Bithumb Review 2020

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

Bithumb Guide

Bithumb are an online broker founded in 2009 offering Forex trading trading, CFD trading trading, Spread Betting trading, Social trading trading, and Share Dealing trading.

Bithumb are a global broker and have a head office in Hong Kong.

Bithumb have a listed stock symbol. This means that Bithumb have publically listed and you can officially buy shares in Bithumb 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 Bithumb we break down the pros and cons. What Bithumb are able to offer, what countries Bithumb are available in. Who Bithumb 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 Bithumb

Open Bithumb's Website

Your capital is at risk

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

With this review we hope to help you see if Bithumb 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 Bithumb that will help you get off to a good start in the world of online trading.

Bithumb Review Table of Contents

Bithumb what you should know

Bithumb offer five ways to trade: Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing.

With Bithumb you will need a minimum deposit of $500. You can sign up for a demo account to acquaint yourself with Bithumb platform.

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


Are Bithumb safe?

When choosing a broker like Bithumb 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 2009, and in operation for 11 years Bithumb have a head office in Hong Kong.

Bithumb is regulated. This means Bithumb are supervised by and is checked for conduct by the Unregulated regulatory bodies.

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

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

For added security Bithumb 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 Bithumb. 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 Bithumb

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 bithumb eToro XTB Trading212
Year Established 2009 2006 2002 2006
Head Office Hong Kong Cyprus, UK Poland UK
Regulation Unregulated 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 Bithumb 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.

Bithumb Pros and Cons

What we like about Bithumb

  • Used by over 10,000 traders
  • Established in 2009
  • Regulated by Unregulated
  • Min. deposit from $500

What we don't like about Bithumb

Bithumb Financial Regulation and Supervision in more detail

Bithumb are not supervised or regulated by any well known regulatory bodies. Its normal to find online brokers like Bithumb that are not regulated yet appear to be legitimate.

Bithumb maybe relatively new. Some brokers provide their service under offshore licenses to save operational costs. Regulatory licensing can be very costly. We recommend only trading with regulated brokers. Should anything go wrong with Bithumb you are not guarenteed help in a difficult situation.

  • Unregulated

Bithumb General Fees

  • Bithumb withdrawal fees varies on payment method
  • Bithumb does charge inactivity fees
  • Bithumb does charge deposit fees
Broker bithumb eToro XTB Trading212
Min Deposit 500 200 0 1
Withdrawl Fees $5 Yes varies No
Inactivity Fees Yes No No
Deposit Fees No No No
CFD Commission Fees No Yes No

Bithumb Commissions

  • Bithumb does charge commission on CFD instruments.

What can you trade with Bithumb?

You can trade a wide variety of instruments with Bithumb over 56 instruments infact.

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

Compare Bithumb with eToro and XTB below.

Your capital is at risk

Broker bithumb eToro XTB Trading212
Instruments Available 56 100 1,500 3000
Platforms iPhone/iPad,iOS,Mac Web Trader, Tablet & Mobile apps MT4, Mirror Trader, Web Trader, Tablet & Mobile apps Web Trader, Tablet & Mobile apps
FX / Currencies Visit Bithumb 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 Bithumb Visit eToro Visit XTB Visit Trading 212
Commodities Offered 0 0 21 14
Metals No Yes Yes Yes
Energies No Yes Yes Yes
Agricultural No Yes Yes Yes
Indiced & Stock CFDs Visit Bithumb 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 Bithumb web platforms and other applications

Bithumb 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.

An Bithumb IOS or Android native App on your phone or tablet will Work quicker Than the Avatrade Website on the same device

Bithumb 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 bithumb's platforms

Bithumb Trading benefits :

Bithumb Trading Accounts Offered :

  • Demo account
  • Mini account
  • Standard account
  • Islamic account

Can I try Bithumb before I buy?

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

Bithumb withdrawl and funding methods.

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

Broker bithumb 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 Bithumb?

When opening a trading account with Bithumb, 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 Bithumb trading platforms here.

Performing trades with Bithumb

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

As a market maker, Bithumb 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.

Bithumb Leverage and Bithumb CFDs Explained

let's take a look at some of the basics of using Bithumb leverage.

Bithumb offer CFD are a leveraged product for this example we describe ten times leverage.

So you have a ten thousand dollar position but you only tie up a thousand dollars a tenth of the value on your account. You have a situation where a small sum of money is controlling a much bigger financial position. This is your leverage.

So what effect does leverage have on your profits and losses well put simply it magnifies them in both directions.

Bithumb leverage magnifies both profits and losses when trading.

Let's say for example you buy ten thousand dollars worth of General Electric (GE) using contracts for difference ( CFDs ) using the Bithumb trading platform.

let's say General Electric (GE) rises 10% because its results are positive your position which was worth ten thousand dollars is now worth $11,000.

It's grown by $1000 10% in value this represents a hundred percent increase on the funds initially committed on your leverage CFD trade.

Our initital investment of ten thousand dollars for the trade and has made a thousand dollars in profit because the price is up ten percent.

The Bithumb leverage goes both ways. If General Electric (GE) Falls 10% on week results your position which was worth ten thousand dollars is now worth only nine thousand dollars. It has fallen by a thousand dollars.

Bithumb CFDs are typically used for short to medium term trades. For example Bithumb intraday trading.

Education resources at Bithumb

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

Bithumb 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 Bithumb.

Take time to look around the Bithumb 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 Bithumb

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

Bithumb have a D grade support rating because because sometimes the response was slow or our query wasnt answered. Bithumb 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. Phone support supports a limited amount of Languages.

