Vincent and the Grenadines. What exactly is an Forex broker, it's an entity that provides traders access to platforms which allow them to purchase and sell foreign currency.

Finding a trustworthy Bithoven review in the local area or across the globe isn't an easy task particularly the process of locating a complete review from a reliable source.

Here is a comprehensive overview of Bithoven to assist you in making an a well-informed decision prior to opening a trading account or opening an account through their website.

The various names used for Forex brokers include retail Forex brokers, or brokers who trade in currency. There are a few differences. Retail currency traders utilize these brokers to get access to the currency market 24 hours a day to test their theories.

Forex brokers also offer services not just to individuals, but they also offer services for institutional clients and large companies, like investment banks.

Bithoven is a broker in the forex company based at Kingstown, Saint Vincent, and the Grenadines. It's a relatively new business that was established under the name of Fortris Ltd. in 2019.

Beethoven currently has more than 60 000 users and is able to offer $300m worth of cryptocurrency exchanged on their own website.

Awards and Recognition

When when it comes to choosing which broker to pick traders must consider the stability of the broker and credibility over time. The awards given to an established company can give a lot more assurance when dealing with forex.

Bithoven has earned the following awards throughout its time of offering services to traders:

The Fastest Growing Cryptocurrency trading Platform 2019 St. Vincent & Grenadines - Global Brands Magazine
The Best Bitcoin Start Of the Year 2019 -- IAFT Awards

Bithoven Accounts

A forex account maintained by the trader is typically offered by the broker with solely the purpose of trading various market instruments and currencies. The number and types of accounts trader may open through a broker firm vary based on the broker's location or the country in the region they are operating. The country of the resident of the broker would determine the regulatory authority under the rules they are.

Types of Accounts as well as their Features

Because of it being a platform, Bithoven has the only live accounts however, within the platform, users are able to switch from either the Margin trading page and the Exchange page. It is important to note that Margin trading can be done only available in Bitcoin only. In the case of crypto exchange there are a variety of currencies that you can choose from.

Deposits and withdrawals

Bithoven accepts only crypto-currency deposits and withdrawals. Therefore, if you don't currently have any crypto-currency, then you'll first have to buy the currency in exchange. According to their site, Bithoven advises users to use Switcher.

To exchange, deposit and withdrawal options , there are Bitcoin, Ethereum, Ripple, Bitcoin CASH, Tether, Litecoin, EOS, TRON, Stellar, and Cardano. Margin trading can be done in Bitcoin only.

There are no minimum or maximum limit for deposits however withdrawal limits will vary based on the currency. The details can be found on the Fees for the product list available on the website. There is no amount for withdrawals of coins.

The processing time is eight hours, for every coin. For fees, depositing money is free, but there is a fee for withdrawal (variable according to the type of coin) plus the 0.2 per cent fee for trading.

For Bitcoin the fee for withdrawal for Bitcoin is 0.0015 BTC and for Ethereum, 0.0428 ETH.

Prices and fees, Commissions and Spreads

Every broker has their own fees, which include spreads, commissions and margins. The trader should know the exact amount their broker's charges include prior to making a decision about trading with them.

The following explains what is a spread, margin and commissions are the spread of an exchange rate is the variation between the bid and asking price.

A pip is the smallest amount that the exchange rate is able to change. A pip equals 0.01 for currency pairs that have JPY as the currency of the day and 0.0001 for other pairs.

A margin is a term used to describe that is the sum of money required to be in your account to open a space. Margins are calculated based on the price at which you are currently trading USD as the currency of base USD as well as the volume (volume) of your trade and the leverage that is applied in your trade account.

Commissions are fees that a broker charges clients for trading on behalf of the client. The amount of commissions charged will vary between brokers and also depend on the different types of accounts, services, and trades executed by brokers.

There are execution-only brokers. They don't provide any kind of direct advice for investors. They charge much lower commissions, however the traders need the complete control over how they trade in the market.

However, contract for difference (CFDs) trading may be a risky option, it is an offshoot trading that permits traders to speculate on the fluctuating or falling costs of rapidly-moving international financial markets. This kind of trading on shares can be accompanied by commissions.

CFD trading on different markets do not incur commissions, but do include a spread that is based on the price on the market for an instrument.

Bithoven has fee of 0.20 percent on profit and losses. This is lower than the market rate. The fees are set at 0.2 percent per trade . This which is in line with the average of the industry.

Leverage

Leverage is a method to allow a trader to have a greater access towards the markets than what that a trader deposits to start trading. The leveraged products can increase the possibility of earning a profit for a trader, but also pose an opportunity for losses.

The leverage amount is represented as a percentage like 50:1, 100/1, or 500:1.

For instance for a trader who has an account with $1,000 and has a ticket size of 500,000 USD/JPY. That leverage would be 500:1.

While some exchanges, and most certainly all CFD brokers that deal in crypto assets, provide some leverage due to the market model used by the exchange Bithoven only facilitates trades between users . You are not able to opt to trade with a high margin.

Bonuses

In order to attract new clients from traders, Forex brokers normally lure their clients with attractive deposit bonuses. For investors who are new it can be extremely beneficial, but it is important to know what the best bonus.

Bonuses are a method to reward traders for choosing to go with a specific broker because once the account is established and the trader is able to enjoy the same expenses as other. The bonus is merely an incentive to the trader's decision to choose a broker that will pay some of the expenses back to the trader once having proven himself to be a reliable trader.

In addition, since August 1st, 2018 the European Securities and Markets Authority (ESMA) has put in place safeguards for investors in the distribution, marketing or sales of CFDs to retail customers and brokers are prohibited from providing directly or indirectly the retail customer with a cash payment, or non-monetary gain related to the marketing and distribution or sale of a CFD apart from the actual profits from any CFD offered.

The only offer on the website of Bithoven is Bithoven offers a fee reimbursement that allows users to deposit as little as 0.001 BTC to any margin account, and receive an immediate payment in the amount of 0.0005 BTC for the withdrawal cost by other exchanges and BTC wallets.

There aren't any bonus deposit bonuses that are advertised through their site.

Software, Platforms for Trading and Features

Brokers offer a variety of trading programs for their customers. This is usually referred to as trading platforms and can be used to trade.

A platform may be multi-asset which means that it permits users to trade forex, but also to trade other asset classes such as CFDs that trade stocks, indexes precious metals, precious metals, as well as crypto.

The decision about the best platform to use is based on the type of trades a customer would like to tradeon, so it is one of the criteria when selecting a broker.

Bithoven is a platform owned by Bithoven where traders are able to switch to Exchange as well as Margin. On the Exchange page, there's an online trading platform that users can control their BTC orders and see moving averages. On Margin, on Margin section, you are able to gain access to MetaTrader 5.

MetaTrader 5

The sophisticated MetaTrader 5 (MT5) platform is designed to give users an easy access to the world's exchange markets using an easy and user-friendly interface.

The features include:

• 21-time frames 38 technical indicators 44 graphic objects
• Six different types of a waiting order, four types of kinds of execution for orders
• Economic and financial news as well as an economic calendar
• Unlimited Charts
• Advanced Market Depth
• Hedging and netting
• Historical data

MetaTrader 5 can also be downloaded with a web browser version that has all the same features of the desktop application, but without the need for software download. Log into the Bithoven account, navigate onto the Margin trading page and choose Web Terminal.

Products, Markets Instruments, Markets, Products

A majority of brokers provide a variety of instruments to trade. A trend that is getting momentum is trading in cryptocurrency.

The following are the various kinds of cryptocurrency The most well-known among them are Bitcoin (BTC), which has been the digital currency that has the largest market capitalization and prices since its inception at the end of the year 2008. It holds 50 percent of the total market cap of crypto.

Ethereum (ETH) is the 2nd largest cryptocurrency following Bitcoin and allows developers to develop smart contracts using an online platform.

Another alternative cryptocurrency can be found in Litecoin (LTC) it is identical to Bitcoin however it differs in regards to scaling. Litecoin is also well-known altcoin. LTCUSD is an fork of Bitcoin (BTCUSD) which was copied from Bitcoin's code with some modifications and created a new project.

Ripple (RPL) has widely used by large banks as the Ripple network, which is a next-generation that is a real-time, gross settlement. It offers traders immediate cross-border fund transactions with very little cost.

In the end, Bitcoin Cash (BCH) was created through the Bitcoin hard fork in the year 2017 as a brand new version of the blockchain that was rewritten rules.

The other instruments you can use for market trading consist of Commodity markets that provide a variety of options for traders to invest in. The investment in tradable commodities based on contracts is a reliable option to lower the risk of rising economic uncertainty or inflation.

Precious metals are a reliable option for traders to invest in. It is a form of trading of gold and other precious metals that are commodities that are hard to come by.

The riskier are your energy-related products as they are subject to environmental and political circumstances. The high demand and supply makes it a very popular trading option.

The usual currency trading, also called Forex trading, sometimes referred to as FX trading or currency trading involves the market for monetary exchange in which businesses, individuals and financial institutions trade currencies to one another with fluctuating rates.

Finally, you will receive the Equity (also known as stock indexes) that are real indexes of the stock market. They determine the value of a specific unit in the market. They may represent a specific group of the biggest corporations of a nation, or be a representation of a specific stock market.

You can make trades with over 400 cryptocurrency using Bithoven.

and Regulations. and Regulation

If a broker is controlled by an governing regulatory agency this reduces the risk for the traders. This will tell you whether Bithoven is an acceptable broker to deal with.

It is registered to the Financial Services Authority (FSA) of Saint Vincent and the Grenadines. The data exchanges between the platform as well as server servers are secured using SSL/TLS encryption as well with two-step verification and automated logouts.

Bithoven is also in partnership with BitGo which is one of the safest and secured cryptocurrency wallets.

Customer Support

Investors who are considering investing need to be sure that the person they decide to invest with will provide them with the necessary support and assistance at any time and whenever they require it.

