Bitfinex Guide – Read our In-Depth Bitfinex Review
This Bitfinex review has been updated for 2021 by industry experts with years of financial experience in Forex, CFDs, & Social Trading.
Please note that due to regulations, the content in this Bitfinex review does not apply to US users.
If you're a new entrant in the world of trading and broker, so many facts will be perplexing for you. Getting into the area of trading requires expert analyzing skills and comprehensive understanding. You'll acquire adept at all the concepts of brokerage since you keep trading. For starters, you need to choose the ideal broker who'll be clear with you constantly.
Within this fast-paced universe of stock markets and trading, you'll need guidance to make correct decisions. A professionally lead investment program will generate hefty returns. Bitfinex is one such platform which will take you and your investment to great heights. It's important that you understand all about Bitfinex before you trust them with your cash.
Our full Bitfinex Review covers all you will need to learn about trading using Bitfinex. A fantastic agent can multiply your initial investments and provide you positive profits. If you want to earn profits, you must trade with a brokerage service that contrasts with your investing objectives.
There's absolutely no sure-fire method to ensure profits; therefore, you should carefully assess your agent before you choose them. It's a frequent misconception that all agents are exactly the same, but that's not correct. Wrong judgment, initially, can put your investments in danger.
Bitfinex is a broker which has forged its way successfully to the brokerage world. In this review, we've attempted to collate some of the important facets of Bitfinex. This review can allow you to understand whether Bitfinex is a fantastic match for your investments or not. We've attempted to breakdown all the features and charges for your advantage.
Bitfinex Review, Table Of Contents
- Who are Bitfinex?
- Benefits Of Trading With Bitfinex
- Everything you should know about trading with Bitfinex
- Is Bitfinex Safe To Trade With?
- Pro's & Con's Of Trading With Bitfinex?
- Compare Brokers Similar To Bitfinex
- Regulation And Licencing In More Detail
- Bitfinex Awards
- Minimum Deposit Required For A Live Account With Bitfinex
- Bitfinex Commission And Fees Explained
- Compare broker fees against Bitfinex
- Bitfinex Withdrawal Fees Explained
- Bitfinex Deposit Fees Explained
- Compare Broker Deposit Methods
- What Can You Trade With Bitfinex?
- Alternatives To Bitfinex
- Frequently Asked Questions About Bitfinex
Who are Bitfinex?
Bitfinex is a forex broker headquartered in New Zealand and provides a variety of instruments for trading. Since its establishment in 2015, Bitfinex has emerged as a top player in the field of online brokerage. Bitfinex has an extremely competitive and full-featured trading site that's focused on forex, indices, metals, stocks , commodities.
Over the past 6 years, Bitfinex has grown into one of the leading online brokers.
After establishing in 2015, their customer base has become as large as 10,000+ clients.
Bitfinex is the favorite of many traders.. Our Bitfinex review discovered that they are an superb alternative for automated trading options. It's best suited for investors who are looking for a variety of assets. Social and automated trading solutions are the heart at Bitfinex.
Technology plays a significant role at Bitfinex. Bitfinex offers trading on Android Apps,iPhone/iPad,Desktop. Bitfinex is honest, transparent, and a well-regulated broker by the Financial Services Provider (FSP). Their outstanding array of resources will be beneficial for the majority of traders. Third-party partnerships also supply in-house research.
The educational department at Bitfinex is quite insightful for new traders as it allows them to have a closer look at the financial markets. Bitfinex caters to all sorts of traders and are a must-have broker for any well-diversified approach to trading.
If you feel that Bitfinex is not right for you then at the bottom of this Bitfinex review you wil find a lot of alternatives to Bitfinex.
Everything you ought to know about trading with Bitfinex
Bitfinex is a lively platform that provides various techniques of trading. These instruments cover the monetary markets substantially. The Majority of the broker platforms provide fewer procedures than Bitfinex
If you want to trade with Bitfinex, you will require a minimum deposit of $100. This deposit is mandatory if you wish to begin trading with Bitfinex. This 2021 Bitfinex review will guide you clearly about trading with them.