Livechat Support at Bithumb

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

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

Email Support at Bithumb

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

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

Phone Support at Bithumb

We called Bithumb and the call was answered very quickly. The call was answered in less than 5-10 minutes.

The Bithumb phone support team were able to successfuly answer our questions and issues over the phone. We tested the multilingual Bithumb team by calling in varying languages. Bithumb made an effort to make sure our queries were answered.

Overall the phone support from Bithumb was okay.

See how Bithumb Support Compares Against Other Brokers

Broker bithumb 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 Bithumb 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 Bithumb

As Bithumb is regulated by Unregulated, 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 Bithumb'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 Bithumb 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.bithumb.com/ on 12th August 2018.

Is Bithumb A Good Broker?

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

  • Bithumb have a good track record of offering Forex trading, CFD trading, Spread Betting, Social trading, Share Dealing.
  • Bithumb has a history of over 11 years.
  • Bithumb has a reasonable sized customer support of at least 10.
  • Bithumb are regulated by Unregulated. This means Bithumb 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.
  • Bithumb have regulation from a Tier 1 reputable country.
  • Bithumb has the ability to get deposits and withdrawals processed within 2 to 3 days. This is important when withdrawing funds.
  • Bithumb have an international presence in multiple countries. This includes local Bithumb seminars and training.
  • Bithumb are able to hire people from various locations in the world who can better communicate in your local language.

Bithumb Risk Disclaimer

Your capital is at risk

Bithumb not quite right?

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

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

Related Bithumb Comparisons

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

BITHUMB Frequently Asked Questions

Can I try Bithumb before I buy?

Bithumb offer a demo account so you can try before you put down and payment. Learn more here

What funding methods do Bithumb accept?

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

Your capital is at risk

Is Bithumb safe?

While Bithumb may not be considered unsafe, they are not regulated or supervised by any major regulatory body. Depending on your trading style this may be okay. We recommend you trade with a regulated broker.Any payments funded to Bithumb accounts by traders are held in a segregated bank account. For added security Bithumb use tier-1 banks for this. Tier 1 is the official measure of a banks financial health and strength.

Is Bithumb trading good?

While Bithumb may not necessarily be considered bad, they are not regulated. We would recommend trading with only regulated brokers.Bithumb is used by over Bithumb active traders. Bithumb offers Forex trading trading, CFD trading trading, Spread Betting trading, Social trading trading, and Share Dealing trading. Minimum deposit with Bithumb is mindeposit.

Is Bithumb trading Legit?

Bithumb was founded in Hong Kong in 2009. Bithumb has been facilitating trade on the financial markets for over 11 years. Bithumb offers clients Forex trading trading, CFD trading trading, Spread Betting trading, Social trading trading, and Share Dealing trading. All funds deposited to Bithumb are held in segregated tier 1 bank accounts for security. Bithumb is not regulated. Although this doesnt mean Bithumb are awful, we recommend trading with regulated brokers.

Is Bithumb a good broker?

Bithumb is not regulated by a top tier financial regulator. While many traders may still find trading with Bithumb useful, we recommend only trading with a broker that has regulation.Bithumb allows Forex trading trading, CFD trading trading, Spread Betting trading, Social trading trading, and Share Dealing trading.

Is Bithumb trustworthy broker?

While having many plus points because Bithumb is not regulated we personally would not trade with them. Make any broker you trade with is regulated and places any funded money into segregated tier 1 bank accounts. If your money is in a segregated bank account the broker has no direct access to your funds so cannot misappropriate your money.

What is the minimum deposit for Bithumb?

The minimum deposit to trade with Bithumb is 500.

How long do Bithumb withdrawals take?

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

Is Bithumb regulated?

Bithumb is not regulated by a top tier financial regulator.

Is Bithumb a market maker?

Bithumb 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 Bithumb?

When opening a trading account with Bithumb, 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 Bithumb trading platforms here.

Is my money safe with Bithumb?

Bithumb is regulated by Unregulated. One of the most important criteria for traders when choosing a broker like Bithumb 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 Bithumb, this will be honored. If they violate any regulatory rules their regulated status can be stripped.

Is Bithumb a con?

While we would noy say that Bithumb is a con. Because they are not regulated by a top tier financial regulator we would not trade with them.

Can you make money with Bithumb?

Although traders have had great success with Bithumb. Trading on the financial markets with Bithumb 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 Bithumb have fees?

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

When was Bithumb founded?

Bithumb was founded in 2009.

How many people use Bithumb?

Bithumb is used by over 10000 registered traders.

What is Bithumb Headquarters country?

Bithumb has its head quarters office in Hong Kong.

Does Bithumb offer negative balance protection?

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

Does Bithumb offer guaranteed stop loss?

Bithumb 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 Bithumb allow scalping?

Bithumb does not offer scalping.

Does Bithumb allow hedging?

Bithumb does not offer hedging.

Does Bithumb offer CFD trading?

Bithumb offers CFD trading.

Does Bithumb offer STP?

Bithumb does not offer STP trading.

How many people use Bithumb?

Bithumb is used by over 10000 traders.

Is Bithumb an ECN broker?

Bithumb does not offer ECN trading.

Does Bithumb offer a demo account?

Bithumb offers a demo account.

Does Bithumb offer an Islamic account?

Bithumb offers a Islamic accounts.

What are the funding methods for Bithumb?

Bithumb accept the following funding methods :

Bithumb review written by Andrew Blumer and Mark Hansen

We hope you found our review of the Bithumb 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.

Bithumb review written by Mark Hansen of Comparebrokers.co