Bitfinex Review 2020

Bitfinex Rated 3/5
learn more Learn more about eToro. 75% of retail investor accounts lose money when trading CFDs with this provider.

Bitfinex Guide

Bitfinex are an online broker founded in 2015 offering Forex trading trading, Spread Betting trading, Social trading trading, and trading.

Bitfinex are a global broker and have a head office in New Zealand .

Bitfinex have a listed stock symbol. This means that Bitfinex have publically listed and you can officially buy shares in Bitfinex on one of the worlds global market exchanges.

When trading in the financial markets it can be very time consuming to find a broker that meets your needs.

Often you have to visit and read many broker websites all of which have different uses of language. The wording can be very confusing. In our review of Bitfinex we break down the pros and cons. What Bitfinex are able to offer, what countries Bitfinex are available in. Who Bitfinex are regulated by and more.

Having a reliable and capable broker is crucial to your success in online trading. Make sure that your broker is not fake or unreliable to avoid losing your investment. Ensure that your needs fit the profile of your broker as well, in order for you to have a good working profitable relationship.

Benefits of trading with Bitfinex

Open Bitfinex's Website

Your capital is at risk

At the bottom of this review you can also learn about some pretty good alternatives to Bitfinex

With this review we hope to help you see if Bitfinex is a good fit for you.

It is a common myth that online trading is confusing. It is only difficult for people who have not done the research. In this article, you will learn important information regarding Bitfinex that will help you get off to a good start in the world of online trading.

Bitfinex Review Table of Contents

Bitfinex what you should know

Bitfinex offer four ways to trade: Forex trading, Spread Betting, Social trading, .

With Bitfinex you will need a minimum deposit of $100. You can sign up for a demo account to acquaint yourself with Bitfinex platform.

Bitfinex are able to accommodate various levels of traders whether you are experienced or a beginner.


Are Bitfinex safe?

When choosing a broker like Bitfinex the administrative body and regulatory status of the broker is very important. Brokers who conduct trades without supervision of a regulatory body do so at their own discretion. Any capital you invest is at risk.

Established in 2015, and in operation for 5 years Bitfinex have a head office in New Zealand .

Bitfinex is regulated. This means Bitfinex are supervised by and is checked for conduct by the Financial Services Provider (FSP) regulatory bodies.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to Bitfinex, this will be honored. If Bitfinex violate any regulatory rules their regulated status could be stripped.

Any payments funded to Bitfinex accounts by traders are held in a segregated bank account.

For added security Bitfinex use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Try creating two accounts when you are working with Bitfinex. One is the real account, with your real money and the other is your demo account. The demo account is your experimental account.

Open a demo account Visit Bitfinex

Your capital is at risk

Full disclosure: We may receive a commission if you sign up with a broker using one of our links.

Broker bitfinex eToro XTB Trading212
Year Established 2015 2006 2002 2006
Head Office New Zealand  Cyprus, UK Poland UK
Regulation Financial Services Provider (FSP) Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) Financial Conduct Authority (FCA), FCA number FRN 522157, Cyprus Securities and Exchange Commission (CySEC), CySEC Licence Number: 169/12, Comisión Nacional del Mercado de Valores, Komisja Nadzoru Finansowego Financial Conduct Authority (FCA), Financial Supervision Commission (FSC)
Used By 10,000+ 12,000,000+ 250,000+ 14,000,000+
Negative balance protection No Yes Yes
Guaranteed Stop Loss No No Yes
Learn More Visit Bitfinex Visit eToro Visit XTB Visit Trading 212
Risk Warning Your capital is at risk 75% of retail investor accounts lose money when trading CFDs with this provider. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Bitfinex Pros and Cons

What we like about Bitfinex

  • Used by over 10,000 traders
  • Established in 2015
  • Regulated by Financial Services Provider (FSP)
  • Min. deposit from $100

What we don't like about Bitfinex

Bitfinex Financial Regulation and Supervision in more detail

We have checked and Bitfinex is regulated and supervised by reputable organisations. You are able to check every Bitfinex supervisory and regulatory body given below. Regulation gives you some recourse for those who have issues with Bitfinex. Regulatory authorities protect the traders with things like reimbursement schemes that regain the client's investment in the event the broker becomes insolvent.

The brokerage firms have to comply with a variety of rules and criteria determined by the recognized international authority with the intention to provide secure trading and stay licensed. The whole notion of regulation is to protect Bitfinex traders and provide a safe trading environment.

Bitfinex is governed and supervised by reputable financial regulatory bodies. Regulatory bodies monitor the behavior of the brokers and if things go wrong they will take necessary action. Before trading online with a broker such as Bitfinex you should be sure they're legitimate online agent.

