Bithoven is a multi-award-winning cryptocurrency exchange platform that allows users to trade on margin in a variety of cryptocurrencies, including Bitcoin, Ethereum, and Ripple. From leverage to payment options, everything is covered in this study. Check to see if Bithoven is a trustworthy and regulated broker.
Bithoven, which has been managed by Fortis Ltd since 2019, has over 60,000 clients and has transacted over $300 million in cryptocurrencies. The Financial Services Authority (FSA) of Saint Vincent and the Grenadines has approved the firm.
Users can switch between Exchange and Margin on the Bithoven platform. You may manage your BTC orders and examine moving averages on the Exchange page’s web trading interface. Users may access MetaTrader 5 via the Margin page.
The upgraded MetaTrader 5 (MT5) platform is meant to give quick and easy access to worldwide exchange markets via a user-friendly interface.
MetaTrader 5 is also available as a web browser version that includes all of the same features as the desktop version but without the need to download any software. Simply enter into your Bithoven account, navigate to the margin trading tab, and choose the web terminal.
The MetaTrader 5 platform is available as a mobile application for iOS and Android smartphones from Bithoven. Traders may access the same services, such as live quotations, push alerts, financial news, and extensive historical data, 24 hours a day, 7 days a week, from wherever they are using the app.
Bithoven charges a fixed fee of 0.2 percent for all cryptocurrencies for both exchange and margin trading. When you first enter the market, you will be charged a commission (both for opening and closing a position). Floating spreads for margin trading start at zero with a minimum order volume of 0.01. The stop-out threshold is set at 20%, while the margin requirement is set at 40%.
Position rollover fees for overnight positions, as well as triple swaps on Friday and Saturday, are further expenditures to be aware of. There is no charge for inactivity.
Bithoven only accepts cryptocurrency for deposits and withdrawals, so if you don’t have any, you’ll have to buy some on the exchange first.
Bitcoin, Ethereum, Ripple, Bitcoin CASH, Tether, Litecoin, EOS, TRON, Stellar, and Cardano are all available for exchange, deposit, and withdrawal. Only bitcoins are used for margin trading.
There are no deposit or withdrawal limits, although withdrawal minimums differ based on the coin. These may be found in the website’s list of product fees. There is no maximum amount that can be withdrawn.
All coins will take eight hours to process. Making a deposit is free, however, there is a withdrawal cost (which varies according to the coin) in addition to the 0.2 percent trading fee.
Bithoven only offers one genuine account due to the site’s structure; however, users can move between the margin trading and exchange pages inside the platform. Please keep in mind that margin trading is only available in Bitcoin. When it comes to trading cryptocurrencies, there are a variety of currencies to select from.
Bithoven provides a sample account so users may try out the platform with no risk. On the MT5 platform, Demo Margin simulates trading with a variety of cryptocurrencies. With a virtual balance of 1 to 10 BTC, leverage may be set to 1:20. A demo account may be established on your margin account page after registering for as long as you need it.
Under the name Fortis Ltd, Bithoven is registered with the Financial Services Authority of Saint Vincent and the Grenadines. Because it is a lesser-known regulating body, consumers may only have limited legal recourse if the broker goes bankrupt or refuses to pay returns. Having said that, Bithoven has recently acquired multiple industry honors, indicating that it has a positive reputation among traders and specialists.
Bithoven provides newcomers with several useful tools and materials, including video lectures on trading signals and trading robots. A list of the major cryptocurrencies is also accessible, along with accompanying white papers and other material to offer market and product context.
The disadvantages of using Bithoven include: