Bithoven is a renowned cryptocurrency exchange platform, offering margin trading on many crypto coins, including Bitcoin, Ethereum, and Ripple. This audit covers everything from leverage to payment techniques. See whether Bithoven is a dependable and controlled broker.
Bithoven Company Details
Working under Fortis Ltd since 2019, Bithoven has more than 60,000 clients and has witnessed $300 million in cryptocurrency trading through its platform. The company is enrolled with the Financial Services Authority (FSA) of Saint Vincent and the Grenadines.
Inside the Bithoven platform, clients can switch between Margin and Exchange. From the Exchange page, there is a web trading platform where you can deal with your BTC orders and view moving midpoints. From the Margin page, clients can get to MetaTrader 5.
The advanced MetaTrader 5 (MT5) platform is intended to give simple admittance to worldwide exchange markets through a basic and instinctive interface.
- 21 time frames, 44 graphical objects, 38 technical indicators
- 4 order execution types, 6 types of pending order
- Financial news and economic schedule
- Unlimited number of charts
- Advanced Market Depth
- Hedging and netting
- Historical data
MT5 is viable with Windows laptops and can be downloaded from the Bithoven website.
MetaTrader 5 is likewise offered in a web program adaptation with similar highlights as the work area application and without the requirement for any program download. Basically, sign in to your Bithoven account, change to the Margin trading page, and select Web Terminal.
Margin traders can open situations against Bitcoin (BTC) or US Dollar (USD). The accompanying markets are accessible:
- USD pairs – Including BTC, LTC, ETH, XMR, BCH, ZEC, Run, XRP
- BTC pairs – Including BCH, Run, ETH, XMR, ZEC
Fees and Pricing
For both margin and exchange trading, Bithoven charges a level 0.2% trading expense across all cryptocurrencies. The expense is charged once you enter the market (both for opening and shutting a position).
For margin trading, floating spreads start from nothing, with 0.01 as base request volume. The margin call level is fixed at 40%, and the stop out level is 20%.
Different expenses to know about incorporating a rollover charge required on positions held for the time being, with triple trades being charged on Friday and Saturday. There is no inertia charge.
For margin trading, leverage can be fixed at 1:3, 1:10, or 1:20. These can be chosen from inside the Bithoven platform after creating a Demo or Live account.
Bithoven offers the MetaTrader 5 platform in a mobile application, viable with the two iOS and Android gadgets. The application permits traders to get to similar highlights all day, every day, any place they are, including real-time quotes, push notices, financial news, and rich chronicled information.
The application can be downloaded from the Application Store or Play store.
Bithoven only permits cryptocurrency deposits and withdrawals, so in the event that you don’t presently hold any cryptocurrency, you will initially have to buy them in exchange (Bithoven recommends Switchere).
For exchange, deposit and withdrawal choices incorporate Bitcoin, Ethereum, Ripple, Bitcoin Money, Tether, Litecoin, EOS, TRON, Stellar, and Cardano. Margin trading is in Bitcoin only.
There is no base or greatest deposit limits. Notwithstanding, withdrawal essentials will fluctuate contingent upon the coin. These can be found on the item Fees list on the site. There is no most extreme cutoff on coin withdrawals.
Preparing times are eight hours for all coins. As far as fees, depositing is free. In any case, there is a withdrawal fee (variable relying upon the coin) on top of the 0.2% trading fee. The withdrawal fee is 0.0015 BTC for Bitcoin. For Ethereum, it’s 0.0428 ETH.
Bithoven offers a demo account for users where it is possible to test the platform and apply leverage with zero danger. Demo Margin reenacts trading with a wide scope of cryptocurrencies inside the MT5 platform. Leverage can be fixed up to 1:20 with a virtual harmony somewhere in the range of 1 and 10 BTC.
The demo account is available however long required and can be opened from your margin account page subsequent to enrolling.
Deals and Promotions
Bithoven offers a fee remuneration promotion whereby users deposit from 0.001 BTC to any margin account, and they will get a moment pay of 0.0005 BTC for the withdrawal fee charged on different platforms or BTC wallets.
