Bithumb Guide – Read our In-Depth Bithumb Review
This Bithumb 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 Bithumb review does not apply to US users.
If you are a new entrant in the realm of trading and brokerage, so many facts will be perplexing for you. Getting into the world of trading requires expert analyzing skills and thorough understanding. You'll get adept at all the concepts of brokerage as you keep trading. For starters, you have to select the right broker who will be clear with you always.
Within this fast-paced universe of stock markets and trading, you'll need guidance to make proper decisions. A professionally direct investment program will create hefty returns. Bithumb is one such stage which will take you and your investment into great heights. It is crucial that you know about Bithumb until you trust them with your money.
Our full Bithumb Review covers everything you will need to know about trading with Bithumb. A good broker can multiply your first investments and provide you favorable profits. If you would like to make profits, you must trade with a broker service that aligns with your investing goals.
There's absolutely no sure-fire method to guarantee profits; therefore, you should carefully assess your broker before you choose them. It's a common misconception that all brokers will be exactly the same, but that is not correct. Wrong judgment, initially, can set your investments at risk.
Bithumb is a broker that has forged its way successfully to the brokerage world. Within this review, we've tried to collate some of the important aspects of Bithumb. This review can help you to know whether Bithumb is a fantastic fit for your own investments or not. We have tried to breakdown all of the qualities and charges for your advantage.
Bithumb Review, Table Of Contents
- Who are Bithumb?
- Benefits Of Trading With Bithumb
- Everything you should know about trading with Bithumb
- Is Bithumb Safe To Trade With?
- Pro's & Con's Of Trading With Bithumb?
- Compare Brokers Similar To Bithumb
- Regulation And Licencing In More Detail
- Bithumb Awards
- Minimum Deposit Required For A Live Account With Bithumb
- Bithumb Commission And Fees Explained
- Compare broker fees against Bithumb
- Bithumb Withdrawal Fees Explained
- Bithumb Deposit Fees Explained
- Compare Broker Deposit Methods
- What Can You Trade With Bithumb?
- Alternatives To Bithumb
- Frequently Asked Questions About Bithumb
Who are Bithumb?
Bithumb is a foreign exchange broker headquartered in Hong Kong and provides a range of tools for trading. Since its inception in 2009, Bithumb has emerged as a top player in the field of online broker. Bithumb includes an extremely competitive and full-featured trading site that is focused on forex, indices, metals, stocks , commodities.
Over the past 12 years, Bithumb has grown into one of the leading online brokers.
After establishing in 2009, their consumer base is becoming as big as 10,000+ clients.
Bithumb is a favorite for many dealers.. Our Bithumb review discovered that they are an superb choice for automated trading solutions. They're most appropriate for investors that are looking for a variety of assets. Social and automated trading solutions are the core at Bithumb.
Technology plays a significant role at Bithumb. Bithumb offers trading on iPhone/iPad,iOS,Mac. Bithumb is honest, transparent, and a well-regulated broker by the Unregulated. Their outstanding variety of resources will be beneficial for the majority of traders. Third-party partnerships also supply in-house research.
The educational department at Bithumb is quite insightful for new traders as it permits them to get a closer look in the financial markets. Bithumb caters to all sorts of traders and are a must-have broker for any well-diversified approach to trading.
If you feel that Bithumb is not right for you then at the bottom of this Bithumb review you wil find a lot of alternatives to Bithumb.
What you ought to know about trading using Bithumb
Bithumb is a lively platform that offers various methods of online trading. These tools cover the financial markets substantially. Most of the brokerage platforms offer fewer methods than Bithumb
If you wish to exchange with Bithumb, you'll need a minimum deposit of $500. This deposit is compulsory if you would like to start trading with Bithumb. This 2021 Bithumb review will guide you easily about trading with them.
Bithumb is as versatile as any other broker platform. Bithumb is great for traders who want a manageable assortment of low-cost services. The platforms supplied by Bithumb are third-party, white-label offerings. All traders may choose from iPhone/iPad,iOS,Mac.
Along with everything, Bithumb has multiple benefits to new and verteran traders and should be investigated. There's absolutely no minimum time over which a transaction has to be kept open. The agents provide premium client service that rewards clients with advantages.
Many unethical brokers try to pressurise customers into bigger funding for superior services. Bithumb, on the other hand, is much more concentrated on trading volume. Dealers can expect trading conditions to be just, honest and transparent. The more lots traded by the consumer, the greater advantages will come along.
Bithumb accounts are available around the world and provides excellent service wherever they have customers. There are only a select few countries where Bithumb accounts are not available. Traders in the following countries cannot open or use a Bithumb account:
Is Bithumb Safe To Trade With?
Established in 2006, Bithumb has been open for 12 years, they are headquarted in Hong Kong.
