Overview
International BTC Trade, an unregulated brokerage based in the United Kingdom, presents a range of concerning limitations. With an absence of regulatory oversight, investor protection and transparency are compromised. The substantial minimum deposit requirements for the Platinum account at $10,000 may deter traders with smaller capital. While the platform offers competitive leverage, the lack of specified trading commission details and the notably wide spreads on the Mini account, starting from 2.2 pips, raise questions about cost-effectiveness. Additionally, the absence of educational tools and the limited customer support channels, comprising only a phone number and email, hinder trader development and access to timely assistance. Furthermore, the current unavailability of the company's website adds to the uncertainties surrounding International BTC Trade.
Regulation
Caution: Absence of Regulation!! An unregulated broker operates independently without any oversight or supervision from regulatory bodies. This absence of regulation gives rise to apprehensions regarding investor safety, transparency, accountability, fund security, and conflict resolution. Investors are strongly advised to exercise prudence when engaging with unregulated brokers and instead choose licensed and regulated brokers to benefit from enhanced protections and oversight.
Pros and Cons:
International BTC Trade offers a range of advantages, including a diverse array of trading instruments, competitive leverage options, and multiple account types to cater to different traders. It also provides accessible deposit and withdrawal options and offers tight spreads on specific account types. However, there are notable drawbacks, such as the absence of regulatory oversight, limited customer support channels, and a lack of educational resources. Additionally, the operating hours for customer support are unclear, and detailed commission information is not readily available. Traders should weigh these pros and cons carefully when considering International BTC Trade as their trading platform.
Market Instruments
International BTC Trade offers a diverse array of trading instruments, granting clients access to a wide spectrum of financial markets and the opportunity to trade various asset classes. These instruments encompass:
Forex Trading:
International BTC Trade places a strong emphasis on forex trading, allowing clients to engage in speculation on the relative values of different currencies. With the forex market boasting the highest daily turnover in the financial world, traders can explore major currency pairs, cross-currency pairs, and exotic currency pairs. This market offers flexibility, transparency, cost-effectiveness, leveraged trading options, and the ability to take both long and short positions. International BTC Trade provides competitive spreads, leverages up to 500:1, and delivers institutional-quality trade execution for forex enthusiasts.
Bullion Trading:
Bullion trading revolves around the buying and selling of precious metals, with a particular focus on gold and silver. Gold, an esteemed and historically significant metal, along with silver, another precious commodity, are attractive options for short-term and long-term speculative investment due to their tangible worth. International BTC Trade facilitates trading in gold and silver, offering tight spreads, leverages of up to 200:1, and delivering institutional-grade trade execution.
CFDs (Contracts for Difference):
International BTC Trade introduces CFDs, which are derivative trading instruments that enable clients to speculate on the price fluctuations of diverse financial markets without the need to possess the underlying assets. CFDs are available for a broad spectrum of markets, including stock indices, energy products, and commodities. This allows clients to tap into global markets, trade multiple stock indices and energy products, take advantage of favorable margin requirements, and benefit from 100% DMA (Direct Market Access) execution. CFDs offer diversification opportunities and permit traders to capitalize on both rising and falling market trends.
Account Types
International BTC Trade offers a selection of account types to cater to the diverse needs of traders. Each account type comes with its own set of features and benefits to accommodate various trading preferences.
Platinum Account:
The Platinum Account is designed for experienced traders seeking the utmost flexibility and leverage in their trading activities. With a maximum leverage of 1:500, this account allows traders to control larger positions with a relatively lower capital investment. The minimum deposit requirement for the Platinum Account is $10,000, making it suitable for those who are well-capitalized. It offers competitive spreads starting at 0.5 pips, making it an attractive choice for currency trading and other available instruments. Traders can take positions as small as 1 lot, and the account supports Expert Advisors (EAs) for automated trading. While depositing and withdrawal methods, as well as commission details, are not provided in this overview, traders are encouraged to contact International BTC Trade for further information.
