TradeTheBit Reviews 2021 – Scam or not?

TradeTheBit Reviews 2021: Trading is no child’s play and particularly in today’s world. This is mainly because of the way it has evolved to suit the varying and ever-advancing needs of the traders. I have seen the time when traders used to plan proper trips to the stock exchange and that used to be the highlight of the week for them. Now that we have Forex firms, the need to go all the way to stick exchange has been eliminated. I must say this elimination wasn’t as good as it sounds. No one can deny how it has made our lives as traders so much easier. You need not slip out of your bed to make huge deals. Everything is on your phone’s screen and this used to be beyond imagination for someone who has been making trips to the stock exchange all their life. 

Well, like I was talking above, the introduction of these firms did not only bring good, their luggage had some messy stuff which continues bothering traders to date. Yes, I am referring to the fake forex firms which are more prevalent in the market than the reliable ones, successfully making the choice even harder. Fake forex firms are actively working in the market and keep coming up with innovative methods to hoax traders. The young ones particularly are a target because of their naive nature and inability to spot an imposter. 

I am a trader who has struggled and finally established myself as a trader in a period of around 9 years. These 9 years were hard, I must say, but if you ask me I’d say these were the years I learned the most in my life. I had always been a good student while at university and college but these 9 years have given me something that no professor all around the globe does. I will also acknowledge that these years had been the most disappointing time for me but with difficulty comes great ease. 

I remember when I was new, in fact, when I was turning old even then many Forex firms tried hard to rob me, some of them succeeded also. You might be thinking if an established trade theirs for their traps, well yes we do because they put it out so skillfully that no one can avoid them unless you are an avid researcher and very cautious. These two qualities can take you to unprecedented heights if you adopt and make use of them the right way. I realized this too late and by then I had been exploited by 3 fake brokers. I don’t want to get into the details of the heartbreaking tale, just that on the first one a security breach at their party’s side took away my money. As for the second one, I realized after a long time that the indicators and tools had been fooling me with wrong values, and the third one I left because the servers and systems were very poor at order execution and this made me suffer from a loss of tons of hard-earned money. 

I got to know about TradeTheBit from a fellow trader who was one day boasting about his forum being very efficient. I had not heard someone so confident about a broker before so I told myself the very next moment that I need to look into it. I did, and after a good month of research, I was ready to trust the broker with my not-so-bright future. I must say whatever he said has been true but I discovered some flaws too. In the review below, let’s have a look at these positives and negatives so that you can decide if you want to pick it or not. 

Positives

I have to start this category with security. The security scenario at TradeTheBit has been highly satisfactory. I had been scammed by a firm because of poor safety so I was particularly keen regarding knowing more about how the firm ensures the security of assets of the customers. I was glad to see how they put in all they have to ensure that security is not compromised at any point. I have gone through the website’s documents that include Risk Disclosure Statement, Anti Money Laundering Policy, Bonus Policy, Terms and Conditions, Withdrawal, Refund, and Cancellation Policy, Privacy Policy, etc. All you need to do is go through these and you will realize how much the firm believes in transparency and such a degree of honesty is a clear indicator that the firm is concerned with you. I have also been through the disclaimer which clearly states its unavailability in some countries. On inquiring I was told that operations in these areas come with a lot of threats to other users so the company has decided to keep services unavailable there. 

Next, I want to talk about the ease of access. Now that the world is moving so fast and we are always on the go, we need something to help us keep up without any added burden. For example, with all the liquidity and volatility in the market, would you like to wait for an hour to reach home and make the deal? Will you think that the situation will remain equally profitable for you in an hour? No, you need to get the deal done there and then. To make sure you never miss any right chances, the firm has made the website available on both phones and laptops. In fact, they can be used on tablets also. Also, there is no need to install any extra software which is an added threat to your laptop. I like how the firm has always kept in mind the convenience of traders and keeps introducing new stuff for all of us. All you need to do is, slip out your phone or laptop, open the browser, open the website, and there you go. 

Education is something that I firmly believe a trader needs to grow and survive. I have always said that a trader who is not into knowing more about the new trends and developments, is highly likely to be lost one day. You need to stay updated to survive the turmoil. This is one of the reasons why the broker has put out such a comprehensive education segment on the website which is free and easily accessible for all. You can read books, go through some frequently asked questions, have a look at the asset index, and search through the glossary. All of the above are good in terms of content but I don’t know why they aren’t updated as often. All of them need to be updated more because we see trading is all about changing trends and concepts so the broker should always keep adding to the existing ones. 

Out of all, I love the books section. The uploaded books talk about important matters and new topics that we want to read more about. Also, a small descriptive paragraph at the bottom of the title is a great help for the ones who want to know what the book is all about quickly. 

Negatives

Like us humans, these firms aren’t free of flaws no matter how long they have been into the business or how established they are. I met many flaws at TradeTheBit but these have never annoyed me because I feel like such small issues are a part of the journey. If they get sorted it makes the ride smoother but if they don’t it’s sort of okay. So let’s see what negatives my broker has been housing. 

I don’t know why so many traders out there find a dark backdrop very captivating and classic. I have never been a fan of so much dark so the background has always been a no to me. I wish the company considers making it lighter or adding a light/dark theme option so that no one feels distributed by the background. I am old now and my eyes don’t help me out a lot when it comes to carrying out complex trading operations with a dark backdrop. I have to see all the values and trends very keenly before making any decisions and this sort of bothers me.

PayPal is absent.TradeTheBit has always been caring about its users irrespective of their country of residence. Millions of clients all around the globe are equally important. This shows from the fact that they have introduced a total of 3 methods for payments. Although I am comfortable with Bankwire, I know so many people who like PayPal more. Since it is more common all around the globe, it should be added to the list. 

Conclusion

TradeTheBit was the only broker which made me feel safe and secure. This is not only because of the security but also because the administration is very professional and always looking forward to solving your issues. I feel like it’s just this concern which a trader wants from the broker. 

Disclaimer

This review is written from my own experience and my self-knowledge only and this is not a recommendation.