Bithumb is regulated by Unregulated. These bodies have rules that mandate that trading platforms have ploicies in place to keep investor's assets procured. This usually means that Bithumb users don't need to worry about their money as it is segregated and safely kept in established banks. SSL encryption secures every user's personal information also.
You are able to make use of a choice for Two Factor Authentications (2FA) with Bithumb for heightened safety. An SMS with the verification code will be sent to a mobile phone. You'll be required to input this code to log in to your accounts.
Another concern with fiscal brokers is in regards to safety may be manipulation of trading. This is highly disadvantageous to consumers on these platforms. However, this is more prevalent in the example of Market Maker brokers who compete with customers on the stage.
Pro's & Con's Of Trading With Bithumb
Every online trading platform will have a few ups and downs, and no Bithumb review would be complete without showing both sides. This Bithumb 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.
- Bithumb is trusted by 10,000+ clients
- Bithumb doesn't charge withdrawal fees
- Bithumb doesn't charge inactivity fees
- Bithumb doesn't charge deposit fees
- Bithumb doesn't charge CFD fees
- Bithumb offer trading on iPhone/iPad,iOS,Mac
- Bithumb offer 56 trading instruments
- Bithumb trades major forex pairs
- Bithumb offers trading on cryptocurrencies
- Bithumb can communicate in
- Bithumb does not offer Negative Balance Protection
- Bithumb does not offer Guaranteed Stop Loss
- Bithumb doesn't trade minor forex pairs
- Bithumb doesn't trade exotic forex pairs
Bithumb Review - Compare Brokers Similar To Bithumb
|Bithumb||FXNet||Spreadex||Euro Pacific Bank|
|Headquarters||Hong Kong||Cyprus||UK||Puerto Rico|
|Regulated By||Unregulated||Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC)||Financial Conduct Authority (FCA)||Office of the Commissioner of Financial Institutions (OCIF)|
|Find Out More|
|Risk Warning||Your capital is at risk||Your capital is at risk||Losses can exceed deposits||Your capital is at risk|
Bithumb Review - Regulation And Licencing In More Detail
Bithumb is regulated by Unregulated.
Bithumb, as a business, has a strong collection of rules for ensuring honest trading on its own platform. For information encryption functions, it supplies an industry-standard secure socket layer (SSL).
As per the organization's privacy regulations, client information is to not be shared with any other institutions or individuals. This includes credit history and other financial information.
Bithumb Review - Awards
- At the time of writing this Bithumb review, they had not received any awards.
Bithumb Review - Minimum Deposit Required
The minimum deposit that you must deposit to get started on Bithumb is $500. This is an adequate amount for those just starting out. You can make more complex residue as you go along. However, make certain you understand how to make the most of your money before investing larger amounts.
Bithumb Review - Commission And Fees Explained
Bithumb is an online brokerage platform, and many online brokerages charge lower fees than traditional brokerages tend to charge. The reason for this is that the companies of online brokerages are scaled better. That is, an online broker isn't necessarily influenced by the number of clients they have.
However, this does not mean that online brokers do not charge any fees. They charge fees of varying rates for various services to earn money. There are primarily 3 different types of penalties for this purpose.
The first kind of charges to keep an eye out for are trading fees. Whenever you make a genuine trade, like buying a stock or an ETF, you're billed trading fees. In these cases, you are spending a spread, financing rate, or a commission. The kinds of trading fees and the prices vary from broker to broker.
Commissions could be fixed or dependent on the traded quantity. On the flip side, a spread denotes the difference between the buying and selling cost. Financing or overnight prices are people who are billed when you hold a leveraged position for longer than a day.
Aside from trading fees, online agents also charge non-trading fees. These are dependent on the actions you undertake in your accounts. They're billed for operations like depositing money, not investing for long periods, or withdrawals.
Generally, Bithumb doesn't charge high fees in comparison to other online agents. For operations other agents fee for, they either do not charge a broker fee, or they charge a smaller sum. This can be beneficial for people who often exchange, for example weekly or daily trading.
However, non-trading fees billed by Bithumb are comparatively higher. As a result, you're billed more for non-trading actions on your trading accounts, like deposits and withdrawal. These aren't related to the purchase and sale of resources.
This Bithumb review breaks down every one of the applicable non-trading charges for you in detail.
Compare broker fees against Bithumb
|Bithumb||FXNet||Spreadex||Euro Pacific Bank|
Bithumb Review - Withdrawal Fees ExplainedBithumb doesn't charge withdrawal fees
Withdrawal of cash is possible at any moment from the Bithumb account. You can withdraw up sums to the amount of your account balance, keeping aside the margin used. 1 thing to remember is that you don't always have to have any cash in your accounts.
