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 10 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
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Bithumb General Fees
- Bithumb withdrawal fees varies on payment method
- Bithumb does charge inactivity fees
Bithumb Commissions
- Bithumb does charge commission on CFD shares
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 Interactive Brokers and XTB below.
| FX / Currencies | bithumb | IB | XTB |
|---|---|---|---|
| # of forex pairs offered | 10 | 50 | |
| Major forex pairs | Yes | Yes | Yes |
| Minor forex pairs | No | Yes | |
| Exotic forex pairs | No | Yes | |
| Cryptocurrencies | Yes | No | Yes |
| Commodity CFDs | Bithumb | Interactive Brokers | XTB |
|---|---|---|---|
| # of commodities offered | 0 | ||
| Metals | No | Yes | Yes |
| Energies | No | Yes | Yes |
| Agricultural | No | Yes | Yes |
| Indiced & Stock CFDs | Bithumb | Interactive Brokers | XTB |
|---|---|---|---|
| # of Stocks offered | 1500 | ||
| UK Shares | No | Yes | Yes |
| US Shares | Yes | Yes | Yes |
| German Shares | No | Yes | Yes |
| Japanese Shares | No | Yes | Yes |
|
bithumb's
Instruments |
IB's
Instruments |
XTB's
Instruments |
Trading on Bithumb web platforms and other applications
Bithumb offer a user-friendly custom trading platform, available as both a downloadable program or as a browser based WebTrader. If you are looking for a MetaTrader broker, see our comparison of MT4 brokers 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 platformsBithumb Trading benefits :
- Low min deposit
Bithumb Trading Accounts offered:
- 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
What funding methods do Bithumb accept?
Bithumb offer the below funding payment methods. learn more about Bithumb
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 trader, accounts and instruments, but as a guide, Bithumb offer margin up to % on currencies.
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
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 10 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.
Bithumb not quite right?
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BITHUMB Frequently Asked Questions
Can I try Bithumb before I buy?
Bithumb 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 Bithumb accept?
Bithumb offer the below funding payment methods among other payment methods. Learn more here
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.