General information and regulations of SenBtc
SenBtc is an online futures and forex broker established in United States without any effective regulation for now.
In the following article, we will analyze the characteristics of this broker from various aspects, providing you with simple and organized information. If you are interested, please read on.
At the end of the article, we will also briefly summarize the main advantages and disadvantages so that you can understand the broker's characteristics at a glance.
Market instruments
It seems that SenBtc only offers trading of futures and currency pairs, which is a quite limited market.
Spreads and commissions for trading with SenBtc
SenBtc does not detail on its website additional trading costs such as spreads, commissions, SWAPs, etc. These costs are very important when calculating profits and losses, and should be considered in aggregate and not chosen in isolation. If you want to trade with SenBtc, we recommend that you take the time to calculate these transaction costs.
Account Types for SenBtc
Demo Account: SenBtc provides a demo account with a balance of 10,000 virtual money that allows you to try out the financial markets without the risk of losing money.
Live Account: SenBtc offers a total of 4 account types: ordinary, elementary, intermediate and senior. the minimum deposit to open an account is 100 USDT, 3,000 USDT, 10,000 USDT and 50,000 USDT respectively. If you are still a beginner and don't want to invest too much money in Forex trading, a ordinary account will be the most suitable option for you. However, we should also realize that too little capital not only reduces losses, but also reduces profitability. Therefore, you may find it “”unexciting“” or unprofitable. In addition, accounts with smaller initial deposits tend to have poorer trading conditions.
Trading platforms offered by SenBtc
SenBtc provides its own platform instead of common MT4 or MT5. This platform is applicable to all devices according to the company.
Leverage offered by SenBtc
You can't find information about trading leverage on SenBtc's website. Some forex brokers offer leverage of up to 1:500, but newbies are advised to be cautious about such high leverage.
Deposit and withdrawal methods and fees
All account withdrawal requirements are subject to the minimum recharge/withdrawal amount. The minimum top-up amount is 100 [USDT]. At least 100 USDT in cash withdrawal (the withdrawal funds are paid by the acceptor to the withdrawal bank card). A certain processing fee will be charged for withdrawal.
Educational resources
There is no education section on the SenBtc website. Many brokers are able to provide a variety of educational resources such as video courses, seminars, e-books, related articles, glossaries that provide some basic knowledge about trading. This is not the case with SenBtc.
Customer support of SenBtc
Below are the details about the customer service.
Language(s): English,
Email: info@senbtc.com
Social media: Facebook, Instagram, YouTube, twitter
Users exposures on WikiFX
We have not received any reports of fraudulent activity at this time.
Advantages and disadvantages of SenBtc
Advantages:
Demo account
Social trading
Disadvantages:
No effective regulation
Few information available
No MT4/MT5
Withdrawal fee
Frequent asked questions about SenBtc
Is this broker well regulated？
No, it is currently not effectively regulated and you are advised to be aware of its potential risks.
What types of trading accounts does this broker offer？
SenBtc offers these types of accounts: ordinary, elementary, intermediate and senior. You can find specific information in our articles or on the broker's website.