Moreover, the withdrawn money will be transferred directly to the account you use to create deposits. Thus, in the event that you used a credit card for deposits, then the withdrawn cash will be sent to the card. Bithumb will ask you to provide other withdrawal methods if your details have changed since your deposit.
There is a minimum withdrawal amount. In case you're withdrawing cash in various currencies from USD, a conversion fee is also important. The conversion fee will depend on the currency you're choosing to draw in.
Bithumb Review - Inactivity Fees Explained
Understanding whether you will be charged inactivity fees is one of those buzzing questions which run through your mind while open an account with Bithumb. An inactivity fee is an amount charged to registered traders who haven't engaged in buying or selling for a while. The period considered inactive is decided by the agent.
The inactivity fee also differs from 1 broker to another and is not generalized. If a traders account does not have a purchasing or selling trade, it's claimed by the agent as an inactivity charge. The traders have to pay this commission under terms and conditions they had agreed while enrolling.
Bithumb doesn't charge inactivity fees so you are free to utilize your account as needed
Even if no charges have been indicated by Bithumb, it's best for you to close the account if you're inactive. Inactivity fees aren't only charged by brokerage companies but also many financial services.
For additional trading platforms, the inactivity fee depends upon the type of account you have selected. The inactivity fee is subjected to many circumstances and needs to be disclosed clearly by the broker beforehand.
Bithumb Review - Deposit Fees Explained
When you move money in your trading account by your bank account, a deposit fee can be charged by the broker. Most brokers do not charge an excessive amount of money for this particular operation.
Bithumb doesn't charge deposit fees so you are free to transfer smaller amounts of money in more regularly if needed
Depositing cash on the Bithumb trading platform is simple. You just need to finish a single-user profile survey to begin depositing money into your trading account. You'll need to give an identity evidence and evidence of residency to deposit substantial amounts.
Bithumb Review - Compare Broker Deposit Methods
|Bithumb||FXNet||Spreadex||Euro Pacific Bank|
What Can You trade With Bithumb?
Note: Bithumb provides a lot of different trading instruments due to regulatory restrictions in some countries. Trading instruments offered can be different depending on the country of residence of the client.
Bithumb has a wide variety of over 56 instruments available for you to trade with.
If trading forex pairs is of interest to you then Bithumb offer over currency pairs.
Compare Bithumb, FXNet, Spreadex & Euro Pacific Bank below.
Alternatives To Bithumb
If, after studying this Bithumb review, Bithumb doesn't quite fulfill your needs check out these Bithumb alternatives.
We've scoured the web to find the best alternatives to Bithumb. Click the links below to learn more.
Frequently Asked Questions about Bithumb
Can I try Bithumb before I buy?
Yes, you can most certainly try Bithumb before you buy. Bithumb provides demo accounts for the ease of new traders. You may use this feature to build your faith in the system as well as yourself and your trading strategies.
If you register for a demo account on Bithumb, you may set out with a decent amount of virtual currency. It is to establish a sense of safety and confidence in you before you decide to spend your own money.
With this digital Bithumbdemo account, you can experiment in any way, to whatever period you wish. You can even open positions, examine different trading approaches, and more.
Bithumb specifies on its official site which you are able to exchange real time stocks with your demo account.
Is Bithumb safe?
It is possible to drop all your worries because we believe that Bithumb is totally safe to use. It is in compliance with the principles of Unregulated.
Nevertheless, Bithumb doesn't provide assured stop-loss protection.
Why does Bithumb ask for my passport?
The reason that Bithumb 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, Bithumb 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, Bithumb 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 Bithumb?
The process to start trading withBithumb is perhaps simple enough to be a cakewalk. You need to begin by signing up on the Bithumb 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 Bithumb is $500. 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 Bithumb.
The best way to kickstart your trading career with Bithumb is to open a demo account facility before risking any real money
What funding methods do Bithumb accept?
There are a number of ways to fund your accounts with Bithumb. The process is effortless and quick, with different payment methods in your fingertips.
You can use debit or credit cards Which range from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal is also at your disposal for depositing funds. You have to bear in mind that PayPal is not available in every place. The monies Bithumb
Is my money safe with Bithumb?
Yes, your money is safe and protected with Bithumb. As you already know, Bithumb operates with proper conformation to. It has established plenty of measures to guard all its investors.
Bithumb protects its clients' personal and sensitive information under SSL encryption. Your funds will be kept highly secure in top-tier banks.
If you wish to further safeguard your accounts, it is possible to empower Two-Step Verification also. It requires an SMS confirmation that you access your accounts.
Is Bithumb trading good?
Yes, trading via Bithumb is a pleasant and good experience indeed. It is an excellent and intuitive platform with useful features for your simplicity. In addition, you can also gain access to a huge collection of educational tools and assistive material to kickstart your trading experience.
If you remain skeptical, it is possible to open a eToro demo account and assess the credibility of the platform for yourself.