Bitfinex is as versatile as another broker platform. Bitfinex is excellent for traders who want a manageable variety of low-cost services. The platforms offered by Bitfinex are third party, white-label offerings. All traders can pick out of Android Apps,iPhone/iPad,Desktop.
Along with everything, Bitfinex has multiple benefits to new and verteran traders and should be investigated. There's absolutely no minimum time on which a transaction has to be kept available. The agents offer premium customer service which rewards clients with benefits.
Many unethical brokers attempt to pressurise users into bigger funding for premium services. Bitfinex, on the other hand, is more focused on trading volume. Dealers can expect trading conditions to be reasonable, honest and transparent. The more lots traded by the consumer, the further advantages will become available.
Bitfinex accounts are available around the world and provides quality service everywhere they have clients. There are a few countries where Bitfinex accounts are not available. Traders in the following countries cannot open or use a Bitfinex account:
Is Bitfinex Safe To Trade With?
Established in 2006, Bitfinex has been operating for 6 years, they have a head office in New Zealand.
Bitfinex is regulated by Financial Services Provider (FSP). These figures have rules that ensure that trading platforms have ploicies in place to maintain investor's assets secured. This usually means that Bitfinex users don't need to worry about their money since it is segregated and safely kept in banks that are established. SSL encryption secures every user's personal information also.
You are able to make use of a choice for Two Factor Authentications (2FA) with Bitfinex for heightened safety. An SMS with the verification code will be sent to a mobile phone. You'll be asked to enter this code to log in to your account.
Another concern with financial brokers is in respect to security may be manipulation of trading. This is highly disadvantageous for users on these platforms. Nonetheless, this is more prevalent in the example of Market Maker agents who compete with customers on the stage.
Pro's & Con's Of Trading With Bitfinex
Every online trading platform will have a few ups and downs, and no Bitfinex review would be complete without showing both sides. This Bitfinex review covers both the pros and cons you need to know before you make an account. A comparative analysis can put things into perspective so that you are aware of what to expect.
- Bitfinex is trusted by 10,000+ clients
- Bitfinex doesn't charge withdrawal fees
- Bitfinex doesn't charge inactivity fees
- Bitfinex doesn't charge deposit fees
- Bitfinex doesn't charge CFD fees
- Bitfinex offer trading on Android Apps,iPhone/iPad,Desktop
- Bitfinex offer 55 trading instruments
- Bitfinex trades major forex pairs
- Bitfinex offers trading on cryptocurrencies
- Bitfinex can communicate in
- Bitfinex does not offer Negative Balance Protection
- Bitfinex does not offer Guaranteed Stop Loss
- Bitfinex doesn't trade minor forex pairs
- Bitfinex doesn't trade exotic forex pairs
Bitfinex Review - Compare Brokers Similar To Bitfinex
|Headquarters||New Zealand||United States||United Kingdom||USA|
|Regulated By||Financial Services Provider (FSP)||Unregulated||Financial Conduct Authority (FCA), Prudential Regulation Authority (PRA)||Financial Conduct Authority (FCA)|
|Find Out More|
|Risk Warning||Your capital is at risk||Your capital is at risk||Your capital is at risk||Your capital is at risk|
Bitfinex Review - Regulation And Licencing In More Detail
Bitfinex is regulated by Financial Services Provider (FSP).
Bitfinex, as a business, has a powerful set of rules for ensuring honest trading on its own platform. For data encryption purposes, it supplies an industry-standard secure socket layer (SSL).
In accordance with the company's privacy regulations, client data is never to be shared with some other institutions or individuals. This includes credit history and other financial details.
Bitfinex Review - Awards
- At the time of writing this Bitfinex review, they had not received any awards.
Bitfinex Review - Minimum Deposit Required
The minimum deposit you must deposit to begin on Bitfinex is $100. This is an adequate amount for people just beginning. You can make more advanced deposits as you cooperate. But, make certain that you understand how to make the most of your money before investing in larger amounts.
Bitfinex Review - Commission And Fees Explained
Bitfinex is an online brokerage platform, and many online brokerages charge lower prices than traditional brokerages tend to bill. The cause of this is that the companies of online brokerages are scaled better. That is, an internet broker isn't necessarily affected by the amount of customers they have.
