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 are a new entrant in the realm of trading and brokerage, so many facts will be confusing for you. Getting into the world of trading demands expert assessing skills and thorough understanding. You will get proficient at all the concepts of broker since you continue trading. For starters, you have to select the right broker who will be clear with you always.
Within this fast-paced world of stock markets and trading, you will need guidance to make correct decisions. A professionally direct investment plan will generate hefty returns. Bitfinex is just one such platform that will take you and your investment to great heights. It is important to understand all about Bitfinex before you trust them with your money.
Our full Bitfinex Review covers all you will need to learn about trading with Bitfinex. A fantastic broker can multiply your initial investments and provide you favorable profits. If you want to earn profits, you should trade with a broker service that contrasts with your investing goals.
There is no sure-fire way to guarantee profits; thus, you must carefully analyze your agent before you choose them. It's a common misconception that all agents will be exactly the same, but that is not correct. Wrong judgment, in the beginning, can put your investments in danger.
Bitfinex is a broker that has found its way successfully to the brokerage world. In this review, we've attempted to collate some of the important facets of Bitfinex. This review will help you to understand whether Bitfinex is a good fit for your own investments or not. We have attempted to breakdown all of the qualities and fees 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 range of tools for trading. Since its beginning in 2015, Bitfinex has emerged as a top player in the industry of online broker. Bitfinex includes a highly competitive and full-featured trading site that's focused on forex, indices, metals, shares, commodities.
Over the past 6 years, Bitfinex has grown into one of the leading online brokers.
After launching in 2015, their customer base has become as large as 10,000+ clients.
Bitfinex is the favorite of many traders.. Our Bitfinex review found that they're an excellent choice for automated trading solutions. It is best suited for investors that are searching for an assortment of assets. Social and automated trading options are the core at Bitfinex.
Technology plays a substantial role in Bitfinex. Bitfinex features trading on Android Apps,iPhone/iPad,Desktop. Bitfinex is honest, transparent, and also a well-regulated agent by the Financial Services Provider (FSP). Their outstanding array of resources will be beneficial for the majority of traders. Third-party partnerships also provide in-house research.
The trader resource department at Bitfinex is very enlightening for new dealers as it permits them to have a closer look at the financial markets. Bitfinex caters to all types of traders and are a must-have broker for any well-diversified method of 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.
What you ought to know about trading with Bitfinex
Bitfinex is a dynamic platform that provides various methods of trading online. These tools cover the financial markets considerably. The Majority of the brokerage platforms offer fewer methods than Bitfinex
If you would like to trade with Bitfinex, you will require a minimum deposit of $100. This deposit is compulsory if you wish to start trading using Bitfinex. This 2021 Bitfinex review will direct you clearly about trading with them.
Bitfinex is as flexible as any other broker platform. Bitfinex is ideal for traders that want a manageable selection of cheap services. The platforms offered by Bitfinex are third-party, white-label offerings. All traders can select out of Android Apps,iPhone/iPad,Desktop.
Together 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 must be kept available. The brokers provide premium client service which rewards customers with advantages.
Many less reputable brokers try to pressurise customers into bigger financing for superior 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 user, the more advantages will become available.
Bitfinex accounts are available all over the world and provides quality service everywhere they have customers. There are some select 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 2015, Bitfinex has been in operation for 6 years, they are headquarted in New Zealand.
Bitfinex is regulated by Financial Services Provider (FSP). These bodies have rules that ensure that trading platforms have ploicies in place to keep investor's resources secured. This usually means that Bitfinex users do not need to be worried about their money as it is segregated and safely kept in established banks. SSL encryption secures every user's private information as well.
You are able to make use of an option for Two Factor Authentications (2FA) with Bitfinex for increased security. An SMS with the confirmation code will be sent to your mobile phone. You'll be asked to input this code to log in to your accounts.
Another concern with fiscal brokers with respect to security may be manipulation of trading. This is highly disadvantageous to users on those platforms. However, this is more widespread in the example of Market Maker agents who compete with users on the platform.