Bithoven customer services support team can be accessed by filling out an online request form, or by sending an email to customercare@bithoven.com.

There is no phone number. However, their live chat support responds in a matter of minutes.

Research

Anyone who wants to trade must look as far as can be done to answer the questions about the theory of trading prior to beginning to trade. The ability to trade with confidence and success is largely dependent on the an understanding and knowledge of markets. Therefore, researching options available to brokers is an integral part of the attributes when choosing a firm to invest with.

MetaTrader 5 (MT5) platform is designed to provide easy access and convenience. MetaTrader 5 (MT5) platform is designed to give users simple access to current tools for research as well as an economy calendar which is able to keep track of global economic changes and developments.

and Training and Training

The new clients of Bithoven must try to gather as much knowledge as they can regarding the type of expertise in trading will be necessary to be successful in the market of commodities and forex trading.

Bithoven's website will provide all the information needed to develop skills and gain knowledge in order to trade effectively with Bithoven.

Bithoven provides a number of useful tools and resources that could aid beginners, for instance videos regarding trading indicators and automated trading systems. The site also has an overview of the various crypto-currencies that are available, along with their individual white papers as well as additional details to give the market and product information.

Conclusion

Bithoven is a brand new cryptocurrency exchange which was launched in the year 2019. They support trades by providing the largest selection of tokens and altcoins that have very low commissions on trade and acceptable withdrawal charges.

Traders are not able to make use of Bithoven for trading in within the United States.

Disclaimer

Bithoven warns prospective traders to be aware to be aware that Forex or CFDs trading always carry the risk of high which is why they might not be suitable for everyone.

If a customer decides to sell Bithoven's products It is advised to think about their investment goals and financial needs, financial status and knowledge before investing in funds that they can't afford to lose.

Particularly when traders utilize Bithoven the leveraged accounts of Bithoven and leveraged accounts, they must ensure to have enough of margin to support their positions, as trading Forex/CFD as well as Options with margins and making use of a greater than necessary leverage could be beneficial or negative for a trader. It is possible to suffer a loss of a portion or all the initial investment.

Although Bithoven promises traders to make every effort to complete any trade with the desired price, online trading is not a guarantee of reducing the risk associated with trading in currencies so trades and quotes are typically subject to the terms and conditions of the Client Agreement that is available on the website of the broker.

The potential traders should first familiarize them with the associated risks before seeking assistance from an impartial financial consultant.

FAQ's

Trading Environment

What are the instruments I can deal with Bithoven?

There are a myriad of instruments using Bithoven that include the following:

You can trade over 400 cryptocurrencies. There is no mention on their website other assets in other forms.

Which are the platforms that are supported by Bithoven?

Bithoven offers the following well-known trading platforms:

• Their own platform online and
• MetaTrader 5

Does Bithoven offers leverage?

It's not, Bithoven just aids trades between users, so you don't have the option to trade with a high margin.

What kinds of spreads can I anticipate from Bithoven?

Bithoven has costs of 0.20 percent of profit and losses. This is less than the market rate. The fees are set at 0.2 percent per trade . This being in line with the average of the industry.

Does Bithoven have a fee for commissions?

No

Is Bithoven being regulated?

Absolutely, Bithoven is regulated by the Financial Services Authority (FSA) of Saint Vincent and the Grenadines.

Are Bithoven an ideal forex broker for professionals and novices?

Bithoven is recommended to all kinds of traders, from novices to experts.

What is the average rating from 10/10 for Bithoven?

7/10

Accounts

What's the distinction between live and an actual trading account?

Demo accounts are provided by brokers and is it is funded by virtual money which lets potential customers test the trading platforms and featuresprior to creating an actual account that is funded by the actual money of the customer.

Does Bithoven provide a demo account?

Yes

Can I transform my demo account into an active trading account on Bithoven?

The demo account is used with real-time rates and conditions of trading for up to 30 days

Which live trading accounts can Bithoven provide?

Because of its nature, Bithoven has just one account live however, within the platform, users are able to switch to either two pages: the Margin trading page and the Exchange page.

What are the most popular currency options for depositing money into live trading accounts?

Crypto-currencies

Deposits and withdrawals

Is there a minimum amount of deposit for Bithoven?

Non-applicable

How do you withdrawal or deposit using Bithoven?

Bithoven provides the following withdrawal and deposit methods:

• Switcher,
• Bitcoin,
• Ethereum,
• Ripple,
• Bitcoin CASH
• Tether,
• Litecoin,
• EOS,
• TRON,
• Stellar

The same method employed for funding an account should typically be employed to withdraw funds again, and funds will only be transferred to accounts with exactly the same names. account used to trade through Bithoven.

Does Bithoven have withdrawal fees?

However, charges from financial institutions could be a factor.

How long will it take to process an account withdrawal?

Bithoven states that withdrawals typically take just one or two days. However, traders should be aware that, depending on the bank service , it could require several days for money to show up on a customer account.