Bithoven presently doesn’t offer a deposit bonus.
Regulation and Reputation
Bithoven is enlisted with the Financial Services Authority (FSA) of Saint Vincent and the Grenadines, working under Fortis Ltd. This isn’t the most regarded administrative organization, so clients may get restricted legitimate assurance should the dealer go under or decline to payout returns. All things considered, Bithoven has gotten various industry grants as of late, recommending they have a decent reputation among traders and specialists.
Bithoven gives some valuable instruments and assets that may help novices, for instance, video instructional exercises on trading signs and trading robots. There is likewise a rundown of the diverse available cryptocurrencies with individual white papers and additional data to give market and item settings.
Because of the idea of the platform Bithoven gives only one Live account. Notwithstanding, inside the platform, users can switch between the Exchange page or the Margin trading page. Note that Margin trading is in Bitcoin only. For crypto exchange, there are a few monetary forms to browse.
Users of Bithoven can partake in a few benefits:
- User-friendly and intuitive MT5 platform
- Dozens of tradable cryptocurrencies
- Competitive trading fees
- No inactivity fee
Drawbacks of utilizing Bithoven include:
- Higher than average withdrawal fees
- Only crypto deposits are available
- No online chat support
Crypto trading hours run from 00:00 to 24:00 EET. Each Sunday, there is a break in trading somewhere in the range of 04:30 and 04:35 EET.
Bithoven customer support can be gotten to by taking care of an online solicitation structure or by sending an email to firstname.lastname@example.org. There is no live visit administration or phone number. Nevertheless, on testing the online contact structure, reactions were useful and were gotten a few hours.
Stay up with the modern with the most recent news on the broker’s web-based media pages:
Safety and Security
Data exchanges between the platform and customer workers are gotten with TLS/SSL encryption, just as two-step confirmation and automatic logouts. Bithoven is additionally banded together with BitGo, one of the most secure and most secure cryptocurrency wallets.
With cutthroat trading expenses, a user-friendly inward platform, and the MT5 offering, Bithoven makes it simple to utilize the exchange or start margin trading with Bitcoin. However, is it a decent platform for all levels? Its absence of complete training and trading tools might be a slight drawback for novices.
Bithoven acknowledges traders from Australia, Thailand, Canada, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, and most different countries.
Traders cannot utilize Bithoven from the United States.
Alternatives to Bithoven
In case you are searching for alternatives to Bithoven, we have assembled a rundown of the top 5 brokers that are like Bithoven underneath. This rundown of brokers like Bithoven is arranged by similitude and just incorporates organizations that acknowledge traders from your area.
RoboForex – RoboForex is a multi-asset online broker contributing amazing trading aides.
OctaFX – OctaFX offers multi-asset trading on a scope of platforms and versatile arrangements.
FXOpen – FXOpen is an exceptionally directed FX, and CFD broker is contributing multiple trading platforms.
ThinkMarkets – ThinkMarkets is multi-regulated forex and CFD broker
EagleFX – EagleFX is a mainstream trading broker contributing forex, stocks, cryptos, and commodities.
Is Bithoven trustworthy?
According to a security perspective, Bithoven is a safe platform, utilizing TLS/SSL encryption, two-step check, and automatic logouts. As the organization is moderately new to the business, we can’t yet remark following right after its record.
What is the pricing at Bithoven?
Trading expenses are 0.2% for takers and producers. The withdrawal charge relies upon the coin, which you can discover on the site.
What trading platforms does Bithoven use?
Bithoven utilizes MetaTrader 5, the most developed and mainstream trading platform, available by means of an internet browser, desktop, or versatile.
What installment techniques are accessible at Bithoven?
For the cryptocurrency exchange, you can just store and pull out utilizing cryptocurrencies. These add Bitcoin, Ethereum, Ripple, Bitcoin CASH, Tether, Litecoin, EOS, TRON, Stellar, and Cardano. Margin trading is in Bitcoin alone.
What are margin trading tools accessible at Bithoven?
Bithoven presents to 1:20 influence in 14 diverse cryptocurrencies, which you can trade against USD or BTC. There is likewise the alternative to trade different coins.