Pro's & Con's Of Trading With Bitfinex
Every online trading platform will have a few pros and cons 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
|Bitfinex||Interactive Brokers||Ustocktrade||DF Markets|
|Headquarters||New Zealand||United States||United States||UK|
|Regulated By||Financial Services Provider (FSP)||Financial Conduct Authority (FCA)||Securities and Exchange Commission (SEC)||Financial Conduct Authority (FCA)|
|Find Out More|
|Risk Warning||Your capital is at risk||Losses can exceed deposits||Your capital is at risk||Losses can exceed deposits|
Bitfinex Review - Regulation And Licencing In More Detail
Bitfinex is regulated by Financial Services Provider (FSP).
Bitfinex, as a business, has a powerful collection of rules for ensuring honest trading onto its own platform. For data encryption purposes, it provides an industry-standard secure socket layer (SSL).
As per the company's privacy regulations, customer information is to not be shared with some other institutions or individuals. This includes credit history and other financial information.
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 that you need to begin on Bitfinex is $100. This is a decent amount for those just beginning. You can create more complex residue as you go along. But, make certain that you understand how to make the most of your money before investing in larger sums.
Bitfinex Review - Commission And Fees Explained
Bitfinex is an online broker platform, and most 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. In other words, an internet broker isn't necessarily influenced by the amount of customers they have.
But this doesn't necessarily mean that online brokers do not charge any fees. They charge prices of varying rates for a variety of services to earn money. There are mainly three different types of fees for this objective.
The first kind of charges to look out for are trading charges. When you make an actual trade, like buying a stock or an ETF, you are charged trading fees. In these cases, you are spending a spread, funding speed, or a commission. The sorts of trading fees and the prices vary from broker to broker.
Commissions could be fixed or determined by the traded volume. On the other hand, a spread denotes the gap between the buying and selling price. Funding or overnight prices are those who are charged when you hold a leveraged position for more than a day.
Aside from trading charges, online agents also bill non-trading fees. These are dependent on the actions you undertake in your accounts. They are billed for operations like depositing money, not trading for lengthy periods, or withdrawals.
Generally, Bitfinex does not charge high fees compared to other online brokers. For operations other brokers charge for, they either do not charge a brokerage fee, or they charge a smaller sum. This can be beneficial for people who often trade, such as weekly or daily trading.
But, non-trading fees billed by Bitfinex are comparatively competitive. As a result, you're charged more for non-trading actions on your trading accounts, like deposits and withdrawal. These are not 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||Interactive Brokers||Ustocktrade||DF Markets|
|Withdrawal Fees||$10||10 USD||variable||No|
Bitfinex Review - Withdrawal Fees ExplainedBitfinex doesn't charge withdrawal fees
Withdrawal of cash is possible at any moment from the Bitfinex account. It's possible to draw up sums to the sum of your account balance, keeping aside the perimeter utilized. One thing to remember is that you don't necessarily need to have any cash on your accounts.
In addition, the withdrawn money will be moved directly to the account you use to make deposits. Thus, if you used a credit card for deposits, then the withdrawn money will be sent to the card. Bitfinex will ask you to provide other withdrawal methods if your details have changed since your deposit.
There is a minimum withdrawal amount. In the event you are withdrawing money in different currencies from USD, a conversion fee is also applicable. The conversion fee will depend on the currency 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 when open an account with Bitfinex. An inactivity fee is an amount charged to registered dealers who haven't engaged in purchasing or selling for a while. The period regarded as inactive is decided by the broker.
The inactivity fee also differs from one agent to another and isn't standardized. If a dealers account doesn't have a purchasing or selling trade, it is maintained by the broker as an inactivity charge. The traders have to pay this commission under terms and conditions they had agreed while enrolling.
Bitfinex doesn't charge inactivity fees so you are free to utilize your account as needed
Even if no charges are implied by Bitfinex, it is best for you to close the account if you're inactive. Inactivity fees aren't just charged by brokerage companies but also many financial services.
For other trading platforms, the inactivity fee depends on the sort of account you have chosen. The inactivity fee is subjected to a lot of conditions and should be revealed clearly by the agent beforehand.
Bitfinex Review - Deposit Fees Explained
When you move money in your trading account by the bank account, a deposit fee can be billed by the broker. Most agents don't charge too much money for this particular operation.
