In the past decade or so, I have been associated with many online brokerage firms. Ever since this year started, the online trading business is thriving and there are a number of new platforms that are launching. It is easy to get confused once you are provided with these numerous online platform selections.
My experience with these platforms will help you. As a trader, I am here to evaluate all the appropriate conditions of these platforms. I will be unbiased in my review. After going through the review, you can use these facts and make a decision based on the information provided to you. I have to mention that I had a first-hand experience with the platform but only my demands as a trader have resulted in all this critical assessment.
The business plan of every trader is different, so you must be confused as to how I will make it work. In this regard, the fact is that the market of trading is being standardized by these online brokerage firms. You cannot compare it to be a sort of convenience where you will buy or sell while enjoying the comforts of your home. This is taking trading in a totally different direction.
Today, rookie traders are subject to a lot of trickery in the trading world. The global market is filled with novice traders. The market is not a fun place that some may perceive it to be. If you do not follow or keep track of risk factors, you are liable to certain implications. To avoid any such thing, there are brokerage firms. They mediate everything from buying or selling for your business. Their sole objective is to regulate your trading sessions.
How to find a platform that will be reliable is why I am doing this review. So, I will come to this important point. Before you opt for a platform, it is always recommended to run a survey so you can better initiate your business plan. I have been a part of Bitteks for over four years now. With this platform and CFD broker, I have come a long way definitely.
Quality of Administration
The one essential parameter that trading platforms should live up to is dependability. In my belief, it has a direct link with the administration. You can tell a lot about the infrastructure of a brokerage firm by seeing how it operates. This includes the financial instruments and the legal framework. Bitteks provides a thorough network of brokers to manage its services. It is a web-based platform. It is very easy for clients to find their way due to the highlighted effects of all options related to services. If you want to seek support, you can go for the Contact Us option where it is mandatory to fill in a form in order to get a direct line with the service representatives.
They don’t have a quick access to the live chat option. So, that is why you can’t connect from just about anywhere and personally, I would have preferred it, too. The response is not that immediate with these options that they but they are still very equally effective. However, there is an option of live chat in the Support session. From there, you can access it.
Customer Care Response
The success of all brokers is dependent on client care that is efficient in all respects in catering to their customers. On your platform, it does not matter if you have the best quality tools or advanced services lined up for the trading sessions. None of this is important as long as there are flaws or gaps in the communication of a platform with its clients. This is why Bitteks offers client support through three different means that includes a phone line option, the option of using email to leave a message or the live chat option. It is totally up to you which means you want to adapt to convey your message.
The live chat option is what I have always preferred. I can get a quick response to my confusion or query. If you are more comfortable going for the email route, know that is just as effective as the live chat option but it can take some time for the process. The live chat option is not active throughout the week. The active hours are from 04:00 to 13:00 GMT from Monday to Friday. Sometimes you might see some delays in the responses of the operator but that is mostly due to the immense traffic that occurs during the peak hours of the market. The phone call option is not available in my region and due to this reason, I am unable to make use of this service. People living in Australia or the United Kingdom can avail the option of phone support.
The correspondence channels are constantly monitored by Bitteks for all its clients and after each session, they require feedback, too. Due to this, they can correct their flaws that occur in the system in time. I am very satisfied in terms of my experience. The platform is very efficient in providing its services to its clients and I have seen it happen many times as part of this platform.
Trading Platform Execution
If I go through the main part of the platform, there is a section that can be used to map out the trading ventures. Within the layout of Bitteks lies all of its tools. Traders find it so much easier to navigate through the platform to find their way. The platform execution is directly affected by the design of the server. The execution order of Bitteks is rapid and you are provided with an additional advantage in the form of ultra-tight spreads.
Your trading vocation will improve if you are a novice and have started using all the resources and services the platform provides. To cater to the needs of the traders, the tools are equipped as such and make it easier to choose from the options range provided. You will be able to assess the stocks that you favour. This easy assessment will make it easy for you in decision-making.
The colour scheme was not mesmerizing, so my first impression was not good. The backdrop is dark and the interface is covered with graphical designs. Customers can get a glimpse of all the premium stocks that are associated with the platform such as Facebook, Tesla, and Amazon by scrolling through the stock report bar that they have on the main page. Traders can access more than 200 tradable assets with alternating options such as Stocks, Forex, Crypto, Commodities, and Indices.
For trading analysis, the dark backdrop is also positioned for the chart. This monochrome theme is stuck throughout Bitteks. Some people may be a fan of it but since I wasn’t, I can only hope that some sort of option is introduced in the future to change this colour scheme.
From the intervals to the type, you can choose anything from the custom features that are offered by the chart. The range varies from 9 chart intervals and you can keep track of current and upcoming market patterns. When you make trade reports, these are essential factors. Trade reports help to align the movements of prices of assets that are underlying in CFDs. There are accessible tools to engage the customers and make their experience more efficient. Veteran traders like me will value these tools more because they are very instrumental in stepping up the game in this ever-growing competitive world of trading.
The strong legal framework of a highly regulated platform such as Bitteks safeguards the interests of brokers and clients alike. I have attained a certain comfort level with them as I have been trading with them for quite a while now. I am at ease using this platform and one of the major reasons is the presence of legal documentation on the platform.
You can find the Disclaimer along with the required documentation related to security when you scroll down the webpage of Bitteks. This sort of transparency was very refreshing because not many platforms are known for this. Some keep their approaches very private especially in terms of administration. Bitteks takes all the feedback very well and is very open to all sorts of criticism. Since the platform started, I have witnessed its progressing growth. I stick around due to the trading environment it has provided me which is remarkably decent.
Withdrawals and Deposits
Payment options that are well-known are offered to clients. Customers can withdraw and deposit the funds with ease in their accounts. Three means of transactions that are offered by the platform are:
1) Bitcoin Transfers
2) Bank Wire Transfer
3) Credit Card and Debit Card
These options are enough for the majority of the traders but if someone wants an e-commerce method of a transaction such as iDEAL or PayPal, they might be at an inconvenience here.
You can upgrade to an even higher account if the withdrawal speed is not providing you with a good experience. The speed is quite reasonable, though.
The overall experience of the platform is not affected by some minor flaws. They offer knowledgeable seminars to clients. I am a satisfied client of this platform and if traders out there are looking for a credible platform, then I would highly recommend Bitteks to them.
Disclaimer: This review is written from my own experience and my self-knowledge only and this is not a recommendation.