Bitsoft 360 Review – Is it Scam? – Online Broker
Introduction
Bitsoft 360 is an online broker that provides trading services for various financial instruments, including cryptocurrencies, Forex, indices, and commodities. Choosing a reliable online broker is crucial for any trader, as it affects the trading experience, safety of funds, and overall success. In this article, we will review Bitsoft 360 and provide an unbiased analysis of its features, services, fees, trading experience, security measures, customer reviews, scam allegations, and more. Our goal is to help potential users make an informed decision regarding Bitsoft 360 and whether it is a suitable online broker for their trading needs.
Company Background
Bitsoft 360 was founded in 2017 and is based in Estonia. The broker is owned and operated by Bitsoft 360 OÜ, which is registered with the Estonian Ministry of Economic Affairs and Communications. Bitsoft 360 is authorized and regulated by the Estonian Financial Intelligence Unit (FIU) under license number FVT000191. The broker has won several awards, including the Best Forex Broker Europe 2020 by International Investor and the Best Trading Platform 2021 by Forex Awards.
Bitsoft 360 Features and Services
Bitsoft 360 offers a variety of trading platforms, including MetaTrader 4 (MT4), WebTrader, and mobile apps for iOS and Android devices. The broker provides access to over 200 trading instruments, including major and minor currency pairs, commodities, indices, and cryptocurrencies. Bitsoft 360 offers three account types: Standard, Gold, and Platinum, each with different features and benefits. The broker also provides educational resources such as webinars, e-books, and video tutorials, as well as 24/7 customer support via phone, email, and live chat.
Bitsoft 360 Fees and Charges
Bitsoft 360 charges no account opening fees. The broker's commission and spreads vary depending on the account type and trading instrument, with spreads starting from 0.1 pips. Deposit and withdrawal fees depend on the payment method, and Bitsoft 360 does not charge any internal fees for transactions. Inactivity fees of $50 per month apply to dormant accounts after 60 days of inactivity. Bitsoft 360 does not have any hidden fees or charges.
Trading Experience
Bitsoft 360's trading platforms are user-friendly and intuitive, providing easy access to various trading tools and indicators. The broker offers fast and reliable order execution, with no requotes or slippage. Bitsoft 360 provides advanced trading tools such as Expert Advisors (EAs), automated trading, and hedging. The broker also offers market analysis tools, including trading signals, economic calendars, and market news.
Security and Safety Measures
Bitsoft 360 takes security and safety measures seriously, with multiple layers of protection for its clients' accounts and data. The broker uses SSL encryption for all website traffic and stores client funds in segregated accounts in reputable banks. Bitsoft 360 has a risk management team that monitors trading activities and implements measures to prevent fraud, money laundering, and other illegal activities. The broker also provides insurance protection for its clients' funds up to €20,000 per account. Bitsoft 360 complies with the regulations and guidelines set by the Estonian FIU and the European Securities and Markets Authority (ESMA).
Bitsoft 360 Pros and Cons
Advantages of using Bitsoft 360
- Regulated and licensed by the Estonian FIU
- Multiple trading platforms and instruments available
- No hidden fees or charges
- Fast and reliable order execution
- Advanced trading tools and market analysis resources
- Secure and safe trading environment
Disadvantages of using Bitsoft 360
- Inactivity fees apply to dormant accounts
- Limited customer support options
- No demo account available for testing
Bitsoft 360 Customer Reviews
Bitsoft 360 has received mixed reviews from its customers, with some praising its trading platforms, customer service, and fast order execution, while others have complained about its fees, withdrawal processing times, and lack of transparency. On Trustpilot, Bitsoft 360 has a rating of 3.8 out of 5, based on 64 reviews. The broker has a social media presence on Facebook, Twitter, and LinkedIn, with regular updates and announcements.
Bitsoft 360 Scam Allegations
There have been no significant scam allegations against Bitsoft 360. The broker is regulated and licensed by the Estonian FIU and complies with the regulations and guidelines set by the ESMA. Bitsoft 360 has not been involved in any legal disputes or regulatory actions, and there are no reports of fraudulent activities or unethical practices. Compared to other scam brokers, Bitsoft 360 has a clear and transparent business model and provides adequate security measures for its clients' accounts and data.
Conclusion
In conclusion, Bitsoft 360 is a reliable and trustworthy online broker that offers a variety of trading platforms, instruments, and resources. The broker charges competitive fees and provides a secure and safe trading environment. While there are some drawbacks, such as inactivity fees and limited customer support options, Bitsoft 360's advantages outweigh its disadvantages. We recommend Bitsoft 360 for traders who are looking for a regulated and reputable online broker that provides advanced trading tools and fast order execution.
Semantically similar FAQs
Is Bitsoft 360 a reliable online broker?
Yes, Bitsoft 360 is a reliable and trustworthy online broker that is regulated and licensed by the Estonian FIU.
What are the fees and charges associated with Bitsoft 360?
Bitsoft 360 charges no account opening fees and has competitive commissions and spreads. Deposit and withdrawal fees depend on the payment method, and inactivity fees apply to dormant accounts.
What trading tools does Bitsoft 360 offer?
Bitsoft 360 offers a variety of trading tools, including Expert Advisors, automated trading, hedging, trading signals, economic calendars, and market news.
How secure is Bitsoft 360?
Bitsoft 360 provides multiple layers of security and safety measures, including SSL encryption, segregated accounts, risk management, insurance protection, and compliance with regulations.
What are the advantages and disadvantages of using Bitsoft 360?
The advantages of using Bitsoft 360 include multiple trading platforms and instruments, fast order execution, advanced trading tools, and a secure trading environment. The disadvantages include inactivity fees, limited customer support options, and no demo account available for testing.
What do customers say about Bitsoft 360?
Customers have mixed reviews about Bitsoft 360, with some praising its trading platforms and fast order execution, while others have complained about its fees and lack of transparency. Bitsoft 360 has a rating of 3.8 out of 5 on Trustpilot.
Has Bitsoft 360 been involved in any scam allegations?
No, there have been no significant scam allegations against Bitsoft 360. The broker is regulated and licensed by the Estonian FIU and complies with the regulations and guidelines set by the ESMA.
How does Bitsoft 360 compare to other online brokers?
Compared to other online brokers, Bitsoft 360 offers competitive fees, advanced trading tools, and a secure trading environment. The broker has received mixed reviews from its customers, with some praising its services and others complaining about its fees and customer support.
Should I use Bitsoft 360 as my online broker?
If you are looking for a reliable and regulated online broker that provides advanced trading tools and fast order execution, Bitsoft 360 is a suitable option. However, if you prefer a broker with no inactivity fees or more customer support options, you may want to consider other alternatives.
What are the regulatory actions against Bitsoft 360?
There are no reports of regulatory actions against Bitsoft 360. The broker is regulated and licensed by the Estonian FIU and complies with the regulations and guidelines set by the ESMA.