Bitfinex doesn't charge deposit fees so you are free to transfer smaller amounts of money in more regularly if needed
Depositing cash on the Bitfinex trading platform is simple. You just have to complete a single-user profile survey to begin depositing money into your trading account. You'll have to give an identity evidence and evidence of residency to deposit large sums.
Bitfinex Review - Compare Broker Deposit Methods
|Bitfinex||Interactive Brokers||Ustocktrade||DF Markets|
What Can You trade With Bitfinex?
Note: Bitfinex offers a lot of different trading instruments due to regulatory restrictions in a few 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 currency pairs is of interest to you then Bitfinex offer over currency pairs.
Compare Bitfinex, Interactive Brokers, Ustocktrade & DF Markets below.
Alternatives To Bitfinex
If, after reading this Bitfinex review, Bitfinex does not quite meet your requirements check out these Bitfinex alternatives.
We have scoured the web to find the best alternatives to Bitfinex. Click on the links below to find out more.
Frequently Asked Questions about Bitfinex
Can I try Bitfinex before I buy?
Yes, you can most definitely try Bitfinex before you buy. Bitfinex provides demo accounts for the ease of beginner traders. You can use this feature to build your faith in the system as well as 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 money. It's to establish a sense of security and confidence in you until you decide to invest your own money.
With this virtual Bitfinexdemo account, you are able to experiment at all, to whatever length you desire. You might also start positions, examine different trading strategies, and much more.
Bitfinex specifies on its official site that you are able to exchange real time stocks in a demo account.
Is Bitfinex safe?
You can drop all your worries since we believe that Bitfinex is completely safe to use. It is in compliance with the rules of Financial Services Provider (FSP).
Even so, Bitfinex does not 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 ways to finance your account with Bitfinex. The process is effortless and quick, with different payment methods in your fingertips.
You can use credit or debit cards ranging from Visa, Diners, and Maestro to MasterCard and Visa Electron. PayPal is also at your disposal for depositing funds. You have to keep in mind that PayPal isn't available in all place. The currencies Bitfinex
Is my money safe with Bitfinex?
Yes, your money is safe and secure with Bitfinex. As you already know, Bitfinex works with proper conformation to. It's established lots of measures to guard all its own investors.
Bitfinex safeguards its clients' private and sensitive data under SSL encryption. Your capital will be kept highly secure in top-tier banks.
If you wish to further protect your accounts, you can empower Two-Step Verification also. It takes an SMS affirmation for you to access your account.
Is Bitfinex trading good?
Yes, trading via Bitfinex is a pleasant and good experience indeed. It is a great and intuitive platform with useful features for your simplicity. Moreover, you can even obtain access to a huge selection of educational resources and assistive substance to kickstart your trading expertise.
If you remain skeptical, it is possible to open a eToro demo account and evaluate the trustworthiness of the platform on your own.
Which Countries does Bitfinex support?
Bitfinex operates across 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 a great broker, and its own users may vouch for this. The highlight of this platform is its quick order execution on transactions.
You'll find the clean layout of this platform along with 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 currently among the industry leaders. It supports over 10,000+ registered users and over 6 years of experience on its own record. They're one of the world's top trading platforms and a prominent figure in the Fintech revolution.
It majorly owes this status to its incredible platform and wide selection of tools plus resources so 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?
Using Bitfinex, many traders make a great deal of money. But typically, through consistent trading, you can make between 2% - 10% profit a month.
This may seem to be a little number, but over the entire year, this adds to a significant number of gains. While Bitfinex supply you all of the tools to earn money, they can't guarantee you will profit.
Does Bitfinex have fees?
Yes. To start trading with Bitfinex, you need 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 globally recognised broker 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 does not provide negative balance protection. If your balance is negative, Bitfinex indicates that you contact client services. For this, you are able to correct any imbalances within your account.
Does Bitfinex offer guaranteed stop loss?Bitfinex unfortunately, doesn't offer guaranteed stop loss. Bitfinex gives a chance for its traders to close their trades in their given price. Aside from that, Bitfinex does not offer guaranteed stop loss.
Does Bitfinex allow scalping?Yes, Bitfinex do allow scalping. Several traders across the world choose Bitfinex for 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.