BitMarkets review: there is no broker like a broker. That could probably be said about “BitMarkets” right off the bat. Most brokers you come across will offer you a large number of trading opportunities. From stocks to futures or bonds. However, BITMarkets deals exclusively with cryptocurrencies. It is aware of how times are moving forward and is certainly not looking to fall behind its industry peers. Not only that. Thanks to its specialization in cryptocurrencies and futures, BITMarkets intends to become a leader in the cryptocurrency market not only abroad, but also in the Czech Republic.
- Comparison of bitmarkets with competitors
- About Bitmarkets
- Bitmarkets language versions
- What can be traded
- How to start trading
- What are next-generation futures
- Bitmarkets website
- Bitmarkets Academy – Education directly with the broker
- Advantages and disadvantages of the broker
- Final Bitmarkets Broker Review
Comparison of bitmarkets with competitors
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This company entered the market in 2022 and has already managed to collect very prestigious awards. This is the “Crypto Expo 2022” in Dubai in the “Best Crypto Exchange Customer Service” category. I consider this to be a very good start indeed. Because clients can trade anywhere, but where they really care and provide the best service to their clients, trading is much better.
Bitmarkets language versions
The company can provide its clients with trading in more than 20 languages. You can very easily switch in the top list. I consider this a great boon and proof that the company is thinking truly globally. In addition to the multitude of languages, it offers a large number of traded cryptocurrencies in particular. And it has more than 80 globally recognized assets.
What can be traded
As mentioned, BITMarkets is focused on the world of cryptocurrencies. It can also trade so-called futures contracts. We will talk about these further in the review. Now let’s focus on what cryptocurrencies they offer.
Under the “markets” tab, we can find all the cryptocurrencies that the broker offers. From the very well-known ones, such as Bitcoin, TRX or Avalanche, to the lesser-known ones. The broker shows us in a clear table what the price of this cryptocurrency is, what changes have taken place in the last 7 days and also what the value of these cryptocurrencies is circulating on the capital market. However, what surprised me very pleasantly is the fact that we can click on the detail and we can learn a really large amount of information about this cryptocurrency, its history and development. I haven’t seen this with any other broker and I definitely rate it as a big positive. Of course, you will find the possibility to trade right away. Buy, but also sell (if you are already a client).
How to start trading
You can start trading very easily by logging in to BitMarkets.com. Logging in is really easy- just enter your first name, last name, email, phone and you are ready to register. For some potential clients, a demo account would be useful, which unfortunately I couldn’t find on the company’s website. Clients who are starting out, unsure, or very cautious about which broker to let into their financial lives would certainly appreciate some sort of small demo account.
I would like to mention fees in this section. The company mentions on their home page www.bitmarkets.com that they have the lowest fees. They specifically talk about the fact that they are not there to charge excessive fees, but to oversee their clients’ trades and of course to promote them, possibly not leading to better results and more importantly earnings. But unfortunately I could not find any specific fee schedule on the company’s website.
What are next-generation futures
In this review, I would also like to focus on so-called futures contracts. When we trade futures, we are not trading the cryptocurrency itself. A futures contract is a standardized agreement to buy or sell cryptocurrency at a certain price at a predetermined date in the future. In practical terms, you could say that this provides us with options to hedge against your crypto’s exposure to unexpected volatility in the spot markets, which can fluctuate in any way over time. Thus, by using leverage, we can take advantage of minor market fluctuations in futures. De facto, we can maximize our returns.
Trading offer at Bitmarkets
BitMarkets offers the opportunity to trade next-generation futures. Some of you may be hearing this for the first time. In doing so, it’s a very simple yet effective idea. This is because with futures, we only ever trade one asset. With next-generation futures, or futures 2.0, we can take advantage of margin and multi-asset trading. We record margin and settle our position in any fiat type or cryptocurrency.
So here we really cannot be restricted in any way in our trading activities and strategies. I definitely view this as very positive and I think this is clearly a great domain of this broker.
I would like to write more about the company’s website. If we visit www.bitmarkets.com, we need to select the language we will use. The default language is English, but there are about 20 possible languages to choose from, ranging from English, Czech, German… to Vietnamese or Portuguese. So you can see that the diversity of the company is great. In the same tab there is also the possibility to select the currency in which we will trade. The choice is between USD or EUR.