Standard Account:
The Standard Account strikes a balance between leverage and accessibility. With a maximum leverage of 1:500, traders can still amplify their positions significantly, but the minimum deposit requirement is set at a more accessible $1,000. This account type offers competitive spreads starting at 1.6 pips, making it suitable for currency trading and other available instruments. Traders can initiate positions as small as 0.1 lots and benefit from the support of Expert Advisors (EAs) for automated trading. Notably, the Standard Account comes with zero commission charges. As with other account types, specific details regarding depositing and withdrawal methods can be obtained directly from International BTC Trade.
Mini Account:
The Mini Account is tailored for traders who prefer to start with a smaller capital base. With a minimum deposit requirement of $100, it provides an accessible entry point into trading. The maximum leverage is 1:500, offering traders the ability to magnify their positions. While the spreads start at 2.2 pips, this account type is still suitable for currency trading and other available instruments. Traders can initiate positions as small as 0.01 lots and utilize Expert Advisors (EAs) for automated trading. Similar to the Standard Account, the Mini Account also features zero commission charges. Details regarding depositing and withdrawal methods can be obtained directly from International BTC Trade for a comprehensive understanding of the account.
Leverage
At International BTC Trade, clients have access to a substantial maximum trading leverage of up to 1:500. Leverage is a tool that empowers traders to increase the size of their positions by utilizing borrowed capital from the broker. With a leverage ratio of 1:500, traders can potentially control positions that are 500 times larger than their initial investment. This generous leverage ratio presents an opportunity for traders to enhance potential profits. However, it's essential to recognize that higher leverage also heightens the level of risk associated with trading.
While increased leverage can amplify gains, it equally magnifies potential losses. Therefore, it's crucial for traders to approach high leverage ratios with caution and possess a comprehensive understanding of leverage dynamics and risk management strategies. Engaging in responsible and informed trading practices is vital to harness the advantages of leverage while minimizing its inherent risks.
Spreads & Commissions
Spreads:
Platinum Account: This account offers the tightest spreads with a minimum spread of 0.5 pips. Traders who prioritize low spreads may find this account appealing.
Standard Account: The Standard Account provides spreads starting at 1.6 pips. While wider than the Platinum Account, it does not have any specified commission fees, making it suitable for traders who prefer to avoid commission charges.
Mini Account: With a minimum spread of 2.2 pips, the Mini Account offers wider spreads compared to the other two account types. Traders with a smaller capital base may choose this account for its lower minimum deposit requirement, although the spreads may impact trading costs.
Commissions:
Platinum Account: While the Platinum Account does not specify commission charges, it offers tight spreads. Traders should inquire with the platform to understand the commission structure.
Standard Account: The Standard Account does not have any commission fees, making it a cost-effective option for traders who wish to avoid additional charges beyond the spreads.
Mini Account: Similar to the Standard Account, the Mini Account also does not specify any commission fees. Traders looking for a lower-cost option with wider spreads may opt for this account.
In conclusion, the spread and commission structures vary across these trading accounts. Traders should carefully evaluate their trading strategies, capital, and preferences to select the most suitable account type based on these spread and commission considerations.
Deposits and Withdrawals
International BTC Trade offers a range of convenient and efficient options for depositing and withdrawing funds to cater to the diverse needs of their clients. Here's a breakdown of their deposit and withdrawal methods:
Deposits:
Wire Transfer: Clients can deposit funds using wire transfers in 10 different base currencies. Typically, wire transfers take 1-2 working days to process, and there may be associated bank fees.
China Union Pay (CUP): CUP allows clients to deposit funds in Chinese Renminbi (RMB). CUP deposits are processed swiftly, usually within 0.5-1 hour, without any extra fees.
Visa/Mastercard: International BTC Trade accepts deposits in 10 different base currencies through Visa and Mastercard. Deposits via credit or debit cards are processed instantly, enabling clients to begin trading immediately, and no additional fees are charged.
AsiaPay: Clients can deposit funds in 10 different base currencies using AsiaPay. This payment method offers instant processing, ensuring that funds are available for trading without delay, and incurs no extra fees.
Withdrawals:
International BTC Trade strives to process all withdrawal requests on the same day they are received, ensuring swift access to funds. The time it takes to receive withdrawals depends on the chosen withdrawal method:
Wire Transfer: Withdrawals via wire transfer may be subject to an approximate fee of USD 30, which is deducted from the withdrawal amount. Clients can expect to receive their funds within 2-3 working days.