However, this does not necessarily mean that online brokers don't charge any fees. They charge fees of varying rates for various services to earn money. There are primarily three different types of penalties for this purpose.
The first sort of fees to look out for are trading charges. When you make a genuine trade, like buying a stock or an ETF, you are charged trading fees. In such cases, you're spending a spread, financing rate, or even a commission. The kinds of trading charges and the rates vary from broker to broker.
Commissions can be fixed or dependent on the traded volume. On the other hand, a spread refers to the difference between the buying and selling price. Funding or overnight prices are people who are charged when you maintain a leveraged position for more than daily.
Aside from trading charges, online agents also bill non-trading fees. These are dependent on the activities you undertake in your account. They're charged for operations like depositing cash, not trading for long periods, or withdrawals.
In general, Bitfinex doesn't charge high fees in comparison to other online agents. For operations other agents charge for, they do not charge a broker fee, or they charge a smaller sum. This can be beneficial for people who often trade, for example daily or weekly trading.
However, non-trading fees billed by Bitfinex are relatively higher. Consequently, you are charged more for non-trading actions in your trading account, such as withdrawal and deposits. These aren't about the sale and purchase of resources.
This Bitfinex review breaks down each of the relevant non-trading charges for you in detail.
Compare broker fees against Bitfinex
Bitfinex Review - Withdrawal Fees ExplainedBitfinex doesn't charge withdrawal fees
Withdrawal of money is possible at any moment from the Bitfinex account. It's possible to draw sums up to the sum of your account balance, keeping aside the margin used. One thing to remember is that you don't necessarily need to have any money on your accounts.
In addition, the withdrawn money will be transferred directly to the account you use to create deposits. Therefore, in the event that you used a credit card for deposits, the withdrawn cash is going to be sent to the card. Bitfinex will ask you to provide other withdrawal methods in case your details have changed since your deposit.
There is a minimum withdrawal amount. In case you're withdrawing money in different currencies from USD, a conversion fee is also applicable. The conversion fee will be dependent on the money you are opting to draw in.
Bitfinex Review - Inactivity Fees Explained
Understanding whether you will be charged inactivity fees is only one of the buzzing questions which run through your mind while open an account with Bitfinex. An inactivity fee is an amount charged to registered traders that haven't engaged in buying or selling for a while. The period considered inactive is decided by the agent.
The inactivity fee differs from 1 agent to another and is not standardized. If a dealers account does not have a buying or selling trade, it's claimed by the broker as an inactivity charge. The traders have to pay this commission under conditions and terms they had agreed while registering.
Bitfinex doesn't charge inactivity fees so you are free to pop in and out of your account as needed
Even if no charges have been implied by Bitfinex, it's better that you close the account if you are inactive. Inactivity fees aren't just charged by brokerage firms but also many financial services.
For additional trading platforms, the inactivity fee depends upon the type of account you have chosen. The inactivity fee is exposed to many circumstances and should be revealed clearly by the agent beforehand.
Bitfinex Review - Deposit Fees Explained
When you transfer money into your trading account from your bank account, a deposit fee can be charged by the broker. Most brokers do not charge too much money for this operation.
Bitfinex doesn't charge deposit fees so you are free to transfer smaller amounts of money in more regularly if needed
Depositing money on the Bitfinex trading platform is simple. You just have to finish a single-user profile questionnaire to begin depositing money into your trading account. You will have to provide an identity proof and evidence of residency to deposit large sums.
Bitfinex Review - Compare Broker Deposit Methods
What Can You trade With Bitfinex?
Note: Bitfinex provides a lot of different trading instruments due to regulatory restrictions in various countries. Trading instruments offered can differ depending on the country of residence of the client.
Bitfinex has a wide variety of over 55 instruments available for you to trade with.
If trading forex pairs is of interest to you then Bitfinex offer over currency pairs.
Compare Bitfinex, Binary.com, Barclays & Daw Trading below.
Alternatives To Bitfinex
If, after studying this Bitfinex review, Bitfinex doesn't quite meet your needs check out these Bitfinex alternatives.
We've scoured the web to find the best alternatives to Bitfinex. Click on the links below to learn more.