Home page with current cryptocurrency offerings
What I really appreciate is the main page of BitMarkets. Immediately after opening the website, the cryptos we can trade are displayed and constantly changing. So we can immediately see what changes are taking place for each trade and how much it costs to buy a unit. There is also the possibility to view the individual markets and start trading immediately. Simple and fast.
Broker app for Android and iOS
It is necessary to stay on the main page of the company, and below we will still learn that the company is working on an app for apple and android, so that every client can trade in real time and so he does not miss any trade.
If we still don’t have enough information, below we will learn why we should actually work with bitmarkets.I really liked this part very much. For example, they point out that they engage in what is called spot trading, or they offer a referral program to their clients, for example. Let’s go through the reasons why you should actually choose bitmarkets among other brokers.
- SPOT TRADING – instant settlement trading, smooth trading flow with all-in-one order book for higher liquidity, lower spreads, and wider variety of trading pairs
- UNIQUE FUTURES OPTIONS- bitmarkets futures 2.0 revolutionizes bitcoin futures trading
- 80+ CRITICAL- Diversify means business. The possibilities are truly abundant
- REFERRAL PROGRAM- if it brings friends, it means bigger and bigger benefits for you in trading. We are talking about commission on their trades.
- 24/7 SUPPORT- a wonderful system of constant support in over 20 languages (hats off- most brokers really can’t do this).
- FAST TRANSACTIONS- they can process over a million requests in one second. This is really very important. Because if we decide to trade, we want to do it when it is most advantageous for us and there is definitely no waiting. In a few seconds, your trade might not be so profitable.
The company’s website is simple. Everything you need to find is in the top bar.
Bitmarkets Academy – Education directly with the broker
One of the worse tabs on the company’s website is the “academy” tab. If we click on the rollbox, we find what we are looking for. Whether we’re a beginner or advanced, we’ll find our way.
Under the terms “crypto for beginners” and “crypto for advanced” we can find tutorials , which we can view and learn the important information we are looking for. Unfortunately, this is not yet available in English, but we can view them in English.
The next section, which is under the “academy” tab, is CRYPTOMEDIA. Here we can find all the cryptocurrencies the company trades very clearly. They are easy to click on and here comes another positive news and a big surprise for me. Not only do we learn how much a unit is worth, how it moves on the market, but we can also read information about cryptos, its history and what it actually means. For clients who are looking for profit behind trading, but also have it as a hobby, this really is the RIGHT thing to do.
The last part of the “academy” tab is a glossary of terms. I rate it again very positively. Especially for clients who are starting out this is very important. Unfortunately this section is also still only in English, but the company states that they are working on translating it into other languages. So we will look forward to that.
Advantages and disadvantages of the broker
- Young and progressive company
- Best customer service- Dubai 2022 Crypto award
- Can trade in more than 20 world languages
- Trades in both USD and EUR
- Can trade more than 80 cryptocurrencies
- Creating an account with BITMarkets is very simple and quick
- Low fees (they are not here to charge fees, but to help their clients to the highest profits)
- They use next generation futures- aka futures 2.0
- The company’s website is very simple and interactive- everything in one place
- Incredible amount of information about each cryptos (history, development, information)
- Lightning fast transactions- can trade up to a million transactions in one second
- Academy (basic concepts and information for beginner and advanced clients
- Lack of information about the company on the website www.bitmarkets.cz
- Lack of fee schedule and prices for individual crypts and shops
- Lack of demo version for potential clients
- Academy only in English language so far
- Potential client does not have the opportunity to learn how much trading will cost and what it could realistically look like. He has to open an account and only then does he get into the world of bitmarkets.
- The fees are not published anywhere. It might be helpful for the client to see in black and white what they will pay
Final Bitmarkets Broker Review
In conclusion, BitMarkets is a young and progressive broker that definitely has a lot to offer its clients. Above all, the possibility of diversification can be a big attraction for many potential clients. The website still needs to be worked on and prepared for the Czech part of the clients, but let’s definitely give this broker a chance.