Which Countries does Bithumb support?
Bithumb operates around the globe. However, due to regulations there are some countries that Bithumb cannot accept clients from
Is Bithumb legit?
Bithumb is a legit company headquarted in Hong Kong since 2009. They are regulated by Unregulated. Bithumb 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 Bithumb a good broker?
Bithumb is an excellent broker, and its users can vouch for this. The highlight of the platform is its quick order execution on transactions.
You'll discover the clean layout of the platform and the commendable features a pleasure to work with.
Is Bithumb a trustworthy broker?
Yes, Bithumb 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 Bithumb?
The minimum deposit to open a live account with Bithumb is $500
How long do Bithumb withdrawals take?
Normally, withdrawal of money from Bithumb 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 Bithumb to show in your bank account.
Are Bithumb regulated?
Bithumb are regulated by Unregulated
Is Bithumb a market leading broker?
Bithumb is currently one of the industry leaders. It has over 10,000+ registered users and over 12 years of expertise on its record. They are among the world's top trading platforms and also a dominant figure in the Fintech revolution.
It majorly owes this standing to its incredible platform and wide range of resources plus tools so that you can invest in capital markets.
Is Bithumb a con?
No, Bithumb is not a con. They are regulated by Unregulated and must adhere to their rules. Thus, it is safe to say that Bithumb is not a scam.
Can you make money with Bithumb?
Through Bithumb, several traders make a great deal of cash. However, on average, through consistent trading, you can make between 2% - 10% profit a month.
This may seem to be a small number, but within the entire year, this adds to a substantial amount of gains. Even though Bithumb provide you all of the tools to earn money, they can't guarantee that you will profit.
Does Bithumb have fees?
Yes. To begin trading with Bithumb, you need to deposit $500. Particular commissions while trading also applies. Any processing fees from your bank might have to be incurred by you.
When was Bithumb founded?
Bithumb was founded in 2009 in Hong Kong. Bithumb is regulated by Unregulated.
How many people use Bithumb?
Bithumb is a globally recognised broker with 10,000+ customers.
Where is the Bithumb head office?
Bithumb has its head office in Hong Kong
Does Bithumb offer negative balance protection?
No. Bithumb doesn't offer negative balance protection. If your balance is negative, Bithumb indicates you promptly contact customer services. With this, you are able to correct any imbalances in your account.
Does Bithumb offer guaranteed stop loss?Bithumb regrettably, doesn't provide guaranteed stop loss. Bithumb provides a chance for its dealers to close their trades at their specified price. Aside from that, Bithumb does not offer guaranteed stop loss.
Does Bithumb allow scalping?Yes, Bithumb do permit scalping. Many traders across the world choose Bithumb due to their scalping services. They offer trading on iPhone/iPad,iOS,Mac which allow this.
Does Bithumb allow hedging?
Yes, Bithumb does allow hedging.
Can you trade energies with Bithumb?
No, unfortunately you cannot trade energy stock with Bithumb
Can you trade agricultural shares with Bithumb?
No, unfortunately you cannot trade agricultural stock with Bithumb
Can you trade cryptocurrency with Bithumb?
Yes, you can trade cryptocurrency with Bithumb
Can you trade metals with Bithumb?
No, unfortunately you cannot trade metals with Bithumb
Can you trade UK Shares with Bithumb?
No, unfortunately you cannot trade UK shares with Bithumb
Can you trade US Shares with Bithumb?
Yes, you can trade US shares with Bithumb
Can you trade Japanese Shares with Bithumb?
No, unfortunately you cannot trade Japanese shares with Bithumb
Can you trade German Shares with Bithumb?
No, unfortunately you cannot trade German shares with Bithumb
Does Bithumb accept bank transfers?
No, Bithumb does not accept bank transfers.
Does Bithumb accept credit cards?
No, Bithumb does not accept credit cards.
Does Bithumb accept PayPal?
No, Bithumb does not accept PayPal.
Does Bithumb accept Skrill?
No, Bithumb does not accept Skrill.
Does Bithumb accept Payoneer?
No, Bithumb does not accept Payoneer.
Does Bithumb accept Neteller?
No, Bithumb does not accept Neteller.
Does Bithumb offer Live Chat customer support?
No, Bithumb does not offer customer support through live chat.
Does Bithumb offer phone customer support?
No, Bithumb does not offer customer support over the telephone.
Does Bithumb offer email customer support?
No, Bithumb does not offer customer support through email.
What languages can Bithumb communicate in?
Bithumb has the ability to communicate and support customers who speak:
Does Bithumb have a wikipedia page?
No, Bithumb does not have an official wikipedia page.
Does Bithumb offer demo accounts?
Yes, Bithumb offers demo accounts so you can learn their systems before risking any real money.