XchangeBTC is one of those online trading platforms that allow users to have access to the world of cryptocurrency. When looking for a brokerage firm, there are many possibilities available, but not many of them are reliable. Because of the market’s uncontrolled nature, it has attracted unsavory individuals. So you must assess whether the trading platform you are choosing is legitimate. It is where this XchangeBTC review can come in handy, as it is going to tell you exactly what makes this broker stand out from the rest.
The Need Of A Brokerage Firm
Computers were quite scarce just a few decades ago, and we didn’t expect them to become so beneficial to people in such a short period of time. However, the computer, working hand in hand with the internet, advanced at a breakneck pace, demonstrating incredible technological innovation. Prior to this development, traders and business people had to travel a great deal in order to sell and buy things.
Traveling was difficult in those days, and traders were wary of the amount of time they spent on the road. However, the circumstances and dynamics have changed due to the introduction of the internet. It tied everything together like a cord, and the globe quickly became a global community. Traders who previously had to travel to other cities in order to conduct business are now able to manage their businesses from the comfort of their own homes.
It was formerly difficult to conduct business within a huge country, but now it is becoming easier to conduct business across borders. Because of the internet, neither the seller nor the buyer is required to have a physical presence. This shift has resulted in a massive improvement in the simplicity and convenience of traders’ lives.
Another advantage of trading in the digital marketplace is that there are no restrictions on participating in it. In order to make a profit, a trader can inject his investment into the market whenever he wants, without the need to obtain permission from anyone. All he has to do now is register with a brokerage and keep moving forward.
You might be wondering if it is required to engage with a broker platform at this point. The response is that it is the only investment option in this market since it is the way the market operates. This market can only be accessed through the use of online trading platforms. In this market, traders are unable to deal independently, which is why it is necessary first to select a trading platform.
I would recommend that you trade through a broker because there are many different types of trading platforms (online) available in this market. You may initially disagree with me, but allow me to explain why I believe you should use a broker. The online trading platforms and marketplaces are merely a means of facilitating the sale and acquisition of securities. This approach may be appropriate for traders with a significant amount of trading expertise, but it is not feasible for inexperienced traders.
New traders may have a basic understanding of the trading market, but they are devoid of any practical trading experience. Because of this, I propose using an online broker who provides trading space and appropriate customer assistance.
Suppose you are investing for the first time in a certain market. You will be unsure of which asset to invest in, and having a plethora of possibilities will make you feel bewildered and disoriented. A lot of traders think they can do it alone, this is a common reason for the failure of the vast majority of rookie traders. In contrast, this will never happen to you under any circumstances with a broker on your side.
As soon as I’ve cleared up any ambiguity, I’m going to bring to your notice another vital safety measure. You should use extreme caution when choosing a broker to work with. A false brokerage platform’s registration process can have serious effects on your financial well-being. When choosing a broker for yourself, it is important to consider the following considerations. There are a plethora of brokerage firms available to you on the internet today.
Some of them seem to be mediocre, but a large number of them are truly outstanding. Bad brokers are dishonest and attempt to take advantage of traders, so you must avoid them at all costs. That’s why you should thoroughly investigate and examine them before settling on a particular broker. The second most crucial thing to remember is that even if a broker is legitimate, he may not provide you with the features you require.
The tools and features offered by each trader vary, and one trader’s tools and features may be great for another trader while being disagreeable for another. As a result, you must thoroughly investigate the services offered by a broker before engaging with them in order to avoid having to live with the consequences of your decision later on.
Consider the following scenario where you are a new trader who is still learning the ins and outs of trading. When you register with a brokerage, you make the error of choosing one that is specifically created to meet the needs of experienced traders. So, how are you going to better yourself in order to catch pace with its pace? Therefore, you should think about your requirements rather than settling with well-known brokerage firms even when they do not provide the services you desire.
Here’s the question: how can you tell whether or not a broker is legitimate? Before signing up for something like this, you should do an extensive study on it. It may appear simple to evaluate a broker at first glance, but believe me, it is not. Different people have different kinds of opinions about a single broker, which makes it harder to validate their assertions about that broker.
In order to make life easier for you, I conducted extensive research on a cryptocurrency broker XchangeBTC and found it to be rather amazing. I have tried out its features and am now going to share them with you.
Multiple Trading Accounts
XchangeBTC offers a variety of options in terms of trading accounts. A greater number of options in trading accounts indicates that the platform can support a greater variety of traders, including beginners, professionals, and specialists. XchangeBTC offers three major types of accounts and demo accounts and live accounts already available. Standard, Premium, and VIP accounts are the three types of accounts available. Afterward, I’ll go into greater depth on the characteristics of these accounts.
- Standard Trading Accounts
Standard accounts are basic accounts and are available to traders with little trading experience, such as beginners. Two accounts come under Standard accounts at XchangeBTC, like the Mini and Silver accounts. The fact that this account type demands a smaller initial deposit is one of the reasons why most novices prefer it.
This account allows access to all of the essential features and resources. This account user has access to leverage of 1:200 through this account. The minimum deposit requirement for the Mini account is up to 0.3 BTCs, and for the Silver account is. A specialized account manager is available 24 hours a day, five days a week.
- Premium Trading Accounts
Professional traders are the ones who prefer the premium account the most. The minimum deposit limit for Premium accounts is more than the deposit limit in the Standard account. The Premium accounts that XchangeBTC offers are Gold and Diamond accounts. The minimum deposit requirement of a Gold trading account is 5 Bitcoins, and for a Diamond account, it is 10 Bitcoins.
