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're a new entrant in the world of trading and broker, so many facts will be confusing for you. Getting into the world of trading demands expert analyzing skills and comprehensive understanding. You will acquire adept at all of the concepts of broker as you keep trading. For starters, you have to select the right broker who will be clear with you constantly.
Within this fast-paced universe of stock markets and trading, you will need advice to make proper decisions. A professionally direct investment program will create hefty returns. Bithumb is just one such platform which will take you and your investment into great heights. It is crucial to know all about Bithumb before you trust them with your money.
Our full Bithumb Review covers all you need to learn about trading using Bithumb. A fantastic broker can multiply your initial investments and give you favorable profits. If you would like 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; therefore, you must carefully analyze 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 set your investments at risk.
Bithumb is a broker which has found its way successfully into the broker world. In this review, we've attempted to collate some of the important aspects of Bithumb. This review can help you to understand whether Bithumb is a good 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 instruments for online trading. Since its establishment in 2009, Bithumb has emerged as a leading player in the industry of online brokerage. Bithumb includes an extremely aggressive and full-featured trading site that is focused on currency, indices, metals, sharesand 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 the favorite of many dealers.. Our Bithumb review discovered that they are an excellent choice for automated trading solutions. They're best suited for investors who are looking for a variety of assets. Social and automated trading options are the core at Bithumb.
Technology plays a significant role in Bithumb. Bithumb offers trading on iPhone/iPad,iOS,Mac. Bithumb is honest, transparent, and a well-regulated agent by the Unregulated. Their outstanding variety of tools will be beneficial for the majority of traders. Third-party partnerships also supply in-house analysis.
The educational department at Bithumb is very enlightening for new traders as it allows them to get a closer look in the financial markets. Bithumb caters to all types 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.
Everything you should know about trading with Bithumb
Bithumb is a dynamic platform that provides various procedures of trading. These instruments cover the monetary markets considerably. Most of the brokerage platforms provide less methods than Bithumb
If you wish to trade with Bithumb, you will require a minimum deposit of $500. This deposit is compulsory if you want to begin trading with Bithumb. This 2021 Bithumb review will guide you safely about trading with them.
Bithumb is as flexible as another broker platform. Bithumb is great for traders that want a manageable variety of low-cost services. The platforms provided by Bithumb are third-party, white-label offerings. All traders may select out of iPhone/iPad,iOS,Mac.
Together with everything, Bithumb has multiple benefits to new and verteran traders and should be investigated. There's no minimum time on which a transaction has to be kept available. The agents provide premium customer service which rewards customers with benefits.
Many unprofessional brokers attempt to pressurise consumers into larger funding for superior services. Bithumb, on the other hand, is more focused on trading volume. Traders can expect trading conditions to be just, honest and transparent. The more lots traded by the consumer, the further benefits will become available.
Bithumb accounts are available globally and provides outstanding service wherever they have clients. There are a 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 2009, Bithumb has been open for 12 years, they have a head office in Hong Kong.
Bithumb is regulated by Unregulated. These bodies have rules that make sure that trading platforms have measures in place to maintain investor's resources secured. This usually means that Bithumb users do not need to worry about their money as it is segregated and safely stored in banks that are established. SSL encryption secures every user's private information as well.
You are able to make use of a choice for 2 Factor Authentications (2FA) with Bithumb for increased security. An SMS for the confirmation code will be sent to a phone. You'll be asked to input this code to log into your accounts.
Another concern with financial brokers with regards to security might be manipulation of trading. This is highly disadvantageous to users on these platforms. Nonetheless, this is more widespread in the example of Market Maker agents who compete with users on the stage.
Pro's & Con's Of Trading With Bithumb
Every online trading platform will have some pros and cons Bithumb review would be complete without having a balanced approach. 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||Interactive Brokers||Trade Zero||Personal Capital|
|Headquarters||Hong Kong||United States||Bahamas||USA|
|Regulated By||Unregulated||Financial Conduct Authority (FCA)||Securities Commission of the Bahamas (SCB)||Unregulated|
|Find Out More|
|Risk Warning||Your capital is at risk||Losses can exceed deposits||Your capital is at risk||Your capital is at risk|
Bithumb Review - Regulation And Licencing In More Detail
Bithumb is regulated by Unregulated.
Bithumb, as a company, has a powerful set of rules for ensuring fair trading onto its own platform. For information encryption purposes, it supplies an industry-standard secure socket layer (SSL).
In accordance with the company's privacy regulations, client information is to not be shared with some other institutions or individuals. Including credit history and other financial details.
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 need to begin on Bithumb is $500. This is a decent amount for people just beginning. It's possible to make more complex deposits as you go along. But, ensure that you know how to make the most of your money before investing larger sums.
Bithumb Review - Commission And Fees Explained
Bithumb is an online brokerage platform, and most online brokerages charge lower prices than traditional brokerages tend to charge. The reason for 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 mean that online brokers don't charge any fees. They charge fees of varying rates for a variety of services to make money. There are mainly three different types of fees for this objective.
The first sort of fees to keep an eye out for are trading charges. When you make an actual trade, like purchasing a stock or an ETF, you're billed trading charges. In such cases, you are paying a spread, funding rate, or even a commission. The kinds of trading fees and the rates vary from broker to broker.
Commissions could be fixed or dependent on the traded quantity. On the flip side, a spread refers to the gap between the buying and selling cost. Financing or overnight rates are those that are billed when you hold 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 are charged for surgeries like depositing cash, not investing for lengthy periods, or withdrawals.
Generally, Bithumb doesn't charge high fees compared to other online agents. For operations other brokers fee for, they do not charge a brokerage fee, or they charge a smaller sum. This is beneficial for those who regularly trade, such as daily or weekly trading.