Frequently Asked Questions about Bitfinex
Can I try Bitfinex before I buy?
Yes, you can most certainly try Bitfinex before you buy. Bitfinex offers demo accounts for the ease of inexperienced traders. You may use this feature to build your faith in the machine and yourself and your trading strategies.
If you sign up for a demo account on Bitfinex, you may set out with a decent amount of virtual currency. It is to establish a sense of security and confidence in you before you decide to invest your own money.
With this digital Bitfinexdemo account, you are able to experiment at all, to whatever length you desire. You can even start positions, examine different trading approaches, and more.
Bitfinex specifies on its official website that you are able to exchange real time stocks with your demo account.
Is Bitfinex safe?
You can drop all your worries because we believe that Bitfinex is completely safe to use. It is in compliance with the rules of Financial Services Provider (FSP).
Nevertheless, Bitfinex doesn't provide assured stop-loss protection.
Why does Bitfinex ask for my passport?
The reason that Bitfinex asks for your passport when you open a live account is to ensure that it remains within the rules of its regulated bodies. Because there is a lot of money moving around the world, Bitfinex has to be careful that they don't breach any money laundering laws and part of that is know as KYC (Know your customer). This means that at all times, Bitfinex must know exactly who they are dealing with so that if there is any investigation they are comfortable that they are well within the law.
How can I start trading with Bitfinex?
The process to start trading withBitfinex is perhaps simple enough to be a cakewalk. You need to begin by signing up on the Bitfinex website. It will require you to fill in details pertaining to the credibility and security of your account.
Once you are done setting up your profile, you must deposit a minimum amount to get started. The minimum deposit for a live acocunt with Bitfinex is $100. You should have a good hold over the nuances of online trading before you set out and trade with real money.
If you are confident of your knowledge and understanding, you can open an account with Bitfinex.
The best way to kickstart your trading career with Bitfinex is to open a demo account facility before risking any real money
What funding methods do Bitfinex accept?
There are a number of methods to fund your accounts with Bitfinex. The process is effortless and quick, with various payment methods at your fingertips.
You can use credit or debit cards Which range from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal can be at your disposal for depositing money. You have to bear in mind that PayPal isn't available in every country. The monies Bitfinex
Is my money safe with Bitfinex?
Yes, your cash is safe and secure with Bitfinex. As you already know, Bitfinex operates with good conformation to. It's established plenty of measures to protect all its investors.
Bitfinex safeguards its customers' private and sensitive data under SSL encryption. Your funds will be retained highly secure in top-tier banks.
If you want to further safeguard your accounts, it is possible to empower Two-Step Verification as well. It takes an SMS affirmation for you to access your accounts.
Is Bitfinex trading good?
Yes, trading via Bitfinex is a pleasant and good experience indeed. It is an excellent and intuitive platform with useful features for your simplicity. In addition, you could even obtain access to a huge collection of educational tools and assistive substance to kickstart your trading experience.
If you are still skeptical, it is possible to start a eToro demo account and assess the trustworthiness of the platform for yourself.
Which Countries does Bitfinex support?
Bitfinex operates around the globe. However, due to regulations there are some countries that Bitfinex can't accept clients from
Is Bitfinex legit?
Bitfinex is a legit company headquarted in New Zealand since 2015. They are regulated by Financial Services Provider (FSP). Bitfinex is an acclaimed fintech company, which operates with transparency. You will not have to bear any hidden costs or be a victim to any scams.
Is Bitfinex a good broker?
Bitfinex is an excellent agent, and its own users can vouch for it. The highlight of the platform is its fast order execution on trades.
You'll find the clean design of this platform and the commendable features a pleasure to work with.
Is Bitfinex a trustworthy broker?
Yes, Bitfinex is a trustworthy broker. Top-tier financial authorities regulate all operations. Over 10,000+ users registered with them can reaffirm their trustable nature.
What is the minimum deposit for Bitfinex?
The minimum deposit to open a live account with Bitfinex is $100
How long do Bitfinex withdrawals take?
Normally, withdrawal of money from Bitfinex is actioned within a couple of working days but depending on the withdrawal method chosen, it could take up to 7 working days for the withdrawal from Bitfinex to show in your bank account.
