Bitteks has been an important part of the online trading industry for years now. While not having as strong of a pedigree as some of the industry veterans, this brokerage has managed to quickly gain a huge following. However, this industry does not forgive resting on your loreals for a long time, so it’s time to re-examine how Bitteks stacks against the steep competition in 2021 and beyond. In our review, we will highlight all the highs and the lows of this brokerage so that you can determine whether they are worthy of your time and money.
Not all of us get into the online trading game with the same motives. With so many traders with different budgets and ambitions, it stands to reason why so many brokerages are deciding to offer different types of accounts, each with a distinct set of features. Bitteks has fully adopted this philosophy and has created four tiers that aim to attract traders of all levels. The only downside to this is that there is no demo account. However, we cannot see it as a bad thing, given how this feature is slowly becoming extinct in this industry. And besides, the starting tier requires such a small fee, that we feel it will not present a barrier to anyone who is serious about trading. Below you can find a detailed breakdown of each account type. Do note that these have a somewhat unorthodox naming, but it doesn’t detract from their individual value.
Like we mentioned, the barrier of entry is set at just $250, so that pretty much anyone can open an account at Bitteks and start trading immediately. Despite being just a starter pack, this tier packs a punch, with access to over 200 tradable assets, regular market reviews, flexible leverage going as high as 1:100 and competitive spreads. If you want to test the trading platform, or simply get a good feeling of what you are getting, the Silver account is the way to go.
If you feel slightly more ambitious or are simply ready to upgrade, the Gold tier is next in line. It requires a $10,000 Minimum Balance and includes features such as a dedicated senior account manager, flexible leverage of up to 1:200, tier-3 trade room analysis, risk management and financial planning and several monthly webinars. All these perks are designed to give you more freedom in your decision making and give you more room to be creative when creating a perfect portfolio.
If you wish to take your trading to an ever higher level, then the Platinum tier could be even better for you. Although, you need to be a high-volume trader to even consider it, given that it starts with a $50,000 minimum balance. It includes everything mentioned so far plus flexible leverage of up to 1:300, even tighter spreads, tier-2 trade room analysis, weekly webinars and a level-2 prioritized withdrawal process. If your ambitions are high enough, then this account type gives you plenty of flexibility to trade exactly as you wish with little to no restrictions.
This is top of the range of Bitteks offerings. Basically, you get a better, upgraded version of everything previously mentioned with a few unique perks. These include access to VIP events, a special bonus funds, and much more. The only downside is you can even call it that is “invitation only” nature of this account. This will be obtainable only by the most ambitious traders out there. However, given everything it offers in return, it might be a good deal after all.
One of the most sought after features of any respectable brokerage is its education resources offering. Bitteks delivers big on this end by providing both its registered and non-registered users with something to improve their trading skills. In the previous section, you could hear more about the perks you receive based on your chosen account type. These include daily market reviews, webinars, risk management and financial planning workshops and access to analysts.
If you are still unsure of whether you want to start depositing money right away, there is an Education Centre on the homepage that is designed to help beginners start their journey with a solid foundation. Asset Index and the Glossary serve as an introduction to the trading world with a detailed explanation of all terminology you’ll be using on a daily level. eBooks section holds a vast library that covers a wide range of beginner-friendly to intermediate topics, including basic technical analysis to advanced strategies. All of them are illustrated and do a great job breaking down some of the key concepts to a level that anyone can understand it, regardless of their prior experience.
Bitteks is offering the latest technology in a neat little package. They managed to build their own, custom-made platform that is tailored to fit both the newcomers and the industry veterans alike. This is achieved with a very user-friendly design that is very intuitive and can get you anywhere you want in just a single click. Browsing the available assets and interacting with them is a breeze thanks to a very responsive platform that allows you to make minute changes in a blink of an eye. Bitteks sacrifices some of the complexity some industry-standard solutions might offer, but given how everything run so smoothly, we feel this sacrifice was well justified.
You can reach out to Bitteks in several different ways. Primarily there is the F.A.Q. page that is surprisingly elaborate and offers more than you would expect. If you are still unsure or simply need detailed assistance, you could write an email, call one of two available call centres in Australia and the United Kingdom. The only thing to keep in mind is the operating hours, and these can easily be found within the “Contact us” page. Whichever option you choose will get the proper support you need.
Depositing and withdrawing funds works pretty much as you would expect it. There are several ways to fund your account, and these are all bank-related methods. Some might miss the crypto payment alternatives, but what is on offer works really speedy and efficient especially given how secure the entire process is. Deposits are registered and processed pretty much instantly, while withdrawal times vary depending on your bank provider. This is why we advise contacting your bank representative first to find exactly what waiting times will you be facing.
In the end, we are left with a lot of words of praise, and very little concern regarding Bitteks and its ability to create a good trading environment. The only thing that slightly bothered us was the lack of language diversity, so if English is not your mother tongue, you might be facing an uphill battle, which is a shame given how smoothly everything runs. Given the speed and potency of the platform, the flexibility of its support system and the vast libraries of educational content, it is no wonder that Bitteks has built up a reputation as one of the most reliable brokers in the market. Due to everything listed so far, we can give out our full-hearted recommendations.