However, non-trading fees billed by Bithumb are relatively higher. As a result, you're charged more for non-trading actions on your trading accounts, like withdrawal and deposits. These aren't related to the purchase and sale of resources.
This Bithumb review breaks down each of the applicable non-trading fees for you in detail.
Compare broker fees against Bithumb
|Bithumb||Interactive Brokers||Trade Zero||Personal Capital|
|Withdrawal Fees||$5||10 USD||variable||variable|
Bithumb Review - Withdrawal Fees ExplainedBithumb doesn't charge withdrawal fees
Withdrawal of cash is possible at any moment from the Bithumb account. It's possible to withdraw up sums to the sum of your account balance, keeping aside the perimeter utilized. 1 thing to keep in mind is that you don't always have to have any money in your account.
In addition, 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 money will be sent into the card. Bithumb will ask you to offer other withdrawal methods in case 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 applicable. The conversion fee will depend on the currency you're opting to withdraw 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 dealers that have not participated in purchasing or selling for some time. The period considered inactive is decided by the broker.
The inactivity fee also differs from 1 broker to another and is not standardized. If a traders account doesn't have a purchasing or selling transaction, it is maintained by the broker as an inactivity charge. The traders need to pay this commission under terms and conditions that they had consented while enrolling.
Bithumb doesn't charge inactivity fees so you are free to use your account as needed
Even if no charges are implied by Bithumb, it's best for you to close the account if you're inactive. Inactivity fees are not just charged by broker firms but also many financial services.
For other trading platforms, the inactivity fee depends on the sort of account you have selected. The inactivity fee is subjected to many conditions and should be disclosed clearly by the broker beforehand.
Bithumb Review - Deposit Fees Explained
When you move money in your trading account from the bank account, a deposit fee can be billed by the broker. Most brokers don't charge too much money for this 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 easy. You just need to finish a single-user profile questionnaire to begin depositing money into your trading account. You'll need to provide an identity evidence and proof of residency to deposit substantial sums.
Bithumb Review - Compare Broker Deposit Methods
|Bithumb||Interactive Brokers||Trade Zero||Personal Capital|
What Can You trade With Bithumb?
Note: Bithumb provides many different trading instruments due to regulatory restrictions in a few countries. Trading instruments offered may 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 currency pairs is of interest to you then Bithumb offer over forex pairs.
Compare Bithumb, Interactive Brokers, Trade Zero & Personal Capital below.
Alternatives To Bithumb
If, after studying this Bithumb review, Bithumb doesn't fulfill your needs check out these Bithumb alternatives.
We've scoured the internet to find the best alternatives to Bithumb. Click on the hyperlinks below to find out more.
Frequently Asked Questions about Bithumb
Can I try Bithumb before I buy?
Yes, you can most certainly try Bithumb before you buy. Bithumb offers demo accounts for the convenience of new traders. You may use this feature to build your faith in the machine as well as yourself and your trading strategies.
If you register for a demonstration account on Bithumb, you will set out using a decent amount of virtual money. It is to establish a feeling of security and confidence in you until you choose to spend your own money.
With this virtual Bithumbdemo account, you are able to experiment in any way, to whatever period you desire. You can also open positions, test different trading strategies, and more.
Bithumb specifies on its official website that 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 all the rules 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 multiple methods to fund your accounts with Bithumb. The process is effortless and quick, with different 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 is also at your disposal for depositing money. You have to keep in mind that PayPal is not available in all country. The currencies Bithumb
Is my money safe with Bithumb?
Yes, your cash is safe and protected with Bithumb. As you know, Bithumb operates with proper conformation to. It's established plenty of measures to guard all of its investors.
Bithumb safeguards its clients' private and sensitive information under SSL encryption. Your capital will be retained highly secure in top-tier banks.
If you want to further protect your account, you can empower Two-Step Verification also. It requires an SMS confirmation that you get your accounts.
Is Bithumb trading good?
Yes, trading through Bithumb is a pleasant and decent experience indeed. It's a great and intuitive platform with helpful features for your ease. In addition, you can also gain access to a huge collection of educational tools and assistive substance to kickstart your trading expertise.
If you are still skeptical, you can start a eToro demo account and assess the credibility of the platform for yourself.
Which Countries does Bithumb support?
Bithumb operates across the world. However, due to regulations there are some countries that Bithumb can't 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 a great agent, and its users may vouch for this. The highlight of the platform is its quick order execution on transactions.
You'll find the clean design of the platform along with the admirable features that 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 indisputably one of the business leaders. It has over 10,000+ registered customers and over 12 years of experience on its record. They're one of the world's leading trading platforms and also a prominent figure in the Fintech revolution.
It simplifies this status to its incredible platform and broad range of tools plus resources so you can put money into 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, many traders earn a great deal of money. But typically, through consistent trading, you can create 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. Even though Bithumb supply you all the tools to earn money, they can't guarantee you will gain.
Does Bithumb have fees?
Yes. To start trading using Bithumb, you have to deposit $500. Certain commissions while trading additionally apply. Any processing fees from your bank might need 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 worldwide recognised agent 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 provide negative balance protection. If your balance is negative, Bithumb suggests you contact customer services. With this, you are able to correct any imbalances within your account.
Does Bithumb offer guaranteed stop loss?Bithumb regrettably, does not offer guaranteed stop loss. Bithumb provides a chance to its traders to close their trade at their specified price. Aside from this, Bithumb does not provide guaranteed stop loss.
Does Bithumb allow scalping?Yes, Bithumb do allow scalping. Several traders throughout the world choose Bithumb due to their services that are trading. 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.