The features included in these accounts are also more advanced and numerous than those included in the previous account. The amount of leverage available in this account is not fixed and is determined by the capacity of the traders, but it can go up to 1:300. You can get up to 50% and 75% margin loans on these accounts, respectively. There is no commission to pay anymore.
- VIP Trading Account
This account is intended for sophisticated traders from the elite class. The minimum investment necessary for the VIP account is greater than the minimum capital needed for the premium account. These account holders have full access to all of the features available on this brokerage platform. Price change alerts and forecasts are sent directly to the trading account holder through email. Account managers maintain a tight check on the market movement and keep the trader up to date on the status of the account.
Trading Platform That Is Easy To Use
When a trader initially begins working with a brokerage, the trading platform provided by the broker is the first item he uses to conduct business. It is only possible to manage online trades and accounts through the use of trading platforms, which are software packages provided by brokers. It is a crucial feature because traders must use it daily for long periods of time. If they are dissatisfied with it, their trading encounter will be less than satisfactory. Investors can always see the interface of an online trading platform because it is always in front of them.
XchangeBTC has created a visually attractive trading platform that is open to all traders on a daily basis. Graphical User Interface (GUI) is so distinctive and visually appealing that it both pleases the eyes and the brain simultaneously. The combination of solid colors is visually appealing, and you will not grow tired of it over time. In contrast to other trading platforms that appear old, our platform provides a fresh and engaging experience on every visit.
Not only is the appearance of XchangeBTC pleasing, but so is the usage of the platform. You will be pleasantly surprised by how nicely the trading platform has been developed for your use. As a result of its design, the platform is suited for both novice and experienced traders. It will meet your needs, whether you demand advanced tools and intricate procedures or merely the fundamentals.
Since XchangeBTC has created the platform with the needs of both sorts of traders in mind while developing it. As a result, every trader now has access to an online trading platform that is straightforward and convenient to use. Additionally, individuals who choose to take advantage of additional tools and capabilities can do so according to their preferences. Nothing is disorganized on this platform, and you will be able to discover anything you are looking for in a matter of seconds.
The essence of the online trading industry, particularly if you are into cryptocurrencies, is one of extreme volatility. For instance, the prices of all cryptocurrencies are very unpredictable will be one in the morning and something else by the evening. On any one day, hundreds of opportunities present themselves and then vanish. It follows that in order to take advantage of those possibilities, traders must be available the majority of the time.
Speaking with professional ones, they will advise you that, in addition to having a reputable broker, the crucial factor in achieving success is to be available at all times. Those who don’t make themselves available lose hundreds of life-changing possibilities every year. It is accomplished through the use of XchangeBTC’s compatible trading platforms, which can be accessed from any location with an internet connection.
At the moment, XchangeBTC provides three different trading platforms. The Web-Trader is the first one provided by XchangeBTC. Because it is a browser-based trading platform, it does not necessitate the installation of any software packages. Go to the company’s website, log in with your credentials, and start trading.
The Mobile-Trader platform is the second platform made available by XchangeBTC. It is a really handy site for traders that travel a lot and want to make money, in addition to providing all of the functionality of the web-trading on mobile phones. You would not miss a thing if you were using our portable trading platform, whether at home or on the road. Its traders can also take advantage of an additional trading platform. The platform is referred to as the Meta Trader 4 (MT4) platform. The trading platform is designed to be used on high-performance PCs or laptops.
Knowledge Is Power
it is not something we are saying, but XchangeBTC says it on their webpage. Almost every brokerage firm makes the claim that it provides instructional materials for its clients. However, most of them offer the same content under a similar setup of e-books, videos, webinars, and other resources. It has somewhat become standard practice. When I initially visited the XchangeBTC education area, I was taken aback by the fact that there were three distinct kinds of instructional material. Instead of flowing with the flow, they have chosen to concentrate on the areas that require greater attention.
The themes XchangeBTC cover is comprehensive, and the content offered on this site is also of high quality. The text is backed up with relevant examples. In this course, students learn tactics that will be useful in the real world of trading. The FAQ section, the Forex Glossary section, and The Trading School section are the three divisions.
The FAQs area contains solutions to traders’ most often asked questions and queries. The issues that a user may face at any point in his or her profession are addressed in this section. If you can’t find the solution to your concern here, feel free to call the phone numbers listed on the site for good customer service. You’ll be able to test their attentiveness by contacting them directly.
The Forex Glossary is the second of the three categories. It is a comprehensive lexicon that covers every term associated with internet trading. Other brokers do not offer this service, and their content is too brief if they do. The vocabulary is well-organized and classified, so you’ll have no trouble finding the information you need. The alphabetical order of the list is maintained. This list also includes some commonly used layperson terminology for a greater understanding of trading.
Trading School is the third one, and every trader needs this category. This section covers all basic subjects. Traders can learn about the economic calendar, forex techniques, price indicators, financial markets, and a thorough beginner’s guide. The guide explains the fundamentals of FX trading. This section trains traders to grasp tactics and acquire trading procedures. A seasoned trader like me has also learned a lot from this section.
Professional traders have produced all three divisions with a great deal of experience. In this document, they have provided an overview of their knowledge, which they gained via years of effort in this market. The additional support provided by XchangeBTC allows traders to develop their trading understanding and skills further. A well-educated trader has a greater chance of success than a less educated trader.
I’ve gone through the advantages of working with this fantastic broker with you. However, these are not the only characteristics available; there are others as well. Finally, I would advise you to open an account with this brokerage firm because it is a full-service broker. No other broker compares to this one in terms of quality and service.