Bitfinex General Fees

  • Bitfinex withdrawal fees varies on payment method
  • Bitfinex does charge inactivity fees
  • Bitfinex does charge deposit fees
Broker bitfinex eToro XTB Trading212
Min Deposit 100 200 0 1
Withdrawl Fees $10 Yes varies No
Inactivity Fees Yes No No
Deposit Fees No No No
CFD Commission Fees No Yes No

Bitfinex Commissions

  • Bitfinex does charge commission on CFD instruments.

What can you trade with Bitfinex?

You can trade a wide variety of instruments with Bitfinex over 55 instruments infact.

If you are looking at trading currency pairs Bitfinex offer over currency pairs.

Compare Bitfinex with eToro and XTB below.

Your capital is at risk

Broker bitfinex eToro XTB Trading212
Instruments Available 55 100 1,500 3000
Platforms Android Apps,iPhone/iPad,Desktop Web Trader, Tablet & Mobile apps MT4, Mirror Trader, Web Trader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps
FX / Currencies Visit Bitfinex Visit eToro Visit XTB Visit Trading 212
Forex pairs offered 50 50 177
Major forex pairs Yes Yes Yes Yes
Minor forex pairs No Yes Yes Yes
Exotic forex pairs No Yes Yes Yes
Cryptocurrencies Yes Yes Yes Yes
Commodity CFDs Visit Bitfinex Visit eToro Visit XTB Visit Trading 212
Commodities Offered 0 0 21 14
Metals Yes Yes Yes Yes
Energies Yes Yes Yes Yes
Agricultural Yes Yes Yes Yes
Indiced & Stock CFDs Visit Bitfinex Visit eToro Visit XTB Visit Trading 212
Stocks Offered 957 1696 1731
UK Shares No Yes Yes Yes
US Shares Yes Yes Yes Yes
German Shares No Yes Yes Yes
Japanese Shares No Yes Yes Yes

Trading on Bitfinex web platforms and other applications

Bitfinex offer a user-friendly custom trading platform, available as a browser based web application. If you would rather see a comparison of MT4 brokers, you can so here.

Bitfinex also offer mobile apps for Android and iOS, making it easier to keep an eye on and execute your trades while you’re on the move.

See bitfinex's platforms

Bitfinex Trading benefits :

  • Low min deposit

Bitfinex Trading Accounts Offered :

  • Islamic account

Can I try Bitfinex before I buy?

Bitfinex offer a demo account so you can try before putting down funding payments. Open a practice account & learn to trade

Bitfinex withdrawl and funding methods.

Bitfinex offer the below funding payment methods. learn more about Bitfinex

Broker bitfinex eToro XTB Trading212
Bank transfer No Yes Yes Yes
Credit Cards No Yes Yes Yes
Paypal No Yes Yes Yes
Skrill No Yes Yes Yes
Payoneer No Yes Yes No
Neteller No Yes Yes No

How can I start trading with Bitfinex?

When opening a trading account with Bitfinex, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Bitfinex trading platforms here.

Performing trades with Bitfinex

Bitfinex allow you to execute a minimum of trade of varies. This may vary depending on the account you open. Bitfinex allow you to execute a maxium trade of varies.

As a market maker, Bitfinex may have lower entry requirements compared to an ECN broker who benefits from a higher volume of trades and typically have larger capital and minimum trade requirements. Market makers typically have lower minimum deposit, smaller minimum trades requirements and no commission on trades.

As with most brokers, margin requirements do vary depending on the instruments.

Education resources at Bitfinex

To trade effectively with Bitfinex, it's important to get a have a good understanding of the Bitfinex trading tools and the markets.

Bitfinex offer a good selection of educational resources. Spend some time reading up on how the markets and trading works, making active trades, active trading times, and managing risk.

Having an analytical approach may be a good way to approach trading with Bitfinex.

Take time to look around the Bitfinex platforms and train yourself to think more systematically and logically about the markets. It's a new skill-set for many, but it is what the market requires of you.

Customer Support at Bitfinex

Bitfinex support a wide range of languages including English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian

Bitfinex have a D grade support rating because because sometimes the response was slow or our query wasnt answered. Bitfinex less customer support features compared to other brokers like live chat, phone and email support. email support and supports a limited amount of Languages. Live chat support supports a limited amount of Languages.

Livechat Support at Bitfinex

We tested the Bitfinex live chat and it works well. We sent messages to Bitfinex livechat through their app and website and recieved a response within 20 minutes. Sometimes there was no response.

We tested communicating with Bitfinex support in multiple languages in multiple countries. Bitfinex where able to resolve our customer issues.

Email Support at Bitfinex

We sent several emails to Bitfinex and answer times overall were excellent. The fastest response from Bitfinex was 4 hours and the slowest response was 5 days. Sometimes there was no response. Support response times may vary for you with Bitfinex, but this was our experience sending 10 emails at varying times.