China Union Pay (CUP): Withdrawals made through CUP do not incur any fees, and the withdrawn amount is settled in Chinese Renminbi (RMB) based on the current onshore pricing of commercial banks in China.
Credit Cards: If the initial deposit was made using a credit card, funds will be returned to the same card within 60 days, following the same processing time as the initial deposit.
These deposit and withdrawal options are designed to provide flexibility and convenience for clients while ensuring timely access to their funds.
Trading Platform
International BTC Trade's trading platform is powered by MetaTrader 4 (MT4), a renowned trading terminal. MT4 offers comprehensive features, including advanced price analysis tools, seamless trade execution, and support for automated trading through Expert Advisors.
MT4 Mobile Trading: The mobile app version of MT4 allows traders to manage their accounts on the go using smartphones and tablets. It offers analytical tools, real-time quote visualization, and complete account management functionality.
MT4 MultiTerminal: Ideal for money managers and those handling multiple accounts, MT4 MultiTerminal streamlines simultaneous account management. It provides comprehensive account control, supports various order types, offers detailed reporting, and keeps traders updated with real-time news.
MT4 MAM/PAMM: This integrated tool is perfect for money managers executing block orders across multiple client accounts. It enables efficient account management with Expert Advisors, flexible allocation methods, and a range of order types to optimize trading strategies.
Customer Support
International BTC Trade's customer support falls short in several key areas:
Limited Accessibility: Support is restricted to a phone number and email ( +44 7451281950, support@internationalbtctrade.com), making it challenging to access assistance promptly, especially during urgent situations.
Communication Delays: Relying primarily on email can result in slow response times, causing delays in issue resolution.
Inadequate Channels: The absence of live chat or self-help resources limits users' options for immediate assistance or independent problem-solving.
Language Barriers: Language support is unspecified, potentially leading to communication difficulties.
Unclear Operating Hours: Operating hours for support are undisclosed, leaving users uncertain about when they can seek help.
These limitations may cause frustration and inconvenience for users seeking timely and comprehensive assistance.
Educational Resources
International BTC Trade appears to lack educational resources for its users. This absence of educational materials or resources could hinder traders who seek guidance, tutorials, or information to improve their understanding of financial markets and trading strategies. Educational resources are typically valuable tools for traders to enhance their knowledge and skills, and their absence in this case may leave users with limited opportunities for learning and self-improvement within the platform.
Summary
International BTC Trade raises several concerns across different aspects of its offering. It operates without regulatory oversight, which can be worrisome for investors concerned about safety, transparency, accountability, and fund security. The platform's customer support is notably limited, with restricted accessibility, potential communication delays, and a lack of diverse support channels, including live chat or self-help resources. Additionally, the absence of educational resources deprives traders of valuable learning materials. While it offers a range of trading instruments and account types, the absence of detailed commission information and limited transparency in various aspects of its services may leave users questioning the platform's overall reliability and suitability for their trading needs.
FAQs
Q1: Is International BTC Trade a regulated broker？
A1: No, International BTC Trade is an unregulated broker. It operates independently without oversight from regulatory bodies, raising concerns about investor safety and transparency.
Q2: What is the maximum leverage offered by International BTC Trade？
A2: International BTC Trade provides a substantial maximum trading leverage of up to 1:500, allowing traders to amplify their positions significantly.
Q3: What are the account types available on International BTC Trade？
A3: International BTC Trade offers three account types: Platinum, Standard, and Mini, each with its own features, minimum deposit requirements, and trading conditions.
Q4: What are the deposit and withdrawal options on International BTC Trade？
A4: The platform offers deposit options including wire transfer, China Union Pay (CUP), Visa/Mastercard, and AsiaPay. Withdrawals are typically processed through wire transfer, CUP, or credit cards.
Q5: Does International BTC Trade provide educational resources for traders？
A5: No, International BTC Trade does not offer educational resources or materials to assist traders in improving their knowledge and skills in financial markets, potentially limiting learning opportunities for its users.