Are Bitfinex regulated?
Bitfinex are regulated by Financial Services Provider (FSP)
Is Bitfinex a market leading broker?
Bitfinex is indisputably one of the business leaders. It has over 10,000+ registered customers and over 6 years of experience on its own record. They're among the world's top trading platforms and a prominent figure in the Fintech revolution.
It simplifies this standing to its unbelievable platform and wide range of tools plus resources so that you can put money into capital markets.
Is Bitfinex a con?
No, Bitfinex is not a con. They are regulated by Financial Services Provider (FSP) and must adhere to their rules. Thus, it is safe to say that Bitfinex is not a scam.
Can you make money with Bitfinex?
Through Bitfinex, many traders make a great deal of money. But typically, through continual trading, you can make between 2% - 10% profit a month.
This may seem like a small number, but over the year, this adds to a significant number of gains. Even though Bitfinex provide you all the tools to earn money, they cannot guarantee you will gain.
Does Bitfinex have fees?
Yes. To start trading using Bitfinex, you have to deposit $100. Particular commissions while trading additionally apply. Any processing fees from your bank might have to be incurred by you.
When was Bitfinex founded?
Bitfinex was founded in 2015 in New Zealand. Bitfinex is regulated by Financial Services Provider (FSP).
How many people use Bitfinex?
Bitfinex is a worldwide recognised agent with 10,000+ clients.
Where is the Bitfinex head office?
Bitfinex has its head office in New Zealand
Does Bitfinex offer negative balance protection?
No. Bitfinex doesn't offer negative balance protection. If your balance is unfavorable, Bitfinex indicates that you contact client services. With this, you can correct any imbalances within your account.
Does Bitfinex offer guaranteed stop loss?Bitfinex regrettably, doesn't provide guaranteed stop loss. Bitfinex gives a chance to its dealers to close their trade at their given price. Apart from this, Bitfinex doesn't offer guaranteed stop loss.
Does Bitfinex allow scalping?Yes, Bitfinex do allow scalping. Many traders throughout the world select Bitfinex due to their scalping services. They offer trading on Android Apps,iPhone/iPad,Desktop which let this.
Does Bitfinex allow hedging?
Yes, Bitfinex does allow hedging.
Can you trade energies with Bitfinex?
Yes, you can trade energy stocks with Bitfinex
Can you trade agricultural shares with Bitfinex?
Yes, you can trade agricultural stocks with Bitfinex
Can you trade cryptocurrency with Bitfinex?
Yes, you can trade cryptocurrency with Bitfinex
Can you trade metals with Bitfinex?
Yes, you can trade metals with Bitfinex
Can you trade UK Shares with Bitfinex?
No, unfortunately you cannot trade UK shares with Bitfinex
Can you trade US Shares with Bitfinex?
Yes, you can trade US shares with Bitfinex
Can you trade Japanese Shares with Bitfinex?
No, unfortunately you cannot trade Japanese shares with Bitfinex
Can you trade German Shares with Bitfinex?
No, unfortunately you cannot trade German shares with Bitfinex
Does Bitfinex accept bank transfers?
No, Bitfinex does not accept bank transfers.
Does Bitfinex accept credit cards?
No, Bitfinex does not accept credit cards.
Does Bitfinex accept PayPal?
No, Bitfinex does not accept PayPal.
Does Bitfinex accept Skrill?
No, Bitfinex does not accept Skrill.
Does Bitfinex accept Payoneer?
No, Bitfinex does not accept Payoneer.
Does Bitfinex accept Neteller?
No, Bitfinex does not accept Neteller.
Does Bitfinex offer Live Chat customer support?
No, Bitfinex does not offer customer support through live chat.
Does Bitfinex offer phone customer support?
No, Bitfinex does not offer customer support over the telephone.
Does Bitfinex offer email customer support?
No, Bitfinex does not offer customer support through email.
What languages can Bitfinex communicate in?
Bitfinex has the ability to communicate and support customers who speak:
Does Bitfinex have a wikipedia page?
No, Bitfinex does not have an official wikipedia page.
Does Bitfinex offer demo accounts?
Yes, Bitfinex offers demo accounts so you can learn their systems before risking any real money.