The team resolved and answered our queries. Overall average email support from Bitfinex.

Phone Support at Bitfinex

Bitfinex does not offer Phone Support.

See how Bitfinex Support Compares Against Other Brokers

Broker bitfinex eToro XTB Trading212
Support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
  • Live chat
  • Phone support
  • Email support
Languages English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian,Hindi, Hebrew, Arabic, Russian English, German, Spanish, French, and Italian English, Spanish, Czech, Chinese, German, French, Italian, Polish, Portuguese, Romanian, Slovenian, and Turkish English, Deutsch, Nederlands, Espanol, Francais, Italiano, Polski, Srpski, Norsk, Svenska, Cesky, РУССКИЙ, Romana, Turkce, العربية, 中文
Learn More Visit Bitfinex Visit eToro Visit XTB Visit Trading 212
Risk Warning Your capital is at risk 75% of retail investor accounts lose money when trading CFDs with this provider. 80% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 76% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

What you will need to open an account with Bitfinex

As Bitfinex is regulated by Financial Services Provider (FSP), every new client must pass a few basic compliance checks to ensure that you understand the risks of trading and are allowed to trade. When you open an account, you'll likely be asked for the following, so it's good to have these handy:

  • A scanned colour copy of your passport, driving license or national ID
  • A utility bill or bank statement from the past three months showing your address

You'll also need to answer a few basic compliance questions to confirm how much trading experience you have, so it's best to put aside at least 3 minutes or so to complete the account opening process.

While you might be able to explore Bitfinex's platform straight away, it's important to note that you won't be able to make any trades until you pass compliance, which can take up to several days, depending on your situation.

To start the process of opening an account with Bitfinex you can visit their website here.

CFDs are leveraged products and can result in the loss of your capital. All trading involves risk. Only risk capital you're prepared to lose. Past performance does not guarantee future results.
This post is for educational purposes and should not be considered as investment advice. All information collected from https://www.bitfinex.com/ on 12th August 2018.

Is Bitfinex A Good Broker?

We spent over 3 months examining Bitfinex in depth. Although we found some very useful aspects of the Bitfinex platform that would be useful to some traders. Overall our feeling is that you would be better served with an alternative Bitfinex broker.

  • Bitfinex have a good track record of offering Forex trading, Spread Betting, Social trading, .
  • Bitfinex has a history of over 5 years.
  • Bitfinex has a reasonable sized customer support of at least 10.
  • Bitfinex are regulated by Financial Services Provider (FSP). This means Bitfinex fall under regulation from a jurisdiction that can hold a broker responsible for its misgivings; or at best play an arbitration role in case of bigger disputes.
  • Bitfinex have regulation from a Tier 1 reputable country.
  • Bitfinex has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
  • Bitfinex have an international presence in multiple countries. This includes local Bitfinex seminars and training.
  • Bitfinex are able to hire people from various locations in the world who can better communicate in your local language.

Bitfinex Risk Disclaimer

Your capital is at risk

Bitfinex not quite right?

Check out these Bitfinex Alternatives

We have spent years researching the best alternatives to Bitfinex. Click the links below to learn more.

If you feel some of the above Bitfinex are not quiet what you are looking for or perhaps you would just like to see some alternatives. See our highly rated list of Bitfinex alternatives below.

Related Bitfinex Comparisons

If you would like to see how Bitfinex stands up against other brokers you can read some of our Bitfinex comparisons below. We compare side by side some of our top rated Bitfinex versus comparisons. Read some indepth Bitfinex VS pages below.

BITFINEX Frequently Asked Questions

Can I try Bitfinex before I buy?

Bitfinex do not offer a demo account so it looks like you will have to sign up for at least a trial period. Learn more here

What funding methods do Bitfinex accept?

Bitfinex offer the following funding payment methods among other payment methods.
Learn more here

Your capital is at risk

Is Bitfinex safe?

Bitfinex are considered safe as they are regulated by and checked for conduct by the Financial Services Provider (FSP). Any payments funded to Bitfinex accounts by traders are held in a segregated bank account. For added security Bitfinex use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Is Bitfinex trading good?

Bitfinex is considered good and reputable to trade with. BitfinexBitfinex is used by over Bitfinex active traders. Bitfinex offers Forex trading trading, Spread Betting trading, Social trading trading, and trading. Minimum deposit with Bitfinex is mindeposit.

Is Bitfinex trading Legit?

Bitfinex was founded in New Zealand  in 2015. Bitfinex has been facilitating trade on the financial markets for over 5 years. Bitfinex offers clients Forex trading trading, Spread Betting trading, Social trading trading, and trading. All funds deposited to Bitfinex are held in segregated tier 1 bank accounts for security. Bitfinex is regulated by Financial Services Provider (FSP) so can be considered legit.

Is Bitfinex a good broker?

Bitfinex is overseen by the top tier financial regulators Financial Services Provider (FSP) so can be considered a good broker.Bitfinex allows Forex trading trading, Spread Betting trading, Social trading trading, and trading.

Is Bitfinex trustworthy broker?

Bitfinex can be considered trustworthy. All money funded to Bitfinex is placed into a segregated tier 1 bank account. this means your money in not held by Bitfinex directly but a tier 1 bank. The broker has no direct access to your funds so cannot misappropriate your money. Also Bitfinex is regulated by Financial Services Provider (FSP).

What is the minimum deposit for Bitfinex?

The minimum deposit to trade with Bitfinex is 100.

How long do Bitfinex withdrawals take?

Withdrawing money from Bitfinex processing time varies but averages 2-5 days.

Is Bitfinex regulated?

Bitfinex is regulated by Financial Services Provider (FSP).

Is Bitfinex a market maker?

Bitfinex is a not a market maker. A market maker speeds up trading as a market maker will purchase your stocks and commodities even is a buyer is not lined up.

How can I start trading with Bitfinex?

When opening a trading account with Bitfinex, you will need to sign up here. Once you have received your login details by email, submitted your identification documents for account validation, and made a deposit; the next step is to download the trading platform of your choice. You can find detailed guidance on Bitfinex trading platforms here.

Is my money safe with Bitfinex?

Bitfinex is regulated by Financial Services Provider (FSP). One of the most important criteria for traders when choosing a broker like Bitfinex is the regulatory body and regulatory status of the broker. Brokers who conduct business without regulation do so at their own discretion and pose a direct risk to the security of their clients money.

Regulated brokers will not manipulate market prices. When you send in a withdrawal request to Bitfinex, this will be honored. If they violate any regulatory rules their regulated status can be stripped.

Is Bitfinex a con?

Bitfinex is regulated and well established having been in business for over 5 years. Bitfinex is definitely not a con.

Can you make money with Bitfinex?

Although traders have had great success with Bitfinex. Trading on the financial markets with Bitfinex is not a get rich scheme. If you educate yourself, practise with a demo account and carefully plan your trading your chance of success will greatly increase. Never trade with money you cannot afford to lose. Your capital is at risk.

Does Bitfinex have fees?

Bitfinex withdrawal fees varies on payment method. Bitfinex does charge inactivity fees. Bitfinex does charge deposit fees.

When was Bitfinex founded?

Bitfinex was founded in 2015.

How many people use Bitfinex?

Bitfinex is used by over 10000 registered traders.

What is Bitfinex Headquarters country?

Bitfinex has its head quarters office in New Zealand .

Does Bitfinex offer negative balance protection?

Bitfinex does not offer negative balance protection. With Negative balance protection means traders cannot lose more money than they have deposited.

Does Bitfinex offer guaranteed stop loss?

Bitfinex does not offer guaranteed stop loss. With guaranteed stop loss protection risk is managed. Traders are guarenteed to close your trade at your specified price. Stop Loss orders are guaranteed only during market hours and under normal trading conditions.

Does Bitfinex allow scalping?

Bitfinex does not offer scalping.

Does Bitfinex allow hedging?

Bitfinex does not offer hedging.

Does Bitfinex offer CFD trading?

Bitfinex does not offer CFD trading.

Does Bitfinex offer STP?

Bitfinex does not offer STP trading.

How many people use Bitfinex?

Bitfinex is used by over 10000 traders.

Is Bitfinex an ECN broker?

Bitfinex does not offer ECN trading.

Does Bitfinex offer a demo account?

Bitfinex does not offer demo account.

Does Bitfinex offer an Islamic account?

Bitfinex offers a Islamic accounts.

What are the funding methods for Bitfinex?

Bitfinex accept the following funding methods :

Bitfinex review written by Andrew Blumer and Mark Hansen

We hope you found our review of the Bitfinex brokerage firm useful.

This article was written by our financial editor Mark Hansen and Andrew Blumer.

Mark was previously of the Kiel Insitute and has worked with financial organisations across Europe, Australia, South East Asia, South Africa and the Middle East. Mark has over 15 years experience in financial analysis, forecasting, financial modeling idenifying new market opportunities in Stocks, CFD's, Forex and Commodities.

Andrew has a well-established career in fintech and came up with comparebrokers.co to make trading on financial markets more transparent and accessible.

Whether you want to trade Forex, Stocks, Commodities or Indices we will help you find the best online broker for you from 400+ brokers for clients based in the UK, Europe, Asia, South Africa and Australia.

Bitfinex review written by Mark Hansen of Comparebrokers.co